Shared ownership sales milestone at Regis Heights
MORE than half the new homes at a Rowley Regis housing
development have been sold to eager buyers before they've been
This offplan sales success at Regis Heights prompts a warning from
Bromford Head of Sales Alan Bradley to other local first-time
buyers who want to snap up really affordable shared ownership
"Don't delay or you could miss out on a really great opportunity
to get on the local housing ladder for as little as £30,000*," he
tells would-be homeowners.
"Seven of the 13 great new homes here at Regis Heights have
already been sold and that leaves just six up for grabs. At that
rate, it won't be too much longer before the rest are sold
The quick take-up by eager local buyers is matched by equally
rapid progress on the building site off Carnegie Road, Rowley Regis, where the
first home will be ready for handover by early December.
HomeBuy shared ownership
"That means our first buyers should be able to move in before
Christmas. We look forward to handing over the keys and welcoming
them to their high-quality Bromford homes," says Alan.
"They've all got great deals through our HomeBuy shared
ownership scheme, which makes homebuying possible for people
who can't afford to buy on the open market.
"It's great news for first-time buyers or anyone who's
struggling to qualify for a traditional outright sale mortgage or
to save a full deposit.
"Shared ownership means you can buy between 25% and 75% of a new
home and pay low rent on the remaining share.
"Looking at Regis Heights, you can become a proud property a
proud property owner for as little as £30,000 − enough to buy a 25%
share of a two-bed semi-detached home. And the deposit deposit
could be as little as £1,500*.
"That makes buying really affordable for anyone who struggles to
save but can still afford to buy."
New home warranty
Of the 13 homes offered for part rent-part buy, just two
three-bed houses and four two-beds remain unsold.
All homes come with a complete fitted kitchen, including oven,
hob and extractor, french doors leading to the rear garden, full
gas-fired central heating, double glazing and high-performance
insulation throughout. Front and rear gardens are turfed, there are
allocated parking spaces and the homes come with a 10-year NHBC new home
The development includes plenty of open space, including a play
area for children, and Alan describes it as family-friendly.
He's equally enthusiastic about the commuter-friendly location.
It's a short walk from the lively Rowley Regis town centre and only
two miles from junction two of the M5 − and from there the rest of
the West Midlands motorway network.
Birmingham, Wolverhampton, Walsall, and West Bromwich are all a
short drive away. You can also get around by rail from the nearby
Rowley Regis station. It's less than a mile way.
To find out more about Regis Heights call 0845
*£30,000 would buy a 25% share of a two-bed home with a full
asking price of £120,000. The deposit figure of £1,500 is based on
a 95% mortgage to pay for the 25% share.
19 October 2012