Housing development on outskirts of town to offer shared ownership deals with buyers

Residents looking to get onto the property ladder around South Wootton now have a wider scope to choose from thanks to the launch of a new shared ownership development.Platform Home Ownership and Allison Homes have a total of 18 two and three-bedroom homes – with the developer saying that it offer is “meeting the demand for affordable in the area”.The houses are situated off of Edward Benefer Way and will be available through shared ownership. Prices start from £87,500.

Properties on the development, named Wootton Rise, have been built with the “modern homebuyer in mind”, with areas for remote working and higher energy efficiency.Shared Ownership allows home seekers to purchase a share of their home and pay rent on the remaining amount, typically buying between 10% and 75% of the property’s full market value, depending on the model purchased with.This lowers the amount needed for a deposit, with most deposits on Shared Ownership schemes between 5% and 10% of the share and not the full amount. Through the process of staircasing, those using Shared Ownership can gradually increase the amount of their home that they own.Donna Gadd, area sales manager at Platform, said: “It’s exciting to be contributing towards the growth of the area, in a great location to enjoy the rural countryside and a thriving town. “Shared ownership is quickly becoming a more sought-after route toward home ownership, so we don’t expect these homes to be on the market for too long.“Our partnership with Allison Homes means we know that these homes will be built to a high standard and therefore those who make them their own will be incredibly lucky to have landed in such a great place.”Each home is fully fitted with central heating and double-glazed windows, with allocated parking and a 10-year build warranty.