Legal & General Affordable Homes is launching a new collection of four-bedroom Shared Ownership houses at Carter Meadows in Essex to help buyers take their first step on the property ladder. 

The new community at Carter Meadows includes two, three and four-bedroom detached and semi-detached houses with gardens in the idyllic village of Latchingdon, Essex.  The new collection of four-bedroom houses will offer more families a fantastic opportunity to put down roots in this charming area and provide an alternative path to homeownership. For a minimum 30% share, prices start at £180,000 for a four-bedroom house.  

What is Shared Ownership?

Shared Ownership could be your step onto the property ladder.  It supports those who are unable to purchase a property outright on the open market, where you can buy a portion of a home and pay rent on the remainder. 

The deposit required for Shared Ownership properties is significantly smaller than a typical deposit because it is a percentage of the share that you purchase rather than the value of the full property. 

Monthly costs are also typically in line with, if not less than, those associated with private renting.  This is in part due to the fact that you only need a mortgage on the share that you buy.

Through a process called staircasing, over time you can incrementally increase your share of the property to 100 per cent should you wish to.  More information on Shared Ownership including benefits and requirements can be found at landgah.com/help-and-advice/shared-ownership-explained/

 Carter Meadows and beyond

Each house at Carter Meadows has an open plan living area full of natural light, well-appointed interiors and integrated appliances – equipped with everything needed for modern, contemporary living.  With private gardens for every house, plus an attached garage to some of the properties, these homes are perfect for growing families. 

Set between two rivers, surrounded by farmland and with a nature reserve just down the road, the little village of Latchingdon is a haven of peace and quiet.   Situated in the centre of the village, homes at Carter Meadows offer all necessities on their doorstep, with a primary school, shop, post office and local pub within walking distance.  Latchingdon is also perfectly placed to benefit from some of Essex's finest countryside, boasting a variety of walks through the fields of the Dengie Peninsula and along the coastal paths. 

For larger shops plus family-friendly activities such as a zoo and museums, the charming town of Maldon is just a 15-minute bus journey away.  The buzzing cities of Chelmsford and Southend-on-Sea are also a short drive away, offering a range of restaurants and nightlife, cinemas and live music.  And for commuters looking to strike the perfect work-life balance, trains from North Fambridge station provide access to London in under an hour.

Ben Denton, chief executive at Legal & General Affordable Homes, said: “Rising costs are making it harder to save for a deposit, leaving people to feel as though getting onto the property ladder may be out of their reach.  That's one of the benefits of Shared Ownership – the deposits required are often significantly smaller, meaning it could make your dream of homeownership a reality.  

“It's important for us to be able to provide people with a stable and secure place to call home, support with the best possible purchasing experience, and build sustainable communities where everyone can thrive.”

For a minimum 40% share, prices start at £144,000 for a two-bedroom and £159,000 for a three-bedroom house.  For a minimum 30% share, prices start at £180,000 for a four-bedroom house.

For more information, you can visit the Legal & General Affordable Homes website at landgah.com/ carter-meadows.

-ENDS-

Contacts 

For further information on Legal & General Affordable Homes, please contact: 

Samantha Southwell

Digital Communications Lead, Legal & General Affordable Homes

07531222828

Samantha.southwell@landgah.com

Jemima Pring / Drew Gilbertson

Camargue

020 7636 7366

lgah@camargue.uk

Notes to editors

Legal & General Affordable Homes

Legal & General has been involved in housing for over 20 years and established Legal & General Affordable Homes (LGAH) in 2018 with the aim of becoming the leading private affordable housing provider in the UK.  Across its fast-growing portfolio of developments across England, LGAH offers social and affordable rent as well as Shared Ownership homes. 

Dedicated to helping to tackle the current housing crisis and with a commitment to deliver 3,000 new affordable homes annually, LGAH seeks to make a positive difference to the affordable housing sector and offer an alternative route onto the property ladder. 

LGAH's mission is to better people's lives and ensure everyone has access to a safe and secure space to call their own.  It strives to create sustainable communities with high-quality homes, reflected by its key principles of quality, sustainability and customer service which underpin every decision made.  Recognising the strength in partnership and collaboration, LGAH works with local housebuilders, housing associations and contractors to deliver homes which are affordable and accessible.

Visit www.landgah.com for more information.

Legal & General Capital

Legal & General Capital (LGC) is Legal & General Group's alternative asset platform, creating assets for Legal & General Retirement and third-party clients in order to achieve improved risk-adjusted returns for our shareholders. 

LGC has built its market leading capabilities in a range of alternative assets, delivering depth of resource, track record and intellectual property. Investing in the real economy and creating alternative assets that deliver a tangible societal impact, its purpose is to invest society's capital for society's benefit.  LGC's investments have been vertically integrated and include: residential property; specialist commercial real estate; clean energy; alternative credit; and venture capital. 

As LGC's capability to create alternative assets continues to grow, it will not only continue to expand its balance sheet but also to create alternative assets for third party investors. Many of these investors have the same aims, namely to create assets to back pensions with an improved yield or to create assets with strong growth prospects but with low correlation to equities performance.

L&G has invested over £30bn in levelling-up regional economies, including through major regeneration schemes in Cardiff, Newcastle and Salford. Legal & General recently made a commitment to enable all new homes across its portfolio to operate at net zero carbon emissions by 2030, including Legal & General Modular Homes, CALA Group, Legal & General Affordable Homes, Build to Rent and Later Living.

Legal & General Group

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.