There are so many good things about Hampshire, it’s no wonder that it is so popular with house-hunters, including those who want to get on the property ladder for the first time through Shared Ownership.
Britain’s sixth-largest county benefits from a whole range of places to live, from urban homes in numerous well-connected towns and cities to the rural peace of many villages in some outstanding countryside.
Shared Ownership in Hampshire is a great way to buy a property on a modest income. A proportion of the new home is purchased – initially, from 25% to 75% of the full market value (FMV) – and a subsidised rent paid on the remainder. It brings the benefits and security of homeownership but requires a lower deposit and mortgage than an equivalent open-market property.
We take a look at some of the brand new Shared Ownership homes for sale in Hampshire right now...
Yateley
Radian Homes is offering a two-bedroom apartment at its Forest Chase development on Moulsham Lane, in the north-west corner of Yateley. Plot 44, ‘The Eversley’, is on the ground floor. Off the hallway to one side is a handy storage cupboard, the second bedroom and a family bathroom. Straight ahead is bedroom one and at the rear is a large, open-plan kitchen/dining living room. This home is available from £101,500 for a 35% share (FMV £290,000) and comes with two allocated parking spaces. This development is under 10 minutes from the M3 and a number of railway stations.
Stuart Hensby, head of sales and marketing, Radian Homes, comments: “At a time when people are being furloughed or made redundant and money is even tighter than usual, affordable housing products like Shared Ownership are going to be more vital than ever in helping aspiring homeowners onto the ladder. As a lot of our homes are sold off-plan, we’ve been able to continue helping buyers find their dream home, taking reservations and guiding them through the purchase process – anything which doesn’t involve direct contact.”
Aldershot
Home Reach has partnered with Barratt Homes to offer homes on its own part buy-part rent scheme at Bruneval Gardens in the north of Aldershot which is with a few minutes’ drive of the well-connected station and major roads such as the M3 and A31. 50% of a two-bedroom coach house here can be purchased for £150,000 (FMV £300,000), which would require a deposit of £7,500. Set on the first floor, above garages, this home has two double bedrooms (with an en suite to the master) as well as a family bathroom and open-plan kitchen/dining/living room.
Director of sales Mel Toomey told us last week that lockdown hasn’t put people off searching: “One thing we have found is that all these changes have increased house-hunters’ interest in part-by-part rent. They might have been relying on Help to Buy, which requires a 5% deposit and a 75% mortgage, all based on the full price. With our scheme, they require a deposit and mortgage only based on the percentage they are purchasing. This means that our scheme is available to people on a far more modest income.”
Whitchurch
Whitchurch is within easy reach of the city of Winchester and towns such as Andover and Newbury, and is on the edge of the North Wessex Downs. WhatHouse? Housing Association of the Year 2019 VIVID’s Mulberry Gardens is actually located within this Area of Outstanding Natural Beauty and there’s currently a three-bedroom house for sale on Plot 38, which has plenty of off-street parking and a private garden. This home can be purchased from £85,000 for a 25% share (FMV) £340,000.
Liz Benson, head of sales: “We get excited at VIVID (www.vividhomes.co.uk) when we can offer homes in such beautiful locations as Whitchurch. Perfect country retreat living, but with good access to major towns and roads. It’s great to see the look on customers faces when they realise they can actually afford to purchase their dream home.”
Ringwood
Aster Group has a few houses still available at Beaumont Park, in the market town of Ringwood, on the western fringe of the much-loved New Forest. In addition to some terraced houses is the last semi-detached home, on Plot 164. Off the hallway is the living room, and its through here to the kitchen/dining room, off which is a useful additional storage cupboard and the downstairs WC. There’s also a door to the rear garden. Upstairs are the two double bedrooms and the family bathroom. This house has two parking spaces of its own. A 40% share of this house is £122,000 (FMV £305,000).
Amy Nettleton, assistant development director, sales and marketing at Aster Group (www.aster.co.uk), says: “The area isn’t just restricted to those who can afford to buy a home outright, the Shared Ownership market here is growing, with many locations in the area offering a variety of new build properties. Aster currently manages almost 600 Shared Ownership properties in Hampshire. Whether it’s a family, professionals or individuals looking to part-own, part-rent their home, Shared Ownership could be the solution for those seeking out a home in the region.”
Southampton
In the Woolston district of the city in the suburb of Woolston is Arcadia, Centenary Quay. Here, in this major regeneration area, Sovereign Living is offering a one-bedroom apartment with an open-plan living room/kitchen and its own parking space. This can be purchased for an initial price of £58,000 for a 40% share (FMV £145,000). Just a stone’s throw from the waterfront, this home is within ten minutes of Woolston station, and it takes about as long to cycle to the city centre.
The Shared Ownership market for Sovereign Living (www.sovereignliving.org.uk) remains really strong, says sales and marketing director, Lisa Moran: “We’ve seen more sales in April than earlier in the year and that shows the continued need for affordable homes and, most importantly, confidence in the market place. All our shared owners know they can buy from us with peace of mind and we’ve put additional measures into our contracts to offer extra assurance to people during these troubled times. And, while our sites aren’t open for viewings and in person meetings, we are open for business and can provide all the information our customers need to make their decision about buying a Shared Ownership home – with dedicated individual support every step of the way.”
Fair Oak
Fair Oak is a large village which is in easy reach of Eastleigh, Winchester and Southampton, and it’s where Home Reach is selling a two-bedroom at Linden Homes’ Limewood Grange development through its part buy-part rent scheme. Set in an attractive building with brick/weatherboard architecture, both bedrooms are doubles, so there’s plenty of space, and there’s also a flexible, open-plan, dual-aspect kitchen/dining living room with Juliet balcony. A deposit of just £5,875 is needed for a 50% shared at £117,500 (FMV £235,000).
Find affordable homes developments in Hampshire