How first time buyers in Warwick can find out more about shared ownership

A housing association will be hosting an information event about shared ownership homes at a new development in Warwick.

The homes will be at the Beauchamp Park development at Gallows Hill in Warwick and are due to come available this month.

The event, which takes place on Wednesday January 12 from 4pm to 7.30pm, is designed to help give potential buyers information about shared ownership and the houses.

Andrea Palmer, L&Q’s head of regional sales, said "Shared ownership is a fantastic option to help would-be-buyers get onto the property ladder and is a stepping stone to purchasing a property for those who can’t afford to buy a home on the open market.

“While shared ownership isn’t a new scheme, there is still some confusion among potential buyers about how it works, who’s eligible to buy a shared ownership property and the language that’s commonly used.

“Our event is a must-visit for any aspiring buyers.

"We’ll have our sales team available to talk about the scheme in a jargon-free way including an independent financial adviser to provide unbiased financial advice and talk to visitors about whether they qualify to use the shared ownership scheme and how it could work for them.

"Anyone interested in attending should get in touch with us book their place.”

Shared ownership, will be available on selected two, three and four bedroom homes at Beauchamp Park from January 22.

The scheme enables those on lower incomes and the growing number of people wanting to get onto the property ladder, to part-own and part-rent a property, usually paying a mortgage on the part they own and with a subsidised rent on the part they don’t.

As their income rises, they can increase the share they own until they eventually own 100 per cent and no longer pay any rent to L&Q in a process known as ‘staircasing’.

To register for the event go to: lqhomes.com/beauchamppark/events