PEOPLE who want to get a foot on the property ladder will have a chance to get help buying a home under a new scheme.
The district council will offer to pay for half the price of any house for sale on the open market worth up to £210,000 in Essex, Hertfordshire, or the London boroughs neighbouring Epping Forest under the new scheme, together with the Broxbourne Housing Association, based in Hertfordshire.
At first, the scheme will be offered to council house tenants in the district with a household income of between £25,000 and £60,000.
They will own half the house and pay an “affordable” rent on the other half, with the chance to purchase more shares in the property over time, according to the council.
They can eventually own their home outright.
The district council's housing portfolio holder, David Stallan, said: “The difference with this scheme is that someone can buy a home of their choice on the open market, instead of purchasing a shared ownership home on a specific new development.”
He added that the scheme would at first be used to try and release council houses for families that need them, but could be offered to non-council tenants in the future.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel