Don’t let grass grow under your feet at Pastures
ASPIRING home-owners are snapping up our high-quality affordable
houses at The Pastures, Alcester, for a fraction of
what they would cost on the open market and for less each month
than it costs to rent from a private landlord.
All three 3-bed shared ownership homes off Kinwarton
Farm Road are now reserved − leaving just seven two-bed homes
up for grabs at part-buy prices that start from £76,275. That's
enough to buy a typical 45% share of a two-bed Avon
house and your deposit could be as little as £3,814 with a 95%
Prices like that explain why so many first-time buyers and other
people who can't afford to buy on the open market are saying a big
YES to our part-buy, part-rent deal, says Bromford Homes Head of
Sales Alan Bradley.
"Shared ownership is a truly affordable way to get onto the
property ladder and I'm sure it won't be long before the remaining
homes here at The Pastures will be snapped up too," says Alan. "My
message to first-time buyers in this part of Warwickshire is
simple − be quick or you could miss out on this great
opportunity to make your property ownership dream come true."
So how does shared ownership work? Well, instead of buying
outright, you buy between between 25% and 75% of your new Bromford
home − the actual amount depends on what you can afford − and pay
low rent on the remaining share. In the case of The Pastures, it
costs just £76,275 for a typical 45% share of a two-bed Avon house
or £80,775 for a two-bed Tavy (pictured above).
"Both are really affordable prices for would-be buyers 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 are much
cheaper than if you buy outright − as little as £3,814 with a 95%
mortgage for a typical share of the Avon or £4,039 for the Tavy.
And it's not just the initial costs that are more affordable −
there's lots of evidence to prove that the total monthly costs of
shared ownership are typically cheaper than renting from a
All Bromford homes at The Pastures come with a fully-fitted
kitchen − including oven, hob and extractor − a
downstairs cloakroom and french doors leading to the turfed rear
garden. Other features include full gas-fired central heating,
double glazing with high-performance insulation throughout,
allocated parking space and a 10-year NHBC New Home warranty.
To find out more about The Pastures and shared ownership, call 0845 60
10 878 or register for updates. You can also
download a brochure.
03 January 2014