Who are £100K Homes for?

There are huge numbers of working people in Cambridgeshire and Peterborough who would like to get on the property ladder but can’t afford to. £100K Homes are not for people who currently own residential property, whether they live in that property, or rent it out.

• Those who live or work in Cambridgeshire and Peterborough.
  £100k Homes is a locally-driven initiative to tackle the local housing crisis. As such, it is only open to those who live, work or have close family who live in the area.
• Those who will be able to afford the deposit and monthly payments. 
  This is as single person or a household of two people. Like any home purchase, £100K Homes will be subject to affordability checks.
• Those who feel trapped in rented accommodation and want to get on the property ladder.
  Many people in Cambridgeshire and Peterborough face little choice but to rent privately or be part of increasing numbers of adults still living at home with parents. But with private rents taking a large percentage of people’s earnings, it makes it harder for people to save for a deposit on a home. They then become stuck in their housing situation with hopes of affording a home reducing over time. £100K Homes are about making home ownership a realistic prospect for these people once again.
• People who may have explored other options like Help to Buy and Shared Ownership but still find these options unaffordable or unavailable in their area.
  £100K Homes offer 100% home ownership and so are very different to Shared Ownership. They will also be less expensive on a monthly basis than the vast majority of Shared Ownership homes.