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New wave of low-deposit homes taking shape

WE'RE launching a fresh wave of shared ownership developments to keep up with first-time buyer demand for affordable new homes.

The newest site is Arden Fields in the sought-after village of Knowle, near Solihull, where a mix of two and three-bed houses are being built alongside one and two-bed apartments.

Prices are yet to be confirmed but they will be a fraction of what it costs to buy similar homes on the open market so we predict that local first-time buyers will be quick to snap them up.

That's why Bromford Homes Head of Sales Alan Bradley urges homehunters to register now and ask about buying a low-deposit part-buy, part-rent home off-plan.

Arden House

Arden Fields (pictured above) brings the number of active Bromford shared ownership developments to 20 − and there are more to come at villages, towns and cities across central England.

Another new development is Mulberry Gardens (below) at Meriden − also near Solihull − where the first two-bed home has already been snapped up, leaving just two more up for grabs from £90,000* for a typical 45% share. Two three-beds are also coming soon, with prices starting from £110,250*.

The Belford

Shared ownership homes are also taking shape at newly-launched Butterfield Gardens − our second development in the Warwickshire town of Rugby − with the first completions due in September at prices starting from £56,250** for a two-bed and a minimum deposit of £2,813**.

"We're launching new shared ownership developments all the time in an effort to keep up with demand from first-time buyers who can't afford the open market," says Alan Bradley. "Our prices vary from place to place, of course, but every development offers the same deal − great homes, low deposits and affordable monthly costs."

To find out more about our latest developments and how low-cost shared ownership could make YOUR property dream come true, call one of our expert advisors on 0845 60 10 878 or register for updates. You can also keep in touch by following us on Facebook and Twitter.

The Beckford

* £90,000 buys a typical 45% share of a two-bed house with a full-market value of £200,000. A minimum deposit of £4,500 assumes a 95% mortgage. A 45% share of a three-bed house with a full-market value of £245,000 costs £110,250. A minimum deposit of £5,513 assumes a 95% mortgage.

** £56,250 buys a typical 45% share of a two-bed house with a full-market value of £125,000 at Butterfield Gardens (pictured above). A minimum deposit of £2,813 assumes a 95% mortgage

09 August 2014