Get on the property ladder – pay only 75% of market price
Bennett Homes is offering homes on two of its current developments in Norfolk – Saxon Green at Ashill and Woodlands at Old Costessey – for buyers to purchase on a 75% equity share basis.
The initiative is available to any purchaser, but will be particularly interesting to first-time buyers looking to get on the property ladder.
The way the Scheme works is that buyers will fully own their own homes but pay just 75% of the property’s value. If buyers wish, they can purchase the remaining share at a later date.
Properties currently available are: two bedroom apartments at Saxon Green and three bedroom houses at Woodlands.
Additional two and three bedroom homes on an equity share basis will be launched soon at a third Bennett Homes development, The Signals in Watton.
All properties offer a range of features included in the purchase price: high performance double glazing, Bosch hob and electric oven, efficient heating systems, spotlights in the kitchen and bathroom and the NHBC ten year Buildmark Warranty.
Edward Parker, Managing Director of Bennett Homes said: "We are delighted to announce this initiative which we are offering to all purchasers but we believe it will be especially helpful to first-time buyers wanting to get onto the property ladder. All our properties are traditionally-built using quality materials, have been designed for contemporary living and the developments are in attractive locations with a range of amenities nearby."
Eligibility requirements will apply and the offer is limited to those on a joint income of £80,000 or less. Buyers are invited to make an application after talking to one of Bennett Homes’ Home Advisers.
Prices on a 75% equity share basis are: two bedroom apartment at Saxon Green £112,500 and three bedroom houses at Woodlands starting at £180,000.
No rent is payable on the 25% equity share which will be retained through a legal charge, held by a third party on an interest free basis.