‘Don’t delay’ on choice at Colliers Green
BE QUICK or miss out on your pick of the plots − and TWO
great ways to buy − at our affordable Colliers Green development.
That's the timely message to first-time buyers across Coventry
and Warwickshire as builders push ahead with their work at New
Arley, near Nuneaton, and nearer to their November deadline of
finishing the first homes.
We're selling just eight of these new two and three-bed houses
through our HelpUbuy equity loan offer −
and another 12 homes through our popular part-buy, part-rent
scheme, also known as shared ownership.
Bromford Homes Head of Sales describes the choice at Colliers
Green as a really rare opportunity for first-time buyers and other
would-be home-owners who can't afford open market prices.
"It's unusual for an affordable housing developer like Bromford
to offer a choice of shared ownership AND HelpUbuy equity loans on
the same site," says Alan after Saturday's Colliers Green launch at
a community centre open day at Gun Hill, New
"Both are really affordable options for would-be buyers who feel
locked out of the property market and are probably renting from
private landlords − part of what's now known as Generation
Rent − or living at home with their folks.
"The fact that we are marketing both options means we can sit
down together with customers, discuss the various pros and cons and
reach a decision on the best route for each buyer.
"Our open day has certainly helped to excite interest among local
first-time buyers and we expect to take our first reservations very
soon. In fact, we hope Colliers Green (pictured above) will prove
as popular as our Larks Rise development in
Coventry, where nearly 40 buyers are seeing their home ownership
dreams come true.
"So I would urge first-time buyers across Coventry and
Warwickshire to be quick off the mark if they want their pick of
the plots of plots here at Colliers Green. I recommend you register your interest now or give
us a call on 0845 60 10878."
HelpUbuy equity loan allows you to
buy your new Bromford home for just 80% of its purchase
price − in the case of Colliers Green, around £98,000*** for a
two-bed home with a full market value of £122,500. You simply pay
5% deposit which in this example is 5% of £98,000 − plus the
monthly mortgage payments on what you borrow − and no interest
on the other 20% for up to five years and no rent either.
With shared ownership, you buy between
between 25% and 75% of your new Bromford home − the amount
depends on what you can afford − and pay low rent on the
remaining share. In the case of Colliers Green, it costs as little
as £30,625* for a minimum 25% share of two-bed house or £34,250**
for a three-bed Cowley.
Crucially for most first-time buyers, the deposits in both cases
are much cheaper than if you buy outright − as little as
£1,532* for shared ownership and as low as £4,900*** for the equity
* With shared ownership, £30,625 would buy a minimum 25% share
of a two-bed house with a full market value of £122,500. A minimum
deposit of £1,532 assumes a 95% mortgage on that minimum
24 September 2013
** With shared ownership, £34,250 would buy a minimum 25% share of
a three-bed Cowley house with a full market value of £137,000. A
minimum deposit would be £1,713, assuming a 95% mortgage on that
minimum share. A minimum 25% share of a three-bed Bourne home with
a full market value of £149,500 is £37,375 and a minimum deposit −
assuming a 95% deposit − is £1,869.
*** With HelpUbuy equity loan, you could pay £98,000 for a two-bed
home with a full market value of £122,500. A 5% deposit on the
share you buy would be £4,900.