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Demo home open day welcome at The Beeches

FIRST-TIME buyers in Birmingham are invited to see for themselves this weekend why we say our shared ownership homes at The Beeches are BIG on living space and BIG on value.

We're rolling out the welcome mat on Saturday (June 1) with the opening of a demonstration home at Northfield, Birmingham, that gives would-be homeowners a chance to check out the exceptional build quality and room sizes.

They can also take the chance to sit down with a property expert to talk about how our part buy-part rent deal works and how it can unlock the home of their dreams for as little as £30,000*.

Visitors are welcome from 10am to 3.45pm on the corner plot where Merritt's Brook Lane meets Basil Road on the Frankley reservoir side of Northfield − and you don't have to book an appointment.

Beeches be quick

Four of the 12 two and three-bed shared ownership homes have now been reserved and Bromford Homes Head of Sales Alan Bradley is confident that more sales will follow once first-time buyers and other people who can't afford to buy on the open market have had the chance to see what The Beeches has to offer.

He urges would-be buyers to come along at the weekend, saying: "If you want to get on the property ladder in south Birmingham, there's no better place and no better way. Shared ownership is probably the most affordable way for buyers to realise their dream of home ownership − and The Beeches offers room sizes that are exceptional for a starter home and ideal for anyone who is maybe thinking of starting a family and can grow into their new home without having to move on a few years time.

"Our colleagues from estate agents Connells will be there with a warm welcome and really look forward to meeting anyone from Birmingham who wants to come along and find out more about how truly affordable it is to get a great new home with Help to Buy shared ownership."

Prices start from as little as £30,000* for a two-bed Frankley semi with a deposit that could be as low as £1,500* − and £34,875** is the starting price for a three-bed Bartley home with deposits starting at £1,744**. The other three-bed style, Merecroft, costs slightly more, with prices starting from £36,250***.

"With shared ownership, you buy between 25% and 75% of a great new Bromford home and pay low rent on the remaining share rather than buy outright. It really is as simple as that," explains Alan. "It's a great way for first-time buyers to get on the property ladder − especially anyone who thinks they are stuck in private rented housing or will have to save for years to raise the kind of deposit that lenders demand for outright sale."

* This example is based on a property price of £120,000. A 25% share would cost £30,000 and a 5% deposit on that would be £1,500. ** Based on a property price of £139,500. A 25% share would cost £34,875 and a 5% deposit on that would be £1,744. 
*** £36,250 represents a 25% share of a three-bed terraced house with a full value of £145,00. A deposit figure of £1,813 assumes the buyer has a 95% mortgage.

First-time buyers can find out more about The Beeches and shared ownership by calling us on 0845 60 10 878 or Connells on 0121 426 2800. You can also follow us on Twitter @BromfordHomes and Facebook.

31 May 2013