Manchester Home Show Sponsors: Meet L&Q
Rising house prices in the North West: What’s available for first time buyers
It’s no secret that stepping onto the property ladder in the current market is becoming increasingly difficult – especially in the North West, where house prices have surged by 5.3%, 2% higher than the national average.
At L&Q, we have a variety of options available to support a range of buyers on their homeownership journey. Across the North West, we currently have homes available through Shared Ownership and Market Sale, as well homes coming soon through Rent to Buy, giving our customers the choice to find a home that best suits them.
Ahead of the inaugural Manchester Home Show on May 31st, we’ve created our guide with an overview of each scheme, to help our customers feel prepared ahead of the event.
Shared Ownership
Designed with first time buyers in mind but available to anyone eligible who does not currently own a home and is priced out of the market, Shared Ownership is a government-backed scheme offering an alternative route to homeownership. Buyers can purchase a share of a home from 25%, paying a mortgage on their share and rent on the rest. Over time, they can buy additional shares through ‘staircasing’ until they own 100%.
This scheme is available at several L&Q developments, including L&Q at Victoria Riverside, D’Urton Grange and Whalley Manor.
Rent to Buy
Coming soon to selected L&Q developments is Rent to Buy. This is a government-backed scheme for eligible people who cannot afford to buy through Shared Ownership or on the open market, offering rents set at around 80% of a similar property on the open market, enabling people to save up for a deposit by renting at a discounted rate. Stay tuned for the launch of our Earlsbrook development in Cheshire, offering three to five bedroom homes exclusively through Rent to Buy.
Market Sale
If you’re looking for a more traditional route to hopping on the property ladder, Market Sale is available at Whalley Manor, D’Urton Grange and Saxon Fields. This way of buying entails a buyer purchasing the entire property outright or with a mortgage.
Buying with L&Q
Some of our most popular developments in the North West include two to five bedroom homes set in the rolling hills of Ribble Valley at Whalley Manor, available through Shared Ownership for as little as £63,750 for a 25% share of a two bedroom home. For those craving the city atmosphere, L&Q at Victoria Riverside is set in the heart of Manchester’s Victoria North area and offers two bedroom apartments through Shared Ownership for £61,875 for a 25% share.
If you’re interested in life at Whalley Manor, L&Q at Victoria Riverside, D’Urton Grange or Saxon Fields, you can now benefit from a £99 reservation fee and enjoy exclusive offers* at your chosen development!
Visit L&Q at the Manchester Home Show to find out more and chat to the team.
Attend the Manchester Home Show
Tickets for the Manchester Home Show are free, but visitors must register in advance to attend. For more information, or to reserve your place, please visit the Eventbrite page.
Share to Buy lists thousands of affordable properties across the country, including those available through Shared Ownership, Rent to Buy, and Discount Market Sale. Learn more about the different buying and rental schemes available today.
