The South West of England is a region with a great deal to offer, from busy cities and thriving town to some of the country’s most admires countryside and coastline. There’s appeal to a whole range of house-hunters, including those who want to get on the property ladder for the first time through Shared Ownership.
Shared Ownership is a brilliant way to buy a property on a modest income. Initially, a proportion of the new home is purchased, 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 while requiring a lower deposit and mortgage than an equivalent open-market property.
We take a look at some of the Shared Ownership (sometimes known as part buy-part rent) homes for sale in the South West right now:
The Chasse, Topsham, Devon
There are four apartments available here, with prices starting from £68,750 for a 25% share (FMV £275,000) of a two-bedroom apartment, with the ground floor having a terrace and first-floor homes having a Juliet balcony. Each has an open-plan kitchen/dining/living room, plenty of storage and built-in wardrobes to the master bedroom. Topsham is on the River Exe, just south of Exeter and within easy reach of the likes of Honiton and Newton Abbot, as well as beautiful coast and countryside.
Kim Forbes, senior sales consultant for LiveWest (www.livewest.co.uk), said: “These delightful apartments have a lot to offer from their sought-after location and accommodation including open-plan living space, fitted kitchens with appliances and carpets throughout, they are ready to move in to and would be a great place to call home.”
Bishops Place, Paignton, Devon
Harrington Homes is working with heylo to offer the Home Reach part buy-part rent scheme on properties at its Bishops Place development just a 15-minute stroll from the town centre, station and a lovely beach. Each of the one- and two-bedrooms apartment has an open-plan layout, and fitted kitchens and bathrooms. These homes start from £30,499 for a 25% (FMV £121,995), equating to an estimated monthly payment of £399. Find out more about Bishops Place from Harrington Homes.
Durleigh Gardens, Bridgewater, Somerset
This development is located just minutes out of market town Bridgewater town centre, offering a the benefits of rural and town living. There’s currently a range of homes available with an initial 40% share. These include a one-bedroom coach house at £70,000 (FMV £175,000) and three-bedroom mid-terrace houses at £84,000 (FMV £210,000), so there are options to suit a range of requirements and budgets. For reservations before 31 August, there’s a choice of £1,000 special offers to choose from such as white-goods or furniture vouchers, removal costs or legal costs. Find out more at www.aster.co.uk.
Vista, Poole, Dorset
Platinum Skies specialises in properties across the South West for people over 55, and offers many of its homes on a special Shared Ownership scheme for that age group. Vista is one of its premium developments right now, located in one of the most sought-after districts around Poole Harbour and offering some spectacular views of it. Prices start at £150,000 (FMV £300,000) for a one-bedroom, ground-floor property, and range through to penthouses that would be priced well over £1million on the open market. All residents have secure underground parking, private outdoor space and access to landscaped gardens. Find out more at platinumskies.co.uk.
Oaklands, Hardwicke, Gloucestershire
Sovereign Living’s development is in a village south of Gloucester and close to the border of the Cotswolds, and with a choice of three- and four-bedroom homes right now, it is perfect for growing families. The properties feature open-plan living, a private garden and off-road parking. Three-bedroom houses start at £104,000 for a 40% share (FMV £260,000), four-bedroom properties from £146,800 (40% of £367,000. If you reserve before 30 June 2020, there’s a £500 cashback upon completion. Find out more at www.sovereignliving.org.uk.
The Waterfront, Gloucester
Buyers can start with a 30% share of this collection of new apartments in a contemporary design at Gloucester Quays, an area of regeneration next to the striking historic docks. There are one- and two-bedroom options, each coming with an allocated parking space. These properties come with a fitted kitchen including washing machine, Juliet balconies, carpet and flooring provided and there’s an en suite to master bedroom on two-bedroom apartments. Examples of those available are a one-bedroom home at £48,000 (FMV £160,000, with rent of £256.67 and a service charge of £125.14) and two-bedroom unit at £63,000 (FMV £210,000, with rent of £336.88 and a service charge of £132.17. Find out more at www.guinnesshomes.co.uk.
Russell Place, Stourpaine, Dorset
Just north of Blandford Forum, Stourpaine is in village in the heart of the two Areas of Outstanding Natural Beauty in Dorset and Cranborne Chase. There are just two four-bedroom family houses available, each with kitchen/dining room, living room, ground floor shower room, en suite to master bedroom, garden and garage. Buyers start with a 40% share: on Plot 1, this is £136,000 (FMV £340,000) and on Plot 2, £134,000 (FMV £335,000). Find out more at stonewaterhomes.co.uk.
Fair Close, Mitchell, Cornwall
Around 14 miles north-east of Redruth and conveniently close to the A30 trunk road through the county, Fair Close has home in natural materials such as stone cladding and slate roofs and with a specification which includes Shaker-style kitchens with integrated oven, hob and extractor, fitted vinyl flooring and carpets, patio/lawned garden and two parking spaces. Plot 25 is a two-bedroom house available at a 35% share of £66,500 (FMV £190,000, rent of £257.29 and service charge of £36.70 monthly); Plot 26 is a two-bedroom house available at a 35% share of £68,250 (FMV £195,000, rent of £264.06 and service charge of £36.70 monthly); and Plot 19 is a three-bedroom house available at a 35% share of £77,000 (FMV £220,000, rent of £297.92 and service charge of £39.13 monthly). Find out more at www.coastlinehousing.co.uk.
Briarwood, Plymouth, Devon
Built under the North Prospect regeneration programme and located in the heart of Plymouth, Briarwood is a development of 143 affordable homes which benefits from new community hub, The Beacon, which hosts an array of events and houses a convenience store, a nursery and local library. As well as local amenities close-by, Briarwood’s central location makes it easy to get into Plymouth city centre and other areas in the city. Currently for sale are a number of plots of ‘The Hazel’ two-bedroom house type, at £52,500 for a 30% share (£175,000) and £71,200 for a 40% share (FMV £178,000). Find out more at www.so-living.co.uk.
Wapping Wharf, Bristol
This is a development of two-bedroom apartments situated on the city’s thriving waterfront, a neighbourhood to live, shop, work and relax in. These new homes are just moments away from Gaol Ferry Steps and the harbourside, and within easy reach of the city centre and an array of local amenities. These properties range between £148,000 and £152,000 for a 40% share (FMV £370,000 and £380,000 respectively. Find out more at www.sovereignliving.org.uk.
Longhedge Village, Old Sarum, Wiltshire
A three-bedroom house here starts from £73,750 for a 25% share (FMV £295,000) through the part buy-part rent scheme offered by the Home Reach scheme offered by Radian Homes and heylo. It’s set in a new community taking shape just north of the delightful cathedral city, and it will also include a new primary school and community sports facilities. Outside the city, countryside and supermarkets are within easy reach. Find out more about Longhedge Village from Radian Homes.
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