Final five at Fortuna after part-buy sales success
FIRST-TIME buyers keep saying YES to shared
ownership − and are snapping up the last few homes at our
successful Fortuna development in Cirencester.
A final flurry of reservations and sales means that 94 of the 99
part-buy, part-rent homes are now claimed by buyers − leaving
just four apartments and the three-bed showhome up
for grabs for as little as £31,250* and a deposit that could be
Completions are also heading towards a major milestone, with 87
buyers having seen their home ownership dream come true by moving
into their new Bromford homes.
It's a fast-selling final chapter to one of our biggest shared
ownership success stories and Bromford Homes Head of Sales Alan
Bradley urges other would-be buyers in the Capital of the Cotswolds
to be quick or miss out.
"Fortuna is one of our biggest shared ownership developments,
with several phases over the last few years, and we're now very
close to selling the last of 99 houses and apartments," says
"Cirencester is like many places these days − house prices
are high and average wages relatively low. That means many
hard-working first-time buyers and other people are priced out of
the market unless they can borrow a really big deposit from what's
commonly known as the Bank of Mum and Dad.
"Our part-buy, part rent deal really does make all the
difference and the fact that almost 100 buyers have said such an
emphatic yes to shared ownership here at Fortuna (pictured below)
How does it work? Instead of buying your home outright, you
purchase between 25% and 75% − the amount depends on how much
you earn − and pay low rent on the remaining share. So, a
minimum 25% share of a one-bed apartment with a full market value
of £125,000 costs £31,250 and the same share of a two-bed apartment
would be £37,500. We've got two of each type left plus the
three-bed showhome − you can buy a minimum 25% share of that
for £58,750 and this includes the carpets, curtains and furniture
at no extra cost.
"Deposits are much cheaper than if you buy outright − as
little as £1,875** for a two-bed apartment − and so are the
total monthly costs," says Alan. It's cheaper too in most cases
than renting from a private landlord."
Fortuna Sales Consultant Kirsty Darby echoes Alan's message to
local first-time buyers and other people who can't afford to buy on
the open market.
"Be quick or you'll probably miss out on these lovely new
apartments," she says. "They're ideal for couples or singletons who
want to leave the family nest or private rented housing and take
the first step on to the property ladder in this really
sought-after part of the Cotswolds. And if you reserve one of these
final few apartments by Friday (Sep 13) you can take your pick from
one of two great incentives − £1,500 towards your deposit OR
free fitted carpets AND a fridge-freezer."
To find out more about shared ownership and
our Fortuna apartments, call us on 01285
640837. You call also register for
updates and follow us on Twitter and Facebook.
* £31,250 represents a minimum 25% share of a one-bed apartment
with a market value of £125,000. The deposit, based on a customer
borrowing 95%, would be £1,563. ** £37,500 represents a minimum 25%
share of a two-bed apartment with a market value of £125,000 and
the deposit, based on a customer borrowing 95%, would be £1,875. A
typical 40% share of a two-bed apartment with a market value of
£122,500 would be £60,000 and the deposit, based on a
customer borrowing 95%, would be £3,000.
11 September 2013