First-time buyers in Salford have been given a helping hand to get on the property ladder with the announcement by English Cities Fund (ECf) that Help to Buy is now available at Carpino Place, its latest development of luxury townhouses.
Carpino Place, based on Oldfield Road in Salford, comprises 22 three and four-bedroom homes, featuring a mixture of private rear gardens, rooftop terraces and patio areas. The development also features an internal courtyard, which will house parking spaces for each of the properties.
The Help to Buy scheme allows first-time buyers to purchase a new-build home with just a five per cent deposit, with the Government lending up to 20 per cent of the value of properties worth up to £600,000. More than 90,000 first-time buyers have benefited from the Help to Buy loan scheme since it was introduced in 2013.
Hollie Reynolds, senior residential sales and marketing manager for the North at ECf, said: “While the North West property market remains buoyant, there are many people struggling to take that first step on the property ladder. We’re passionate about helping such people and know that buying a house can be a huge undertaking, so we’re pleased to be able to make the process less daunting for first-time buyers thanks to the Government’s Help to Buy scheme.”
Carpino Place, which is being delivered in conjunction with Salford City Council, has been designed to complement the surrounding area, enhancing the existing streetscape and strengthening the urban setting of Oldfield Road.
The development is named after Archbishop Francesco Carpino who, in 1966 along with the then mayor of Salford, laid the foundation stone of The Stella Maris Seaman’s Mission, which previously occupied the site.
Construction of the homes, which were designed by Buttress Architects, is expected to complete in early 2018. The multi-million-pound scheme follows on from the success of Timekeepers Square – a Georgian-style development located behind Chapel Street, which sold out in just seven months – as well as the 97-home Vimto Gardens project.
Hollie added: “We’ve been transforming the Chapel Street area of Salford for a number of years now and Carpino Place represents the next piece of the puzzle. We’re committed to creating a strong community and are sure that, with the Help to Buy scheme in place, a wider range of people can become part of it and enjoy access to quality housing in a brilliant location.”