A new housing development in Whittingham includes a selection of low-cost homes.Advertisement
Elan Homes is building 21 homes on land at Henry Littler Way. The development, known as Whittingham Fold, offers a choice of three and four-bedroom properties.
The homebuilder is working with Preston Council to help make owning a new build home easier to afford.
Subject to eligibility criteria, selected properties are being sold at a discount to market value. It means that eligible purchasers could secure a brand new home at 67 per cent of the open market value.
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Marie Morris, sales director for Elan Homes in the North, said: “It’s important that when we plan and build new homes, we cater to local housing need.
“Our Whittingham Fold development may be small in scale with just 21 properties but is helping address local need, including a requirement for low-cost homes, ideal for those starting out, starting over or downsizing.
“It’s a welcome boost to local people who may otherwise think they’ve been priced out of the housing market.”
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The affordable housing scheme is part of a government initiative designed to offer better access to housing and help first time buyers get a foot on the property ladder, by providing low-cost housing.
Eligibility criteria to purchase a property at discount to market rate includes having a local connection to the Preston area, being able to demonstrate a housing need for the property type, and either being a first time buyer or having sold an existing property before completing the purchase of the discounted property.
To purchase in this way buyers must not be able to afford a property on the open market and have a total household income of less than £53,000.
Plot nine, a three-bedroom Glossop is available under the scheme for £174,197.
Open market prices at Whittingham Fold start from £259,995 for a Glossop style property, with four-bedroom homes available from £354,995.
For more information visit the Elan Homes website.
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