Home Reach Developments In ‘Oxbridge’
Aside from their worldwide reputations as university cities, Oxford and Cambridge also sit at the heart of sought-after places to live, especially over the past year where people have been re-considering their life priorities.
While property process have risen, there are opportunities for people on a modest income to take a first step on the property ladder thanks to an initiative called Home Reach, a form of Shared Ownership where those who qualify can purchase a proportion of the value of the home and pay a subsidised rent on the rest. As their finances allow, they have the option of buying more of it and paying less rent, until they own 100% of it. This is a process known as staircasing.
The scheme is the idea of housing provider heylo, who are working with housebuilders across England to offer a real range of new build properties through Home Reach, with appeal to single buyers, couples and families according to what they need and are looking for.
The village of Shrivenham is about five miles from Faringdon and seven miles from Swindon, and at under 20-minutes’ drive from the M4 is well situated for people working in the Thames Valley. Townsend Place is a Bovis Homes development in a place which combines history, such as its Norman church, with useful amenities like a doctor’s surgery, as well as its own football club and a golf course just up the road. There are two-bedroom and three-bedroom properties for sale there through Home Reach, priced from £145,000 and £175,875 for a 50% share respectively (based on full market prices of £290,000 and £351,750 respectively).
Linden Gardens is in Brampton, a few miles north of Faringdon, and also offers two-bedroom and three-bedroom homes. While these also have thoroughly modern layout and specifications, the architecture is different, being very much inspired by the Cotswold vernacular. A 50% share is £125,000 (full market price £250,000) and £185,000 (full market price £370,000) respectively. There’s a nice choice of things to do and places to eat and drink, and for parents of youngsters, the village’s C of E primary school is rated ‘Good’ by Ofsted.
St Thomas Park
In Cambridgeshire, the well-served market town of Ramsey is where Home Reach can be found at St Thomas Park. The four-bedroom ‘Mylne’ is a perfect family home having a kitchen/dining room with French doors to the garden, a separate living room, downstairs WC, under-stair storage and family bathroom. Two of the bedrooms are doubles, two are singles, providing plenty of flexibility in what they are used for. Outside, this home has a car port. The price for the ‘Mylne’ is £154,998, based on 50% share (full market value £309,995). Ramsey is within easy reach of Huntingdon, Peterborough and the A1(M).
Northstowe is a new town growing just five miles north-west of Cambridge city centre and The Boulevards is a collection of two- and three-bedroom homes there. Using Home Reach, as little as 25% of a two-bedroom ‘Harcourt’ house type with kitchen/dining room and separate living room can be purchased for £72,500 (full market price £290,000). Northstowe will eventually be home to around 25,000 people benefitting from fibre optic connectivity, many public open spaces, new schools, commuter cycle paths and public transport services, and central facilities within walking distance.
Find out more about properties for sale through Home Reach.