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Award-winning building company offers shared equity scheme to first-time buyers

PUBLISHED: 17:14 15 February 2019

The Thornton, a property at Bennett Homes' new development. Picture: CONTRIBUTED

The Thornton, a property at Bennett Homes' new development. Picture: CONTRIBUTED

Award-winning house building company Bennett Homes is continuing its shared equity initiative to help buyers in 2019.

A kitchen in a property on the Saxon Green development. Picture: Keith Mindham/Bennett HomesA kitchen in a property on the Saxon Green development. Picture: Keith Mindham/Bennett Homes

Appealing to a range of purchasers, but of particular interest to first-time buyers looking to get on the property ladder, Bennett Homes’ shared equity scheme is now available on two and three bedroom houses at The Signals, Watton, and on two bedroom apartments at Saxon Green, Ashill. It will also shortly be extended to a limited number of plots at the company’s new Church Meadow development at Sproughton.

The way the scheme works is that buyers fully own their own homes but pay a percentage of the market price, typically 75pc, with the opportunity to purchase the remaining share at any time in the future. It beats the government’s Help to Buy scheme as no rent becomes payable at any time –whether or not the purchaser chooses to buy the remaining share at a later date.

At The Signals, which is located within the attractive Norfolk market town of Watton, all homes are traditionally-built and incorporate features that are perfect for contemporary living. The development has a spacious feel and includes generous green spaces, set around existing mature trees.

At Saxon Green, the spacious two bedroom apartments include two allocated parking spaces, as well as a range of features included in the price. The apartments will be of particular interest to buyers looking for minimal maintenance and the opportunity to enjoy a communal garden.

Inside a property at The Signals, one of Bennett Homes' new developments. Picture: Keith Mindham/Bennett HomesInside a property at The Signals, one of Bennett Homes' new developments. Picture: Keith Mindham/Bennett Homes

Edward Parker, managing director of Bennett Homes said: “We are delighted to continue – and extend – this initiative which we are offering to all purchasers. We believe it will be especially helpful to first-time buyers wanting to get on to the property ladder.

“The advantage of our shared equity scheme is that unlike shared ownership schemes, no fees or interest is payable. There is also no repayment deadline, as there is with Help to Buy after which interest is charged.”

Based on a 75pc equity share basis, a two bedroom apartment at Saxon Green is priced at £112,500. At The Signals, a two bedroom house is priced at £131,250, and a three bedroom house at £157,500.

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.

Visit www.bennett-homes.co.uk or call 01284 766057 for more information.

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