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Shared Ownership Homes In The West Midlands

Posted 15 July 2020 by Keith Osborne

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

Often considered to be overlooked at a national level, the West Midlands region has plenty to offer people as a place to live and work. There’s a real spectrum of locations to investigate, from vibrant city centres to historic rural areas.

The latest figures from the Office for National Statistics show that in the West Midlands the ratio of average property prices to average earnings is nearly 7:1, so an affordable way to buy a home is of particular interest in this part of the country.

Shared Ownership (also referred to sometimes as part buy-part rent) is a great scheme for people on a modest income to help them get a first step on the property ladder. The buyer can start by purchasing 25% to 75% of the full market value (FMV) of a home, paying subsidised rent on the remainder. Over time, they can purchase more of a share of the property (a process known as staircasing), finally up to 100% if they wish. The scheme provides the benefits and security of homeownership but is far more affordable, requiring a much lower deposit than an equivalent open-market property, and the combined monthly mortgage/rent payment is likely to be much lower than either buying or renting outright.

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

 

Arden Quarter, Stratford-upon-Avon, Warwickshire

Arden QuarterA development from Orbit Homes that features a whole range of properties in striking contemporary design, Arden Quarter is located in the heart of Stratford-upon-Avon, with easy access to shopping, leisure, transport connections, culture and outdoor spaces. Available for independent living for older buyers is a one-bedroom apartment, where a 60% share is available for £144,000 (FMV £240,000). Find out more about Arden Quarter from Orbit Homes.

 

Lyme Gardens, Hanley, Staffordshire

Lyme GardensKeepmoat Homes has teamed up with heylo to offer a number of homes here on the Home Reach part buy-part rent scheme. One is ‘The Leathley’, a detached, three-bedroom house. Off the hallway is a living room and downstairs WC as well as the ‘hub’ of the home, a kitchen/dining room with doors to the garden. The master bedroom has an en suite, and there’s a family bathroom. This home comes with a double driveway and a 50% share is priced at £88,498 (FMV £176,995). Find out more about Lyme Gardens from Keepmoat Homes.

 

Abbey Gate, Redditch, Worcestershire

Abbey GateFrom Bromsgrove District Housing Trust, Abbey Gate is located in well-connected Wire Hill, Redditch, just three miles from the Kingfisher shopping centre. Here, you will find a mix of two- and three bedroom homes for sale on a Shared Ownership basis. A coach house offers 700 sq ft of living space, two double bedrooms, garage and parking space and is priced £85,000 for a 50% share (FMV £170,000), Alternatively, a spacious three-bedroom house currently costs £112,500 (FMV £225,000). Find out more at bdhthomes.co.uk.

 

The Mews, Wolverhampton, West Midlands

The MewsOn the site of the Victorian Tettenhall Wood School this development combines converted historic elements with brand new semi-detached and terraced homes, all with allocated parking and private gardens. Residents are a walk away from numerous local amenities and shops, with families served by a number of highly regarded local schools across all ages. Prices currently start at £48,750 for a 25% share of a two-bedroom home (FMV £195,000), rising to £73,750 for a spacious family home with four-bedrooms and two bathrooms (FMV £295,000). Find out more at www.whgsharedownership.uk.com.

 

The Steadings, Essington, Staffordshire

The SteadingsAround four miles north-east of Wolverhampton, Bromford is offering homes starting at a 40% share. One is the two-bedroom terraced ‘The Cherry’, from £78,000 (FMV £195,000), another the three-bedroom semi-detached ‘The Apple’ from £96,000 (£240,000). Each one comes with a turfed rear garden and allocated parking spaces. Proximity to the M6 means it’s a good place to live for commuters to Birmingham, Stafford and beyond. Find out more at www.bromford.co.uk.

 

Eastboro Way, Nuneaton, Warwickshire

Eastboro WaySignature New Homes/Citizen have six homes available at this development just a mile-and-a-half from the town centre, which has plenty of retailers, cafés, restaurants and bars. There are also some great schools, a GP, handy shops, green space and leisure facilities close by. In close vicinity are the A5, M69 and M6, which provide easy access to the neighbouring cities, towns and villages. There are five two-bedroom terraced homes , with prices starting from £76,000 for a 40% (FMV £195,000), and one three-bedroom house at £81,375 for a 35% share (FMV £232,500). Find out more at www.signaturenewhomes.co.uk.

 

Weogoran Park, Worcester

Weogoran ParkWith the Home Reach scheme, a part buy-part rent partnership between St Modwen Homes and housing provider heylo, there are a couple of examples of ‘The Houghton’ for sale here on a 50% share basis at £144,489 (FMV £288,995). Behind its stylish contemporary exterior is a light-filled home with a living room opening into a kitchen/dining room which comes with a laundry room, WC and French doors to the garden. The family bathroom is upstairs along with two double bedrooms and one single bedroom. The principal bedroom has en suite and fitted wardrobes. Find out more about Weogoran Park from St Modwen Homes.

 

The Old Bakery, Royal Leamington Spa, Warwickshire

The Old BakeryStonewater is building a brand new collection of apartments close to the Grand Union Canal. They are just a 15-minute walk away from the main shopping streets, the station, the River Leam and the town’s delightful public gardens. Prices for these two-bedroom homes currently range from £88,600 to £91,400 for an initial 40% share (FMV £221,500 to £228,500). Find out more at stonewaterhomes.co.uk.

 

Porthouse Rise, Bromyard, Herefordshire

Porthouse RiseThe last of five Shared Ownership plots is for sale from Platform Home Ownership here, a semi-detached house from £69,000 for a 40% share (FMV £172,500). There are two good-sized bedrooms, an open-plan kitchen/dining/living room to the rear garden, plenty of storage and parking for two cars. Bromyard is an appealing market town and these new homes are situated in easy reach to shops and amenities, while the nearby A44 links eastwards to Worcester and west as far as Aberystwyth. Find out more at www.platformhomeownership.com.

 

Colerne Street, Wolverhampton, West Midlands

Colerne StreetBlack Country Housing Group currently has three terrace house plots available here, all with an FMV of £142,500 but for sale at three different starting points: Plot 48 is at £57,000 for 40%, Plot 46 at £71,250 for a 50% share and Plot 50 at £106,875 for a 75% share. There’s a lounge, separate kitchen, downstairs WC, two bedrooms, family bathroom, lawned rear garden and two parking spaces. These homes are in Ettingshall, just two miles from the city centre. Find out more at www.bchg.co.uk.


Find affordable homes developments in the West Midlands
 

Malabar (Spitfire Homes)
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