New affordable housing in Stafford
Stafford and Rural Homes (SARH) has teamed up with a local building society to offer help to first-time buyers in the borough.
SARH has made two homes at its new housing development on Morton Road available to purchase through shared ownership.
Stafford Railway Building Society is working with SARH to offer new customers competitive, shared ownership mortgages specifically for the homes.
Amanda Nicklin, Housing Choices Manager for SARH, said: “We understand the difficulties that first-time buyers currently face so to ease the pressure we have made two homes at Morton Road available through shared ownership.
“Working in partnership with Stafford Railway Building Society we also hope to make sure new customers get the best deal possible on a shared ownership mortgage.”
Under shared ownership customers will only buy a percentage stake in the home with the remaining stake being retained by SARH.
Susan Whiting, Deputy Chief Executive of Stafford Railway Building Society, said: “We are delighted to be able to help this local initiative to help local people into affordable housing.”
The nine new properties at Morton Road – due for completion later this month – are the first in an ambitious £4.7million project by Stafford and Rural Homes in partnership with Housing Plus. Together they aim to ensure 44 new, affordable homes in Stafford.
A further four new properties in the project will be made available through shared ownership with the remaining homes available to rent through SARH.