ONE hundred and fifty shared ownership homes are in the pipeline for West Devon as the demand for affordable housing hits new heights. Shared ownership is an option for people who cannot afford to buy their own home outright by providing them with that all-important first step into the housing market. People can buy a share of their home and rent the remainder from a housing association. In many cases there is an opportunity to buy further shares in the property and eventually own the home completely. For Craig Gilder, 28, who works in Tavistock and is a part-time accountancy student, buying a half- share in a two-bedroom apartment at Tiddybrook is a dream come true. Craig decided to go for a 50% share in the £120,000 property and with the help of a £20,000 investment from his parents, now has a manageable £40,000 mortgage. In his particular case, he does not have to pay any rent. 'There is no way I would have been able to afford to live here without shared ownership,' said Craig. 'I have always aimed to have a place of my own and it's fantastic now it has happened.' In August last year 1,700 households were on West Devon's housing register, but that is increasing by around 60 new households a month. Next year the borough will be providing 225 new affordable homes — it represents a 'significant increase' of 10% on the number of affordable homes properties in the borough, 50 of which will be shared ownership. Another 100 shared ownership homes — ranging from apartments to two and three bedroom homes — will be built within the next few years in Tavistock and Bere Alston and other locations in the north of the borough, including Okehampton. The borough council's policies require at least 35% of homes on most new housing developments in the borough to be affordable, the majority of which are for rent. Housing advice team leader Rupert Warren said in an effort to keep houses affordable in perpetuity some shared ownership homes, particularly on Dartmoor, could not be bought completely and the level was set at 80%. 'Potentially, there is a problem if a lot of these homes became 100% owned by the household because they could then be sold at normal market prices and then we start to lose our stock of affordable housing,' he said. 'But shared ownership does give householders an opportunity to get on the housing ladder and the Government is very keen on it.' To be eligible for shared ownership you must have a connection with West Devon, ie you live or work there or have immediate family living there, be at least 18 with an income of no less than £15,000 and be able to obtain a mortgage and pay costs associated with buying a home, including a deposit. For further information contact the borough's housing advice team on 01822 813600 or go onto the website: http://www.westdevon.gov.uk/shared">www.westdevon.gov.uk/shared ownership
