ADVICE
Rachel Eardley is the sales adviser at Plumlife’s flagship development,Worrall Street.Throughout her career, she has helped more than 120 customers buy their first home across the North West. Rachel is passionate about Worrall Street as it attracts a wide demographic, so she is able to support customers at all different stages of their homeownership journey. Manchester is experiencing huge regeneration and attracting young professionals from all over the country – Rachel loves showing them that the North is the place to be! The city’s growing popularity is pushing house and rental prices up, but Rachel is happy to explain how Shared Ownership offers a solution Q I’m looking to get on to the property ladder, but I don’t know whether Shared Ownership or Rent to Buy is the better option for me? A Whether you’re a first time buyer or purchasing a new place, buying a home is one of the pivotal moments of life. Given its significance, it’s important that
Rachel Eardley, Sales Adviser, Plumlife
week, you won’t even need to make it next year.The whole point is easing you into the process one step at a time. With Rent to Buy, you can rent your home at an affordable discounted rate (usually up to 20% lower than average local market rents) for up to five years while you save to buy all of your home or a share of it in the future. That 20% goes straight back into your savings, meaning you’re building up your deposit from day one.
down to your own circumstances and personal preferences. Both options provide great routes to homeownership, providing greater accessibility to those who find that they are unable to buy outright. With Shared Ownership you can gradually increase the share you own over time via staircasing, while with Rent to Buy you will have more flexibility and an opportunity to transition from renting to owning. It’s important that you choose an option that’s affordable for you, both now and in the years ahead.
you make the right decision for yourself.There are a number of routes to homeownership, which we know can be confusing! So, we’re going to break it down for you. Of course, you can buy on the open market – but this can be very expensive and out of reach for a lot of people. This is where the Shared Ownership and Rent to Buy schemes step in, offering more affordable ways to get on to the property ladder. So, what’s the difference? Shared Ownership Shared Ownership offers a straightforward, flexible route to homeownership. Instead of purchasing a property outright, you can purchase a share that you can afford – typically between 25% and 75%. In some cases, you can buy from as little as 10% of a home, if that’s the share level that’s affordable to you. You would then pay a subsidised rent on the remaining share alongside your mortgage costs.This approach requires a much smaller deposit, making it ideal for first time buyers or those with limited savings. In the future, you can usually buy more shares of the property, or even purchase it outright through a process called “staircasing”. Shared Ownership provides an affordable and sustainable path to making your dream home a reality. Rent to Buy The Rent to Buy scheme is designed so you can “try before you buy”, supporting you while you find your way to own. But there’s no rush, and you don’t have to make the decision next
So which scheme should you choose? Ultimately, the scheme you choose comes
Worrall Street offers an exciting opportunity, with homes available to buy through Shared Ownership or rent through Rent to Buy. Situated on the banks of the Manchester Ship Canal, near Salford Quays, Worrall Street features 160 beautifully designed homes, including apartments and townhouses. One thing that sets Worrall Street apart is its interior design collaboration with
Lynsey Ford, former winner of BBC’s Interior Design Masters . Lynsey has created a bespoke design for the shared spaces and show homes, blending affordability with stunning aesthetics. Her work aims to inspire buyers to see how stylish and functional a home can be, while being mindful of budget constraints.
The location is another standout feature. With Salford Quays’ vibrant culture, bars and restaurants just a short walk away, and Manchester city centre a quick tram ride from your doorstep, Worrall Street offers the perfect mix of connectivity and community. Prices for a one bedroom Shared Ownership apartment start from £48,750 for a 25% share and two bedroom townhouses are available from £80,000. Monthly rents start from £880 for a one bedroom apartment and £1,040 for a two bedroom apartment. To nd out more about Worrall Street and to book an appointment to explore the brand new show homes call 0161 447 5050 or visit plumlife.co.uk
*Based on a 25% share with a full market value of £195,000
18 First Time Buyer June/July 2018
October/November 2025
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