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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 built.

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 deals.

"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 too."

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 warranty.

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 6010878.

*£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