Purchasing a new build home in Ross on Wye could become significantly more affordable, thanks to a host of buying options presented by Edenstone Group. Specifically for their St Mary’s Garden Village project, Edenstone is offering Deposit Unlock and HomeReach shared ownership scheme, in partnership with Heylo, to ease the path to homeownership.
The spotlight is on the two-bedroom "Ashmore" property, which could be ready for occupancy before summer's end. Available at £245,000 in the open market or £122,500 for a 50 per cent share, the Ashmore presents a golden opportunity for potential homeowners. Buyers have the flexibility to purchase via Deposit Unlock, HomeReach, or even private sale, with or without a mortgage.
Adele McCoy, the sales director, explained the premise behind these flexible buying options. According to her, understanding that no two buyers' needs or finances are alike, Edenstone is offering tailored solutions to cater to everyone's unique situations. HomeReach, subject to a financial affordability assessment, allows buyers to purchase a share of the home, typically between 50 per cent and 80 per cent of the market value. Over time, buyers have the option to purchase more shares in the property, gradually leading to complete ownership.
Ms McCoy further highlighted the Deposit Unlock option, ideal for those who don't meet the HomeReach criteria. Through Deposit Unlock, Edenstone contributes to an insurance policy which lessens the risk to the lender. This means buyers with a 5 per cent deposit may benefit from more favourable mortgage rates, typically reserved for those with substantial savings.
The Ashmore is designed with comfort and convenience in mind, featuring a combined kitchen and living room, two spacious bedrooms, and a cloakroom.
Moreover, St Mary’s Garden Village, jointly developed by Edenstone Homes and Bluebell Homes, offers a broad range of properties, including a one-bedroom "Monnow style" maisonette and a two-bedroom "Eastbourne" bungalow. The new community also features three and four-bedroom family-sized houses, alongside community facilities like a play area, wetlands, allotments, formal garden, and an upcoming community hub with bike hire and gym.