Saving for a deposit is frequently recognised as a major financial hurdle to getting on to the property ladder. New research from Santander reveals that the proportion of first-time buyers who said saving for a housing deposit was a barrier to buying jumped from 30 percent in 2019 to 52 percent in 2021.
Through Shared Ownership, leading housing association Catalyst is making the Oxfordshire property market more accessible to first time buyers, with its collection of one-to four-bedroom homes at Newman Place in Littlemore.
Available with deposits from as little as £3,437.50 the new homes offer a more attainable route on to the property ladder for those with smaller savings.
All homes are available through the government-backed part-buy, part-rent scheme, which provides an alternative route on to the property ladder for first-time buyers. Through the scheme, buyers purchase a percentage share of their home, usually between 25% to 75%, and pay rent on the remaining portion. Purchasers need as little as a 5% deposit to cover the share they purchase, and a mortgage to cover this portion. As and when buyers can afford to, they can purchase larger shares in their home, through a process called staircasing.
Set within attractive landscaped grounds, less than four miles south of Oxford city centre and moments from rolling Oxfordshire countryside, Catalyst’s Newman Place offers the best in countryside and city living.
The development has been designed to reflect the character of its natural landscape, with gently curving roads and rich landscaping. A raised walkway stretches the perimeter of the site and weaves through trees, bringing residents closer to nature.
Featuring high specification finishes throughout, the apartments feature open-plan living areas, generous private balconies and large windows creating bright and spacious homes.
Conveniently positioned close to Littlemore’s range of amenities including a nursery, range of supermarkets and parade of shops, residents have useful facilities on the doorstep. Just a 10 minute drive away, buzzing Oxford city centre offers a plethora of shops and restaurants.
Prices at Newman Place start from £68,750 for a 25% share of a one- bedroom apartment (FMV:£275,000) and £84,375 for a 25% share of a two-bedroom apartment (FMV:£337,500).
Find out more at: Catalyst.homes