Cotswold District Council has launched a new discounted home ownership scheme in Moreton-in-Marsh.
Brand new two and three bedroomed properties built by CALA Homes are now available exclusively to eligible applicants who live and work in Moreton-in-Marsh and the surrounding parishes of Batsford, price Bourton on the Hill, health Evenlode, drug Longborough, Sezincote and Todenham. The houses are at Moreton Park (Fire Service College site) and will cost £166,250 (two bedroom properties) and £180,250 (three bedrooms.)
Cllr Sue Jepson, the CDC Cabinet Member for Planning and Housing, explains how the properties are being made available at bargain prices:
“Eligible local purchasers, with a household income of less than £60,000, have a three-month ‘exclusivity’ window to purchase these homes at 70% of their value on the open market. The Council will retain a 30% stake in each discounted property and the owners will be able to purchase this from us should their financial circumstances improve. However, if they do not choose to do so and then move house, the owners will have to sell their property to a local purchaser for 70% of its open market value.”
She continues:
“If owners opt to purchase the remaining 30% stake in their homes, the Council will recycle that money into other affordable housing schemes in the district. It is a requirement that purchasers must occupy the houses as their principal home.”
CDC Leader, Cllr Lynden Stowe, has welcomed the new scheme wholeheartedly:
“One of our major priorities is making local homes available for local people to purchase. The release of these new homes in Moreton at discount prices should help quite a few local first time buyers with a lower income get on the property ladder, thanks to the arrangements we have made to give them an advantageous start.
“Our Local Plan consultation paper recognised that the lack of affordable housing is a key local priority, and our aim is to provide an adequate supply of quality affordable and open market housing, of appropriate types and tenures for local need up to 2031.”
Robert Monkman, sales and marketing director for CALA Homes Midlands, said:
“These properties provide a fantastic opportunity for local purchasers to own a brand new home, which is in an area that they know and love, and at a price that is solely available to them.
“The homes feature the same traditional design of a Cotswold property that has made the Moreton Park development so popular with buyers and,unsurprisingly, we are already receiving lots of interest in them.”
To find out more about these new homes, call CALA Homes on 01608 652 051 or text ‘CALA303’ to 84840.