Different types of affordable housing available locally, whether you wish to rent or buy.
Social Rented Housing
- Is usually owned and managed by Housing Associations (Registered Providers)
- Is offered to those on the housing register, the rent will usually be well below market levels in the private sector
Affordable Rent Housing
- More expensive than Social Rented Housing, but rents are usually kept within local housing allowance levels.
Low Cost Home Ownership
Includes the following three types of ownership:
- You share ownership of your home with the Housing Association (Registered Provider)
- You pay a mortgage on your ownership percentage
- You also pay rent to the Housing Association - this rent will be higher than social rents, but lower than market rents in the private-rented sector
- Sometimes you will be able to buy the property outright in due course
- Sometimes the percentage you can buy will be restricted, to make sure some properties remain as affordable housing for the future
Equity Loan Schemes
- You own the property, but get financial help through another loan, which is secured on the property
- This loan is partly funded by the developer and partly by the Government
- More information is available on Help to Buy South West
Right to Buy/Right to acquire
- You must already be renting a house from a Housing Association or the Council
- Contact your landlord for more information about this option
Are you interested in one of these schemes?
You must first register your interest with Help to Buy South West.