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%.
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Mosley Common, 3 bed homes
Living at a price that's right for you.
This superb new development is thoughtfully designed to cater for family life. Enjoy large open plan kitchen/dining rooms perfect for entertaining and full width living rooms that cater to growing families.
This development perfectly balances traditional and contemporary, combining traditional elements such as bay windows with stylish, modern interiors.
Each home provides ample space for family life, with spacious bedrooms and ensuites.
Local area information
Explore the local area around Mosley Common
This fantastic new development in Wigan is just nine miles from Manchester, which is a 20 minute train journey from nearby Walkden station. This is a great location for those who enjoy close access to city life but don't want to sacrifice beautiful open countryside and outside space.
The Lake District, Peak District and North Wales are all less than an hour away. Families will benefit from a wide range of nearby schools, and nearby indoor skiing at Chill Factore.
The development provides quick access to the North West motorway network, situated off the A580 East Lancs Road, which offers quick access to the M60 Manchester Orbital, the M602/M62, the M61 and the M6. Salford and Bolton are both around 7 miles away, Wigan is 13 miles and Liverpool is 28 miles. Manchester Airport is 15 miles away.
Min share price from: £80,000 for a 40% share
Full price from: £200,000
Minimum deposit from: £3,400
Monthly rent from: £275
There are 2 available ranging from £80,000 for a 40% share to £84,000 for a 40% 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.