Property

First completed affordable rent-to-buy homes in the South Hams

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14th July 2017

An innovative housing scheme, designed to enable local people a 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 them an insight into the scheme and how it offers a fantastic alternative route into home-ownership.

Tamar Housing arranged the morning to allow Councillors from South Hams District Council to spend time looking around the six Rentplus properties before the new residents move in later this month.

Cllr Daniel Brown, Ward Member for Wembury and Brixton said: “Langdon View is a small development built by a local developer and is a great example of where affordable housing has made a difference to local people, these homes are going to help six families stay in the area where they live, so I am delighted to see that the affordable rent-to-buy homes have been completed.

Langdon View is the first completed Rentplus site in the South Hams and is part of a national scheme which provides affordable rented housing that supports tenants to move onto home ownership. Tamar Housing has worked closely with the South Hams District Council to allocate the properties to people who have a strong local connection to the Parish of Wembury, and would have difficulty in saving a deposit to access open market home ownership. All of the tenants moving in to Langdon View were previously either living with family in the village or in a private sector rented property away from Wembury due to the high rental values, number of seasonal holiday homes and lack of long term rental property in the village.

The new residents will rent their home for a period of 5, 10, 15 or 20 years at an affordable rent which is approximately 80% of the market rent for the area. At the end of the rental period they will have the opportunity to purchase the property with the help of a 10% gifted deposit.  Tenants will be encouraged to save towards the purchase during their period of rent as the homes are highly energy efficient and all repairs and maintenance will be carried out by Tamar Housing.

Julie Barnett, CEO, Tamar Housing said: “I am delighted that we have been able to give six local households the opportunity to take the 1st step towards home ownership in their own village. We look forward to helping more people across Devon achieve the same, exciting step on the home ownership ladder”.  

Richard Connolly, Rentplus CEO, said: “Working in partnership with Tamar Housing and a local developer is the key to how Rentplus works. Our innovative model gives families who are just about managing the opportunity to fulfil their dreams of homeownership while offering them the safety and security of long term tenure and an affordable rent, with the homes managed on behalf of Rentplus by a local housing association. 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.”

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