Shared Ownership Homes In The East of England

Posted 2 July 2020 by Keith Osborne

We take a look at some of the brand new Shared Ownership homes for sale around the East of England right now...

The East of England offers the option of urban and rural life, as well as hundreds of miles of coastline. It combines this with great accessibility to London and other conurbations, which means that as people increasingly consider moving out of cities, they can still find places that offer a convenient commute and play connections.

The latest figures from the Office for National Statistics show that the region is the third most expensive property region in England/Wales, based on the ratio of average prices to average earnings, so affordable housing is of particular interest here.

Shared Ownership (also referred to as part buy-part rent) is a brilliant way for people on a modest income to get a first step on the property ladder. The buyer starts by purchasing 25% to 75% of the full market value (FMV) of a home and paying subsidised rent on the remainder. Over time, they can purchase a greater share of the property (a process known as staircasing), up to 100%. The scheme brings the benefits and security of homeownership while requiring a much lower deposit than an equivalent open-market property, and the combined monthly mortgage/rent payment can be much lower than buying or renting outright.

We take a look at some of the Shared Ownership homes for sale in the East of England right now:

 

Alconbury Weald, Cambridgeshire

Alconbury WealdThere are thousands of homes coming to a brand new community underway on a former military site near Huntingdon, with several housebuilders delivering homes in a range of sizes, designs and budgets. In partnership with heylo, Crest Nicholson is offering some of its properties on the Home Reach part buy-part rent. Prices currently start at £89,975 for a 50% share (FMV £179,950) of a range of one- and two-bedroom, open-plan apartments at Wellington House. Find out more about Alconbury Weald from Crest Nicholson.

 

The Ridings, Norton Heath, Essex

The RidingsIn a rural setting within easy reach of Chipping Ongar, Ingatestone and Chelmsford, the last home is available here from Moat Homes, a three-bedroom house costing £130,500 for a 30% share (FMV £435,000). There’s a fully fitted kitchen and bathroom, flooring included throughout, garden with patio and turf and two private parking spaces. Applicants must have lived and/or worked in the Epping Forest district for a minimum of five years, with priority given to people who live in the district. Find out more at www.moathomes.co.uk.

 

Orbit at Willowbrook, Bramford, Suffolk

Orbit at WillowbrookThere is just one home remaining for sale at this development on the north-western fringe of Ipswich, surrounded by beautiful Suffolk countryside and rolling hills yet only a short drive to the A14 with links to Bury St Edmunds and beyond. Plot 63, ‘The Jasmine’, is a mid-terrace two-double-bedroom house which is priced £91,000 for a 40% share (FMV £227,500), having open-plan living room/diner, separate kitchen with integrated Hotpoint appliances, a south-facing garden and two allocated parking spaces. Find out more at www.orbithomes.org.uk.

 

Park Mead, Bushey, Hertfordshire

Park MeadThere are current a number of apartments for sale here. Prices start at £130,000 for a 50% share of a one-bedroom home (FMV £260,000) to £185,000 for a 50% share of a two-bedroom unit (FMV £370,000). Bushey is a sought-after place to live which retains a ‘village’ atmosphere while being very well connected via its own railway station and numerous nearby Tube stations. The M1 and M25 are close at hand. There’s excellent shopping here, as well as a great range of leisure facilities and some top-rate state and private schools. Find out more at www.domovohomes.co.uk.

 

Meadow Croft, Houghton Conquest, Bedfordshire

Meadow CroftThis development is a few miles south of Bedford and provides a mixture of two- and three-bedroom houses, all featuring private gardens and two allocated parking spaces. Prices start at £115,000 for a 40% share of a three-bedroom mid-terrace homes (FMV £287,500), rising to £132,000 for a 40% share of a three-bedroom detached house (FMV £330,000). Find out more at stonewaterhomes.co.uk.

 

Wensum Place, Fakenham, Norfolk

Wensum PlaceClarion Housing Group is building a selection of two-, three- and four-bedroom homes situated in the historic town of Fakenham, around half-an-hour from Norwich, King’s Lynn and Cromer. There’s a great range of homes available, ranging in price from £48,000 for a 30% share of a two-bedroom apartment (FMV £160,000) to £98,000 for a 35% share of a three-bedroom house (FMV £280,000). Our favourite is ‘The Swanton’, a spacious two-bedroom semi-detached house with living room, en suite master bedroom, private garden and two parking spaces. This is £84,000 for a 40% share (FMV £210,000). Find out more at www.myclarionhousing.com.

 

Wolf Square, Peterborough, Cambridgeshire

Wolf SquareThere’s a great three-bedroom starter home here, ‘The Hazel’, which has a fitted kitchen with neutral worktops, styling bathroom, carpets and wood-effect flooring throughout, two parking spaces and a fully enclosed, turfed rear garden. It’s priced at £80,000 for a 40% share (FMV £200,000). This development of 200 homes is located approximately two miles from the city centre, with easy access to major transport links. There are a number of nearby amenities, including a medical centre, recreation ground, Ofsted ‘Good’ schooling, supermarket and retail park. Find out more at www.crosskeyshomes.co.uk.

 

Finches Park, Kirby Cross, Essex

Finches ParkLinden Homes is selling a range of three- and four-bedroom homes here with the Home Reach part buy-part rent scheme. Prices start at £117,000 for a 50% share (FMV £234,000). Finches Park is a development on the outskirts of Frinton-on-Sea. Kirby Cross has its own railway station and is only a five-minute drive from the town centre and beach. It’s well under an hour from towns and cities such as Ipswich, Bury St Edmunds and Chelmsford. Find out more about Finches Park from Linden Homes.

 

Milliners Place, Luton, Bedfordshire

Milliners PlaceThis is a collection of one- and two-bedroom apartments within easy reach of the town centre and two stations on the Thameslink line into Bedford and central London. The M1 and A6 are also close. Shares can start at 25%, with a one-bedroom home from £41,875 (FMV £167,500) and a two-bed from £48,750 (FMV £195,000). www.paradigmliving.co.uk.

 

Crown Place, Fenstanton, Cambridgeshire

Crown PlaceSituated in a town between Cambridge and Huntingdon, this is a diverse development of one- to five-bedroom homes is a range of styles. Currently available are Plot 74, a two-bedroom house where a 40% share can be purchased for £104,000 (FMV £260,000) and Plot 73, which has two double bedrooms and a single bedroom, priced £130,000 for a 40% share. (FMV £325,000). Both homes have a private garden and off-road parking. Find out more at www.sagehousing.co.uk.


Find affordable homes developments in the East of England
 

Boundary Court at Cricket Field Grove
26 November 2020
Barratt Homes is offering the Home Reach scheme at a development in Crowthorne to help first-time buyers...Read more
Today's New Homes
L&Q at Brook View
10 November 2020
We tell you about current and up-and-coming new homes for sale in the Bedfordshire new town of Wixams...Read more
Today's New Homes
9 November 2020
Buyers on a £200,000 budget can find an excellent array of new homes to consider across Somerset...Read more
Today's New Homes
Peckham Place (Notting Hill Genesis)
9 September 2020
Notting Hill Genesis' duplex properties at Peckham Place can be purchased on a part buy-part rent basis...Read more
Today's New Homes
Hazel Park, via David Lee
19 August 2020
Our favourite new home for sale is a two-bedroom terraced house at Hazel Park in Essex, on sale through David Lee…Read more
Today's New Homes
11 August 2020
There are currently some excellent options for purchasing a new build Shared Ownership home in London...Read more
Today's New Homes
Search  
A Guide To Part Buy Part Rent
Part Rent Part Buy is a scheme you can use with Home Reach where 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.

Click here to see your activities