Sunday, January 27, 2008
housing association scheme aims to revitalise run-down areas
A scheme offering buyers a 25 per cent discount on a Victorian terraced house almost sounds too good to be true.Anyone who cannot otherwise afford their own home is eligible for the scheme, called Own Place, which is currently operating in parts of the north west. The offer comes with strings attached, but they are conditions that the scheme's operator, the Riverside Housing Association, hopes will help to revitalise city streets blighted by boarded-up properties, buy-to-let landlords and short-term tenants. In return for the discount, worth tens of thousands of pounds, buyers must agree to live in the properties for at least five years, or else pay the 25 per cent discount back to Riverside.