Loddon Homes helps residents buy new semi-detached houses
THE FIRST people to sign up to a new central Wokingham development are preparing to move in.
Loddon Homes, which is run and owned by Wokingham Borough Council, welcomed its first shared owners for the new Elizabeth Road development in central Wokingham last Friday.
Using Help To Buy, the new owners will be able to move in to two semi-detached homes that have been built on the site. Under the scheme, they have bought a percentage of the property with the remainder staying under the ownership of Loddon Homes. The families pay a rent to Loddon to cover this share.
The homes are three bedrooms with ensuites to the master bedrooms and have large living spaces, gardens and designated parking.
As well as two brand new maisonettes at Barrett Crescent, these homes mark the first shared ownership homes built by Councilowned development company Wokingham Housing (WHL) and then purchased by Loddon Homes. The developments replaced two sets of dilapidated garages. As shared ownership properties, the developments have benefited from a Government Homes England grant of close to £90,000.
In a statement, Cllr Gary Cowan, Chairman of the Loddon Homes Board, said: “Through providing these new shared ownership properties to residents of Wokingham Borough we are able to provide financially accessible purchasing options for those individuals that are unable to buy on the open market due to ever rising house prices in the borough.
“With this offering, Loddon Homes has made it possible for these buyers to get that all important first step on to the housing ladder without the huge deposits required if they were to purchase a house on the open market. Loddon Homes is delighted to be able to help our very first shared owners to buy a home of their own.”
And Bill Flood, Managing Director of Loddon Homes, added: “These new properties mark the first of many shared ownership homes that WHL and Loddon Homes will deliver over the coming years and form part of a broad portfolio of affordable homes being delivered in the borough.
“These homes, commissioned by Wokingham Borough Council to meet local housing needs, are giving individuals on lower incomes the opportunity to purchase and rent homes at a level that they can afford so they can stay close to family, friends and jobs.”
For more details, log on to loddonhomes.co.uk