OVER 80% OF SHARED OWNERSHIP HOMES AT HORLICKS QUARTER NOW SOLD

Recent research has revealed the average price paid by first-time buyers for a home in Slough reached £311,000. With average first home deposits reaching 20% of the purchase price, Shared Ownership is becoming an essential option for priced out first-time buyers.
To help meet the ongoing demand for high quality homes in the area, Abri Homes released a collection of one-bedroom Shared Ownership apartments at Horlicks Quarter in Slough. There are just under a quarter of Shared Ownership homes remaining at the development.
Shared Ownership is a scheme designed to help people take a step onto the property ladder, particularly those who may not yet be able to buy a home on the open market. It’s eligible for people who have a household income of less than £80,000 (or £90,000 if buying in London). To secure a share in the property, buyers require a minimum 5% deposit of the share, securing a mortgage on the part they own, or buying the share outright if they can afford to do so. A reduced rent is payable on the remaining share, with the option to buy additional shares when ready.
Once home to the world-famous malted milk drink, Abri Homes’ residents at Horlicks Quarter have access to a concierge, gym, cinema room, car club, residents’ lounge and rooftop garden to enjoy. Meanwhile, Horlicks Quarter is located a seven-minute walk from Slough train station and the Elizabeth Line, offering services into London in under 20 minutes.
Stuart Hensby, Sales and Marketing Director at Abri Homes, said: “Shared Ownership is designed to make buying a home more affordable. By purchasing a share of the property, the deposit required is then typically lower than buying on the open market.
“Our apartments at Horlicks Quarter have proven popular with first-time buyers, with its fantastic travel links, open spaces nearby and ongoing regeneration. With demand not slowing down and a limited amount of Shared Ownership apartments remaining, I’d encourage prospective buyers to visit the development to avoid missing out.”
For a one-bedroom apartment, buyers only require a 5% deposit of £3,406 with monthly payments of £957.29*. Monthly costs are made up of three parts: mortgage repayments on the share owned, a subsidised rent on the remaining share which is paid to Abri, and a service charge. These charges are reviewed each year and vary depending on the development. Buyers will receive a full breakdown when they enquire and discuss how much these may increase by.
Among those that have chosen to make Horlicks Quarter home is first-time buyer, Ali, who moved into the development with his family. He comments: ““Finally paying our mortgage feels like such a relief. We only pay a little bit more than what we were paying in rent, but we own part of our own home. Now we feel like we are building a future for our family and that is a great feeling.”
Prices at Horlicks Quarter by Abri Homes start from £68,125 based on a 25% share of a one-bedroom apartment [full market value: £272,500].