Affordable Housing

Cheshire East is committed to helping local people secure their own homes who might not otherwise be able to afford a property at the full market value.

The Council negotiates with developers for a percentage of affordable housing to be provided on new sites across Cheshire East where planning requirements for affordable housing apply.

Cheshire East works with a number of Registered Social Landlords (RSLs) to provide this affordable accommodation.

Who can buy affordable housing?

Affordable housing for sale is for people whose income is not enough to enable them to buy a property to meet their needs on the open market, but enough to buy a share in a property, or to buy a property at a discounted price.

By providing affordable housing, the Council aims to enable people to buy homes in the areas where they wish to live and work.

Shared Ownership

Shared Ownership is available to help people to gain home ownership even though they cannot afford to purchase a property outright.

A developer will sell the affordable properties to a Registered Social Landlord, who then sells a percentage (25% - 75%) of the property to a prospective purchaser. Rent is paid on the remaining percentage. In some cases, if a high percentage is bought at the initial stage, it may lead to no rent being paid to the housing association.

Purchasers of shared ownership properties are usually able to buy further shares in the property from the RSL – this is called “staircasing”.

In many cases it may be possible to staircase to 100% and own the property outright; however, on certain sites especially in rural areas staircasing may be restricted, for example to 80% ownership. The RSL thus retains ownership of a small percentage share to ensure that the property continues to be available as affordable housing for the next buyer if the original purchaser moves on.

Who can buy a shared ownership home?

Shared ownership is meant for people who cannot afford to buy a suitable property at open market prices. You will need to be able to pay for your share of the property (e.g. by a mortgage), and to pay rent on the remaining share. If you apply for a shared ownership property, the RSL will help you to work out if you can afford this.

Discounted for Sale

These are properties on housing developments that are sold by the developer initially with a discount from the open-market value which remain with the property through all subsequent sales.

How does the Council decide who will be able to buy a discounted home?

Applicants for these properties must satisfy our eligibility criteria which includes the ability to demonstrate a local connection to the area. They must also be only able to afford the property at its discounted price but not at its full market value. The Council nominates people for affordable housing units based on its current Affordable Housing waiting list.

How does the Council work out the rate of discount on an affordable home?

Before the first sale of an affordable home, the Council will assess the open market value (OMV) of each property concerned and calculates the percentage reduction, resulting in an ‘affordable purchase price’. This percentage off OMV is then written into the title documents. This covenant, while allowing you to own the home, protects the property itself by limiting its future sale price to that percentage off OMV, so the next buyer can also afford the property.  The Council always puts forward nominee purchasers.

Ownhome

Ownhome is provided by a partnership between Places for People (A Housing Association) and The Co-operative Bank. Ownhome is part-funded by the government and is designed to help people who cannot currently afford to purchase suitable accommodation. You may be able to access a loan to help you which equates to between 20 and 40% of the purchase price of your property. There are no interest payments for the first five years. Further information is available by downloding the Ownhome Information Pack (PDF, 829KB). Alternatively you can contact Ownhome via the Ownhome website or call them on 0845 230 7000.

Cheshire Homebuy

This is a Cheshire-wide scheme that provides several options that can help you to buy an affordable home.

Download the affordable housing application form (PDF, 144KB)

Need more detailed information? Please contact us:

Every home and every development is unique in position, in size and in value. It all depends on where each property is and how much it would be worth on the open market, therefore we cannot give specific guidance - but we can advise on each development individually.

Affordable Housing contact details