Larkfleet Homes starts work on affordable housing developments in Donington and Pinchbeck
Larkfleet Homes has started work on new developments in Donington and Pinchbeck. They are both part of the Kickstart funding initiative - which allows stalled housing developments to move forward - that will provide much needed affordable housing in the area.
The Flinders Fields development - located on Town Dam Lane in Donington - will provide 31 affordable homes for local people. The Glen Grange development located on Pennytoft Lane in Pinchbeck will provide 33 affordable homes.
The national housing and regeneration body, the Homes and Communities Agency (HCA), has invested £3 million Kickstart funding to support these projects.
Of the properties to be built at Town Dam Lane, seven will be offered through HomeBuy Direct, six for shared ownership with Peterborough based housing association Cross Keys Homes and the remaining properties will be available for affordable rent also with Cross Keys Homes.
Of the 33 properties to be built at Pinchbeck, ten will be offered through HomeBuy Direct and the remaining properties will be available at affordable rent and through shared ownership from Longhurst & Havelok Homes Ltd.
The HomeBuy Direct Scheme provides equity loans to help first time buyers purchase selected Larkfleet Homes properties. Buyers can take out a mortgage to cover at least 70 per cent of the purchase price and this is topped up with an equity loan covering up to 30 per cent of the price.
Cross Keys Homes' shared ownership scheme allows first time buyers to purchase a home in stages making it more affordable than purchasing a home outright on the open market. Buyers can purchase as little as 25 per cent of the property and pay a subsidised rent on the remaining share.
All properties on the site will be built to the Code for Sustainable Homes level 3 - highlighting Larkfleet Homes' commitment to creating affordable, well-built and energy-efficient homes.
The two developments will not only allow new homebuyers a chance to get a foot on the property ladder but will also provide local jobs as Larkfleet will utilise local labour and product supply chains.
Karl Hick, managing director of Larkfleet Homes, said: "These two developments in Lincolnshire will meet the need for affordable housing in the local area. The properties on these developments are not only affordable; they are also of very high quality as well as being energy efficient."
Kitt McGrath, area manager for the HCA, said: "The aim of Kickstart was to support the construction sector in the wake of the housing market decline and get more market sale and affordable homes built, so we are pleased to see these schemes progressing."
Larkfleet Homes has secured another site under the Kickstart funding initiative, The Coppice in Deeping St James.
Kickstart funding allocated by the HCA allows developments that have been 'stalled' due to uncertainties in market conditions to proceed and move forward. The three Larkfleet schemes are high quality and cost effective, allowing the delivery of much needed affordable homes without having to compromise on size and standards.
The Flinders Fields development - located on Town Dam Lane in Donington - will provide 31 affordable homes for local people. The Glen Grange development located on Pennytoft Lane in Pinchbeck will provide 33 affordable homes.
The national housing and regeneration body, the Homes and Communities Agency (HCA), has invested £3 million Kickstart funding to support these projects.
Of the properties to be built at Town Dam Lane, seven will be offered through HomeBuy Direct, six for shared ownership with Peterborough based housing association Cross Keys Homes and the remaining properties will be available for affordable rent also with Cross Keys Homes.
Of the 33 properties to be built at Pinchbeck, ten will be offered through HomeBuy Direct and the remaining properties will be available at affordable rent and through shared ownership from Longhurst & Havelok Homes Ltd.
The HomeBuy Direct Scheme provides equity loans to help first time buyers purchase selected Larkfleet Homes properties. Buyers can take out a mortgage to cover at least 70 per cent of the purchase price and this is topped up with an equity loan covering up to 30 per cent of the price.
Cross Keys Homes' shared ownership scheme allows first time buyers to purchase a home in stages making it more affordable than purchasing a home outright on the open market. Buyers can purchase as little as 25 per cent of the property and pay a subsidised rent on the remaining share.
All properties on the site will be built to the Code for Sustainable Homes level 3 - highlighting Larkfleet Homes' commitment to creating affordable, well-built and energy-efficient homes.
The two developments will not only allow new homebuyers a chance to get a foot on the property ladder but will also provide local jobs as Larkfleet will utilise local labour and product supply chains.
Karl Hick, managing director of Larkfleet Homes, said: "These two developments in Lincolnshire will meet the need for affordable housing in the local area. The properties on these developments are not only affordable; they are also of very high quality as well as being energy efficient."
Kitt McGrath, area manager for the HCA, said: "The aim of Kickstart was to support the construction sector in the wake of the housing market decline and get more market sale and affordable homes built, so we are pleased to see these schemes progressing."
Larkfleet Homes has secured another site under the Kickstart funding initiative, The Coppice in Deeping St James.
Kickstart funding allocated by the HCA allows developments that have been 'stalled' due to uncertainties in market conditions to proceed and move forward. The three Larkfleet schemes are high quality and cost effective, allowing the delivery of much needed affordable homes without having to compromise on size and standards.
