Affordable New Homes Launching Off-Plan In Redhill

Posted 15 September 2020 by Keith Osborne

15 new affordable homes available through Shared Ownership are being launched off-plan at SO Resi Redhill this weekend...

SO Resi, the dedicated Shared Ownership brand of leading housing association Metropolitan Thames Valley Housing, has revealed that a brand new development in Redhill will provide 15 affordable homes for local buyers.

The housing association has partnered with housebuilder Crest Nicholson to deliver the contemporary one- and two-bedroom apartments on Marketfield Way. The brand new apartments will be available through Shared Ownership, meaning that buyers are able to purchase a minimum share of 40%, with just a 5% deposit required. Buyers will then have the option to gradually increase their share in the future through a process known as staircasing.

Kush Rawal, director of residential investment at Metropolitan Thames Valley Housing, commented: “We passionately believe in the power of Shared Ownership as a key part of the affordable housing mix, and are pleased to be launching our brand new Redhill development off-plan. We are committed to delivering quality homes to buyers at an accessible cost, and anticipate this development to be popular with young professionals thanks to its close proximity to the train station.”

All of the apartments available with SO Resi are designed to a high specification, with features such as wood flooring in lounges and carpets in bedrooms, fitted kitchens including oven, fridge/freezer, dishwasher and washer dryer, and fitted bathroom with an electric towel radiator. Living space is extended, with selected apartments benefitting from a private balcony, offering views across Redhill and the surrounding countryside.

Residents can also enjoy luxurious lobby spaces and fast lifts – and for added security and peace of mind, there is a video/audio entry system to the building. There is also on-site parking available and secure cycle storage options.

SO Resi Redhill is just moments from Redhill train station, with fast trains connecting residents to London Bridge in around 30 minutes, whilst London King’s Cross and Bank are 50 and 60 minutes respectively. For travel further afield, Gatwick Airport is a quick 13 minute train journey away. There are also a number of local bus routes for residents to explore the surrounding area – and nearby Reigate is a cycle ride away.

Currently available at SO Resi Redhill is a collection of one- and two-bedroom apartments, with prices starting from £99,000 for a 40% share in a one-bedroom apartment (based on a full market value of £247,500).

Find out more at www.soresi.co.uk.

 

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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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