Caerphilly County Borough Council’s Cabinet has this week (14 December) unanimously approved a Low Cost Home Ownership Policy; which will help those on lower incomes access affordable home ownership.
The policy applies to those properties acquired by the Council through the planning system or properties built via its own development programme; it does not apply to homes within the Council’s existing housing stock.
Through the policy, prospective home buyers can purchase a property via shared equity or shared ownership. To be eligible, prospective home buyers must meet specific criteria set out within the policy.
Cllr Shayne Cook, the Council’s Cabinet Member for Housing, said “We understand that many local people aspire to home ownership, but increasing issues around affordability often prevent them from being able to buy their own home.
“We are currently amid a national housing crisis and with over 6,000 applicants registered on Caerphilly’s Common Housing Register, providing a range of options for people to access sustainable, affordable housing has never been more important.
“The Council is making great progress in delivering on its ambitious plans to build new homes and increase the supply of affordable housing in the county borough. Launch of the Low Cost Home Ownership Policy is another step on this exciting journey.”
