Wednesday, 23 January 2019

Share cost of buying

A HOUSING association is offering 19 shared ownership homes at a new development in Benson.

Catalyst’s two and three-bedroom properties are among the 241 homes being built by Cala Homes on land north of Littleworth Road.

A 40 per cent share in a mid-terrace two-bedroom home costs £128,000.

Becky Jacomelli, area sales manager for Catalyst, said: “Shared ownership gives first-time buyers and those that do not own a home a more affordable way to get on to the property ladder.

“You pay a mortgage on the share you own and rent to Catalyst on the remaining share. It often works out cheaper than renting alone.

“The amount of money required for a deposit is a lot lower compared with the amount required when purchasing outright.”

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