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‘Be quick or miss out’ at The Beeches

FIRST-TIME buyers are snapping up the chance to get on the property ladder at The Beeches in Northfield.

Although construction has only just started, 11 would-be homeowners have already applied to buy the 12 high-quality homes through Bromford's HomeBuy shared ownership scheme.

Interest is so strong that Bromford Homes Head of Sales (North) Alan Bradley urges other customers to be quick or risk missing out on what he describes as one of the best opportunities for first-time buyers in south Birmingham.

"You can buy a top-quality home here at The Beeches for as little as £30,000 through shared ownership and the deposit could be as low as £1,500," says Alan.

"So I'm not surprised that we've had such a strong response from people who realise this is a really affordable way to get on to the property ladder.

"My advice to anyone else who's interested in buying at The Beeches is to be quick and make sure you don't miss out on this great opportunity to make your home ownership dream come true."
Buyers can find out more about The Beeches and how shared ownership works by calling 0845 60 10 878.

How HomeBuy works

HomeBuy allows customers to purchase between 25% and 75% of their new home and pay a low rent on the remaining share.

Alan points to the two-bed Frankley semi as an example − it's on sale through HomeBuy for as little as £30,000*. Prices for a two-bed end-of-terrace Farley home at The Beeches are slightly higher, starting from £33,125.

A three-bed terraced Merecroft home is on sale at a starting price of £36,250** with deposits as low as £1,813, and prices for a three-bed Bartley house start from £34,875.

Save and Build offer

"The deposit on a two-bed Frankley could be as low as £1,500* − and if you take up our Save and Build offer you can reserve the home you want right now − even if you don't have the deposit," says Alan.

"All you have to do is choose and secure the plot of your choice. Then you save between now and the summer, when construction is due to finish, until you've hit your saving target.

"Even without the Save and Build offer, shared ownership is one of the most affordable ways to buy your home.

"In fact, we do everything we can to make sure that the deal is truly affordable for buyers − whether they are buying a 25 per cent share or anything up to the 75 per cent maximum."

* This example is based on a property price of £120,000. A 25 per cent share would cost £30,000 and a five per cent deposit on that would be £1,500.
** £36,250 represents a 25 per cent share of a three-bed terraced house with a full value of £145,00. A deposit figure of £1,813 assumes the buyer has a 95 per cent mortgage.

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22 January 2013