A pioneering scheme which could lead to over 100 new affordable homes in Doncaster has been given the go ahead.
Doncaster Council has authorised St. Leger Homes to move ahead with the ‘rent-to-buy’ development to be built in Edlington.
Rent-to-buy is an arrangement which helps aspiring homeowners who are struggling to get a mortgage. If it becomes a reality the Doncaster scheme may be the largest of its kind in the UK.
Under the scheme customers rent a new property for at least 12 months and then buy it in the following four years getting part of their rent back as a deposit and payment evidence to help secure a mortgage.
The development would include two, three and four-bedroom homes along with 20 bungalows. A site has been identified close to the LIFT centre in Edlington. Mayor Ros Jones said: “The development of new affordable housing for the town is one of my key priorities and so I am very pleased to support St. Leger Homes as it drives this project forward.”