Affordable Homes
We know that there is a housing crisis in Cornwall, and that we need to build more houses to help people who cannot afford to buy or rent on the open market realise the dream of living in their own home. To help this, we will be providing 28 affordable homes on Elm Gardens as part of our proposals.
Our plans for Elm Gardens include 14 social rent homes and 14 shared ownership homes.
About affordable
About Affordable
Social rent homes are owned and rented out by housing associations such as Ocean Housing, our sister company. The rent for these homes is typically around 50 – 60% of the open market rent, which are allocated to qualifying applicants through Cornwall HomeChoice, who keep a register of applicants. For more information, please visit:
www.oceanhousing.com/register-with-homechoice
Shared ownership properties are also owned by housing associations such as Ocean Housing and allow buyers to take out a mortgage to purchase part (a share) of the house, whilst the other part is rented. Residents can purchase further shares over time, known as staircasing.