Home Buying Advice
Affordable Housing
Affordable housing is a general term to housing that is offered through favourable schemes to make it affordable. It is generally considered that affordable housing is primarily targeted at key workers and in rural areas.
The Government believes everyone should have the chance to own a decent home, which they can afford, within a sustainable mixed community. Provision of affordable housing should meet the needs of the whole community, including those whose needs are not met by the housing market, and should include a good balance of housing types and tenures.
Affordable housing schemes include social rented housing and intermediate housing provided for households whose needs are not met by the housing market.
The Government also supports some households (e.g. key workers, social tenants) in their aspirations to buy a home through providing shared equity homes. Affordable homes are provided at sub-market prices, and restricted to specified types of household. The Housing Corporation provides social housing grant to registered social landlords and other bodies to provide additional affordable homes.
The Government's affordable housing policies have lead to its HomeBuy schemes, the first time buyer initiative and the English Partnerships programme.
The Government's HomeBuy schemes are available to first time buyers with a household income of less than £60,000 per year.
To find out if there is an affordable housing scheme in your area that you can apply for, contact your HomeBuy agent.