Council Initiatives Supporting Home Hownership
The following initiatives have been established to help local people into home ownership. Some of the initiatives are funded through Welsh Government Capital Grant to Housing Associations and some are funded directly by the Council’s using money previously invested in similar initiatives or from contributions received, eg by payments made by Developers either instead of providing homes or because the homes were sold on the open market.
The expenditure is from limited budgets so every effort is made to maximise the investment to help people into home ownership through the following initiatives:
Bridging Loan Scheme for Self Builders,
Objective – To assist self-builders in constructing their home to a level where a mortgage can be obtained to complete the construction and repay the loan to the Council. Only available through Anglesey County Council.
Council Funded Home Buy Scheme
Objective – To assist persons in housing need who are financially unable to buy a home on the open market.
Council Funded Mortgage Rescue Scheme
Objective – To assist persons who would be a priority for re-housing, are in danger of losing their home and who own a proportion of the equity of their home.
Empty Home Grants
Objective – To encourage people to bring empty properties back into residential use.
Self – Build Sites Preparatory Works
Objective – To assist persons in need of affordable homes by undertaking essential pre development works on suitable and viable sites. The sites will then be developed either by self builders or a Developer for affordable homes.