In line with Mole Valley District Council’s draft Affordable Housing Strategy 2020 to 2025, we are delighted to announce the completion of 10 new affordable housing units at ‘The Saddlery’ in Little Bookham, which forms part of an open market development by Thakeham Group on previously developed land. Leatherhead based, Mount Green Housing Association, working in partnership with Mole Valley District Council took handover of the completed units at the end of March 2020. The 5 rental units are already allocated and will provide much needed, long term, social rent homes for individuals and families previously on Mole Valley’s Housing Register. An investment of £315,000 was made by Mole Valley District Council to Mount Green Housing Association to ensure the rents were set at an affordable level. The 5 shared ownership homes, which are economically priced, are now on the market and are ready to be viewed virtually, with applications being progressed so that the new home owners will be ready to move in as soon as possible.
Councillor Elizabeth Daly, Cabinet Member for Wellbeing said, “We live in an extremely desirable and attractive district, meaning homes in Mole Valley sell at prices above the national average and rents are often well above Housing Benefit levels. Consequently, people on low incomes cannot always afford housing in our area. By working with partner agencies such as Mount Green Housing Association and by investing in developments such as ‘The Saddlery’ we are proactively assisting these families and individuals by creating long term housing solutions to help bridge the gap.”
Bill Flood, Chief Executive of Mount Green Housing Association said, “’The Saddlery’ is an excellent example of our strong working partnership with Mole Valley District Council and Thakeham Group, which demonstrates our commitment to making sure we offer a great quality, affordable housing solution for our local community. The investment from Mole Valley helps us to keep the rents lower than would otherwise be possible, without having to compromise on quality.”
For more information on shared ownership and the units which are available to buy at ‘The Saddlery’ please visit https://www.helptobuyagent3.org.uk/
‘Social rents’ are set using a government formula. This creates a ‘formula rent’ for each property, which is calculated based on the relative value of the property, the size of the property and relative local income levels. By charging ‘social rent’, housing associations make the rental of their properties more affordable for those on low incomes.
Through investment, over the last 15-years, Mole Valley District Council has enabled 875 new affordable homes, an average of 58 homes per year. The target set by MVDC was 50 per year. This rate has been achieved despite the constraints of reducing levels of government subsidy, high land prices typical of the South East and the fact that 90% of the district is designated Green Belt, Area of Outstanding Natural Beauty or open countryside.