There was new hope for first-time homebuyers this week with a new Redditch development offering 50 per cent shared property ownership.
Evesham and Pershore Housing Association Limited (EPHA) aims to kick-start the Government's 'HomeBuy' scheme in the town with 15 new houses off Arrowdale Road in Lakeside. Another 15 will be solely for rent.
The shared ownership properties will be finished around Christmas. Prices start at around £100,000 -- half of which people can buy and the rest they rent.
In years to come residents can buy a larger element and the scheme is particularly aimed at young couples and families.
The shared ownership scheme is EPHA's first, and the homes will be offered to those on Redditch Council's housing list.
The new development will see two one-bed apartments, 11 two-bed apartments and two two-bed houses built besides the 15 other properties for rent.
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