100 Shared Ownership homes coming to Daventry at brand new development

In collaboration with sought-after housebuilder Spitfire Homes, the housing association will be providing 100 homes through the scheme, which provides a more accessible route onto the property ladder for those who may not be able to purchase through outright sale.

Less than two miles south of the town centre, the development named Malabar Farm will provide a blend of charming two- and three-bedroom homes in a variety of styles, with 11 also available through Rent to Buy.

Shared Ownership allows prospective homeowners to purchase a share of their home and pay rent on the remaining amount, typically buying between 10% and 75% of the property’s full market value depending on the model purchased with.*

This lowers the amount needed for a deposit, with most deposits on Shared Ownership schemes between 5% and 10% of the share and not the full amount.

Through the process of staircasing, those using Shared Ownership can gradually increase the amount of their home that they own.

Matt Vincent, Operations Director at Spitfire Homes, commented: “We’re pleased to be working with Platform Home Ownership to help meet demand for affordable housing in Northamptonshire, through both Shared Ownership and Rent to Buy.

“Malabar is an exciting new community, catering for a range of home buyers through a variety of tenure options, from those looking to take their first steps on the property ladder right through to those who are looking to downsize.

“With the first residents already in occupation, we look forward to seeing Malabar continue to take shape, developing into a vibrant and thriving community that people are proud to call home.”

Rent to Buy is a government scheme that allows individuals the chance to rent a home at a reduced rate while saving for a deposit over a period of up to five years.*

Prospective renters will typically pay 80% of market value, with the remaining 20% going towards a deposit for future purchase. The option to buy is available through Shared Ownership or outright purchase, offering flexibility to fit with a unique homeownership journey.

Sabina Cox, Marketing Manager at Platform Home Ownership, said: “Malabar Farm is an exciting venture for us, and Spitfire’s attention to detail, hard work and expertise in design and craft assures us that our future residents will be settling in a quality and sustainable new home.

“We’re really looking forward to helping families, commuters, downsizers and more home seekers on their journey towards their dream home in this great location.

“Shared Ownership and Rent to Buy are quickly becoming more viable and popular methods of getting into the housing market, so contributing towards that journey while increasing education around these schemes is important to us.”

Situated close to the A425 main road and between Rugby, Leamington Spa, Northampton and Banbury, Malabar will offer residents the opportunity to enjoy the rural Northamptonshire countryside with a town centre on their doorstep, and excellent transport links to larger nearby settlements.

Daventry itself is rich in amenities, with a number of places to shop, eat and for leisure, while the 160-acre Daventry Country Park provides the ideal spot for dog walks, picnics and family days out.

Malabar is also surrounded by employment opportunities both within the town centre and its outskirts, with three industrial estates nearby including the Daventry International Rail Freight Terminal (DIRFT).

For families, the development is also near to a number of high-quality schools, including Badby Primary School, rated ‘Good’ in its recent Ofsted report.

As with all Platform Home Ownership properties, the homes will come with a 10-year new homes warranty, allocated off-street parking, double-glazed windows and central heating.

Moreover, each home will be equipped with a fully-integrated kitchen, stylish family bathroom and turfed rear garden.

For further details on Malabar Farm, please visit whttps://www.platformhomeownership.com/development/malabar-farm or call the team on 0333 200 7304.

*T&Cs apply.