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East Cambridgeshire District Council

East Cambridgeshire District Council hopes £100k homes will tempt buyers to Paradise!

£100k homes application deadline is 16 August 2024

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Four of the 13 homes under construction on the site of the former Paradise Pool, Ely, are to be released as £100k homes under a policy now restricted to East Cambridgeshire. Once a pinnacle of James Palmer, former council leader and inaugural mayor of the Cambridgeshire and Peterborough Combined Authority, the policy was scrapped in 2021 when Labour Mayor Dr Nik Johnson swept to power.

However, the scheme was preserved by Tory run East Cambridgeshire District Council with this the first scheme since they took it over.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

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£100k homes are new-build, 100% owned, one-bedroom properties, available to buy at a discounted market rate of £100,000.

The council says they are aimed at giving people who live or work in East Cambridgeshire “a genuinely affordable step on the housing ladder, while enabling them to live close to where they work”.

A range of documents provides information on the £100k homes and a leaflet gives you further information.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

The Allocations Policy (PDF, 162.7 KB) outlines the allocations process for £100K homes in East Cambridgeshire. It details the eligibility criteria, how applicants will be prioritised, and the process to accept an offer of a £100K home. The allocations policy is based on a point scoring system.

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If you have any queries about the £100k Homes scheme, please email 100khomes@eastcambs.gov.uk or telephone 01353 665555.

Market sale homes will be available via Cheffins and Palace Green Homes, the property company set up by East Cambridgeshire District Council in 2016, with the aim of “helping to address the shortage of new housing across the district”.

Councillor Anna Bailey, Leader of East Cambridgeshire District Council, said: “Our £100K homes provide an opportunity to meet the housing needs of those who would otherwise not be able to buy on the open market in their local area.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

Market prices for the first phase start from £275,000 for a one-bedroom home but for those who qualify four of these can be snapped up for £100,000.

“These eco-friendly homes have been beautifully constructed as part of a development of 13 new homes and will enable those local to the area who are struggling to get on the property ladder to live in the thriving city of Ely.”

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The discounted market rate stays with the property forever and is applicable for any future buyers allowing the scheme to continue benefiting residents in East Cambridgeshire.

The deadline to submit an application to purchase a home is 5pm on 16 August 2024

Paul Remington, chairman of Palace Green Homes, said: “We are delighted to be able to invite potential home buyers to our highly anticipated Eden Square development and look forward to seeing it completed and fully occupied!”

Richard Booth, director at Cheffins, adds: “We are pleased to be working with Palace Green Homes on the launch of this contemporary city development, offering an array of stylish and eco-friendly new homes to suit a range of buyers.”

 

 

 

 

 

 

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