Affordable housing is low cost housing, which includes social rented, affordable rented, discounted open market and shared ownership housing for eligible households whose needs are not met by the open market. Eligibility depends on your household income and, in some cases, local connection. You must also be registered with Homefinder Somerset or Help to Buy South West. Help to Buy South West is a Government appointed Help to Buy agent providing a ‘One Stop Shop’ service for home ownership that exist in the South West of England.
The Housing Enabling team works closely with registered providers (housing associations) and housing developers to assist in the provision of affordable housing for those people in housing need.
There is a range of low cost home ownership options across Taunton Deane, including discounted open market and shared ownership housing.
Discounted open market housing is housing provided by the developer at a discount to the full market value. The discount will be tied to a Section 106 (legal) agreement and be held in perpetuity. The buyer owns the whole of the property, there is no third party. This form of ownership is aimed at those people who can afford to buy but not at a full market value. Eligibility criteria applies to each property. A list of discounted open market housing currently available in Taunton Deane is available on the Homefinder Somerset website.
Shared ownership housing is available to those people who are not able to buy outright, but would be interested in eventually owning their own home. Ownership is joint between yourself and a housing association, paying both rent and mortgage. You buy a share of your home and pay rent on the remaining share. For most shared ownership homes, the opportunity is there for you to gradually buy additional tranches of the property to eventually own outright. You can buy more shares or sell the property. Shared Ownership schemes are provided through housing associations. The level of deposit required is variable. Please contact the relevant housing association direct for details. A list of shared ownership housing currently available in Taunton Deane is available on the Homefinder Somerset website.
There is a range of social rented and affordable rented housing across Somerset, which are provided by both the Council and housing associations. These properties are let through the Choice Based Letting (CBL) scheme, Homefinder Somerset. Anyone looking for social rented or affordable rented housing in Somerset now only has to complete one application form. This is dealt with by the Housing Options Team.
If you would like more information on affordable housing, please contact us on email email@example.com or call us on 01823 219465.