Development And Regeneration
Low Cost Home Ownership
An important part of our work in developing mixed, sustainable communities is the provision of Low Cost Home Ownership.
There are two main ways products we use to achieve this:
Discounted Sale
These are houses or apartments which are normally on new, private developer schemes. The homes are made available to us at a subsidised rate as part of the affordable housing requirement associated with the Developer's planning permission.
We are then able to sell on the property at a discounted rate, (typically between 50%-75% of open market value) to eligible purchasers such as first time buyers or key workers.
No rent is normally payable on Discounted Sale homes although there will often be service charge.
For information on Discounted Sale properties in your area, contact
Space Property on 0113 2433142,
New Build Homebuy
Formerly known as Shared Ownership. this scheme allows people to buy a flexible share in their home. Basically you buy a share of the new property, say 50%, paying 50% of the full price of the home. On the remaining half you pay a rental charge.
You also have the freedom to buy more of a share of your home at a later date (so-called "staircasing") which means you would pay a lower rent in proportion. In many cases you can even completely buy 100% of the property- but there are important exceptions so please check with us first if this is your intention.
Homebuy is a Government scheme and you have to apply for Homebuy properties through the officially appointed agents.
Leasehold Schemes For the Elderley (LSE)
Finally, we also offer homes which are built to what we call "Lifetime Standards." This means they are adaptable and flexible for future changes in your life situation. This means they are big enough for wheelchairs, and have the ability for aids and adaptations such as grab rails, hoists, special baths or showers, warden calls etc to be fitted with minimum of fuss and disruption. The effect of this is that even if your life situation changes and you need these adaptations you can still live comfortably and safely within your own home.
We offer some of these properties for sale under a shared ownership system in which you pay and own upto 75% of the cost of the home, but at this level you pay no rental charge. To buy one you need to be over 55.
10 bungalows of this type are currently being marketed by Space Property at our Hendal Lane scheme, in Wakefield,