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Last two chances for 1st-time buyers at Brookfields

IT'S all go at our low-cost Brookfields shared ownership development in Shrewsbury. Most of these two-bed houses have now been snapped up by first-time buyers − leaving just TWO homes up for grabs for as little as £60,750*.

And the first buyers are hoping to move in this month as our award-winning site manager and his in-house construction team push to compete this top-quality development by the end of this week.

Two more reservations at the end of last week brought the sales total to six and, with just two homes left unsold, Bromford Homes Head of Sales Alan Bradley has this message for other would-be buyers...

"When they're gone, they're gone," he says. "Brookfields offers local first-time buyers a rare opportunity to get on to the property ladder in this historic market town at a price you can afford thanks to our part-buy, part-rent deal − also known as shared ownership − and if you reserve and complete by the end of March you can still qualify for our free carpets incentive."

How does shared ownership work? Well, instead of buying outright, you buy a share of your new Bromford home and pay low rent on the remaining share. This means your deposit is much lower and so is your typical monthly cost − lower, in fact, than it costs to rent a similar home from a private landlord.

* In the case of Brookfields, a 45% share of a two-bed home would cost you just £60,750 and your deposit could be just £3,038 with a 95% mortgage. The actual amount you buy depends on your financial circumstances but 45% is fairly typical and the maximum share is 75%.

Brookfields wide view

"As you can see from our example, shared ownership deposits are much cheaper than if you buy outright − and we've done comparisons that prove the total monthly cost for a typical shared ownership buyer is less than it costs to rent privately," says Alan.

"That's why people keep saying YES to shared ownership and why we expect the remaining homes here at Brookfields will be snapped up pretty quickly too.

"With the demo home opened just after Christmas, our award-winning site manager Pete Hamon and his in-house construction team are now putting the finishing touches to the last few houses. If all goes well, we will be handing over the keys to our first shared ownership buyer very soon indeed − and watching their dream of home ownership come true."

To find out more about Brookfields, shared ownership and our free carpets incentive call 0845 60 10 878 or register for updates. You can also keep in touch by following us on Twitter or Facebook.

11 February 2014