For many people, owning a home of their own seems out of reach. This was the case for Pamela who went through a difficult time after a bereavement. We’re pleased that this year we were able to help her realise her dream of home ownership.
In 2017/18 we built 62 homes for sale through Shared Ownership. We have seen great demand for our homes from a wide range of people, from retirees, to couples with families and young professionals.
Shared ownership helps people get on the housing ladder. You buy a share of a new house (usually 50%), which makes it easier to get approval for a mortgage. You pay rent for the share we own and can choose to buy more over time until you own it outright.
Many of our shared ownership homes are bought through partnerships with property developers who are required to include affordable housing in their schemes.
Next year we will build our first Leeds Federated shared ownership development at Greenview Mount in Gipton, Leeds. This scheme will have 45 homes for sale starting from as little as £45K for a 50% share.
This exciting project will be situated near a major road network off York Road, with great transport links into Leeds City Centre and many amenities. Work is due to start on site in autumn 2018, with the development due to be completed in summer 2019.
Next year we plan to complete 80 homes for sale through Shared Ownership and help many more people achieve their aspirations of home ownership.
For more information about shared ownership please see our guide.
Shared Ownership guide