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503-505 Bury New Road, Prestwich, Manchester M25 1AD
Sold STC

Melton Road, Manchester, M8

Offers In Excess Of £75,000Leasehold

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Key Information

Tenure:Leasehold
Service charge:ÂŁ1,188 per year
Ground rent:Not available
Time remaining on lease:69 years
Council tax band:A
Broadband:up to 1000Mbps
Mobile signal:*Based on indoor data coverage
EEO2ThreeVodafone

Key Features

Exclusively Over 55's Development
Shared Ownership
Excellent Location
One Bedroom Flat
Spacious Lounge / Diner
Communal gardens
Accessible Via Stairs

Description

Situated in a highly sought-after development exclusively for the over-55s, this well-positioned first-floor flat offers comfortable and low-maintenance living in a prime location just off Middleton Road.

The property features a bright and spacious lounge, a well-proportioned bedroom, a functional kitchen, and a well-appointed bathroom. Designed with ease of living in mind, it benefits from vacant possession, making for a smooth and hassle-free move.

Set within beautifully maintained communal gardens, the development provides a peaceful outdoor retreat for residents. Additional storage is available with an external storeroom, and there is convenient parking at the front of the property. For added reassurance, the home is also equipped with a Careium warden call system, with full details provided upon completion.

This is a fantastic opportunity to join a friendly and well-regarded community, ideal for those looking to downsize or enjoy a relaxed lifestyle in a desirable location.

Key Details:

🏡 Shared Ownership Details

• Ownership: The current owner holds a 60% share, which will be transferred to the new buyer. The remaining 40% is owned by Jigsaw Homes, with rent payable on that portion.

• Lease: 70 years remaining

• You can increase your ownership up to 75%, at which point no rent is payable on the remaining share.

đź’· Financials

• Purchase Price for 60% Share: £66,000

• Rent on Remaining 40% Share: £30.14 per month

• Service Charge: £107.88 per month

• Total Monthly Cost: £138.02

âś… Eligibility Criteria

To be eligible, you must:

• Be 55 years or over

• Meet at least one of the following:

• A first-time buyer

• Previously owned a home but can no longer afford to buy one

• Forming a new household (e.g., after a relationship breakdown)

• An existing shared owner looking to move

• Currently own a home but cannot afford to buy a new one to meet your needs

If you currently own a property, you must sell it before or at the same time as your shared ownership purchase. Financial and credit history checks will be carried out as part of the application process.

🏠 Subletting & Renting Rules

You can rent out a room, provided you continue to live in the property.

You cannot sublet the entire home unless:

• You have permission from Jigsaw Homes, which is only granted in exceptional circumstances.

• You have permission from your mortgage lender, if applicable.

This charming and well-located flat presents an excellent opportunity for affordable, independent living in a supportive community. Early viewing is highly recommended!

Kitchen

Lounge / Diner

Hallway

Bedroom One

Bathroom

Viewings not available

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Tashbar of Manchester
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King David Primary School
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Mechinoh School
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Manchester Junior Girls' School
(0.38 miles)
Good
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Age Range: 3 - 13
Crumpsall Lane Primary School
(0.43 miles)
Good
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Toras Emes
(0.45 miles)
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(0.47 miles)
Number of pupils: 35
Age Range: 11 - 13

Property Calculators

Property Value (ÂŁ)
Deposit (ÂŁ) 10.00%
Duration (Years)
Interest Rate (%)

Mortgage

Estimated Monthly Mortgage Payment:
ÂŁ375 /mo.
25 Years, 4.5% Interest
Loan
ÂŁ67,500
Total Repay
ÂŁ112,556

Stamp Duty

You’ll have to pay the stamp duty of:
ÂŁ0
0% up to ÂŁ75,000
Your effective stamp duty rate is 0%

If you would like to discuss your options with one of our expert mortgage advisors, click the link below.

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