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A primary school teacher in Essex is finally on the property ladder thanks to Colne Housing Society.
Gemma Whitfield, a primary school teacher in Essex, has finally been able to get a foot on the housing ladder thanks to Colne Housing Society.
With average house prices in Essex well over £200,000, yet incomes averaging only £27,000 a year, Colne has been looking at ways to help first time buyers gain a step on the housing ladder.
Working closely with local authorities and developers, it created the ‘Solutions’ shared equity scheme. Purchasers buy a fixed share in their home. No rent is payable on the remainder and owners benefit from any increase in the value of their share when they sell.
Collyer’s Court was one of Colne Housing Society’s shared equity schemes where all the 17 one and two bedroom flats have been offered at prices under £80,000
Gemma said, “I could never have afforded to buy my own home if it were not for this scheme. I looked around at other two bedroom places for myself and my daughter but they were all out of my reach. Collyer’s Court is perfect because it is close to my school and to my daughter’s nursery and I can afford the mortgage.”
For more information, contact Colne Housing Society on 01206 244700 or go to www.colnehousing.co.uk
