Wincanton welcomes Rent to Buy scheme
A ribbon-cutting ceremony was held on June 19 2019 to celebrate the much-anticipated completion of 15 brand-new, affordable homes in Wincanton. The seven two-bedroom and eight three-bedroom homes are the first properties let by Stonewater on the Buy to Rent scheme.
Located within walking distance of the High Street, the Vedelers Close development, supported by Homes England funding, has been brought to Wincanton by leading housing association Stonewater, in partnership with Halsall Construction and South Somerset Council.
With house prices in the South West continuing to rise at a faster rate than incomes, getting on the property ladder is impossible for many. Stonewater’s Rent to Buy scheme gives working families the chance to rent a brand-new good quality home, at 80 percent of the market value rent, with an option to purchase the home at the end of the five-year tenancy.
Matt Crucefix, assistant director of development at Stonewater said: “The Rent to Buy scheme has been created to give more people a fairer and more realistic opportunity to work towards owning their own home, whilst renting it.
“At Stonewater we’re proud to make housing more affordable in places like Wincanton, especially as getting on the property ladder while you pay rent each month can be very difficult.”
Each home also benefits from its own private garden and parking for two cars. As part of the development, a green area featuring a community bench has also been created by Stonewater and its partners.
Cllr Susan Shelbourn-Barrow, mayor of Wincanton said: “It has been a pleasure to welcome these new good quality homes from Stonewater. This innovative scheme is not only helping the local council to resolve the housing crisis in the area, but it has made a huge difference to the families that have moved in and been able to stay close to other relatives and friends.”
To find out more about the Rent to Buy scheme and see how it is positively impacting families in Wincanton, visit Stonewater’s website and read Dominic and Katie Harding’s story.