Affordable way to buy a new home in Padiham
Remarkably affordable shared ownership deals are helping buyers secure the new home they want in Padiham, one of Lancashire’s most vibrant up-and-coming areas.
People across the country are taking advantage of a simple shared ownership deal which offers an ideal way to gain a foothold on the property market without breaking the bank.
Under the scheme, buyers can own their own property but only need to take out a mortgage for part of it and with a lower than usual deposit.
Best of all, the shared ownership scheme is on offer at Padiham’s New Calder Green development where there are more than 20 stunning two and three-bedroom homes waiting to be snapped up.
In certain cases, buyers could move into a brand new home with spacious family-sized rooms, lovely fitted kitchen, garden and all the peace of mind that comes from a new property, yet with a mortgage of only £63,750. The new development is at the heart of the picturesque former mill town which is ideal for commuters – Hapton, Rose Grove and Huncoat railway stations are just minutes away.
Padiham is also known for its good schools, laid back semi-rural environment and as a growing creative hub which is attracting a thriving community of independent shops, bars and restaurants.
What is shared ownership?
Shared ownership is a UK Government devised scheme devised to make it easier for first time buyers and people on tight incomes to find a route into the property market.
It’s certainly proved popular – there are currently over 200,000 shared ownership homes.
The scheme lets householders part-buy and part-rent their home from a trusted housing association.
That way, buyers don’t have to worry about funding an expensive 10 per cent mortgage and hefty deposit.
For example, a property costing £127,000 bought using 50 per cent shared ownership deal would mean the new owners paying under £6500 deposit – much easier to achieve than the normal £12,700.
And if owners opt for a 50 per cent share of one of the new Padiham properties, their mortgage could be £63,750.
There’s flexibility too: buyers can opt to take over a larger or smaller share of their home depending on their circumstances, and increase their share when they’re ready.
A new home – now
Shared ownership scheme is available for all properties at Hobstones Homes’ New Calder Green development at Wilding Way, Padiham.
The charming development is made up of 20 two and three bedroom semi-detached and mews properties, and is handy for the M65 and M6 with great bus and rail links which makes commuting a breeze.
Inside, the high-spec homes feature quality fittings, gleaming kitchen and bathroom. While outside there’s a driveway for the car and turfed rear garden – ideal space for growing children, pets or just to sit outside and relax.
The new homes come with a 10-year LABC warranty and 12 months defect period, while gas central heating and double glazing means the spacious rooms will be cosy and warm, and will be reafy to move in to from September 2020.
Padiham is rapidly becoming one of Lancashire’s housing hotspots thanks to its town-meets-village feel, regular art and crafts markets, and good schools.
Don’t miss out
Hobstones’ New Calder Green properties at Wilding Way, Padiham, are ready to move into and with such a good shared ownership opportunity, they’re bound to be snapped up quick.
To find out more about how a shared ownership scheme could help you on the way to a new home, and to arrange a viewing, visit www.hobstoneshomes.com.