Bedale affordable housing completed

Published by Neil Shaefer for Broadacres in Housing and also in Communities

Monday 7th January 2013 - 8:43pm

Broadacres’ New Homes Coordinator Kath Stansfield at the new development in Bridge Street, Bedale.

People living in and around Bedale in North Yorkshire are being given the opportunity to get a foot on the property ladder for as little as £55,000 – following the completion of the largest affordable housing scheme in the town’s recent history.

Broadacres Housing Association has built 27 luxury apartments in the centre of the town, in Bridge Street, at a cost of £2.3 million.

The one and two-bedroom apartments are being offered for sale (the rental properties were quickly let), and are only be allocated to people living in Bedale and the surrounding areas.

This forms part of a Government-backed drive to ensure that local people are offered affordable housing in their own communities and are therefore not forced to move out of the area.

Twelve of the 27 homes are being offered for shared ownership, which means rather than having to find the full £110,000 to buy one of the two-bedroom apartments, they can take a 50% stake in the property and pay only £55,000.

They will then pay a small rent on top of this, but as their financial circumstances change, they also have the option to buy a bigger stake in their property, known as stair-casing.

Broadacres’ New Homes Co-ordinator Kath Stansfield said: “Bedale is a very popular and affluent market town, with the average house currently being sold for almost £230,000.

“In the current economic climate, with larger deposits being sought by lenders, many local people are being priced out of home ownership. But by offering homes for £55,000, we giving people the opportunity to get that all important first step on the property ladder

“Given the quality of the homes and location in the heart of Bedale town centre, we expect demand to be high.”

The remaining 15 homes are for social rent and were allocated in the same way as the properties for sale, with preference being given to people with a local connection.

People interested in buying one of the homes can telephone 01609 767972 or apply via www.my4walls.co.uk