15/07/10....Help for local families on the housing register -
SOUTH Oxfordshire District Council is to spend £550,000 to help around 20 local families on its housing register to take their first step on the property ladder.
SODC says that recent research into housing needs
found that 55 per cent of people on the housing register want to own their own home but that 98 per cent did not have enough income. This scheme will
help them by granting successful applicants up to a £50,000 loan towards the purchase of their home, dependant upon their personal circumstances.
Dorothy Brown, Cabinet Member for Housing said:
“We’re very happy to be able to offer a shared ownership scheme to help residents get on the property ladder. Back in 2006/07 we supported 12 such schemes and now we can support even more.
“It’s a priority for the council to provide homes for all so we’re pleased to help make owning a property more affordable.”
The council’s funding will be matched by a soon to be decided housing association partner, who will give a further £500,000 towards the scheme.
