LOCAL housing provider Magna Housing is looking for land in West Somerset to build low rent and shared ownership houses.

The search is part of a plan to build 600 low-cost homes in the South West in the next five years – half for shared ownership and half charging social rent.

“We have the funding in place to do this project,” Magna’s property director David Aldwinckle told the Free Press.

“We are now very much in the market for suitable building sites, particularly in West Somerset where we have a particularly strong operation.

“This a long term project and the first two years will probably be spent negotiating for suitable land and building permission.

A Magna spokesman said that social rented homes would cost about £86 a week for a one-bedroomed property and about £106 per week for a three-bedroomed home.  

“Shared ownership properties let people buy as much of the house as they can afford while enjoying a low rent on the rest of it”, he said.

Tony Murray, Magna West Somerset Housing Association director, said: “We know there is a need for houses that people can afford to rent or buy. We will be setting our rents at the social rent level which are the lowest rents possible.

“By building shared ownership homes too, we are making a more affordable option available for anyone who wants to own their home.”

The new homes will also be built in Taunton Deane, Sedgemoor and South Somerset.