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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.

Joint buyers gaming

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."

Joint buyers eat pizza
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 £3,000**.

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.
** £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.

23 August 2013