Harrogate Borough Council has 40 homes across the district to offer to first time buyers as part of its Shared Ownership scheme.
The houses are a mixture of new build properties and properties bought from the open market to sell on a shared ownership basis.
Under the Shared Ownership scheme, the houses will be offered for sale on a part rent, part buy basis. This enables first time buyers to take the first step on the property ladder by buying a share of their home – usually between 25 and 75 per cent – and paying rent on the rest.
Buying a percentage of a house is more affordable than buying 100 per cent, as it means a smaller deposit and lower monthly housing costs. Owners are responsible for repairs and maintenance of the homes and over time they can buy more shares until they own the property outright.
The homes are a mixture of one, two, three and four bedroom houses and apartments, and are in locations throughout the borough, including Pateley Bridge, Ripon and Great Ouseburn, as well as 16 newly built houses at The Pastures on Boroughbridge Road in Knaresborough.
Councillor Mike Chambers is Harrogate Borough Council’s Cabinet Member for Housing and Safer Communities. He said:
Shared ownership is a Government backed scheme which has been around for many years but only now are we starting to see shared ownership homes being built in our district in any number.
Whilst supply has been limited, the number is growing as planning permissions for new developments are granted and house builders start to build. The council is also adding to that number by buying houses and flats on the open market and selling them on as shared ownership homes.
There is huge demand for shared ownership housing and now, for the first time in a long time, we are in a position to directly provide affordable homes to first time buyers who live and work locally.
More shared ownership houses will become available to buy over the next few months, including another seven new builds at The Pastures, as well as others bought by the council on the open market.
Anyone interested in registering an interest in shared ownership housing in the district can e-mail email@example.com and there’s more information about shared ownership on the council’s website at www.harrogate.gov.uk/shared