Shared Ownership offers first-time buyers an opportunity
MANY home buyers are finding property prices in Torbay unaffordable, with recent figures from Hometrack indicating the average property now sells for more than £190,000.
However you can purchase an affordable new home in Torquay with the help of a government initiative called Shared Ownership.
An open event this weekend at the popular Beechfields View development in Torquay, offers an opportunity to see how you can get on the property ladder with just a five per cent deposit.
The scheme enables first time buyers with a household income of less than £60,000 a year, to purchase a share in a new property.
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Each month mortgage repayments are made on the purchased share, together with a discounted rent on the remaining share. Then, as finances allow, additional shares can be bought until the home is owned in full.
The Shared Ownership apartments at Beechfields View represent a fantastic opportunity for you to purchase a two bedroom apartment from only £52,000 for a 40 per cent share.
These spacious apartments offer modern open plan living with a stylish Symphony Milano kitchen.
Relax on the attractive balcony from the lounge and take in the far reaching views.
Each home also provides the comfort of carpets throughout, as well the convenience of a separate en-suite shower room from the master bedroom.
The open weekend will be held at Beechfields View, off Barton Hill Road, Torquay, TQ2 8HU on Saturday March 23 and Sunday March 24 from 10am to 5pm.
No appointment required.
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