Assettrust Housing offers a mortgage-free solution to would-be buyers looking to access the property ladder at Riverside Court - Hitchin.
14-10-2008
Assettrust Housing, specialists in shared ownership housing, are offering buyers the opportunity to both purchase a brand new 2 bedroom apartment from as little as £17,187, and remain mortgage free.
David Orchin, Sales and Marketing Director at Assettrust Housing explains, “Many would-be buyers have saved for their deposits, but securing mortgage finance at competitive rates remains difficult - particularly for first time buyers. By purchasing a cash share of 12.5%, the buyer can either decide to remain mortgage free, or when rates become less punitive, staircase up and buy a larger share in their property.”
This offer applies to Assettrust Housing’s newest development, Riverside Court which is located on the banks of the River Purwell close to the historic town of Hitchin, yet just 40 minutes by rail to King’s Cross. The development itself comprises 2 bedroom maisonettes and apartments, each with a fully integrated kitchen, laminate and carpet flooring and secure underground parking.
Prices start at £137,500 but with a cash share of 12.5% the purchaser can move into their new home from as little as £17,187. Monthly outgoings which would include service charge and rent on the remaining balance of the property, would amount to just £435. This compared to a monthly figure of £861 if the same property were to be bought outright.
Orchin again, “Since its introduction in the 1990s when it was backed by the Government as a practical solution to helping people access the property market, shared ownership has been growing in popularity. But with competitive mortgage finance in short supply, this latest offer by Assettrust Housing provides a simple, mortgage-free solution for anyone looking to get onto the property ladder now.”
For further information about Riverside Court, Assettrust Housing or shared ownership, please contact 0845 373 2445 or visit www.assettrusthousing.com.
For further information please contact:
Alison Blease, Head of Press, Assettrust Housing, Tel: 0845 013 227