Example Elan homes, similar to those available at St Catherine’s Gardens, Lowton through an affordable housing scheme

AN affordable housing scheme is helping people from Wigan Borough secure a brand new home for less.

Elan Homes is working with Wigan Council to help make owning a new build home easier to afford.

Subject to eligibility criteria, selected properties at St Catherine’s Gardens on Newton Road, Lowton, can be purchased with an interest free equity loan provided by the council.

The scheme has proved popular with five out of the six properties available under the initiative already reserved.

Marie Morris, sales director for Elan Homes in the North, said: “It’s important that when we build new homes we cater to local housing need. When we were planning the redevelopment of the former site of St Catherine’s Church we worked closely with Wigan Council to ensure there was a mix of open market and affordable properties available. Almost a quarter of our St Catherine’s Gardens development – six of the 26 homes – were made available via the council’s equity loan scheme. It’s designed to help local residents or those with a strong link buy a home of their own at a price that’s easier to afford.”

By taking out an equity loan for 30% of the property’s full market value, purchasers should only need a 5% deposit and 65% mortgage.

When the loan is repaid, the repayment amount will be based on the property value at the time.

Councillor Terry Halliwell, cabinet member for housing and welfare at the council said: “We are committed to working with the private sector to build a high standard of accommodation that is well designed, attractive and affordable for our residents.

“Though it is important to attract people to our borough, we’re also keen to provide a variety of homes for our existing residents.

“It’s great to hear that the affordable homes available at this development have been so successful. Offering different ways for people to get onto the property ladder, building good quality housing along with improved transport links and employment opportunities provides the right mix to keep our local economy growing, which is another key priority for us.”

To be eligible for the equity loan buyers must:

  • currently live in the borough and have done so for at least the last 6 months, or, you have lived in the borough for at least three of the last five years
  • currently work in the borough or have taken up an offer of employment within the borough
  • have an immediate family member who lives in the borough and has done for at least the last 6 months

The final home available at St Catherine’s Gardens with the equity loan scheme is a three-bedroom Howden priced at £127,750.

It features a kitchen at the front; a cloakroom; plus combined lounge and dining room at the rear with French doors opening out on to the garden.

Upstairs, there are three bedrooms, one which could make a great home office, plus the family bathroom.

Three and four-bedroom homes are available on the open market from £239,995. Selected properties are available with a £10,000 gifted deposit contribution from Elan, with flooring also included.

Along with building new homes, Elan is retaining existing trees at the rear of the site, carrying out additional planting and providing bird boxes and bat bricks to offer homes for nature.

Electric vehicle charging points are being installed at St Catherine’s Gardens as part of Elan’s commitment to sustainable development.

The homebuilder has also pledged almost £45,000 worth of funding for nearby Pennington Flash Country Park.

For more information about homes available at St Catherine’s Gardens or to make an appointment with the sales team, see https://www.elan-homes.co.uk/developments/st-catherines-gardens or call 01942419685.

Find out more about Wigan Council’s equity loan scheme via https://www.wigan.gov.uk/Resident/Housing/Buying/Shared-equity.aspx.