Shared ownership scheme opens doors for local homebuyers in Gobowen

Prospective local homebuyers in Gobowen are being offered an affordable route onto the property ladder through a new shared ownership scheme.

Councillor James Owen, Shropshire Council’s Portfolio Holder for Housing and Ward Councillor for Oswestry North East, joined Persimmon Homes West Midlands to celebrate the launch of its Staircase shared ownership scheme at its Penson Grange development.

25 two to four-bedroom homes will be available through the Government-backed scheme.

The Staircase scheme has been designed to make homeownership more accessible. Buyers can purchase an initial share of their home, with their deposit based only on the share they are buying, while paying generally below-market rent on the remaining portion of the home.

The first release of shared ownership homes at Penson Grange is now available, with prices starting from £125,000 for 50% share.

Unlike conventional home buying, homeowners can gradually increase the share they own over time through a process known as "staircasing", purchasing additional shares from as little as one per cent until they eventually own their home outright. As their ownership increases, the amount of rent they pay decreases.

Councillor James Owen, Shropshire Council’s Portfolio Holder for Housing and Ward Councillor for Oswestry North East, added:

“I am delighted that another option for Shared Ownership is available here in Gobowen for those needing affordable options to get a home for themselves or their family. It is great to see more avenues for home ownership opening up for those who need them the most.”

Elaine Brown, Sales Director at Persimmon Homes West Midlands, said:

"We are delighted to be launching our Staircase shared ownership scheme at Penson Grange, helping more local people take their first step onto the property ladder in Gobowen.

We know that buying a home can be challenging, particularly for first-time buyers, and this scheme provides an affordable route to homeownership. We are proud to be investing in the community’s future by making high-quality new homes more accessible for local people.”

For more information about the eligibility criteria of Persimmon Homes’ staircase scheme: Staircase Shared Ownership Scheme, Part Buy/Rent | Persimmon Homes

You can find the homes available through shared ownership at our Penson Grange site here: Penson Grange, New Build Houses For Sale in Shropshire, SY11 3GW | Persimmon Homes