Shared ownership specialists, Plumlife are providing a chance for first time buyers to take their first step onto the property ladder at a stylish new development in Knutsford.

Through Plumlife's shared ownership scheme, first time buyers are able to purchase a three-bedroom house at The Ridge development in the Shaw Heath area of Knutsford for as little as £105,000 (based on a 50% share).  Priority will be given to local residents in Knutsford and the Borough of Macclesfield, who want to buy a home in the local area but find they are being priced out the market. 

Plumlife, part of Great Places Housing Group, specialises in shared ownership schemes, allowing first time buyers to purchase a share of their home and pay rent on the remainder, enabling them to get onto the property ladder.

The scheme is open to any first time buyer or anyone unable to afford the costs of purchasing a property outright on the open market, although priority will be given to those who currently live in the Knutsford area or have a strong local connection through employment or family.

Eleven three-bedroom detached houses at The Ridge development are currently being sold through Plumlife.  Eighteen, two bedroom apartments are also available.  Situated on Longridge near to Mobberley Road, the properties offer stunning views over St. John's Wood conservation area.  Developed by Richardsons Projects Limited and designed by Manchester-based architects Triangle, the properties boast a contemporary design with sustainable larch wood, traditional brickwork and feature panelling in zinc.  The properties are due for completion in June 2008.

With Plumlife's shared ownership scheme, prices start at £105,000 for a three-bedroom detached house (based on a 50% share) with an additional monthly rent of £240 per month.  Two bedroom apartments are available for £70,000, for a 50% share with a monthly rent of £162.

With the minimum salary of around £20,000 required, homes at The Ridge development are in reach of many young professionals and first time buyers who would otherwise be unable to afford such a property.

Commenting on the difficulties faced by first time buyers Lisa Westerman, Sales Manager at Plumlife said:  "It has been well documented recently that first time buyers have difficulty purchasing their own property.  This is particularly true in Knutsford where, as in many areas of Cheshire, young local people are simply being priced out of the market.  Shared ownership offers a solution for those that want to buy a home in the area but need a little extra help to take their first step on the property ladder." 

The shared ownership scheme also gives home owners the opportunity to ‘staircase' after 12 months, offering them the chance to buy up to 100% of the property - either in stages or in a single lump payment.

As well as being available to first time buyers, the scheme is also open to those unable to afford the costs of purchasing a property outright, tenants of housing associations, local authorities and those renting from a private landlord.

In addition to shared ownership, Plumlife also offers other low cost homeownership schemes such as Open Market HomeBuy; also designed to help first time buyers onto the property ladder.  In addition to The Ridge, Plumlife currently has a number of shared ownership offers in Cheshire including two bedroom apartments and three bed town houses at The Works development in Middlewich.

Those interested in finding out more about Plumlife's shared ownership scheme at The Ridge development or any of Plumlife's low cost homeownership deals, can contact Plumlife on 0161 447 5050 or visit www.plumlife.co.uk