Accessing affordable housing

Affordable Private Rented homes are found in blocks of accommodation or housing developments where all the properties have been built specifically to be rented out by the same private landlord. They are let at least 20% below local market rents (including service charges where applicable) and on new schemes usually account for 30% of the total number of homes. In Cheshire West and Chester they tend to be found in the larger towns and city centres or are owned by rural estate owners such as Bolesworth, Cholmondeley, Grosvenor or Tatton.

There are very few Affordable Private Rent properties in West Cheshire, although more are planned over the next few years. To view the homes available and make an application, you need to contact the private landlord who owns them directly, or check the rental section of online property search engines such as Rightmove, Zoopla and On the Market for adverts. For brand new Affordable Private Rent homes, households with a local connection to Cheshire West and Chester and who meet the West Cheshire Homes eligibility criteria will be prioritised.

Rent to Buy is a low-cost home ownership option which allow households to rent their home from a Housing Association for a set limited period of time at an affordable rent (80% of a market rent) so they can save for a deposit. The household is then offered the opportunity to purchase the property at market value or sometimes on a shared ownership basis. Once purchased, the property is no longer an Affordable Home and can be sold or rented without restrictions. If the tenant is unable to purchase at the agreed time, it is at the discretion of the Housing Association whether they allow them to continue renting until they can afford to buy it or whether they will have to move out so another household has the opportunity.

To be eligible for Rent to Buy Affordable Housing you will need to be working with sufficient income to afford the property at market value, but not currently have sufficient savings to make a purchase. Any income from benefits will not be taken into account. They are a good option for first time buyers or larger families who cannot find enough deposit for a suitably sized market property.

There are a limited number of new Rent To Buy properties in West Cheshire, although more are planned over the next few years. To view the homes available and make an application, you need to contact the housing association who owns them directly, or check the rental section of online property search engines such as Rightmove, Zoopla and On the Market as well as local estate agents. More information can be found online:

Shared Ownership is a low-cost home ownership product, sometimes known as part rent, part buy, shared equity or intermediate affordable housing. You buy a share in your home (for example 10%, 50% or 75%) and then pay a small rent to a Housing Association on the share that you don’t own. For example, if you were to take out a mortgage to own 75% of the property, the housing association would own the remaining 25%, which you would pay rent towards. You are still responsible for repairs and maintenance of the property – this is not included in the rent.

Additional shares can be purchased when you are able to afford to do so and this is known as ‘staircasing’. On some schemes you can staircase up, so you own 100% of the property and it becomes a market home.

Shared Ownership homes are available to any household who cannot afford to access market housing, with a total income below £80,000. Owners are encouraged to purchase the largest share their income/savings allow them to, so they pay less rent. They are a useful option for working households on lower incomes, or those who have been homeowners but no longer have an income to support the purchase or maintenance of a market home and may wish to downsize.

Further information including eligibility, applications and how properties are advertised can be found on the GOV.UK website.

Discounted market sale homes are also a low-cost home ownership product and are offered for sale to eligible purchasers at a discount of at least 20% below local market value. In higher value areas of the borough this discount may be up to 50% to make them more affordable. For example, a £100,000 house with a 25% discount would be offered to eligible applicants for £75,000.

Eligibility is determined with regard to local incomes and local house prices, and frequently households with a local connection to the area are given priority. This is not a Shared Ownership scheme and even though there is a discount on the sale price, the purchaser owns 100% of the property, with no additional rent to pay.

Discounted Market Sale properties must remain as Affordable Homes with no option to convert to a market home, and therefore are not suitable as an investment option for private rent in the future. When you want to sell the property, you must do so on the same terms, which means you must sell it with the same level of discount you received and to someone who meets the criteria for affordable housing. This type of low-cost home ownership is most suited to working households or households with some equity who cannot afford a market home, as applicants will need to provide a reasonable deposit towards their purchase.

Details of new and resale discounted market sale properties can be found on the Council’s available properties page and are also advertised via national property search engines such as Rightmove, Zoopla and On the Market as well as local estate agents.