More launches to meet buyer demand
WE'RE launching a fresh wave of shared ownership developments
across Coventry and Warwickshire that give first-time buyers a
chance to make their property dream come true for as little as
First up are the second phases at Larks Rise, Coventry, and Oaklands, Rugby − two of our most
successful developments last year − with a total of 18 homes
and completions starting from late May. Builders have also made a
start at a second Coventry site, Holmwood, where eight shared
ownership houses will be ready in time for late summer handover to
That's on top of the 12 remaining low-cost homes that are
proving popular with would-be homebuyers at Colliers Green (pictured below), New
Arley, just outside Nuneaton.
"Put them all together with our sell-out sites at The
Pastures, Alcester, and Minstrel Park,
Stratford-upon-Avon," says Bromford Homes Head of Sales Alan
Bradley, "and you've got dozens of opportunities for first-time
buyers to get onto the property ladder across Coventry and
Buyers are already showing strong interest in the latest
launches − with no sign of let-up in the first-time buyer
demand that propelled Bromford shared ownership sales to a record high of 214
during the last financial year.
"Shared ownership's low deposits of around £3,000* and low
monthly costs − lower, on average,
than it costs to rent from a private landlord − really do make
all the difference for people who want a home they can call their
own but can't afford to buy on the open market," says Alan.
"Customers tell us time and time again that shared ownership
changes their lives by making it possible for them to move out from
their parents' homes or private rented housing and take their first
step onto the property ladder. These are buyers who would have been
unable to get on the property ladder any other way −
especially in places like Warwickshire where property prices are
generally high and average wages simply can't keep up."
His advice to others who want to follow in the footsteps of
first-time buyers Matt and Clare (pictured above), who
moved into a two-bed house at Larks Rise last year, is simple.
"Don't delay. If you've saved enough for a low deposit and can
afford the low monthly payments, now's a good time to make your
move," says Alan. "Matt and Clare are fairly typical of the
200-plus buyers who made their property dream come true last year
thanks to shared ownership − and there's no sign of any let-up
in demand from other customers just like them across Coventry and
* 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
£55,125 for a typical 45% share of a two-bed house and a 5% deposit
would be just £2,757.
To find out more about shared ownership and
local developments, call 0845 60 10
878 or register for updates. You can also
keep in touch on Twitter or Facebook.
10 April 2014