Benjamins Estate Agents is welcoming the initial release of three, newly-built, shared ownership plots introduced by The Longhurst Group in Ruddington.
These plots of affordable housing are available to help local buyers onto the property ladder. To qualify, a connection to the Rushcliffe area is preferred – those who currently live or work here, or have done so in the past.
Benjamins’ Director, Ben Featherstone, says: “Shared ownership is a much-needed scheme aimed at those struggling to afford to buy a home; the Government and associations promoting a realistic pathway to full home ownership.”
Various percentages of ownership are available to accommodate everyone’s budget. The initial properties on the ‘Fairham Green’ development off Wilford Road are two, three-bedroomed, semi-detached houses, plus a mid-terrace home {pictured top}.
Ben explains: “For example, if you were to buy 50 percent share of a home worth £300,000, this could be a five percent deposit of £7,500 and a mortgage of £142,500 on the remaining 45 percent, you will then only pay an affordable rent on the remaining 50 percent share. The rent that you will pay will also include buildings insurance and management company charges, if applicable.”
The criteria for purchase are:
- You are a first-time buyer
- You used to own a home but cannot afford to buy one now
- You are forming a new household – for example, after a relationship breakdown
- You are an existing shared owner, and you want to move
- You own a home and want to move but cannot afford a new home that meets your needs
More information about the scheme will become available from Benjamins during this year and next. So, if you aren’t in a position now but still want more details, you’re invited to contact them to register your interest as soon as possible, to avoid missing out.
Benjamins Estate Agents is located at 2E, High St, Ruddington, NG11 6EH and opens Monday to Friday 9:00am to 5:00pm & Saturday 10:00am to 2:00pm. Please ‘phone 0115 937 1713 or email info@benjaminsproperty.com.
