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Prices confirmed for affordable homes in Warwick

FIRST-TIME buyers are being offered a chance to get on the Warwick property ladder for a fraction of what it would cost on the open market.

Yes, you can snap up a Sherbourne home at Beaumont Meadow − close to the M40 and just four miles from the nearest mainline station - for as little as £101,250* through low-cost shared ownership.

Prices are confirmed as the construction team heads for March completion of just six Bromford two-beds (pictured below) as part of this popular Taylor Wimpey development.

With our typical prices − and deposits − less than half what it would cost for an open-market purchase, Bromford Homes Head of Sales Alan Bradley predicts strong demand and urges first-time buyers who live or work locally to act quickly if they want to reserve a particular plot for just £500.

The Sherbourne

"That £500 could be one of the best investments you'll ever make if you're someone who wants to get on the property ladder in this historic county town − and make your dream of home ownership come true at a price you can truly afford," says Alan, an expert in shared ownership.

"Warwick is a very desirable place to live and this is reflected in the asking prices for all kinds of local houses and apartments. As a result, most first-time buyers on ordinary incomes are quite simply priced out.

"Shared ownership offers them an affordable way of making their home ownership dream come true. Instead of buying outright, you buy a percentage of the full price. That means a lower deposit − from just over £5,000* in this case − and lower monthly mortgage payments, with low monthly rent payable on the share you don't buy.

Floor plan

"These houses are built to the same high quality as the open-market homes that Taylor Wimpey is building alongside them, and they come with all the mod cons, other features and contemporary room layouts (above) that people want these days.

"The big difference is the cost. Shared ownership at Beaumont Meadow offers young working people a truly affordable alternative to private renting or living with your parents."

A typical deposit for a two-bed house at Beaumont Meadow can be as little as £5,063* if buying a typical 45% share. The homes off Academy Drive all feature a contemporary kitchen with stainless steel oven, hob and extractor, two double bedrooms and downstairs cloakroom as well as bathroom. Off-road parking also comes as standard.
 
To find out more about buying at Beaumont Meadow call 0845 60 10 878 or register for updates. You can also follow us on Twitter @BromfordHomes and on Facebook.

* £101,250 buys a 45% share of a two-bed house with a full market value of £225,000. A minimum deposit of £5,063 assumes a 95% mortgage on that share, with low rent payable on the share you don't buy.

15 January 2015