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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*.

Honeybourne

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.

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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."

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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.

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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 bills.

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 75%.

 

 

 

 

 

24 April 2015