Affordable housing for Redditch first time buyers
04 December 2012
Persimmon Homes South Midlands has launched a unique development in Redditch dedicated to shared ownership properties.
The Edge development, off Brockhill Lane, features a cluster of 14 properties devoted to house hunters wanting to get on the property ladder for the first time.
This is the first time the housebuilder has solely designed a site tailored to this audience and it will offer a collection of two and three bedroom homes.
The housebuilder’s Shared Equity scheme enables buyers to secure a mortgage for 85 per cent of the market price but still own 100 per cent of the property as Persimmon Homes South Midlands sales director, Alison reading, explains.
She said: “This new development will hopefully provide a lifeline to prospective buyers who want to purchase a home but are struggling to secure a mortgage in this current market.
“All it takes is a five per cent deposit and mortgage of 85 per cent and the property is the customer’s. The outstanding amount is simply paid back when the customer sells it. It really is that easy.
”The Edge is located adjacent to Persimmon’s new Pointers Way development in an elevated position surrounded by countryside but with excellent transport links and local amenities.
Alison added: “This is an exciting development for us and we hope this approach will help many customers secure their first home.”
For further information on the Persimmon Homes Shared Equity scheme at The Edge call 0843 224 3176.