Dream opportunities for Brum’s first-time buyers
BIRMINGHAM'S first-time buyers are being offered a really
affordable chance to make their home ownership dream come
true − thanks to Bromford Homes.
They can buy one of Bromford's 11 remaining shared ownership
homes at The Beeches, Merrit's Brook Lane,
Northfield, for as little as £30,000* and the deposit could be as
low as £1,500*.
On the other side of the city centre, in Erdington, first-time
buyers have snapped up all but one of the shared ownership homes at
Bromford's Hardintone Court development, off
Goosemoor Lane. That last two-bed house − within easy reach of
the M6 and Birmingham city centre − is waiting to be claimed
for as little as £30,625** and the deposit could be as low as
"Those figures make it really affordable for first-time buyers
who want to get their foot on the property ladder," explains
Bromford Homes Head of Sales (North) Alan Bradley.
"That's why shared ownership is such great news for people who
can afford all the monthly payments but struggle to save the tens
of thousands that lenders require in deposit for outright sale.
"With Bromford's HomeBuy shared ownership, you buy
between 25% and 75% of your home and pay low rent on the rest. It's
a great way to get into the home-buying market and need not cost
more each month than renting from a private landlord."
Prices start at £30,000* for a two-bed Frankley semi at The
Beeches, with a two-bed end-of-terrace Farley home starting at
£33,125 and three-bed Bartley house starting at £34,875. Prices for
a three-bed Merecroft home are slightly higher, starting from
The fair pricing and convenient, family-friendly location in
south Birmingham mean that homes at The Beeches are proving popular
with local homebuyers and Alan urges local first-time buyers to act
quickly if they want to reserve a particular plot.
*This example is based on a property price of £120,000. A 25%
share costs £30,000 and a 5% deposit on that is £1,500.
** Based on property price of £145,000. A 25% share is £36,250 and
a 5% deposit is £1,813.
** Based on property price of £122,500. A 25% share is £30,625 and
a 5% deposit is £1,532.
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15 March 2013