Shared Ownership is a government-backed home ownership mortgage scheme available to first time buyers and those wanting to get back onto the property ladder
Homeseekers are being offered a helping hand onto the property ladder thanks to a government-backed home ownership mortgage scheme now available to first time buyers.
36 two and three-bedroom properties currently being built in Keld, Barrowford, will be offered for sale through Shared Ownership by housing developer Laurus Homes, providing another way of buying a new home.
The houses are part of a wider development of 239 properties already underway from northern-based homebuilder Northstone, and will be available in late summer.
The partnership with Northstone is another expansion into Lancashire for Laurus, which launched housing developments in Forton and Whalley last year, and Broughton in Preston earlier this year with plans in place for more homes in Penwortham.
Shared Ownership is a government-backed home ownership mortgage scheme available to first time buyers and those wanting to get back onto the property ladder.
The initial share of the property for which the homebuyer will need to secure a mortgage for is generally between 25 per cent and 75 cent, which can mean a much smaller deposit is required.
Zac Worthington, head of sales at Laurus Homes, said: We’re really excited to partner with Northstone on these unique properties, which are an integral part of our expansion programme into East Lancashire.
Worthington said: When these homes are ready they are certain to prove very popular, with some of them including Northstone’s exciting, signature sustainable technology features such as electric vehicle charging capabilities.
Joanne Allen, head of partnerships and development for Northstone, said: We are proud to be working in partnership with Laurus Homes to grow our fantastic neighbourhood at Keld. Creating vibrant communities and unlocking opportunities is key to every Northstone development.
Allen said: By working alongside Laurus Homes, we will bring forward our affordable homes, further enhancing and developing our inclusive ownership options.
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