Sovereign: Boost your budget with Deposit Match at Knights Quarter
One bedroom apartments available in Winchester now!
Saving enough for a deposit on a home is arguably the biggest obstacle facing house hunters today, and it’s largely due to the rising costs of everyday essentials and high mortgage rates we’re all experiencing. A recent survey from Nationwide found that 88% of aspiring homeowners have had their ability to save a deposit impacted by the rising costs of living, and more than a third (38%) were being forced to use the money they’d saved to pay other bills1.
That’s why Sovereign have introduced a new Deposit Match scheme at our Knights Quarter development to help you step onto the property ladder in Winchester by doubling your deposit*.
How does it work?
Through Deposit Match, available on any one bedroom Shared Ownership apartment at Knights Quarter, you put down a deposit equal to 5% of your purchased share value, and Sovereign will match it. For example, if you were to purchase a 25% share of a one bedroom apartment for £68,750 you would put down a 5% deposit of £3,438 and we’ll top it up with an additional £3,438, taking your total deposit amount to £6,876*.
Get moving sooner
Deposits at Knights Quarter start from just 5% of the purchased share value, providing a significantly more achievable savings goal than the 10% deposits typically required on full ownership properties, helping you to stop saving and start moving sooner.
Lower mortgage repayments
By increasing your deposit through Deposit Match, and only purchasing the share of your home that you can afford with Shared Ownership (typically 25%-40% of the property’s full market value), you can reduce the amount of money you need to borrow. This could enable you to lower your monthly mortgage repayments, and potentially provide access to mortgages in a lower loan-to-value bracket.
What’s more, Deposit Match can be used in conjunction with a gifted deposit, meaning buyers fortunate enough to receive financial assistance from family can also benefit from the scheme.
Discover Knights Quarter
For buyers keen on securing their first home in Winchester, Sovereign’s collection of one bedroom Shared Ownership apartments at Knights Quarter are the perfect place to set down roots. Conveniently located just a 10-minute walk from the city centre and train station, these apartments blend excellent design with high quality interior specifications.
Contemporary fitted kitchens come equipped with built in oven, hob, and extractor fan. Bathrooms feature stylish white suites and ladder style towel rails, and each home benefits from fitted carpets and flooring throughout. Select properties also include a covered terrace or balcony, providing access to a private outdoor space in all weathers.
To find out more visit the Sovereign Living website or speak to our friendly sales team on 0300 330 0718.
*Terms and conditions apply. Visit our website for more information.
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home-buying schemes such as Shared Ownership via our article index.