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'Don’t miss out' on low-cost Meriden homes

FIRST-TIME buyers are snapping up a rare chance to make their home ownership dreams come true in the historic village of Meriden for a fraction of what it would cost on the open market.

Would-be homeowners can buy a two-bed Belford house at Mulberry Gardens − not far from the heart of this sought-after village midway between Coventry and Solihull − for as little as £94,500* through low-cost shared ownership. Or families can buy a typical 45% share of a three-bed Rosedale from just £114,750**.

With typical prices − and deposits − less than half what it would cost for an open-market purchase, affordable housing specialist Bromford Homes predicts strong demand from eager first-time buyers who are priced out of the traditional property market.

Two of the five available homes have already been reserved and the remaining three are sure to be snapped up soon, so Bromford Area Sales Consultant Kirsty Darby urges interested buyers to come and view the development as soon as possible − or miss out on this great opportunity.

Meriden 4

"Meriden is a very desirable place to live and this is reflected in the asking prices for all kinds of local houses and apartments. As a result, most first-time buyers on ordinary incomes are quite simply priced out," says Kirsty.

"Shared ownership offers such buyers an affordable way of making their home ownership dream come true. It's ideal for nurses, firefighters and other ordinary working people. You don't have to be a key worker to qualify − and you can have a total of household income of up to £60,000.

"With shared ownership, you commit to a relatively small mortgage and therefore have to find a much smaller deposit. It's a truly affordable alternative to private renting or living at home with your folks."

Mulberry Belford 9670x400 

A typical deposit for a two-bed Belford (pictured above) at Mulberry Gardens can be as little as £4,725* if buying a typical 45% share and, in the case of a three-bed Rosedale (below), just £5,738**.

The attractive, high-quality development off Leys Lane includes a total of five shared ownership houses − three 2-beds and two 3-beds A stylish kitchen with stainless steel oven, hob and extractor, french windows leading to the garden and off-road parking all come as standard, together with gas-fired boiler, high-quality double glazing and other energy-saving features that help to reduce gas and electricity bills.

Builders have already finished the first few homes and the rest will be handed over early in the new year.

Mulberry Rosedale 960x400

* £94,500 buys a 45% share of a two-bed Belford with a full market value of £210,000. A minimum deposit of £4,725 assumes a 95% mortgage on that share, with low rent payable on the share you don't buy.

** £114,750 buys 45% of a three-bed Rosedale with a full market value of £255,000 and a minimum deposit of £5,738 assumes a 95% mortgage on the share you buy.

To find out more about Mulberry Gardens and shared ownership, call us now on 0845 60 10 878 or check out the online details in our Find A Home section and register for updates. You can also keep an eye on latest updates by following us on Twitter and Facebook.

24 November 2014