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22nd April 2008

David Cameron visits Chester to see how Muir Group makes home ownership affordable for local people

Tuesday 22 April 2008 David Cameron, the Leader of the Conservative Party, was “genuinely interested” in the possibilities of shared ownership, according to residents whom he met on Thursday 17 April while visiting a shared ownership scheme in Chester managed by local housing association Muir Group.

The residents of Racecourse Apartments, a new waterside development in the heart of Chester built by David McLean Homes, told him how Muir Group’s shared ownership scheme in part of the development had made it possible for them to buy their own home.

Resident Alice Frost, 24, told David Cameron that shared ownership was her only chance to buy her own home, saying:

“As a first time buyer I could not afford to buy a flat outright. I just wouldn’t have got a mortgage for the amount I needed. What’s more, the location here is ideal for me because I work at the Countess of Chester hospital which is very near.”

Fellow residents Gary Turner, 46, and Richard Jenkins, 30, also said that the Conservative Party leader was interested in hearing how Muir Group’s shared ownership scheme had helped them out of their housing difficulties. Richard was a first-time buyer, while Gary was looking for an affordable way back onto the property ladder following a divorce.

Muir Group, a Chester-based not-for-profit housing association, has worked in partnership with Chester City Council and David McLean Homes to offer nearly half of the 190 flats in Racecourse Apartments for shared ownership.

Muir Group’s chief executive officer John Bellis, said:

“We are delighted that David Cameron chose to visit a Muir Group scheme to find out more about shared ownership as an affordable route to home ownership. The credit squeeze is putting even more pressure on younger people and first time buyers, making it even harder for them to buy their own home.

“We feel that Muir Group shared ownership schemes such as Racecourse Apartments offer first time buyers a real opportunity and we are very pleased that David Cameron was able to find out at first hand how the scheme can help bring home ownership within the reach of local people.”

A spokesperson from David Cameron’s office added:

“The purpose of David Cameron’s visit last week was to discuss the cost of living, affordable housing and the difficulties that young people face to get onto the housing ladder. He was delighted to visit the project and very much enjoyed meeting with the residents who have benefited from it. He very much hopes to see further affordable housing projects set up throughout the country.”

David McLean Homes North West Managing Director Paul Halliwell commented:

“David McLean Homes takes great pride in its work in helping first time buyers get an important foot on the ladder, and the shared ownership project here at the Racecourse demonstrates our commitment to that.We have had a huge amount of interest in this development and we are delighted to have been part of such a worthwhile and successful scheme.”

Affordable for first time buyers Shared ownership lets first time buyers buy half their home while renting the other half, bringing previously unaffordable apartments within the budget of would-be home owners on lower incomes.

Muir Group has helped hundreds of first time buyers to take their first step on the property ladder.

33 of the shared ownership flats in Racecourse Apartments have already been sold, mostly to first time buyers. Demand for schemes like Racecourse is high: there are 71 would-be home owners on waiting lists for Muir’s shared ownership homes in the Chester area alone.

The prestigious Racecourse development includes a riverside restaurant and has views over the River Dee and Chester racecourse. It is within a short walk of the city centre’s renowned restaurants, bars and shops.