G2, the team that specialises in building new homes that first time buyers can afford, has launched a new ‘Buy With a Friend’ scheme at its development in Redcar.
G2 Redcar, which is on Broadway West, consists of 36 one and two bedroom apartments. Demand has been so high that all one bedroom homes are sold and a deposit of only £99 is needed to secure a property.
The Buy With a Friend scheme is aimed at young people who might be currently sharing rented accommodation or still living with their parents because they can’t afford to get onto the housing ladder by themselves.
The scheme allows friends to pool their resources to secure a mortgage and buy a home at the development.
“Two bedroom apartments at G2 Redcar are available from just £83,600,” explained G2 Brand Director Fraser Thomson. “At that price, two people earning just £400 a week between them could be eligible for a mortgage to buy their own home outright together, with no need for shared equity or anything similar.”
Additional support is available for purchasers who take advantage of the Buy With a Friend scheme. G2 will help arrange advice from solicitors on drawing up a co-habitation agreement setting out respective shares of property and mortgage for each buyer.
“There is nothing that says co-owners have to share a property 50/50,” continued Fraser Thomson. “This extra support is aimed at helping those people who might be teaming up to buy at G2 Redcar but don’t want to split the ownership down the middle.”
Further information on G2 Redcar is available from the sales centre on Broadway West, open Thursday to Sunday 10am – 4.30pm, or by calling 07771 842 306. Alternatively, to register your interest click here.