An apartment that’s all yours for 75% of the price

The opportunity to own all of your new home but pay only three-quarters of the asking price for the time being, has been extended to a limited range of one and two-bedroom apartments in Ashford, Kent.

The 75 / 25% shared equity deal means a brand new one-bedroom property from Gleeson Homes can be bought for an initial outlay of just £67,462.50; and a two-bedroom apartment for only £74,962.50.

Customers have up to 10 years, or when they re-sell the property, to pay the remainder – with no rent or interest to pay on the outstanding balance.

Julie Rayner, sales director for Gleeson Homes, says: “With our shared equity offering, buyers only need apply for a 75% mortgage - so they should be able to get some of the best interest rate deals around without having a large deposit.

“It’s the smart choice for homebuyers who haven’t saved a big deposit but don’t want to miss out on one of our brand new homes. And they have up to 10 years before they need to pay back the outstanding amount, so they can wait until a time that suits them without worrying about any mounting interest.”

Gleeson’s ‘Vision at Stanhope’ development is part of a major regeneration project in a town that is seeing some pretty big changes of its own. Ashford already has a new-look shopping centre and multi-million pound leisure complex, plus the first commuter trains in a ‘preview’ of the new high speed train service which will be introduced fully later this year. This new service will slash the journey time from Ashford to London to just 37 minutes.

Julie adds: “Stanhope is undergoing a massive, multi-million pound facelift, while the wider Ashford area is also enjoying major investment. Our shared equity scheme is helping people to buy at a time when prices are low and there are prospects for further improvement.”

Gleeson is also offering the 75% shared equity deal on selected houses at Stanhope, which could help existing home owners step up to a bigger property without increasing their monthly outgoings in the short term.

Using shared equity, a three-bedroom ‘Bybrook’ can currently be snapped up for a 75% payment of just £107,246. The property includes designated parking, an open plan living / dining area to the rear of the house, fitted kitchen and a ground-floor cloakroom.

Gleeson has a fully furnished show home and show apartment promoting the full range of properties within Vision at Stanhope and displaying the modern kitchen and bathroom choices. Visit today to find out more, email stanhopesales@mjgleeson.com or search online at gleeson-homes.co.uk. Sales office and show homes open daily 10am to 5pm.