What is Affordable Housing?
Affordable housing is housing to buy or rent for those on a moderate income. To make it more accessible, a range of opportunities are available within East Lothian. Affordable housing comes in a variety of tenures and is sold or rented out at less than market prices.
Types of Affordable Housing in East Lothian
In the rental market a small but expanding number of properties are available for mid-market rent. They are more expensive than council housing or Housing Association lets but cost less than similar-sized houses for private rent.
Housing to buy comes in various types:
- Shared equity - The government provides a proportion of the cost (usually up to 40%) and you repay the loan when the house is sold. This reduces monthly mortgage payments. Link Housing Association runs a shared equity scheme in this area, download Link Shared Equity Information.
- Shared ownership - Where the house is part owned by someone else, usually a Housing Association, and you pay a combination of rent and a mortgage. You can gradually buy out the Association's share of the property, when your financial situation allows.
- Discounted for sale housing is similar to shared equity but is operated by East Lothian Coumcil.
Please note that special conditions may be attached to the purchase or rental of these types of housing. Eligibility criteria for mid-market rent, for example, will be determined by your income level.
We are preparing a leaflet that will provide more information about all types of Affordable Housing, especially mid-market renting and Low Cost Home Ownership. In the meantime please contact your local area housing office or ring one of the housing developers/providers, whose contact details are given on the current opportunities flyer (see below).
The availability of Affordable Housing in East Lothian varies as new properties are built, or people leave existing housing.