Locals first for affordable homes in prime Warwickshire village
First-time buyers have a chance to make their home ownership
dreams come true in the historic village of Welford-on-Avon for a
fraction of what it would cost on the open market.
Would-be homeowners with connections to this rural community -
ten minutes drive from Stratford-upon-Avon - can buy a 45% share of
a three-bed Honeybourne house at Hayfield Lawns from just £117,000*
- and the minimum deposit can be as little as £5,850*.
That's less than half what it would cost for an open-market
purchase in this sought-after part of the Warwickshire countryside
and, with just two of these family-friendly homes coming onto the
market, we urge local home hunters to be quick or miss out.
Both part-buy, part-rent homes will ready for buyers to move in
by late May or early June and watching them take shape is
Welford-on-Avon Parish Council's planning spokesman, Jamie
Hockaday, who says: "We look forward to seeing local families
moving into these shared ownership homes at Hayfield Lawns.
"Homes in Stratford-on-Avon district cost significantly more
than national and regional averages. This means most homes for sale
on the open market are now beyond the reach of first-time buyers.
As a result, many local people are unable to afford to stay in the
communities in which they were born or brought up.
"Building affordable homes, where there is an identified need,
enables some of these priced-out first-time buyers to get onto the
property ladder and helps to safeguard the future well-being of
small communities such as Welford-on-Avon."
Bromford Homes Alan Bradley says: "Shared ownership offers
first-time 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, you can have a
total of household income of up to £60,000 and, of course, people
who live or work locally get top priority.
"These houses at Hayfield Lawns are built to the same high
quality as the open-market homes that Cala Homes is building
alongside them, and they come with all the mod cons, other features
and contemporary room layouts that people expect 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 mum and dad."
The attractive, high-quality development off Long Marston Road
offers a great location - not far from the heart of the
village and within easy commuting distance of Stratford, Alcester
and other nearby towns.
Inside, a stylish kitchen with oven, hob and extractor,
downstairs cloakroom and two off-road parking all come as standard,
together with air source heating and hot water (environmentally
friendly, fossil fuel-free energy), double glazing and other
energy-saving features that help to reduce gas and electricity
To find out more about shared ownership and Bromford
developments call 0845 60 10 878 or register for updates. You can
also keep in touch by following us on Twitter and Facebook.
* £117,000 buys a 45% share of a three-bed Honeybourne with a
full market value of £260,000. A minimum deposit of £5,850 assumes
a 95% mortgage on that share, with low rent payable on the share
you don't buy. The actual amount you buy depends on your financial
circumstances but 40-45% is fairly typical and the maximum share is
24 April 2015