The ‘Bank of Mum and Dad’ has always been an excellent way to help first-time buyers take their first step onto the property ladder and, in 2023, financial family assistance has provided more help to homebuyers than ever before. According to Legal and General, a record 318,400 purchases will be supported by family this year, with 47% of all home purchases by buyers under the age of 55 set to be family-driven[1].
For first-time buyers keen on securing their first home with the assistance of their parents, Sovereign Network Group’s collection of Shared Ownership apartments at Knights Quarter in Winchester, Hampshire are the perfect place to set down roots. Occupying a prime position just a few minutes’ walk from the city centre, alongside a modern interior specification, the apartments within the development will ensure both buyers and their parents are more than satisfied.
Offering a fantastic base for first-time buyers to make the most of city living, Knights Quarter is beautifully situated close to the train station, connecting passengers to the cities of Southampton or London. Comprising a collection of one and two bedroom apartments, each property is available to purchase through Shared Ownership with 5% deposits from as low as £3,438[2], making it a much more affordable venture for buyers and their assisting family members. Alongside a prime location, residents at Knights Quarter will benefit from stunning landscaped surroundings, while parents can rest easy knowing that their children can fly the nest in a high quality home nestled at the heart of a safe new neighbourhood.
Lisa Moran, Sales and Marketing Director at SNG, comments: “Over the past year, we’ve seen an increase in family members – especially parents – offering financial help to their loved ones to assist them in buying their first home. Winchester is such a fabulous location for first-time buyers, with the buzz of city living and an array of retail and entertainment hot spots on the doorstep, buyers won’t have to compromise on a vibrant lifestyle.”
Apartments at Knights Quarter have been designed to blend a stunning design with spacious open-plan interiors. Built in electric oven with hob and extractor fan are seamlessly integrated into the design. Modern bathrooms feature stylish white suites and ladder style towel rail and each home has fitted carpets and flooring throughout. Some properties also benefit from a covered terrace or balcony, providing access to a private outdoor space in all weathers.
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