News

Affordable home ownership comes to Northwich

February 23rd 2017

North West housing group, Torus, is giving local home buyers with their eyes on the village of Davenham an opportunity to snap up a spacious two or three bedroom home through their affordable shared ownership product – part rent, part buy.

The impressively styled mews homes, located on the Hill Top Grange development just outside Northwich, are aimed at people who would like to buy a new home but feel priced out of the market.

Helen Reddington, head of Torus new home sales said: “Rising house prices in Northwich have prevented many people from being able to buy a home on the open market.

“We specialise in affordable new homes for people at every point of the property ladder from first time buyers to downsizers.

“Our new homes are available through shared ownership. You buy a share of the property that you can afford and pay a low rent on the rest. This means that purchasers need a lower deposit and mortgage and can be cheaper than renting.”

Shared ownership is available for households with annual incomes of less than 80,000. It enables people to buy a new home without over-stretching themselves financially then buy more shares in the property as and when they are able.

For example, a 50% share of a 3 bed home with a market value of £210,000 would require a deposit of £5,250. [Example for illustration purposes based on 5% mortgage product.]

Helen added: “We are anticipating a lot of interest in our affordable new homes and urge anyone who lives or works in Davenham or Moulton, or has a family connection to the area, and is interested in buying to get in touch quickly. People living in either parish will be given priority initially.”

For further information on Torus new homes at Hill Top Grange, to arrange a viewing or to find out if you are eligible, please call 07766 093997 or email newhomes@wearetorus.co.uk.