Latimer Unlocks Affordable Routes into Homeownership in Manchester

Getting onto the property ladder has become increasingly challenging, with the average age of a typical first-time buyer now rising to 34. This is leaving many people living at home with their parents for longer than planned, delaying key life milestones such as moving out, settling down or starting a family. At the same time, high rental costs and the need for larger deposits mean many aspiring homeowners are stuck between renting and saving, despite wanting a place of their own.

That’s where shared ownership comes into its own. Offering the chance to buy a home with a 5% deposit on a share of a property, plus providing more financial security than renting privately, first-time buyers are looking to the scheme as a more affordable route into homeownership. In Manchester, Latimer Homes is currently selling a host of new build homes perfect for first-time buyers, with deposits starting from as little as £4,188 – a much more achievable figure for those just starting on their homeownership journey.

Islington Wharf

Set in Ancoats, to the Northeast of Manchester City Centre, the two-bedroom apartments at Islington Wharf come with an excellent specification and high-quality integrated appliances fitted, ready to go. Once a forgotten post-industrial neighbourhood, Ancoats has since become one of Manchester’s most fashionable canalside addresses, with easy tram access into the city, alongside a host of trendy independent retailers, vintage boutiques and cafes just a short walk away in the Northern Quarter. Apartments here start from £121,975 for a 35% share of a two-bedroom apartment, and can be secured with a 5% deposit of £6,099.

Furness Quay

On the opposite side of the city, Furness Quay is a collection of one-, two- and three-bedroom apartments and duplexes situated along the Salford Quays. In a prime waterside position in the heart of a newly regenerated neighbourhood, all homes here offer a contemporary, high-specification, perfect for those wishing to put down roots in a scenic spot of the city. Sitting next to MediaCity, home to both the BBC and ITV studios, residents at Furness Quay will have culture, hospitality and speedy links into the city on their doorstep, in an area that is fast becoming one of Manchester’s most popular postcodes. Prices for an apartment at Furness Quay start from £88,375 for a 35% share of a one bedroom apartment, secured with a deposit from as little as £4,188.

Latimer at Lumina Village

Opposite Old Trafford Cricket Ground and in the shadow of Manchester United’s iconic stadium, residents at Lumina Village are never far from sporting buzz. Sitting within Trafford’s culturally-rich Civic Quarter, the newly launched collection of one to four bedroom homes are available from £89,000 for a 40% share of a one bedroom apartment (deposits from £4,450). When complete, Lumina Village will have its own village green, village squares and retail space, blending the best of city life with green community spaces to relax in. With the Old Trafford Metrolink stop just outside, residents will have easy access to Deansgate and Manchester Piccadilly within 30 minutes, opening up the whole of Manchester and beyond.

As the conversation around affordable homes routes into homeownership continues, shared ownership is one of the most popular answers. After buying an initial share, homeowners can purchase additional shares whenever suits them, all the way up to full ownership. Doing so presents a more affordable route to ownership; the buyer only needs a deposit based on the value of the initial share they purchase, not the full property value.

To find out more about shared ownership with Latimer at Islington Wharf, Furness Quay, and Lumina Village visit:

New build homes Manchester | Latimer homes