Flintshire County Council has received Strategic Capital Investment Funding (SCIF) of £800,000 from the Welsh Assembly Government to promote access to sustainable home ownership, by assisting people who can’t afford to buy on the open market via the Homebuy scheme. The scheme will be run by local housing associations.
People eligible to take part in the scheme will be provided with an equity loan of up to 30% by a housing association (up to 50% in rural areas) to purchase a qualifying property. The balance of the purchase price will be funded by the applicant through a conventional mortgage and savings.
Applicants will be selected from the Flintshire Affordable Homeownership Register which was launched earlier this year.
Helen Brown, Flintshire County Council’s Executive Member for Housing, welcomed the announcement saying:
“This additional funding is great news to help local people to purchase homes on the open market in the county – particularly first-time buyers. In order to assist as many people as possible, it is essential that people register on the Flintshire Affordable Homeownership Register, so that the Council is aware of their housing circumstances”.
For more information about the Flintshire Affordable Homeownership Register please contact Penny Storr at Flintshire County Council’s Housing Strategy Unit on 01352 703830.
