23 Feb Blenheim Estate Homes announces application process for new shared ownership properties
Oxfordshire-based housebuilder, Blenheim Estate Homes, has announced that from Friday 1st March 2024 it will be accepting applications for three new shared ownership homes coming to market at Park View, Woodstock.
Prices for the new shared ownership two-bedroom homes at Park View start from £495,000, and feature two double bedrooms, kitchen with fitted oven, hob, extractor, bathroom with bath over shower, own rear garden, and allocated car parking space. Ceramic floor tiling is also provided within the kitchen, bathroom, and downstairs w/c.
Eligibility for the Shared Ownership Scheme includes having a local connection to the area, an annual household income of less than £80,000, and being able to demonstrate that purchasing a suitable home on the open market is financially unattainable. Applicants will also need to cover their own legal fees and have savings towards their mortgage, and deposit. Candidates will also need to be assessed as being able to afford and sustain shared ownership.
Providing an affordable pathway to homeownership, shared ownership properties ensure that the cost of buying is kept low, as the deposit required is based on the price of the share, not on the home’s full value. This is an ideal starting point for single professionals, couples, or young families aspiring to step onto the property ladder.
Rebecca Wakefield, Housing Officer at Blenheim Estate Homes, said: “Providing affordable homes is really important to us; giving a helping hand for those in our local community who are trying to make that first step on the property ladder. As both the developers and landowners, Blenheim Estate Homes is passionate about encouraging families to stay in the community for the long term and prosper.
“Applications for our new affordable homes will be open until 31st March so if you’re eligible and like the idea of having a magnificent UNESCO World Heritage Site in walking distance from your home, then don’t hesitate to apply.”
To date, Blenheim Estate Homes has built 122 affordable homes and has consent to develop 178 more. The Oxford housebuilder has an overall target of housing 300 families in high-quality affordable properties by 2027.
Shared ownership at Park View offers a unique opportunity to acquire a share in a home as low as 40%, based on its market value, with Blenheim Estate owning the remaining share. Blenheim Estate offers the opportunity to increase the ownership stake over time moving towards full ownership, and supports shared owners in their journey to acquire 100% of the property.
Blenheim Estate Homes’ long-standing development partner, Pye Homes, carefully planned and built Park View with a blend of rich history and captivating landscapes complemented by contemporary living. Designed to suit everyone from couples to growing families or those seeking a forever home, life at Park View means being part of a welcoming community in a highly sought-after area.
