A range of high-quality Rent to Buy homes have now launched at Handley Chase, where the partnership with five-star housebuilder Miller Homes will deliver 160 affordable homes nestled within picturesque Lincolnshire countryside.
Just off London Road, the first selection of two- and three-bedroom homes are now available for home seekers looking to move to the new community, built to the highest possible standard.
Designed in a variety of styles and with modern living in mind, the energy-efficient properties will be ready to move into later this year.
Rent to Buy is a government scheme that enables individuals to rent a home at a reduced rate, while saving up for a deposit over a period of up to five years*.
Renters will typically pay a reduced rent of 80% of the home’s market value and the remaining 20% will go towards a deposit for future purchase. During or after the tenancy residents will be able purchase the home via Shared Ownership, or buy it outright once the five-year period has ended, allowing them flexibility to choose the option that suits them best.
Future phases of Handley Chase will include a range of Shared Ownership homes, ensuring the development caters to a range of buyers with different needs and at different stages of the homebuying journey.
Shared Ownership is becoming increasingly popular and allows prospective buyers to purchase a share of their home whilst paying rent on the remaining share, typically buying between 10% and 75% of the property’s full market value*.
This lowers the amount needed for a deposit, with most deposits on Shared Ownership schemes being between 5% and 10% of the share and not the full amount.
Through the process of staircasing, those using Shared Ownership can gradually increase the amount of their home that they own.
Donna Gadd, Area Sales Manager at Platform, said: “We are very excited to have unveiled our first Rent to Buy homes at Handley Chase, and to be continuing to provide people in Lincolnshire with greater access to affordable housing.
“Rent to Buy has helped countless residents secure a home without the stress of renting and saving up for a deposit at the same time and we’re taking great pride in bringing the scheme to Sleaford.
“Our partnership with Miller Homes ensures these homes will be delivered to a high standard, and we are looking forward to welcoming individuals and families into this wonderful new community.”
Situated close to the A15 and near to Grantham, Newark and Lincoln, residents at Handley Chase will benefit from both rural and urban living. The market town of Sleaford is home to a host of amenities, excellent transport links and a selection of high-quality schools.
The development will also feature a brand-new school and retirement home, ensuring Handley Chase will grow into a vibrant and diverse community.
To find out more about Handley Chase and Platform Home Ownership’s new Rent to Buy homes, visit the website or call the team on 0333 200 7304.
*T&Cs apply.