Work under way on building 45 new homes in St Georges Court, Telford

Work is well under way on a new large-scale development of two, three and four-bedroom homes as well as two bungalows in St Georges Court, Telford.

18 of the properties will be available on a shared ownership basis offering local residents the opportunity to get on the housing ladder with a lower deposit as part-buy, part rent. The 45-home development, being built by Bromford's in-house construction team, will neighbour award-winning Priors Leap, Bromford's first outright private-sale scheme in Telford.

Site manager, Pete Hamon, who was awarded the much coveted regional award by the National House Building Council for the Priors Leap development in 2012 said: "It's an exciting project and we are aiming for the show home to be ready for people to view in September."

The site is ideally located within close proximity of Telford town centre and the new Southwater leisure complex with its cinema, bars, restaurants and ten-pin bowling facilities. The train station is in walking distance and there are good links to the M54.

Alan Bradley of Bromford Homes said: "Shared ownership offers a route into housing for those with a limited budget. Many people aren't aware of it and think that if they don't have savings or borrowing power, their only option is to rent. What many are delighted to discover - once they have stumbled across shared ownership - is that it can, in fact, be cheaper than renting and will provide them with a home they own.

"In the last year, we sold more shared ownership homes than forecast so we hope that's a sign that people are becoming more aware of the opportunities shared ownership offers."

Shared ownership offers the chance to buy a share in a brand new leasehold property on a part buy/part rent basis and pay a subsidised rent on the part not owned. People can purchase between 25 and 75 per cent of a new home and then buy more as and when they can afford to. 

Alan concluded: "Shared ownership is an ideal option for young buyers or for people who might be coming out of family breakdowns, for example, a single parent with children."

As well as the shared ownership option, some affordable rent homes will be available at St Georges for anyone not looking to buy.