First completed affordable rent-to-buy homes in the South Hams
A housing scheme which enables local people to get their chance to get on the property ladder has welcomed its first official visitors to Langdon View in Wembury, near Plymouth.
Tamar Housing and Rentplus invited local Councillors to visit the newly-completed affordable rent-to-buy properties to give insight into how the new scheme offers an alternative route into home-ownership.
Langdon View is the first completed Rentplus site in the South Hams and provides affordable rented housing to those who would have difficulty in saving a deposit to access open market home ownership.
Julie Barnett, chief executive of Tamar Housing, said: “We look forward to helping more people across Devon achieve the same, exciting step on the home ownership ladder.”
Richard Connolly, chief executive of Rentplus, added: “Working in partnership with Tamar Housing and a local developer is the key to how Rentplus works.
“We hope this will be the first of many such developments in South Hams and across Devon, delivering more affordable homes to hard working families.”
All of the new residents were previously living with family or in private sector rented properties away from Wembury due to the high rental values.
The families will rent their home for a period of five, 10, 15 or 20 years at an affordable rent at approximately 80% of that in the area, giving the opportunity to purchase the property with the help of a 10% gifted deposit at the end of the rental period.