Making home ownership dreams a reality
Published by Shoreline for Shoreline Housing Partnership in Housing and also in Communities
Shoreline's shared ownership sales team Sarah Smaller and Stephanie Smith celebrate the success
Home-buying dreams continue to come true following another successful year of shared ownership sales at Shoreline Housing.
Sixty-two new properties across seven developments have been sold to date as local people use the scheme to buy affordable new homes.
Shared ownership provides an easy and accessible way to getting a foot on the property ladder with people buying a home that they couldn’t ordinarily afford to buy outright.
Applicants can buy from 25% to 75% of a property and pay rent on the remaining share, purchasing further shares in future years, if they wish, until they own all of the property outright.
Prices start from as little as £89,500 with a deposit of just £1,125 - for a typical 25% share, although prices vary depending on property size and type.
Shoreline sales officer Sarah Smaller said: “Home ownership is out of reach for a lot of people but shared ownership allows people to secure themselves a home and climb onto the housing ladder.
“The scheme isn’t just for people on the housing waiting list – the majority are first-time buyers - young families, self-employed people and individuals in full-time employment trying to leave home who are desperate to take their first steps on the property ladder and get out from under the feet of mum and dad.
“For first-time buyers, saving hard, this is a great opportunity as the amount of deposit required from the mortgage lender is so much less plus these properties are brand new with low maintenance which allows you to keep to a budget.”
So popular is the Shoreline scheme that all but two of the 29 recently built properties, part-funded by the Homes and Communities Agency on the sought-after Freshney Green, Grimsby redevelopment have already been snapped up.
Sarah continued: “As the area’s largest housing provider, it’s great to be able to offer options for local residents to find affordable homes be they rented or shared ownership.
“Buying a home can be very daunting but we guide people through the process right from their initial enquiry to the moment they put the key in the door of their new home.
“I love welcoming home owners to their brand new homes, knowing we’ve helped make it possible for them to make a purchase at a price they can afford.”
Anyone interested in Shoreline’s part rent, part buy, shared ownership scheme can register their interest at www.shorelinehp.com or telephone 0845 849 2000.