Young families can also escape the ‘rent trap’

By continuing to build affordable housing, Gleeson allows young families to escape the rent trap and purchase their own home.

 

Like many first-time parents, Katie Macmahon and Neil Tennant believed their dreams of home ownership would have to take a backseat as they prioritised raising their baby son Archie.

Neil, a Telecommunications Engineer, and Katie, a Community Staff Nurse, were brought up just a five-minute drive from Gleeson’s Canal Walk development in Hapton, Lancashire. Despite setting their hearts on buying their own home after renting for over four years, the young couple believed that they would struggle to save for a deposit.

Katie, 26, explains, “I was first drawn to Canal Walk because of its location; it’s close to the canal and is just a 15-minute walk into Burnley town centre. I had previously visited another housebuilder’s development, but I was not impressed with the types of homes they had available. I definitely set my sights on buying a new build property as I wanted a blank canvas, but was unsure whether we would ever be able to afford one”.

After viewing a show home at Gleeson’s nearby Oswald Park development, and discussing affordability and borrowing with the Sales Negotiator and a specialist mortgage lender, the couple began saving in earnest for the 5% deposit required to purchase their Canal Walk home.

In June 2019, Katie and Neil were elated to receive the keys to the door of their own home, completing their first-time buyer journey. “We just love it here”, says Katie.

“We enjoy walks and bike rides on the canal and have lots of amenities nearby, including a choice of two schools for Archie. We have a large supermarket close-by, as well as a pub/restaurant just a little further down the canal. All our neighbours are incredibly friendly and there is a nice community-feel to the development. We even have a WhatsApp group that we constantly chat on! The development feels very safe and if there was any criminal activity, we’re able to log disturbances on the YourWatch portal, which allows us to share information anonymously with other residents”.

 

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