Shared equity is key to home ownership says Gleeson

Easy to own new homes in Huyton get a new ‘shop window’ when Gleeson Homes takes its Montreal Gardens development to a first-of-its-kind property exhibition in Liverpool, at the BT Convention Centre on Saturday, October 10th.

Potential purchasers can find out more about Gleeson’s shared equity scheme that allows them to own all of their home from day one, but pay only 75% of the purchase price, with the remainder deferred for 10 years interest-free.

The Key Event Merseyside & First Time Buyers Show, organised by the Homes & Community Agency (HCA) and sponsored by property website rightmove.co.uk, is a one-stop-property-shop for people who are new to home ownership. It promises to provide first time buyers with all the advice and support they need, including information on the various Government supported ‘Homebuy’ schemes to make home ownership more affordable, as well as housebuilders’ own privately-funded help schemes such as the shared equity offered by Gleeson at Montreal Gardens.

There will also be a team of friendly independent financial advisers, solicitors and other property professionals at The Key Event, all primed to de-mystify the process of buying a home and make it easy to understand.

Julie Rayner, sales director for Gleeson Homes, said: “We’ve been offering shared equity on selected homes at Montreal Gardens for some time now and many of our home owners have taken advantage of it.

“We’re delighted to be taking part in The Key Event, which is a great way of reaching large numbers of first time buyers, sharing with them all the advantages of owning a new home, as well as showing them how easy it can be to achieve.”

Among those who’ve taken advantage of Gleeson’s shared equity incentive in Huyton are Liverpool hairdresser Sam Foley, 20, and her 25-year-old partner, Mike Benson. They bought a three-bedroom end-terrace at Montreal Gardens.

“Not having to find a big deposit was great,” says Sam. “And being able to put off paying 25% of the cost for up to 10 years really helped us a lot.

Gleeson’s shared equity scheme means that those with even just a 5% deposit saved need only apply for a mortgage that represents 70% of the value of their new home (Gleeson fund the remaining 25% for 10 years), which should give them access to some of the better mortgage deals in the current climate.

It’s available on selected plots at Montreal Gardens, where a new choice of three and four-bedroom homes has just been released for sale. Properties will feature contemporary kitchens fitted with ‘Regency’ units and quality appliances, including integrated oven, hob and hood; while bathrooms will be shiny and new with pristine white suites and attractive tiling.

Julie adds “As well as the option to defer 25% of the cost, there are a number of other factors that make a new home a good choice for first time buyers. Greater energy efficiency brings the potential for savings on fuel bills and there is no need to fork out for any costly renovations or redecoration when they move in.”

Located in North Huyton, Montreal Gardens has the traditional appeal of a small town setting, with the nearby shopping centre referred to by locals as 'the village' comprising a good range of high-street shops and a large Asda Walmart supermarket complex. There are plenty of schools in the area for growing families, as well as Knowsley Community College for further education.

There’s also good access to Liverpool’s vibrant city centre, with its stylish shops, lively nightlife and fine restaurants, with the M57 and M62 motorways easily reached and Roby train station less than two miles away.

Homes at Montreal Gardens are currently priced from £117,995 to £161,995; and shared equity could bring the lowest price property down to an initial outlay of just £88,496.

For more information visit the sales office, which is open from 10am to 5pm Thursday to Monday, email northhuytonsales@mjgleeson.com or log on to gleeson-homes.co.uk.

Alternatively see Gleeson at The Key Event on Saturday, October 10th, 10am to 5pm, at the BT Convention Centre, Liverpool Echo Arena. Entrance is free of charge. More information: thekeyevent.org/merseyside.