A new affordable housing provider on the Island is due to release shared ownership homes for purchase at West Acre Park in Ryde later this month.
The first 9 affordable homes are made up of 2 and 3-bedroom properties and will be available with prices starting from just £105,000 to purchase a 60% share.
The homes will be built to the same specification as the open market homes on offer from developer Captiva Homes, offering purchasers an enhanced experience such as choice of kitchens, selections and extras.
Capture Housing state their aim is to achieve excellence in the delivery of affordable housing and they are passionate about improving the housing situation on the Isle of Wight for those finding it difficult to access the market.
Captiva Homes launched the first phase of its West Acre Park development off Hope Road back in February and has quickly sold out of its first 2 releases of open market homes. Captiva also state that 85% of their purchasers are made up of local people and 50% of homes have been sold to in need first time buyers.
The Capture Housing team is headed up by director Peter Griffiths who lives in Ryde himself.
Peter says:
“We are really excited to launch our new Shared Ownership homes at West Acre Park, Ryde. At Capture we take pride in creating great value affordable homes for local people and with that in mind we are seeking to sell these homes to existing residents of Ryde first.
Article continues below this advertisement “As a resident of Ryde myself, I am acutely aware of the ongoing need for new housing that local people can afford. I am committed to ensuring that the needs of Island residents are heard, and that new Affordable Housing is delivered to meet local needs first.
“Shared Ownership offers a clear pathway for people to get on to the property ladder with a lower deposit and we would encourage anyone who is interested to get in touch to discuss how this product may help them realise the dream of home ownership”
James Pink, director of Captiva Homes, has said:
“As an Island company who is passionate about the Isle of Wight and its people, we are very pleased Capture Housing is the chosen provider for Affordable Housing at West Acre Park, especially as there has been a lack of Affordable options for people in Ryde. We look forward to delivering more Affordable opportunities for local residents together in the near future”
Anyone interested in securing one of these Shared Ownership homes should contact the West Acre Park sales centre on 01983 214020 and can view property information at www.capturehousing.com.
” Captiva also state that 85% of their purchasers are made up of local people and 50% of homes have been sold to in need first time buyers.
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If this is true then need more of that. I’m always worried that the end up as buy to let. :/
Thanks, but no thanks.
I am sure one of the directors of Captiva Homes who are building the houses is pleased Capture Housing is the chosen provider for Affordable Housing at West Acre Park, particularly as he is also a director of Capture Housing!
How many people on the Island in low paid jobs can afford a 60% share at £105,000?
So how affordable to the majority of people living and working on the Island are these?
They are not affordable to most residents. We have some of the highest rates of poverty in the South East and one of the lowest average monthly wage in the UK, now even worse due to pandemic. The developers are twisting the truth to their own advantage as usual!
Passionate about making money by making a farming family jobless and homeless. Not to mention destroying precious land, mentioned in the Doomsday Book, forever. So very sad. The man is almost indescribable… I sha’n’t describe him, however. Huge bungs to a corrupt, evil, and mostly non Islander council. Once again. Sick.
All well and good but there are potential pitfalls…. Not saying it applies to this particular company. The ‘rental’ part of the deal will invariably be subject to annual increases and you will have no say in what the increase is.. If you decide to sell, they will dictate the selling price and will use their own estate agent. You will have no say in the selling price. If you decide to sell at less than the agent price, you will take the hit ( difference in price) from your share of the equity that you own. If you are thinking of going into shared ownership, make sure you thoroughly investigate all the small print so you know what you will be taking on….
Wouldn’t have anything to do with Captiva thanks!