SiteSales Property Group offers a range of services to developers, housing associations, registered charities and local authorities. The company operate around London and the South East in order to help local people get on the housing ladder in this expensive region.
The property group has formed a partnership with The London Borough of Newham in order to offer a housing scheme tailored to people who are usually priced out of the London property Market. The housing scheme is expected to create 1,200 properties. So far 250 properties have been refurbished, with 53 new builds also being constructed to boost the number of properties under development. The houses included in this scheme includes ex-council stock that has been refurbished. The prices of the houses available under this scheme will vary, with a two bedroomed ex-council house averaging around £300,000 and a two bed new build house as part of the scheme valued at £435,000.
The NewShare housing scheme has been set up by The London Borough of Newham Council and will offer a shared equity ownership deal for those looking to get onto the property ladder in the area. NewShare is a scheme that differs from other shared ownership schemes as the buyers will own 100% of their property straight away. The house will be bought with a mortgage and an equity loan from Newham Council. The new homeowners will then pay a 1.75% interest rate on the equity loan and, after a year, the buyers will be given the opportunity to either pay the loan back to the council in full, or in installments.
SiteSales Property Group has, so far, experienced a high level of success marketing the properties involved in the NewShare scheme, with all units at the Pitchford Street development being sold off plan on the launch day of the scheme. The company has also already sold two and three bedroomed houses within four weeks of the launch at Boleyn Place, Pragel Street development.