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%.
With Help to Buy available, owner occupiers can purchase at Fabrick with a deposit of just 5% topped up by a 20% Government Equity Loan. With prices starting at £135,000 that’s a deposit of just £6,750, with no Stamp Duty to pay if you’re a first-time buyer:
Purchase price: £135,000
5% deposit: £6,750
Help to Buy loan: £27,000
Approx. repayments: £410 (subject to mortgage terms)
Fabrick is a new 184 one and two bedroom apartment development available through Shared Ownership.
- Multi award-winning developer
- Best-in-class specification
- Engineered hardwood flooring in kitchen/ living areas
- White gloss soft-close kitchen units with granite worktops
- Integrated Bosch appliances; designer bathrooms
- Nest Learning thermostats
- 1GB Hyperoptic broadband
Residents also enjoy access to a club lounge and stunning roof top terrace with far-reaching views.
Homemaker - We Build the Space, You Make It a Home
We know how much of a strain on the finances buying a home can be. You have to raise a deposit, then there’s solicitors fees and removal costs to consider. All this can leave you out of pocket.
We’re offering buyers our Homemaker furniture contribution to help you to transform your apartment into a home. We’ll even take care of delivery and installation so you don’t have to!
Local area information
With its quaint village appearance and cosmopolitan vibe, Cheadle Hulme is just eight miles from Manchester City Centre and five miles from Manchester Airport. There are a variety of local restaurants such as the ever-popular Gusto and great pubs such as The John Millington and Chiverton Tap. Platform 5 is a trendy coffee house come bar next to the train station and there is a John Lewis, Waitrose and Morrisons to satisfy food and homeware needs.
Located on Warren Road, Fabrick sits just two minutes’ walk from Cheadle Hulme station for a 16-minute train journey to Manchester Piccadilly and Stockport six minutes. The new £800m Airport City Manchester development (Manchester Airport) is just 10 minutes’ drive and the intu Trafford Centre, the UK’s third largest shopping centre, 20 minutes, for the best shopping in the North West.
For more developments available through Help to Buy and Shared Ownership in Manchester, view our list of properties.