What are affordable homes?

Affordable Homes, otherwise known as the intermediate housing market, are provided for those people who do not qualify for a social rent property through a Council or Housing Association, but who cannot afford to buy a home outright on the open market and don't want to pay the high rents associated with privately rented properties.

Stagnell Fox provides a number of homes under various affordable homes initiatives:-

To find out if you are eligible please click here.

New Build Homebuy (formerly known as shared ownership)

With New Build Homebuy you buy part of the property, normally between 25% and 75%, and pay a subsidized rent on the part you don’t own. Later on, if you want and can afford to, you can normally buy the remainder of the property. The more you own, the less rent you pay. If you eventually buy the property outright, no rent will be payable. New Build Homebuy properties are usually new properties on specific developments. New Build Homebuy is available to key workers and to first time buyers who cannot afford to purchase a property outright on the open market.

Use our property search function to see homes available through New Build Homebuy.

Equity Loan

Equity Loan schemes enable you to buy a property for only around 75% of the price. You use a mortgage and/or savings to buy the property, usually 75% of the purchase price and the remaining 25% is granted as an equity loan. There are not any monthly repayments on the equity loan it is simply repaid when you sell the property, or earlier if you choose. The equity loan is linked to the value of the property you purchase. This means that if your property increases in value you will repay more when you sell. If property prices fall you will be normally be required to pay back the initial equity loan provided. Use our property search function to see homes available through an equity loan.

Intermediate or Sub Market Rent

Intermediate Rent properties are available at 80% of market rent and let on assured Shorthold tenancies. Use our property search function to find any intermediate rent properties available in your area.

Try Before You Buy

With Try Before You Buy you have the opportunity to rent the property you are considering purchasing for two to three years first. This will enable you to save for a deposit while still living in the property of your choice. At any time during this period you can exercise your option to purchase the property on a shared ownership basis at the value of the property at that time. If you decide that the property is not for you then you can terminate your tenancy at any time by giving one month’s notice. Use our property search function to see details of available Try Before You Buy properties.