This page provides information about affordable housing in North Tyneside,
Social rented housing
This is rented housing, owned and managed by councils (council housing) and housing associations. It's generally offered to those in housing need from a register (waiting list), at rents well below market level.
Affordable rented housing
Like social rented housing, but the rents charged by the housing association or council could be anything up to 80% of market rents. The increased income from higher rents is used to build more affordable homes.
Applying for affordable homes to rent
If you interested in affordable housing to rent, Tyne and Wear Homes advertises affordable housing across the region. Tyne and Wear Homes is a partnership of Gateshead Borough Council, Newcastle City Council, North Tyneside Council and South Tyneside Council, their housing providers and Registered Social Housing landlords. It is a Choice Based Lettings scheme which means you can apply for housing in any of these areas.
Intermediate affordable housing
Intermediate affordable housing is generally a step to home ownership for those who can't afford to buy a home on the open market. More information on intermediate affordable housing products can be found at the Help to Buy website.
Location of new build intermediate affordable housing
Housing developments that have an intermediate affordable housing provision can be found below:
Help to Buy
The local Help to Buy agent has the authority to give you the go-ahead to purchase the following intermediate affordable products:
- Help to Buy: Equity Loan
- Help to Buy: Shared Ownership
- Home Ownership for People with Long-Term Disabilities (HOLD)
- Older Peoples Shared Ownership (OPSO)
- Rent to Buy
The Help to Buy agent will also help you understand the schemes; assess whether you are eligible to take part; do an initial assessment of affordability; and guide you through the home buying process.
Discounted market value housing
Discounted market value housing is a home bought at a discounted price from the market value. The home is discounted in perpetuity and therefore must be sold at the same percentage discount as it was purchased. Frequently asked questions on discounted market value housing can be found below:
Purchasing a discount market value property
Purchasing a discount market value properties can be done either directly from a developer of a new housing development site, or through the re-sale of an existing discount market value property advertised through an estate agent.
Discount market value property sales and purchases are controlled by Section 106 legal agreements and each S106 agreement has different criteria which need to be followed. It is recommended that you read the Section 106 agreement for the site you are wanting to purchase on. Some sites have specific criteria which may affect your eligibility to purchase the discount market value home. In the case of a re-sale of a discounted market value home, the conveyance solicitor will ensure the terms of the Section 106 agreement are met.
If you are buying a new build home the sales team at the developer site that you are interested in will explain the eligibility criteria for purchasing an intermediate affordable home and the terms and conditions of the sale.
Sale of a discount market value property
Firstly, check the requirements of re-sale in the Section 106 agreement for your development.
You will then need to obtain an up-to-date estate agent valuation or a RICS valuation of your home to ascertain its market value. Once a price has been agreed, appoint a local estate agent to market and advertise the property for sale at the discounted rate specified in the Section 106 agreement. Be aware of any other advertising requirements in the Section 106 agreement, such as eligibility criteria.
Once an interested party is found it is the responsibility of the purchaser’s solicitor to ensure the purchaser complies with the eligibility criteria in the Section 106. agreement.