Bath & North East Somerset Council is holding an Affordable Homes Show on October 13 as part of the Bath City Conference at the Guildhall.
People who are thinking about buying a home in the city are being invited to drop in to the Bath City Conference between 12.30 and 6.30pm to find out more about the different affordable home ownership options that are available in the area. They will be able to talk with representatives from local housing associations delivering affordable homes to buy, and even receive free, independent mortgage advice to help them make choices about the opportunities they might like to follow up.
The Council is making it easier to find an affordable home to buy in the district by advertising shared ownership homes on its HomeSearch Register, alongside homes to rent with housing associations. Households interested in affordable home ownership can register on Homesearch to receive up to date information about new delivery of affordable homes in the District, and can view new opportunities on-line
Cllr Paul Myers, Bath & North East Somerset Council’s Cabinet Member for Community Regeneration, said: “We recognise how hard it can be to get on the housing ladder, especially in Bath, so we are working hard to deliver affordable housing options for households who do not necessarily need a social rented home, but who cannot afford to buy a home on the open market. More than 150 people attended a similar event in October last year and the feedback was excellent. I would encourage anyone looking to buy a first home in Bath to attend this event.”
Low-cost home ownership options being promoted on October 13 are available to households earning £60,000 or less and who live or work in B&NES.
Currently the average price of a house in Bath is £449,415. This means that someone with a 10per cent deposit will need to be earning in excess of £74,000 to be able to comfortably afford their mortgage. Even the least expensive homes cost an average of £282,000 and require an income of £46,438. Housing associations, developers and private providers are building or delivering over 140 affordable new homes for sale in the next five years in Bath and its environs, including homes at the three former Ministry of Defence sites as well as in the centre of the city.