A PIONEERING council project to breath new life into the borough’s moribund private housing market has been launched.
Mayor of Wigan Coun Myra Whiteside ceremoniously snipped a ribbon to announce formally a new Shared Equity Scheme that is helping to transform a former historic explosives works into a new community in Shevington.
It came just days after it was confirmed that the town hall’s revolutionary Local Lend A Hand mortgage indemnity partnership with Lloyds TSB helping to lower deposits for first time buyers has been a sell-out success.
The council’s affordable housing scheme will now help those on moderate incomes to purchase properties on various new developments across the borough.
If you live or work in the borough, the council now offers an equity loan on certain new build properties.
This could mean that those wanting to get a foot on the property ladder only need to get a mortgage for 70 per cent of the property value (five per cent of which would be the buyer’s deposit) bringing a new house within reach for those who previously wouldn’t have been able to leave rented property.
The loan is repayable for anything up to 25 years after the date of purchase and is non-interest-bearing.
At Taylor Wimpey’s Oakwood Meadows on the former Roburite site, the Affordable Housing price for a two-bedroomed house is £91,000, with three-bedroomed houses from £112,000.
The event saw a host of council members, estate agents and house-hunters gather at the former extensive Roburite ICI manufacturing site for the grand opening of both the Stratford and Tarvin show homes.
Sales and marketing director for Taylor Wimpey Manchester Anthony Mansfield said: “We were thrilled that the mayor was able to join us for the launch of our show homes on this exciting development.
“The turn out was great and we would like to thank everybody who attended at what was a fantastic opportunity to showcase our beautiful new show homes as well as the development as a whole and the feedback was overwhlemingtly positive.”
The new detached show homes designs will also be available on the part exchange initiative, aimed at existing home owners struggling to market their own home.