£1,500 to get on property ladder at Beeches
WOULD-BE homebuyers are being offered an ultra-affordable chance
to get on to the property ladder in Birmingham's Northfield
That opportunity is coming in the shape of a dozen two and
three-bedroom houses that are being built by the award-winning
in-house construction team at affordable housing specialist
Deposits for these high-quality homes − four three-bedroom
houses and eight two-beds − will be as little as £1,500* through
Bromford's HomeBuy shared ownership scheme.
It's a part rent/part buy deal that enables aspiring homebuyers
to get into property ownership without having to save a huge
deposit or to apply for a wallet-busting mortgage.
Building work is set to begin at The Beeches by the end of
November and Bromford Homes Head of Sales Alan Bradley urges local
buyers to act quickly if they want to reserve a particular
"These homes are ideal for first-time buyers who want to leave
behind the uncertainties of renting and enjoy the benefits of home
ownership but don't have the five or ten per cent deposit needed to
buy outright," said Alan.
"Shared ownership really does offer people who couldn't
otherwise afford to buy a chance to get on the property ladder. In
this case, prices are expected to start from around £120,000 for a
two-bed house − so a 25 per cent share would cost just £30,000 and
a five per cent deposit just £1,500.
"We do everything we can to make sure that the deal is truly
affordable for buyers − whether they are buying a 25 per cent share
or anything up to the 75 per cent maximum.
"At the end of the day, buyers get a traditionally-built,
energy-efficient home built for ease of maintenance at a really
"What's more, our price includes a lot of features that buyers
might have to pay for as extras elsewhere. Things like turfed front
and back gardens, full screen fencing, and quality kitchens.
The contemporary-looking brick homes will take shape on a corner
plot where Merritt's Brook Lane meets Basil Road on the Frankley
reservoir side of Northfield in south Birmingham.
It's a family-friendly spot, with a good choice of local primary
schools and local shops on the other side of Merritt's Brook Lane.
Northfield Health Centre and a Sainsbury's supermarket are little
more than half a mile way and Northfield centre roughly a mile.
It costs just £500 to reserve a plot at The Beeches and prices
will be confirmed soon. To find out more about buying call
0845 60 10 878
* Our example is based on an expected property price of
£120,000. A 25 per cent share would cost £30,000 and a five per
cent deposit on that would be £1,500.
18 September 2012