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Get Home Ownership Off To A Great Start In Longridge

Posted 25 October 2021 by Helen Christie

Prospect Homes has a solution to help Lancashire buyers get onto the property ladder...

Prospect Start is the housebuilders affordable and accessible scheme which gives first-time buyers the opportunity to purchase a new build home at 67% of its market value.

When buyers come to sell, the house is then sold at 67% of its open market value at the time so future buyers can also benefit from the scheme.

Sam Williams, head of sales at Prospect Homes, says: “Prospect Start gives buyers the chance to get out of the rental trap. There are no restrictions so buyers have peace of mind knowing the home is all theirs. No one else owns the 33% and you don’t pay rent on this share.”

There are two homes available under the scheme at The Ridings in Longridge, a development that has just won two regional and national housing awards, and buyers must meet the following criteria:

  • Buyers must be over the age of 18 years old and are in employment.
  • Either a first-time buyer or have accepted an offer on the sale of a current home
  • No more than £40,000 equity in another house
  • Joint household income of £45,000 or less
  • Can be a key worker employed in Preston or taking employment in the area
  • To be eligible for the three-bedroom homes, you must have at least one child

The two-bedroom semi-detached Arran is priced at £118,500 and has a kitchen and a separate lounge and dining with French doors into the garden plus a handy cloakroom. Upstairs there are two double bedrooms that share a family bathroom.

The three-bed Rutland has a kitchen and dining area, plus a separate lounge with double doors opening up into the garden. There is also a cloakroom. Upstairs the main bedroom comes with an ensuite, and the two further bedrooms share a bathroom. The Rutland is priced at £140,000. Both homes come with private driveways.

 

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