Splash offers first units on Homebuy Direct terms

Developer Urban Splash will next week launch units for sale at two schemes via the Government's Homebuy Direct agency aimed at rescuing the first-time buyer mortgage market.

An event on 26 March will outline information on how to purchase a home under the scheme in which up to 50% of a property's value is contributed by the Government. It is available on two Urban Splash schemes; Chimney Pot Park in Salford and Sylvia at the 3Towers in Manchester.

The event will be held in Sylvia where apartments will start at £48,500 for a minimum 50% purchase on the Government's scheme.

As well as Urban Splash, the event will be hosted by Plumlife – the Government's Homebuy agency – and feature speakers from independent financial advisors and solicitors.

Nicola Wallis, Splash sales director, said: "Our main focus right now is helping purchasers into home ownership. The aim of our workshop night is to show potential purchasers that it is possible to own their own home, and that it can be affordable, exceptionally designed and in a great location."

The 3 Towers comprises three restored 1960s council blocks, named Emmeline, Christabel and Sylvia after the political campaigning Pankhurst sisters.

Dozens of developers have joined the Homebuy Direct initiative around the country to try and dispose of stock during the recession.