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Affordable housing is provided as a solution for those who cannot afford either open market purchase or private rent. With continued high house prices, particularly in rural areas such as Thirsk, it is increasingly difficult for individuals and families to meet their housing needs and affordable housing provides a cost-effective, quality option.

There will be a mix of tenure options available at Sowerby Gateway, including affordable rent and low cost home ownership. All the affordable housing at Sowerby Gateway will only be available to people with a local connection to the area (Thirsk, Sowerby and all the surrounding villages serviced by the town). This requirement will stay on the property for its lifetime.

Those who qualify need to meet one of the following criteria:

• is currently living in the area and has done so for the last year
• has lived in the area for five out of the last ten years
• has a close family relative or carer in the area
• has a permanent employment contract with an employer in the area

Affordable rent is considerably below what would be charged on the open market and is always below the housing benefit level, so that if a tenant needs further assistance and qualifies, they can access it. A typical two bedroom unit would cost between £65.00 and £80.00 per week.

Low cost home ownership allows the occupier to buy an interest in the property – Broadacres will hold the freehold of the property and the remaining interest. The likely model to be used for Sowerby Gateway is discount for sale, where the property is sold at a percentage of the open market value and can only ever be sold at that discounted price. This is usually around 50% to 60% of the open market value.

If you are interested in living in Sowerby Gateway, you can contact us on living@sowerbygateway.com for more information on the options available.



  
 
   
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