First resident moves into CHIPS development in Manchester

If you’d told 28 year old Vicky Williams (pictured) six months ago that by the summer of this year she would be the first to reside in one of Manchester’s most iconic and eagerly anticipated residential buildings – she would not have believed it.

After graduating four years ago from Manchester Metropolitan University, Vicky, who is originally from Littlehampton in West Sussex, decided she wanted to make the city her permanent home. Like many of her peers, she rented her apartment from a private landlord, paying £425 pcm for a one bedroom flat in Didsbury.

In 2009, Vicky decided that she would ideally like to make the transition from renting to buying. Her job at The Bank of Scotland in central Manchester was going well, and it seemed to make better sense financially. The problem she came up against was that as the credit crunch continued to bite, lenders were asking for ever increasing deposits – sometimes as much as 25-30% of the property’s total value. As Vicky explains: “It became obvious that unless I could lay my hands on tens of thousands of pounds for a deposit, buying was looking increasingly unlikely. This was frustrating and depressing, because a place of my own would be an investment for the future and would feel ‘mine’ in a way that renting never can.”

But now, thanks to a new “Try Before You Buy” rental scheme being made available to aspiring first time buyers at CHIPS, Vicky’s long term dream of home ownership is set to become a reality. Vicky fell in love with a stunning, south facing one bedroom second floor apartment at CHIPS, available at a discounted monthly rent of just £440 per month, inclusive of the service charge.

“I knew the CHIPS building was being built, but never imagined I could ever afford to live there. I love Urban Splash’s contemporary style, and the location is amazing…just a few minutes walk into central Manchester. I’m proud to be the first resident at CHIPS. It’s such a striking building and is so completely different from anything else in the city. The Rent To HomeBuy scheme here will enable me to save up while I settle in…it’s the ideal stepping stone towards buying my home in the future,” said Vicky.

Under the new scheme, households earning up to £60,000 per year are able to rent a new home at a discounted rate for a period of between three and five years, while saving up for a deposit to buy a share. Rents are approximately 80% less than the real market value, with the option to buy either a share (shared ownership) or buy outright later when market conditions improve.

Available through Plumlife – the low-cost home ownership arm of non profit making organisation, Great Places Housing Group, CHIPS comprises an assortment of stunning one and two -bedroom apartments, available either to buy on a shared ownership basis, or on a rent to buy basis, as Vicky has done.

Designed by renowned architect Will Alsop, Chips is a nine storey mixed use building, comprising apartments and ground floor commercial space. The building is named such because it resembles three fat chips stacked on top of one another. All apartments feature contemporary fully fitted kitchen, stainless steel oven hob and extractor, modern bathroom suite, secure door entry system and secure parking. Select apartments boast balconies.

Chips is one of the key developments at New Islington, a large scale redevelopment in Manchester’s Ancoats area, described as Manchester’s own sustainable community. Once complete, New Islington will boast shops, pubs and bars, a tram stop, health centre, and 3,000 metres of canal side.

For more information on Rent To HomeBuy at CHIPS, please contact: www.plumlife.co.uk or call the sales team on 0161 447 5050.