Affordable Housing

Low Cost Home Ownership

Affordable Housing - Alternatives to Social Rented Housing

Are you struggling to get on the property ladder?  Or would you like to know what other options you have other than Social Housing?

Within Neath Port Talbot there are several alternative housing options which fall under the 'Affordable Housing' umbrella including;

  • Low Cost Home Ownership (including HomeBuy and Try Before You Buy)
  • Intermediate Rent

What is Low Cost Homeownership?

Low Cost Home Ownership initiatives are designed to help people in housing need and on low incomes to purchase a property. Low Cost Home Ownership Schemes can include a range of different options. For example, HomeBuy and Try Before You Buy Schemes.

If you are a first time buyer and struggling to purchase a home on the open market or you are a home owner but because of a relationship breakdown are now looking to purchase in your sole name or purchase with a new partner, Low Cost Homeownership could be your answer.

What is HomeBuy?

HomeBuy is an affordable way of buying a property and enables First Time Buyers or those who are not already a Home Owner to get onto the property ladder.

With the HomeBuy scheme you will own 100% of your property but will only have to pay a mortgage on 50-70%, keeping your monthly mortgage payments affordable.

A Housing Association will lend you the remaining 30-50% under a HomeBuy Loan.  No part of the loan has to be paid until you choose to sell your property.  When you're ready to move up the property ladder, your property will be put on the market at the current market value and when its sold you will repay the HomeBuy Loan amount.

HomeBuy is not intended for people who can afford to buy a property without assistance.  Please note there may be additional purchasing options in the future that differ from HomeBuy.

For Example:
Property is valued at £115,000, depending on your financial circumstances, you would be expected to obtain a mortgage on anything from 50-70% of the properties value - whereby 50% is £57,500 and 70% is £80,500.

The remaining 30-50% of the properties value is lent to you under a HomeBuy loan by a Housing Association.  Therefore, this could be 30% = £34,500 and 50% = £57,500.  

When you choose to sell the property, you are expected to repay the HomeBuy percentage loan.  This means that if you borrowed 30% and your property is now valued at £120,000 on the open market, you will be expected to repay £36,000 and if you borrowed 50%, you will be expected to repay £60,000 - this equates to the percentage share and the cost of your property at the time of selling. 

What is Try Before You Buy?

This option is where the property is rented in the first instance (through Intermediate Rent - please refer to definition below) but where the tenant is then obligated to buy a share of the property within the 5 year rental period.  Please note there may be additional purchasing options in the future that differ from Try Before You Buy.

What is Intermediate Rent?

Intermediate rent is targeted at individuals and households who are unlikely to have access to social housing and who can afford the housing costs. Therefore intermediate rent levels are set below market rents but above social rents.

The aim is to assist the target audience to secure good quality affordable housing, enabling them to save money towards deposits for purchasing their own home – whether outright or through Low Cost Homeownership Schemes.

Are these Schemes for me?

As an existing resident of Neath Port Talbot, you may have considered buying or renting a property on the open market but have not been able to do so.  Not everyone will be eligible for the above options.  Eligibility criteria can depend on household earnings and other criteria.  Other factors may depend on the nature of the individual scheme and to whether the property is for purchase or rent.  People who live outside of the Neath Port Talbot County Borough area may not be eligible unless there is an employment or close family connection to the area.

How do I express an Interest in these Schemes?

Please keep an eye out on this page as newly developed schemes will be advertised here. 

You can also contact the following organisations for further information:

o   Pobl Living

o   Linc-Cymru

o   Pennant Homes


Help to Buy (Wales)

If you are struggling to buy a home in Wales, you may be able to get financial support through a variety of home ownership initiatives.

Help to Buy – Wales is an initiative to help first time buyers and existing home owners purchase a new-build home up to a value of £300,000 with as little as a 5% deposit. It applies to all eligible buyers in Wales. All builders – large and small – are able to register with the scheme.

For more information;

Neath Port Talbot Local Housing Strategy 2015 - 2020

The key purpose of the Local Housing Strategy is to set out an agreed vision for addressing the housing needs of its Citizens over the forthcoming years;

"Our Vision is that Housing in Neath Port Talbot will be appropriate, affordable, of good quality, in sustainable communities, offering people choice and support if they need it".

The Strategy includes highlighting the need for more Affordable Housing and seeks to increase the Supply and Accessibility in the right areas of the Neath Port Talbot Borough.

The Strategy also aims to improve the Quality of Housing Stock (both Social and Private Housing) and to ensure that Housing Support is available to those who most need it. A copy of the Local Housing Strategy can be downloaded HERE (PDF).

Pennant Homes Low Cost Home Ownership

Pobl Living


Pennant Homes

Area Profiles

Firebreak Wales

Energy Saving Trust - Home Ownership Schemes