Eden Council offers affordable housing cash boost
A council in Cumbria has given the go-ahead to a £1m fund to ease the housing situation for low-paid workers.
Eden District Council said an average home in the area cost £191,000, which was more than 11 times the average income of £17,000.
Housing associations, the main supplier of affordable housing, were unable to meet the increasing need.
These organisations will be invited to bid for a share of the funding, offered as a low rate loan over 25 years.
The associations will use the fund to deliver affordable housing in the area.
Councillor Lesley Grisedale, the council's housing portfolio holder, said: "We recognise that lower paid workers in Eden, who don't qualify for social housing, also cannot afford the deposit for a mortgage.
"This means a big demand for two to three-bedroom private rented accommodation.
"With our partners who make up the Eden Local Housing Advisory Board, we have looked at the wider context for affordable housing to find an alternative solution."