We are supporting residents with an affordable home ownership option, offering a proportion of homes on new developments through Shared Ownership.
This week is Shared Ownership Week, a week dedicated to increasing awareness of the government supported scheme which allows aspiring homeowners to buy an affordable share from 25% to 75% of a high quality, brand new homes.
We are celebrating two sold out developments since launching the Shared Ownership offer in late 2022. Customers have now moved into Crosstree Park, an affordable development in Downhill and customers are due to move into Wellspring Park, Town End Farm early next year.
Speaking of their new home at Crosstree Park, one Shared Ownership customer said: “Being a homeowner has given me a huge boost and feeling of achievement, which I am eternally grateful for. I can plan now and know that I have something that is mine.
“The house is absolutely beautiful, no expense spared, superb quality throughout including built in appliances and new carpets and flooring. A huge thank you to for allowing my dream to become a reality.”
Shared Ownership makes it easier to get onto the property ladder through smaller deposits and lower mortgage repayments. Home buyers pay for part of the home while renting the remaining share from us. This makes it an ideal opportunity for people who want a home but can’t yet afford to buy one on the open market.
Joanne Gordon, Development Director at Gentoo said: “To hear what it means to our customers to get on the property ladder and make their dreams a reality is exactly why we are committed to building affordable homes for the people of Sunderland.
“Buying a home is one of the biggest investments you’ll ever make and through our Shared Ownership offer we’re helping make the process easier and more affordable.”
Work is currently underway at two new affordable developments, Cricketers Hill, Carley Hill and Eskdene Rise, Hetton le Hole. Several of the homes will be available for affordable homeownership options, including Shared Ownership to help residents get a foot on the property ladder.
Our Shared Ownership homes come with a two-year Aftercare Guarantee, energy efficient air source heating, solar panels and high-performance glazing, carpets fitted throughout with vinyl flooring in wet areas, shaker-style kitchen with integrated appliances, private parking and an electric car charging point.
For more information, or to register your interest in Shared Ownership, call 0191 525 5620, email sharedownership@gentoogroup.com or visit www.gentoogroup.com/so
