Low-cost bite of Pippins for first-time buyers

Published by David Faers for Bromford Group in Housing and also in Communities

FIRST-TIME buyers in Staffordshire are being offered a really affordable chance to get on to the property ladder with Bromford Homes shared ownership prices that start at £30,500.

That would be enough to buy a minimum 25 per cent share of a £122,000 two-bed house at The Pippins, Rugeley – and the deposit could be as little as £1,525*.

Would-be homeowners can buy up to 75 per cent and pay subsidised rent on their remaining share at this commuter-friendly development, which also includes three-bedroom homes.

All seven Bromford Homes properties are great value for money and, according to Alan Bradley, Head of Sales for Bromford Homes - part of the Bromford affordable housing and support business - are ideal in every way for local first-time buyers.

He urges would-be homeowners to see the homes for themselves this weekend when the new showhome opens at Rugeley Road, Rugeley.

He said: “These homes are just right for young people who want to buy their own home but cannot the five or ten per cent deposit and the mortgage repayments needed to buy outright

“With shared ownership, the deposit could be as little as £1,525* and the combined mortgage and rent payments will usually be much lower than for outright sale.

“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 brand new 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.”

The seven Bromford Homes properties – four three-bed houses and three two-beds – are being sold as part of the HomeBuy shared ownership scheme.

* The minimum £1,525 deposit is based on a customer borrowing 95 per cent of a 25 per cent share on a two-bed house costing £122,000. That 25 per cent share would cost £30,500. A 10 per cent deposit on the same share would cost just over £3,000.

www.bromfordhomes.co.uk

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