Berriman Eaton are delighted to announce that they have agreed a sale on their first ever Shared Ownership property from their Bridgnorth office in Whitburn Street. Even the recent poor weather did not stop the considerable interest in the properties on Wenlock Rise.
The three available shared ownership properties include a two bedroom mid-terrace at £157,500 and two end terrace houses at £172,500 and £175,000 (Simon Snape, Financial Adviser at Kingsland Financial, on the left pictured with Bruce Attwood, Associate at Berriman Eaton, on the right, outside the Wenlock Rise properties.)
Bruce Attwood, Associate at Berriman Eaton says, “The shared ownership scheme is an initiative to help first time buyers on to the property ladder which has proven effective so far. The enquiries since the properties were launched shows that the scheme is working and an attractive option to potential buyers, even with the unseasonal weather we have experienced in recent weeks. We look forward to better weather returning, and hopefully the remaining two properties will be reserved. At present we are close to agreeing a sale on one of the three bedroom properties.”
The Government have launched a variety of schemes if you are finding that buying a home is challenging. There are 4 types of schemes available:- Help to buy equity loans – With a Help To Buy equity loan, you buy your newly built home with at least 75% of the cost met by a mortgage and a deposit of at least 5% of the purchase price. The rest is paid for by the government through an equity loan.
Shared ownership – Shared ownership schemes are provided through housing associations. You buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share.
Newbuy – NewBuy lets you buy a newly built home with a deposit of only 5% of the purchase price.
Help to buy mortgage guarantees – available from January 2014 – A Help To Buy mortgage guarantee lets you buy a newly built home or an existing property with a deposit of only 5% of the purchase price.
