Plot 21 – £107,500 (50% of Market Value £215,000)
You can buy 50% of this affordable bungalow and rent the remainder
with the option of buying the balance at some time in the future.
Part Buy Part Rent example: 50% purchase £107,500 plus an (initial) rent
of £223.96 per month.
ELIGIBILITY:
– To qualify you must have local connections to: the parishes of Haverthwaite,
Lower Allithwaite, Lower Holker, Grange-over-Sands, Broughton East,
Upper Allithwaite and Staveley-in-Cartmel, Cartmel Fell, Urswick Bardsea and
Stainton, Egton with Newland, Mansriggs and Osmotherly.
– Your income and capital will be subject to a means test by SLDC. Applicants
who can afford open market prices or own another home need not apply.
HOW TO APPLY:
– Please contact affordable.housing@southlakeland.gov.uk for an application
form. Applications must be submitted to SLDC for approval.
– You will also need approval from Heylo Housing Home Reach via their agent, click here for an online application form. See notes below on completing the form.
– Prior to reservation you will need to provide us with written confirmation that you have been approved in principal for a mortgage if required. This does not require a full mortgage application at this stage, merely a confirmation from your mortgage advisor that in principal a lender is happy with your ability to purchase and that they will lend on this type of shared ownership homes. We suggest you consider using a specialist broker who has experience of this type of scheme. Damien Byrne of Wiseone can assist with this process (mobile 074012378190 or byrne@wiseoneuk.com www.wiseoneuk.com)
– Should there be more eligible applicants approved than properties available, priority will be given to those who have previously registered an interest via our website and who are in a position to proceed including evidence of a mortgage offer in principal .
– SLDC and Heylo will assess the applications after the closing date and will notify us of those who have been approved. We will contact the successful applicants in prioritised order shortly afterwards
-More details on the Homereach scheme are available at https://www.homereach.org.uk/ however please note that some details may vary slightly due to SLDC’s local conditions
Guidance on completing the Heylo Agent Approval Form:–
click here for an online application form
This is headed with a Help to Buy logo. Please be aware this is not a Help to Buy Scheme as these homes do not qualify for the scheme. The application is for Shared Ownership.
In the first box indicate if you are a single (only 1 proposed owner) or joint if in 2 names
In the second box select ‘Shared Ownership’
In the third box select Heylo Housing
Leave the fourth box blank
Choose the relevant reasons for applying that are applicable to your circumstances
For the property type tick terrace as that applies to this plot
Number of bedrooms-tick 2
Local Authority – choose South Lakeland
The rest of the form relates to your personal details and should be self-explanatory to complete.
