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Low, low prices for high-quality Northants homes

WE'VE now confirmed some truly affordable prices for first-time buyers at our newest shared ownership developments in Northamptonshire.

You can get onto the property ladder at Saxon Rise, Brixworth − a popular village just outside Northampton − for as little as £65,250. That's enough to buy a 45% share of a new two-bed home − and your minimum deposit would be just £3,263*.

Equally affordable shared ownership purchase prices can be found at Becket Manor, Deanshanger − just inside the Northants border, near Milton Keynes. You can buy 40% of a two-bed home here for just £74,000 with a minimum deposit of £3,700**.

Both developments offer local homebuyers a low-cost way of making their property dreams come true, according to Bromford Homes Head of Sales Alan Bradley, and a cheaper alternative to private renting. "These low purchase prices and low deposits explain why so many first-time buyers in Northants and other parts of central England are saying a big YES to shared ownership," says Alan.

"These high-quality, low-cost homes are ideal for people in and around these popular villages − 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. Well the good news is that shared ownership really can − and does − unlock the door to a home that you can call your own. My advice to local first-time buyers is to call us now and find out how you can qualify, but be quick or risk missing out as we expect strong interest now that prices have been confirmed."

Countess Manor 960

So what's the secret of shared ownership's low prices? Well, instead of buying outright, you buy a share of your new Bromford home − 40-45% 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 another Northants development, Countess Manor (pictured above), just £59,000 could buy 40% of a two-bed home with a full market value of £147,500 and a minimum 5% deposit on that share would be just £2,950.

"Both the purchase price and the deposit in all our Northamptonshire examples are a fraction of what it would cost to buy a similar home on the open market," says Alan.

"What's more, the monthly costs of shared ownership are affordable too − in most cases less than it would cost to rent a similar home from a private landlord. And you don't have to take our word for it − just listen to some of the 200-plus shared ownership customers who've collected keys to a new Bromford home this year. Shared ownership has made their property dreams come true and it can do the same for you."

To find out more about shared ownership and our new developments call 0845 60 10 878 or register for updates. You can also follow us on Twitter and Facebook.

* £65,250 buys a typical 45% of a two-bed home with a full market value of £145,000. Your minimum deposit on that share, assuming a 95% mortgage, would be just £3,263. ** £74,000 buys 45% of a two-bed home with a full market value of £185,000. Your minimum deposit on that share, assuming a 95% mortgage, would be just £3,700.

19 March 2014