Mansion House @ Port Loop

*SHOW HOME NOW OPEN* Purchase a brand new Shared Ownership home at Mansion House with just a minimum deposit of £8850. A stunning selection of two bedroom apartments, offering waterside living, a high quality specification with appliances included, and ready to move into NOW.

Welcome to Mansion House, Birmingham's newest canal side apartments, located at the award-winning Port Loop development. Designed by shedkm architects, these modern two-bedroom homes offer spacious and bright living areas, with large windows and high ceilings that flood the interiors with natural light. Each apartment features a private balcony, generous living spaces, and a dual-aspect design.

Mansion House offers 8 apartments available to purchase via Shared Ownership with Places for People.

Apartments available - Plot 101 / 201 / 202
Shares available 25-75%

Price example -

Full market value - £295,000
60% share price - £177,000
Rent per month based on a 60% share - £270.42
Service charge per month - £180.94 (approx)
Shared Ownership management fee - £128 per annum
Minimum deposit required - £8850 (subject to affordability check)

Port Loop Community
Port Loop Community: Situated in a vibrant community, Mansion House offers easy access to local amenities, parks, shops, and cultural attractions. Nestled between Birmingham Canal Old Line and the Birmingham Canal, Port Loop is just a 15-minute walk from Birmingham city centre. Its island location was once the industrial heart of the city, so the tow paths that served it provide superb, direct routes to the city centre. You can go by foot or jump on a bike. This is more than just a home; it's a lifestyle that values sustainability and neighbourly connections.


Shared Ownership
If you're eligible, you can apply for the Shared Ownership property that you'd like to buy. It's easier than you may think; you purchase a share of between 25-75% of your new home, using your deposit and a mortgage, and pay subsidised rent on the remaining share.
The other part of the home is owned by a housing association or housing development company, like Places for People, this is who you'll pay rent to, and Shared Ownership homeowners can buy more shares in their property later, if you wish, in some instances up to owning 100% of your home. This is called 'staircasing'. The more shares in the property you own, the less rent you need to pay on the remainder.

With Shared Ownership, the lower deposit and mortgage repayments helps people get onto the property ladder sooner, rather than later.

Eligibility
In order to buy a home under a Shared Ownership scheme, you need to meet the eligibility requirements, as well as pass the affordability checks.

Who is eligible for Shared Ownership?

-You need to have a household income of under £80,000 a year (or £90,000 in London).
-You need to not be able to afford a home with a standard deposit and mortgage that meets your needs.
-You also usually need to meet one of these requirements:

-Be a first-time buyer.
-Not currently a homeowner, or cannot afford to buy a home that meets your needs through a standard purchase.
-Already a homeowner (this could be through Shared Ownership), who wants to sell their current home.
-You will need to have a deposit (at least 5% of the share you want to buy) and, if not a cash buyer you should be able to take out a mortgage for the remaining cost of your share.

You'll need to find out if you're able to take out a mortgage for the amount needed. This will depend on your income, affordability checks and your credit history. Every lender has their own criteria and ways in which they measure affordability and the 'risk' level of applicants. Our independent financial advisors are Shared Ownership specialists, so with Places for People you're in good hands.

Agent Notes
Photos shown within the listing are of the show home at Mansion House. Please note the Shared Ownership layouts may differ and are used for indicative purposes.