More affordable housing now available in Bury

Reporter: Ask Bury
Date online: 15 January 2007

Bury Council’s Affordable Housing scheme launched in January 2004 has proved to be a resounding success with Bury residents.

The scheme is part of a Government initiative designed to give people on modest incomes better access to housing, as well as help first time buyers get their foot on the property ladder.

Since the start of the scheme 30 affordable properties have been completed so far and these are all occupied by Bury residents.

Whilst the first of the affordable properties in Bury are currently occupied, a further 70 properties are already under construction on six development sites throughout the Borough.   A number of other sites have now received planning permission which will allow another 63 affordable homes to be built.

Councillor Sharon Briggs, Executive Member for Learning Skills, Housing and Employment said, "Providing a choice of quality housing is a key priority for Bury Council and we are delighted to be able to work in partnership to bring affordable housing to Bury and enable local people to remain in their community.  The scheme has generated much interest offering residents the chance to own their own home.

A waiting list of interested applicants is managed by Bury Council.  To apply to go on this list an application form needs to be completed.  Whilst applicants do not have to be on the Council's Housing Register to apply for home ownership or shared equity, the suitability of applicants is dependent on income, savings and the amount of mortgage a bank or building society is prepared to lend and a number of other qualifying conditions.

There are three options within the scheme:
Option 1 - Home Ownership: Brand new properties are offered for sale at discounted prices - typically 25% less than the current market value.

Option 2 - Shared Equity: A share of the new property is bought. The remaining share is retained by the Housing Association and there is no rent payable.

Option 3 - Rental Properties: New properties are rented through Housing Associations at a lower rental than private landlords. Applicants with the most need for these properties only will be selected by Bury council from the council housing register.

Full details of the Affordable Housing Scheme and the properties currently available to reserve and purchase can be viewed online at www.bury.gov.uk/housing/privatehousing/affordablehousing

For more information about the Affordable Housing Scheme please contact Jackie Summerscales, Affordable Housing Officer on 0161 253 7652 or pick-up an application form from your local library.