Getting it together

Mar 18 2008 by Sue Scott, Evening Gazette

DEMAND FOR shared ownership housing schemes, which were given a Budget boost with the announcement of Government-backed loans, is growing in Teesside.

Doug Ross, who steps up from finance director to managing director of Tees Valley Housing (TVH) on April 1, said that just 10% of TVH’s 4,000 homes were in shared ownership, but it was becoming an increasingly attractive option for many struggling to get on to the housing ladder.

Alistair Darling’s extra help for key workers, such as nurses and teachers, was weighted towards the south of England, he said, where it was harder for public sector staff to afford their own homes.

TVH aims to add around 200 homes a year to its housing stock and while the Budget would not have a huge impact on its business, the general economic climate would, said Mr Ross.

“Whenever the housing for sale market has a problem, there tends to be more demand for rented properties.”

He welcomed news that the Government was to take a new look at fixed rate, long-term mortgages.

“For those on limited incomes, certainty of payment is a real advantage,” he said.

Earlier his month, Tees Valley Housing announced that it was to join forces with neighbouring housing association Erimus, under a new parent company, the Fabrick Housing Group. It will oversee the business of the Middlesbrough-based landlords when they form a new group structure in April.