Shared Equity Scheme – This scheme has been set up to help local people from South Lakeland purchase a home of their own in certain rural areas by allowing them to purchase a share in a property from the open market with Impact Housing Association Limited contributing the remainder. Areas Eligible for this scheme are rural areas in South Lakes as well as the towns of Cockermouth and Keswick
The initial share to be purchased must be between 50-70% of the open market valuation of the property with the possibility in the future to purchase further shares. The maximum eligible house price is £175,000 with Impact’s contribution a maximum of £70,000.
The purchaser would be responsible for all outgoings and repairs at the property as though they owned it outright with the exception of the buildings insurance which Impact would arrange and reclaim from the purchaser.
Pillar Homes Schemes:
Shared Equity In Ulverston – This scheme provides the opportunity for local first time buyers to purchase a newly built property in Ulverston at an affordable price. The houses are being built by Persimmons with the first affordable ones being available in Summer 2005.
For further information on any of the above scheme please contact:
