New shared ownership scheme launches in Gobowen, with 25 homes available
Penson Grange scheme offers buyers the chance to purchase a 50 per cent share of new home
A total of 25 new homes are being made available to buyers in Gobowen through a shared ownership scheme designed to make getting onto the property ladder more affordable.
The two- to four-bedroom properties are being offered at Persimmon Homes West Midlands' Penson Grange development through its Government-backed Staircase shared ownership scheme.
Shropshire Council's Portfolio Holder for Housing and Oswestry North East ward councillor James Owen joined representatives from Persimmon to mark the launch of the scheme.
The first homes are now available, with prices starting from £125,000 for a 50 per cent share.
Shared ownership allows buyers to purchase a proportion of a property rather than buying it outright. Their deposit is based on the share they are purchasing, while they pay rent on the remaining share.
Buyers can then increase the proportion of the property they own over time through a process known as "staircasing". Under Persimmon's scheme, additional shares can be purchased from as little as one per cent, with the amount of rent paid reducing as ownership increases.
Councillor Owen said the scheme would provide another option for people looking for an affordable route into home ownership.
“I am delighted that another option for shared ownership is available here in Gobowen for those needing affordable options to get a home for themselves or their family,” he said.
“It is great to see more avenues for home ownership opening up for those who need them the most.”
Elaine Brown, sales director at Persimmon Homes West Midlands, said the scheme would help more people buy a home in Gobowen.
“We know that buying a home can be challenging, particularly for first-time buyers, and this scheme provides an affordable route to homeownership,” she said.
The eligibility criteria for the Staircase shared ownership scheme can be found on Persimmon Homes' website, while details of the homes available at Penson Grange are also available online.