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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 £54,000*.

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 buyers.

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.

Colliers Green homes

"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 Warwickshire."

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."

LarksRise Matt&Clare alt

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 Warwickshire."

* 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