Posted: 08 February 2010 at 22:42 | IP Logged

The attached file gives information about low cost home ownership in Denbighshire

2010-02-08_224111_Home_Ownership.pdf  English Version

2010-02-08_230028_Home_Ownership_W.pdf  Welsh Version

Posted: 10 February 2010 at 20:05 | IP Logged

Anyone who like an application form can also obtain it from me at 18 Ffordd Meifod, Henllan or call me on 01745 813038.

If you know anyone that has a housing need now or in the future it is important that they are on the list.

Thanks

Posted: 12 February 2010 at 22:19 | IP Logged

Come on now someone must know someone who needs to get on the housing ladder !

Posted: 14 February 2010 at 12:57 | IP Logged

Can anyone afford it?

My breakdown on this is; An affordable house on the scheme with the buyer needing to provide £75k would need a deposit and a morgage So Mr & Mrs Joe Bloggs and 2 depndants on minimum wage (pretty much the norm these days) both working full time to receive £24k GROSS p/a would get a morgage of around £62k providing they have no other credit agreements, then pay rent on the subsidised portion of the property.

It's out of reach already!

If Mr & Mrs Bloggs have their children in nursery, Childcare costs are reported to be as much as £22k a year in some areas so does Mrs Bloggs stop working to be a mum?

Will Child tax credits and working tax credit cover the shortfall?

I doubt it

Affordable housing or not, you still need an executive salary to buy one!

The Banks are still offering mortgages based on 4.5 times your salary, according to the mortgage calculator on Halifax website, and are charging in the region of 4.5% above base rates!!!!!

Obviously they still want people to overstretch themselves

I don't want to pour cold water on anyone's ambition to own their own home but for most people working for low wages it's too far out of reach.

If I have got this all wrong then somebody correct me please.