FAMILIES are getting ready to move into a development of new shared ownership homes in Oldham after Fabric Living completed work on its first ever scheme.
Fabric Living, part of housing association First Choice Homes Oldham (FCHO), launched earlier this year to bring new much needed “affordable” homes to the borough.
Work on its first development of 10 homes at Pavilion Green in Royton completed in the beginning of May, when construction firm Tyson Construction handed over the properties.
Families are now set to start moving in over the coming weeks, with seven properties already reserved, the organization said.
The properties are all available for shared ownership, a Government-backed scheme that helps people get onto the property ladder by offering them the opportunity to part-buy, part-rent a home with a low deposit.
Fabric Living says it has experienced “overwhelming demand” since launching and has shared new details about more homes planned in the area.
The company’s next development will be Woodlands on Keb Lane. The scheme is expected to open doors to its show home early May 2019, with homes already available off plan.
Another 12 properties are planned for Pennine View off Ripponden Road, Sholver. This scheme’s show home will open in June 2019, the company said, with homes available to reserve off-plan shortly.
Fabric Living says its homes are available from £55,300 (for a 35% share) with rent of £235 per month. Larger shares of up to 75% can also be purchased.
Lynsey Clark, FCHO’s assistant director of development, said: “We know there is a shortage of affordable homes for people in Oldham, but the amount of enquiries we’ve had about our new homes has been higher than we could have imagined.
“It’s amazing to know that residents will be moving into Pavilion Green very soon and we are committed to bringing more of these stunning homes to market across Oldham.
“Owning a home is still out of reach for many people so we have ensured all our new Fabric Living homes offer families, couples or singles an affordable way onto the property ladder.”
Main Image: Tyson Construction hands over the keys for a new housing scheme to Fabric Living’s Jamie Smith