Part-buy bonanza in Coventry and Warks
FIRST-TIME buyers are saying a huge YES to shared ownership in Coventry and
Warwickshire.
They've already snapped up two-thirds of the part buy-part rent
homes at Larks Rise − only a few miles from the
heart of Coventry − leaving just 13 of the 39 houses up for
grabs.
Rugby's Oaklands development is also proving to be a
winner with six shared ownership homes reserved for as little as
£38,250* since the scheme was launched with a town centre open day.
The shared ownership sales success looks set to continue, says
Bromford Homes Head of Sales Alan Bradley − and would-be
buyers in Warwickshire have another chance to make their
home-owning dream come true at newly-launched Colliers Green, New Arley, for as little
as £30,625** and deposits as low as £1,532.
"Coventry and Warwickshire is like many places these days −
property prices are often fairly high and incomes relatively low
for ordinary working people," says Alan.
"This makes it especially difficult for first-time buyers to get
on to the property ladder and yet we know from research published
by the Council of Mortgage Lenders − and from what we're told
by first-time buyers like Matt and Clare at
Larks Rise − that people still aspire to own their own
home.

"Well, the great news is that shared ownership can make that dream
come true at prices that people can afford. If you take our very
successful Larks Rise development as an example − you can get
that first foot on the property ladder here for as little as
£30,625*** with a deposit that could be as low as £1,532.
"Figures like that really help to explain why 26 of the 39
shared ownership homes here have been snapped up in a matter of
months. And it's not just the initial outlay that's cheaper with
part buy-part rent − the total monthly costs are typically lower too than if
buying outright or renting from a private landlord.
"It's no wonder then that so many first-time buyers from
Coventry and Warwickshire − and the rest of central
England − are saying such a huge YES to shared
ownership."
You can find out more about shared ownership and any of the
Bromford Homes developments by calling us on 0845 60 10
878 − or by visiting the new Larks Rise showhome,
which is open Thursday to Monday, 10am-5pm.
"There's nothing like seeing a fully furnished showhome (below)
to help bring the dream of home ownership to life − and that's
certainly true here in Coventry," says Alan.

"Of course, it's also a great opportunity to ask questions about
shared ownership and to find out more
about how it works. The principle is simple enough. You buy between
25% and 75% of a new Bromford home rather than buy outright −
the exact amount depends on your income − and pay low rent on
the remaining share.
"It's a real win-win for first-time buyers − and you don't
have to take our word for it. You've only got to talk to customers
like Matt and Clare (pictured above),
who've already moved in to their fabulous new home at Larks Rise,
to know that it really can unlock that dream of home
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 @BromfordHomes and Facebook.
* £38,250 would buy a minimum 25% share of a two-bed apartment
with a full market value of £153,000. A minimum deposit of £1,913
assumes a 95% mortgage on that minimum share.
** £30,625 would buy a minimum 25% share of a two-bed house
with a full market value of £122,500. A minimum deposit of £1,532
assumes a 95% mortgage on that minimum share. A minimum 25% share
of a three-bed home with a full market value of £137,000 is £34,250
and a minimum deposit − assuming a 95% deposit − is
£1,713.
** £30,625 would buy a minimum 25% share of a two-bed house
with a full market value of £122,500. A minimum deposit of £1,532
assumes a 95% mortgage on that minimum share.
17 June 2013