Chips for everyone!

First time buyers in Manchester are being given the chance to move into one of the City’s most anticipated schemes, thanks to Urban Splash and Plumlife.
The award winning regeneration company has teamed up with Plumlife, part of Great Places Housing Group, to help tackle the growing challenges faced by first time buyers struggling to make their first home purchase.

50 of the homes will be available under the government backed ‘Rent to Homebuy’ scheme, which allows first time buyers to rent at a discounted rate. It allows homeowners to rent their chosen property at a discounted rate for up to five years while they save for a deposit. Rents are typically 80% of market rent, starting from £400 per calendar month for a one bedroom apartment in Chips.

To qualify for the scheme you have to have a combined income of £60,000 or less, be in full time employment and not already own your own home. Once a person has qualified, they have the option of either renting, with an option to purchase in the future, or they can go straight into shared ownership from as little as 25% of the market value.

Nicola Wallis, director of sales at Urban Splash said: “From the success we’ve experienced with the First Time Buyer Initiative, we are certain that Rent to Homebuy is the right product for customers looking to get a foot on the property ladder and into home ownership.

“Chips is a fantastic scheme and the introduction of Rent to Homebuy means that great design, superb views and a City Centre home become widely more attainable. We have been inundated with enquiries and would encourage anyone who is interested in the scheme to contact our sales team for further details.”

Speaking of the Rent to Homebuy scheme, Plumlife deputy chief executive Matthew Harrison added: “We’ve launched this new government backed “try before you buy” scheme to help people into home ownership. In this economic climate, the need for practical, financial help is perhaps greater than ever.

“Through the rent to sale initiative, would-be buyers will be able to move into great quality, brand-new homes, pay rent for an agreed timescale, and buy later, when market conditions are more favourable.”

Designed by renowned architect Will Alsop, Chips is a nine storey mixed use building comprising apartments and ground floor commercial space. The building is named such because it resembles three fat chips stacked on top of one another as Will Alsop explains: “Chips is a truly unique building and we are delighted with how it has turned out. We wanted to introduce a building with a real visual twist, something which would entice people in and around Manchester whilst emanating humour and attractiveness.”

Chips is one of the key developments at New Islington, a large scale redevelopment in Manchester’s Ancoats area, described as Manchester’s own sustainable community. Once complete, New Islington will boast shops, pubs and bars, a tram stop, health centre, and 3,000 metres of canal side.

Anyone wishing to obtain further information should visit http://ec2-63-34-210-119.eu-west-1.compute.amazonaws.com/rent-to-homebuy or email live@urbansplash.co.uk