New homes at Kingsbridge Fields, Gorseinon
Our affordable housing brand, Gŵyr Homes is working with Persimmon to build 11 new 2, 3 and 4 bedroom homes to buy on the Kingsbridge Fields development at Loughor Road, Gorseinon.
Persimmon is one of the UK’s largest new homes providers and prices will start from just £87,500.
High mortgage rates, large deposits and lower incomes have made home ownership increasingly difficult for many individuals and families. 'Affordable' housing gives people a chance to get on the property ladder by providing new build homes at 70% of the market value and offering finacial options that make mortgage payments manageable.
At our Kingsbridge Fields development, home buyers would pay 70% of the open market value of the property. While there is no equity share or second charge arrangements with these properties, the home owner can choose to pay the City & County of Swansea what is called an 'affordable housing contribution'. This represents the remaining 30% of the open market value and means the home could then be sold at the full open market value. There no obligation on the owner or the City & County of Swansea to do this.
Stuart Davies, our Executive Director of Property Development and Management said: “We are delighted to be working with Persimmon to deliver affordable homes to individuals and families. We understand that getting onto the property ladder can be difficult. We want to help those who are unable to buy on the open market; breaking down those barriers and to give people the opportunity and a sense of security of owning their own home.”
The properties will be completed in three phases, with the first phase of 3 bedroom homes to be completed by Feb 2014.
Interested parties can join the Gŵyr Homes mailing list or call 01792 488250 for more information. An open day has been scheduled for October (date TBC) with applications to open at the same time.