York council has bought 15 homes and upgraded their energy efficiency as part of an affordable housing initiative.
Now key workers and other eligible residents are being invited to apply for shared ownership.
The 15 homes originally had a poor energy efficiency. In the A-G grading system, they were D or below.
Using funding from the Department for Levelling Up Housing and Communities, the council has installed energy efficiency measures which has brought them up to grade C or above.
Among the measures installed are solar panels to generate free electricity, new boilers and/or radiators, hybrid heat pumps, double glazing, underfloor or external wall insulation.
The improved homes are in a number of locations across the city and include two, three and four-bedroomed houses and two-bedroomed bungalows.
Applicants can buy between 25% and 75% of the home, with the option of buying more shares as and when they can afford to. Rent is paid on the proportion of the house still owned by City of York Council.
To be eligible, applicants must:
- have a combined household income of less that £80,000 per year
- be first time buyers, or former home owners, or military or ex-military personnel
- be unable to afford to purchase a suitable home at market value
- not own a share of, or own any other property – unless you have a shared ownership home that you wish to move from to meet a change in your housing need
- have a minimum 5% deposit and be able to cover the cost of buying a property
- have secured a mortgage offer.
Cllr Michael Pavlovic, executive member for housing, said: “The average house price in York is 10.9 times more than the average wage, making it very difficult for people who are essential to the city, to afford to buy here. I’m particularly glad that we’ve invited eligible key workers to bid for these shared ownership homes.
“These homes not only make getting on the property ladder more of a reality, they can be heated more efficiently and with will less carbon emissions now and for generations of occupants to come.”