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    More details about: Porlock Road, Southampton, Hants

    | Porlock Road, Southampton, Hants

    For Sale 3 bedroom house
    Property value £150,000
    Share percent 50%
    Share percent price £75,000

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New Build HomeBuy at The Old Pilots Office, Portsmouth

New Build HomeBuy at The Old Pilots Office, Portsmouth

Mark from Waterlooville found himself in a housing situation not dissimilar to many other people – still living at home with his parents whilst trying to save for a deposit, yet once he thought he had enough saved, the ‘credit crunch’ hits and mortgage lenders begin to ask for deposits starting at 20%.

“Living at home meant I could save as much as possible towards a deposit and initial fees. Also considering moving costs, buying furniture, the list of outgoings kept getting bigger and bigger and I didn’t think I would ever be able to buy a place of my own” explains Mark, 31.

“I carried on house-hunting regardless, and talking to a number of estate agents and financial advisors, the government-backed New Build HomeBuy scheme kept cropping up” says Mark, “The scheme was ideal for me as it meant buying a share in a home and therefore only having to raise a deposit based on the share value, rather than the full market value”.

Mark registered with the HomeBuy Agents for Hampshire and the Isle of Wight, HomesinHants, and checked their website www.homesinhants.co.uk to find out what New Build HomeBuy homes were available in his area.

“I was living in Havant, but worked in Gosport, so I was quite open to looking at homes in and around that area” says Mark. That’s when he came across Drum Housing’s, part of the Radian Group, apartments at The Old Pilots Office in Old Portsmouth.

The 1 and 2 bedroom apartments are in a renovated 1930’s art deco building, situated in Old Portsmouth’s conservation area, with views overlooking the water to Gunwharf Quays and a short walk to the beach. “The location was so prestigious, I was very happily surprised New Build HomeBuy apartments were available” Mark says.

Mark arranged a viewing with the Home Ownership officer and loved the apartments from the start.

“The whole process was easier than I thought, and I chose one of the 1 bedroom apartments. It has amazing original features such as lovely high ceilings, yet it has a great modern feel to it. The kitchen and bathroom was fully fitted and the flat came with a really efficient boiler so it means my energy bills will be lower which is great for keeping my monthly outgoings low.”

Mark purchased a 40% share in his 1 bedroom apartment, with his combined mortgage and rent (payable on the remaining un-purchased share) costing £700 per month. “I never would have been able to buy in this area, and to privately rent costs anywhere between £750-£900 each month! Everyone has been so supportive and helpful through the whole process, and I love living so close to Gunwharf and the beach. It’s so enjoyable that it’s like being on holiday, except I can proudly call this apartment ‘mine’ and wake up to it every day”.

If you are interested in the prospect of being able to buy a house or flat of your own, call 023 8062 8004 or apply online via this website (www.homesinhants.co.uk). Alternatively visit the HomeBuy Schemes Page to find out more about the schemes available.

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