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19 August 2010, 15:00
It’s now easier for first time buyers to get onto the property ladder.
The Chairman of Watford Borough Council, Councillor Alan Burtenshaw, has cut the ribbon to celebrate the completion of 51 affordable homes for people in Watford.
Willow Grange, which is situated just off Church Road, is a Victorian manor house built in the 1840s, which was later used as the headquarters of British waterways.
This has been refurbished and the new apartment buildings and houses retain some of the core Victorian fixtures.
The development was delivered by housing association Paradigm with Barratt Home. Most of the homes have been sold privately by Barratt, but 11 have been offered for sale by Paradigm through a shared ownership scheme, while 40 properties are now occupied by people who were waiting on Watford’s housing register.
Andrew Main is the Director for new Business Development at Paradigm. He’s been telling heart exactly what shared ownership scheme means:
“ People purchase round about 40 percent of the scheme and then pay a rent on the remaining 60 percent and that rent is two and three-quarters a percent which is about half the cost of having a mortgage on the full outright purchase. It’s a more affordable way into home ownership.
“The homes are principally aimed at people who are existing housing association tenants and council tenants, people who are on the council waiting list, key workers -for instance police officers, doctors, teachers - but also first time buyers.”
For more information call the Paradigm sales office on 0845 337 4877 or visit www.paradigmliving.co.uk