WILDBRIDGE FROM HYDE NEW HOMES HELPS BUYERS BEAT PAINFUL DEPOSIT REQUIREMENTS
Press Release: 12.10.2023
WILDBRIDGE FROM HYDE NEW HOMES HELPS BUYERS BEAT PAINFUL DEPOSIT REQUIREMENTS
It now takes over a decade to save a deposit for a mortgage in the South East, according to a new survey from Generation Rent.[1] Across the UK, it takes on average 9.6 years to save up a 10% deposit (up from 6.8 years in 2012), but in the South East it takes an eye-watering 11.3 years – the longest for any region other than London. Higher interest rates, and the tougher affordability calculations they result in, are exacerbating buyers’ difficulties.
In Yapton in West Sussex, for example, the average value of a semi-detached home in the past 12 months was £337,000 (Zoopla, June 2023). Finding a 10% deposit and affording the mortgage for such a home is a huge ask – but there is an alternative for families looking to get onto the housing ladder or move up a rung. Wildbridge from Hyde New Homes is bringing affordability to Yapton, with its collection of high-quality, high-specification homes available to purchase through shared ownership.
Launching this autumn, Wildbridge, in the desirable village of Yapton blends the best of village life with coastal living. The picturesque surroundings and close-knit community offer an ideal location for buyers seeking an affordable, contemporary and comfortable place to call home. In total, Wildbridge will provide 158 homes through shared ownership. The detached and semi-detached houses will range from two to four bedrooms, all with private turfed gardens for families to enjoy time outdoors. A handful of one-bedroom apartments with balconies and two-bedroom bungalows will also be delivered as part of the new community.
Minnie Dando, Head of Marketing & Communications from Hyde New Homes comments: “For today’s average first-time buyer, the journey to home ownership feels like a very steep climb. A major benefit of shared ownership is the lower deposit requirement. Many aspiring buyers find saving towards a deposit a hurdle in the current economic climate, with their capacity to save squeezed by increasing rents and the cost-of-living crisis. However, purchasing a home with shared ownership through Hyde New Homes requires just a 10% deposit based on the minimum share of the full price of the home. Buyers are no longer dependent on landlords and can afford to enjoy family-centric living in a lovely community setting. They can decorate their home to their own taste and are able to increase their share of ownership up to full ownership, as and when their circumstances allow.”
As is typical for Hyde New Homes, the homes feature high specifications throughout, with different roof colours and external brickwork plus two interior options and four contemporary Omega kitchen unit styles, with integrated Beko appliances. Quality flooring is also included in the purchase price, as are turfed gardens and a shed. All homes also come with at least two allocated parking spaces (garage, outdoor and/or pergola), with three spaces for some of the four-bedroom homes.
Hyde New Homes has an established reputation for building great homes in the South East. Wildbridge is well-positioned for travel along the south coast and for enjoying the abundance of places to eat, shop, drink and relax in Chichester and Arundel, being sited just three miles northeast of Bognor Regis. Beach lovers will be spoilt for choice with Climping Beach for dog lovers and East Preston and West Beach to name just a few. Both Bognor Regis and Chichester can be reached in seven minutes by train from Barnham station, which is two miles from Wildbridge and Littlehampton in just 11 minutes. Brighton and Portsmouth are both a 40-minute journey while Gatwick is 50-minutes away. For commuters or families heading into the capital for a day out, London Victoria is a 90-minute train ride away.
For families with younger children, Yapton offers a local nursery and primary school, while for older students there are two secondary schools within four miles of Wildbridge. The village also has all the essentials for daily life, while the surrounding rural and coastal landscapes provide plenty of space for families to spend time in nature.
Prices at Wildbridge start from £200,000 for a 40% share of a 1-bedroom apartment. To visit our marketing suite, view our fully dressed show home or for more information, please visit www.hydenewhomes.co.uk/wildbridge or contact Hyde New Homes on info@hydenewhomes.com or 01243 956 959.
ENDS
About Hyde New Homes
Gold standard service
Hyde’s ambition is to become a truly customer-driven housing provider. For Hyde New Homes, which means communicating clearly with, and listening to, customers throughout the home-buying journey, from the initial viewing to when they move in. We also work hard to ensure they are settled comfortably in their new home, with regular contact in the first few months.
Our expert sales consultants are ready to help, whether someone is looking at shared ownership, outright sale, or a retirement home. Our aim is always to make the purchase experience smooth and enjoyable.
A recent survey of some of our new shared owners and homeowners, by independent research company In-house, shows the success of our approach, with an impressive 92% of customers saying they would recommend Hyde to friends and family. We are delighted that, as a result, we were granted the In-house Gold Award for customer satisfaction for the tenth year running.
[1] https://www.generationrent.org/2023/07/03/saving-for-a-mortgage-deposit-now-takes-a-decade/
