SO Resi: Get on the property ladder in Hertfordshire with Shared Ownership
Ideal for first time buyers – two bedroom apartments available in leafy Stevenage!
With figures revealing that the average first time buyer deposit now sits at nearly £30,000, those looking for a route to homeownership are turning to more accessible options such as Shared Ownership.
The Government-backed product has an attractive low 5% deposit requirement and is proving to be particularly popular in Stevenage, Hertfordshire. SO Resi, the dedicated Shared Ownership brand for leading housing association Metropolitan Thames Valley Housing, has seen a vast uptake in the product at its SO Resi Forster Oaks development in the town.
Accessible route to homeownership
Shared Ownership is open to both first time buyers and those looking to get back onto the property ladder. Buyers can purchase a minimum share of 35% at SO Resi Forster Oaks, with just a 5% deposit starting from as little as £4,305. Buyers will also have the option to increase their shares via a process known as staircasing when they can afford to do so. What’s more, the current stamp duty holiday means that buyers are exempt from the additional tax, making buying a home more accessible.
High specification homes
SO Resi Forster Oaks offers a collection of high specification two bedroom apartments, with an en-suite shower room to selected apartments, Juliet or full balcony and integrated appliances. The new homes have been designed with spacious open plan living areas, which can easily be adapted into a comfortable home working environment. Residents also benefit from an allocated parking space and secure cycle storage. Buyers who reserve a new home in November at the development will also receive £1,000 towards their legal fees.
SO Resi Forster Oaks – Stevenage, Hertfordshire
Nestled in a leafy corner of Hertfordshire, SO Resi Forster Oaks offers a contemporary collection of two bedroom apartments. The development offers the best of town and country, surrounded by countryside yet with access to a range of amenities. There are a range of shops, cafes, generous green spaces, sports and leisure facilities in Stevenage, alongside an ambitious regeneration plan set to transform the UK’s very first new town into the epitome of 21st century living.
The development is nearby to Stevenage railway station with direct connections to London King’s Cross in as little as 23 minutes. For travel by road, the A1(M) is nearby providing easy links south to London, and north to Peterborough and beyond.
Prices start from £86,100 for a 35% share in a two bedroom apartment [full market value: £246,000].
Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, comments: “It is becoming increasingly challenging for first time buyers in particular to get onto the property ladder, so it is unsurprising that we are seeing a high volume of interest in our Shared Ownership homes – especially in Hertfordshire, where property prices are typically higher. SO Resi Forster Oaks offers buyers an opportunity to secure a brand new, high quality home in an attractive location for an accessible cost.
“Shared Ownership has been around for over four decades, yet there are still many would-be buyers who are unaware of that product and its benefits. I would encourage buyers looking to find out more to get in touch with one of our Sales Advisers, who can offer tailored advice on purchasing a shared ownership home through SO Resi.”
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home buying schemes such as Shared Ownership and Help to Buy via our FAQs and guides.