Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Beacon Place


Cowley Close, Preston, Wyre, PR3 0QD

Shared ownership
3 bedroom homes
35% share from
£57,750
Full price
£165,000
Minimum deposit
£2,888
Monthly rent
£246
Monthly service charge
£13

Overview

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Welcome to Beacon Place, a contemporary collection of three bedroom homes located in Catterall, Wyre. Part of a larger Miller Homes development, Beacon Park.

What is Shared Ownership?
Shared Ownership is a part-buy, part-rent scheme for people who can't afford to buy a home with a commercially-available mortgage. It's backed by the government, and is a way to buy a share in a home now with the option to buy more of it in the future. You'll need a minimum level of income/savings depending on the value of the home you want to buy.


Local area information

A small village with a big sense of community, Catterall is a welcome home for old and young alike looking for a great quality of life. Nestled in rich countryside, yet with easy access to both road and rail, it’s easy to understand why we chose this quaint village for our Beacon Place development.

The peaceful setting is complimented by a number of amenities right on the doorstep, including Sainsbury’s, Coop Food, Garstang Golf Centre and Barton Grange Garden Centre. There are also several schools in the area, making the neighbourhood a great place for any growing family.

A short drive away, the historic market town of Garstang offers further amenities including a high street and a delightful weekly market, which has runs every Thursday.

For those that enjoy keeping fit, the surrounding countryside is a perfect setting for walkers, runners and cyclists alike. For those who prefer to exercise indoors, local gym, Fenton Fitness, provides a wide range of facilities, including cardio machines and free weights.

Once you’ve worked up an appetite, you’ll be pleased to learn that the village isn’t shy of great food, with Cedar Restaurant and Slice of Sicily proving popular with local residents.

If you’re looking for a location that combines tranquility and convenience, and with easy access to the city, Catterall could be the home for you.


Plot availability

Plot number 35, 55, 56, 59, 124
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £57,750
Full market price £165,000
Monthly rent £246
Monthly service charge £13
Ownership Leasehold

Kitchens

• Contemporary Symphony fitted kitchen ranges

• Zanussi electric oven, gas hob and extractor hood

• Integrated fridge freezer

• Spotlights to ceiling and under cabinet down lights

• Polyflor Expona luxury flooring

Bathrooms

• Modern white bathroom suite

• Modern Porcelanosa wall tiles

• Chrome heated towel rail     

• Polyflor Expona luxury flooring

General Features

• Telephone and TV points to the lounge and master bedroom

• TV Cabling provided

• 10 year NHBC New Homes Warranty

• Double glazing

• Turfed rear garden

• Allocated parking

• Smoke and heat detectors

• Gas combi boiler

Plot number 58, 60, 123, 125
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £58,625
Full market price £167,500
Monthly rent £250
Monthly service charge £13
Ownership Leasehold

Kitchens

• Contemporary Symphony fitted kitchen ranges

• Zanussi electric oven, gas hob and extractor hood

• Integrated fridge freezer

• Spotlights to ceiling and under cabinet down lights

• Polyflor Expona luxury flooring

Bathrooms

• Modern white bathroom suite

• Modern Porcelanosa wall tiles

• Chrome heated towel rail     

• Polyflor Expona luxury flooring

General Features

• Telephone and TV points to the lounge and master bedroom

• TV Cabling provided

• 10 year NHBC New Homes Warranty

• Double glazing

• Turfed rear garden

• Allocated parking

• Smoke and heat detectors

• Gas combi boiler


FAQ's

Min share price from: £57,750 for a 35% share
Full price from: £165,000
Minimum deposit from: £2,888
Monthly rent from: £246
Bedrooms: 3
Bathrooms: 1

There are 2 available ranging from £57,750 for a 35% share to £58,625 for a 35% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

Yes, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Plumlife
Shared ownership
3 bedroom homes
35% share from
£57,750
Full price
£165,000
Minimum deposit
£2,888
Monthly rent
£246
Monthly service charge
£13