First time buyers get a helping hand in Romsey

First time buyer Nick Haines (26), a teacher in Information Communication Technology, is one of six buyers to benefit from a special shared ownership scheme currently on offer at Barratt Homes’ Canal Walk development in Romsey.

The joint initiative, the first of its kind between Barratt Homes and Test Valley Borough Council, means that purchasers buy 80 per cent of a property while the council funds the other 20 per cent.

“It’s a great scheme and has given me the chance to get on the property ladder,” Nick said. “I’ve bought a one-bedroom terrace house - it’s bigger than I thought it would be and carpets were included, which is excellent as it all helps to save money.”

Nick, who has always lived in the Southampton area, will be starting a new job at Romsey Secondary School in September.

“Canal Walk is the ideal location for me – it’s very close to the school and only a 10 minute walk to the town centre. The train station is only five minutes away and it’s just a short drive to Southampton, where there’s plenty going on if I want a night in town.”

Nick explained that he had been looking to move for two years. “Barratt Homes seemed to offer the best financial incentive, as the 80 per cent mortgage I needed for the shared ownership scheme is very manageable. I saved a £10,000 deposit over three years, but Barratt Homes paid my stamp duty and legal fees.

“It’s all quite exciting and I think I’m lucky to have secured this property. I have a car parking space – something that’s rare in the Southampton area – and there’s a nice size garden with a lawn and shed, so I’ll have somewhere to sunbathe when summer eventually arrives.”

The six properties in the shared ownership scheme consist of four two-bedroom homes and two one-bedroom apartments. All have downstairs cloakrooms, gardens and garden sheds, fitted kitchens and parking spaces. Only two homes, both two-bedroom terraces, are still for sale and prices for the 80 per cent share are £192,000 and £184,000.

Canal Walk offers two, three, four and five bedroom houses and coach houses in a tranquil location. It has proved a great success, and only two homes are still for sale on the current phase. These are the four-bedroom Broadlands style house, priced at £434,995, and the three-bedroom Farley style townhouse, priced at £295,995,

Carolyn McKee added: “Phase two of the development, Canal Chase, is being built on land opposite this site. It will provide seven two-storey homes - one two-bedroom house and six four-bedroom houses - with prices ranging from £365,000 to £480,000.”

For further details log on to Barratthomes.co.uk.