Successful first phase of Shared Ownership homes comes to a close with more to come next year

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Platform Home Ownership has announced the conclusion of a successful phase at its Shared Ownership development in Oundle, in collaboration with five-star housebuilder Vistry.

The final homes were handed over to the newest residents recently at the Cotterstock Meadows development, helping to meet the increasing demand affordable housing in Northamptonshire all of which were secured through Shared Ownership.

Shared Ownership allows homeseekers 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.

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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.

Typical interior at a Platform Home Ownership property.Typical interior at a Platform Home Ownership property.
Typical interior at a Platform Home Ownership property.

The development, just off Glapthorn Road, comprises an array of two- and three-bedroom homes, offering a unique blend of rural living without sacrificing the character and amenities that a charming town provides.

Built with the modern homebuyer in mind, with contemporary fittings, areas for remote working and high energy efficiency, the residents at Cotterstock Meadows will benefit from settling into a high-quality, spacious home carefully crafted to high specification.

Platform has seen an increase in popularity in the Shared Ownership scheme. In fact, the start of 2024 has seen a 152% sale increase when comparing to last year, owing to the increase in popularity of the scheme in a time of economic uncertainty.

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Through the process of staircasing, those using Shared Ownership can gradually increase the amount of their home that they own.

Computer-generated image of a home style at Cotterstock Meadows.Computer-generated image of a home style at Cotterstock Meadows.
Computer-generated image of a home style at Cotterstock Meadows.

Fraser Hopes, regional managing director at Vistry East Anglia, said: “Cotterstock Meadows enjoys a unique location in this historic market town, where there are few other new-build options, so the 130 new homes we are building here under our Bovis Homes brand have been important in helping to meet local housing need.

People who live locally prefer to stay in Oundle if they can when they are looking to buy, so the Shared Ownership scheme available here is allowing them to move into a high-quality new home within the town and not have to compromise on location.”

Syeda Bhurji, Sales Consultant for Platform, said: “Northamptonshire is an important area for us, as we know the demand for more affordable routes towards home ownership is very high, so to make that journey more accessible is rewarding.

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“Shared Ownership is quickly becoming a more sought-after method of doing so, so there’s little surprise that this phase of homes was so popular.

“Our partnership with Vistry means we know that these homes have been built to a high standard, and that those who have purchased here have a carefully designed property in a great location.”

Cotterstock Meadows sits at the northern tip of Oundle, giving new residents an ideal choice of pursuits between the amenities of the characterful town and the idyllic and scenic activities of the Northamptonshire and Cambridgeshire countryside in the opposite direction.

Just 14 miles from Peterborough, with Corby, Kettering and Wellingborough also nearby, Oundle is surrounded by larger settlements for commuters, shoppers and those who like to eat out, while the town itself is rich in cultural significance and places to be.

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Cotterstock Meadows is also near to a number of good quality schools for all ages, with the east of England road network meaning the Midlands, London, east coast and north-east are easily accessible.

More information on next phase of homes at Cotterstock Meadows will be announced later this year.

For further details on Cotterstock Meadows, please visit www.platformhomeownership.com/development/cotterstock-meadows-oundle or call the team on 0333 200 7304.

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