21st June 2019

Foundations, Liverpool City Council’s housing company, is celebrating the successful release of the first homes under its flagship rent-to-buy programme.

There was significant interest in the new build homes at its Harrington Row development on Park Street, Dingle, with more than 300 enquiries received during the first five days of marketing. All 14 homes were snapped up in under two hours of release.

The three-bedroom family homes are the first tranche of new build houses to be included in the company’s rent-to-buy programme.

Under the scheme, people will be able to rent the homes at 80 per cent of the market rent, so they can save the other 20 per cent towards a deposit in order to find a mortgage to buy the property.

They will be given an option to buy their home after 12 months and up to five years at a fair market price based upon an independent valuation at the time of purchase.

Prospective buyers will start to move in to the new Park Street homes from July 2019.

The scheme was available to people who live or work in Liverpool and are either first time buyers or who have had to previously sell a home because of a relationship breakdown. Other criteria include being in work but unable to buy a home on the open market due to lack of savings for a deposit towards a mortgage.

Foundations chief executive, Mark Kitts, said: “It was fantastic to see such high demand at the launch of our rent-to-buy scheme at Park Street, which saw all 14 homes reserved in a very short time. In particular, we received strong interest from local people and families in the new homes. This demonstrates the strong appetite for home ownership in our city and we’re confident that our rent-to-buy programme will open up exciting new opportunities for first time buyers in Liverpool.

“These 14 homes are just the start of Foundations’ journey and we’ll be working hard as we progress to ensure that even more people can benefit from working with us to help them get a foot on the housing ladder and own a home of their own.”

The new homes were marketed by Liverpool-based agency Redwing Living. Jessica Turner, sales manager, said: “We’re thrilled that all 14 homes at Harrington Row are reserved and that Foundations have enjoyed such a successful event. This interest generated around the development just goes to show how big the demand is for affordable housing in Liverpool, and how committed we are at Redwing in helping people onto the property ladder.

“The new homes at Park Street are ideal for first-time buyers and offer views of the Anglican Cathedral and the River Mersey. We’re looking forward to working closely with Foundations and the buyers to help them move in and settle into their new homes as quickly as possible.”

Foundations wants either to deliver or start a number of projects across the city over the next two years. These will deliver a mix of affordable and family housing, including apartments, for both sale and rent, as well as bespoke properties for the homeless, foster carers, large families, the elderly and people with a disability.

For more information about Foundations’ rent-to-buy scheme, go to the Foundations website: http://www.cbc034905c1775255d1bd023e-17800.sites.k-hosting.co.uk/liverpoolfoundationhomes/

Or contact the managing agents for the scheme, Redwing Living, at

their website: https://www.redwingliving.co.uk/

ENDS

For further information:

• Jon Brown 07811 451 184 brown@thisisinfluential.com
• Stephanie Bocking 07766 243 728 bocking@thisisinfluential.com

NOTES TO EDITORS FOLLOW

About Liverpool Foundations Homes

Liverpool Foundation Homes (Foundations) is Liverpool City Council’s ethical housing company. Foundations is the flagship housing policy for Liverpool Mayor Joe Anderson, who wants to use the company to re-balance the city’s social housing stock, revolutionise the Rent to Buy sector and drive up council tax receipts.

It has been tasked with creating bespoke properties for the homeless, foster carers, large families, the elderly and people with a disability and to improve the availability of good quality, affordable homes in the city.