Today Jim formally opened CHS Groups’s new development of affordable homes for shared ownership at Ox Meadow in Bottisham.

Shared ownership properties gives buyers the option of purchasing a share of a property and then paying a low-rate rent on the remaining share which is owned by the Housing Association. Buyers then have the option to buy further shares in their home and most end up eventually owning the property in full.

Jim has said, “There are understandable concerns about a shortage of affordable housing in our area and the difficulty that many face in attempting to buy a home – especially for the first time. I am therefore delighted to be able to open these new homes which I hope will provide excellent first homes for some of my constituents.”

The development is the result of a partnership between CHS Group, Cambridge and County Developments, East Cambridgeshire District Council and Bottisham Parish Council and was completed in July 2011.