Shared ownership comes to South Midlands

People struggling to afford their first home in the south Midlands are being given the chance to view properties included in the government's HomeBuy Direct scheme.

Homebuilder Charles Church is displaying a collection of homes which are available to buy at 70 per cent of their market value, with the remaining 30 per cent paid for through an equity loan.

The homes include a range of three and four-bedroom properties at Bridgnorth's Wenlock Grange and Barnwood Drive near Gloucester.

Sales director at Charles Church Alison Reading said the company is taking action to help get the market moving again.

"First-time buyers are pivotal in sustaining the property market which is why we are doing all we can to help them become fully fledged property owners," she commented.

Up to 18,000 buyers are set to be assisted by the government's £400 million scheme, which has been launched to help the housing market and construction sector through the recession.

Source: Direct News 15/4/09