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Launch for 19 shared ownership sites

BROMFORD Homes is starting 2013 with a bumper programme of shared ownership sites that will help to meet pent-up demand from first-time buyers.

The next few months  will see the launch of 19 new developments offering an affordable range of two and three-bedroom houses across the West Midlands and South West.

They range in size from smaller schemes like St James Mews in Dudley with just four homes to those like Colliers Green, New Arley, where 20 shared ownership homes are being built.

It adds up to hundreds of new homes in all with prices that start from as low as around £30,000 for a mimimum 25% share through Bromford's HomeBuy shared ownership scheme.

Great time to get on property ladder

According to Bromford Homes Sales and Marketing Director Bev Hall, it's a great time to get on the property ladder. "From Coventry to Cheltenham, Towcester to Tansey Green − we've got exciting opportunities for first-time buyers across central England," says Bev.

"We know that many people want to leave behind the uncertainties of private rented housing and take their first step on the property ladder. And we know how hard − or even impossible − it is for many first-time buyers to save the big deposits that lenders require.

"The great news is that shared ownership can make your home ownership dream come true − and for much less than you might think. In most cases, it's cheaper than renting privately. So my advice to first-time buyers is to give us a call and find out more. You'll be pleasantly surprised how affordable shared ownership can be."

Deposit as low as £1,532

Bev points to one example − The Alders in Woverhampton, where you can buy a minumum 25% share for £30,625* and your deposit could be as little as £1,532.

"That's a fraction of what it would cost to buy outright," Bev tells local first-time buyers. "We work with you to decide how much you can afford to buy − from 25% up to 75% − and you pay rent on the remaining share. It's as easy as that."

*This example is based on a property price of £122,500. A minimum 25 per cent share would cost £30,625 and a five per cent deposit on that would be £1,532. There are three more Bromford homes at The Alders − one priced at £127,500 (or £31,875 for 25%) and two houses at £130,000 (or £32,500 for 25%).

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07 January 2013