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The Local Authority Affordable Purchase Scheme is a new affordable housing scheme, which helps people on moderate incomes buy homes at reduced prices. The local authority takes a stake in your home, which covers the reduction in price.
See examples below which show varying income levels and how your income determines the affordable purchase price you pay and the local authority's equity share.
The Affordable Housing Scheme makes local homes available at a reduced price for first-time buyers and Fresh Start applicants, whose combined mortgage and deposit will not cover the market price of a newly built home.
2 cze 2022 · The ‘Local Authority Affordable Purchase Scheme’ sees local authorities make new homes available for purchase by eligible applicants at reduced prices. In return, the local authority takes a percentage equity stake in the Affordable Purchase home equal to the discount of the purchase price from the full market value of the home.
The Scheme is designed to help you bridge the gap between what you can afford to pay and the price of your new home. Local authorities will provide access to affordable homes - offering you the chance to buy a newly built home at a price lower than its open market value.
What is the Local Authority Affordable Purchase Scheme? Local authorities will make homes available at a reduced price for first-time buyers whose mortgage and deposit will not cover the price of the home and who are seeking to purchase a newly-built home. Through the scheme, the local authority will take a percentage equity stake (share of the
The Local Authority Affordable Purchase Scheme makes local authority-provided homes available at a reduced price for First-Time Buyers, and Fresh Start Applicants, whose combined mortgage and deposit will not cover the market price of the newly built home. Eligible applicants can apply to purchase a local authority delivered Affordable Purchase ...
