SOUTH WEST housebuilder, Summerfield Homes, is making homeownership more accessible for first time buyers in Watchet by making 30 new properties available at 25% less than their market value.
As part of the second phase of the development at Liddymore Park, Summerfield Homes is making 30 of its properties available under the Summerfield My Home scheme, allowing eligible buyers to purchase a property for less than its market value.
Unlike with shared ownership, a purchaser buying under the Summerfield My Home scheme will own the property outright with no ongoing rent payments, and when reselling, the home must be sold under the same affordability criteria. To qualify, interested buyers must register with Homefinder Somerset.
A range of homes are available through the scheme, from apartments and terraces to semi-detached and detached homes, varying from one to three bedrooms. All homes are built to Summerfield’s high standard and will benefit from gas-fired central heating, double glazing, a garden, and parkin,g and will come with a ten-year NHBC warranty.
Philip Morgan, Sales and Marketing Divisional Director at Summerfield Homes, said: “We know how daunting it can seem to get a foot on the property ladder these days, so we are pleased to be able to offer people this exciting opportunity, especially in a place like Watchet which has so much going for it.
“Judging by the response to our scheme on some of our other developments, we expect interest to be really keen so we would urge anyone who thinks this might be for them to register as soon as possible.”
Will Stone, who has bought one of the two-bedroom homes, said: “As a first-time buyer, getting onto the property ladder felt out of reach until I found the My Home scheme. The discount meant I could buy my first home on a solo income, which has been a huge relief and a proud moment.
“I’m thrilled with the quality of the build and the overall development, and being able to stay close to my family makes it even better. Both my sister and I have been able to take advantage of the My Home scheme, and I’d recommend it to anyone who’s eligible and considering their first purchase.”
The 30 My Home properties are in addition to the 24 affordable homes on the site, which will deliver 250 much needed new homes to the area.