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Unlocking dreams as Larks Rise buyers move in

ALMOST a third of our part-buy homes at Larks Rise, Coventry, have been handed over to buyers − and another four customers are set to collect their keys before the end of July.

That will bring the total number of Help to Buy shared ownership completions to 16, with another 17 homes reserved − mostly by first-time buyers − and just six houses still up for grabs for as little as £30,625*.

As a result, Larks Rise is being hailed as one of our fastest-selling developments and "concrete proof that shared ownership is meeting a huge need for frustrated first-time buyers" and other people who can't afford to buy on the open market.

That's how Bromford Homes Head of Sales Alan Bradley sums it up after a whirlwind four months since the two and three-bedroom part-buy homes were launched with a city centre open day in March. "It's great to see the home-owning dream come true for so many first-time buyers − people like Matt and Clare, who've come forward since moving in at Larks Rise to tell us that shared ownership made all the difference and recommend it without hesitation,'" he says.

Larks Rise Matt and Clare

"We know how hard it can be for customers like them to get on the property ladder and seeing them collect the keys to a new Bromford home is one of the most satisfying parts of our job.
 
"Shared ownership really does make it affordable to get that first foot on the property ladder and the fact that we've already sold 33 of the 39 part-buy homes being built here at Coventry is concrete proof that shared ownership meets a huge need for frustrated first-time buyers at prices they can afford."
 
Alan points to the one remaining two-bed terraced houses at Larks Rise which can be bought through Help to Buy shared ownership for as little as £30,625* if you're a buyer that qualifies for a minimum 25% share − with a deposit that could be as low as £1,532*. Prices for a three-bed house like the showhome (pictured below) are only slightly higher − starting at £36,875** for a minimum 25% share and a deposit that could be as little as £1,844**.

Larks Rise showhome lounge
 
"With shared ownership, you buy between 25% and 75% of your home and pay low rent on the remaining share. It's as simple as that," says Alan. "The initial costs are so much more affordable for people who can't afford to buy their first home on the open market − and so are the monthly costs."
 
* £30,625 represents a minimum 25% share of a two-bed house costing £122,500 and a £1,532 deposit is based on a 95% mortgage.
** £36,875 represents a minimum 25% share of a three-bed house costing £147,500 and a £1,844 deposit is based on a 95% mortgage.
 
Coventry and Warwickshire homehunters can register their interest and find out more about Larks Rise and Help to Buy shared ownership by talking to a sales consultant on 0845 60 10 878. You can also keep track by following us on Twitter @BromfordHomes and Facebook

17 July 2013