The affordable homes are being sold at 60% of the current market value and will always be sold on this basis.
At the point of resale an owner will, only in perpetuity, own 60% of the market value at any time regardless of the sale price.
Stair-casing to own a 100% share is not an option with an affordable home.
A Section 106 agreement applies. South West Help to Buy will process applications and assess clients based on their local connection to the Parish of Lostwithiel in the first instance:
Local connection is to the Parish of Lostwithiel in the first instance.
- have lived or worked on a full time basis within the parish for at least 3 years within the previous 10 years, or
- resident there for at least 10 of their first 16 years, or
- at the time of birth the family was resident in the parish.
Applications will be processed as follows:
After 60 days (22nd October 2017) – out to Secondary Parishes of St Sampson, St Winnow, Lanlivery & Lanhydrock, and need to be a Person in Need
After 90 days (21st November 2017) – out to Cornwall and need to be a Person in Need
After 120 days (21st December 2017) – Local Connection still to be met for Cornwall, but doesn’t need to be a Person in Need.
To reserve a plot a £1000 deposit is required, payable to Wombwell Homes, and a reservation form is to be completed which is held at the Brunel 2 Site Office in Lostwithiel.