News

Torus opens the door to affordable home-ownership in Sutton

May 29th 2018

Torus, is giving home buyers an opportunity to snap up a spacious two or three bedroom home in St Helens through their affordable shared ownership product – part rent, part buy.

To celebrate the opening of the new show home at the development, the sales team is hosting a viewing weekend on Friday 1st of June and Saturday 2nd of June, between 10am and 4pm.

Homes on the second phase of the popular Treetops development have already generated a great deal of interest. Head of sales, Jeanette Grady explains that this is partly down to the affordability of the shared ownership offer and the superb design of the two and three homes available.

Jeanette comments: “There’s been a lot of interest in our homes at Treetops. A number of people have already reserved ‘off plan’ and many more are keen to get inside and take a look.

“Visitors to our show homes are always surprised by the generous sizes of our properties and impressed by all that’s included in our standard specification. These really are family friendly homes that will appeal to a range of buyers, including those looking for their first home, expanding families and mature households looking to downsize to a smaller, easy to manage home.”

The hub of the 3 bedroom ‘Maple’ show home is a generous open plan living, dining area to the rear of the house with patio doors that open out to the back garden. A separate kitchen is located at the front of the property. Downstairs also benefits from a large WC cloakroom. The first floor has two good sized double bedrooms and a large single bedroom, along with contemporary family bathroom.

Prices at Treetops start from as little as £60,000 thanks to Shared Ownership (based on a 50% share of a 2 bedroom ‘Cedar’ house type with an open market value of £120,000).

So, how exactly does Shared Ownership work? Jeanette explains: “Rising house prices in St Helens have made it difficult for many people 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. Shared ownership enables you to buy a share of the property that you can afford, typically between 50% and 75%, and pay a low rent on the rest. This means that purchasers need a smaller deposit and mortgage and it 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, eventually owning 100% of the property if they wish.

For example, a typical purchaser with a 5% deposit who wished to buy a 50% share of a 2 bedroom house with a market value of £120,000, would require a deposit of £3,000 and a mortgage of £57,000.” Example for illustration purposes only, criteria apply.

Show home viewings at Treetops are now available to book on 07766 093997. Alternatively email: newhomes@wearetorus.co.uk