We will develop more homes and services for local communities

More affordable housing

There is a chronic shortage of affordable housing in the areas where we operate and we are keen to do our bit to help tackle the problem. We are committed to building more affordable homes for local families who need them. To do this, we are working in partnership with local councils and housing providers through our development framework.

This new framework provides access to a range of consultants with the expertise to develop new homes. Like other housing associations of a similar size, we cannot support an in-house development team with the range of skills and experience required. The framework offers significant flexibility and security to find sites, create opportunities and deliver homes.

Working in partnership

Other medium-sized housing providers can access the framework, without having to do the costly exercise themselves. By offering this resource to other providers in the area, we can make a significant impact in the communities where we work. So far, three councils are using the framework.

This year we built 40 homes and acquired a further 49. Our target is to build 50-60 homes a year, with half for affordable rent and half for shared ownership or private sale.

We are planning to roll out an option appraisal project, which helps to identify ccha-owned schemes that can be converted to provide more homes such as Byland Close or Birchanger where there is an underused car park.

“Your sales consultant, went above and beyond to give me detailed information about the process of buying a property. She was very patient, knowledgeable and professional.”
A shared ownership resident

Shared ownership

We are keen to offer a choice of ways for local residents to get onto the property ladder. Shared ownership provides an affordable route into home ownership. This is a relatively new area of the business for ccha and, at year end, of the homes we have for shared ownership, 60% were sold and 20% had been reserved.

How shared ownership works

01

A customer buys an initial share of the property, in this example let’s say 25%.

02

This means that 25% of the property is owned (through a mortgage) with rent charged on the remaining 75%.

03

The customer is able to buy further shares in the property as time goes on – this is called staircasing e.g. buying a further 10% would mean that 35% of the home is owned and 65% is rented.

04

If a customer decides to sell their share of the property, ccha has eight weeks to help the customer do this. After this time, the customer can list the property for sale themselves. If they own 100% of their home, they can list it on the open market straight away.

All upcoming and current homes for sale are available on our website at www.ccha.biz

Up next: Commitment 4