New Build HomeBuy makes home ownership more affordable at
Brunel Heights, off Connaught Road, Knowle, Bristol
Somer Housing Group has 29 new, affordable homes
available in Bristol on a part-buy, part-rent basis with New Build
HomeBuy.
A special open day is being held on
Saturday, 17th May, 10am to 4pm, for local people
to view the homes at the Brunel Heights development off Connaught
Road in Knowle.
The properties, which will be available between now and August,
are spacious and built to a high standard, with some enjoying
excellent views over Bristol. There is a mix of two-bedroom flats
and houses, plus three-bedroom houses, including a town house
design laid out over three floors.
New Build HomeBuy allows buyers to purchase a share in the
property, usually 50 per cent, and pay a subsidised rent on the
remaining share. If desired, buyers can purchase more of the
property at a later date until it is theirs outright. Priority is
given to applicants with a local connection to Bristol and who are
registered with New Futures and Bristol City Council on their
housing waiting list.
Prices and monthly repayments are as follows:
- Two-bed flats starting at £57,500 for a 50% share, plus rent of
£71.88 pcm. Average monthly repayment is £500*.
- Two-bed houses starting at £68,000 for a 50% share, plus rent
of £155.83 pcm. Average monthly repayment is £610*.
- Three-bed houses starting at £76,500 for a 50% share, plus rent
of £175.31 pcm. Average monthly repayment is £670*.
* Average monthly payments (mortgage and rent) are based on
applicants acquiring a repayment mortgage over 30 years at a
typical APR of 6.5%.
The homes will be managed by Redland Housing Association, a
member of Somer Housing Group, which is developing them. Funding
for the scheme was made possible by another Group member, Somer
Community Housing Trust, which will retain ownership of the
properties.
Louise Swain, Managing Director of Redland Housing Association,
said:
‘We hope these homes will appeal to local
residents who want to stay in the area, but couldn’t otherwise
afford to do so. Knowle is an area benefiting from ongoing
regeneration and this development will help build and sustain the
community.
‘Come along to our open day and find out more
about New Build HomeBuy and how it can help you or your family get
a foot on the property ladder.’
To find out more about New Build HomeBuy, call
Natalie Fowler on 01225 366307 or email sales@somer.org.uk.