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More than 33 new affordable rent-to-buy homes from innovative housing company Rentplus, will be built in Sherborne, Dorset, to give tenants the chance to own their own home for the first time.
The homes are part of the 112 home development Corelli, built by Persimmon Homes on Sheeplands Lane, Off Marston Road in Sherborne, Dorset. The historic market town has excellent transport and commuter links, as well as leisure and shopping facilities.
The Rentplus homes are available to rent initially at a reduced rate – a two bedroom house will typically cost around £125 per week – which the tenant is able to buy after either five, 10, 15 or 20 years. Rentplus will give each tenant a ten per cent deposit when they buy their home.
The homes will be marketed and allocated to households by Tamar Housing Society through Dorset Home Choice housing register (www.dorsethomechoice.org), which enables local people to bid to for the Rentplus homes. The adverts for these properties go live on Dorset Home Choice Monday 21 December – based on levels of interest experienced for the Rentplus scheme in Plymouth, people who are interested in renting and then owning their own home should move quickly!
Rentplus Chief Executive, Richard Connolly, said: “We are delighted to be bringing the Rentplus model to Dorset and giving local people the opportunity to buy their own home. The area desperately needs more affordable housing and our innovative model helps meet local housing need as well as establishing permanent homes for people wishing to buy their own property.
“If you are looking for a home and unable to afford a deposit, we’d encourage you to visit the Dorset Home Choice website and register your interest for these homes. Our last development in Plymouth was so popular we had more than 100 enquiries in the first 24 hours, so we’re expecting these homes to be just as popular.”
Julie Barnett, Chief Executive of Tamar Housing Society, said: “We have already seen an incredible response to our first development in Plymouth and are pleased to be working in partnership with the Council to offer the residents of Dorset the same opportunities.
“The Rentplus model helps hardworking people who are often priced out of home ownership the opportunity to get a step on the housing ladder with a gifted deposit. With local housing prices continuing to rise, this is a great opportunity for those looking to buy their first property to sign up.”
Sherborne is a small town in the picturesque Dorset countryside and the new Corelli development includes a mix of two, three and four-bed houses. Rentplus, which plans to build 5,000 new homes by 2020, is working with Tamar Housing Society to identify suitable tenants in need of an affordable rented home who aspire to buy their own home in the future, with the first homes due to be available in the new year.
Rentplus is also working with Persimmon to develop a site of 19 homes at Palmerston Heights in Plymouth.