Affordable housing

The Government's definition and types of affordable housing can be found in the glossary of the National Planning Policy Framework (NPPF).

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.

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.

If you interested in affordable housing to rent, North Tyneside Homefinder advertises affordable housing across North Tyneside.

North Tyneside Homefinder advertises affordable housing across the borough. You can also get advice on a range of other housing choices, such as mutual exchange, renting with a private landlord and low cost home ownership.

North Tyneside Homefinder is a Choice Based Lettings scheme which means you can apply for housing in the borough.

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.

Housing developments that have an intermediate affordable housing provision can be found below:

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 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 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.

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.

Housing Strategy Team
Telephone: (0191) 643 6204
Email: housingstrategy@northtyneside.gov.uk