The remaining properties at a development in Camperdown have now been completed, ready to hand over to eager homeowners.
Known as Silverbirch, the site comprises 40 affordable two bedroomed bungalows and two and three bedroomed properties, through a shared ownership scheme by Riverside Home Ownership (RHO).
Since construction – carried out by Galliford Try Partnerships North – began in January 2017, interest has been high, with many first-time buyers and young families keen to step onto the property ladder.
One of the first residents was Daniel Lenton (30), from Benton. The accountant heard about the site at another nearby RHO development, Brierdene, where homes were also quickly snapped up.
Daniel said: “I have been keen to get on the property ladder for many years. The shared ownership schemes were something that really appealed to me as it allows you to buy shares in a home and build up your ownership over a period of time.
“The location of Silverbirch is great for me as it is close to family, friends and work, whilst Newcastle is only seven miles away. I’m so pleased to live here and I look forward to getting to know my new neighbours.”
Nonie Campbell, sales negotiator at RHO, commented: “We’re thrilled that Silverbirch is now complete and residents can enjoy their modern, energy efficient homes. We look forward to seeing the new community flourish in Camperdown.
“Riverside Home Ownership is committed to bringing affordable homes to the North East and we will continue to meet the demand with the creation of new developments across the region.”
In addition to the partnership with leading regeneration specialist Galliford Try Partnerships North, RHO is delivering over 130 new affordable houses across the borough.
Sean Egan, managing director at Galliford Try Partnerships North, said: “Our mission is to improve the quality and choice of homes of all tenures for people across the North East. This project, for which we identified the site, agreed a land deal and designed up a proposal to take to Riverside, typified an approach which is sourcing great opportunities for housing associations.
“We are delighted to have built these shared ownership properties and particularly pleased that Daniel, one of the first residents, is so happy with his new home.”
Only seven, three bedroomed properties remain available at Silverbirch. Each home has been built with modern living in mind and includes a new fitted kitchen complete with integrated appliances, generous sized living areas, spacious bedrooms and a contemporary family bathroom.
Prices start from just £40,000 for a 25% share in a three bedroom home.
Shared ownership means people can buy a share in a property and pay a monthly rent and service charge on the share they don’t own. The amount they buy depends on their personal circumstances.
As the rent element is reduced and the mortgage required is smaller, it’s cheaper than buying it outright and the deposit needed is less. There is also the option to buy more shares in the future and so eventually they could own 100% of the home.
Riverside Home Ownership is the specialist affordable home ownership and leasehold division of The Riverside Group, which was established in 1928 and now owns or manages over 50,000 properties nationwide.
More information can be found at: www.riversidehomeownership.org.uk