Shared equity scheme brings benefits to buyers
PUBLISHED: 13:20 11 January 2019
Find out how the award-winning house building company, Bennett Homes, is continuing its shared equity initiative to help buyers in 2019.
Appealing to a range of purchasers, but of particular interest to first-time buyers looking to get on the property ladder, the scheme is now available on two and three bedroom houses at The Signals, Watton, in addition to two bedroom apartments at Saxon Green, Ashill.
The way the scheme works is that buyers fully own their own homes but pay only 75% of the market price, with the opportunity to purchase the remaining 25% share at any time in the future. It beats the Government’s Help to Buy scheme as no rent becomes payable at any time, whether or not the purchaser chooses to buy the remaining share at a later date.
At The Signals, located within the attractive Norfolk market town of Watton, all homes are traditionally-built and incorporate features that are perfect for contemporary living. The development has a spacious feel, incorporating generous open green spaces and set around existing mature trees.
At Saxon Green, the spacious two-bedroom apartments include two allocated parking spaces, as well as a range of features included in the price. The apartments will be of particular interest to buyers looking for minimal maintenance and the opportunity to enjoy a communal garden.
Edward Parker, managing director of Bennett Homes said: “We are delighted to continue this initiative which we are offering to all purchasers but we believe it will be especially helpful to first-time buyers wanting to get on to the property ladder.
“The advantage of our shared equity scheme is that unlike shared ownership schemes, no fees or interest is payable, neither is there a repayment deadline as there is with Help to Buy after which interest is charged.”
Prices on a 75% equity share basis: for a two bedroom apartment at Saxon Green £112,500 and at The Signals, for a two bedroom house £131,250 or a three bedroom house £157,500.
Eligibility requirements will apply and the offer is limited to those on a joint income of £80,000 or less. Buyers are invited to make an application after talking to one of Bennett Homes’ Home Advisers on 01284 766057 or through their website.