Platform Home Ownership is collaborating with Vistry at the Keresley development named Loomcroft, helping to meet the increased demand for affordable, accessible housing across the West Midlands.
The first homes, just off Bennetts Road and three miles north of the city centre, will be ready to move into this Autumn, all of which will be available through Shared Ownership or affordable rent in a mixture of styles and configurations.
Shared Ownership is increasingly becoming a more popular and viable route towards owning a home outright, with Platform seeing a 179% increase in sales throughout this stage of the 2024/25 financial year when comparing to the previous year.
The scheme allows prospective homeowners to purchase a share of their home and pay rent on the remaining amount, typically buying between 10% and 75% of the property’s full market value depending on the model purchased with.*
This lowers the amount needed for a deposit, with most deposits on Shared Ownership schemes 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.
Andy Peters, Managing Director at Vistry South West Midlands said: "We are delighted to see the first affordable homes at our Loomcroft site in Coventry nearing completion, ready for families to move in this autumn.
“This milestone, achieved in partnership with Platform Home Ownership highlights our shared commitment to delivering high-quality, sustainable homes that make a real difference in the community.
“At Vistry, we are proud to play a key role in increasing access to affordable housing and supporting local people in finding a place to call home."
Situated close to the M6 motorway and within the ring road that services Coventry, Loomcroft offers families, commuters, downsizers and other home seekers the opportunity to secure a property of their own, with excellent transport links making Birmingham, Leicester, Warwick, Oxford and other larger settlements easily accessible.
With Coventry in one direction and the peaceful Warwickshire countryside in the other, the development provides the ideal mixture of rural and urban living.
Coventry itself is rich in amenities, with a number of thriving sports teams, an extensive retail park, independent stores, restaurants and family-friendly locations.
Ryan Harris, Area Sales Manager at Platform, said: “We’re pleased to be working with Vistry to help so many different home seekers to secure their dream home through an affordable scheme.
“Loomcroft will play a vital role in addressing Coventry’s housing needs, encouraging many families and other home seekers onto the property ladder who may otherwise not have been able to.
“With demand for housing continuing to grow, quality is as important as ever. Our relationship with Vistry assures us that the homes will be built to the highest standards.”
As with all Platform Home Ownership properties, the homes will come with a 10-year new homes warranty, allocated off-street parking, double-glazed windows and central heating.
Moreover, each home will be equipped with a fully-integrated kitchen, stylish family bathroom and turfed rear garden.
For further details on Loomcroft please visit www.platformhomeownership.com or call the team on 0333 200 7304.
*T&Cs apply.