Affordable homes are here
With finances tight, getting on the housing ladder may seem like an impossible dream. But new affordable housing, springing up across Manchester as part of the city’s regneration, is bringing that dream within reach.
Building companies have teamed up with other agencies, including Manchester City Council, to offer special deals, interest-free loans and try-before-you-buy packages.
Whether it's a one-bedroom apartment or a family home, there are options out there. Have a look at these great new developments:
Redrow Homes, Harpurhey and Moston
More than 400 traditional-looking family homes are being built across six sites - starting with Hanson Gardens in Moston. Redrow are offering a shared equity scheme, run by the Council, to help people own their first home.
Would-be buyers can defer 25 per cent of the purchase price for up to ten
years, but would still own 100 per cent of the property.
Go to: Redrow
Homes website
Lowry Homes, The Maine Place, Moss Side
Lowry's 312-home development at the site of Manchester City 's former Maine
Road stadium offers a similar shared equity scheme. Its Homebuy Link
initiative lets you pay 75 per cent of the purchase price, with the rest
made up as an interest-free equity loan for up to five years.
Go to: Lowry
Homes website
Urban Splash, Chips, New Islington,
Urban Splash, Three Towers, Collyhurst
Chips, has striking-looking apartments at the heart of the flagship New Islington development. The Three Towers are former Council-owned blocks that have been given the Urban Splash treatment and converted for owner-occupiers.
Buy from 25 per cent to 75 per cent of the property, and renting the
remaining share at 2.75 per cent a year. There’s also a rent-before-you-buy
option to rent an apartment at 80 per cent of the market rent with an option
to buy at any point within five years.
Go to:
Urban Splash website
And more
Other affordable housing options include the Zest development in Newton Heath, The Way in Beswick and Westbury Gardens in Openshaw.
More about low-cost homeownership
Find out more about these special low-cost schemes work, and about Plumlife, the local not-for-profit company that can put you in touch with the best package for you.
Hanson Gardens, Moston
The Maine Place, Moss Side
Chips, New Islington
Three Towers, Collyhurst