A lifeline for first time buyers in Colchester

Linden Homes is assisting Essex homebuyers with their first step onto the property ladder through its shared equity scheme, allowing local buyers to purchase a new home, for 75% of its market value.

First time buyers can secure a home at Northfields on Turner Road for just 75% of its value, with Linden holding the remaining 25% stake.

Having rented in the area for a number of years, Bella Shah and her partner Tariq Khan were looking to purchase their first property together but found that their budget would not stretch to meet their expectations. However, after learning about the incentives available at Northfields and looking around the homes that were on offer, Bella and Tariq were delighted to learn that they’d be able to secure a three bedroom home at the development, through shared equity.

Bella, said:

“After looking around Northfields, we were thrilled to discover it would be possible to buy the home that we craved. We had been looking for our first home for a number of months but had not found anything that met our needs and fell within our budget. By taking advantage of Linden’s shared equity scheme, we were able to secure a three bedroom property, without having to make any compromises.”

Roseanne Bullen, Sales and Marketing Manager for Linden Homes Eastern, comments:

“Every buyer’s situation is different and as a result, we offer a full range of incentive schemes, which can be tailored to meet individual buyers’ needs. From Deposit Match schemes to shared equity we are able to provide want-to-be buyers with an affordable route into the market. I am delighted that Bella and Tariq have been able to secure a new home with us, and we are pleased to be helping many buyers like them to take their first step onto the ladder.”

Northfields at Colchester is a new 450 home community located on Turner Road and situated within close proximity to Colchester Train Station. The development consists of studio, one, two and three bedroom apartments and two, three and four bedroom homes. Phase one has now sold out and phase two will be coming soon.

For more information, visit Lindenhomes.co.uk.