Couple become Pendleton One's 50th first time buyers
13th February 2015
Liam Kyle and Claire Langley are the 50th first time buyers to purchase a new home at Pendleton One. Liam and Claire (centre) are joined by key players in the redevelopment of this area of Salford. (left to right) Rev Andy Salmon -
A COUPLE are celebrating after becoming the 50th first time buyers to snap up a new property at the Pendleton One.
This milestone has been achieved at a time when first time buyers are at their highest level since 2007, according to recent figures from the Halifax. Estimates suggest that during 2014, 365,000 people bought their first home – an increase of 22% year-on-year - welcoming news for developers like Pendleton One.
Civil engineer Liam Kyle and clinical scientist Claire Langley are the proud new owners of a three bedroom terrace house with a garden at Pendleton One, the first phase of homes that are being built as part of a £650 million regeneration scheme.
The couple saved a 10% deposit towards the cost of their new home which was on sale for an affordable £138,999.
And it’s a massive improvement on the two-bedroom city centre apartment they were renting in Manchester, says Liam.
Liam added: “The prices at Pendleton One were affordable and we instantly liked the house much more than the others we’d viewed. We got a really good deal on our mortgage and it’s costing us about the same each month as renting the two-bedroom apartment.
“The big difference though is that we are not just throwing money away every month. Now every payment we make is towards something we will own for the rest of our life. We have made a great investment and bought a house that will be our home for the rest of our lives.
“The house is also in a great location. A key factor was the close proximity to Langworthy tram stop which allows us to get into Manchester city centre really quickly. We’re thrilled we’ve got our foot on the housing ladder and are looking forward to many happy years in our own home.”
Pendleton One is a development of 293 new homes being built around Liverpool Street. The scheme forms part of the Pendleton Together regeneration project which is delivering major improvements to housing provision in the area over the next few years. In addition to the construction of more than 1,600 new homes, Pendleton Together is also refurbishing 1,200 existing council-owned homes.
Pendleton Together is a consortium led by social housing landlord Together Housing Group and also includes house builder Keepmoat and Salford City Council.
Steve Close, Chief Executive of Together Housing Group, said: “Work is progressing well at Pendleton One with a significant amount of new homes built, a show home open and new owners and new home makers regularly moving into the area.
“Liam and Claire are our 50th first time buyers to move into Pendleton One which shows just how popular these homes are proving with this market. Interestingly, like Liam and Claire 70% of the homes are being bought by local people who live within two miles of the development.
“What we are creating at Pendleton One is a growing community - with a mix of homes suitable for a range of individuals and families. On top of modern, energy efficient new homes we are also enhancing the local environment with the creation of new open spaces and parks. It’s not just creating homes people want to buy or rent - but a place where people want to live.”
Salford Assistant Mayor Cllr Gena Merret, said: “With the first show home opening in February last year, and now the 50th first time buyers moving in, we can see the real progress being made at Pendleton One. There’s a buzz about the place with a genuine sense that we are seeing the transformation of this part of Salford.
“We are widening housing choice in the area and improving housing quality. These bricks and mortar are the foundations on which this new community is being built, but we are also focusing on creating a better neighbourhood for people too.”
Apartments are available at Pendleton One for as little as £79,995. And with the Help to Buy scheme available, home buyers can also take advantage of an interest free loan from the government to cover 20% of the property’s cost. Under Help to Buy, buyers need a 5% deposit and fund the remaining 75% of the asking price via a mortgage.
Existing buyers could also pocket £500 if they can recommend the development to a friend who then goes on to purchase a new home. The buyer also gets a £500 cash bonus under the recommend a friend scheme. See the Pendleton One website for details www.pendletonone.co.uk .
To book a viewing at the show home visit the sales office at 365 Liverpool Street, Pendleton, Salford, M5 4FL. The sales office is open on Mondays from 10am to 6pm, and Thursdays to Sundays from 10am to 5pm. For more information visit the website www.pendletonone.co.uk or call 0161 925 0416.
The Government’s Help to Buy initiative offers buyers with a 5% the chance to take advantage of a five year interest free loan covering 20% of the value of the property. The remaining 75% of the property’s value is funded through a mortgage.