Own Your Own Home But Pay Only 75% of its Market Value at Bloomfield, in Shefford, Bedfordshire

March 29, 2011 - PRLog -- An initiative to help more people get onto the housing ladder and own a home of their own has launched in Shefford.  There are eight new homes, at the popular Bloomfield development from Croudace Homes, which are available for just 75% of their full market value.

The homes available include both two bedroom apartments and two bedroom houses, with the 75% market value prices starting from £93,750 and £146,250 respectively.

“This is a great way for first time buyers to get started,” comments Stuart Elvidge of Croudace Homes, “I’m not surprised we’ve had a great deal of interest, this is an attractive development of new homes, and an opportunity like this doesn’t come along every day!”.

The initiative is termed the Discounted Market Housing Scheme and is run in conjunction with Orbit HomeBuy Agents.  The property is independently assessed to agree its current market value, and then is offered for sale at 75% of this price.  Purchasers under the scheme own 100% of their new home.  Should they wish to sell their home at any point they are legally bound to sell the property on at 75% of its market value at the time of re-sale.  Thus ensuring there is a supply of lower cost housing for future generations of first time buyers in Shefford.

Whilst the scheme is administered by Orbit HomeBuy Agents these properties are not Housing Association owned, and purchasers do not have to be on a waiting list to apply.  However purchasers do have to fulfil some qualifying criteria.

“We’re aiming to help local people who are either living at home with their parents, or renting privately.  We have excellent links to good independent financial advisors who are able to secure mortgages specifically for new homes, with monthly repayments working out more cost effective than renting,” says Stuart.

The Walcott is a two bedroom house available at £146,250.  It has a well equipped modern kitchen / dining room, a separate lounge, a downstairs cloakroom , luxurious family bathroom and an allocated parking space.

Also available under the scheme is The Thornhill, a two bedroom apartment at £97,500.  It has a lounge / dining room, separate kitchen with built-in appliances included, modern bathroom and an allocated parking space.

Bloomfield is a development of two, three and four bedroom homes set off Clifton Road in Shefford, located midway between Bedford and Hitchin and within reach of both the A1M and the M1.

For further information and qualifying criteria contact the Croudace Homes Sales Consultant on 0800 840 0268 or visit http://www.croudacehomes.co.uk.

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Croudace Homes build new homes for sale throughout the South-East with an emphasis on traditional family houses within commuting distance of London. See www.croudacehomes.co.uk

Orbit HomeBuy Agents provide low cost housing options for people who want to get a foot on the home ownership housing ladder. It is the largest HomeBuy Agent in the country, representing the West Midlands; Bedfordshire and Cambridgeshire, Norfolk and Suffolk. See www.orbithomebuyagents.co.uk