Phase One of Guinness Homes’ shared ownership development, Points Cross, is nearing completion ahead of its projected Autumn 2023 target.
The development brings 193 properties to the Leeds South Bank area and is comprised of one, two, three-bedroom apartments and three-bedroom duplexes, which are now available for reservation.
Shared ownership offers an alternative route to homeownership, particularly for first time buyers, as it allows prospective homeowners to purchase a percentage of a property from the housing developer, with a monthly rental payment to be made on the unpurchased shares.
With prices starting from £89,500 for a 50 per cent share in the property, shared ownership is often more affordable due to the lower deposit that is required upfront. Over time, owners have the opportunity to purchase more shares in their property, building up the percentage that they own in a process known as ‘staircasing’, which in turn reduces the monthly rental cost to the developer.
Points Cross is strategically located at the edge of Leeds city centre and is only a 10-minute walk from Leeds Train Station. Local to Leeds City College campus and within walking distance of Crown Point shopping centre, the development is ideally situated in the heart of a vibrant community.
Amy Gooder, North Regional Sales Manager at Guinness Homes said:
“We’re very excited to open the first phase of the development to the public and have started to invite the community to view the show home and marketing suite. The completion of Phase One marks a major milestone in the development’s progress, and we’re well on track for our projected completion in Autumn 2023
“Shared ownership can make home ownership more affordable, especially for first time buyers. At Guinness, we’re passionate about being able to help so many people achieve their goal of getting on the property ladder with our properties and we can’t wait to welcome prospective buyers into our latest development at Points Cross.”
The marketing suite and show apartment are now open at Points Cross for viewings between Thursday to Monday 9am-5pm.
For more information about the apartments at Points Cross Phase One, click here.
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