OF the 27 apartments for sale at the Royal Oak development in Stockport only nine remain.
People are realising that buying here is cheaper than renting and the way it is structured means they can get the funding they need.
The sales team had 35 inquiries last week which shows just how much people want a home of their own that is affordable.
The deal at Royal Oak is shared ownership so you can buy 60% of the property and pay rent on the remainder.
For example you can buy a share of a two bed with a full market value of £96,250 for £57,750 and the monthly payments of mortgage/rent/maintenance charge will be £549. You also have to be able to find a 5% deposit.
You can get shared equity deals where the monthly payments are less but you have to be able to get approval for a bigger mortgage.
Shared Ownership allows banks to take less of a risk which in turn enables more people to get the mortgage they need.
Marketing manager Emma Lafferty said: “People are realising that buying here is cheaper than renting and the way it is structured means they can get the funding they need.
“And there is obviously a huge demand, not just from first time buyers, but from all kinds of people who want to leave the rental sector and buy a place of their own.
“We know it is a good scheme but the response has been amazing.”
The building is due to be complete by the end of May by which time the last nine apartments, all two beds, will undoubtedly have sold and the first residents are due to move in in June.
If you want more information fill in the form below and the sales team will be in touch to explain more.
Enquiry form
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