Pioneering property scheme launches in Moston

Dreams of home ownership are about to be realised for North Manchester residents with the launch of sales at Hanson Gardens, in Moston.

The first of these much anticipated properties go on sale this Saturday (July 24) when award winning housebuilder Redrow Homes opens the doors to two fully furnished, professionally dressed show homes.

People already living in the Moston and Harpurhey wards will have priority to purchase for the first two weeks, but others can still register their interest and all buyers can put off paying up to a quarter of the price of a brand new home in a shared equity scheme administered by Manchester City Council.

Christine Aitken, sales director for Redrow Homes (Lancashire), said: “At Redrow we understand that making that all-important first step onto the property ladder can be tricky. With that in mind we’re working with the City Council to help ease the transition between renting or living with relatives to homeownership with the offer of an equity loan for up to 25% of the price of a brand new home.

“Buyers will only need to take out a mortgage for 75% of the value of the home, which means they should have access to some of the better mortgage interest rates without needing a large cash deposit.

“They’ll still own 100% of their new home from day one but can defer a quarter of the price for up to 10 years or until they have more funds available. Crucially the equity loan is interest free for 10 years.”

The valuable help means that a two-bedroom home at Hanson Gardens can be bought for an initial outlay of just £78,746 and a three-bedroom property from only £93,746.

Redrow is working closely with the council to build 128 two and three-bedroom homes on land at Hugo Street, off Lightbowne Lane, in Moston as part of a pioneering regeneration scheme.

Local people have already been registering their interest at the on-site marketing suite and finding out more about the two and three-bedroom terraced and semi-detached properties featured in this first phase.

From July 24 potential purchasers will be able to view two professionally designed and decorated, fully furnished show homes. And, with the doors to the show homes open, Redrow will begin taking those all-important reservations.

“The quality of our homes, their affordability and the widespread improvements initiated by the City Council in this part of North Manchester mean that our scheme is already attracting an incredible amount of interest.

“It’s unusual for residents of the immediate area to have a priority period like this to purchase, but they need to act quickly to secure their place at the front of the queue,” Christine commented.

Properties at Hanson Gardens will feature traditional looking elevations with all the character associated with older, ‘period’ homes. Inside, they will boast extra generous master bedrooms and living spaces, plus special measures to make them more energy and water efficient. They will also be fully accessible and easily adaptable for occupation by a disabled person.

The site is at the heart of Moston, close to the Moston Lane and North City shopping and services centres, Manchester College’s Moston campus, North Manchester Sixth Form College and several schools – all of which have been the focus of considerable investment. It is also near Central Park, where a new Metrolink stop is being created. The council is currently working on a masterplan for the Moston Lane area, which will guide further improvements.

Sir Richard Leese, leader of Manchester City Council, said: “Improving housing quality and choice in the area is a central part of our strategy to ensure it is a popular place to live. These new homes will provide affordable, desirable housing options and add momentum to the regeneration of Moston and Harpurhey, complementing all the investment that's taking place there."

The doors to the show homes will open at 10am on July 24 when the first properties will be released for sale.

The exclusive priority period for existing residents of the immediate area will last just two weeks, after which the homes will go on sale to the general public.

Join Redrow for its show home opening and sales launch at Hanson Gardens on July 24, or log on to: redrow.co.uk