Housebuilder Launches Affordable Homes for First Time Buyers in Aylesham
As data reveals that approximately 30% of residents in Aylesham are renting their current homes,1 local housebuilder Barratt Homes is helping generation rent take a step onto the property ladder. In partnership with Heylo Housing, the housebuilder has launched 48 Shared Ownership homes through the Home Reach scheme, at its Aylesham development on Cooting Road.
Home Reach aims to provide an alternative low-cost route to homeownership, helping to tackle increasing loan to value mortgage requirements and stricter lending criteria. Using the scheme, buyers can purchase a share of their new home, starting from 25%, paying a mortgage on the part they own and a subsidised monthly rent on the remainder. Deposits can be as low as five per cent of the share that they are buying, and there is the opportunity to purchase more shares over time through a process known as staircasing, and eventually own 100% of the home.
Research from property portal Rightmove reveals that the average price for a property currently stands at £266,937 in Aylesham2. The new Shared Ownership apartments available at Barratt Homes @ Aylesham start from just £97,996 for a 50% share of a two-bedroom home, providing affordable housing to the local market in Aylesham. All Barratt homes have been constructed with energy efficiency in mind, with measures in place such as energy efficient boilers and high levels of insulation, that ensure a new Barratt home is up to 64% cheaper to run than the same sized older home with modern day improvements – meaning more savings for buyers.
Natalie Perry, Sales and Marketing Director for Barratt Kent, comments: “Aylesham residents will be looking to escape the rental price hikes in the area and buy outright in a location where house prices have remained relatively stable4. Our partnership with Heylo will allow us to combat rising affordability concerns and put homeownership back in reach with the launch of 48 part-buy-part-rent homes at our Aylesham development. Home Reach is a fantastic option for homebuyers who have been priced out of the open market, and we look forward to growing the community at Aylesham with our next phase of homes.”
Melissa Toomey, Director of Sales for Heylo comments: “Barratt Homes is easily Britain’s most recognisable new homes brand, and we are delighted to be continuing our partnership through this launch of Shared Ownership apartments at Aylesham. We look forward to once again working together to offer Barratt’s high-quality homes to a wider range of aspiring homeowners across this, and many other developments, across England.”
Barratt Homes @ Aylesham is ideally situated between Canterbury and Dover, with the development home to a small number of shops, post office, leisure centre, health centre and supermarket. Excellent transport links include quick access to the A2 via A260 in six minutes as well as the M2 within 26 minutes. Aylesham itself offers a close-knit community made up of several churches, a library and two primary schools perfect for families: St Joseph’s Catholic Primary School and Aylesham Primary School.
Prices at Barratt Homes @ Aylesham start from just £97,996 for a 50% share of a two-bedroom home available through Home Reach.
To find out more about Barratt Kent or the new homes available in Aylesham, call 0333 355 8502 or visit www.barratthomes.co.uk.
