Affordable homes released onto open market in Carmarthen

A SMALL number of low-cost, affordable homes in Carmarthen have been released onto the open market, making it possible to buy a three-bed property for less than £85,000.

Persimmon Homes West Wales built 14 affordable homes for Carmarthenshire County Council at its Cwrt y Llwyfen development off Llysonnen Road in Johnstown.

The homes were built as part of the Section 106 agreement when planning permission was granted.

Nine of the houses have been filled, but the remaining five have now been released back to Persimmon to sell on the open market.

Under the terms, the houses must remain affordable under a shared equity agreement. The council will retain 40 per cent of the property while the owner has 60 per cent equity.

The council will always retain its percentage in the properties.

It means that people could own a three-bedroom, semi-detached property for just £81,041.

Any properties bought to let must be made available at an affordable rent level in line with the Local Housing Allowance.

Sharon Robinson, sales director at Persimmon Homes West Wales, said the initiative would help those on lower incomes take a step onto the property ladder.

She said: “We’re delighted to be able to offer these five properties at these incredible prices.

“The houses will always remain affordable with the council retaining its stake in the properties forever.

“These will be of huge interest to those people who want to live in Carmarthen, who dream of home ownership but cannot raise a large enough deposit to buy outright.”

Launched in March 2015, there are 114 properties at Cwrt y Llwyfen in total. So far 56 people have moved in and a further six properties have been reserved.

A large percentage of customers at Cwrt y Llwyfen have utilised the Government-backed Help to Buy – Wales scheme.

Under the initiative, the Government provides an equity loan of 20 per cent and the buyers produce a deposit of five per cent, leaving a 75 per cent mortgage.