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Shared ownership sales top target

MORE than 20 shared ownership buyers have collected the keys to a new Bromford house or apartment in little more than a month − and seen their property dream come true with plenty of time to celebrate their first Christmas in a home they can call their own.

The target-topping total of 21 completed sales by the end of last week is highlighted by Bromford Homes Head of Sales Alan Bradley as further proof of the strong need for affordable houses and apartments across central England.

Affordable deposits and affordable monthly costs are the main reason, he says, why first-time buyers and other people on lower incomes are saying such an enthusiastic YES to shared ownership.

"Our part-buy, part-rent formula makes all the difference to people who want a home they can call their own but can't afford the hefty deposits that mortgage lenders generally require for outright sale," says Alan.

"Many of them are stuck living with family or friends or feel they have no other choice but to rent from private landlords − part of what's now known as Generation Rent.

"Well, it doesn't have to be that way and we've got just over 20 different customer stories this month to prove it. The fact is you can get on the property ladder with shared ownership for as little as, say, £30,000 and a deposit that could be just £1,500."

Beeches be quick

That's enough to buy a 25% share of a two-bed house at The Beeches, Northfield, (pictured above) assuming you've got a 95% mortgage on what you buy. Buyer shares vary from the 25% minimum up to a maximum of 75%, with around 40% being the average, and low rent payable on the remaining share.

The Beeches is just one of more than a dozen part-buy developments where buyers have moved in this month − the latest being at Greyfriars House, Lichfield, where just three of the six apartments are still up for grabs.

Greyfriars 425x305

Bromford Sales Consultant Harj Bahia handed over the keys to the first buyer to move in at Lichfield (pictured above) last week. "This is definitely one of the most rewarding parts of the job − seeing a customer's dream come true after working with them from the first telephone chat or meeting," says Harj.

"Buyers are genuinely surprised at how little they can pay for a brand new home that they can call their own. The actual share they buy depends on individual circumstances but we make sure that each deal is truly affordable and most buyers are pleasantly surprised to find that the total monthly costs are cheaper than what you would pay to rent a similar home from a private landlord."

Alan nods in agreement and says: "I'm proud of Harj and all the Bromford Homes colleagues who played their part in helping so many of our buyers to achieve their dream during October − and all the other months of the year. Many more of our shared ownership homes across central England have been reserved and we've got every reason to believe that buyers will keep saying a big YES to shared ownership now and into the New Year."

To find out more about how you can make your property dream come true, call 0845 60 10 878 or register for updates. You can also follow us on Twitter and Facebook.

04 November 2013