A new three-bedroom home in picturesque Ribble Valley for just £66,500 might sound far-fetched, but exactly that is up for grabs thanks to the borough council and Onward Homes.
The council has joined forces with developers and housing associations for many years to tackle the borough’s chronic shortage of affordable homes.
Now three two-bedroom and two three-bedroom properties are available at picturesque Littlemoor Park in Clitheroe, while three two-bedroom houses are available at the Monks Cross development in Whalley.
Shared ownership allows payments to be split between mortgage and rent, with ownership typically starting at a 35 per cent share, with the option to purchase further shares or buy the property outright at a time that’s right.
They are particularly suitable for house-hunters with a large deposit and low income, or higher income and no deposit.
The two-bedroom Cranford at Littlemoor Park starts at £68,250 for a 35 per cent share, with £290 monthly rent, while the three-bedroom Langley is a snip at £66,500 and £283 monthly rent.
Three two-bedroom houses are also available at Monks Cross in Whalley from £64,750 and £276 monthly rent, and further properties are expected to become available for shared ownership at the development later this year.
The shared ownership properties are built to a high specification, with modern bathrooms, contemporary fitted kitchens, turfed gardens and dedicated parking.
Bridget Hilton, chairman of Ribble Valley Borough Council’s health and housing committee, said: “The provision of affordable housing is one of the biggest challenges facing the council and we are working closely with our housing partners to address this problem.
“Shared ownership is an ideal way for some residents to access the housing market and the standard of the properties is usually very high.
“We are delighted that these properties have become available in Clitheroe and Whalley, where affordable homes are particularly scarce, and I would encourage interested people to register without delay.”
The properties are available to anyone with a Ribble Valley connection and further details are available from the council’s housing team on 01200 414567 or Onward Homes on 0151 708 2421.