2 Iron Avenue, PR2 7AZ

Auxesia Homes offer this 3 bedroom 'Tanner' property for shared ownership sale, in collaboration with Bellway Homes due for completion approx. September 2024.

The 1000+ sqft property is angled on the corner giving a unique layout, the home features a separate living room with patio doors giving access to private rear garden, large kitchen with modern integrated appliances, WC, two double bedrooms, master with ensuite shower room, a single bedroom, and a family bathroom.

Cotton Woods is well situated to take advantage of the area’s excellent transport links with both local road links and extensive rail services nearby.

The A6 is just over two miles away via the B6241 and runs from Carlisle in the North to Luton in the South, passing Manchester city centre en route. The M55 joins the M6 in less than 10 minutes from the development, allowing northward travel past Lancaster and Carlisle, or southward towards Manchester, Liverpool and Birmingham. The M65 and M61 can both be reached in under 20 minutes via the M6, with the M61 allowing travel past Bolton and Chorley.

The advertised price of £107,500 represents a 50% share of the property. Rent would therefore be payable on the outstanding 50% share, set at 2.75% per annum. Based on a 50% share, rent would equate to an additional £246.35 per month on top of any required mortgage. You may purchase up to 75% of the total property price upfront.

What is Shared Ownership?

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. Buy between 25% - 75% of a home normally with a mortgage and a reduced deposit, and pay a low-cost rent on the remaining un-purchased share.

Am I eligible to buy a home with shared ownership?

The eligibility criteria for shared ownership is simple; as long as you don't currently own, or won't own another property when you move in to a new home, you're likely to qualify. Your annual household income must not exceed £80,000 and you'll need to have savings to cover typical purchasing costs such as solicitors fees and your mortgage deposit.