Shared Ownership

This brand new home is available to buy from as little as £172,500 with a 50% share!

Park Gate Village offers homebuyers a slice of country life in the heart of one of Cheshire’s most sought-after locations, that is on the edge of glorious countryside yet within easy reach of the North West’s major cities and the region’s renowned visitor and premier sporting and leisure attractions.

Close to Altrincham, Hale, Wilmslow and Alderley Edge, commuters are within easy reach of Manchester, Liverpool and Chester and benefit from great road and rail links. The development is within a mile of Knutsford train station and within minutes of the M6 and M56 motorways. It is also just 15 minutes from Manchester International Airport.

This brand new end of terrace home is built to the ‘Naylor’ design and has accommodation that features an open plan lounge/diner with separate kitchen, ground floor cloakroom, three bedrooms, bathroom, garden and two parking spaces.

PRICING & AFFORDABILITY

Full Market Value: £345,000

25% Share Price: £86,250 (rent £592.97pcm)
50% Share Price: £172,500 (rent £395.31pcm)
60% Share Price: £207,000 (rent £316.25pcm)
75% Share Price: £258,750 (rent £197.66pcm)

Minimum 5% Mortgage Deposit (25% share): £4,313
Approximate Estate & Service Charges: £37.44pcm*
Shared Ownership Lease: 250 years
Council Tax Band: TBC

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Park Gate Village you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

You must have a local area connection to Cheshire East in order to apply, qualifying criteria includes:

• Residents of the area of Cheshire East for 6 of the last 12 months
• Residents of the borough for 3 of the last 5 years
• Has immediate family living in the area (parent, sibling, child or adoptive parent or child) and have done so for at least 5yrs.
• Has a permanent contract of employment in the administrative area of the council.
• Is a member or the armed forces or former service personnel (within 5yrs of their discharge or bereaved spouse or civil partner of a member of the armed forces leaving services family accommodation following the death of their spouse or partner or serving or former member of the reserve forces who needs to move because of serious injury, medical condition or disability sustained as a result of such service

To be eligible for shared ownership in general you would need to meet the following criteria:

• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

^ Carpets are not included within the purchase price. All homes come with flooring to the kitchen and bathroom area only.

*Service charges are estimated and may subject to change.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Photos

3 bedroom end of terrace house for sale