Contact Sales Team

0800 085 2499

Request a call back

Plot 7

Ways to buy

Details of ways we can help you buy your first or next home

View all ways to buy

Prices confirmed for affordable homes in Knowle

FIRST-TIME buyers are being offered a rare chance to get on the Knowle property ladder for a fraction of what it would cost on the open market.

Yes, you can snap up a one-bed apartment at Arden Fields − not far from the heart of this sought-after village near Solihull − for as little as £72,000* through low-cost shared ownership.

Part-buy prices start from just £110,250** for a typical 45% share of a two-bed house and just £126,00 for a family-sized three-bed − all built for us by Miller Homes.

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

Knowle 1

"Knowle 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 Alan, an expert in shared ownership.

"Shared ownership offers them an affordable way of making their home ownership dream come true. These houses and apartments are built to the same high quality as the open-market homes that Miller is building alongside them, and they come with all the mod cons, other features and contemporary room layouts that people want these days.

"The big difference is the cost. 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."

Arden House

A typical deposit for, say, a two-bed house at Arden Fields can be as little as £5,513** if buying a typical 45% share and, in the case of a one-bed apartment at Arden House (pictured above), just £3,600*.

The development off Hampton Road will include a total of nine shared ownership houses − most of them three-bed Hawthornes (pictured below) − and four apartments. A stylish kitchen with stainless steel oven, hob and extractor, modern bathroom and off-road parking all come as standard, together with ultra-efficient boiler, high-quality double glazing and other energy-saving features that help to reduce gas and electricity bills.

The Hawthorne

Building work is now under way and, if all goes according to schedule, the first homes will be finished before Christmas.

* £72,000 buys a 45% share of a one-bed apartment with a full market value of £160,000. A minimum deposit of £3,600 assumes a 95% mortgage on that share, with low rent payable on the share you don't buy.

** £110,250 buys 45% of a two-bed house with a full market value of £245,000 and a minimum deposit of £5,513 assumes a 95% mortgage.

*** £126,000 buys 45% of a three-bed house with a full market value of £280,000. A minimum deposit would be £6,300, assuming a 95% mortgage on the share you buy.

To find out more about Arden Fields and shared ownership, call 0845 60 10 878 or register your interest online. You can also keep in touch by following on Twitter or Facebook

16 September 2014