Shared Ownership in Bury
Across England, the Government supports a range of schemes to support affordable home ownership. All official schemes outside London fall under the homebuy brand of government backed affordable home ownership. The most established scheme is shared ownership, otherwise known as part buy part rent but there are also shared equity schemes (e.g. Firstbuy), and rental products, including rent to buy. For more detail on the specific homebuy schemes available in Bury click on the tabs at the bottom of the page. In addition, at sharetobuy.com there are a range of options open to people wishing to research their affordable housing options:
- To search for shared ownership properties for sale in Bury, use the search tool on the left hand side of the page or click here to go straight to search results in Bury. If you cannot find anything that suits your needs at this time we are constantly adding properties and you can register to receive property alerts whenever we do so.
- If you are looking for a shared ownership solicitor in Bury, you can find solicitors on the sharetobuy.com panel with huge experience of the various homebuy schemes.
- Share to buy are also authorised mortgage brokers and you can use our mortgage tool to compare products available for part buy part rent purchases. See our shared ownership mortgages.
Search for properties in Bury
These are examples of properties that are currently available in Bury. Click here to search for all properties in Bury.
20th November 2017
Is saving for a deposit holding you back from moving in to your own home? Saving money can be hard, but with these ten money saving apps available at your fingertips, you’ll soon discover how to put away the pennies and you’ll be ready to move in no time.
20th September 2017
Shared Ownership Week returns for its fifth year, 21st - 27th September. Shared Ownership week raises awareness this home ownership scheme which offers a life line to thousands of first time buyers.
Part buy part rent in Bury
The longest-running affordable home ownership scheme is 'shared ownership', and this is often referred to as 'part buy part rent' because you literally buy part of a property and then pay rent on the remainder. Thus, the product can be seen as literally offering a stepping stone between renting and buying. When you part rent part buy a home, the share can start from as little as 25% and the rent on the remaining share is usually capped at an affordable amount usually in the region of 2.75%. If you consider that availability of mortgages with a 5% deposit has historically been strong in the shared ownership scheme, you can potentially put down just 5% of 25% of the purchase price and as you may often not have to pay the purchase tax known as stamp duty, it makes the total cash you need typically far lower than buying on the open market. Another strong feature of the part buy scheme in Bury and elsewhere is that there is an established second hand market of part buy part rent homes. Although most properties are available on a new build basis, over time, these properties can be sold on to new buyers and if the owner has not yet bought 100% of the property they can offer their existing share for sale on a second hand basis in a process known as a 'resale'. Search sharetobuy.com for part buy part rent properties in Bury and across England.
Bury is a town in Greater Manchester. It lies on the River Irwell, 5.5 miles east of Bolton, 5.9 miles west-southwest of Rochdale, and 7.9 miles north-northwest of the city of Manchester. Bury is surrounded by several smaller settlements, which together form the Metropolitan Borough of Bury, with Bury as the largest settlement and administrative centre. Bury is located on the edge of the western Pennines in North West England in the northern part of the Greater Manchester Urban Area. The River Irwell flows through the town and this position has proved important in its history and development. Flowing from north to south the river effectively divides the town into two parts on the east and west sides of the valley respectively. The town centre sits close to and above the river on the east side. Bury Bridge is a key bridging point linking the east side of town and the town centre to the western suburbs and Bolton beyond. Other bridges across the river are limited - there is one at Radcliffe Road to the south and at Summerseat to the north. There is also a bridge at the Burrs but this serves a cul-de-sac and does not allow full east–west access. To the south the main tributary, the River Roch, flowing from the east, joins the Irwell close to another significant bridging point, Blackford bridge. This carries the main route south, now the A56, towards Manchester.Historically a part of Lancashire, Bury emerged during the Industrial Revolution as a mill town centred on textile manufacture. Bury is regionally notable for its open-air market - Bury Market - and its popularity has been increased since the introduction of the Manchester Metrolink tram system, which terminates in the town. The market is known for its supply of a local traditional dish - black pudding, served hot or cold and can be eaten either as a takeaway snack, or more commonly as an accompaniment or main ingredient of a meal starter or main course. One of Bury's most notable residents was Sir Robert Peel, Prime Minister of the United Kingdom, founder of the Metropolitan Police Service and the Conservative Party. A monument to Peel is outside Bury parish church and another, the austere Peel Monument, stands on a hill overlooking the locality.