Why buy through shared ownership in Sale, Manchester?

Why buy a shared ownership home in Sale, Manchester?

You might be wondering if shared ownership is for you – and particularly why buy a shared ownership home in Sale, Manchester. We can help with some pretty quick answers to those questions!

Who is shared ownership for?

Wherever you want to live, shared ownership is a great way to get on the property ladder. It’s a part-buy, part-rent solution with a route to fully owning your home eventually.

Great for first time buyers who want to live in Sale, Manchester, and especially for key workers such as those in the NHS or working for essential services like the council or emergency services, shared ownership is a strong option to help you own a home. 

And shared ownership isn’t just for first time buyers. It can also be an option for people who have suffered a relationship breakup or who are looking to downsize. 

How shared ownership works at Tatton Place, Sale

Tatton Place is GECKO Homes’ latest shared ownership development, right in the heart of Sale, Manchester. Buying a home here through shared ownership is simple. You buy a proportion of the home with a mortgage and pay rent to GECKO Homes on the remaining share. 

One big advantage is the smaller deposit. It’s based on the percentage of the property you’re buying, so it’s less than if you needed a deposit based on the full value. 

If you were buying a 50% share of a home valued at £200,000, you would need a £10,000 deposit, which is a 10% deposit based on the £100,000 value of the share you’re buying. 

If you want to buy more shares in future, you can. Eventually you can buy all of the shares to entirely own your home.