Alexandra Mihalache, 28 and Ovidiu Napau, 28 were in a typical predicament to other ‘millennial’ couples, as they found themselves locked out of the housing market, yet a significant proportion of their salaries were being eaten up by housing costs.
They had been renting a flat in Gravesend, in Kent for the past two years and were keen to own a home of their own. They had been looking to get a home of their own for around six months before they heard about shared ownership. “We heard been about shared ownership through friends and some of our own research on internet,” Alexandra, nurse assistant said.
She adds: “Buying a new home in the current market was very difficult for us. But shared ownership made it possible for us to get on the ladder.”
The couple had been tipped off by friends about Clarion’s new Castle Hill development in Ebbsfleet Garden City, which appealed to them for a number of reasons not least the proximity to their work in Longfield, near Dartmouth.
Through shared ownership they paid £146,250 for a 45 per cent share of a three-bedroom home Castle Hill (full market value of £325,000).
Castle Hill is an exciting new development at Ebbsfleet Garden City encapsulating a new and thriving community within the area’s 17 million square feet. Buildings with residential, business, retail, leisure and community uses will be built on the site, creating of 10,000 homes and 20,000 jobs. The area’s natural beauty will also be enhanced with newly created open spaces and parklands.
The development also boasts quick connections to central London and Paris via Ebbsfleet International - trains to Kings Cross take 17 minutes and Stratford International only 11 minutes.
Having moved into their new home in the summer and they are planning on staying at Castle Hill for the long-term.
Alexandra said: “We have made this house feel like home very quickly. We are enjoying living in a new place with lots of things to do and new people to meet. We are very happy with our choice and are planning in future to buy more shares in the property until it is all ours.
She adds: “Moving to Castle Hill was a big change in our lives and we are very excited as this is the start of our future. Now we have a home we can plan for a family and lots of good memories.”
Clarion is in January 2018 releasing another 29 homes for shared ownership at Castle Hill. Prices start at as little as £91,000 for a 35 per cent share of a home, with a full market value of £260, 000.
Clarion has now released another 29 homes for shared ownership at Castle Hill. Buyers can register interest by calling Clarion's sales team on 0300 100 0309 or emailing Shared.Ownership@myclarionhousing.com.