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
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
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
"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
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
"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."
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.
02 July 2013
* £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.