Wembury, Knighton Road
Tamar Housing has been working with Rentplus, J & M Homes and South Hams District Council to provide 6 new homes at Knighton Road, Wembury. The scheme comprises 6 affordable homes, all for Rentplus, and 20 private sale homes. Two one bed apartments and four 2 bed houses make up the Rentplus homes. The 6 Rentplus homes were among the first completed on the site in July 2017.
The Rentplus properties comprise;
- 2 one bedroom flats (Rents approx £425 pcm)
- 4 two bedroom houses (Rents approx £540 pcm)
The Rentplus homes will be available for occupation in July 2017.
Local Connection
Applicants with a local connection to the parish of Wembury will be considered first. A local connection is (in order of preferance);
a) Has been living in the parish of Wembury for 3 of the last 5 years
b) Has permenant work (16 hours per week or more) in the parish of Wembury for at least the last 3 months. Self employment can be considered
c) Has a family member (parent, sibling or children) who have been living in the parish of Wembury for the last 5 years
d) Has been living in the parish of Wembury for 6 of the last 12 months
If there are insufficiant applications from people with a local connection to the parish of Wembury, Tamar may consider those who have a local connection to the South Hams, although it is unlikely that this will be possible.
Who is Rentplus suitable for?
Rentplus is aimed at people who are looking to move into home ownership. You might be renting privately, living with relatives or renting from a housing association or Council. Rentplus will be especially attractive to younger families who will be able to get a mortgage in 5 to 20 years.
You will need to show that you can save a deposit over a number of years, that you will be able to get a mortgage and that you are committed to home ownership.
Rentplus would be suitable for people who
- Are in work or in training
- Have been saving for a deposit or are able to do so
- Have a good credit history
Rentplus will especially suit people who are looking to buy a home but aren’t able to do so yet, as you will get the chance to save up for a deposit while living in your new home. You might be looking to get a better job, training for a career or looking for promotion.
What should you consider before bidding for a Rentplus Home?
You should consider the following questions carefully before bidding.
a) Can you afford to pay the rent and start saving for a deposit?
b) Will you be able to get a mortgage when your home comes to the end of its time as a Rentplus home?
c) How old will you be when your home comes to the end of its time as a Rentplus home? If you will be over 50 this might affect your ability to get a mortgage.
d) Are there better housing options for you? If you are high on the HomeChoice list, waiting for a Housing Association home might be a better option.
Applying for Rentplus
Rentplus is new type of affordable housing aimed at people who aspire to home ownership.
You will be able to rent a home at an affordable rent (80% of the market rent) for between 5 and 20 years. At the end of this time you will get the chance to buy your home with the benefit of a gifted deposit.
Priority for Rentplus homes will be given to those bidding using Devon HomeChoice (see above link) in the first instance. Should there be insufficiebnt applications with a local connection who bid then Tamar will consider applications made directly.
To apply dircetly to Tamar please click on the "applying for a Rentplus home" link above.
Why Might my Application be Rejected?
Tamar will carry out a number of checks on your circumstances and finances, to ensure that Rentplus is the right sort of housing for you. This includes a home visit and checking with credit agencies. Applicants may be rejected where
- You do not have a local connection to the parish of Wembury or other applicants have a stonger local connection (see above)
- You are not in work or training
- You can't afford the rent
- You have debts or other circumstances which indicate that you're not ready to start saving towards a deposit
- You have a poor credit history
- You have a history of rent or mortgage arrears
How Does Rentplus Work?
Each Rentplus property is included in the Rentplus scheme for an Agreed Period of between 5 and 20 years. At the end of the Agreed Period for each home it is sold, with preference to you, the existing tenant, with the benefit of a 10% gifted deposit from Rentplus.
On each scheme properties will be availiable with Agreed Periods between 5 and 20 years as set out below.
25% of properties will be Rentplus homes for 5 years
25% for 10 years
25% for 15 years
25% for 20 years
Initially, you will be given a five year tenancy, and this will be renewed every five years until the property reaches the end of the Agreed Period.
What type of home could I get?
You may be able to get a home with up to one bedroom larger than your family needs now, although this will depend on availability and whether you can afford the rent.
At the start of the tenancy the rent will be set at an affordable rent, which is 80% of the market rent. This will only be increased by a maximum of the Consumer Prices Index plus 1% every year. At the end of each 5 year tenancy the rent will be reset to 80% of the market rent again. There is no deposit but you will be expected to pay the normal household bills.
Do I have to buy my home or can I choose any home?
Rentplus is set up to help you buy your home. You won’t be able to trade or swap with anyone else or buy a different home.
What happens when my property comes to the end of its time as a Rentplus home?
We hope that you will be able to buy your home at this point. We will help you to find a mortgage and support you through the purchase of your home.
If you can’t buy your home you may be able to get longer to save up for a deposit if we can swap your home with another in the same area. If we can’t swap and you can’t buy your home we will support you to find alternative accommodation.
What if I want to buy my home earlier than its time as a Rentplus home?
This may be possible. If another family is unable to purchase their home you will be given the chance to buy your home instead.
Am I guaranteed a home for as long as my property is a Rentplus home?
So long as you pay your rent, do not cause a nuisance, look after your home and there are no significant changes in your family circumstances you will be able to remain in your property while it remains a Rentplus home. You will get a 5 year tenancy, and this will be renewed in line with our published policies so long as you continue to meet the criteria.
What if I want to move out?
You can move out whenever you want, you will just need to give Tamar four weeks’ notice in writing. You should speak to Tamar if you want to move out.
Do I have the same rights as other social housing tenants?
Broadly yes, you have the same rights. Tamar will be responsible for carrying out repairs and looking after any communal areas. You can also (in accordance with Tamar's policy or after asking permission) take in lodgers, run a business from your home, keep pets and make improvements to your home.
You won’t have
- The right to exchange with another social housing tenant
- The Right to Buy or the Right to Acquire
If you are moving from social housing you will be losing some rights. You should seek advice about this from the CAB or other housing advisor.
What happens if I apply?
First we will check whether your meet the basic criteria.
This means
- That you are working or in training
- That you have no adverse credit history
- That you do not have high debts.
We will then ask to see the following;
- A copy of your credit history
- A copy of your last 3 months bank statements
- Proof of your local connection
We will then visit you in your home to ensure that the details you have given are correct.
- Your employment or training contract
- Your income, such as wage slips and benefit books
- Your debts and savings, including bank statements
- Your family make up
We will check to ensure that you can afford the rent now and save for a deposit in the future. We will help you to understand what you will be expected to do to have a Rentplus home and how you can prepare for home ownership.
We will then assess your application, and if you are successful we will offer you a property, with a maximum time as a Rentplus home between 5 and 20 years.