Fortuna opens days a big success with buyers

OUR shared ownership open days in Cirencester town centre were a big hit with first-time buyers who can't afford to buy on the open market.

They packed the Silver Street office of leading local estate agents Perry Bishop & Chambers at the weekend and were eager to find out more about Bromford's part buy-part rent scheme and our successful Fortuna development.

With 76 shared ownership buyers already moved in at Fortuna, the weekend ended with another two reservations and three holding reservations.

Those sales figures speak for themselves, according to Trish Foster, Head of Sales (South) for Bromford Homes, who described the open days as a great success. "It won't be long before shared ownership sales at Fortuna hit the 80 milestone," says Trish.

"Shared ownership clearly meets a real need among local first-time buyers and, with prices that start as low as £37,500* for a two-bed apartment and deposits as little as £1,875*, you can understand why. The principle is simple enough − instead of buying your home outright, you buy between 25% and 75% and pay low rent on the remaining share.

"But we know from experience that people have lots of questions to ask − and that's why we organised these special open days right in the heart of Cirencester's busy shopping streets. It gave other first-time buyers the chance to drop in and ask as many questions as they liked − and we're delighted that so many people took up the opportunity. It was such a success that we will probably do it again."

Answering those questions, supported by the team at Perry Bishop, was Fortuna Sales Consultant Kirsty Darby. "The response was brilliant, absolutely brilliant," says Kirsty, who signed up two reservations on the Saturday and is confident that more will follow.

"Buying your first home is such a big step and we know that in an area like Cirencester it's particularly hard for first-time buyers because property prices are relatively high and average earnings are relatively low. Many people tell us that they are unable to buy on the open market and even those on relatively good incomes say they might have to save for ten years or more to save the kind of deposits that lenders now expect.

"We know from experience that shared ownership can make a real difference for people who often feel that they are stuck in private rented housing. The part buy-part rent approach means that their deposit is generally much lower and the total monthly costs are truly affordable."

Bromford's Fortuna showhome is open Thursday-Monday 11am-4pm. Find out more on Facebook and get in touch by following us on Twitter @BromfordHomes. You can also call on 01285 640837.

*£37,500 represents a 25% share of a two-bed Fortuna apartment with a full market value of £150,000. A 5% deposit on that share would be £1,875.