Shared Ownership Event in Peterborough

Sunday 7th October 2007

Shared Ownership Event in Peterborough - to help potential buyers get onto thehousing ladder

Peterborough's top housing associations are staging a special event to explain how shared ownership schemes can help people get onto the housing ladder without having to sign up to a huge mortgage.

Led by locally-based Accent Nene, the event aims to explain how shared ownership works. It will also highlight current and forthcoming shared ownership schemes in and around Peterborough, including a special shared ownership option for older people. As an added bonus everyone who visits during the day will be entered into a free prize draw for £250 of shopping vouchers.

The event takes place at the Bull Hotel's conference centre in Westgate, Peterborough - next door to the hotel itself - from 10:00 am to 4:00 pm on Saturday 6 October. People who are interested in finding out more about shared ownership can turn up at any time during the day to talk to the experts.

As well as staff from Accent Nene there will be representatives from housing associations Cross Keys Homes, Minster and Axiom. Leading shared ownership lawyers and financial experts have also been invited to come along to advise potential buyers. The event is being sponsored by estate agent, Sharman Quinney which is currently responsible for selling a number of shared ownership homes in the area.

Meg Lewis of Accent Nene said: "Rising house prices and higher mortgage interest rates are making it almost impossible for people on average incomes to buy a home.

"Shared ownership allows first-time buyers or people struggling to get back into home ownership to get a foot on the property ladder by purchasing an initial share in their home, typically 50 per cent. Further shares can be bought at a later date when individual circumstances improve.

"A rent, and sometimes a service charge, is also payable on the share of the property which the buyer does not own but the total cost usually equates to no more than 75 per cent of a full mortgage.

"Shared ownership is a great idea and in today's housing market it is becoming a much more common way for people to buy their home. We hope that local people will take advantage of the expertise on offer and come and talk to us to find out more."

Posted by 0 for Accent Nene Ltd.