SO Resi: Shared Ownership homes in Welwyn Garden City
Studio, one and two bedroom apartments at SO Resi Times Square, Hertfordshire
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 Welwyn Garden City. 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 Times Square development.
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 25%, with just a 5% deposit. 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
Conveniently located just a short walk from the town centre, the homes at SO Resi Times Square offer a high standard of modern living. The development echoes stylish art-deco sensibilities from 1930’s New York, with Dakota House and Waldorf House taking on these influences whilst still providing contemporary apartments.
Many of the apartments have either a balcony or terrace to extend living space, and there is a unique atrium within the building which provides a comfortable public meeting area with concierge service. A variety of integrated appliances are included, including a washer-dryer, oven, hob and extractor hood.
The modern bath and shower rooms are half tiled, with ceramic tiles in bathroom and en-suite. Floors are finished with Amtico Spacia flooring to kitchen, bathrooms and hall, with fully carpeted living rooms and bedroom, in one and two bedroom apartments. In the studio apartments, there is Amtico Spacia flooring throughout.
What’s more, buyers who reserve a new home at the development in November will receive six months’ rent free living.
SO Resi Times Square – Welwyn Garden City, Hertfordshire
Following a sensitive renovation over the last year, SO Resi Times Square offers a collection of stylish studio, one and two bedroom apartments which echo art-deco sensibilities from 1930’s New York. The main building has a unique atrium which provides a public meeting area, and a concierge service for all residents. Set in Welwyn Garden City, a town designed for healthy living, the surrounding area is set amongst tree-lined boulevards with a neo-Georgian town centre. There is also Parkway, a central mall and scenic parkway almost a mile long.
Welwyn Garden City boasts excellent public transport services, with regular buses and trains south to London Kings Cross in 25 minutes, and north to Cambridge and Peterborough in around an hour. The area is also well-served by major arterial road routes, namely the A1(M) and the A414.
Prices start from £53,750 for a 25% share in a one bedroom studio apartment [full market value: £215,000].
Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, comments: “Welwyn Garden City is a fantastic location for young professionals, with a vast array of local amenities surrounded by the countryside – yet central London is just a short train journey away. SO Resi Times Square offers buyers an opportunity to get onto the property ladder in an emerging hotspot at an accessible cost.
“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 aspirational buyers turn to scheme such as Shared Ownership. 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.