***New Release***

The Development

Platform Housing Group are pleased to announce the next phase of 2 & 3 bed properties, offered for Shared Ownership at Regency Gate - built by Taylor Wimpey.  Plots available Nov/Dec 2023.

This development is situated on the outskirts of the historic city of Worcester, home to Worcester Cathedral, Worcester Racecourse and the infamous Worcester County Cricket Club.  The High Street offers a selection of independent shops, boutiques and many restaurants to choose from.  Coupled with excellent schools and green open space, Regency Gate is ideal for offering both city and country life living.

This development is perfect for commuters, conveniently located to Worcester Foregate Street train station, offering direct services to Birmingham, Hereford and Malvern.  The M5 is easily accessed by a short car journey, and many bus services offer frequent services in the area, to the city and further afield.

The Properties

A selection of 2 & 3 bedroom properties will be available to purchase for Shared Ownership.

Two Bedroom:

The accommodation briefly comprises of entrance hall, downstairs W/C & kitchen (fitted with integrated fridge/freezer, cooker/hob and cooker hood & USB port) leading to the living/dining room.  To the first floor: two double bedrooms and family bathroom. The properties will benefit from gas central heating and double glazing, as well as allocated parking and enclosed rear garden, with garden shed. 

Plot 70 (Two Bed Mid- Terrace House)

£255,000 - Available November 2023

Prices start from £102,000 for a 40% share

Monthly rent on remaining share: £350.63

Plot 71 (Two Bed End -Terrace House)

£257,500 - Available November 2023

Prices start from £103,000 for a 40% share 

Monthly rent on remaining share: £354.06

Plot 159, 160 (Two Bed Semi-Detached)

£260,000 - Available December 2023

Prices start from £104,000 for a 40% share 

Monthly rent on remaining share: £357.50

Three Bedroom:

The accommodation briefly comprises of entrance hall leading to living room,  downstairs W/C & kitchen/diner (with integrated fridge/freezer, cooker/hob & cooker hood and USB port). To the first floor: three bedrooms (one with ensuite) and family bathroom. The properties will benefit from gas central heating and double glazing, as well as allocated parking and enclosed rear garden with garden shed.

Plots 67, 73 (Three Bed Semi-Detached House)

£300,000 - Available November 2023

Prices start from £120,000 for a 40% share 

Monthly rent on remaining share: £412.50

**Other shares can be purchased subject to an affordability assessment - Shares from 25% - 75% on initial purchase.

***Local connection - We can now accept applications from wider areas, but priority will be given to those with a connection to the following areas: Lower Broadheath, Rushwick, Cotheridge, Broadwas, Wichenford, Kenswick, Hallow and Malvern Hills District ***

** Please note, this is an ongoing build programme until 2029, with further phases being released**

These properties are due for build completion in NOVEMBER/DECEMBER 2023, we’re therefore currently unable to offer viewings and will be accepting reservations off-plan.

Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time you can purchase more shares in your property – this is known as ‘staircasing’. This can be done at any time after initial purchase and it will reduce the amount of rent you pay as the share of the home that you do not own will have got smaller.

Council Tax TBC - due to these properties being new builds and not being previously occupied the council tax and banding has not yet been set. 

Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details. 

Ground Rent – Not applicable

Next Steps:

1. For further information, please download our brochure below.
2. TO APPLY NOW, Please register with Help to Buy for Shared Ownership.
3. Then send your approved Help to Buy Application form or reference number to the Sales Team.
4. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
5. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
6. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.

We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area.

For more detailed information and your obligations in relation to shared ownership please download our ‘Guide to Shared Ownership’

Am I eligible?

Shared Ownership uses the following criteria to help people to get onto the property ladder:

- Maximum annual household income of £80,000.

- Unable to purchase a home suitable for your needs.

***Please note some images should be used as a guide only***