First-time buyers explain part-buy in video
FIRST-TIME buyers Matt McIntyre and Clare McLaughlin reveal how
shared ownership made their home
ownership dream come true in our latest Bromford Homes video.
The couple explain everything from why they wanted to take their
first step on to the property ladder to how the part-buy, part-rent
route made it possible for them to purchase just over 50% of their
two-bed house at Larks Rise, Coventry.
They explain the basics of how shared ownership works, how you can
increase your share − known as "staircasing" − at a later
date... and lots more, all in little more than three minutes.
It's an easy way for other first-time buyers to find out about
what Bromford Homes Sales and Marketing Director Bev Hall describes
as "one of the best-kept secrets in the property world".
"Shared ownership is essentially a simple concept − you buy
between 25% and 75% or your new Bromford home and pay low rent on
the remaining share," says Bev.
"But explaining it − and some of the details − is not
always that straightforward. That's why we commissioned this great
new video from our colleagues in the Bromford communications team
so that other potential first-time buyers like Matt and Clare
(pictured below) can understand how it works and how it can make
their dreams come true as well.
"Matt and Clare have done a brilliant job and it's all very
natural and authentic. We sat down with them in the living room of
their Larks Rise home, asked them about a dozen questions over the
course of an hour and filmed their responses.
"Handing over the keys to a new Bromford home and seeing a
hard-working couple like Matt and Clare settle in and start
enjoying this exciting new chapter in their lives is one of the
most rewarding parts of our job − and I think this comes over
in the movie."
Matt and Clare, a 31-year-old care assistant, were happy to help
with the filming a few months after "leaving the family nests" and
making the big move.
"We wanted to set up home together and to buy our own house
rather than rent. Like a lot of people, I think paying rent is dead
money," says 28-year-old Matt, a double glazier and locksmith.
"We looked at buying on the open market but couldn't get a big
enough mortgage even though we both work full time because at the
time Clare was an agency worker. Then someone suggested shared
ownership − and we ended up buying just over 50% of a new home
here at Larks Rise.
"We're really pleased to get this first step on to the property
ladder and hope to increase the share we own at a later date.
Shared ownership really does make owning your own home affordable
if you find you can't buy on the open market. We would certainly
recommend it − and Bromford Homes − to other first-time
First-time buyers have just a few more more chances to get on the
property ladder at our fast-selling Larks Rise development in
Coventry. We've sold most of the 39 houses in four months, leaving
just one two-bed home for as little as £30,625* and four three-bed
houses, including our stylish showhome.
You can buy a three-bed home for as little as £36,875** through
part-buy and a deposit that could be as low as £1,844. The showhome
could be yours − including carpets, curtains, light fittings
and pictures − for an additional payment of £4,500. You can
find out more about shared ownership and any of the Bromford Homes
developments by calling us on 0845 60 10 878.
* £30,625 would buy a minimum 25% share of a two-bed house with
a full market value of £122,500. A minimum deposit of £1,532
assumes a 95% mortgage on that minimum share. £36,875 would buy a
minimum 25% share of a three-bed house with a full market value of
£147,500. A minimum deposit of £1,844 assumes a 95% mortgage on
that minimum share.
29 August 2013