Two homes left at fast-selling Pennylands
LOW deposits and low monthly costs are unlocking the home
ownership dream for first-time buyers at Pennylands in the Cotswold town of
Five of the shared ownership houses have already
been reserved − leaving just two more homes waiting to snapped
up for a fraction of what it would cost to buy on the open
This strong demand prompts a timely warning to other would-be
buyers from Bromford Homes Head of Sales Alan Bradley: "Don't
delay. These low-cost homes are selling fast − and, with just
two left for now, it won't be long before they're all gone."
Shared ownership makes it possible to buy a 45% share of a new
two-bed house at Pennylands for just £78,750* − minimum
deposit just £3,938* − and priority is being given to
singletons, couples and young families with local connections in
this sought-after part of Gloucestershire.
"These low-cost houses (pictured above) are ideal for local
first-time buyers on lower incomes − people who want to stay where
they've got family and friends but are being priced out as property
values soar and wages fall behind," says Alan.
"Both the purchase price and the deposit in this typical example
are a fraction of what it would cost to buy a similar home on the
open market. That's what makes shared ownership so affordable in
the first instance − and it doesn't stop there. Several cost
comparisons prove that the monthly cost of shared ownership is also
really affordable − in most cases less than it would
cost to rent a similar home from a private landlord."
A second wave of shared ownership homes is also being built at
the site off Greet Road, with two-beds set for completion in
December and three-beds in February 2015. Three-bed prices are yet
to be confirmed.
* £78,750 would buy 45% of a new two-bed house with a full
market value of £175,000. Your minimum deposit, assuming a 95%
mortgage, would be £3,938.
To find out more about Pennylands and shared ownership, call 0845 60
10 878 or register for updates. You can also
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26 March 2014