Devonair
One ticket, through checked, your bags will go through. However, baggage handling such as it is (tossing the baggage, baggage hurling, the baggage put, baggage dodgems, hide the baggage etc, all favourite pastimes at Manchester) may end up in you bags being slightly delayed. Much will depend on your connection whether your bags make it across from T2 in time.
I'm not helping am I?