Investing in new homes

Many local people are enjoying living in their new homes thanks to investment by the Borough Council. The Council’s housing programme, designed to intervene and speed up the development of housing sites, will provide more homes to meet the needs of local people. Our partnerships with VIVID and Radian have delivered a record number of 496 affordable homes over the last 12 months.

By using our housing company and actively using our own assets and financial support we are unlocking housing opportunities and at the same time ensuring that the right infrastructure such as employment land, roads, schools, health provision and open spaces are provided alongside the delivery of new homes. These homes are being built as part of new communities that will encourage improved wellbeing and healthier lifestyles and to create sustainable places to live.

The range of schemes supported by the Council across the Borough will see around 3,000 homes provided over the next few years.

Of these around 330 homes are being built on behalf of the Council through its housing company or partners, and consist of a mix of affordable and private rent homes.

The private rent homes also benefit from the opportunity to have lifetime tenancies and an exciting ‘Rent to Own‘ scheme that provides a new route to home ownership.

Our developments

Kestrel Park, Bursledon (the former car boot sale site) is also under construction following intervention by the Council. The Council has acquired 45 properties that will be provided for private rent. The Council’s investment in this site will provide a new parkland area called Windhover Meadows that will be opened later this year and will also protect the green gap between Bursledon and Southampton. A key part of the development is the road that runs from Bursledon Road, easing congestion on Hamble Lane.

The Willows, West End is a unique development nearing completion at Hatch Farm. The site offers 98 homes (a mix of bungalows and houses) and was developed by Radian Homes following a direct grant from the Council. The grant ensured the viability of a high quality development and new community facilities.

Leah Gardens, Eastleigh - all 94 homes are now occupied, including 58 homes that are private rented homes offering lifetime tenancies and ‘Rent to Own’ options. This project was financially supported by the Council in partnership with VIVID.

Romsey Road, Eastleigh – Work is underway on a new development of 49 flats on Romsey Road in Eastleigh town centre.

The site, owned by the Borough Council, is being cleared in preparation for a new mixed use development. This investment in the town centre will also provide separate office accommodation for both One Community and Age Concern on the ground floor. There will also be a function room that will host a range of activities including weekly meetings.

All the flats in the residential development will be for market rent. On each of the first and second floors there will be 15 flats, some with balconies, the third floor accommodates 12 flats and on the fourth floor there will be seven flats on the Romsey Road frontage.

The main construction of the building will commence in early 2020.

Picture B: North Stoneham Park

Picture C: North Stoneham Park

Our schemes

Lifetime tenancies - this provides tenants with the chance to have longer tenancies than would usually be provided in the private rented sector. So tenants can live in the property for as long as they want as long as they don’t break the conditions of the tenancy.

Picture D: Jane and Ray, in their new home

Shared ownership is another way to buy your home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell. Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the housing ladder for lots of people and usually, you can also carry on buying shares, to own it outright.

‘Rent to Own’ scheme – is available to tenants who are privately renting one of our properties. This scheme helps tenants to buy the home they are renting. Tenants are responsible for the maintenance of their property and as such there is a saving to the housing provider. This saving can then be claimed by the tenants for a deposit to purchase their property after five years.

Shared ownership proves an ideal option for Jane and Ray

After 16 years living abroad, Jane and Ray Light made the decision to return to the UK to be closer to their grandchildren. Without a huge budget, shared ownership provided by Radian Homes, offered the perfect option to help them back onto the ladder earlier this year.

When picking where to relocate, Ray grew up in Bishopstoke and their daughter lived close by, so it made perfect sense to come back to the area. They soon fell in love with a home at Oakfield Grove in Bishopstoke.

Jane (69) and Ray (71) had enough money in the bank from the sale of their Spanish home to purchase 40% of their home, meaning their monthly payments consist of just the rent on the remaining share. Jane said, “Our rent is so much less than if we’d done so privately elsewhere. When you’ve worked hard all your life you don’t want to throw that money away, so shared ownership is a god-send for people like us, meaning we also have an equity stake in our home. There’s no way we’d have the home we do now without shared ownership.”

For more information visit: helptobuyagent3.org.uk