Homes to own from Vectis HA
As part of our commitment to provide new homes for Island households in need, we recognise that there is a real demand for home ownership. Although this may be their aspiration, lower wages on the Island or a lack of the deposit needed to secure a mortgage may be real stumbling blocks.
As a result, we have included options for home ownership in a number of the developments we are currently involved in or are negotiating.
In many, if not all cases, these homes will initially be focused on households with a local connection to the areas in which we are developing. This is generally part of a planning requirement in operation to support local communities.
We developed 4 2- and 3-bed houses in Bembridge that have been sold at 80% of the open market value to local households in 2017.
We completed 2 shared ownership bungalows in Forelands Fields Road, Bembridge early in 2018.
We completed 3 shared ownership houses at Bouldnor Mead, Yarmouth in 2020
We completed 3 shared ownership houses at Ash Lane in 2020. We are currently about to pilot a scheme of 2 Rent-to-Buy flats also at Ash Lane. This will enable applicants to move in on a fixed-term tenancy and save for a deposit to buy the property.
We are currently finishing 2 shared ownership houses at Alvington Manor View in Gunville.
We hare recently started on site at Branstone Farm, Arreton with 16 shared ownership units due for completion in early 2021 and 2022.
In the near future, we also expect to have further shared ownership units at Calbourne and Brighstone.
If you wish to express an interest in any of the above schemes, please let us know.