The Evolution Collection: Explained

The Evolution Collection is a collection of two bedroom apartments and two bedroom homes at Elsey Croft in Skipton, North Yorkshire. Hear the word discounted and it might seem like a lot of paperwork and hoops to jump through but in reality it’s not much different to purchasing any home from us. In today’s article we hope to explain the scheme to you so that you can benefit.

What is the Evolution Collection?

It is a collection of homes we are building in partnership with Craven District Council to offer homes for hard working people in Skipton. It features a range of two bedroom apartments and one end terraced two bedroom home, all at a reduced market rate. Our two bedroom house has now been reserved, but we have six apartments available, which will be ready to view mid-March.

How does it work?

We price each home at a significant discount. This price is agreed with Craven District Council so that it fits their affordable homes criteria. It is not a shared ownership scheme; you own 100% of your home and there is no rent to pay. The only difference with these homes to a market property is that when you come to sell, a sum equivalent to the same percentage discount you obtained when you first bought the property will be factored into your sale going forward.

What happens when you sell?

Before you market your home you will need to first agree with Craven District Council a minimum selling price (Don’t worry they won’t be tricky about this, they just want to know you won’t sell your home for less than it is worth!). Once marketed and a purchaser found, on completion  you will need to pay Craven District Council a sum equivalent to the percentage discount you received. This percentage will be determined at the time you buy your property from us.

An example:

You bought the two bedroom discounted house at the listed price of £125,000. The valuation at the time of purchase was £220,000. This gives a percentage discount of 43%.  You have an interested purchaser who has agreed to buy your home for £235,000. This would mean that you would pay the council £101,050 and make £8,950 in capital growth.

Do you still benefit from capital growth?

Yes you do. If the sale price rises above the original valuation when you bought the property, you will reap the rewards.  The indicative calculations above show how this potentially could work.

What mortgages are available to you?

We are working with the independent mortgage advisory, The Mortgage Advice Bureau, to help you get the best mortgage for these homes. In order to access the wide range of products from various banks you will need to apply for your mortgage through this route. The Mortgage Advice Bureau will also assess your suitability for the scheme with the council.

How do you qualify?

There are a few criteria that we must satisfy in order to sell you a discounted home at Elsey Croft, Skipton. Firstly, you must be able to show you have a local connection, either by family ties or work. Secondly, you must not earn more or have savings more than £60,000. Thirdly, it must be your primary residence and you must be a first time buyer. Lastly you need to show why you need a property of this size and show that you wouldn’t be able to afford a property of this size at the full market rate.


We have just six two bedroom apartments and one two bedroom home available. View more details here.

Like to speak to us? Contact Pam on 01756 630517 or by emailing [email protected]. If you’d like to arrange a chat in person you can make appointments Thursday – Monday 10am – 5pm.

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*Skipton Properties reserves the right to withdraw this offer at any time for unreserved homes.