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Open day for Brum first-time buyers

FIRST-TIME BUYERS are being offered a warm welcome at the weekend − and a chance to find out how shared ownership can unlock the home of their dreams for as little as £30,000*.

The offer comes with an invitation to attend our special open day to promote The Beeches in Northfield, south Birmingham, where 12 top-quality part buy-part rent homes are taking shape.

Would-be buyers are being offered the chance to sit down with a Bromford Homes sales consultant at Connells estate agents, 158 High Street, Harborne, on Saturday (May 11) and get expert answers to all their questions about shared ownership and opportunities to buy at The Beeches. They can also quiz an independent mortgage advisor about any home loan-related issues.

Bromford Homes Head of Sales (North) Alan Bradley urges would-be buyers to come along. "If you want to get on the property ladder in south Birmingham, there's no better place and no better way," he tells first-time buyers and other people who can't afford to buy on the open market.

"Shared ownership is probably the most affordable way for buyers to realise their dream of home ownership − and yet in many ways it's one of the property world's best-kept secrets.

"That's why we decided to hold this special open day. We'll be there with a warm welcome  to explain how shared ownership works and how easily it can unlock the door to the home of your dreams for the same or even less than it costs to rent privately."

Would-be buyers can just turn up on the day or can book an appointment on 0845 60 10 878 so they don't miss out on the chance to meet the experts. "We'll be there from 10am until 4pm 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," says Alan.

Beeches be quick

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***.

Room sizes are exceptional for a new-build, says Sales Consultant Harj Bahia, who will welcome would-be buyers in Harborne High Street on Saturday. Another plus point he highlights is the one-way drive that wraps around The Beeches site on two sides, so that the homes and parking spaces are set back from the street.

"With completion scheduled for the summer, it's a prime opportunity for first-time buyers to get on the property ladder through Bromford's part buy-part rent scheme," says Harj.
"Instead of buying outright, you buy between 25% and 75% of a great new Bromford home and pay low rent on the remaining share. It really is as simple as that.

"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.

"All in all, it adds up to an exceptional package − and my advice to any local first-time buyers is to make the most of our open day, ask all the questions you want and make sure you don't miss out on this great opportunity to make your home ownership dream come true."

* 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.

06 May 2013