Buy a new home for £34,000 in Chesterfield

A charitable affordable housing provider is offering new homes from as little as £34,000 as part a recession-busting deal designed to get more people in Chesterfield onto the property ladder.

Home, which manages properties but also builds new homes for sale across the UK, is offering the deal on its new development called The Brambles at East Street, Doe Lea, Chesterfield.

With mortgage lenders effectively shutting the door on first-time buyers, Home is giving people on lower incomes hope by offering shared ownership on eight two-bedroom apartments and one three-bedroom house.

This means people can purchase a minimum 40% stake in a two-bedroom apartment for just £34,000 (full price £85,000) and a 40% stake in a three-bedroom house for £50,000 (full price £125,000).

Those who opt for the shared ownership route have the option to buy a bigger stake in their property as and when their incomes increase and they only pay a low cost rent on the share they do not own. If the price of their property goes up, they get 40%, or whatever share they own at the time, of the sale price back.

Home is holding an open day at The Brambles on Saturday 18th April from 10am to 3pm where people can view the houses and find out more about the purchase options available.

Debbie Locke, Home’s Sales Executive, said: “We are finding that first time buyers are increasingly turning to shared ownership to get on the property ladder because it allows people on low to average incomes to buy their home

“House prices are low at the moment so it is a good time to buy as when the economy picks up, prices will inevitably rise again, meaning people can either buy a larger stake in their home or hopefully make a nice profit when they come to sell in the future.”

For further information on this development people can come along to the open day on Saturday or contact Debbie Locke, Home Sales Executive, on 01332 268410.