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Another slice of success for part-buy completions

IT'S been another really successful month for shared ownership sales with 23 buyers collecting the keys to an affordable new Bromford home.

This target-topping total of November completions follows an almost-equally successful October when 21 buyers saw their property-owning dream come true.

And the sales bonanza looks set to continue into December as would-be homeowners on lower incomes keep saying YES to shared ownership, with prices that can be as little as £48,000* and deposits that can be just £2,400* for a typical 40% share.

Bromford Homes Head of Sales Alan Bradley is delighted to see so many people taking their first step onto the property ladder − and promises that he and his sales and marketing team will pull out all the stops to help more shared ownership buyers move in by Christmas.

Joint buyers eat pizza

"It's a tricky time for all would-be buyers right now with property prices going up and many fearing that they will have no other choice than to rent from private landlords," says Alan.

"Well, these figures prove that shared ownership continues to make the property dream come true for hundreds of first-time buyers on lower incomes and other people who can't afford to buy a home on the open market.

"Our part-buy, part-rent formula − also known as shared ownership − offers them a more affordable and more secure alternative to what's become known as Generation Rent.

"We're delighted that people keep saying such an enthusiastic yes to shared ownership and that over the last couple of months we've seen well over 40 buyers settle into a home they can call their own at developments such as The Beeches in Birmingham.

"This surge of completions looks set to continue well into December and we will do everything we can to help ensure that, wherever possible, our shared ownership buyers will be able to collect the keys to their new Bromford home in time to celebrate Christmas there."

* The £48,000 figure quoted by Alan would be enough to buy a typical 40% share of a two-bed house at The Beeches, Northfield, and the deposit could be as little as £2,400 assuming you've got a 95% mortgage on what you buy. Buyer shares vary from the 25% minimum up to a maximum of 75%, with around 40% being the average, and low rent payable on the remaining share.

To find out more about shared ownership and Bromford developments across central England call 0845 60 10 878 or register for updates. You can also keep in touch by following us on Twitter and Facebook.

02 December 2013