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Shared Equity
‘I want to buy but I’m not sure I can afford to. What if I’m not able to make the full commitment?’
Don’t worry – we’ve come up with a way to help you out. Just under a third of the apartments at The Hub will be shared equity homes and you can secure one with a discounted reservation fee of £500 upfront and a further £500 payable on exchange of contracts.
‘What exactly is shared equity?’
It’s a scheme that enables owner-occupiers to purchase 70 - 85% of their home. Apartment prices at The Hub start at £124,500 for a studio - equating to £87,150 under the shared equity scheme. Further details on our shared equity offer can be obtained by contacting the Marketing Suite.
‘I’m definitely interested but I've got a few mortgage queries. Have you got anyone who could give me some guidance?’
We certainly have. Savills Private Finance is on hand to provide advice and answer any borrowing and mortgage questions you may have. Just contact our Marketing Suite on 0161 236 0606 or manchester@savills.com to make an appointment.
Don’t worry – we’ve come up with a way to help you out. Just under a third of the apartments at The Hub will be shared equity homes and you can secure one with a discounted reservation fee of £500 upfront and a further £500 payable on exchange of contracts.
‘What exactly is shared equity?’
It’s a scheme that enables owner-occupiers to purchase 70 - 85% of their home. Apartment prices at The Hub start at £124,500 for a studio - equating to £87,150 under the shared equity scheme. Further details on our shared equity offer can be obtained by contacting the Marketing Suite.
‘I’m definitely interested but I've got a few mortgage queries. Have you got anyone who could give me some guidance?’
We certainly have. Savills Private Finance is on hand to provide advice and answer any borrowing and mortgage questions you may have. Just contact our Marketing Suite on 0161 236 0606 or manchester@savills.com to make an appointment.
PICCADILLY PLACE GENERAL PARTNER LIMITED
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
This is a shared equity product. Piccadilly Place General Partner Ltd will provide an equity loan, which must be repaid on sale or on the 10th anniversary of purchase,
whichever is earlier.
The equity loan will be secured by way of a second charge.
The amount repayable will depend on the value of you home at the date of repayment.
Example: cash price £200,000. Seller contribution £50,000, representing 25% of the equity. If your home is worth £250,000 at the time of sale, you would have to repay 25% of this, equalling £62,500. If your home is worth £150,000 at the time of sale, you would have to
pay £37,500.