FIRST time buyers are to be given the opportunity to buy an affordable home on Skipton’s Elsey Croft development in a shared ownership deal with Craven District Council.

Last year, the council lost its fight with the developer of Elsey Croft, Skipton Properties, to build 40 per cent affordable homes at the more than 90 home site when a planning inspector ruled Skipton Properties could build just 20 per cent - or 19 low cost homes.

Now, the council has agreed to buy six new two bedroom apartments on the estate, off Otley Road, saying by buying the homes, they will be occupied more quickly.

The homes will be made available on a shared-ownership basis, which the council says will help provide much needed affordable housing. The apartments will also add to its other shared ownership properties in Burnroyd, Cross Hills; Glusburn, Sutton-in-Craven, and Giggleswick.

Councillor Richard Foster, council leader, said: “These new-build flats are currently empty and the council is keen to see them occupied as soon as possible. We know affordable homes are at a premium in Skipton and it is not easy for young people and first-time buyers to get on the housing ladder.”

He added: “The council is stepping in to purchase these homes, which will mean they can be occupied more quickly. We will then make them available on a shared-ownership basis, which means local first-time buyers can benefit from much-needed affordable housing.Shared ownership housing allows people on low to middle incomes to get their foot on the housing ladder sooner, as they require a much smaller deposit and mortgage. Shared ownership will also provide the council with a stable rental income.”

Skipton Properties, will market the properties and identify six purchasers who qualify for the affordable homes. They are currently on the market with 35 per cent share, at £75.250 and £320 rental.Shared-ownership homes allow a household to buy a share of a home at a share of its market value, ranging from 25 per cent to 75 per cent. The resident then pays rent on the proportion of the property owned by the Council. The owners have the option of acquiring additional shares with a consequent reduction in the rental payment.