Derelict pub makes way for shared ownership scheme

13-Feb-2006

A shared ownership scheme is set to help more aspiring homeowners in Surrey get on the first rung of the property ladder.

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Local authorities in Dorking have agreed to remove an old pub building so that a number of new flats can be constructed on the disused site, helping to ease the area's lack of affordable housing.

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Planning permission for 12 flats has been approved by Mole Valley District Council, reports icSurreyonline, despite some protests that it would lead to an overdevelopment of the land.

Councillor Caroline Salmon welcomed the decision but emphasised the importance of ensuring that prices remained low and that potential buyers were able to raise the necessary finances.

"There needs to be realism with affordable housing. Nobody earning less than £24,000 is going to be able to afford them," Ms Salmon explained.

Shared ownership schemes will be used to finance some of the purchases, helping more first time buyers in the area to get onto the first rung of the property ladder.

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