Shared ownership unlocks buyer dreams in Rugby
THE DREAM of buying your own home is coming true for dozens of
shared ownership buyers in
Rugby − and for less on average than it costs to rent from a
First-time buyer demand is so strong that all but one of eight
two-bed Beckford homes at Butterfield
Gardens are now reserved thanks to part-buy prices that start
from just £56,250*.
It's a similar success story at our other Rugby development, Oaklands, with 11 homes sold and
another eight reserved by shared ownership buyers.
That leaves just three Oaklands homes up for grabs and another
five coming soon with prices as low as £60,750** for a two-bed
Nightingale home or £83,250 for a three-bed Dunnock*** (pictured above).
Bromford Homes Head of Sales Alan Bradley urges local first-time
buyers to grab these last few opportunities while they can. "Rugby
is like many places these days − property prices are fairly
high and incomes relatively low for ordinary working people," he
"We know that people still aspire to own their own home −
and shared ownership can make that dream come true at an initial
price that people can afford and a monthly cost that is typically
cheaper than renting a
similar home from a private landlord.
"It's a real win-win for first-time buyers on ordinary incomes
and a growing number of people who, before the credit crunch, would
probably have been able to buy a first home the traditional way.
People can have a combined household income of up to £60,000 and
With shared ownership, buyers purchase between 25% and 75% of a
new Bromford home rather than buy outright − the exact amount
depends on their income − and pay low rent on the remaining
"The strong demand we've experienced at Butterfield Gardens and
Oaklands says it all − and in the case of Oaklands follows a
very successful first phase of shared
ownership a year or so ago," says Alan.
"It's no wonder then that so many first-time buyers from
Rugby − and the rest of Warwickshire and central
England − are saying such a big YES to shared ownership. We
expect the remaining homes at Oaklands and Butterfield Gardens will
be snapped up very soon."
To find out more about shared ownership and
opportunities to buy in your area, call 0845 60 10
878 or register for updates. You can also
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* £56,250 would buy a 45% share of a two-bed Beckford with a full market value of
£125,000. A deposit of £2,813 assumes a 95% mortgage on that
20 January 2015
* £60,750 would buy a 45% share of a two-bed Nightingale with a full market value of
£135,000. A deposit of £3,038 assumes a 95% mortgage on that
* £83,250 would buy a 45% share of a three-bed Dunnock with a full market value of
£185,000. A deposit of £4,163 assumes a 95% mortgage on that