Question 1

Why buy through shared ownership in Macclesfield?

Accepted Answer

Shared ownership is a great way to get on the property ladder, particularly in a desirable location like Macclesfield. It makes buying more affordable, so you can choose a better home in a better location without overstretching yourself financially. Let’s look at how it works.

Question 2

What is shared ownership?

Accepted Answer

With shared ownership, you buy a share in your home rather than buying it outright. Torus owns the remaining share, and you pay a reduced rent on that share. At The Old School House in Macclesfield, you can buy from 10% to 75% of your home’s value, initially.

Question 3

Can I buy more shares later?

Accepted Answer

Yes, you can carry on buying more shares in your home, if you choose, until you own it 100%. When you buy more shares, the rent you pay goes down. And, once you own 100% of your home, you don’t pay rent at all. Service charge will still be payable.

Now is the time to see what share you can afford to buy. We have a handy online calculator that helps you find out how much of a home you can afford and what your monthly costs will be.

Question 4

Who can buy through shared ownership?

Accepted Answer

You can apply to buy a home at The Old School House through shared ownership if:

• Your household income is £80,000 a year or less. 
 • You can’t afford all of the deposit and mortgage payments for a home that meets your needs. 
 
One of the following must also be true for you:

• You’re a first-time buyer. 
 • You used to own a home but can’t afford to buy one outright now. 
 • You own a home and want to move but can’t afford a new home suitable for your needs. 
 • You’re forming a new household – for example, after a relationship breakdown. 
 • You’ve already bought through shared ownership and want to move. 
 
There are other things you may want to read about. On our Main Torus Homes website there is lots of useful information. Click the button below to find out more about buying a home with us.

What is Shared Ownership?

About Shared ownership