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Improved housing and affordable ownership for all

Written by Ipswich Building Society

4 Apr 2018

Tags

Archive, Heritage, History, Ipswich

2 min read

 

Better Quality Housing

In 1866 the Society began building affordable houses, attractive homes and sound investments. On the first new estate, two roads – Palmerstone Road and Lancaster Road – were laid out with 28 houses built and sold by ballot for £145 each. Each cottage had a sizeable garden.

Notably in October 1902 the Society balloted houses with inside bathrooms, an uncommon occurrence indicating the commitment to high standard housing. An excerpt from the ballot notice for 7 houses called Henslow Terrace, Henslow Road, Ipswich comments:

“Accommodation comprises: Entrance Hall, Front Parlour with Bay, Back Sitting Room with French Casement, both rooms fitted with tiled hearths, registers and enamelled slate and marble mantel. Kitchen, Scullery, Larder & Outhouses, 3 bedrooms and Bathroom fitted with bath. Venetian Blinds fitted to front windows.”

Home Ownership at Affordable Rates

In 1902 the Society balloted 7 houses, called Lyttleton Terrace at Gatacre Road, Ipswich and was keen to educate members on the affordability of house ownership, with the ballot notice stating “As the other houses in Gatacre Road are letting at 6s per week, the reduced scale of repayments will only mean an additional 2d per week to purchase each house”.

Houses were offered at £225, with ordinary repayments enabling the house to be fully owned and mortgage free after 12 years, or reduced payments offered for the amount to be repaid over a longer period.

 

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – find out more.

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