A housing developer has announced plans to build around 500 new homes in the Wellingborough area over the next five years.
Wellingborough Homes are already working on two developments to build nearly 70 homes in the borough, but have plans to take their tally up to 500 before 2021.
Their current developments include a 20-home area in Earls Barton and a 48-home scheme in Mitchell Court, Wellingborough.
Denise Lewis from Wellingborough Homes told the Northants Telegraph: “We are committed to developing new homes which meet the needs of people in Wellingborough, including those who want an affordable home to buy as well as rent.
“We are particularly focused on increasing the number of homes for shared ownership in response to the Government’s push to increase opportunities for first-time buyers to buy their own home and increase the levels of home ownership.
“We will of course continue to provide homes for affordable rent for those without a deposit or enough income to secure a mortgage.
“Our recent experience of selling homes under shared ownership has shown that there is unmet demand from people who want to own their own home but cannot afford to buy a property on the open market, and we are determined to respond to that and help residents in Wellingborough benefit from secure, affordable accommodation.”
Five shared ownership properties at the Earls Barton development will be available from spring, giving future home owners the chance to purchase a stake in a house. The scheme would then allow the buyers to eventually increase the share they own of the house up to 100 per cent as they start to earn more.
The development activity is funded in a number of ways, including grants from the Homes and Communities Agency and through developer contributions.
For more information on shared ownership properties in Wellingborough and the wider region, call 0844 892 2506.