Posted: Mon 22nd Feb 2016

Affordable Homes for First-Time Buyers

news.wales / newyddion.cymru
This article is old - Published: Monday, Feb 22nd, 2016

First-time buyers are being given the chance to buy refurbished homes at less than market value as part of an important partnership to boost the local housing market and deal with empty properties in the Pontypridd area. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Rhondda Cynon Taf Council and Caerphilly-based housing association United Welsh have joined forces to deliver the Homestep Plus scheme with funding from the Welsh Government’s Vibrant and Viable Places programme. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The scheme enables United Welsh to identify and buy empty properties in the CF37 postcode area and to refurbish them before offering them for sale on the private market, at 70 per cent of the asking price to first-time buyers. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Alternatively, those looking to buy their first home in the CF37 area can identify an empty property which meets the criteria*. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

United Welsh will then buy and refurbish the home on their behalf and sell it to them at the discounted price. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

All you need to do to take advantage of the exciting new initiative is to join the Homestep Contact List. It is free to join and means you get the latest news on Homestep properties and can apply for properties you are interested in. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

To be eligible to apply for Homestep, applicants must be able to raise a mortgage with a suitable mortgage lender, have access to enough savings to cover the costs of buying a home, be unable to purchase a similar property on the open market and not be an existing home owner. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The scheme aims to help people get on to the property ladder at a time when it is difficult to do so and also to continue to boost the local housing market and associated economy. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Homestep Plus is part of a wide portfolio of housing initiatives which also include partnerships with housing developers to offer low cost home ownership options on new build homes, as well as initiatives to create energy efficient homes, cut fuel poverty and ensure rented accommodation and homes of multiple occupation are of the standards tenants expect and deserve. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Cllr Keiron Montague, Rhondda Cynon Taf Council’s Deputy Leader and Cabinet Member for Tackling Poverty, Engagement and Housing said: “We worked hard to secure investment via the Welsh Government’s Viable and Vibrant funding programme, which is concentrated on the CF37 area. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“This funding has allowed us to plan and deliver a number of schemes which aim to improve the housing market and the housing stock and provide all-important opportunities for residents to secure the properties they want. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“This exciting scheme is important because the properties will be refurbished to a high standard by United Welsh where required, which means first time buyers can buy properties at a discounted, affordable price and be reassured they have been checked to national standards. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“It also means that properties which have remained empty for long periods of time are being given new leases of life and refurbished to a high standard.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Michelle Collins, Leasehold Manager for United Welsh said: “This project will make a real difference in helping local people to stay local, increasing the number of high quality homes available to rent or buy. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“Empty homes are a wasted resource and this latest initiative will go some way to remedy that whilst helping people get their first step on the property ladder.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

For more information on Homestep Plus, please contact the Housing Strategy team on 01443 525395 or join our Homestep Contact List at http://www.homefinderrct.org.uk/content/Homestep ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​



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