Retirees given opportunity to purchase new home at 65% of market value

Merlion Homes offers retirees a new way of purchasing in Medstead

Retirees looking for a new home in East Hampshire have the opportunity to secure themselves a brand new, two-bedroom cottage, for just 65% of market value.

Merlion Homes’ last two remaining cottages in Medstead were previously on the market for 75% of market value. However, Merlion Homes has just reduced the percentage share required by homebuyers to purchase one of these sought after new homes.

Through its unique assisted purchase scheme, Merlion is now offering the two remaining cottages at 65% of market value – with no rent to be paid on the outstanding share. This reduction, which has been driven by a desire to make the last two homes more accessible to a greater number of potential purchasers, means that the homes are each available for just £240,500*.

The two, spacious two bedroom cottages are being offered specifically to retirees on a shared equity basis. The cottages, which form part of Beechcroft’s Maygate Place retirement development in Medstead are available specifically for buyers aged 60 and will be ready for occupation later this summer.

The two bedroom cottages, which are each in excess of 1,000 square feet offer spacious and beautifully presented accommodation. The homes are ideal for those looking to downsize, while still looking to retain ample space to store those treasured possessions and to entertain family and friends.

Set close to Medstead village and all its amenities, the homes enjoy an enviable location. From a traditional butcher to the village café and country pub, everything is conveniently within reach.

Tony Radford, Director, Merlion Homes, said:

“Our cottages at Maygate Place offer the over 60s quite a unique opportunity to secure themselves a stunning new two-bedroom cottage for significantly less than market value. We have already enjoyed considerable interested with the first of the homes getting snapped up. By reducing the percentage share required by purchasers, we are now able to make these homes accessible to a wider pool of potential homebuyers.

For those who have an existing, larger property to sell and are looking at ways to financially make their retirement years more comfortable, while still benefiting from the security of owning their own home, our shared equity scheme can offer the ideal solution.”

Each of the homes will be highly specified to include top of the range appliances and beautifully presented interiors. Downstairs you will find both a lounge and dining room with adjoining double doors giving flexibility, as well as a separate kitchen. Each home benefits from two bathrooms, including an en suite to the master, as well as a downstairs WC. Private parking can be found to the front of the properties, while they all enjoy their own private gardens to the rear.

Homebuyers will have the opportunity to purchase one of the cottages for 65% of the market value. Through the Merlion Assisted Purchase Scheme (MAPS), purchasers of the cottages will own 100% of their property, with no rent to be paid on the outstanding share.

*Price reflects 65% of open market price of £370,000.