The proposals would deliver around 106 new homes, all of which will be deemed ‘affordable’, providing new and high-quality homes to help meet York’s identified need for affordable properties. Affordable homes operate at competitive levels based on house prices locally and include a range of ownership options including shared ownership and social rent (managed by Together Homes).
These properties will be initially targeted at local key workers as we recognise the challenges they face in accessing affordable rent or in purchasing a home via shared ownership.
The proposals include:
What are Shared Ownership and social rent?
Shared Ownership is the more affordable way to own your own home. If you are currently renting your home, you may even be able to reduce your monthly outgoings with a Shared Ownership home from Together Homes. You may find the combined cost of your mortgage, rent and service charges are cheaper than the cost of private rental.
You could be within reach of owning your own home, even if you don’t have a large deposit ready. With Shared Ownership you need a much smaller deposit than when you are buying on the open market.
Social rent, sometimes known as ‘affordable rent’, involves renting a property from a housing association, in this case Together Homes. These rental prices are designed to be lower than wider market private rent and help people to secure affordable tenancies.
