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Affordable HousingTypes of Affordable Housing

This page contains advice on the different types of affordable housing available in the Borough of Redditch and links to websites where you can find detailed information.                                                                                                      

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Social Rented Housing

is housing often provided by a Registered Social Landlord or Redditch Borough Council which is available for a target rent determined via the National Rent Regime, which should be lower than a open market rent (renting from a private landlord)

 

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Affordable Rent Housing

The Affordable Rent Tenure www is a new type of affordable housing available from 1st April 2011 that can apply to newly built and relet properties owned by Registered Social Landlords. Properties let under the Affordable Rent Tenure will usually cost 80% of the open market rent and in the Redditch Borough may be made available on a time-limited basis, for a minimum of 5 years. Any existing properties which fall vacant can be considered for re-letting as Affordable Rent Properties, but will not affect existing tenants, only those who are applying for properties available for reletting.

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Co-Operative Housing

Is housing provided for rent by a local housing co-operative, where tenants have a say in the design and an active role in the management of their homes and communities.- Click to read more about Redditch Co-Operative Homes

 

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Intermediate Housing

Is housing which is often provided often on a fixed term by a Registered Social Landlord where rents are set in-between the Social Housing Rent and Open Market Rent. Sometimes this tenure has the facility to buy part of the property at a later date. Click to find out more www

 

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Shared Ownership

Is where you can buy part of a new home with a mortgage and pay rent to a Registered Social Landlord on the remainder.  For more information right arrow green click to find out more www

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"HomeBuy Direct"

Is where developers sell specific new build properties, at a price discounted to 70% of open market value, but where you as the purchaser own 100% of the property, but where 30% of equity is funded by an "equity loan" provided by the Government and the developer 

 right arrow greenClick to find out more www

 right arrow green Click to view a Video about applying for HomeBuy produced by ORBIT HomeBuy Agents  You tube logo

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"Firstbuy" (COMING SOON)

"FirstBuy" is designed to help First Time Buyers into affordable home ownership by purchasing a brand new property from a house builder/developer.

An equity loan of up to 20% of the home's full market value will be offered to eligible applicants and will be co-funded by the Government and the developer.

Applicants are required to fund at least 80% of the property purchase. You will require a conventional mortgage from a qualified lending institution and a minimum deposit of 5% to purchase a property through this scheme. Some of your savings will be required for legal fees and the rest will be required for your deposit.

 right arrow green Click to find out more

 right arrow green Click to view a Video about applying for HomeBuy produced by ORBIT HomeBuy Agents

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"Discounted Sale"

Is a historic Redditch Borough Council scheme, now available only on 12 resale properties in the Borough, where the Council negotiated a discount from open market value through the - Section 106 Agreement subject to applicants having an established local connection. 

    Private sector housing click here

Private Rented Housing

Is where you rent a property from a private sector landlord on an Assured Shorthold Tenancy. The private landlord may be accredited by the Midland Landlord Accreditation Scheme - Visit the Private Sector Housing Page for more Information.

Contact Us

If you would like to apply for any of the affordable housing Schemes, you are advised to register on the Council's Housing Register by clicking on the button below and following the steps:

Redditch Home Choice Strapline

For the HomeBuy Schemes, - Orbit HomeBuy Agents, who are a Government backed agency who administer the HomeBuy Scheme for Herefordshire and Worcestershire.  This article shows how Orbit Could help you!!  Word

right arrow green This short video explains how you can own a home of your own via HomeBuy 

If you wish to contact Orbit HomeBuy Agents by telephone, please contact them on  telephone 0345 8 50 20 50 or by electronic contact form

Page Information
This page was last reviewed 22 November 2013 at 13:08 by Web Team.
The page is next due for review 21 May 2014.
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Redditch Borough Council, The Town Hall, Walter Stranz Square, Redditch, B98 8AH - Directions to Council Offices