Manchester City Council

Councillor Sheila Newman

Our sympathies are with the family and friends of Councillor Sheila Newman, Executive Member for Children’s Services and current Lady Mayoress of Manchester, who passed away last night.

Read our tribute.

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Homes & property Low-cost home ownership

Owning a home could be cheaper than you think

Before you start: Home ownership may not be the only way for you to get a home; before you start, see how to increase your housing options.

Shared ownership

Many people can't afford to buy a home on the open market. It can be an expensive commitment.

But there are some interesting new ways to help bring home-owning within reach. For example a 'shared ownership' scheme means you buy a share of a property, and pay rent to a not-for-profit organisation for the remaining share.

The best place for information about schemes like this is an organisation called Plumlife. They've been appointed by the government as the leading not-for-profit agency offering low-cost homes s in our area.

The chance to buy

Plumlife say: "We offer help to those who cannot afford a property with just a commercially-available mortgage.

"In general, we can offer people who meet the necessary criteria, the chance to buy a home for between 25% and 75% of its market value. We own the rest of the property and charge you rent on this proportion. This works out cheaper than buying 100% . . . and you can buy more of your home later, when you can afford it."

Plumlife have a whole host of other schemes, all designed to help people get into home ownership. Find our more on the Plumlife website.

 

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