‘Be quick’ as low-cost homes launch at Moulton
BUYERS have a low-cost chance to make their property dream come
true at our newly-launched development on the edge of a popular
village just outside Northampton.
You can get onto the property ladder at Countess Manor, Moulton, for just
£59,000 and your deposit could be as little as £2,950 − thanks
to Bromford's popular part-buy, part-rent deal − also known as shared ownership.
We've got just eight of these two-bed and three-bed affordable
homes coming onto the market so Bromford Homes Head of Sales Alan
Bradley urges first-time buyers in this rural part of
Northamptonshire to be quick or risk missing out on your pick of
"These high-quality, low-cost homes are ideal for younger people
in and around Moulton − people who want to stay in the place where
they've got family and friends but can't afford to buy on the open
market," says Alan.
"Affordability is a huge problem for would-be homebuyers on
lower incomes and the simple truth is that many are being priced
out of homeownership as property values soar and wages fall a long
He cites the latest research from PricedOut, the campaign for
lower-cost housing, which reveals that nearly 250,000 private
renters have been excluded from homeownership by the recent surge
in property values.
The good news for would-be buyers like this is that shared
ownership can still unlock the door to a home that you can call
your own, says Alan.
The secret? Instead of buying outright, you buy a share of your
new Bromford home − 40% is fairly typical but it can be as much as
75% depending on your household income − and pay low rent on the
remaining share. So, in the case of Countess Manor, £59,000 could
buy 40% of a two-bed home with a full market value of £147,500 and
a 5% deposit on that share would be just £2,950.
"Both the purchase price and the deposit in this example are a
fraction of what it would cost to buy a similar home on the open
market. What's more, the monthly costs of shared ownership are
truly affordable − in most cases less than it would cost to rent a
similar home from a private landlord," says Alan.
"It all adds up to a truly affordable opportunity for first-time
buyers in this part of rural Northamptonshire − and since we've got
just eight homes here at Moulton my advice would be to be quick or
you'll miss out on your pick of the plots."
20 February 2014
To find out more about shared ownership and Countess Manor, call 0845 60 10
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