Homeowners Make a Saving in Horsham

Posted 12 November 2019 by Helen Christie

Thanks to Shared Ownership, Tom and Jess have been able to purchase their first home in Horsham...

The ancillary costs to purchase a house in the UK now average at £8,885.66 (stamp duty, estate agents etc.), on top of the cost of the property itself, which is why most first-time buyers find themselves penny-pinching when buying their home.

For lettings director Tom, and his property manager girlfriend, Jessica, this was not the case, as the pair have found themselves £300 richer every month since becoming homeowners, thanks to Hyde New Homes. The couple purchased a 40% share of a two-bedroom house (full market value £345,000) through Shared Ownership at Bards Meadow, Horsham. This development is perfectly placed for London commuters - just 10 minutes from Horsham Station with regular direct train services to London Victoria in under one hour.

Jessica says: “Surprisingly, we’ve been able to save money since purchasing our house. We now have a disposable income which is something that wasn’t possible whilst renting.” Jessica says.

The couple moved into a rented home shortly after they got together four years ago and since then, they’ve struggled to save money to move out. 

Jess explains: “Ever since we started renting, we’ve made a conscious effort to try and save money to buy a place of our own. Since having our son, George, 10 months ago, we’ve been desperate to purchase our forever family home, which we’ve finally found and we’re so thankful for that! If it wasn’t for Shared Ownership, we would’ve been stuck raising our son in rented accommodation, which comes with huge costs and uncertainty.”

Tom and Jess didn’t stumble across the development by chance, Tom’s mother, a lawyer for Horsham council, deals with Shared Ownership in the area. She encouraged the pair to move to Horsham from their previous residence in Leatherhead, 30 minutes from their new home, due to its ideal location and price point. Since setting eyes on the development, the couple were blown away and were ready to move in immediately.

Jess continues: “It was absolutely love at first sight! We could instantly envisage ourselves living there. We put a reservation fee down just three days after purchasing. The fact that we bought the show home says it all, we knew this was the perfect place for our little family.”

Not only has Shared Ownership has provided Tom and Jess a sense of security for the future, but it’s also provided them access to a whole new way of life. Jess comments: “Everyone in the area is so welcoming and lovely. As there is a mix of houses and apartments, Bards Meadow accommodates a variety of residents, which is great. The whole place is so family-orientated and it feels so safe. Moving here was the best decision for us.”

“We did know the area rather well, having explored it prior to purchasing to ensure it would be right for us; there’s so much for us to do as a family from leisure groups to soft play areas.”

Jess and Tom were full of praise towards the Hyde New Homes team, as Jess concludes: “We’ve had such a great experience with Hyde New Homes. Everyone that we’ve dealt with has been so friendly and helpful. Throughout the whole process, everything has just been great and it’s been a pleasure working with them.”

The next launch at Bards Meadow, comprising contemporary two-bedroom bungalows will be in Spring 2020. 

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A Guide To Part Buy Part Rent
With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.

You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be.

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