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31st May 2019
The Willows Watton 2

House-hunters are being offered the chance to get on the home-owning ladder for as little as £66,000 for a 40 percent share, with the release of the first eight brand new homes being offered on a shared ownership basis at Watton, by local housing provider Broadland Housing.

Eligible buyers can buy between 40 per cent and 75 per cent of the equity in the new homes, paying a reduced rent on the remaining portion – and there is the opportunity to purchase the rest of the equity later on, to give full ownership of the new homes.

A mixture of two- and three-bedroom properties are being built on the site at The Willows, Fortress Road in Carbrooke, on the outskirts of Watton. 

The brand new two-bedroom terrace homes come with a fully-fitted kitchen with oven and hob, modern bathroom, enclosed rear gardens and off-road parking.

“This is a great way for people who want to own their own home but are struggling to raise the finance to buy outright to get onto the home ownership ladder,” said Judith Kemble of Broadland Housing.

“These brand new homes offer an affordable route into home ownership, with the potential to buy the rest of the equity at a later date.”

To be eligible to buy one of the shared ownership homes, the buyers’ annual household income cannot exceed £80,000, they must not be a current home owner, and they must be able to show that they are unable to purchase a home suitable for their needs without assistance.

Applicants must be registered with the Help To Buy Agent before applying, and Broadland Housing Association will carry out an affordability assessment before any purchase can take place.

For full details of the new shared ownership homes, visit www.broadlandgroup.org/property/the-willows-watton-8-plots.