Countryside Properties brings bohemia to first time buyers at New Broughton
First time buyers are being offered fresh, funky and affordable living as Countryside Properties launches the next and much-anticipated phase of its flagship regeneration scheme, New Broughton.
New Broughton’s cool and quirky cousin, The Broughton Quarter, comprises 99 one and two bedroom apartments designed to bring a bohemian air to the suburban chic pioneered by phase one and two of the scheme.
To ensure first time buyers in Salford have a realistic chance to buy at this award-winning development, Countryside Properties is collaborating with English Partnerships to offer the First Time Buyer Initiative (FTBI) and give those who cannot otherwise afford to buy a new home, a helping hand onto the property ladder.
FTBI enables first time buyers to contribute a minimum of 50% towards the full purchase price of a new home through an affordable mortgage, with English Partnerships contributing the rest by way of direct payment to the developer.
Unlike other shared ownership schemes, where buyers are required to buy part of a property and pay rent, there is no charge to pay on the assistance provided by English Partnerships for three years. After this time home owners pay fees on the amount contributed by English Partnerships, rising to a maximum of 3% after five years in the property.
Edging the 180 acre site where the plans for longer term regeneration are at their most visionary, The Broughton Quarter as the latest addition to the funky New Broughton family will further establish it as one of the most unique and des res places to live in Manchester.
Designed to the highest, contemporary standards with ease and comfort in mind, the apartments include fashionable, well-designed kitchens with high quality units and oven and hob, whilst the bathrooms feature slick and stylish white sanitary ware and ceramic tiled walls.
Countryside Properties has been working over the past three years with Salford City Council and Contour Housing Group to recreate a vibrant and bustling community. New Broughton is situated on the eastern side of Salford, just minutes from the city centre. Proving enormously popular amongst those who want to live and work in Manchester, the existing phases of the scheme sold out in an exceptionally short space of time and The Broughton Quarter is expected to receive an equally impressive reception.
FTBI is part of the government’s wider HomeBuy scheme to help 120,000 house hunters into low-cost home ownership by 2010. When owners sell their home they will repay all of the FTBI assistance from a share of the total proceeds - so if the assistance was a 25% contribution, the repayment would be 25% of the total value when sold. Plumlife as the HomeBuy agent for Greater Manchester will assess eligibility and affordability for each applicant.
As time goes on, buyers can ‘staircase’ to reduce English Partnerships’ share of the future sales proceeds.
40 one and two bedroom apartments are available under FTBI. Prices start from £104,950 which would require a minimum £52,475 contribution.
Buyers can discuss their eligibility for the FTBI scheme with Countryside Properties at the New Broughton Information Centre on Saturday 8th and Sunday 9th December. To make an appointment please call 0161 792 6447 or visit www.newbroughton.com
For further information on The Broughton Quarter, please visit the information centre at New Broughton between 11:00 am to 6:00 pm or contact 0161 792 6447, northern@cpplc.com, www.newbroughton.com