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Colliers Green showhome wows first-time buyers

FIRST-TIME buyers are giving our affordable new homes at Colliers Green in north Warwickshire a really enthusiastic thumbs-up.

They turned out in force for Saturday's official opening of the stylish new showhome off Ransome Road, New Arley − a popular rural community roughly five miles west of Nuneaton.

Their enthusiastic reaction and a couple of early shared ownership reservations prompt a timely message to would-be buyers in Coventry and Warwickshire from Bromford Homes Head of Sales Alan Bradley.

The message is this: Be quick or you could miss out on your pick of the remaining plots − and to qualify for our special free carpets incentive*.

"We're delighted that so many people turned out for the showhome opening on January 11 − and that their comments were so positive," says Alan.

"This was a golden opportunity to really get a feel for the build quality, layout and wealth of built-in features that come as standard with all Bromford homes.

"It was also a chance to find out more about the TWO options we have here for first-time buyers and other people who can't afford to buy on the open market − shared ownership AND equity loan."

Colliers Green homes
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 (pictured above), it costs as little as £55,125 for a typical 45% share of a two-bed house or £61,650 for a three-bed Cowley.

The second option, HelpUbuy equity loan, allows you to buy your new Bromford home for just 80% of its purchase price − in the case of Colliers Green, around £98,000* for a two-bed home with a full market value of £122,500. You simply pay 5% deposit, which in this example is 5% of £98,000, plus the monthly mortgage payments on what you borrow − and no interest on the other 20% for up to five years and no rent either.

"Both are really affordable options for would-be buyers on lower incomes who feel locked out of the property market and are probably renting from private landlords − part of what's now known as Generation Rent − or living at home with their folks," says Alan.

Crucially for most first-time buyers, the deposits in both cases are much cheaper than if you buy outright − as little as £2,757 for 45% shared ownership of a two-bed home when borrowing 95%.

Colliers Green showhome lounge
"Both options make it possible for you to start the New Year with a truly affordable new Bromford home that you can call your own. We've already taken a couple of reservations and now that the showhome (pictured above) is open we expect local first-time buyers will start to snap them up," says Alan.

"My advice to anyone from Nuneaton, Coventry and Warwickshire who wants to get on the property ladder at a price you can afford is simple: Be quick or you could miss out."

To find out more about Colliers Green, shared ownership and equity loan, and our special free carpets incentive call 0845 60 10878 or register your interest online. You can also keep in touch by following on Twitter or Facebook.

* conditions apply

14 January 2014