Homes for all on Kingsway
The Gloucestershire Housing Association (GHA) also has new homes available on Kingsway.
The organisation is to provide over 700 new homes on the development, which will be rented or purchased through the New Build HomeBuy scheme which assists buyers, unable to purchase a property outright, to instead buy a share of their home.
The GHA homes are located in the various new homes areas throughout the Kingsway development.
What is the GHA?
The GHA provides affordable modern housing, either to rent or 'shared ownership', for key workers, single parent and low income families and those whose need is greatest. The Association deals with properties ranging from 1-bedroom apartments to 4 and 5-bedroom houses, available at a range of locations all over Gloucestershire and beyond.
New Build HomeBuy
New Build HomeBuy used to be called Shared Ownership. Buyers need to raise enough money, usually through a mortgage, to pay just for the share of the property that they are buying. This is sometimes referred to as the equity share and will usually be 50%. There are certain properties offered by the GHA where 25% or even 75% of the total cost of the property is available for sale.
The share of the property not purchased by the home buyers is owned by the GHA, which also owns the freehold. The buyer will pay rent on this share of the property, which because it's subsidised, is significantly cheaper than normal rent.
To qualify...
New Build HomeBuy isn't just for people on very low incomes. It aims to provide housing for people whose incomes are too high to qualify for council housing, but aren't high enough to buy a home on the open market. Almost anyone can apply to purchase a property under the New Build HomeBuy scheme.
All HomeBuy purchasers must be able to obtain a mortgage and to afford the fees associated with the purchase of a property.
For details of properties on Kingsway and elsewhere that are currently being marketed by the GHA, visit the HomeBuy South-West website: www.homebuy-southwest.co.uk
An application form can be downloaded from this web site along with guidance notes that will enable you to register with us for New Build HomeBuy.
For further advice on GHA homes available on Kingsway contact Dan Harvey on 01452 541813.