Property
Help to Buy loan for first-time buyers is coming to an end this October
First time buyers can invest in luxury apartments using the scheme before the deadline…
The Help to Buy: Equity Loan Scheme getting first-time buyers on the property ladder is coming to an end this October, potentially foiling the plans of thousands hoping to secure their first home this year.
The loan has proven to be a huge hit among those buying their first property over the last year, due to the fact they can purchase a house with a 5% deposit, rather than the traditional 10%.
The government then gives a 20% deposit contribution for the first five years, completely interest free.
Through the loan, homeowners have also been able to purchase their property at 75% loan to value, which eventually unlocks better mortgage product deals down the line.
@gregwillson / Unsplash
However, with the HTB scheme due to come to an end in March 2023, all new applications must be completed by October 31st this year.
Back in 2018, the government first announced that the Help to Buy: Equity Loan scheme would run from April 1st 2021 to March 31st 2023 and, according to the Gov.uk website, there are no plans to extend or replace it.
So as the deadline looms, prospective buyers here in Manchester are scrambling to get their finances in order and viewings booked in to take advantage of the scheme for one last time.
And one of the unlikely places accepting Help to Buy loans is HD Media City, which is allowing buyers – first-time and those already on the ladder – to snatch up its luxury apartments with a 5% deposit.
Latimer
There are also 100 shared ownership units available, which is a good option for buyers wishing to purchase at a lower price point and with a smaller deposit.
But the Help to Buy scheme is the real star of the show for HD because, unlike similar flats in Manchester city centre, many of its one bedroom apartments fall below the HTB regional cap of £224k, allowing buyers to use the scheme to scoop up an apartment with only a 5% deposit.
Stephen Maskill, the regional sales manager at property developer Latimer, told Proper Manchester: “Almost all of the one bedroom apartments at High Definition fall under that regional cap, so it’s great that we can offer really nice luxury apartments with the Help to Buy scheme.
“It’s a very unique feature for this type of apartment to be available with that scheme.
Latimer
“This month we’ve done several Help to Buy sales already, so it’s clearly very in demand, it’s proving to be very very popular.”
HD was born with a vision to create an affordable and community-led luxury living space in the heart of the exclusive Media City.
Stephen said that in the wake of the Covid pandemic, a strong sense of community was at the forefront of the vision when building and developing the apartments.
He explained: “After millions of people were stuck and isolated in their Homes during the Covid lockdowns, we really wanted to deliver a community-led space with co working and recreational facilities for all, as well as somewhere that encourages a healthy work-life balance for residents.”
Latimer
Energy efficiency was also a priority during development, with each apartment having the highest EPC ratings possible amid the cost of living crisis.
Stephen said: “The EPC ratings in these apartments are exceptional, which means utility bills and heating bills will be extremely low and affordable because of how insulated and efficient the building is.”
As for the location, Stephen says now is the perfect time to invest in a home in Media City, which offers the ‘perfect mix’ of city centre living and suburban tranquility thanks to its acres of green spaces and cultural attractions, as well as its selection of restaurants and bars.
He also says Media City is anticipating ‘tens of millions of pounds worth of investment’ in the next couple of years, giving buyers all the more reason to get moved in while it’s affordable.
Latimer
He explained: “Media City has had a lot of money pumped into it already, but there’s a huge amount of investment and development yet to come… It’s going to keep growing into a larger destination, and will become just like Manchester city centre by the time it’s finished.
“So buyers will be getting in at a good time where values and prices will be driven by the investment that’s coming into the area.”
And offering a bit of advice to first-time buyers hoping to secure their first home, Stephen said: “Buy now, and get yourself locked into a five year mortgage product deal. Future-proof what you’re going to be spending for the next five years on a mortgage.”
To find out more about HD Media City, the homes it has to offer and which payment plan will suit you best, visit the Latimer Homes website.
Property
Plans unveiled for Manchester’s tallest tower at 76-storeys high
Plans for Viadux project have been revealed
Plans set out for a huge new tower reveal it will overtake Renaker’s 71-storey Lighthouse and dwarf the Beetham Tower.
Salboy has unveiled its plans for its Viadux Phase Two project – which will stand next to the Beetham Tower at 76 storeys high, and will feature 780 apartments.
Beetham Tower claimed the title as the tallest tower in the city upon completion back in 2006, until Deansgate Square’s South Tower overtook it in 2018, holding the record ever since.
However, Renaker’s 71-storey Lighthouse project is soon set to overtake South Tower which will be a huge 213 metres tall, located in plot D near Deansgate Square and Mancunian Way.
But the newly revealed Salboy plans show that Viadux Phase Two could then overtake that, being five storeys taller than plot D – though the property developer has not released an accurate height of the proposed skyscraper just yet.
Viadux Phase Two A – its official name – will contain around 780 ‘high quality’ new apartments in the larger tower, with plans to build a 23-storey smaller tower next to it.
The smaller tower is called Phase Two B and will contain around 130 affordable new homes that the developers say ‘contribute towards the need for city centre affordable housing’. Built in two phases, the Viaduct project will provide 900 new dwellings.
Salboy’s Viadux Phase One is almost ready to open its doors to the public – which is a 40-storey block located next to the Beetham Tower containing 362 apartments.
A statement on the consultation website reads: “Phase Two follows the same design principles as Phase One, but look to increase the level of ambition further still.
“The Viadux Phase Two tower will become the focal point of this cluster of tall buildings and make a visually striking addition to Manchester’s skyline.”
Salboy’s plans have changed from the original 263,000 sq ft 15-storey tower of offices that was originally proposed – but the developer says it has shelved those ambitions.
The statement continued: “The land in between the Beetham Tower and Viadux Phase One has approval for an office building, approved as part of the Beetham Tower development, but never delivered.
“This site will be redeveloped as a new distinctive diamond shaped building, to be delivered as new affordable homes in the heart of the city centre.
“The building will be elevated above the public realm stair and lift with new shops or cafes opening onto the viaduct. Moving east, beyond Viadux Phase One, the new 76-storey residential tower will replace the previous plans for a large office on the site.
“To complete the wider city block, we are exploring options to place a smaller retail building facing onto Albion Street to create a new edge to the city street.”
Subject to approval, Salboy hopes to start work on the tower in 2024.
A drop-in event for those wanting to look at the plans will take place on December 4th from 4pm to 7pm at 53Two, on Watson Street.
Property
Key workers can get big rental discounts on these city centre apartments
Key workers can receive up to a 25% discount and pets are welcome at Poplin
Apartments offering discounts for key workers are now available in the city centre’s most desirable neighbourhoods.
The scheme offering as much as 25% discount for key workers on rentals in Ancoats and the Northern Quarter has now opened for tenants.
The Poplin development features 144 rental flats, 35% of which will be reserved specifically for key workers and is supported by a Social Impact Fund.
Key workers earning under a £40,000 salary threshold will receive the highest discounts, with a typical £1,460 rent for a two bedroom flat being reduced to £1,180.
The two bedroom units come with two bathrooms, making them suitable for sharing and opening up the opportunity for key workers to enjoy the experience of city centre living.
The apartments have been designed by Northern Quarter interiors studio YOUTH, with the development featuring a resident’s lounge, a co-working space, bookable private dining room and tv lounge, an atrium space and a roof terrace – featuring 360 views of Manchester’s skyline.
Poplin’s apartments are pet-friendly and new residents are given a welcome box of eco-friendly treats and a discount card which provides discounts to its ‘neighbourhood heroes’ – local businesses that the scheme is partnered with.
As well as staff on hand at all times, the apartment development also boasts an on-site maintenance team to help with everything from moving in to hanging pictures to repairs.
Residents can go out on the town with Manchester right on your doorstep. You can find details about the development by clicking HERE.
Property
Tallest tower in Salford Quays offering stunning one, two and three-bed apartments
You can even bring your pet at no extra cost
A stunning new development is offering one, two and three-bedroom apartments in – what is currently – the tallest tower in Salford Quays.
Eda is the new 29-storey building with 290 apartments available now, situated at the top of Erie Dock in the heart of Salford Quays.
Eda’s furnished apartments include king-size beds with ottoman storage, corner sofas and TV units, to name a few – all bespoke designed by Eda and unique to you.
With floor to ceiling windows looking out over the Quays and the Manchester skyline, Eda’s apartments are bright and spacious with open plan living areas.
Each apartment has a modern fully-fitted kitchen with utility storage, comfortable and spacious bedrooms with bespoke designed fitted wardrobes, and relaxing bathrooms all finished to a high standard.
And, it doesn’t stop there – you can even bring your pet at no extra cost too.
Other amenities at Eda include a 24-hour concierge service, a cinema room, a gaming room, a private dining room and a landscaped garden terrace. It also has a Co-op store downstairs for your convenience.
With paddle boarders, kayakers and an occasional brave swimmer, this location is where the city meets the open water. It’s also the perfect place to enjoy a varied social life while staying local.
This cosmopolitan area boasts scenic walks along the dock where you’ll also find plenty of shops, The Lowry Theatre, Imperial War Museum and Media City UK.
For foodies, or those looking to catch up with friends over drinks, there’s The Botanist, The Alchemist, Seven Brothers, Unagi, plus Kargo – the huge new 20-vendor food hall.
With plenty more places to eat and drink, as well as a Quayside Makers Market that features every last weekend of the month, you’ll be spoilt for choice.
You can even catch the tram from the nearby Metrolink stop at Anchorage. From here, you can easily travel into the city centre or around to places including Chorlton, Didsbury and the Trafford Centre.
Apartments will be ready to move into from Friday, September 22nd.
Click HERE to register your interest, or come and say ‘Hi’ anytime. Now open 24/7, the team will be more than happy to show you around.
You can find them at Eda apartments, 5 Anchorage Quay, Salford, M50 3BR.
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