A young couple are celebrating after becoming the third household in Rhuddlan to buy their own home through Denbighshire’s Homebuy Scheme with the aid of a commuted sum – that is funding received from a developer in lieu of affordable housing on certain new build schemes in the county.
The timing was even better for the happy new home owners, Emily Gizzie and David Johnson particularly because of their new arrival, five week old Myles!
David said: “The scheme is great and we definitely wouldn’t have been able to buy the house we wanted without it.
“It has meant that we could look for a house on the open market and find one that was completely suited to us.”
“We’d like to say ‘thankyou’ to Tai Clwyd and Denbighshire staff for all their help throughout the whole process.”
The Homebuy Scheme, which is run in conjunction with Tai Clwyd Housing Association, gives the applicant a 30% interest free loan towards the purchase of an open market property and is one of the affordable housing opportunities available to anyone who qualifies to be on the Affordable Housing Register.
County Councillor, Ann Davies, said: “Through the commuted sum funding Denbighshire is able to give eligible families financial help to purchase their own home.
“I am delighted that this scheme has enabled three families in Rhuddlan to purchase a property.
“I hope we will see similar funding initiatives again in future.”
Cabinet Lead member for health, social care and wellbeing, Councillor Pauline Dobb, added: “It is wonderful to see a young couple being able to buy their own home with the aid of schemes like Homebuy and I wish David, Emily and Myles every happiness for the future.”
The funding for the three Homebuy’s in Rhuddlan was made possible thanks to the commuted sum payment – one stipulation of the commuted sum is that it must contribute towards affordable housing in the area it came from.
The Homebuy loan is subject to funding being available. No interest or rental needs to be paid on the amount borrowed. The equity share is held by a housing association. The house will be yours and the 30% loan is only paid back if you sell the property.
If you would like to know more about the Affordable Housing Register and how to apply please contact: The Affordable Homes Officer, Cymdeithas Tai Clwyd, 54 Vale Street, Denbigh. Tel: 0345 2303140 Web: www.taiclwyd.com
