AHP Developments Ltd

AHP Developments Ltd

June 2008

AHP Developments Ltd is a new company set up to help develop more affordable homes, including those for sale.

Chief Executive Colin Hawkins said the move will allow AHP to play a fuller role in addressing the acute housing shortages across the North-East.

"The new company will be a wholly owned subsidiary, known as AHP Developments Ltd, and will play an important part in building new affordable homes throughout the area."

"We are continuing to respond to the changing needs of people in Aberdeenshire and beyond and the new company is a significant step forward for us."

Among the first AHP properties available for sale will be 12 now being built in Marconi Road, Fraserburgh. They will be sold under the Homestake initiative, a shared equity scheme aimed at helping people on low incomes who want to buy a home but cannot afford the full price.

Homestake mainly helps first-time buyers, whose income is assessed to see whether they qualify. They also need to get quotes from three different mortgage lenders showing the maximum amount they can borrow. The registered social landlord - in this case AHP - then makes up the shortfall.

The scheme is also available to some homeowners who need to move. For example, a disabled person who owns a house which is no longer suitable for their needs could be helped to move to somewhere better equipped.

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