Why newly-weds say “I do” to shared ownership
Newly-weds Zak and Salma Townsend wanted to buy their own home
in the sought-after village of Meriden, near Solihull.
But the couple knew that, no matter how hard they saved, they
would probably never be able to afford open-market property prices
in this attractive rural community.
Their hopes changed only when they found out about our new shared
ownership homes at Mulberry Gardens - just five minutes walk
from the historic village green.
Our popular part-buy, part-rent formula meant Zak and Salma,
both 23, could afford to purchase just under 50% of a new two-bed
Belford home with a full market value of £210,000.
With a minimum 5% deposit of less than £5,000* and affordable
monthly costs, including low monthly rent for the share they didn't
buy, the couple's dream of home ownership could become a
They moved into their stylish Taylor Wimpey-built home off Leys
Lane, Meriden, just under two months ago - and couldn't be
"It really is a dream come true. Perfect in every way. We have a
beautiful new home in the place we want to be and at a price that
we can afford," says Salma, who works at the Coventry florist shop
owned by her mother-in-law Tracy.
"Zak and I were lucky enough to be living with his mum at the
family home in Meriden after we married, working hard and quietly
saving hard for a deposit.
"We wanted to stay in Meriden - the place where Zak grew up and
close to his job at Birmingham airport - and we didn't want to rent
because we both think that's a complete waste of money. But at the
same time we knew in our hearts that we could probably never afford
to buy something on the open market here.
"Then we heard about the shared ownership homes at Mulberry
Gardens, went to have a look and realised they were ideal for us.
We finally moved in at the end of January - about a year after we
were married - and we couldn't be happier.
"Shared ownership certainly made all the difference for us and
we would definitely recommend it to other first-time buyers who,
like us, find themselves unable to buy a home they can call their
own because of crazy property prices."
Salma is equally quick to praise mother-in-law Tracy. "She has
been brilliant, really supportive all the way. We really can't
thank her enough. Like us, she thinks that the shared ownership
homes here at Mulberry Gardens are amazing - and the prices are
Bromford Homes sales team members Kirsty Darby and Berni Moloney
are also singled out for praise. "Kirsty and Bernie have been so
helpful and supportive from start to finish," says Zak. "We had
some frustrating delays caused by legal issues but Kirsty and Berni
did all they could to keep us informed and to help things along.
Kirsty even cried on the day that we heard the mortgage offer had
come through. It makes a real difference to know you've got someone
who cares on your side and looking out for you through the
Bromford Homes Head of Sales Alan Bradley is delighted by the
couple's warm words of praise for Mulberry Gardens, shared
ownership and the sales team's customer service.
"We're always grateful when our homebuyers take the time and
trouble to say such positive things about what we do - and of
course we wish Zak and Salma many years of happy living in their
new Bromford home," says Alan.
"Meriden is a very desirable place to live - like many rural
communities in this hotspot between Solihull and Coventry - and
this is reflected in the asking prices for all kinds of local
property. As a result, most first-time buyers on ordinary incomes
are quite simply priced out unless they get substantial help from
what we call the Bank of Mum and Dad.
"These Meriden homes are built to the same high quality as the
open-market properties that Taylor Wimpey built alongside them, and
they come with all the mod cons and other features that people want
"The big difference is the cost − and that's the reason why
all the homes here at Mulberry Gardens have been snapped up. This
proves, once again, shared ownership really does offer young
working people a truly affordable alternative to private renting or
living with your parents."
* It costs £94,500 to buy a 45% share of a two-bed home with a
full market value of £210,000 and a minimum 5% deposit on that
share would be just £4,725. The actual amount you buy depends on
your financial circumstances but 40-45% is fairly typical and the
maximum share is 75%. You pay low rent on the share you don't
To find out more about shared ownership and Bromford
developments across central England call 0845 60 10 878 or register
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28 April 2015