Bromford is partnering with Keon Homes to deliver 21 shared ownership homes at The Oakfield development on Long Nuke Road near Bartley Green, Birmingham
Through Bromford shared ownership, buyers can purchase an initial share of their home, typically between 25% and 75%, paying a mortgage and deposit on that share with rent against the remainder. Owners can increase their share through staircasing, working towards full ownership over time and reducing their rent as they go.
Matt Beckley, partnerships director at Keon Homes, said: “We’re proud to be working alongside Bromford again, following successful schemes at Newcomen Way and Woodside Way in Telford and Woods Lane in Cradley Heath. This was originally a site owned by Birmingham City Council, who were only willing to sell the site on the basis it delivered much-needed affordable housing for the area. Every effort now is being made to turn the vision into a reality, delivering 65 high quality, energy efficient homes – of which 21 are available for shared ownership – to couples and families in South Birmingham.”
Claire Richardson, head of sales and marketing at Bromford, said: “This region has proven to be a fantastic location for shared ownership, with South Birmingham home to a wide range of commuters, families, professionals and downsizers. The Oakfield offers an opportunity to join one of the West Midlands’ sought-after locations, without the need to save for a large deposit, while securing a high-quality space built to last by a team with a strong track record of delivering in the region. Following the positive response to Frankley Park, we’re pleased to be bringing more shared ownership homes to Birmingham through The Oakfield, giving local people another opportunity to find a home that meets their needs.”
