Find out about the range of home ownership products and affordable homes currently for sale within north Norfolk.

Affordable home ownership products

Affordable home ownership or Help to Buy are a couple of names used to describe a range of products which make it more affordable to buy a home.

Help to Buy Equity Loan

This is an equity loan of up to 20% of the value of a new home so you only need to have a 5% deposit to purchase, for further information visit the Help to Buy website.

Shared Ownership

Through shared ownership you only need to be able to afford to buy a share of the value of the property (of at least 25% but can be up to 75% of the value of the property) and you pay rent on the share that you did not buy.  All shared ownership properties are leasehold.  You can choose to increase how much of the value of the property you own by purchasing more shares in the property up to 100% but in the rural parts of North Norfolk you may not be able to own more than 80% of the value of the property. 

For more information on shared ownership see our What is shared ownership? page or the Help to Buy shared ownership webpage. If you are interested in Shared Ownership please register with the Help to Buy agent and also apply to join the Housing List to ensure you see details of all available properties.

Shared Ownership with no rent or ground rent

This is a slightly different type of shared ownership which is sometimes also called Shared Equity.  You will need to be able to afford to buy a larger share of the property but will not pay any rent on the share that you did not buy.  You will be able to increase the value of the share you own up to 100%.  The initial share sold can be as low as 60% or up to 85% of the value of the property.

Once 100% of the shares in Shared Ownership or Shared Equity properties are owned the property is a normal market dwelling.

If you purchase a Shared Ownership or Shared Equity dwelling there may be restrictions on who you can sell the property to if you want to sell.

There are other types of affordable home ownership products, for further information see the Help to Buy website.

Affordable Homes currently available

1 Bedroom Homes at Cromer on the Norfolk Homes Park View development

These new homes are now under construction and are available for sale on a Shared Ownership basis where there will be no requirement to pay rent or ground rent, however, please note that there will be a service charge which will include the cost of building insurance. 

  • Plot 58 - 1 bedroom first floor apartment with car port and parking space (house type Babbage ‘A’), 85% share being sold for £153,000.
  • Plot 67 - 1 bedroom first floor apartment with car port and parking space (house type Babbage), 85% share being sold for £161,500.
  • Plot 121 – 1 bedroom first floor apartment with parking space (house type Scott B) 85% share being sold for £157,500.

All homes are priorities for purchasers with local connections as set out below:

1.  For the first 6 weeks of marketing (which started on 22 May 2017 for plot 58, 5 October 2017 for plot 67 and starts on 22 May 2018 for plot 121) purchasers who have a local connection to Cromer.

  • Current residence of not less than 6 months OR
  • Current employment OR
  • An immediate family member (of parents, siblings or adult children who must be living in Cromer and have lived there for at least 12 months) OR
  • residence in Cromer of at least 12 consecutive months

AND have an annual household income of not more than £30,000 are eligible to purchase.

2.  For the following 6 weeks, purchasers who have a connection to the adjoining parishes of Cromer (Felbrigg, Northrepps, Overstrand, Roughton and Runton parishes) through:

  • Current residence of not less than 6 months OR
  • Current employment OR
  • An immediate family member (of parents, siblings or adult children who must be living in an adjoining parish to Cromer and have lived there for at least 12 months) OR
  • Previous residence in an adjoining parish to Cromer of at least 12 consecutive months

AND have an annual household income of not more than £40,000 are eligible to purchase.

3.  For the following 6 weeks, purchasers who have a connection to a parish in the North Norfolk District Council area through:

  • Current residence of not less than 6 months OR
  • Current employment OR
  • An immediate family member (of parents, siblings or adult children who must be living in a parish in the North Norfolk District Council area and have lived there for at least 12 months)  OR
  • Previous residence in a parish of the North Norfolk District Council area for at least 12 consecutive months

AND have an annual household income of not more than £50,000 are eligible to purchase.

4.  After 18 weeks from the commencement of marketing of the properties, any person who has a maximum household income of £60,000 is eligible to purchase.

Provided always that a person who meets a criteria which applied at an earlier stage in the marketing period always remains eligible for one of the dwellings even after the timescale which applied to that criteria has passed.

How to purchase

Anyone who is interested in purchasing one of the new properties should contact Sharon Sweeney, Sales Negotiator for the Park View development on 01263 586416 or by emailing parkview@norfolkhomes.co.uk.  Further information on the affordable homes available to purchase on the Park View development can be found on Norfolk Homes website

New Shared Ownership Homes

New affordable homes for sale on a shared ownership basis are in the process of being built in a number of locations across North Norfolk.  

Check this page regularly for details of properties which are for sale or due to be released for sale. New homes due to be completed in:

  • Holt
  • Fakenham
  • Mundesley
  • North Walsham
  • Sheringham
  • Stalham

Look out for details of new shared ownership homes at Binham, Edgefield and Erpingham (which will be prioritised for purchasers with local connections), please note these homes are expected to be completed within 18 to 36 months.

Now Available

1 x 2 Bedroom House and 1 x 3 Bedroom House at Trunch – completion expected June 2018

These new build homes will be marketed for sale on the Your Choice Your Home scheme during the week commencing 21 May, if you are interested in purchasing one of these homes, please ensure you bid for the properties.   The homes will be prioritised for purchasers who have a local connection through current or former residence, employment or an immediate family member’s residence in Trunch or the adjoining parishes of Gimingham, Knapton, Mundesley, Southrepps and Swafield.  The maximum share which can be bought is restricted to 80% of the value of the house.

The homes are also being marketed through the North Walsham branch of William H Brown who can provide more information.

The new homes are:

Plot 2 - 3 Fullers Lane, Trunch, NR28 0SP

  • Brand New 3 bedroom semi-detached house due for completion June 2018
  • Kitchen / diner with fitted kitchen and built in oven and hob
  • Lounge
  • Family bathroom with shower over bath
  • Downstairs WC
  • 2 parking spaces
  • Front and rear garden
  • Gas central heating
  • 40% share available to purchase for £94,000
  • Based on 40% share rent payable on remaining share of £323.13 per month
  • Service charge payable of approx. £16.50 per month to cover buildings insurance and communal grounds maintenance

Applicants must have either savings to purchase the minimum 40% share or have a minimum gross household income of £27,000 per annum and be able to obtain a mortgage.  Please note applicants will be subject to an affordability assessment prior to being approved to purchase the property.

Plot 5 - 9 Fullers Lane, Trunch, NR28 0SP

  • Brand New 2 bedroom end terrace house due for completion June 2018
  • Open plan Lounge / Kitchen / Diner with fitted kitchen and built in oven and hob
  • Family bathroom with shower over bath
  • Downstairs WC
  • 2 parking spaces
  • Front and rear garden
  • Gas central heating
  • 50% share available to purchase for £87,500
  • Based on 50% share rent payable on remaining share of £200.52 per month
  • Service charge payable of approx. £16.50 per month to cover buildings insurance and communal grounds maintenance

Applicants must have either savings to purchase the minimum 50% share or have a minimum gross household income of £25,000 per annum and be able to obtain a mortgage.  Please note applicants will be subject to an affordability assessment prior to being approved to purchase the property.