Capture Housing And Orchard & Shipman Major Step Forward For The Affordable Housing Market

A new scheme to boost the supply of affordable homes by one of the country’s leading registered providers of social housing and an Isle of Wight based affordable housing provider was finalised yesterday. Buyers into the scheme can acquire between 60% and 75% of the 125 year lease of the property. Competitive mortgages for this type of purchase have been organised.

Orchard & Shipman Homes Ltd and Capture Housing have completed this scheme in Ryde providing 15 shared ownership flats and houses. Said Chris Shipman, Chairman of the Orchard & Shipman Group, “This is an important development for those trying to get on to the first rung of the housing ladder, the step that is so difficult for so many.”

The Ryde scheme has been developed on behalf of Capture Housing by Captiva Homes and provides 15 properties in a mix of 2 and 3 bedroom homes with open market values ranging from £175,000 To £245,000. Therefore, prices start at £105,000 for a two bed coach house.

Said Peter Griffiths, Director of Capture Housing, “We are pleased to be working in partnership with Orchard & Shipman as they have worked with us to deliver lower costs for the rental part of the shared ownership than would normally be the case, resulting in making the homes more affordable for island residents.”

Added Chris Shipman, “As a registered provider of social housing for a number of local authorities throughout the country, we have been looking for new ways to speed up the provision of affordable homes so we are delighted to be able to work with Capture on this scheme.”

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