The Benefits of Buying a Shared Ownership Home at The Old School House, Macclesfield

What Is Shared Ownership?

Shared Ownership is a government-backed scheme designed to help buyers who cannot afford to purchase a home outright. Rather than buying the full property, you buy a share (ranging from 10% to 75%) of your new home. The housing provider, Torus, owns the remaining share and you pay a reduced rent on that portion. This structure makes homeownership much more attainable, especially in desirable areas like Macclesfield.

At The Old School House, you'll have the opportunity to buy a home at a price you can afford, with the flexibility to increase your ownership share over time. And, when you eventually own 100% of your property, you’ll no longer pay any rent.

How Shared Ownership Helps You Afford Your Dream Home

One of the most significant advantages of Shared Ownership is the affordable entry point it offers. Macclesfield, with its stunning countryside views, excellent schools, and great connectivity, is an area that many dream of living in. However, as with many desirable locations, property prices can be challenging to manage for first-time buyers or those without substantial savings. Shared Ownership helps to solve this by:

• Lower Deposit & Mortgage: You’ll only need a deposit and mortgage for the percentage of the property you own, rather than the entire value. This significantly reduces the amount you need upfront.

• Affordable Rent: The rent you pay on the remaining portion of the property is much lower than the rent you would pay for a typical rental property. This means your monthly outgoings can be more manageable.

• Flexibility: If your financial situation improves over time, you can choose to buy additional shares in the property, reducing the rent you pay and bringing you closer to owning your home outright.

  
  

At The Old School House, you can buy an initial share ranging from 10% to 75%, and as your circumstances change, you can gradually increase your share until you own 100%. It’s a flexible and affordable way to buy your first home in a prime location.

Step-by-Step Journey to Full Ownership

One of the unique aspects of Shared Ownership is the ability to staircase meaning you can increase your share of the property as you’re able to afford it. Whether you’re starting with a 25% share or 75%, the option to buy more shares over time means you have full control over your homeownership journey. The more shares you buy, the less rent you pay, and eventually, once you own 100% of your home.

This gradual path to full ownership gives you time to build up savings, and it means you don’t have to take on a massive mortgage right away. Plus, Macclesfield’s prime location means that property prices are likely to increase over time, making this a great opportunity to invest in a future-proof home.

A Great Opportunity at The Old School House

If you’ve been dreaming of owning a home in Macclesfield but have been deterred by high property prices, Shared Ownership at The Old School House offers the perfect solution. With an affordable initial share, low deposits, and the flexibility to increase your ownership over time, this scheme provides a clear and manageable pathway to homeownership. Plus, you’ll be enjoying the beautiful surroundings and vibrant community of Macclesfield, all while securing a property that’s both a smart investment and a lovely place to call home.

Get in touch today to learn more about Shared Ownership opportunities at The Old School House and take the first step toward your dream home.