All gone at Brookfields
SHREWSBURY'S first-time buyers have said a resounding YES to our
shared ownership homes at Brookfields.
The last of eight two-bed houses off Bagley Drive were snapped
up last week and other buyers have already started to move in. It's
the latest shared ownership success story in a
record year for Bromford completions with 200-plus buyers choosing
shared ownership as the affordable way of getting onto the property
And the story's not finished yet, according to Bromford Homes
Head of Sales Alan Bradley. "We've got many more completions in the
pipeline before the end of March; many more singletons, couples and
families who will see their homebuying dream come true thanks to
shared ownership," says Alan.
"Brookfields is a prime example of how shared ownership makes
all the difference for first-time buyers on lower incomes −
buyers who would probably be priced out of the market in a
sought-after place like Shrewsbury, where property values are
relatively high and average wages relatively low. Our low purchase
prices and low deposits make all the difference − especially
at a time like this when average property prices are rising
So what's different with shared ownership? 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 (pictured above), a 45% share of a
two-bed home cost just £60,750 and the 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%.
"As you can see from our example here in Shrewsbury, shared
ownership deposits are much cheaper than if you buy outright − and
we've got several 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 strong demand from first-time buyers at our next Shropshire
development − Church View at Donnington Wood in Telford.
Prices here are yet to be confirmed but they will be equally
affordable and my message to local first-time buyers is to be quick
or you could miss out. We've got just four of these two and
three-bed shared ownership homes so register now and take the first
step towards seeing your dream of home ownership come true."
To find out more about Church View and shared ownership call 0845 60
10 878 or register for updates. You can also
keep in touch by following us on Twitter or Facebook.
07 March 2014