Equity Housing Group and Equity Living proudly present to the market ‘Harrogate Road’ a brand new residential development consisting of 14 larger than average new build redbrick houses and townhouses for shared ownership. There are nine three bedroom homes and five four bedroom homes.
Located off Harrogate Road, and ideally situated for access to public transport links, Stockport Town Centre and Manchester City Centre and surrounding motorway links. Situated just over a mile away from Heaton Moor & within walking distance of Houldsworth Square, with a selection of local schools on the doorstep this makes Harrogate Road an attractive and desired location for families, and professional couples wanting to get on to the property ladder.
Each plot has been thoughtfully designed giving maximum living space whilst being open and airy. Each property boasts an en-suite bathroom to the master bedroom. Every home will come with modern & sleek fitted kitchens & bathrooms, all decorated in stylish greys & whites. With two parking spaces per property and individual walled/ fenced gardens the development will be a stunning addition to the local area.
- Rent is calculated at 2.75% of the unsold Equity per annum. All rent calculated below is based on a 50% share. You can purchase up to 75% initially and then staircase to own it outright eventually.
- YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
- Please note there is an additional monthly charge of £20.84 for management and buildings insurance. Service charge to be confirmed.
- All properties are leasehold for 125 years.
This information is for a range of properties we currently have available for sale on this development. Pricing and availability information is for guidance only and is not intended to constitute a contract and may change without notice. We reserve the right to amend the specification, as necessary, without prior notice to an equal or higher standard. All images and floor plans are for information and illustration and are indicative only
What is shared ownership?
Shared Ownership is a specially designed scheme to allow more people to get onto the property ladder. It helps first time buyers into their first home and also helps people to buy after a change in circumstances such as a relationship breakdown or a change in financial circumstances. It also allows people to move into a bigger home they could not afford to buy outright, i.e moving from a 3 bed to a four or from an apartment to a house.
How does it work? Shared Ownership works by enabling you to buy a share in your new home that you can afford, and pay a rent to Equity Housing Group on the part you don’t. You can buy further shares in your home when you can afford to, this is known as Stair-casing and in most cases you can do this until you own your home outright if you choose.
Why buy through shared ownership? You will own part of your home, rather than renting meaning you have something to show for your monthly payments. Your monthly mortgage and rent might be more affordable than you think, it’s worth checking.
You only buy what you can afford, so you don’t overstretch yourself financially. You will have our support throughout the buying process, we understand that there is a lot for you to arrange and we will be in regular contact with you to help make sure that your purchase is progressing as expected.
We can also provide you with details of solicitors and Independent Financial Advisors that deal in shared ownership.
What am I buying?
Buying through Shared Ownership is designed to be a stepping stone to completely owning your own home. It means that you buy a share of a property and rent the remainder. You are buying a share in your new home, your lease is a legal document that proves you own part of your home your lease sets out:
- Your rights and responsibilities
- What to expect from us
- Details of rent and service charge reviews you will become a leaseholder and will have the same rights and responsibilities as a full owner occupier.
What costs are involved in buying my own home?
Mortgage arrangement costs - we can provide you with details of some local solicitors and Independent Financial Advisors (IFA) who have expertise in Shared Ownership. Depending on the lender you choose, there may be a fee as part of the mortgage application or mortgage valuation process.
Your IFA or lender will be able to give you more details on fees that will be applicable to the mortgage you are considering. Please also ask the IFA assisting you with your mortgage application whether any fees are charged for their advice.
Deposit - The amount of deposit you will need depends on the value of the property and the share that you buy. Depending on your circumstances and credit history, some lenders only require a 5% deposit of the share that you are buying.
Solicitors fees - We will provide you with details of solicitors who have experience of Shared Ownership, however you are not obliged to use them.
Your solicitor will be able to give you a quote for their work including break down of cost Reservation Fees - Once your application has been approved you will be invited to pay a non-refundable £250.00 reservation fee (only applies if the sale is cancelled by you) to reserve your plot, however on completion of the sale the fee is refunded back by way of deduction from the completion price.