A new way to buy your home
Planning permission was granted for this unique development on the condition that the majority of the homes were offered to local people at a permanent discount to their open market value. The Department of Energy and Climate Change has provided a £3m grant to subsidise the affordability, enable the development to be highly sustainable, and provide a showcase for construction using renewable materials.
The homes are sold at below market value, but with a mechanism to ensure that this discount is protected. Following completion of the first phase of homes at Long Meadow, the way in which this discount works is being reviewed in line with changes in the mortgage market. There is therefore a temporary halt on sales of the next phase of homes, pending completion of this review.
These homes are not for speculators or property investors. They are for local people to live in.