South Oxfordshire residents are the first to benefit from a new scheme which enables people to access home ownership. This is the first shared ownership scheme to be developed by The Vale Housing Association, working in partnership with South Oxfordshire District Council and the Housing Corporation.
Th first buyers are now moving into eleven brand new apartments on the Sovereign Place development in Wallingford, built by Linden Homes. They are a mixture of one and two-bedroom apartments, all with fully-fitted kitchens, gas-fired central heating and allocated parking.
Shared Ownership is a scheme to allow people to buy a share of a property and pay rent to the Housing Association on the rest. Eventually they can buy further shares and own the home completely. For many people, particularly in areas of high house prices such as Oxfordshire, it is a valuable first step onto the housing ladder. Anne-Marie Crawley, Development Manager at the Vale Housing Association, explains: Shared ownership is an important alternative to full ownership, for people who have a regular income but cannot afford to buy on the open market. We're delighted to see people move into these properties for the first time and we hope to be able to develop more of these types of schemes in the future.
The first new resident, Julie Kennedy, was welcomed by a presentation of a hamper containing chocolate, tea, coffee and other treats. Julie commented: This scheme was the best thing for us, as house prices are incredibly high here. We have family living round here so we are glad to remain in the area. We've enjoyed being able to move in and furnish the place the way we want to
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Sovereign Place, situated on the former Pauls Malt site, also includes 27 Vale Housing Association properties to rent. Residents moved into flats in Tudor Close last year with more properties expected to be completed in the Autumn. Everyone in the rented or shared ownership properties will come from South Oxfordshire District Council's waiting list and have some type of local connection.
Communications and Research Manager
Tel: 01235 536001
Development Manager
Tel: 01235 536001