Strong shared ownership sales

Builder Clarion Housing launched its second phase of shared ownership homes at Ebbsfleet this month.

Alexandra Mihalache and Ovidiu Napau at their Castle Hill home

The 29 part-buy, part-rent homes at its Castle Hill development in Ebbsfleet Garden City start at £91,000 for a 35% use symbol share of a home, with the full market value at £260,000.

Castle Hill will comprise a mix of residential, business, retail, leisure and community buildings, and is expected to create 10,000 homes and 20,000 jobs for the fledgling garden city. 

Situated close to Ebbsfleet International station, trains to St Pancras take 17 minutes and and provides a direct line to Paris, Lille and Brussels. 

Residents have already moved into the development, under the shared ownership scheme.

Couple Alexandra Mihalache and Ovidiu Napau, both 28, bought a 35% share of their three-bedroom home at Castle Hill, after being priced out from renting in nearby Gravesend.

Nursing assistant Mihalache said: "Buying a new home in the current market was very difficult for us, but shared ownership made it possible for us to get on the ladder.

"Moving to Castle Hill was a big change in our lives and we are very excited as this is the start of our future; now we have a home we can plan for a family and lots of good memories."

The couple plan to buy more shares in their home over the coming years, which is known as 'staircasing'. 

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