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Hellens Residential has announced that 10 new build homes will be made available on the Rent to Buy Scheme at one of Teesside’s most sought-after locations, Wynyard.
The homes delivered will be a mix of two and three-bedroom properties on Stoney Wood Drive in the Stockton-on-Tees village.
Kate Hellens, managing director of Hellens Residential said, “We are delighted to be delivering much-needed affordable homes in Wynyard. Delivering affordable homes here provides a real opportunity for people to be a part of a great community. The Rent to Buy product is a fantastic new alternative to those working households who need time to save for a deposit. It offers something new and exciting for those looking forward to their future, providing the choice of home ownership to all.”
Rent to Buy is an affordable home ownership product, introduced by Homes England, offering a way onto the property ladder for working households, struggling to raise a deposit to purchase a home outright. Homes are offered for rent to potential purchasers at an affordable rate, giving customers the opportunity to save for a deposit at the same time. After five years they then have the opportunity to purchase their home outright.
Kate continued, “We think this scheme will be welcomed in the Wynyard area where many working people are not currently able to access the available housing due to the affordability constraints, but Wynyard is their desired location. It has great local amenities and its own primary school in the heart of the village which attracts families and couples alike.”
Hellens Residential applied to Homes England for the grant funding under the Shared Ownership Affordable Homes Programme to assist with the delivery of the 10 new affordable homes.
Robby Bailey and his partner Hannah Towns-Fairlamb are current tenant of Hellens Residential. Rob said: “We currently rent a home from Hellens Residential in Washington. When we were originally looking for our first family home, Hellens Residential did not have any homes available in Wynyard so when we saw these homes advertised and on the Rent to Buy scheme, we were so excited and applied immediately. Wynyard is our location of choice to raise our family but we have never seen it is an option for us due to the high rental values. We love the idea of investing in our current home with the chance to buy it in five years.”
Interest can be registered for the properties by visiting the Hellens Residential website and applying for a home (www.hellensresidential.co.uk) or by calling 0191 5946666.