Housing association offers 'cashback' for owners at shared ownership development

Shared ownership is where mortgage holders own a percentage of the property and have to pay rent for the other part, and can increase their stake over time.

It means a smaller deposit is needed and the housing association Bromford is part of a campaign to raise awareness of shared ownership.

Owners have to be aware of all their responsibilities under such a style of ownership.

Bromford is offering homes in Charlton Gardens, just off the A442 to the north-west of Telford. It is a collection of new two-, three- and four-bedroom homes built by Countryside, available to move into through shared ownership.

Bromford is allowing homebuyers who reserve a new home by December 31 to benefit from a £750 ‘build your own’ offer, with the new homes provider putting the funds towards white goods, legal fees, furniture or the cost of their home.

Catherine Jarrett, director of sales and marketing at Bromford, said: “We couldn’t be happier with the incredible homes here at Charlton Gardens and our collaboration with Countryside.

“Buyers at this development have really struck lucky to be in such a great area, with fantastic transport links and infrastructure for commuters, with the homes designed to accommodate those who work from home.

“We are delighted to be providing buyers with this £750 offer to help them kickstart life in their new Bromford home.”

Bromford says at Charlton Gardens, the homes are 27 per cent more energy efficient than the national average, equipped with A-rated boilers, low-energy LED lighting, and smart thermostats.

MoneySavingExpert Martin Lewis has published a guide that sets out how the scheme works in England, who can take part and what to look out for.

Bromford is one of the largest housing associations in the country, owning more than 45,000 homes spread across Central and South West England.