Farthings add up to great first-time buyer deal in Telford

Published by David Faers for Bromford Group in Housing

ASPIRING home-owners in Telford are changing up – thanks to the great part buy-part rent deals offered by Bromford Homes at The Farthings.

The flexible HomeBuy shared ownership scheme means that local people can take their first step on the property ladder for as little as £29,375.

That’s the asking price for a 25 per cent share of a two-bed house at Ketley – and, most importantly for many first-time buyers – the deposit would be just £2,938 but could be as low as £1,469*.

Affordability is a key issue for so many first-time buyers, says Bromford Homes Sales Consultant Harj Bahia, and The Farthings has all that they are looking for.

“The numbers tell the story. We’ve already sold 12 of the 17 homes we have for sale and that leaves just five homes waiting to be snapped up," said Harj.

“These homes are ideal for first-time buyers who want to leave behind the uncertainties of renting and enjoy the benefits of home ownership but don’t have the five or ten per cent deposit needed to buy outright.”

With Bromford Homes HomeBuy, the deposit for a two-bed Crown or Sterling-style home could be as little as £1,469*. The development also includes three and four-bed homes, so there is something to suit every buyer, every pocket.

“Compare that figure of just under £1,500 with the £11,750 you would have to pay if you were buying outright with a 90 per cent mortgage and you see why it makes such sense,” said Harj.

 “Shared ownership is still one of the property world’s best-kept secrets. With many lenders requiring fairly large deposits, it’s a great way for people to get into the home-buying market.

“We do everything we can to make sure that the deal is truly affordable for buyers – whether they are buying a 25 per cent share or anything up to the 75 per cent maximum.

“When buyers come to us, we go through their finances with them and work out what they can really afford. At the end of the day, buyers get a traditionally-built, energy-efficient home built for ease of maintenance at a really affordable price.

“What’s more, our price includes a lot of features that buyers might have to pay for as extras elsewhere. Things like turfed front and back gardens, full screen fencing, and quality kitchens with built-in oven, hob and extractor.”

Of the remaining five Bromford Homes properties, there is just one four-bed house, two three-beds and two two-beds.

The location – off the Holyhead Road at Ketley - is good for local commuting and from a family point of view. A family-run pub, post office and shops are all nearby.

Telford town centre is easily reached by bus or by car. Head the other way and you can drive to Shrewsbury in about 15 minutes.

 *The £1,469 deposit figure is based on a five per cent deposit for a purchaser buying a 25 per cent share of a two-bed house with a full asking price of £117,500.

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