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LOW COST HOME OWNERSHIP SCHEME LAUNCHED FOR ESSEX RESIDENTS

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09/12/2016

 

For those looking to jump on the housing ladder, an exciting opportunity has arisen at St Luke’s Park development in Runwell, Essex. Development partners, Countryside and the Homes and Communities Agency, have just launched a special selection of one to three bedroom homes within the Maple Grange phase of the development, which are available for purchase via a Low Cost Home Ownership scheme.

Low Cost Home Ownership Scheme Launched For Essex Residents

Offered initially to Runwell and Rettendon residents, the scheme enables eligible buyers to acquire up to 60% equity of the property and pay no or little rent on the remaining equity for the first 10 years.  

The eligibility criteria for these homes adjusts overs a 12 week period and qualification of the buyer is dependent on four main priorities and a number of criteria.  Priorities are as follows:

1) The first priority (applicable from 22nd November 2016) is for buyers who reside or work in Runwell or Rettendon at the time of application. 

2) Purchasers that have family members in the area will be given second priority (applicable from 20th December 2016). 

3) Those in or working in the administrative boundary of the City of Chelmsford will be considered next along with buyers that have family members residing in Chelmsford (applicable from 17th January 2017). 

Other criteria plus terms and conditions do apply and each application will need to be reviewed and approved by Chelmsford City Council. Current serving military personnel, all those who have left no later than 24 months ago with at least six years’ service will take priority over other eligible purchasers, however they still need to comply with one of the four main priorities.  Buyers do not have to be a first time buyer in order to qualify. Prices start from £194,995 and a minimum 5% deposit is required.

St Luke’s Park comprises an exceptional collection of 575 apartments and traditional three, four and five bedroom homes set within 200 acres of landscaped grounds, as part of the exciting regeneration of the former Runwell Hospital. With an attractive landscaped entranceway, St Luke’s Park is surrounded by mature trees and woodland and also features tranquil woodland walkways, a carefully refurbished Grade II listed chapel, a proposed new primary school and a range of community facilities.

For more information and to visit the Maple Grange marketing suite at St Luke’s Park, please contact 01268 983306 or email maplegrange@cpplc.com

Information correct at time of publication.

 


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