Solo Homes in conjunction with Progress Housing are delighted to bring to the market 23 x 2 and 3 bed houses available on a shared ownership basis on their new development at Cottam. The first houses available from January 2021 are a mix of 3 bed house types with prices from £76k for a 40% share. Get on or stay on the housing ladder with a 5% deposit from as little as £3,800 based on a 40% share. Canberra Lane Cottam is a new development which is being developed by Countryside and being brought to the market by Progress Housing. Situated in the sought-after district of Cottam which is on the outskirts of Preston, Canberra Lane offers rural living whilst being only three miles from city life in Preston. The development has excellent road links to the north and south of the country via the M6 motorway and is close to the M55. Nearby there are some walking routes for lovers of the outdoors and some excellent restaurants and bars. There is a wide range of local educational facilities, including Cottam Primary School and Archbishop Temple School Fulwood. All of the homes benefit from good proportions and are perfect for modern family living.
The Weaver - Semi-Detached home
The Weaver is a beautifully designed, 3 bedroom family home. The downstairs offers an open plan kitchen/dining area with a range of contemporary fitted cabinets with some integrated appliances. To the rear of the house the living room has a set of French windows which overlook and open onto the back garden, creating a light and spacious environment. The upstairs of the property, features a large master bedroom with ensuite shower room, two further bedrooms plus an additional family bathroom, offering the perfect space for young couples and families alike. Images are demonstrative of this property type. The images are therefore not plot or site specific and spec may vary slightly.
A stylish range of fitted units and extensive work surfaces
Integrated stainless steel oven and hob
Chimney hood and splash back to hob
Contemporary white sanitary ware and chrome fittings
Stylish porcelanosa tiles
Vinyl in kitchen, bathroom and cloakroom
Turfed front and rear gardens
TV and telephone points in living room and master bedroom
NHBC new homes warranty
Shared Ownership - How It Works And How You Start The Application Process.
Shared Ownership allows you to buy a share in a new home, ranging from 40% to 75%, depending on what you can afford. Progress Housing will own the remaining share, and you pay a reduced rent on that share. This means that you will need a smaller deposit and mortgage than if you bought a property outright. Generally you are able to buy a bigger property than you may otherwise be able to afford You can buy more shares as and when you can afford them - this is called Staircasing - and as you buy more shares, you will pay less rent. You can eventually own 100% of the property if you want to, at which point you will pay no rent at all. Your monthly payments could be less than renting privately. A service charge of £20pcm (to be confirmed) is payable for maintenance of any common areas and to cover buildings insurance. As a home owner, you will be responsible for the maintenance and repairs on your home. However as it is a new build, your property comes with a 10 year NHBC guarantee and many of the appliances will have a 2 year manufacturers guarantee giving you peace of mind.
You can apply to buy one of these homes by filling in an online application form on the Help to Buy North West website where the properties are listed. Housing will undertake an affordability assessment with you and can provide details of Independent Financial Advisors who can assist with obtaining a mortgage. Detailed below is an indication of the price of various shares and the rent payable on the unpurchased equity.
Price & Rent Calculator – The Weaver semi £196,000
40% share price £78,400 and rent of £269.50pcm
50% share price £98,000 and rent of £224.58pcm
60% share price £117,600 and rent of £179.66pcm
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