First-time buyer and Shared Ownership weekend at Heyford Park 

Posted 19 May 2016 by Helen Christie

With mortgage rates at historically low levels and a range of schemes available to help homebuyers get on the housing ladder, there has never been a better time to buy your first home...

Heyford Regeneration and Dorchester Living, the developer behind the regeneration of the former US airbase at Upper Heyford, are holding a first-time buyer and Shared Ownership weekend on Saturday 21 and Sunday 22 May to advise and guide potential homebuyers on how to purchase their first home.

Representatives from Dorchester Living and Heyford Regeneration will be on hand to show people a range of properties available to purchase outright or through the Shared Ownership scheme, and a financial adviser will be present to provide free financial advice.

At Heyford Park, ‘The Square’ offers first-time buyers stylish and modern new homes which have been thoughtfully designed and beautifully crafted throughout.

For those looking to purchase a new home through the Shared Ownership scheme, ‘The Aves’ house type is available to purchase now. This two-storey house offers a living/dining room, a modern kitchen and a cloakroom on the ground floor. On the first floor, there are two well-appointed bedrooms and a classic-style bathroom. Prices start from £255,000 - with a 50% share at £127,500 with a monthly rent of £292.

Shared Ownership is a way for homebuyers to purchase a proportion of their chosen home even if they cannot afford a mortgage on the full purchase cost of the home. You can purchase a share of your home, which can be anywhere between 50-75%, and then pay rent on the remaining share.

To be eligible for Shared Ownership at Heyford Park you have to meet certain criteria set by the government. You can buy a home through Shared Ownership if any of the following are applicable: your household income is below £60,000 a year, you’re a first-time buyer, you are not a current homeowner or if you rent a council or housing association property.

You will need to raise a mortgage for the share of your home and will also need to pay a deposit at a minimum of 5% of the value of the share that you are wishing to purchase. There will also be legal fees and stamp duty to consider.

For those looking to purchase a home outright or through the Help to Buy scheme, there are a range of two- and three-bedroom homes that are ideal for first-time buyers. These are: 

The Bretton 

A two-bedroom home that has been designed for contemporary living, with an open-plan living room and dining room featuring patio doors leading to the rear garden.

Prices from £267,995

The Lockwood

Designed for open-plan living, this three-bedroom home comprises a fitted kitchen, and patio doors leading to the rear garden.

Prices from £294,995

The Hatfield

A three-bedroom house that combines a modern day open-plan kitchen and dining room with the traditional comfort of a separate, spacious living room. The dining room features patio doors to the rear garden, whilst the master bedroom benefits from its own en suite.

Prices from £297,995

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