Residential Conveyancing News
Safeguarding of affordable housing in rural areas - John Morshead
On 12 August 2009 the Department for Communities and Local Government (DCLG) announced that affordable rural homes in thousands of newly designated 'protected' areas will be safeguarded for future generations of first time buyers under new provisions.
In rural areas where replacing affordable housing is difficult new shared ownership properties will have to remain shared ownership to ensure future buyers also have a chance to step on to the property ladder.
Generally, shared owners can staircase up to full ownership. But in some rural areas it is difficult to replace homes that become fully owned and are subsequently sold on the open market.
Now under new powers in the Housing and Regeneration Act 2008 more than 13,000 small rural settlements will be designated 'protected' areas across England. These will be areas where land to build new affordable homes is severely limited or where it is not possible to buy existing properties for shared ownership because of the small size of the housing market.
If you require any further advice on a property related matter or if you are buying or selling a home please speak to a member of our Business & Property Services Team on 0151 647 9381, 0151 342 6273 or 0151 625 9364.
John Morshead
This article provides a summary of a recent case/change in law/news item. It is intended for general information purposes only and is not to be relied upon. It does not constitute legal advice and should not be treated under any circumstances as a substitute for legal advice. Lees Solicitors LLP does not accept any responsibility for any loss that may arise from reliance upon the information contained within this article. The copyright in this article is owned by Lees Solicitors LLP and permission must be sought before reproduction or publishing.
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