WITH a choice of schemes available to help buyers secure a new home near Preston for less, the prospect of homeownership could be easier to afford than anticipated.
Elan Homes is building just 21 homes on land at Henry Littler Way. The development, known as Whittingham Fold, offers a choice of three and four-bedroom properties.
The homebuilder is working with Preston Council to help make owning a new build home easier to afford.
Subject to eligibility criteria, selected properties are being sold at a discount to market value. It means that eligible purchasers could secure a brand new home at just 67% of the open market value.
Marie Morris, sales director for Elan Homes in the North, explained: “It’s important that when we plan and build new homes, we cater to local housing need. Our Whittingham Fold development may be small in scale with just 21 properties but is helping address local need, including a requirement for low-cost homes, ideal for those starting out, starting over or downsizing. It’s a welcome boost to local people who may otherwise think they’ve been priced out of the housing market.”
The affordable housing scheme is part of a government initiative designed to offer better access to housing and help first time buyers get a foot on the property ladder, by providing low-cost housing.
Eligibility criteria to purchase a property at discount to market rate includes having a local connection to the Preston area; being able to demonstrate a housing need for the property type and either being a first time buyer or have sold an existing property before completing the purchase of the discounted property.
To purchase in this way buyers must not be able to afford a property on the open market and have a total household income of less than £53,000.
Plot nine, a three-bedroom Glossop is available under the scheme for £174,197.
The kitchen is at the front of the property, with a combined lounge/dining room benefitting French doors that open out onto the rear garden. A cloakroom completes the ground floor.
Upstairs, there are three bedrooms and the family bathroom.
Open market prices at Whittingham Fold start from £259,995 for a Glossop style property, with four-bedroom homes available from £354,995.
For those who don’t qualify for the affordable housing scheme, Elan has flexible buying options available. For a limited time, subject to terms and conditions, selected new homes are available with a mortgage contribution scheme worth up to £12,000.
To help inspire potential purchasers, Elan has a professionally styled and fully furnished show home available for viewing at Whittingham Fold. It’s open for viewing Thursday to Monday from 10am to 5pm.
For more information see https://www.elan-homes.co.uk/developments/whittingham-fold.
Caption – Plot nine, the three-bedroom Glossop at Whittingham Fold is available at discount to market value