WHY RENT WHEN YOU CAN BUY A NEW APARTMENT NEAR MANCHESTER

IT’S now 25% cheaper to buy a home than it was this time last year, according to a mortgage expert urging first time buyers in the Manchester area to assess their options.

Elan Homes, the company behind the Hazelfields development in Poynton, has worked with RSC New Homes to provide a mortgage checker on its website. It offers those considering buying a new home to explore their mortgage options and test out what their mortgage repayments are likely to be, without affecting their credit score.

Andrew Mannion, group new build development director at RSC New Homes, said: “It’s never been a better time for first time buyers to consider moving into a new build home. Mortgage affordability for first time buyers has increased significantly in 2025 with many lenders wanting to support first home buyers. Lending levels have increased significantly and along with lower interest rates now, its 25% cheaper to buy now than it was at the same time in 2024.  We’re seeing owning much more cost effective than renting in the majority of areas due to improved availability, lower rates and better affordability. Combine this with purchasing a new build home, which are significantly more energy efficient than their older counterparts, and you will benefit from both lower energy costs and even better mortgage rates under the green mortgage schemes.”

With the average rent in Manchester around £1,300, according to the Office of National Statistics, buying a new apartment at Hazelfields could be considered a more attractive option.

Current availability includes one-bedroom apartments priced from £269,995 and two-bedroom apartments from £289,995.

“Running the figures on the mortgage checker is a great starting point to help assess your financial position,” Andrew explained.

“Simply input the purchase price and the amount you’re looking to borrow and it will calculate the monthly mortgage repayments without affecting your credit score.”

Elan regional sales and marketing director Marie Morris said: “We understand that it can be tricky to save for a deposit, particularly if you’re renting. With that in mind, we’re offering a deposit boost on selected new apartments in Poynton. We could contribute up to 5%, offering vital help to buyers, helping their money go further. This could be the difference between renting, effectively covering someone else’s mortgage or funding their pension pot, and investing in your own future and buying your first home.

“With our help it may even mean that the mortgage repayments are comparable to the rent that would be payable.

“Every mortgage payment will build equity and increase your ownership stake, unlike rent which goes to a landlord. With a fixed-rate mortgage, your payments stay predictable and you won’t have surprise rent hikes. There’s also the possibility that if property values rise, enabling you to make a profit if you later decided to sell.”

The apartments are available on a 999-year lease with ground rent of £1 payable.

Designed to maximise the potential of the space, the apartments have open plan layouts with combined kitchen, lounge and dining room. French doors offer lots of natural light. Kitchens are well equipped, while bathrooms feature contemporary suites.

Selected apartments include an upgraded specification with granite kitchen worktops, integrated washing machine and dishwasher, flooring throughout and fitted wardrobes to the main bedroom.

“Owning your home, rather than renting, offers lifestyle benefits too,” Marie added.

“You’ll have the stability of being able to stay there as long as you want to, without worrying that the landlord might sell up. It also means you can put your own stamp on it. Subject to build stage we offer a range of options and upgrades. Then when you move in you can decide on the colour scheme without having to ask the landlord’s permission before decorating.

Hazelfields is located on Hazelbadge Road, Poynton.  The shops, bars and restaurants of Manchester city centre are around 30 minutes away – including walking to Poynton station, while Manchester Airport is only a 10-minute drive away.

Poynton itself features a mix of independent shops, cafes, and restaurants, plus a Waitrose. Poynton Park, Lyme Park, Kerridge Hill Nature Reserve and the traffic-free greenway Middlewood Way, are all within easy reach of the apartments.

To learn more about Elan’s apartments in Poynton see https://www.elan-homes.co.uk/developments/hazelfields.