Game-on for Cirencester solo pads with part-buy
LIVING at home or in a rented room in or around Cirencester?
Fancy a pad of your own but worried that, even though you're
working full time, you can't afford to take that first step onto
the property ladder?
Then think again, says Bromford Homes Sales and Marketing
Director Bev Hall, in an upbeat message to potential first-time
buyers who can't save enough for a deposit on the open market or
earn enough to qualify for an outright sale mortgage.
Yes, it's "game-on" for singletons who want their own Fortuna apartment close to the heart of
Cirencester − a place they can call their own and do
everything from entertain friends with a home-cooked meal to
late-night sessions on the PlayStation.
The secret is our popular part-buy deal − also known as shared ownership − where you
purchase between 25% and 75% of your home and pay low rent on the
remaining share. Prices start from around £31,250* for a one-bed
apartment at Fortuna in Cirencester and your deposit could be as
low as around £1,563*.
"Prices like this highlight why part-buy is such a success here
in the Capital of the Cotswolds. It's helped more than 90
singletons, couples and families to get on the property
ladder − and at prices they can truly afford," says Bev.
"Now we want to make sure that this message has reached other
young buyers who work full-time but believe that buying their own
home is beyond their reach in a relatively pricy place like the
Capital of the Cotswolds.
"If you fancy a pad of your own − or possibly want to buddy
up with a friend − buying through Help to Buy share ownership
could be a truly affordable alternative to living at home with your
parents or renting from a private landlord.
"In a nutshell, shared ownership can make the dream come true
for young people and other aspiring home-owners who are simply
priced out of the open market. As long as you don't already have a
mortgage and your combined household income isn't more than £60,000
a year, you could qualify."
The part-buy deal means you can get a two-bed apartment at
Fortuna's Quiritus House for as little as
£37,500** at Fortuna and your deposit could be as little as
£1,875**. That's enough to buy a minimum 25% share while a more
typical 40% share would cost £60,000** and the deposit as little as
Compare those figures with the average deposit of £32,209 quoted
by the National Housing Federation*** for first-time buyers in the
South West, says Bev, and the fact that typical monthly costs for
part-buy are cheaper than private renting.
"It all adds up to a really affordable how of getting a home of
your own − and yet we're constantly amazed by how many young
buyers don't know about shared ownership or how it works," says
Bev. "We hope more young people will say 'yes' to shared
ownership and enjoy the freedom of owning their own
home − whether they want to kick back and relax, entertain
their mates with a takeaway or try their hand at cooking in one of
our well-appointed kitchens."
To find out more about shared ownership and
our Fortuna apartments, call us on 01285
640837. You call also register for
updates and follow us on Twitter and Facebook.
* £31,250 represents a minimum 25% share of a one-bed apartment
with a market value of £125,000. The deposit, based on a customer
borrowing 95%, would be £1,563.
23 August 2013
** £37,500 represents a minimum 25% share of a two-bed apartment
with a market value of £125,000 and the deposit, based on a
customer borrowing 95%, would be £1,563. A typical 40% share of a
two-bed apartment with a market value of £122,500 would be
£60,000 and the deposit, based on a customer borrowing 95%,
would be £3,000.
*** Figures quoted by the National Housing Federation during
Shared Ownership Week 2013.