Milton Keynes developer launches new shared ownership homes starting from £87,000 with deposit of just £8,700

A new development of shared ownership apartments has been launched in MK, with prices starting at £87,000 for a 40% share.

And there is even a low deposit incentive, with just £8,700 needed to be put down.

The L&Q-built apartments are part of the 225-home Saxon Reach project near Wavendon and are aimed at people looking to step on to the property ladder for the first time.

£87,000 buys a 40% share of a one-bedroom shared ownership apartment, which has a full market value of £217,500. A similar share in a two bedroom apartment costs £101,000.

The homes will be released on July 15 and will be the final stage of Saxon Reach, where all the other homes are sold out.

The area forms one section of the wider Glebe Farm development area, which will boast new retail, commercial and sports and leisure residents as well as a large all-through school.

Claire Brenlund from L&Q, said: “Our summer release marks the final launch of Shared Ownership homes at Saxon Reach – a scheme which we have been selling consistently for over four years.

“Our affordable offering at Saxon Reach means that buyers need not compromise on location and can instead move into their dream home in the highly sought-after town.”

The apartments are fitted with Nobilia kitchen units, a fridge-freezer, a combined washer/dryer and an integrated dishwasher. Bathroom have a thermostatic shower and folding bath screen, while bedrooms come fully carpeted and with fitted wardrobes.

All the apartments in the new launch come with a private patio or balcony.