Bromyard Road, Worcester

A fantastic opportunity to purchase a three bedroom detached family home via Shared Ownership at the brand new Bromyard Road development in Worcester by Stonewater Homes. Shares starting from 40% at a purchase price of £130,000 with a monthly rent of £446.88 and a service charge of £27.16 per month.

Stonewater, working in partnership with Worcester City Council, present 48 homes for shared ownership and eight for rent-to-buy at their Bromyard Road development on the outskirts of Worcester. In total there will be 120 affordable homes at the development which are being built by Vistry Partnerships West Midlands.

PLOT 66 & 76 - A three bedroom detached house.

This double fronted family home offers a spacious kitchen/ dining room, living room, utility, cupboard and downstairs W.C to the ground floor. Upstairs there are three good sized bedrooms with cupboard space to Bedroom 1 and a family bathroom. This home further benefits from two car parking spaces, and a rear garden.

Price example:

Open market value: £325,000
40% shares starting from: £130,000
Monthly rent based on a 40% share: £446.88 per month
Service charge per month: £27.16

Call our experienced Shared Ownership sales team today to find out further details and check your eligiblity.


General
Each home will benefit from the installation of an air-source heat pump, making it potentially more cost effective to run while also helping to lower carbon emissions. Each house has its own private rear garden and allocated parking; residents will also have access to communal outside space that will feature a fruit and vegetable garden and a play park.

As the primary landowner, Stonewater will maintain and manage the surrounding public spaces, including protecting and enhancing the green spaces and biodiversity across the area by creating a 'green corridor' which links to nearby cycle paths. A public artwork is also being created for the scheme which reflects the local area and its history and which will become a focal point for the new community.

Location
Worcester City centre is approximately two-and-a-half miles or a 10-minute drive from the development.
This beautiful, ancient cathedral city, on the banks of the River Severn, is rich in heritage and culture while offering a wealth of modern day amenities. A great choice of shops is on offer including those in the Crowngate Shopping Centre which is home to 60 high street favourites and independent retailers. There is also a regular outdoor market held in Angel Place in the heart of Worcester's shopping district.
Several major roads are easily accessible from Bromyard Road including the M5 which links to
Birmingham, Gloucester and Exeter. Two railway stations are located around three miles from the
development: Foregate Street and Shrub Hill stations. Foregate Street station offers services to
Birmingham New Street, Hereford and London Paddington. Shrub Hill offers services to Gloucester,
Bristol, Weymouth, Oxford and London Paddington. Whichever station you're travelling from, train times
into London take between two to three hours, with trains into Birmingham New Street taking just under
an hour. For international travel, Birmingham International Airport is approximately 41 miles from
the development.

Schooling
Bromyard Road is ideal for families with a good range of schools in the area catering for ages including
nearby Pitmaston Primary School rated 'Outstanding' by Ofsted. For high school education, Nunnery
Wood High School and Riverside Senior School are both around a 15-minute drive away. Other schools
in the vicinity include Heart of Worcestershire College and Worcester Sixth Form College.

Shared Ownership
Shared Ownership is a scheme which enables you to buy a share of a property subject to affordability whilst paying a subsidised rent on the remainder. The more of the property you own, the less rent you pay.

Once you have bought your initial share, you may be able to purchase the remainder of the property as and when your circumstances change. This is an optional process known as Staircasing.

All shared ownership properties are leasehold and therefore usually attract a service charge. In the case of houses, the freehold would usually be transferred to you on 100% Staircasing (subject to lease restrictions)
The service charge will include buildings insurance as well as a charge for the cleaning and/or maintenance of any communal areas such as car parks, greenspaces and so on. Maintenance of lifts (where installed) as well as communal grounds in the case of flats may also be included. In some cases, an external organisation may be set up to maintain aspects of communal areas therefore customers may be required to make contributions to a Management Company. Lastly, there may be a requirement to contribute towards something called a reserve fund which is designed as a contingency to cover the costs of any large prospective works. For details about any particular development, please contact us.

Eligibility
For those looking to buy a Shared Ownership home, there are some eligibility requirements that must be met. The general eligibility criteria for Shared Ownership is as follows:

You must be at least 18 years old.
Your annual household income must be less than £80,000.
You cannot own another home. Shared Ownership purchasers are often first time buyers but if you do already own another property (either in the UK or abroad), you must be in the process of selling it.
You should not be able to afford to buy a home suitable for your housing needs on the open market.
You must show you are not in mortgage or rent arrears.
You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home during your

Additionally, you will generally need between 5-10% of the equity share that you're purchasing as a deposit, and should have access to at least £4,000 to cover the other costs of buying a property. This is a guideline figure and the actual amount may vary. For more information, check out the costs associated with buying a Shared Ownership home.

Agents Notes:
Please note that all sales particulars and images are for marketing and illustrative purposes only.

Computer generated images are representative of the house type and not necessarily the specified plot as some details may vary.

Plans may contain elements which are not present upon the final completion of the property.

All room dimensions are approximate and are for general guidance only.

Photos show carpets to be included however plots do not include carpets and only flooring to kitchens & wet areas.