Step On To The Property Ladder

Jan. 17, 2009 - PRLog -- First-time buyers are being given the rare opportunity to take an affordable yet stylish step onto the south Devon property ladder.

A bright and airy one bedroom shared ownership apartment in the historic market town of Kingsbridge has been put onto the market.

Interested buyers can now purchase the 50 per cent share for just £52,500.

18 Crispin Road, currently council tax Band A, is ideally located in a convenient and central position closely situated to the town's amenities.

The spacious property comprises of a lounge, double bedroom, kitchen, bathroom and communal garden.

Natasha Heard, part owner of the property, says: “The market in the South Hams has made it extremely difficult for first time buyers.

“However, 18 Crispin Road offers a superb opportunity for first-time buyers to get a foot on the property ladder.

“This property is delightful, affordable and would make a great starter home for a singleton or a couple.”

Other features of the property include double glazing throughout, plenty of road-side parking, working fire place, gas central heating and two large storage cupboards.

Despite the recent fall in UK house prices, property is still very much a premium in the South Hams.

According to the Land Registry of England and Wales, the average property in the South Hams cost a staggering £334,968 in November 2008, nearly 17 times the local average salary.

Bumper property prices and a lack of affordable housing have made schemes such as shared ownership the only option for many first-time buyers.

Put simply, shared ownership, also known as part rent part buy and part ownership, is a low-cost way to get on the home ownership ladder. If you can't afford to buy outright, you can part buy and part rent your home.

The monthly cost of buying a 50 per cent share in 18 Crispin Road would be about two-thirds of what you would pay on a mortgage if you bought the property outright. When you can afford to do so, you can buy more shares until you own your home outright.

The other share in the property is owned by affordable housing provider Tor Homes.

Kingsbridge, the capital of the South Hams, provides a good range of shops, a large supermarket, health centre, leisure centre with indoor swimming pool, library, schools and churches.

Close by there are moorings, quays and slipways at the head of the Kingsbridge/Salcombe Estuary.

The area has an abundance of sandy beaches and scenic cliff top walks with the popular water sports and sailing towns of Dartmouth and Salcombe within easy reach.


Notes to Editors:

About 18 Crispin Road
18 Crispin Road is a bright and airy one bedroom apartment in a convenient and central position closely situated to the town's amenities. The property has a communal garden and plenty of road-side parking spaces.

About shared ownership
Shared ownership, also known as part rent part buy and part ownership, is a low-cost way to get on the home ownership ladder. Shared-ownership is a great way into home ownership. If you can't afford to buy outright, you can part buy and part rent your home.

About Tor Homes
Tor Homes provides quality affordable homes for local people in south Devon. Based in the South Hams, they are a non-profit making organisation, owning and managing 3,000 rented homes. They also build new homes for rent and shared ownership.

Please contact
Nick Gibbens on 01548 856561
http://www.sharedownershippropertykingsbridge.co.uk
Email: contact@sharedownershippropertykingsbridge.co.uk
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