Low cost housing schemes allow you to buy a home at below the full market value.
These homes are usually provided through agreements with developers on new housing developments.
How low cost housing works
Most properties are sold at a percentage of their market value, often around 70%. The exact level of discount may vary depending on the development.
These properties are secured through a legal agreement, which means they cannot be sold at full market value in the future.
If you are unsure how this affects you, you should consider getting advice from a solicitor before purchasing.
Who can apply
To be considered, you will need to:
- show that you need the discount to afford the property
- have a local connection to the parish, ward or district
Applying for low cost housing
You must:
- complete an application form
- provide supporting information about your circumstances
- be registered on the council's waiting list
You can request a form by:
Email: [email protected]
Telephone: 01228 817 079
Supporting documents
You will need to provide supporting information, including:
- proof of ID
- last two months payslips (eight weeks if paid weekly)
- evidence of savings (must be recent)
- last two months bank or building society statements from all current accounts
- a Decision in Principle or mortgage certificate - the mortgage advisor or lender must be made aware that the property is subject to a Section 106 Agreement
We may ask for additional information depending on your application.
Availability of properties
Discounted properties are made available through new developments and resale.
| Address | Property type | Open market value | Discount value | Marketed with |
|---|---|---|---|---|
| Turnstone Drive | 2 bed apartment | £125,000 | £100,000 | Emma Ewing |
| Wellside Walk | 3 bed house | £170,000 | £136,000 | Sold subject to contract |
| New build plots 22 and 23, Edward’s View, Burgh-by-Sands | 3 bed house | £235,000 | £164,500 | Plot 22 sold subject to contract |
| New build plot 24, Edward’s View, Burgh-by-Sands | 2 bed bungalow | £230,000 | £161,000 | Sold subject to contract |
| Howgill Way, Brampton | 3 bed house | £230,000 | £161,000 | Sold subject to contract |
| Howgill Way, Brampton | 2 bed house | £178,500 | £124,950 | Vicinity Homes |
| Edenside, Cargo | 2 bed house | £175,00 | £140,000 | |
| Hadrian Way, Houghton | 3 bed house | £210,000 | £147,000 |
Contact the estate agent or developer directly to arrange a viewing or to get more details.
Other housing schemes
Other schemes may also be available to help you access housing or build your own home. These have different criteria and application processes.
Self-build and custom housebuilding
You can register your interest in building or commissioning your own home.
This includes:
- building your own home
- using a builder
- buying a custom-built home
Self-Build and Custom Housebuilding
Shared ownership
Shared ownership allows you to buy a share of a property and pay rent on the remaining share.
Find out more about shared ownership on the Heylo housing website.