Contact Sales Team

0800 085 2499

Request a viewing


Plot 7

Ways to buy

Details of ways we can help you buy your first or next home

View all ways to buy

Affordable hope for Northants first-time buyers

THE DREAM of home ownership could come true for dozens of first-time buyers in Northamptonshire − and for as little as £32,488*.

That's enough to buy you a minimum 25% share of a two-bed shared ownership home at Middlemore Heights, Daventry, with a deposit that could be as low as £1,625*.

And that's not all. First-time buyers have three more opportunities to get onto the property ladder in the county − at Middleton Chase in Middleton Cheney, near Banbury, and two sites near Towcester, Roman View in Greens Norton and Tove Grange in Belle Baulk.

You can buy the last remaining three-bed home at Middleton Chase for as little as £53,750** with our part-buy, part-rent deal and the final three-bed at Roman View is going for as little as £48,750***. Two-bed homes at Tove Grange can be snapped up for as little as £46,250****.

Bromford Homes Head of Sales urges local first-time buyers to grab these great opportunities while they can. "Northamptonshire is like many places these days − property prices are often fairly high and incomes relatively low for ordinary working people," says Alan.

midd73
 
"This is especially true of attractive, rural, sought-after places like Middleton Cheney (pictured above) or Towcester in the south of the county, where it's especially difficult for first-time buyers to get on to the property ladder.

"We know from research published by the Council of Mortgage Lenders that people still aspire to own their own home − and shared ownership can make that dream come true at prices that people can afford.

"It's a truly affordable solution for people who can't afford to buy on the open market − and that includes a growing number of people who, before the credit crunch, would probably have been able to buy a first home the traditional way. People who can have a combined household income of up to £60,000 and still qualify for part-buy."

With shared ownership, buyers purchase between 25% and 75% of a new Bromford home rather than buy outright − the exact amount depends on their income − and pay low rent on the remaining share.
 
"It's a real win-win for first-time buyers. The initial outlay is much lower − with deposits as low as £1,625* for an example like our two-bed homes (pictured below) at Middlemore Heights or £2,313 at Tove Grange rather than the tens of thousands that lenders typically require for outright sale. And the total monthly costs are typically lower too than if buying outright or renting from a private landlord," says Alan.
 
"It's no wonder then that so many first-time buyers from Northamptonshire − and the rest of central England − are saying a big YES to shared ownership."

Braunston

To find out more about shared ownership and opportunities to buy in your area, call 0845 60 10 878 and talk to one of our experts. You can also register for updates or follow us on Twitter and Facebook.

* £32,488 would buy a minimum 25% share of a two-bed house with a full market value of £129,950. A deposit of £1,625 assumes a 95% mortgage on that minimum share.

** £53,750 would buy a minimum 25% share of a three-bed house with a full market value of £215,000. Assuming a 95% mortgage on that minimum share, the deposit would be £2,688.
 
*** £48,750 would buy a minimum 25% share of a three-bed house with a full market value of £195,000. Assuming a 95% mortgage on that minimum share, the deposit would be £2,438.
 
**** £46,250 would buy a minimum 25% share of a three-bed house with a full market value of £185,000. Assuming a 95% mortgage on that minimum share, the deposit would be £2,313.

02 July 2013