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Your New Home

The key to a new home

There are many different paths to your new home with a series of initiatives and schemes available to help.

Find out below just how some of these work and which may be the best for you.

Open market housing

This is housing which is sold through conventional means at market value. I.e. homes purchased through estate agents or direct from housebuilders, usually if new.

Private Rented Sector

Rents at market rates through individual landlords, portfolio or buy to let landlords and lettings agencies, among others. The sector can be of great value in complement other housing stocks – and we encourage quality PRS properties and development schemes.

Affordable Homes

Aimed at households who cannot afford to rent or buy suitable accommodation on the open market. It can be for rent or purchase and wherever possible should remain affordable for existing and future households. The majority of affordable housing is provided by housing associations.

Affordable Rent and Social Rent

This is specifically designed for households who are unable to afford to purchase a home on the open market.

Shared Ownership

Generally offered through housing associations. Purchasers usually buy between 25% and 75% of a property’s equity at market value using a mortgage. A capped rent may then be paid to the housing association on the remaining share. In some cases the owner may have the right to purchase further shares of the home to achieve outright ownership. Alternatively, there may be conditions governing resale to eligible households in affordable housing need.

Some developers and housebuilders now offer Help to Buy on their properties. Visit Help to Buy South West to find out more and register.

Low cost home ownership

Properties are purchased at a discounted market value, for example 70% of the open market value. This discount is applied to all subsequent sales. Like shared ownership the re-sale is usually restricted to eligible households in affordable housing need.

To apply for affordable rented housing: you will need to be on the housing register via Dorset Home Choice.

Purchasing an affordable home: you will need to be on the housing register via Dorset Home Choice and registered with Help to Buy South West.

Community Land Trusts (CLTs)

West Dorset is leading the way nationally in CLTs. It has 10 active CLTs – among the highest of any district in the country. CLTs are a form of community-led housing, set up and run by ordinary people to develop and manage homes as well as other assets. CLTs act as long-term stewards of housing, ensuring that it remains genuinely affordable, based on what people actually earn in their area, not just for now but for every future occupier. We have £2m worth of grants to support Community Land Trusts (CLTs) and want to see even more set up across North Dorset, West Dorset and Weymouth & Portland. Contact housing enabling team leader Paul Derrien for more details on 01305 252447 and pderrien@dorset.gov.uk

Key worker homes

Traditionally, this has meant affordable or discounted homes for certain employees which are vital for our communities, such as nurses and policeman. Some housing associations or councils now offer homes under wider criteria for those in such sectors as health, education, emergency services, prison service, probation service, councils, MoD and the Highways Agency.

We are exploring the possibility of defining key workers for our areas and setting a policy to give them a better chance of home ownership or rent.

Help to Buy

Created by the government to include a number of initiatives, including Shared Ownership. Other measures include equity loans and ISAs.
Visit https://www.helptobuysouth.co.uk/ and https://www.helptobuy.gov.uk/