Arley open day offers buyers a dream choice
FIRST-TIME buyers and families who can't afford to buy on the
open market are all invited to a special open day in north
Warwickshire that promises to help them make their dreams of home
ownership come true at Colliers Green.
Bromford's usual warm welcome − and an insight into the
secrets of how to get onto the property ladder at affordable
prices − await at the Arley Community Centre off Gun Hill, New
Arley, near Nuneaton, on Saturday (Sep 21).
It's a free, friendly and informative chance for would-be buyers
to find out our popular part-buy, part-rent deal − also known
as shared ownership − and the HelpUbuy equity loan scheme.
Yes, we're offering would-be buyers TWO great ways of getting
onto the property ladder at nearby Colliers Green. You can find out
more when the community centre doors open at 11am on
September 21 and Bromford Homes Head of Sales Alan Bradley urges
aspiring homeowners to drop in at any time before 4pm .
"Colliers Green will be a lovely development that offers buyers
a total of 20 two and three-bedroom affordable homes − eight
of them earmarked for equity loan − right here in the heart of
New Arley, close to local schools and shops," says Alan.
"It's ideal for local couples and young families from Coventry
and Warwickshire who want to get on to the property ladder and
maybe leave behind the uncertainties of living in a private rented
home or living with their mum and dad.
"Shared ownership and equity loan can both make the dream of
home ownership a reality at a price that ordinary people can afford
and, in the case of Colliers Green (pictured below), we are
offering you a choice of both routes onto the property ladder."
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 − with no
interest on the other 20% for up to five years and no rent
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 around £4,900*** for the equity
loan scheme," Alan tells would-be buyers.
"Which route you choose will depend on your circumstances and
your own personal choice so we encourage you to come along on
Saturday, find out more and talk through your options. We're
expecting the first few homes to be finished this autumn so you
could be living in your own home much sooner − and for much
less − than you thought."
You can find out more about the Colliers Green open day,
shared ownership and HelpUbuy equity loans by calling
us on 0845 60 10 878. You can also register for updates or follow us
on Twitter and Facebook.
Follow this link for directions or put CV7 8HA into your
* 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
17 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.