Help for first-time buyers to buy Sheffield flat

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FIRST-time buyers are to be helped to purchase a home at Park Hill thanks to a government scheme.

A dozen apartments of one or two bedrooms are being made available in the iconic Sheffield ‘streets in the sky’ complex as part of the Shared Ownership scheme.

Prices will start at just over £30,000 for a 35 per cent share of the property.

For £45,000 buyers will own a 50 per cent share.

It is hoped the initiative will bring the redeveloped flats well within the reach of buyers on lower to middle incomes.

The minimum annual salary required from eligible buyers will be between £16,000 and £18,000 mark, and shared ownership also significantly reduces the deposit required by lenders.

The apartments, being redeveloped by Urban Splash, are being sold by the firm on behalf of Plumlife, the ‘affordable home ownership arm’ of housing group Great Places, an investor and partner in the project.

Plumlife deputy chief executive Matthew Harrison executive said: “The scheme brings these fantastic apartments within reach of ordinary working people who are currently priced out of the property market through no fault of their own.

“It’s crucial we support first time buyers in Sheffield, enabling them to stay in the hub of things and enjoy a really good quality of living at a price they can actually afford.

“This is a chance to buy a slice of Grade II listed history, brought bang up to date for future generations to come.

“The homes at Park Hill offer something truly unique and special - they look great, offering loads in terms of practical and aesthetic living space, and, crucially, they’re placed within a new, revitalised and flourishing community.”

Nicola Wallis, director of sales at Urban Splash, added: “The refurbishment of Park Hill has been about creating some great living spaces within an amazing building that can once again be home to a mixed community.

“Being able to offer some of the apartments through shared ownership is such great news in today’s climate.”

The next open day at Park Hill, this Saturday, October 13, from 11am to 6pm, will be the first opportunity to see the new show flat. Call 0114 303 0375 for more information.