Brookmill Meadow

A selection of three and four bedroom detached houses and semi-detached houses for Shared Ownership.

Coming Soon
Prices from £52,500

Available properties

Collection of three and four bedroom homes.

Features and description

  • 10 year build warranty
  • Amenities Nearby
  • First Phase
  • Spring Move In Date

The development

We will be working with Countryside Partnership to bring you a selection of 3 and 4 bedroom homes to buy with Shared Ownership.

Brookmill Meadow is situated on the edge of Warton Village in the North Warwickshire district of Warwickshire, and is just outside the market town of Polesworth, 3 miles east of Tamworth. These shared ownership properties are perfect for families and first-time buyers alike, as the site provides rural calm and strong transport links to Tamworth town centre, Polesworth and the M42.

Brookmill Meadow in Warton is a quaint village and is perfect for work and play with a range of local amenities and activities on your doorstep and surrounding areas nearby. The site has plenty of green spaces surrounding it, with parks playgrounds and playing fields.

For young and growing families, there is a primary school in Warton and there is a secondary school in nearby Polesworth and Tamworth for older children.

The first homes on this development are anticipated to be ready Spring 2024.

Sales Manager with Customers

Learn about the New Shared Ownership Model

New Shared Ownership Model Explained

Development Brochure

Your dreams of a new home

Interior Bedroom CGI
Internal CGI - Dining Area

Transformed into reality with Shared Ownership

Site plan

Status

Available

Sold/Reserved

Coming soon

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Development Phase
House Type

Local Area Information

Warton Village boasts a network of schools, for young and growing families Warton hosts a primary school, while older children can attend secondary schools in the neighboring areas of Polesworth and Tamworth.

 

 


 

Warton Village benefits from convenient transport links, with accessible roadways and nearby public transportation options facilitating easy connectivity to surrounding areas and beyond.

Brookmill Meadow is situated just outside the market town of Polesworth, and is 3 miles from Tamworth, nearby to the M42

 

 


 

The village and is perfect for work and play with a range of local amenities and activities on your doorstep and surrounding areas nearby. The site has plenty of green spaces surrounding it, with parks playgrounds and playing fields.

There is a public house and local convenience store in the village, with the nearest supermarkets being located in Tamworth which also has a retail park which benefits from all major retail outlets for clothing, food and homewares. Tamworth snowdome is approximately a 15 minute drive away.

Am I eligible?

Shared Ownership uses the following criteria to help people get a foot on the housing ladder:- Maximum annual household income of £80,000

One of the following statements must also be true:

  • You’re a first-time buyer
  • You used to own a home but can’t afford to buy now
  • You’re forming a new household - typically after a relationship breakdown
  • You’re already part of the Shared Ownership scheme but want to move
  • You own a home and want to move but can’t afford the new home that meets your needs

Check your affordability

Use the Shared Ownership mortgage calculator to estimate the cost of buying this
home

Homes at this development can be purchased between 25% - 75% of the property's full market value.
You are able to buy more of your home through the Staircasing process, where you can purchase additional shares at this development in increments of 10%.
Please note, as a Shared Owner you are responsible for all repairs and maintenance within your home.

Next Steps

1

Information

For further information, please download our brochure below.

2

Apply now

Please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.

3

Affordability

Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.

4

Availability

Once you have passed the affordability assessment, we will then be in contact to confirm the availability.

5

Reservation fee

If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home. Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. 

It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property – this is known as ‘staircasing’. 

This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.

Available properties

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Frequently Asked Questions

Most buyers who can’t afford to buy a home outright can apply to buy through shared ownership.

We may also be able to help if you need to move because of a relationship breakdown or if your work requires you to live in an area outside your price range.

In order to buy through the Shared Ownership scheme, you must be able to demonstrate that you can afford and sustain home ownership. If you proceed with Shared Ownership you will be required to undertake an affordability assessment.

You must meet our adverse credit policy, if you have a history of adverse credit you are unlikely to be accepted depending on individual circumstances.

Shared owners still have to pay many of the usual costs involved in buying a home.

Reservation fee

We will ask you for a £250 deposit to reserve your chosen home. When the sale goes through we put this towards your purchase payments. However, we cannot refund it if the sale does not go through.

Mortgage deposit and fees

Most mortgage lenders will ask for a 5% or 10% deposit towards the price of the share you want to buy. They are also likely to charge a valuation fee and administration fees.

Legal fees

Solicitors’ charges can vary so it is best to get a few estimates. You will also have to pay Land Registry and local search fees, and may have to pay stamp duty depending on the value of the property.

After you've moved in

You also need to budget for the ongoing costs of owning a home.

Mortgage repayments

You will have to make monthly mortgage repayments to your lender. Depending upon the type of mortgage you have, these repayments may vary as interest rates change.

Rent

You pay a subsidised monthly rent to us on the share of your home which we own. The amount is reviewed on the 1st April each year.

Service charges

You will have to pay a small charge if your home has any facilities or communal areas which we maintain, such as shared entrance halls, lighting and grounds. Your service charge will also include your buildings insurance and your management fee.

Household bills

These include your council tax and utility bills for water, gas and electricity.

Repairs

We will arrange for any defects on new-build homes to be repaired during a set time period. After that time has elapsed, you will be responsible for arranging and paying for all repairs to your home.

Home contents insurance

We provide buildings insurance with the cost of your service charge but this does not cover your belongings. We strongly recommend you arrange your own home contents insurance.

Much will depend on your other financial commitments and what property/share you want to buy. We don't want you to be overstretched, so we need to be sure that you can afford to pay your mortgage and rent. We look at each application individually and will advise you on your options.

Shared ownership schemes are backed by government funding to help people on smaller incomes. So you will not qualify for most shared ownership schemes if your household income is less than £10,000 or more than £80,000 a year.

On the property listings for some of our shared ownership homes, you will see that we state a local connection to the area is required.

This generally applies in rural areas and small villages where land has been made available specifically for affordable housing to meet the needs of local people, rather than for private development.

These are known as ‘rural exception sites’ or 'protected areas' and are controlled by ‘Section 106 Agreements’. They aim to help local people and families afford homes in the area where they grew up.

The local connection criteria can vary between different developments, but is usually based on the following:

Applicant was born in the area and has lived there for a number of years applicant has permanently lived in the area for a number of years applicant used to live in the area for a number of years but had to move away because of the lack of affordable housing applicant has been permanently employed in the area for a number of years.The number of years is usually between 2 and 5, although this differs by local authority

Usually priority is given to applicants with a local connection to the parish. If there are still properties remaining, allocation will be opened up to surrounding parishes and then to the whole of the local authority area. This ensures that the homes are occupied by residents as local to the area as possible.

If you want to find out more about the local connection criteria for a particular development, or check if you qualify, please email sales@platformhg.com

Yes you can, once you have moved into your Shared Ownership property, providing you can afford it, you are able to buy more of your home through the process of Staircasing.