What are affordable homes?
Affordable homes are homes which can be bought at below open market value, or below open market rents, and which are within the means of households on typical or below average incomes for the area.
Affordable homes for sale
These are aimed at people who can get a mortgage, but cannot afford a suitable home at open market prices.
These are usually sold on a shared equity basis, with applicants purchasing a % share and the Council or housing association taking the remaining share up to the market value of the home as a second charge.
Who can buy an affordable home?
You will need to show that they cannot buy a home at full open market value, that you can get a mortgage and have money for a deposit and legal fees.
Your total household income before tax must be less than one third of the open market value price of the property.
You must be a Carmarthenshire resident, work fulltime in the County or have a long standing local connection to Carmarthenshire such as immediate family within the area.
Priority is given to Council and housing as-sociation tenants who live in Carmarthenshire
We don’t set limits on how much of the purchase price comes from a mortgage and
how much from a deposit. Mortgage lenders will have minimum figures for a deposit.
Applicants need to provide the Council with evidence that their savings and income are not enough to buy a suitable home for their needs on the open market.
You will not be considered if you:
- currently own or have a share in another home.
- are unwilling to provide details of your income, savings and mortgage.
- are a cash buyer.
Eligibility
You must be a resident or be working full time in the County, or have a long standing local connection to Carmarthenshire, such as immediate family within the area.
Priority is given to Council and housing association tenants in Carmarthenshire
Your income before tax should be a minimum of £15,000 a year. This figure can include benefits other than Housing Benefit.
How do I register for an affordable home?
You can now apply for affordable housing online by completing our electronic affordable housing registration form.
How do you find out what’s available?
We will then contact you by your preferred method (letter, email, text) when affordable homes are coming up in areas you have chosen. This applies to both homes for sale and for rent.
We will also publicise affordable homes on our website, in Carmarthenshire News, through press releases, on partner housing association websites, and through private developers where relevant.
What information do we need from you to be considered for buying an affordable home?
If you are interested in purchasing an affordable home you will need to complete a short form detailing your income, savings, you family makeup and whether it is a single or joint application. We will also need a mortgage certificate from a bank or building society confirming that they will give you a mortgage for amount necessary to buy the home.
Once we have this information we will then prioritise you as suggested in the table.
In the event of two or more families having the same priority for a home, the family nominated will be the family that applied on the housing choice register first.
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1 bed home
Couple or single person (equal priority) |
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2 bed home |
1st Couple or adult & 1 child or 1 other family member
2nd Couple |
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3 bed home |
1st Couple or adult & 2 or more children or other family members
2nd Couple or adult & 1 child or other family member or pregnant applicant
3rd Couple |
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4 bed home |
1st Couple or adult & 3 or more children or other family members
2nd Couple or adult & 2 or more children |
What happens next
?
Once we have accepted your application we will write to you informing you of this. You can then go to the property developer and put down a deposit on your preferred plot. Your solicitor will be able to provide you with the necessary information you will need to complete the sale.
Contact us
If you would like further information please contact the Independent Living and Affordable Homes Team on 01554 899325. Or drop into one of our Cus-tomer Service Centres.