Four ways to live at Port Loop
Think there’s only one way to live at Port Loop in Birmingham? You’d be wrong. There are four different ways you can make our new award-winning, waterside neighbourhood Port Loop your home.
You can buy outright, purchase with just a 5% deposit using Help to Buy, rent, and there are shared ownership options too.
So kick back, grab a cup of coffee and let us tell you more...
1. Buy outright
If you’ve saved a deposit and secured a mortgage with a bank or building society then congratulations, you’re well on your way to buying your home at Port Loop! If you pop into our marketing suite, the sales team will be able to find the home that best suits you; whether that’s a modular-built Town House created using modern methods of construction, or our new design Brick House; modern yet traditional and designed by renowned Birmingham firm Glenn Howells Architects.
Don’t worry if you’re a bit earlier in the process too. We work with a great team of independent financial advisers and are happy to put you in touch for some free, friendly advice. They’ll give you really useful tips on which mortgage is right for you, who your best lenders are and how much deposit you’re likely to need.
2. Help to Buy
A brilliant initiative, Help to Buy was introduced by the government back in 2013 with the aim of making it easier for people to get onto and move up the property ladder. The main selling point of Help to Buy is that it allows you to buy your new home with a smaller deposit and smaller mortgage than you might otherwise need.
Want to know how it works? Basically, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. Plus, you won’t be charged loan fees on the 20% loan for the first five years of owning your home.
3. Rent with US
Renting at Port Loop is quick and easy; we don’t charge you fees, we have deposit free options available; our tech-savvy systems mean a paperless sign up process, there’s a flexible lease to suit your needs, allowing you to rent from six months to many years, we have both furnished and unfurnished options available, and all homes come with a parking space!
4. Buy using shared ownership
We’re super proud to offer shared ownership for customers who want to get a foot onto the housing ladder.
This Government backed initiative, funded by Homes England, allows our customers to purchase an affordable share in their own home, ranging from 25% - 75%, with the option to buy additional shares in the future, taking you into 100% outright ownership. At Port Loop, homes are available through shared ownership on a 50% share basis – meaning you can move in for just £175,000.
To apply for a shared ownership home, you must be full time permanent employment with a joint income of less than £80,000 a year and not own another property. If you are self-employed, you will need a minimum of 2 years' worth of accounts/tax returns.
Want to know what it’s like to live at Port Loop? You can read what our homeowners have said about it here. We’d love to show you around.
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