East Midlands-based housebuilder Peveril Homes, recently welcomed Amber Valley MP Nigel Mills to its Smalley Manor development in Smalley, to take a tour of new social housing that forms part of an innovative national Rent to Buy scheme.
Government-backed Rent to Buy makes purchasing a new home more affordable by providing tenants with the opportunity to move into a new-build property for a reduced rent over five years – allowing time to save for a deposit and buy the home outright at the end of the rental period.
Peveril Homes has teamed up with local housing association, Futures Housing Group, to provide the scheme to residents at Smalley – with a percentage of homes at Smalley Manor allocated to social housing. But unlike many housebuilders, Peveril has used the same traditional building methods and quality materials on its social housing, that it uses across the rest of its new homes.
This ensures that all housing association homes maintain the same look-and-feel as the private housing on the site – making them consistent and well integrated into the wider development.
James Smith, Director at Peveril Homes said: “We are proud to be forging strong relationships with Futures Housing group and going against new-build stereotypes by providing social housing that homeowners can be proud.
“The scheme is making new homes more affordable for people by allowing them to save sufficient amounts per-month while renting, in order to put down the required deposit for a new home at the end of the five years.”
Nigel Mills MP, visited the site in January and was impressed with the social housing on offer during his visit, and sees the scheme as an important step in making housing more affordable.
Nigel said: “It is crucial that we support people trying to get onto the property ladder. Alongside Help to Buy, the government is making positive strides with the Rent to Buy initiative – and it is great to see Peveril Homes and Futures Housing putting quality first with its social housing projects.”
Dylan and Danielle moved into their new home at Smalley just before Christmas – with their first child born just weeks later. With a foot on the property ladder, the couple are already saving to buy their two-bedroom home after five years and looking forward to a bright future for their young family.
Dylan said: “We’re looking to save as much as we can, and we have a Help to Buy ISA to help us make the purchase at the end of the five years.
“Smalley Manor is the perfect location for us to grow as a family and we are in love with our new home. The quality is far superior to any other social housing we saw on the market and we already feel like we have been here a lifetime.”