New initiative offers affordable housing

Gladedale is offering an affordable housing scheme at its new Gin Pit Village development in the picturesque suburb of Astley to help first time buyers get a foot on the property ladder. The initiative is in conjunction with Wigan Council and was designed to allow people with low and moderate incomes purchase an equity share of a property in the private sector.

The initiative enables housing to be sold at discounted prices of the full market value. For example a £100,000 home, with a 25% discount, will be offered to qualifying applicants for £75,000. The buyer would therefore own 75% of the property and once they have fully purchased it, they can apply to increase their equity share up to 100%.

Those who can apply are people who live, work or have a long-standing family connection to the borough of Wigan or cannot afford to buy a suitable home in the locality but have sufficient finances to fully fund the discounted equity share value of the home with a mortgage.

“We do everything we possibly can to help first time buyers find the right home for them and at the same time, we make sure they’re not living out-with their means,” said Julie Davies of Gladedale. “Buying a home is a big decision and it’s important to Gladedale that we help buyers along every step of the way.”

Homes available through the affordable housing scheme at Gin Pit Village include two bedroom apartments and three and four bedroom homes.

A two bedroom apartment at the development would normally cost £134,950 but through the affordable housing scheme – and following an assessment of personal and financial qualifying criteria – buyers could receive a discount of up to 50%, making the price tag just £70,174.

Those interested in the scheme can apply by completing an Affordable Housing Scheme application available from Gladedale at its sales office at the development or a Housing Options Property Shop.

Julie said: “The scheme is a fantastic way of helping young people to invest in their own future and we hope that as many people as possible take advantage of this as soon as they can as there is only a selection available.”

Chosen by Gladedale for its charming village feel, Gin Pit Village is one of the most sought-after locations in Britain which is testament to its prestigious ‘village green status’ award.

Gin Pit Village is near the A580 and M60 and is within easy reach of Atherton train station, making commuting to Manchester and beyond very accessible. Manchester Airport is also nearby, just 13 miles away.

A range of every day requirements and amenities nearby include schools, a nursery, essential shops and pubs. Tyldesley is only a short drive away and has a selection of youthful shops and small businesses. The town also has an offering of bars and restaurants to suit varied tastes.

Before the affordable housing scheme discount, prices at Gin Pit Village are £134,950 for a two bedroom apartment and townhouses at £175,000.

For more information, visit Gladedale.co.uk.