Buying your ideal retirement home doesn’t always mean paying the full market price.
Our Affordable Retirement Housing Scheme provides an alternative way to purchase selected retirement properties for just 75% of their market value, making high-quality retirement living more accessible while allowing you to retain more of your savings.
Unlike many affordable purchase or shared ownership schemes, there is no monthly rent to pay on the remaining 25%, no interest charges and no additional monthly payments relating to the remaining share.
It’s a simple, transparent way to enjoy all the benefits of our retirement community at a significantly reduced purchase price.
The scheme is straightforward. You purchase the property for 75% of its current market value, allowing you to buy your retirement home for considerably less than its full value. There is:
When the property is eventually sold, you receive all your money back*. The remaining value, including any increase in the property’s value, is retained by the development in accordance with the terms of the scheme.
This enables buyers to enjoy a substantially lower purchase price while avoiding the ongoing rental costs commonly associated with other affordable housing arrangements.
Imagine a retirement home has a market value of £150,000.
If, in the future, the property is sold for £170,000, you receive £112,500 (the amount you originally paid), while the development retains the remaining value in accordance with the terms of the scheme.
The benefit is that you were able to purchase the property for substantially less than its market value while enjoying all the advantages of living within the community.
Our scheme has been designed to make retirement living more affordable by reducing the amount you need to invest upfront.
Purchase your retirement home for just 75% of its market value, reducing the amount of capital required to move.
Unlike many shared ownership schemes, there is no monthly rent payable on the remaining share.
There are no finance costs or interest payments relating to the remaining 25%.
Your regular housing costs are limited to your normal service charge, making budgeting simpler and avoiding additional monthly payments linked to the purchase scheme.
The arrangement is easy to understand from the outset, allowing you to make an informed decision with complete confidence.
This purchase option is ideal for people who place greater value on reducing their initial purchase cost than on benefiting from future increases in property values. There is no criteria for you to meet.
It may be particularly suitable if you:
For many buyers, the opportunity to reduce the purchase price significantly outweighs the potential for future capital growth.
Homes purchased through the Affordable Retirement Housing Scheme enjoy exactly the same benefits as every other property within the development. Residents have access to:
The only difference is the way the property is purchased.
No. There is no monthly rent payable on the remaining share.
No. There are no interest charges or finance costs relating to the remaining 25%.
When the property is sold, you receive the amount you originally paid for the property. The remaining value is retained by the development in accordance with the terms of the scheme.
Yes. Residents purchasing through the scheme enjoy exactly the same facilities, services and community benefits as every other homeowner.
No. While both schemes reduce the initial purchase price, our Affordable Retirement Housing Scheme is different because there is no rent payable on the remaining share. The terms of ownership and resale are specific to this scheme and are fully explained before purchase.
We currently have two retirement properties available through our Affordable Retirement Housing Scheme. To view them, visit our properties page.
If you’d like to know whether our Affordable Retirement Housing Scheme is right for you, we’d be delighted to explain how it works and answer any questions.
Contact our friendly team today or arrange a visit to discover an affordable way to enjoy retirement living in Gravesend.
*Subject to handing back the property in a reasonable condition.
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I have been here for 5 years, I love living here, the residents and staff are great, our security guys are the best, I feel really safe and lucky to be here.
St James Oaks has changed my life. After my husband passed, I moved here and it was the best thing I did. Staff at the office are very professional and willing to help. I would recommend St James Oaks to anyone.
My moving into St James Oaks was the best thing I could have done. I have met a lot of very nice people whom I now consider my friends.
I moved to St James Oaks just over a year ago and really enjoy living here. The flats are perfect size and everyone here is really friendly with plenty of activities to join in with in the Ivy Room.
I Love living at St James Oaks, I have made many good friend and I always feel safe. The people in the office are always kind and helpful and we have many social events.
Felt like home from the first day I moved in, friendship of all residents was very welcoming, so many interesting things in the Ivy Room to go to. Security and office so helpful, a perfect place to live.