'Shared ownership' homes coming to Worcester to help first time buyers
'SHARED ownership' homes are coming to Worcester to help first time buyers find a property.
Bromford has announced it will soon be releasing a range of new 'shared ownership' homes at Elgar Park, situated on Martley Road.
People looking to buy one of the properties will have to pay a mortgage on the share they own, and pay rent on the remaining share, meaning only a smaller deposit is required.
The idea is to help give first-time buyers and those who do not currently own a property the opportunity to secure a new build home with Bromford.
READ MORE: Canada Way Co-op damaged after attempted overnight break-in
Elgar Park will be a collection of two, three and four-bedroom homes built by Bloor Homes.
Steve Roberts, regional managing director at Bloor Homes, said the location of the homes is "fantastic".
He said: “We are pleased to partner with Bromford to help deliver quality, affordable new homes on the edge of Lower Broadheath, Worcester.
“These homes will benefit from the fantastic location Elgar Park has to offer, with handy travel links to the city centre.
"The wider development will also provide sports and community facilities, including grass and 3G pitches, pavilion and equipped play areas, a primary school and a local centre.
“Elgar Park will further benefit the wider community with our combined commitment towards highway improvements and supporting local employment and education needs.”
Catherine Jarrett, director of sales and marketing at Bromford, said she is expecting the homes to be "very popular".
She said: “We at Bromford are very excited to be releasing this new development and have been very pleased with our collaboration with Bloor Homes.
“We expect the high-quality homes at this development to be very popular, so we would highly encourage anyone who is interested to get in touch right away to avoid missing out on a great home.”
READ MORE: City trees affected by Ash Diebeck set to be tackled
Bromford is one of the biggest housing associations in the country, with more than 45,000 homes spread across central and South West England.
For more information on Elgar Park or to register interest in the shared ownership properties, you can contact email@example.com, call 0800 0852 499, or visit the website at www.bromford.co.uk/elgarpark.