THE cost of living in a new build home in Ross on Wye could be lower than expected with a choice of buying options.

Edenstone Group is offering to make homeownership easier to afford for buyers at St Mary’s Garden Village.

All homes within the new community fall within the price cap for Deposit Unlock. Customers buying this way should be able to access favourable interest rates while only putting down a 5% deposit.

Alternatively, Edenstone is working with Heylo to offer selected homes through the HomeReach shared ownership scheme.

The two-bedroom Ashmore can be purchased either with Deposit Unlock, HomeReach or as a private sale purchase, with or without a mortgage, and could be ready to move into before the end of summer.

The Ashmore is available from £245,000 on the open market from £122,500 for a 50% share.

Sales director Adele McCoy explained: “We understand that no two buyers’ needs or finances are the same, which is why we offer flexible buying options. In the current economic climate this is particularly important as people look to lower the cost of living.  HomeReach is subject to a financial affordability assessment to determine what share of the home a buyer can purchase. This is usually between 50% and 80% of the full market value. As with most house purchases, if you’re buying with HomeReach, putting down a larger deposit should then lower the monthly mortgage repayments. Along with the mortgage repayments, HomeReach purchasers will pay rent of 2.75% of the unsold value, paid monthly via direct debit. Over time there’s the option to buy more shares in the property, known as staircasing, with the chance to own the entire home and stop paying rent altogether.”

Adele added: “For those who don’t meet the criteria for HomeReach, Deposit Unlock offers a route to homeownership. As a company we pay into an insurance policy which reduces the risk to the lender. This means that someone with a 5% deposit should be able to access more favourable mortgage rates, usually reserved for those with more substantial savings. We can even help put buyers in touch with independent financial advisors who can guide buyers through their options to work out the best solution for them.”

The ground floor of the Ashmore is almost entirely open plan with a combined kitchen and living room helping to make the most of the space available. There’s also a convenient cloakroom.

Upstairs, both bedrooms are a good size, with the bathroom between them.

Between Edenstone Homes and Bluebell Homes, St Mary’s Garden Village offers a good range of properties.

Among those available through HomeReach are the one-bedroom Monnow style maisonette, from £185,000 or £92,500 for a 50% share, and a two-bedroom Eastbourne bungalow from £250,000 or £125,000 for a 50% share.

The new community also offers a selection of three and four-bedroom family sized houses.

Along with the new homes, St Mary’s Garden Village also features a range of community facilities including play area, wetlands, allotments, formal garden, with a community hub with bike hire and gym opening soon.

For the latest availability and pricing see, or