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Shared ownership open day for Rugby buyers

FIRST-TIME buyers in Rugby can quiz the experts at a special Bromford Homes open day − and find out how shared ownership can make their property-owning dream come true for much less than they thought.

They're invited to meet the Bromford sales team on Saturday (May 18) at the Rugby town centre offices of Connells estate agents, from 11am to 4pm.

Visitors can find out more about our Oaklands development of two and three-bed homes on the northern side of Rugby, where prices start from £33,750* and deposits could be as little as £1,688 − and more about how shared ownership works.

Bromford Homes Head of Sales (North) Alan Bradley urges local first-time buyers to drop in at Regent Street, Rugby, and ask as many questions as they like in a free, friendly and informal atmosphere.

"We'll be there to explain how shared ownership works and how easily it can unlock the door to the home of your dreams for much less than you might expect and certainly less than it costs to rent privately," says Alan.

"Shared ownership has made the homebuying dream come true for hundreds of people who couldn't afford the huge deposits and monthly payments that come with buying on the open market.

"But we know that not everyone understands how it works. That's why we decided to hold this open day so that first-time buyers from the Rugby area can drop in and find out more about shared ownership and what they can get for as little as £33,750*."

Making home ownership truly affordable

That will buy a minimum 25% share of a two-bed Sanderling house at Oaklands, Crackthorn Drive, with a 5% deposit on that share costing as little as £1,688*. Starting prices for a three-bed Dunnock house are £44,875, with a 5% deposit costing a little as £2,243**.

"Prices like that make home ownership truly affordable for people who can't afford to buy on the open market − especially in an area like Rugby where property prices are relatively high and average earnings struggle to keep up," says Alan.

"Shared ownership allows the first-time buyer to purchase between 25% and 75% of a new home and pay a low monthly rent on the remaining share − it's as simple as that. We do everything we can to make sure that the part buy-part rent deal is truly affordable for buyers − whether they are buying a 25% share or anything up to the 75% maximum.

"At the end of the day, they get a traditional-looking energy-efficient home built by premium developer David Wilson Homes with smart, contemporary kitchens and bathrooms for less each month than they would typically pay a private landlord or to buy outright."

Want to know more about Oaklands, shared ownership and our open day? Call 0845 60 10 878 or register for updates. You can also follow us on Twitter @BromfordHomes or on Facebook.

* £33,750 buys a 25% share of a two-bed home with a total asking price of £135,000 and a deposit could be as little as £1,688 based on a 95% mortgage. ** £44,875 buys 25% of the total £179,500 asking price for a three-bed home and the deposit would be £2,244 based on a 95% mortgage.

13 May 2013