New shared ownership homes in Longford give real hope to first time buyers
Bromford Homes is offering new two and three-bedroom houses in
Whittington Park, Gloucester, made affordable with the option of
buying with shared ownership.
The homes are ideally located for commuters with the M5 motorway
close by and less than two miles from Gloucester city centre with
all its amenities.
Alan Bradley, head of sales said: "These homes are particularly
good news following research from the National Housing Federation
that found this area particularly difficult for people to get on
the housing ladder. Now is the time for people to take shared
ownership seriously as the number of renters under 40 continues to
rise and the average first-time buyer needs a £30,000 deposit.
"Compare this with being able to buy a typical 40 per cent share
in a two-bed Rudford house here which will cost £72,000, with
either a five per cent deposit of £3,600 or a ten per cent deposit
of £7,200; or a 40 per cent share in a three-bed Tibberton house
which will cost £90,000, with a five per cent deposit of £4,500 or
a ten per cent deposit of £9,000."
Many people aren't even aware of shared ownership which offers a
real solution for those who want to get on the property ladder but
just don't have a large deposit. The beauty of this option is that
it can be cheaper than renting but with the benefit of owning your
own home. It also offers more security as a landlord can terminate
a tenancy at any time whereas these properties have a 125-year
Shared ownership offers the chance to buy a share in a brand new
home on a part buy/part rent basis and pay a subsidised rent on the
part not owned. People can buy between 25 and 75 per cent and buy
more as and when they can afford to.
The new houses will be ready to view from September. For more
information on the development, contact Bromford on 0845 6010
18 August 2015