Final five prompt call to first-time buyers in Forest
THE CLOCK is ticking for first-time buyers who want to put down
roots with an Oakdale home of their own at leafy Lydney in
the Forest of Dean.
A steady stream of shared ownership sales at our landmark
development on the edge of this bustling market town means we've
got just five homes left at prices that start at £31,750* with a
deposit that could be as low as £1,588*.
With yet another "reserved" sign just about to go up, Bromford
Homes Head of Sales (South) Trish Foster has timely advice for
anyone else who wants to realise their home ownership dream.
"Don't delay," says Trish. "This is a good time to buy −
especially if you feel like you're stuck living in private rented
housing, want to get on the property ladder but have either been
putting off the decision or think that you won't qualify for shared
"Many people think − wrongly − that you have to be a key worker
or on a really low income to qualify. That's not the case. It might
surprise you to know that your family income can be as high as
"What's more, the mortgage market is starting to improve, more
home loans are being granted and the number of first-time buyers is
at a post crunch high**.
How shared ownership makes a difference
"No one would pretend that the current market is easy for
first-time buyers. Credit remains tight and lenders still require
large deposits. That's why so many first-time buyers rely on
borrowing from the Bank
of Mum and Dad or face many years of hard saving.
"That's where shared ownership makes a real difference. Instead
of buying outright, you purchase between 25% and 75% and pay rent
on the remaining share. The amount you buy depends on what you can
afford − a typical share being around 40 or 45% − and, of course,
you can increase the share you own as time goes by. It really is as
simple as that.
"It's made the difference for hundreds of Bromford homebuyers,
including a lot of people who can't borrow from family or friend
and people who, before the credit crunch, would certainly have
expected to buy outright."
The news gets even better for aspiring homeowners, says Trish.
If you buy one of our three-bedroom Leighfield homes we'll give you
free carpets and help with moving costs. She encourages buyers to
call, register their interest or visit the showhome and sales suite
at Par Four Lane.
Why customers love Oakdale homes
"Visiting Oakdale gives you a chance to see why customers who've
already bought here love the homes, they love the location and they
love the prices," says Trish.
"With shared ownership, you can buy a three-bed Leighfield home
for as little as £38,250*. We do everything we can to make sure
that the HomeBuy deal is truly affordable for buyers − whether they
are buying a 25 per cent share or anything up to the 75 per cent
"At the end of the day, buyers get a traditionally-built,
energy-efficient home built for ease of maintenance at a really
Bromford's Oakdale showhome is open from Thursday to Monday
between 10am and 5pm. Call 01594 845369 to find
* £31,750 buys a minimum 25 per cent of the total £127,000
asking price for a two-bed home and the deposit would be £1,588
based on a 95 per cent mortgage, while £38,250 buys 25 per cent of
a three-bed home with a full asking price of £153,000. Buyers pay a
monthly fee − lower than the equivalent open market rent − on the
** The improving mortgage market is highlighted by the Council
of Mortgage Lenders in its January bulletin with "ten snapshots"
including evidence that lenders are doing more to help those who
want to buy and a four-year high in the number of first-time
28 February 2013