New affordable homes for local people launched in Duloe

Cornish community has exclusive offer to Aster Group homes

A rare opportunity to buy a new affordable home in the village of Duloe, has been made possible, thanks to housing association, Aster Group and Cornwall Community Land Trust (CLT). Proving popular to date, only three of the homes released so far are still available.

The homes on ‘Jubilee Close’ in Duloe, which South East Cornwall MP Sheryll Murray said were ‘vital’ during a visit last year, include a mixture of shared ownership and affordable-rent homes aimed at those struggling to buy or rent a home in the area.

Designed to deliver much needed affordable homes for Cornwall, this collection of properties has been delivered in partnership with Cornwall CLT. Through this project, the homes at Jubilee Close were initially released for people solely within the Duloe parish for an allocated time and have now been made available to neighbouring areas to ensure the properties meet a local housing need.

Ten of the 18 homes have been launched so far, and only three of the homes are now available on the first phase. The remaining homes include two and three bedroom detached and terraced houses each with their own garden, with pricing starting from just £180,000.

The homes however, which are available on shared ownership, enables buyers to secure a home at Jubilee Close with a 5 per cent deposit. They can then purchase a share (from 25 per cent to 75 per cent) of the home and pay Aster rent on the remaining value that they owe. Based on a 40 per cent share with shared ownership, it could bring the price of these homes down to as little as £72,000*.

The current economic climate also presents a great opportunity to have access to excellent mortgage rates in Cornwall. Kelly McCabe, managing director from mortgage provider, TMP explained, “With interest rates at an historic low, both shorter and longer-term fixed mortgages are offering fantastically affordable rates. Couple this with the flexibility of shared ownership, the options to buyers are as flexible and affordable as they have ever been.

"With banks and building societies being so keen to lend, not only are rates attractive, but also their willingness to understand customers’ complex situations. Zero hours contracts, benefit income and low deposits are all things that don’t stop the dream of homeownership becoming a reality.”

Amy Nettleton, assistant development director – sales and marketing at Aster Group, stressed that Jubilee Close is suitable for all types of buyers, “There’s a lot of confusion out there about affordable homes, and shared ownership. We have specifically built these beautiful, spacious homes set in the idyllic Cornish countryside, to help unlock home ownership for those struggling to get on the ladder in the area. The homes at Jubilee Close are really varied too, so there’s something to suit all needs and stages of life. So, it’s not just about first-time buyers, but those later in life too, looking for a move to a brand-new home with minimum upkeep.”

As well as offering the tranquillity of Cornish village life, Duloe is just over four miles from the coastal town of Looe and four miles from Liskeard. A selection of retail outlets and other amenities are only fifteen minutes’ drive away, while the local primary school is just a ten-minute drive. There’s a community store and village hall at the end of the road and The Plough, an award-winning Cornish Inn serving the finest seasonal produce is within walking distance of the brand-new homes.

Once completed, the development which is leased on a site from landowners, the Duchy of Cornwall, will comprise of 10 shared ownership homes and eight for affordable rent. This forms part of Aster’s £2bn seven-year investment plan which will see over 10,700 homes built across the south of England.

For more information visit our sales website or call the team on 01749 832 114.

* Pricing correct at time of print; based on buyers securing a home with a 40% share of the property, priced against properties starting from

£180,000