Hf jan 2016 single pages by homefocus

homefocus JAN/FEB 2016

‘WE WERE KEEN TO FIND A CONVENIENT AND ATTRACTIVE LOCATION… WITH IMPRESSIVE HOMES THAT WE COULD AFFORD’ says Maiken

HOME OWNERSHIP IS AFFORDABLE SHARED OWNERSHIP AND HELP TO BUY

REASONS TO BUY NOT RENT

OPPORTUNITIES FOR FIRST TIME BUYERS

WIN

A FANTASTIC DRAPER REDLINE TOOL KIT AT T R ACT I V E , ACC E S S I B L E , A F FOR DA B L E HOM E S

SPACIOUS CONTEMPORARY LIVING

Enjoy the high life at Rivers Apartments in one of the beautiful duplex penthouses, arranged across the top two levels of this impressive 22 floor tower in Tottenham. Designed to maximise space and light there are only two 3 bedroom penthouses available for shared ownership, both benefiting from private balconies, one on each floor.

PRICES FROM £160,125 (BASED ON 30% EQUITY OF A 3 BEDROOM PENTHOUSE VALUED AT £534,050) Maximum household income £85,000 for a three bedroom home.

www.riversapartments.co.uk

Tel: 0800 058 2544

www.newlonhomeownership.org.uk

Publisher’sComment

homefocus ISSN No 1470-0360

ADVISORY PANEL Maddie Cross LONDON BOROUGH OF BEXLEY Dave Evans BE CREATIVE LONDON Tony Harker EAST THAMES Dave Lakin GRAND UNION HOUSING GROUP Sandy Macmillan SOUTHERN HOUSING GROUP Yvette Ruggins SOUTH PARK ASSOCIATES Isabel Saville CONCORDIA HOUSING CONSULTANCY Simon Scott ORIGIN HOUSING Sharon Shaw MARTIN SHAW CONSULTING Richard Stone CENSEO LTD Andrew Theoff DIRECTION LAW Helen Towner HOMES AND COMMUNITIES AGENCY Greg Warner-Harris SPECTRUM HOUSING GROUP

ALL CHANGE FROM APRIL BIGGER AND BROADER OPPORTUNITIES TO BECOME A HOME OWNER 15 years ago, something like 60% of people under 35 owned their own home. By the end of this year, it seems set to fall to around half that. Call it market forces, a housing crisis or anything in between, but the fact is that an awful lot of people are frustrated by not being able to get onto the housing ladder. Fighting against the trend and offering ways for average earners to

EDITOR Alex Randell e-mail: info@homefocusmagazine.co.uk SUBSCRIPTIONS & GENERAL ENQUIRIES Julie Baugh Tel: 0203 096 7141 e-mail: julie@homefocusmagazine.co.uk

buy a home have been incentives such as shared ownership and Help to Buy. There’s a good chance you’ve heard of them, but if you’re in the market to become a first time buyer, now is the right time to find out more – it could be the difference between you getting a home of your own, or not!

PUBLISHER Jeffrey Gritzman Tel: 0203 096 7141 e-mail: jeffrey@homefocusmagazine.co.uk

Many people think (wrongly) that the schemes have been restricted

PUBLISHED BY Graid Publications Ltd, 1 Kings Hall 12b Kings Road, Westcliff SS0 8LR Tel 0203 096 7141

be open to any first time buyer with a household income of less than

DESIGN & PRODUCTION John Eldridge Design

to council or housing association tenants, or public sector workers. Well they’ll have to think again! From April, shared ownership will £80,000 outside London, or £90,000 inside London. That’s it…that’s a pretty broad group. Only military personnel will be given any priority to take precedence over anyone else. Also from April, the government will lend Londoners 40% of the price of a new home costing under £600,000 (outside of London, it’ll

WEBSITE www.homefocus.co.uk

be 20%) through their Help to Buy scheme and there will be a special starter home initiative for first time buyers under 40. There will be more detailed information in the March issue of homefocus, but for now, take heart that the chances of you getting on the ladder are improving.

Good home hunting

Jeffrey Gritzman • Publisher Supports the aims of homefocus

homefocus • JAN/FEB 2016 3

From house hunting to house war ming

Contents JANUARY/FEBRUARY 2016

Buying Guide

Hot Properties

6 Start by buying a slice

12 London

And enjoy your first taste of homeownership

A selection of affordable homes in the Capital

8 A slice of the cake

18 South

Choosing the best way to buy your first home

And some in the south

21 East and south east 10 Have your cake and eat it

Affordable properties in the east and south east

Buying slice by slice can work out less each month than renting

25 South west And some in the south west

40 It doesn’t have to be new-build

28 Midlands

If you thought shared ownership only covered new-build, think again!

Finally, find affordable homes in the midlands

42 Buying an extra slice

All areas as defined by the Homes & Communities Agency

When it suits you, you can buy more shares, increase your equity in your home and pay less rent

48 Finding your place on the ladder All kinds of people climb onto the ladder with affordable home ownership. Read some of their stories

4 homefocus • JAN/FEB 2016

Just for you 3 Publisher’s comment All change from April. Shared ownership and Help to Buy will be easier to access from April

Where next?

Homefinder Directories Our what’s on list of events, affordable new developments and contact boxes will help you. Or visit www.homefocus.co.uk/Low-costhomes-near-you.

54 55 56 60 61 62 64 65 66

Introduction What’s on – events Development listings East and south east South west London Midlands South Legal directory

homefocus

WIN

30 Lifestyle

Great Advice

Competition

34 Cherish your home

32 What they say about shared ownership

52 Win a fantastic Draper Redline Tool Kit

homefocus gives its views on the things you hear

For all those jobs around the house

Cherished Gold is the interior colour for 2016

36 Perfect Pastels Why not give this season’s winter pastel trend a try?

44 Looking good to the lenders

38 Is your bedroom tired?

Improving your credit rating will get you the best mortgage offers

A new accessory or the right piece of furniture will transform it

46 Moving checklist

Who to tell you’re on your way

50 Ask the Experts Buying shared ownership is fine, but what do you need to know when you come to sell. We asked some experts

Contact us... E-MAIL: info@homefocusmagazine.co.uk PHONE: 0203 096 7141 MAIL: homefocus magazine 1 Kings Hall, 12B Kings Rd Westcliff SS0 8LR

homefocus • JAN/FEB 2016 5

START BY BUYING A SLICE

And enjoy your first taste of home ownership…

ack in the day, people lived at home or rented a property while they saved for a deposit so they could buy the home they wanted. But for people with moderate incomes, that’s no longer possible. So wouldn’t it be great if you could start by buying just a slice of a home? Something that starts you off on home ownership and lets you buy more slices when you can afford them.

Sensible portions Well, you’ll be pleased to know that there are programmes designed to help you buy a first slice of a home – anything between 25% through to 90% depending on your situation and need. The schemes are collectively known as ‘affordable home ownership’ and it’s called affordable for good reason; it ensures that you won’t be stretching your finances until all you have left are a few crumbs.

The icing on the cake One of the best things about affordable home ownership is that buying a slice often ends up costing less per month than renting a similar place privately. Sometimes, a lot less. Throw into the mix a deposit that is smaller than you’d otherwise expect, and there you have it…the icing on the cake! When you’re looking for an ‘affordable home’, start by contacting a Help to Buy Agent, an organisation appointed by the government to promote and co-ordinate affordable home ownership in a particular area. There’s a list of Help to Buy Agents and what areas they cover on page 54. Things work a little differently in London, but wherever you are, Help to Buy Agents will help you find your own home.

6 homefocus • JAN/FEB 2016

Another slice When your circumstances alter, you can buy more slices in your home until you own it outright – this is called staircasing. If you have a shared ownership home, you can usually staircase until you own 100%. For equity loan schemes, you can pay off some or all of the equity loan. If you need to move to a different area, or have a pressing need for a larger home, you can look to move to another shared ownership property. And when you come to sell, your Help to Buy Agent is likely to hold a ready-made list of people who are hoping they can buy from you.

Three ways to slice the cake There are three formal affordable home ownership schemes to get onto the ownership ladder and the scheme to go for depends on your personal circumstances. There’s no guarantee that all options will be available to you, although there are developments where both shared ownership and equity loans are available. There are more details of the specific schemes on the next two pages, but essentially they are:

Shared ownership Also known as part buy/part rent. This works by allowing you to buy a share of your home and pay a subsidised rent on the remainder, which is owned by a housing association. You’ll be expected to buy the largest share you can, but you’ll be able to discuss what you can afford.

Equity loans You own 100% of your home, but initially, you only have to pay for a percentage of the cost with your mortgage and

Buyer’sGuide

deposit. You can defer the rest for a while as it’s covered by an equity loan. There’s nothing to pay on the equity loan for a few years, and the scheme you choose will determine whether you pay any interest after this and when you have to pay the loan back.

Save to buy There are two options offered by housing associations that will help and encourage you to save towards a deposit for a home. Rent to buy will allow you to pay a reduced rent on the understanding that you will buy that specific home in due course, and intermediate market rent will provide you with a reduced rent to save for a deposit to buy elsewhere.

Who eats the cake? Affordable home ownership schemes are designed for a whole range of people who’ve been otherwise priced out of the market, so don’t make the mistake of thinking it’s just for key workers and council tenants. The first time buyer schemes such as shared ownership and resales are appropriate for anyone with a household income LESS than £60,000 (£71,000 if you’re looking for one or two bedrooms in London and £85,000 for three bedrooms or more). And for Help to Buy, the criteria is even wider.

You COULD be eligible for the schemes if… • You’re a first time buyer • You’ve owned a home in the past but don’t own one now • You need to buy a home of your own for the first time, for example after a relationship breakdown • You own your own home but it’s far too small for your needs – for example you have two children in a onebedroom flat – and you can’t afford to buy somewhere bigger • You can’t otherwise afford to buy a suitable home in the area you need to live in • You’re working even though it’s not full time (you’ll have to show that you earn enough to cover your housing and living costs though. And you might be able to count longterm benefits towards your income) • You’ve got a large chunk of money to put down (for example if you have equity from a previous home after a relationship split and use that towards buying your share outright. Again, you’ll have to show you have enough coming in to cover your housing and living costs).

You’re NOT eligible for shared ownership if... • You already own a home that you’re living in and it’s adequate for your needs

• You can already afford to buy a suitable home of your own in your area

You’re NOT eligible for any affordable home ownership scheme if... • You want to buy a property to rent out. LCHO funding is there to help people to buy a home, not to become a landlord • You already own a home and now want to help your adult child or children to get on the ladder. You can help them with their deposit BUT it’s your children who would have to apply and be eligible. • CCJ’s or a bad credit rating make it unlikely that you can pass financial assessments

What is the best way to buy a slice? Check out the next two pages and see which of the affordable home ownership schemes is right for you. You’ll find examples of people that started by buying a slice right throughout the magazine.

Jargon-buster This will help explain some of the ‘lingo’ you’ll come across throughout the buying process. Affordable home ownership Formal schemes designed to help you become a home owner. Sometimes referred to as Low Cost Home Ownership (LCHO). Usually means shared ownership or Help to Buy Equity Loan. Agreement in Principle (AIP) A document from a mortgage lender indicating how much they are likely to lend you. It doesn’t guarantee that you will be offered that much (or any mortgage at all) until all the info you provide is checked. Exchange of Contracts The point when your solicitor is satisfied with the paperwork, the mortgage has been offered and contracts can be exchanged with the seller. The exchange binds both sides to the transaction. Housing Provider Any organisation offering affordable home ownership. It could be a housing association, private developer, local authority or charity. Lease A long term agreement (often 99 or 125 years) stating your rights as the leaseholder and also your responsibilities. These responsibilities will include paying a ground rent to the freeholder or landlord and for services provided. As a general rule, all shared ownership and Help to Buy apartments will be leasehold, as are shared ownership houses up until the point when 100% of the shares are purchased. Open Market Bought in the more traditional way – i.e through an estate agent or direct from a developer without the benefit of an affordable home ownership scheme.

homefocus • JAN/FEB 2016 7

START WITH A SLICE

There’s more than one way to get yourself on the housing ladder, and buying, slice by slice, opens up your options. This guide gives you an outline of all of the affordable home ownership schemes... Scheme type

Shared ownership

Help to

Scheme name

New-Build

Resales

Help to Buy Equity Loan

THE INGREDIENTS

Buy between 25% and 75% of your home and pay a subsidised rent on the remainder. You can buy more shares over time. You may see shared ownership referred to as Help to Buy shared ownership or part buy/part rent.

Existing shared ownership properties where the owners are looking to move on. You buy the share they are selling and pay a subsidised rent on the remainder. You may see resales referred to as ‘existing shared ownership’.

Available on new-build properties up to £600,000. You buy 100% of your home but only have to pay for 80% initially. The rest is covered by an equity loan from the government. There’s nothing to pay on the equity loan for the first five years, after which there’s a small interest charge.

THE TASTE

Ideal in an area where prices are high as you’ll have a smaller mortgage and you’ll only need to find the deposit for the share you’re buying.

Not limited to new homes so may give you a wider choice of styles. There could be more flexibility with regards to who is eligible. There’s more about resales on pages 40-41.

Great if you can almost afford your home but don’t have a thumping great deposit to start you off. You only have to find a 5% deposit. Not restricted to first time buyers, so you can use the scheme to move to a larger home or a more expensive area.

THE CRUMBS

New-build properties may not be to your taste. If you’re looking for period features, you might find a shared ownership home that’s a conversion of an older building.

You’re unlikely to be able to buy a smaller share than the previous owners are selling, though it may be possible to buy more.

You still have to be able to afford 80% of your home with your mortgage and deposit.

BUY FROM JUST 25% WITH A SMALL DEPOSIT

WIDE CHOICE

NOT JUST FOR FIRST TIME BUYERS

WANT MORE INFORMATION? E-mail info@homefocusmagazine.co.uk

8 homefocus • JAN/FEB 2016

Buyer’sGuide

Finding the right scheme can be a bit daunting, so focus on this question... What slice of the home you need do you think you could buy with your deposit and mortgage? Between 25% and 75%

Shared ownership could be right for you

Around 70% or more

Consider Help to Buy or an equity loan

100%, but I can only afford a 5% deposit Check out the mortgage guarantee schemes

I haven’t got enough for a deposit yet

Time to start saving! Or take a look around for a try before you buy option

Buy offers

Try before you buy

Discount offers

Mortgage Guarantee

Rent to Buy

Discounted Market Sale

Intermediate Market Rent

Designed to make 95% mortgages available to more people. It also means that you only need 5% deposit. Available on new and older properties costing up to £600,000.

Available on selected new developments so you can rent the home you wish to buy at a reduced rate, on the understanding that you’ll buy it through shared ownership within a specific time. In London there’s a similar scheme called Rent to Save.

Buy a new-build property at a discount against market value. For example, the purchase price may be 50% of current market value (the precise discount changes property to property), but when you sell, the same discount is applied to the current market value. So the discount percentage is carried forward forever.

Rent a brand new or refurbished home or a home that is being re-let for a reduced rent. The rent charged is usually around 80% of what you would expect to pay, if you were renting from a private landlord.

Perfect if you can afford the mortgage repayments but don’t have a large deposit. Available on new and older properties.

Good for those who want to buy 25% of their home, but are not in a position to do so straight away – for example if you don’t yet have a deposit saved.

Ideal in really high value areas such as central London. Gives the opportunity to own a small stake rather than renting.

Great if you’re looking to rent for the short term whilst building a deposit to buy your first home.

You still have to be able to get a mortgage for 95% of your home.

There are very few Rent to Buy properties available, and no more are planned outside London.

Only available on a small number of new-build properties. The number of lenders and the choice of mortgage products is limited.

This is a shorthold tenancy agreement only, initially covering just 6 months, after which the agreement can be extended.

FOR HIGHER WAGE EARNERS

SAVE TO BUY YOUR HOME

HIGH VALUE AREAS

TYPICALLY 20% LESS THAN MARKET RENT

homefocus • JAN/FEB 2016 9

ONE WAY TO HAVE YOUR CAKE AND

EAT IT You can buy a place of your own and find it works out less than renting...

f you’re a typical first time buyer, you’ve probably rented for a while before deciding to buy your first home. Ever wondered what that costs you? You may find yourself a little shocked. Last year, mortgage lender Santander reported that many tenants spend £42,000 on rent before taking the plunge and buying. For couples, the figure goes to £80,000. Imagine! £80,000! And in London, the figures are even higher. Think of all the things you could do with that kind of money – buy a slice of your own home for a start! So why not just buy a home straight away? When you’ve just graduated, or you’ve been living at home with your parents, or even if you’ve recently separated, your first thoughts will probably be to rent. After all, it’s quick, more affordable, and it’s what people do. But should they? Granted, it’s quick. You can find

‘It’s an unbelievably low cost to own a home, especially in Greater London’ Traffic engineer Paul Bunn had enough of renting when, for the third time in three years, he was forced to go through the stress of finding a new home. Paul was determined to find a home of his own but the high prices of home ownership made this a daunting prospect. He says, ‘I’d been renting a four-bedroom detached house with friends for the last year. I wanted to stay in Croydon as I love the area, but I wasn’t sure if I’d be

10 homefocus • JAN/FEB 2016

able to get on the property ladder here, - then I found out about a range of shared ownership properties offered through Affinity Sutton’.

Shared ownership doesn’t just help people who can put down small deposits, it can also help those with substantial savings that are struggling

SmartBuyer a place and sometimes move in the following week - but it isn’t necessarily secure. At the end of your tenancy, your landlord could decide not to renew – and because you’ve been spending all your hard-earned money on rent, you’re unlikely to have had anything left over to save for a mortgage deposit. So you have to rent again… And as for renting being more affordable…well that’s not always the case. If you look at the figures on the right, you’ll see that buying a home through an Affordable Home Ownership scheme really can mean that you pay out less each month than if you were renting. So when you’re looking for your first place, don’t immediately assume that renting should be first choice. If you buy your own home right away, you could save yourself a fortune. Why waste years and £42,000 paying someone else’s mortgage when you could be paying your own?

to raise a mortgage. Through the shared ownership scheme Paul purchased a large (64%) slice of a onebedroom, one bathroom apartment at Affinity’s Balmoral House, paying just £112,000 of the full market value of £175,000 with a deposit of £16,800. His monthly outgoings on mortgage and rent are just £682 per month. ‘It’s an unbelievably low cost to own a home, especially in Greater London’ he says. ‘Originally I was unsure about shared ownership but having now been through it I want to convey to everyone how incredibly helpful it is. The most important thing is that I now own my own home, something I’ve been working towards since I left university. I feel a lot more secure about the future.’

More from the same provider? Phone 0300 100 0303 or go to www.homefocus.co.uk/Low-CostHomes-Near-You.

Check the figures in your area… We’ve done a bit of checking around**, and compared the price to rent a typical two-bedroom property with the cost of buying outright with a 95% mortgage, buying different shares through shared ownership, and buying through the 80% Help to Buy equity loan scheme. So do the sums and see if buying a slice works for you. Tonbridge £269,000 Deposit

Mortgage

Mortgage pcm

Rent pcm

Total monthly costs

25% share

£3,362

£63,888

£373

£462

£835

50% share

£6,725

£127,775

£747

£308

£1,085

80% Help to Buy equity loan

£13,450

£201,750

£1,179

£0

£1,179*

100% buy

£13,450

£255,550

£1,494

£0

£1,494

Private rent

£990

Deposit

Mortgage

Mortgage pcm

Rent pcm

Total monthly costs

£2,863

£54,387

£254

£315

£569

Milton Keynes £183,000

25% share 50% share

£4,575

£67,924

£508

£210

£718

80% Help to Buy equity loan

£9,150

£137,250

£802

£0

£802*

100% buy

£9,150

£173,850

£1,016

£0

£1,016

Private rent

£935

Mortgage

Mortgage pcm

Rent pcm

Total monthly costs

Farnborough, Hants £229,000 Deposit 25% share

£2,250

£54,387

£318

£394

£712

50% share

£5,725

£108,775

£636

£262

£895

80% Help to Buy equity loan

£11,450

£171,750

£1,004

£0

£1,004*

100% buy

£11,450

£217,550

£1,272

£0

£1,272

Private rent

£1,250

Deposit

Mortgage

Mortgage pcm

Rent pcm

Total monthly costs

Enfield £332,000 25% share

£4,150

£78,850

£461

£570

£1,031

50% share

£8,300

£157,700

£992

£380

£1,372

80% Help to Buy equity loan

£16,600

£249,000

£1,456

£0

£1,456*

100% buy

£16,600

£315,400

£1,844

£0

£1,844

Private rent

£1,320

Southwark £723,000

Please note that this average price excludes properties in excess of £1 million and is still above the Help to Buy limit of £600,000 and (without a much higher deposit) is beyond the reach of shared ownership applicants with a max household income of £71,000.

Deposit

Mortgage

Mortgage pcm

Rent pcm

Total monthly costs

25% share

£9,038

£171,712

£1,004

£1,242

£2,246

50% share

£18,075

£343,425

£2,008

£828

£2,836

80% Help to Buy equity loan

£36,150

£542,250

£3,170

£0

£3,170*

100% buy

£36,150

£686,850

£4,015

£0

£4,015

Private rent

£2,940

The small print

We’ve used an average repayment mortgage over 25 years at 5% to get our figures. Deposit amounts are 5% which reflects what is available in the market at the moment. Please note that Help to Buy Guarantee Mortgages are NOT available in conjunction with LCHO schemes. But we have used 5% deposits for 100% purchases assuming that the mortgage will be attained using a Help to Buy Mortgage Guarantee. Rent for shared ownership is based on 2.75% of the share you don’t own, per year (we then divide this by 12 to get a monthly rate). Private rents and property prices are based on averages in the area, taken from popular property websites not specific properties. * Please note that with a Help to Buy equity loan, you will be paying back some interest from year 6 onwards. **Our typical prices and rents are based on figures from property portal, zoopla.

homefocus • JAN/FEB 2016 11

London

Starting to think that you can buy your own home? Could buying in the Capital be more cost effective than renting or commuting? Then take a look at this selection of affordable home ownership homes. There are more listed on page 56 & 57 and helpful contacts on our London homefinder, pages 62 & 63. Or visit www.homefocus.co.uk/Low-cost-homes-near-you.

BOW RIVER VILLAGE E3, prices and shares tbc

Southern Home Ownership is offering shared ownership at their waterfront development in Bow where they have three x one-bedroom, four x two-bedroom and five x three bedroom apartments available. At the time of going to press, prices and share values are yet to be confirmed. All of the homes are finished to a high

standard with white gloss kitchens with built-in appliances, tiled bathrooms and neutral carpets in the bedrooms and living rooms. Each apartment has a private balcony or roof terrace, and for those with an eye for home entertainment, there is provision for Sky+ and Hotbird. For convenience and security, there’s an entry phone system.

Bow River Village sits between the A12 and the River Lea. So you’ll find river walks and shared spaces to enjoy beside the water. For getting to work and around town, Bow River Village is well connected. Buses stop nearby, Bromley-by-Bow underground station (Hammersmith & City and District Lines) is a five minute walk and Bow Road DLR less than ten. From local stations, it’s an easy 15 minute commute to Canary Wharf or the City. Bow River Village - phone 08456 121271

More about Bow River Village? Go to www.homefocus.co.uk/Bow-River-Village * Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

12 homefocus • JAN/FEB 2016

London Properties

SPECTRUM & THE MERIDIAN Lewisham, from £84,375 for 25% Lewisham is up and coming!

Lee Station is only 440 yards away and

Considered one of the best transport

provides services into London and Kent.

connected areas in south east London,

The Meridian comprises three x three-

Lewisham recorded the second-fastest

bedroom terraced houses featuring quality

rate of house price rises in the capital

fitted kitchens including a stainless steel

last year.

oven, hob, and hood. Each house has a

But to help make prices more affordable, Affinity Sutton has a range of shared ownership properties across two sites in Lewisham. Spectrum comprises nine x twobedroom apartments, with quality-fitted kitchens and private patio or balcony.

private front and rear garden. Lewisham Rail/DLR is a seven-minute walk away. Two-bedroom apartment: Full value: £337,500 Minimum share: 25% • Cost of share: £84,375 5% deposit: £4,219 • Mortgage on share*: £471 Rent on remaining share**: £580 Total costs: £1,051

Interested? For more on Spectrum or The Meridian, phone 0300 100 0303 or visit www.homefocus.co.uk/SpectrumThe-Meridian

THE VIEW Bow, shares & prices tbc Ever wondered how properties get their names? Well it’s not too difficult to guess at East Thames’ new development, The View, where just four two and three-bedroom penthouse apartments with amazing views across London are coming soon for sale through shared ownership. These homes are finished to a very high standard, offering private

terraces, kitchens with stone worktops and wine coolers and en-suites (to selected homes). Parking is available. Mile End (on The District, Hammersmith & City and Central Line) and Bow Road underground plus Bow Church DLR stations are all less than a mile from The View.

Interested? For more on The View, phone 0300 303 7333 or visit www.homefocus.co.uk/The-View

MILLPORT Tower Hamlets, from £143,000 for 40% Located close to Canary Wharf, Greenwich Village and the O2 arena, Notting Hill is offering a collection of one and two-bedroom apartments at its new development, Millport. There are three DLR stops within walking distance: Mudchute DLR station (100 metres from Millport’s front door) which provides a speedy connection to Canary Wharf’s eclectic mix of restaurants, bars and high street retail stores. Canary Wharf station on the Jubilee line is one mile to the north, while Crossharbour and South Quay DLR stations are both approximately half

a mile away. Meanwhile, 2018 will see the 73-mile Crossrail line, with one of its largest interchange stations at Canary Wharf providing easy access to West London. All homes come fitted with Indesit kitchen appliances and benefit from outdoor space. Two-bedroom apartment: Full value: £357,500 Minimum share: 40% • Cost of share: £143,000 5% deposit: £7,150 • Mortgage on share*: £794 Rent on remaining share**: £491 Total costs: £1,285

Interested? For more on Millport, phone 020 8357 4444 or visit www.homefocus.co.uk/Millport

* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

homefocus • JAN/FEB 2016 13

Adam Reynolds Previous situation: Renting Scheme:

Shared ownership

Location:

West London

Provider:

Genesis

aving spent years renting in and around West London, Adam Reynolds has his feet firmly on the ladder thanks to shared ownership at Genesis’ Factory Quarter development in Acton. Adam says, ‘I bought a 55% share in my apartment 18 months ago, and it’s been fantastic. I couldn’t have afforded to buy a place like this without the help of shared ownership - I think it’s a very

Over one year on and feeling secure sensible and responsible route to home ownership. It has opened a door for me: instead of spending money on rent, I’m investing in my future.’ Adam continues, ‘I feel very secure in my finances - my outgoings are the same each month and there are no surprises, the monthly costs are really manageable, and I can see where my money is going. Shared ownership has given me a better understanding of my budget - it’s made

me more careful with my finances. Now that I have a home of my own, most weekends are spent entertaining guests which I love. My disposable income is better invested in items to improve my home, including power tools, prints to decorate walls and far too many soft furnishings! I feel a lot more in control of my money and am looking to save and buy another share next year. I’m on the ladder in London.

Will this story inspire you to become a homeowner? Affordable London properties are listed on pages 56-57. Factory Quarter is now sold out but for other properties (from the same provider) call 0203 811 2861 or visit www.homefocus.co.uk/ Low-cost-homes-near-you.

14 homefocus • JAN/FEB 2016

London Properties

RONEO CORNER

RIVERS APARTMENTS

Romford, from £72,000 for 40%

Tottenham, from £68,625 for 30%

Estuary is offering shared ownership on a range of 37 one, two and threebedroom apartments in South Street less than 10 minutes from Romford’s town centre. Each apartment has been thoughtfully designed with stylish architecture and smart interiors, to include a fitted kitchen with built-in hob and extractor hood, a washing machine and plumbing for a dishwasher. Laminated flooring is in the kitchen and living room and the bedrooms are fully carpeted. Each apartment has a balcony and an allocated parking space. Romford’s railway station offers a regular service to London commuters and The Roneo Corner development is just a walk away from shops, banks and supermarkets.

Newlon is offering shared ownership on one, two and three-bedroom apartments in the next phase of their 22 storey tower, Rivers Apartment, at the heart of the Tottenham regeneration. Each apartment has a fitted kitchen with a built-in oven, hob and stainless steel extractor hood. White goods include a fitted fridge/freezer, a washing machine and dishwasher. Bathrooms at Rivers Apartments are modern with white suites, chrome fittings and ceramic wall and floor tiling. All apartments have a balcony and selected properties have allocated parking. One-bedroom apartment : Full value: £228,750 • Minimum share: 30% Cost of share: £68,625 • 5% deposit: £3,431 • Mortgage on share*: £381 Rent on remaining share**: £367 • Total costs: £748

One-bedroom apartment: Full value: £160,000 • Minimum share: 40% Cost of share: £72,000 • 5% deposit: £3,600 • Mortgage on share*: £400 Rent on remaining share**: £275 • Total costs: £752

IInterested? For more on Rivers Apartments, phone 0800 058 2544 or visit www.homefocus.co.uk/RiversApartments

Interested? For more on Roneo Corner, phone 0300 304 5000 or visit www.homefocus.co.uk/Roneo-Corner * Approximate figures only, assuming a 25 year mortgage at 5%

** Assuming rent at 2.75% of the share you don’t own, per year *** Help to Buy property. Interest on equity loan starts after 6 years

JESS O PS AT N EW PROV ID EN C E W HAR F DOCKLANDS E14

The perfect mix for sophisticated living. Secure a share in one of our luxury high specification apartments within walking distance of Canary Wharf in our superb Jessops building. Choose from a range of spacious 1 and 2 bedroom apartments on offer from just £106,875*.

Call

0203 811 2861 to book a viewing

or visit genesishahomes.org.uk/new-providence-wharf

Prices and details correct at time of going to press. *Based on a 25% share of the full market value £427,500. Photograph shows typical home at New Providence Wharf.

homefocus • JAN/FEB 2016 15

London Properties

BASE 15 Peckham, shares and prices tbc BASE 15 is Southern Home Ownership’s

galleries, a rooftop cinema, pop-up

new development in Peckham,

restaurants, independent cafes and

consisting of one and three-bedroom

bars and cute little shops. But if you’re

apartments available through shared

looking for some green space, Peckham

ownership. Of the 8 homes, two (both

Rye Park and Common is only a 15

one-bedroom) have been specifically

minute bus ride away, where you

adapted for wheelchair users.

have landscaped parks, wooded areas,

Situated on the Queens Road, BASE 15 has great transport links with

Japanese gardens, ponds, playgrounds and loads of parakeets living in the trees.

Queens Road just a three minute walk away and Peckham Rye under 15 minutes. Peckham is thriving with art

Interested? For more on BASE 15, phone 0300 555 2171 or visit www. homefocus.co.uk/Base15

WESTFIELD HOUSE Earlsfield, from £132,500 for 25% Thames Valley Housing is offering 33 one, two and three-bedroom apartments opposite a large park in Earlsfield and within easy reach of Wimbledon and Central London – all on a shared ownership basis. The development is part of a new community of 190 homes built by Linden Homes. The apartments are housed in two buildings set in landscaped grounds with riverside walks on the River Wandle and cycle paths to the 55-acre King George’s Park opposite. There’s

even a café in the grounds where residents can meet and relax. Every apartment has its own private balcony or terrace and the larger apartments include a second bathroom en-suite to the master bedroom. Some of the homes have an allocated space in the basement car park. Two-bedroom apartment: Full value: £530,000 Minimum share: 25% • Cost of share: £132,500 5% deposit: £6,625 • Mortgage on share*: £736 Rent on remaining share**: £911 Total costs: £1,647

Interested? For more on Westfield House, phone 020 8607 0550 or visit www.homefocus.co.uk/Westfield-House

CHEVIOT GARDENS (for the over 55’s) West Norwood, from £147,000 for 40% Notting Hill is offering 18 one and two-bedroom apartments, on a shared ownership basis, to those aged 55 plus, on the corner of Knight’s Hill and Thornlaw Road in West Norwood. As part of the wider development of 84 apartments, those buying through shared ownership will have full access to communal facilities and extra care facilities designed especially for independent and active seniors. All the apartments are self-contained units with access to outside space. Local shops, cafés and restaurants

line the high street in West Norwood but actually available on-site at Cheviot Gardens, is a café/restaurant, communal lounge, IT suite, landscaped gardens and therapy room. Two-bedroom apartment: Full value: £367,500 Minimum share: 40% • Cost of share: £147,000 5% deposit: £7,350 • Mortgage on share*: £816 Rent on remaining share**: £505 • Total costs: ££1,321 Please note that as a 55+ development, when you buy 75% then no rent is payable

Interested? For more on Cheviot Gardens, phone 020 8357 4444 or visit www.homefocus.co.uk/ Cheviot-Gardens

16 homefocus • JAN/FEB 2016

homefocus â&#x20AC;˘ JAN/FEB 2016 17

South

Starting to think that you can buy your own home? Could buying in the south of the country be more cost effective than renting? Then take a look at this selection of affordable home ownership homes. There are more listed on pages 58 and helpful contacts on our south homefinder, page 65. Or visit www.homefocus.co.uk/Low-cost-homes-near-you.

FAIR OAK

Eastleigh, prices and shares tbc Stonewater has started construction on the first phase of a new development of village homes in Fair Oak on the outskirts of Eastleigh. A number of the homes will be available under the shared ownership scheme. Sited just off Winchester Road, Fair Oak will be built in partnership with Eastleigh Borough Council, Bloor Homes and Linden

Homes. When the final phase is completed in 2017, the development will see a total of 330 homes. Stonewater will be offering shared ownership on a group of two and three bedroom homes; each house will have its own private garden and the apartments will have access to a communal outdoor area. All the properties will have allocated parking.

The new homes will be in easy reach of the village centre, and will be built to achieve a Code for Sustainable Homes Level 4 energy-efficiency rating. Typical energy saving features include good insulation and PV panels, all designed to help keep fuel bills and carbon emissions down. Fair Oak - phone – 023 8065 8858

More about Fair Oak? Go to www.homefocus.co.uk/Fair-Oak * Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

18 homefocus • JAN/FEB 2016

South Properties

ALVER VILLAGE

THE PADDOCKS

Gosport, from £36,750 for 35%

Minchinhampton, from £236,760 for 80%

First Wessex is offering shared ownership on the last three remaining apartments at Alver Village, part of a regeneration scheme in Gosport. One and two-bedroom options are available. Each kitchen has a Howden Greenwich light oak fitted kitchen with granite work top and plumbing for a washing machine. The contemporary bathrooms have plain white tiling, and Aqualux Aqua 4 showers. The kitchen and bathroom have warm beech wood effect anti-slip vinyl flooring and elsewhere, there’s neutral coloured carpets and underlay. Ground floor apartments have patios, upper floors have balconies and every apartment has an allocated parking space.

Bellway is offering Help to Buy on three and fourbedroom homes in Minchinhampton in South Oxford, a semi-rural area with excellent transport connections, great schools, and fantastic countryside and scenery. The three-bedroom house, The Mulberry, has an open-plan living and dining room, and a front-facing master bedroom. The fitted kitchen includes an integrated Zanussi fan assisted oven, matching splashback and contemporary work surfaces. Close by are picturesque lakes, public parkland and facilities such as the Didcot Leisure Centre, Corner Stone Arts Centre and popular Orchard Shopping Centre.

One-bedroom apartment: Full value: £105,000 • Minimum share: 35% Cost of share: £36,750 • 5% deposit: £1,838 • Mortgage on share*: £204 Rent on remaining share**: £156 • Total costs: £360

Three-bedroom house: Full value: £295,950 • Minimum equity: 80% Cost of equity: £236,760 • 5% deposit: £14,798 Mortgage on 80% equity*: £1298 • Total costs: £1298***

Interested? For more on Alver Village, phone 023 80 684463 or visit www.homefocus.co.uk/Alver-Village

Interested? For more on The Paddocks, phone 0118 933 8032 or visit www.homefocus.co.uk/The-Paddocks

* Approximate figures only, assuming a 25 year mortgage at 5%

** Assuming rent at 2.75% of the share you don’t own, per year *** Help to Buy property. Interest on equity loan starts after 6 years

LA ST 2 b FEW edr oom REMA apa ININ G rtm ent s

Brand new 2 bedroom apartments available in the heart of Southampton at Centenary Quay and Steeple View. Reservations already being taken... DON’T MISS OUT!

SOUTHAMPTON

Starting from

£59,500 for a 35% share plus a monthly rent and service charge

SOUTHAMPTON

homefocus • JAN/FEB 2016 19

South Properties

Maiken Thorne & Mitch Perkins Previous situation: Renting Scheme:

Help to Buy

Location:

Yate

Provider:

Barratt Homes

Help to Buy Agent: Helptobuysouth.co.uk

aiken Thorne (23) and Mitch Perkins (23) had always lived in Yate, South Gloucester, most recently renting a property in a pub owned by Maiken’s Dad and now, with two young children, they decided the time was right to buy a house that was still close to family and friends. Barratt Home’s Autumn Brook development fitted the bill, Maiken saying ‘Autumn Brook was absolutely perfect for

‘We were keen to find a convenient and attractive location…with impressive homes that we could afford’ us because it was right on the doorstep and we’d always wanted a new-build home. As a two child family, we were keen to find somewhere that was in a convenient and attractive location - and with impressive homes that we could still afford.’ The couple visited several properties and set their sights on a three-bedroom house, made affordable for them through the Help to Buy scheme. Maiken

continued, ‘With the opportunity to take advantage of Help to Buy, we felt that everything was in place to take ownership of our lovely new home right away. We would never have been able to afford it without this scheme. We picked out the three bedroom Barwick house-type as it provides plenty of space for our two children to grow into, with a lovely big living room too.’

Will this story inspire you to become a homeowner? Affordable properties in the south are listed on page 58. Or for other south properties (from the same provider) call 0844 5710 385 or visit www.homefocus.co.uk/Low-cost-homes-near-you.

20 homefocus • JAN/FEB 2016

East & South East Properties

East & South East

Starting to think that you can buy your own home? Could buying in the east & south east be more cost effective than renting? Then take a look at this selection of affordable home ownership homes. There are more listed on page 56 and helpful contacts on our east & south east homefinder, pages 60 & 61. Or visit www.homefocus. co.uk/Low-cost-homes-near-you.

GREENFIELDS

For the over 55’s, Leighton Buzzard, from £100,500 for 50% (subject to review) Shared ownership isn’t just for young first time buyers and Aldwyck is offering a new independent living development for over 55’s in Leighton Buzzard. Comprising 82 one and two-bedroom apartments, Greenfields facilities include a restaurant, café, hair and beauty salon, wellbeing suites, gardens, a treatment room and a community room. And at this stage, just 6 two-bedroom apartments remain available for shared ownership. Each apartment is fully accessible with lifts to higher floors and includes an open

plan living/dining area with contemporary fitted kitchen and access to a balcony or terrace. There is an underfloor heating system and floor coverings are included throughout. Outside is a communal parking area and landscaped and sensory garden areas. Greenfields is sited a mile to the southeast of Leighton Buzzard town centre at the crossroad junction of Billington

Road and Theedway. The location was specifically chosen for its proximity to the local town centre and nearby amenities such as doctor’s surgery, dentists, opticians, chemists and supermarket - all located within 1.5miles. Work to the development is still underway and is expected to be completed in mid 2016. Greenfields – phone 0300 500 6262

Two-bedroom apartment: Full value: £201,000 • Minimum share: 50% • Cost of share: £100,500 5% deposit: £5,025 • Mortgage on share*: £558 • Rent on remaining share**: £230 • Total costs: £788 Please note that as a 55+ development, when you buy 75% then no rent is payable

More about Greenfields? Go to www.homefocus.co.uk/Greenfields * Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

homefocus • JAN/FEB 2016 11 21

East & South East Properties

PARK LANE Hemel Hempstead, shares & prices tbc Hightown Homes is offering shared ownership on 15 family homes at their Park Lane development in the heart of Hemel Hempstead. There are a variety of two and three-bedroom houses available, some two storey, some three storey, some detached, some semi- detached and some in an elegant terrace. All the homes have private gardens and parking and all are finished to a high standard. High specification fittings include Rixonway Ancona high gloss cream cupboard fronts with ebony stripwood worktop and upstands in the kitchen; the integrated appliances include a dishwasher. Outside, each property has an allocated parking space. Park Lane is tucked away just behind the Marlowes Shopping Centre meaning that shopping at the Marlowes and the Riverside Shopping Centres is just a short walk away. Interested? For more on Park Lane, phone 01442 292381 or visit www.homefocus.co.uk/Park-Lane

HIGHWOOD GREEN Marden, from £50,000 for 25% Golding Homes is offering shared ownership on just two two-bedroom apartments at Highwood Green in Marden. Situated in a rural setting, Highwood Green combines the best of traditional Kentish village life with easy commuting and it’s just 55 minutes from Marden Rail station into London. The village provides local schools, a library, traditional stores and sport clubs

and the development itself incorporates communal gardens for resident’s use. Each apartment has a fitted kitchen including integral oven and hob, fridge freezer and space for a washing machine. Fitted carpets come as standard. Two-bedroom apartment: Full value: £200,000 Cost of share: £50,000 • 5% deposit: £2,500 Mortgage on share*: £278 Rent on remaining share**: £344 Total costs: £622

Interested? For more on Highwood Green, phone 0300 777 2600 or visit www.homefocus.co.uk/Highwood-Green

THE LANES Horsham, from £244,000 for 80% Countryside has Help to Buy available on a range of two, three and fourbedroom homes at The Lanes near Horsham. Built as part of Wickhurst Green, The Lanes is a new community development, which is an extension to the existing village of Broadbridge Heath. Once complete, Wickhurst Green will provide over 950 homes with gardens for each house. Residents and the wider community will also benefit from new communal facilities and new

public open spaces, creating a diversity of landscapes, habitats and wildlife for everyone to enjoy. The A24 provides road access into London and Worthing, Gatwick is 17 miles away and Heathrow just under an hour. From Horsham, frequent rail services operate in to London Victoria and London Bridge in under 55 minutes. Two-bedroom maisonette: Full value: £305,000 Minimum equity: 80% • Cost of equity: £244,000 5% deposit: £15,250 • Mortgage on 80% equity*: £1,688 Total costs: £1,688***

Interested? For more on The Lanes, phone 01403 242142 8044 or visit www.homefocus.co.uk/The-Lanes

* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year. *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

22 homefocus • JAN/FEB 2016

2 A N D 3 B E D RO O M H O U S E S F O R S A L E O N A S H A R E D OW N E R S H I P B A S I S

THE DUNES Image of a previous Affinity Sutton development

AT SA NDP IPER WALK - WITTERIN GS

Buy a 2 bedroom house for £715 per month* or a 3 bedroom house for £890 per month* Shared ownership (part buy/part rent) is an

innovative scheme to help people who can't afford to buy a property outright. Buy a share and pay us

a subsidised rent on the share you don't own. You can

buy further shares at a later date until you own 100%.

Stylish family homes in seaside village near to historic Chichester. Quality fitted kitchen with appliances. Direct train services from Chichester to London Victoria, Brighton and Southampton.

Email sales@affinitysutton.com or call 0300 100 0303 * The monthly costs are based on a 5% deposit, purchasing a 25% share of full market value of £230,000 (2BH) and £285,000 (3BH) with a 25 year repayment mortgage at 5% and includes rent. Service charges are extra (TBC). Affordability and eligibility criteria are applied. Affinity Sutton is not able to sell mortgages or give financial advice. A mortgage from a third party may be required and independent financial advice should be sought. Prices and rates correct at the time of going to press. Your home may be repossessed if you do not keep up with repayments on your mortgage or rent/service charges.

www.affinitysutton.com Follow us on Twitter

Join us on Facebook

East & South East Properties

Simon Brading & family Previous situation: Renting Scheme:

Shared ownership

Location:

Brighton

Provider:

Hyde New Homes

Help to Buy Agent: Helptobuyese.org.uk

imon Brading, his wife Anna and two children Ruby (3) and Zoe (1) out grew the home they were renting. Having previously lived in North Laine for 10 years, Simon was extremely keen on staying in Brighton. He says ‘Anna and I began to rent in the area seven years ago. We’re both songwriters, and I also work in a church at the centre of Brighton so I really feel at home here.’ With Brighton property prices so high, Simon realised the only way his family could afford to continue living in Brighton

‘There’s absolutely no way that we could’ve afforded it without the shared ownership scheme.’ was through shared ownership. ‘We wanted a three-bedroom home in the centre of Brighton but we couldn’t even afford to rent. After doing some research we realised that we could afford to buy a property under shared ownership. We’re currently living in a £437,000 property in the centre of Brighton and there’s absolutely no way that we could’ve afforded it without the shared ownership scheme.’ Simon and Anna paid £153,000 for 35% of their three-bedroom apartment at Hyde

New Homes’ Super B development and continues Simon, ‘We were just blown away when we saw it. We love the open plan design of the kitchen and the fact that we have a lounge to use as a family. It’s also great that Anna and I get an en-suite.’ He goes on to say: ‘The flat is very light – we saw it in the winter on a rainy day and were still very impressed with how well lit it was, so you can imagine how nice it is in the summer. There are no stairs either which means the kids can run around without endangering themselves.’

Will this story inspire you to become a homeowner? Affordable properties in the east and south east are listed on page 56. Or for other properties in the area (from the same provider) call 0845 606 1221 or visit www.homefocus.co.uk/Lowcost-homes-near-you.

24 homefocus • JAN/FEB 2016

South West Properties

South West

Starting to think that you can buy your own home? Could buying in the south west be more cost effective than renting or commuting? Then take a look at this selection of affordable home ownership homes. There are more listed on page 58 and helpful contacts on our south west homefinder, page 61. Or visit www.homefocus.co.uk/Low-cost-homes-near-you.

THE MOORINGS Plymouth, from £200,000 for 80% David Wilson Homes has launched a new selection of three-bedroom homes at its waterfront development, The Moorings in Plymouth. Two designs have been released, the Kirkwood and the Hadley both catering for modern day living, incorporating light and airy designs and energy efficient appliances.

The Kirkwood is a townhouse with a generous lounge with dining area. On the first floor is a double bedroom, single bedroom and the family bathroom while the top floor is reserved for the master bedroom with en-suite shower room. The Hadley has a lounge together with

a stylish kitchen and dining area. There is also a separate utility room. Upstairs the master bedroom has en-suite facilities and there is a further double bedroom, single bedroom and the family bathroom. The Moorings - phone 0844 5710 385

Three-bedroom town house: Full value: £250,000 • Minimum equity: 80% • Cost of equity: £200,000 5% deposit: £12,500 • Mortgage on 80% equity*: £1,096 • Total costs: £1,096***

More about The Moorings? Go to www.homefocus.co.uk/The-Moorings * Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

homefocus • JAN/FEB 2016 25

Alex and Nicola Hamilton Previous situation: Home owners on the same development Scheme:

Help to Buy

Location:

Weston-super-Mare

Provider:

St Modwen Homes

Help to Buy Agent: www.helptobuysw.org.uk

ack in the summer of 2012, Nicola had bought one of the apartments in the first phase of St Modwen’s development at Locking Parklands just ten minutes from Weston-super-Mare. Not only was it a lovely property but they made lots of really close friends over their time there. So when it came time to purchase their first home together, Alex said ‘we didn’t really consider anywhere

‘was able to move from an apartment to a house on the same development’ but Locking Parklands’. More and more people are citing community spirit as a major reason for choosing a home and location, and the recently married Alex and Nicola were able to stay in the community where they had put down roots and purchase a three-bedroom ‘Maple’ house at Locking Parklands, thanks to Help to Buy. Alex continues, ‘The high ceilings,

big open spaces and large windows in the houses all helped to really make the properties stand out to us, it just seemed so spacious compared to other new build homes. We purchased the house using the Help to Buy scheme which meant we only needed a deposit of 5%. I’d recommend the scheme to anyone looking to buy a new home as it really can help you get onto the property ladder.’

Will this story inspire you to become a homeowner? Affordable properties in the south west are listed on page 58. Or for other south west properties (from the same provider) call 0117 316 7780 or visit www.homefocus.co.uk/Low-costhomes-near-you.

26 homefocus • JAN/FEB 2016

South West Properties

LAVENDER GROVE

HELE PARK

Farmborough, from £247,960 for 80%

Newton Abbot, from £70,000 for 40%

Help to Buy is available on 15 threeand four-bedroom family homes offered by Lovell at their Lavender Grove development. The property styles include the three-bedroom Hazelwood, a family home with an open-plan dining room and kitchen with French doors to the garden. There’s also a large, separate living room, cloakroom, hall and useful storage space. The four-bedroom Chestnut house style features an attractive stone-finished frontage and incorporates a living room and kitchen (plus utility room), each with French doors to the garden. There is also a separate dining room with impressive bay window, a study, cloakroom, hall and storage space.

Spectrum has released a combination of two, three and four-bedroom family houses on a shared ownership basis at Hele Park, on the outskirts of Newton Abbot. Shown are some of the two-bedroom homes, built by Taylor Wimpey to a high specification and incorporate a range of kitchen units including worktops, floor units and eye level cupboards and a built-in cooker and hob. Vinyl flooring is included in the kitchen, bathroom and cloakroom with carpets elsewhere. Outside is a turfed garden and shed and an off road parking space.

Three-bedroom house: Full value: £309,950 • Minimum equity: 80% Cost of equity: £247,960 • 5% deposit: £15,498 Mortgage on 80% equity*: £1,359 • Total costs: £1,359***

Two-bedroom house: Full value: £175,000 • Minimum share: 40% Cost of share: £70,000 • 5% deposit: £3,500 • Mortgage on share*: £389 Rent on remaining share**: £241 • Total costs: £630

Interested? For more on Lavender Grove, phone 01761 441955 or visit www.homefocus.co.uk/Lavender-Grove

Interested? For more on Hele Park, phone 01202 023123 or visit www.homefocus.co.uk/Hele-Park

Don’t miss out...

Get the next 6 issues of homefocus delivered through your door Published every other month to keep you up to date with the latest opportunities in shared and affordable home ownership Just £12.95 for the next 6 issues n The latest affordable developments in your region n Who to ask and where to find an affordable home n Advice on legal and mortgage matters from specialists n Information about shared ownership, New Build HomeBuy, FirstBuy, and all low cost home ownership schemes PLUS MUCH, MUCH MORE; celebrity interviews, competitions and reader offers, jargon busters and homestyle articles To be sure of receiving the next 6 issues of homefocus, fill in the form and send your cheque* for £12.95 to: Graid Publications Ltd, 1 Kings Hall, 12b Kings Rd, Westcliff SS0 8LR

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homefocus • JAN/FEB 2016 27

Midlands

Starting to think that you can buy your own home? Could buying in the midlands be more cost effective than renting or commuting? Then take a look at this selection of affordable home ownership homes. There are more listed on page 57 & 58 and helpful contacts on our midlands homefinder, pages 64. Or visit www.homefocus.co.uk/Low-cost-homes-near-you.

THE GREEN

Towcester, from £189,560 for 80% Following a successful take up of their first phase, Lovell has released The Green’s next phase of three and four-bedroom homes, all with Help to Buy available. The ‘Ringwood’ style three-bedroom semi-detached house has a ground-floor layout featuring a spacious living/dining room with French doors leading on to the garden; a fitted kitchen with high-quality appliances including a Bosch hob and

electric oven; the hall, cloakroom and useful storage space. The first-floor accommodation features a master bedroom with fitted wardrobe and en-suite, two additional bedrooms and the family bathroom. Also shown is the ‘Springwood’ house style, another well designed three-bedroom semi-detached property, with garage. A

range of four-bedroom properties is also available. Situated in a leafy location, bordering farmland, The Green enjoys excellent transport connections with the A43 and A5 less than half a mile away. It’s just sevenand-a-half miles to Junction 15A of the M1. Northampton and Milton Keyes are 11 and 16 miles away, respectively, with both offering direct London rail links. The Green - phone 01327 272 793

One-bedroom apartment: Full value: £236,950 • Minimum equity: 80% • Cost of equity: £189,560 5% deposit: £118,47 • Mortgage on 80% equity*: £1,039 • Total costs: £1,039***

More about The Green? Go to www.homefocus.co.uk/The-Green * Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges

28 homefocus • JAN/FEB 2016

Midlands Properties

HOLLYGATE PARK Cotgrave, from £54,250 for 35% Built by Barratt and David Wilson Homes but offered under the shared ownership scheme by Metropolitan, is a range of two and three-bedroom houses in leafy Cotgrave. Each home offers high quality fixtures and fittings with Zanussi integrated kitchen appliances, French doors leading to garden, and carpeting or vinyl flooring throughout. Parking spaces are available. Hollygate Park is on the outskirts of Cotgrave, with excellent transport links to Nottingham, Loughborough and Derby. Two-bedroom house: Full value: £155,500 • Minimum share: 35% • Cost of share: £54,250 5% deposit: £2,713 • Mortgage on share*: £301 • Rent on remaining share**: £231 • Total costs: £532

Interested? For more on Hollygate Park, phone 020 3535 3555 or visit www.homefocus.co.uk/Hollygate-Park

HARVILLS GRANGE West Bromwich from £104,000 for 80% Lovell Homes has released a range of three-bedroom homes and just one two-bedroom house at the Harvills Grange development in West Bromwich. The latest homes launched are both functional and stylish, some offered with garage, some with allocated parking and all built with a high-quality finish. Harvills Grange offers easy access to West Bromwich, which is seeing a major town centre regeneration programme including amenities such as the New Square shopping and retail complex. The development is within a mile of the A41 Black Country New Road which gives direct access to the M5, Birmingham and beyond. West Bromwich Central tram stop, situated on the Midlands Metro Line, provides frequent services between Birmingham and Wolverhampton. Two-bedroom house: Full value: £130,000 • Minimum equity: 80% • Cost of equity: £104,000 5% deposit: £6,500 • Mortgage on 80% equity*: £570 • Total costs: £5,701***

Interested? For more on Harvills Grange, phone 0121 222 8044 or visit www.homefocus.co.uk/Harvills-Grange

LANTERN LANE East Leake, from £57,750 for 35% Just a five minute walk from the popular residential village of East Leake is an attractive new development on Lantern Lane, where Metropolitan is offering shared ownership on a range of two and three-bedroom houses. Each home comes with a fully fitted kitchen to include an integrated Baumatic electric oven, fridge freezer and dishwasher and a fully fitted and ceramic tiled bathroom. The lounge, bedrooms and hallways come ready carpeted and outside is a private garden and on-site parking. First options will be given to those with strong connections to Rushcliffe and the local area.

Get on or move up the property ladder with Help to Buy Midlands. 03458 50 20 50 opt 2 www.helptobuymidlands.co.uk

Two-bedroom house: Full value: £165,500 • Minimum share: 35% • Cost of share: £57,750 5% deposit: £2,888 • Mortgage on share*: £321 • Rent on remaining share**: £246 • Total costs: £567

Interested? For more on Lantern Lane, phone 020 3535 3555 or visit www.homefocus.co.uk/Lantern-Lane * Approximate figures only, assuming a 25 year mortgage at 5% ** Assuming rent at 2.75% of the share you don’t own, per year *** Help to Buy property. Interest on equity loan starts after 6 years

homefocus • JAN/FEB 2016 29

Midlands Properties

Matt & Clare Previous situation: Living with parents Scheme:

Shared ownership

Location:

Coventry

Provider:

Bromford Homes

Help to Buy Agent: Helptobuymidlands.co.uk

APPY DAYS. That’s how first-time buyer Matt McIntyre sums up life with partner Clare McLaughlin a few weeks after moving into their new home. Both partners had been living with parents until they heard about a shared ownership opportunity in Coventry. Matt, a 27 year old glazier and locksmith said, ‘We wanted to set up home together and buy our own home rather than rent.

‘Shared ownership makes owning your own home affordable’ Like a lot of people, I think paying rent is dead money. We couldn’t get a big enough mortgage to buy in the traditional way, even though we both work full time. Then someone suggested shared ownership… and we ended up buying just over 50% of a new home with Bromford Homes at Larks Rise, Coventry.’ How does it feel for Matt and Clare, a 31-year-old care assistant, to see their

home ownership dream come true? ‘Happy days! We love our new house and garden − and already feel at home here.’ says Matt. “We’re really pleased to get this first step on the property ladder − and hope to increase the share we own at a later date. Shared ownership makes owning your own home affordable. We would certainly recommend it to other first-time buyers.’

Will this story inspire you to become a homeowner? Affordable properties in the midlands are listed on pages 57 and 58. Or for other properties in the area (from the same provider) call 0845 6010 878 or visit www.homefocus.co.uk/Lowcost-homes-near-you.

30 homefocus • JAN/FEB 2016

NEW YEAR

NEW HOME

Through Shared Ownership, you could become the owner of a stunning, modern home built to the highest specification – at a price you can afford. 2 & 3 BEDROOM HOMES FROM £155,000 (£54,250 for 35% equity)

2 & 3 BEDROOM HOMES FROM £165,000 (£57,750 for 35% equity)

2 AND 3 BEDROOM HOMES FROM £137,500 (£54,250 for 35% equity)

Desirable, new two and threebedroom family homes in East Leake, Nottinghamshire, available to part-buy, part-rent through our Shared Ownership scheme. Coming soon!

Lantern Lane is located in the village of East Leake and offers homes with a contemporary design that blend into and complement the green surroundings effortlessly. Just launched!

High quality finish two and threebedroom family homes in Cotgrave, Nottinghamshire, available to part-buy, part-rent through our Shared Ownership scheme. Coming soon!

Available to; those who were born in Rushcliffe or live/lived in Rushcliffe; and those who need to work closer to the local community to provide important services.

MEETING HOUSE CLOSE, LE12

LANTERN LANE, LE12

HOLLYGATE PARK, NG12

01509 856934

01159 811888

jenny@hartleys-ea.co.uk

val.shakespeare@royston-lund.co.uk

heidi@hartleys-ea.co.uk

sarah.jones@royston-lund.co.uk

HOW SHARED OWNERSHIP CAN WORK FOR YOU Shared Ownership is a government backed scheme designed to help you to buy your first home more affordably. You buy a home on a part buy, part rent basis which means you buy a share in the value of your home of between 25% and 75% (depending on what you can afford), and pay Metropolitan a subsidised rent on the share owned by Metropolitan.

It’s affordable

Peace of mind

It’s chain-free

Energy efficient homes

You can just move in

Our support

Monthly costs are kept low through a ‘bitesize’ mortgage and subsidised rent and deposit costs are reduced too (by as much as 65% if you put down a 10% deposit on a 35% share rather than on the full market value). As you will be buying a brand new home, you will not be part of a property chain. This helps to make your buying experience more straightforward and stress free! Our new homes are fitted with carpets, floor coverings, appliances and quality fixtures and fittings in the kitchens and bathrooms. Just move in and relax!

mho.co.uk

@flythenest

You new home comes with a 12 year NHBC warranty so you don’t have to worry about unexpected repairs or faults. In addition we will provide you with a one year defects warranty from the date the property was built.

Because your new home will be built to the latest standards, you should save on your heating and utility bills.

We are with you every step of the way! We will support you through the process of buying your first home. Our Customer Service Centre is there to offer you ongoing support and advice if you need it.

SOME OF THE THINGS THEY SAY. Have you ever stopped yourself from doing something Here’s some things they say about shared ownership... ownership homes are Lenders make it hard to ✘ ✘ Shared just tiny starter flats. get a shared ownership mortgage. ✔ ✔ Some of them may be starter homes, but they’re not tiny… In fact, they have to meet higher standards of space, storage and eco-efficiency than typical new builds, so you’re actually getting more home for your money.

✘ It must be cheaper to rent! ✔

Well, buying a home does cost... but then so does renting. If you look at the comparisons on page 11, you’ll see that buying through shared ownership often works out less per month than renting privately.

an income ceiling so ✘ There’s you can’t earn too much. ✔

Shared ownership is designed for first time buyers, specifically those that can’t stretch to buying the home they need without a little leg up on the ladder. So you’ll need to earn enough to cover a mortgage and other household outgoings, but earn less than £60,000 per year. You can earn more in London and still be eligible, reflecting London’s higher prices.

✘ You need huge savings. ✔

You will need to have enough to cover removal costs, setting up home costs and of course, a deposit. That’s the case when buying any home. But with shared ownership, the deposit you need is only 5% of the price of the share you’ll be buying – not the full price of the home.

32 homefocus • JAN/FEB 2016

It’s no harder to get a mortgage for a shared ownership property than it is for any other. The Mortgage Market Review in 2012 laid down guidelines covering anybody getting any sort of mortgage, to try and make sure that they can comfortably make their repayments.

rent and a ✘ Paying mortgage – it must be more expensive? ✔ Not really, that’s why we refer to it as Affordable Home Ownership! If you buy through shared ownership you’ll have a mortgage on the share you buy, and pay a subsidised rent on the share you don’t, so it generally works out less per month than renting privately, and definitely less than buying the full 100% of your home.

ownership! Doesn’t ✘ Shared that mean sharing with someone else? ✔

No, not unless you want to! Plenty of people do buy their shared ownership home with a friend and there’s no reason why you can’t bring in a lodger to live there with you. But it’s the ownership you share with the housing association, not the living space.

SharedOwnership

BUT ARE THEY CORRECT? really good just because of what other people say? and our replies. loads of repetitive ✘ There’s form filling. ✔

Well perhaps, but the result is being able to find a home of your own. Outside of London, you will have to register with a Help to Buy Agent and what this means is that you don’t have to track down and register with every housing association in your area. You just fill in ONE set of initial registration forms, undergo ONE basic affordability and eligibility check, not the same thing over and over again. In London, things are a bit different, less centralised. But it’s perfectly usual to register with Rightmove and Zoopla and every estate agent they redirect you to. So if you’re in the market to buy, you’ll be used to form filling

told how much you ✘ You’re can afford and what share to buy! ✔

Yes, but it is so you don’t over-stretch yourself financially and try to borrow more than you can pay back.

have to live or work in ✘ You the same borough as the property you want. ✔

New-build shared ownership properties are often made available first to local people. But after quite a short period of time, it is

opened up to others. Anyone may apply for an existing or resale shared ownership property.

✘ You can’t keep a pet. ✔

That’s the case for most apartments, shared ownership or not! But if the property is a house or a ground floor property with a garden/patio it’s worth checking with the housing association.

✘ It’s too complicated. ✔

Buying any property is complicated. That’s why there’s a whole industry of conveyancing solicitors and independent mortgage advisors (IFAs). Fortunately, some specialise in shared ownership transactions and you’ll find some listed on pages 66 & 67.

is ok, but isn’t it ✘ Buying hard to sell a share? ✔

Shared ownership reflects the market. When the market is good, it’s good for all properties - when it’s bad, then it will be bad for shared ownership too. The one difference is that your housing association will have first opportunity to find you a buyer. When the market is good, they’ll have a ready-made list of those people wanting to apply and in difficult times, they are still honour-bound to try to find you a buyer in a few (usually 8) weeks.

homefocus • JAN/FEB 2016 33

CherishYour H Each year paint experts Dulux release a colour of the year, and for 2016 it is none other than Cherished Gold. A spicy warm yellow, it is bright enough to attract attention whilst still keeping some earthy tones. If you like the colour but don’t want to go as far as painting the walls, then you may like to incorporate it in your interior décor via accessories. Here’s a few we found to get you started.

Dulux Cherished Gold Matt, combined with Soft Almond 2, and Soft Cinnebar 5, 2.5 litres £24.49 www.dulux.co.uk

34 homefocus • JAN/FEB 2016

HomeStyle

Home 1 2

6 7

1 Dartington Crystal Gems lantern vase £30 www.amara.com 2 Mischievous Magpie handmade lampshade £50 www.marthaandhepsie.com 3 Honeycomb mug £2 www.wilko.com

4 ComingB T desk lamp £59 www.amara.com 5 Colour In Motion rug from £129 www.modern-rugs.co.uk

6 Textured weave throw £48.50 www.clareloves.co.uk 7 Fern dining chair £38 www.danetti.com

8 Wooden square wall hook £16 www.furnish.co.uk 9 Desert tufted arrow cushion £15 www.george.com 10 Retro telephone £48.95 www.rigbyandmac.com

homefocus • JAN/FEB 2016 35

PERFECT

PASTELS Can’t wait for Spring to enjoy some colour in your home? Then give this season’s winter pastel trend a try. Whether you favour pale pink, lilac, sky blue, mint green, or yellow, these fresh tones are guaranteed to inject some much needed colour during the drearier months.

Kentucky dining chairs £39.99 each, and extending table £229.99 www.homebase.co.uk

36 homefocus • JAN/FEB 2016

HomeStyle

Add a pop of pastel colour with soft furnishings. Serenity Fabric available in Sky, Pink, Poppy, Mint and Grey £39 per square metre www.barkerandbarker.co.uk

Create a feature wall, try Dulux Marble Swirl 6 matt emulsion £24.99 per 2.5l www.dulux.co.uk

Painted furniture and accessories are an easy way to add pastel tones to any room, these are all from www.homesense.co.uk

TOP TIPS “This year’s distinctive pastels contain just enough colour and a hint of grey to give them a sophisticated edge without making them look cold. For seamless tranquillity, choose your favourite shade and paint it on all the walls, skirting boards, doors and ceiling then add stronger graphite greys and pure white in the furniture and accessories to banish any sweetness, plus add a twist that no one expects but everyone will love. When you are using any pale colour, especially pastels, you must consider the light in which it is seen. If you have a north-facing room or one with little natural light which you use predominantly in the day, choose warmer pastel shades with hints of pink, gold or yellow. If you have a south-facing room – or a room that you use predominantly at night, choose the cooler, deeper pastel shades which have hints of blue, green or violet. You can bring all rooms painted in pastel shades to life with layered lighting such as table and floor lamps too.” Marianne Shillingford, Dulux Creative Director

Mint green makes a great bedroom colour scheme. Deauville wallpaper collection: £29.95 10m x 53cm roll www.galeriehome.co.uk

Pastels don’t have to be twee. By adding a darker shade of the same colour in a room you can keep the look current. Large Chiltern sofa £1349 www.dfs.co.uk

Accessories are an easy way to add a splash of vibrancy. Lilac square clock £12.99 www.homesense.co.uk, Geo pastel wall frame £85 www.oliverbonas.com

homefocus • JAN/FEB 2016 37

Is Your Bedroom Feeling Tired? We spend on average one third of our lifetime in our bedrooms, so when moving to your new home think about making yours as comfortable and relaxing as possible. You donâ&#x20AC;&#x2122;t have to spend a fortune, but just by simply applying a coat of paint and adding a new accessory or piece of furniture you can transform the space into somewhere dreams are made of.

38 homefocus â&#x20AC;˘ JAN/FEB 2016

HomeStyle

Then It’s Time For A Mini Makeover... BEST BUY

GREAT VALUE

INVESTMENT BUY

Leamington pewter bedstead £250 www.next.co.uk

Cuba four poster oak bed £475 www.next.co.uk

Duet dove grey bed £699 www.made.com

Oriana nickel lamp £25 www.next.co.uk

Beaten metal lamp £60 www.next.co.uk

Rings lamp £99 www.furniturevillage.co.uk

Hardwick one drawer bedside table £89 www.tesco.com

Isabelle French style bedside cabinet £129 www.swooneditions.com

Ned bedside cabinet £145 www.oliverbonas.com

Living mosaic rectangular mirror £19.99 www.homebase.co.uk

Butterfly dressing table mirror £50 www.debenhams.com

Round mirror with geometric border £120 www.bhs.co.uk

homefocus • JAN/FEB 2016 39

IT DOESN’T HAVE TO BE

NEW-BUILD

If you thought that the only properties available for shared ownership were brand new ones…think again!

Just because you don’t see ‘for sale’ boards outside older shared ownership properties, doesn’t mean that there aren’t any for sale. It’s just that sometimes you have to do a little digging to find them. Shared ownership is designed for those starting off on the home ownership ladder, so when shared owners outgrow their first home or need to move for work, there’s a whole range of non-new homes available for the next set of first time buyers. The shared ownership industry often refers to these properties as resales, and they add to the range of ‘affordable properties’ on the market. One difference between pre-owned (resale) and newbuild shared ownership is in the share you’ll be asked to buy. If the existing owner owns 40%, then initially, that’s what you’ll be offered. If you want to buy more, it’ll be arranged but it’s very unlikely that you’ll be allowed to buy less. But in other ways, resales offer more flexibility than new-build.

HOW TO FIND RESALES? Your Local Help to Buy Agent will have details of many of the resales properties available in their area (there’s a list of all of the Help to Buy Agents and their website addresses on page 54). Or you can check out individual housing associations (many of them advertise on pages 60-65) for information on any resales they have. In fact, if you’re looking to move onto a particular development, it’s definitely worth contacting the relevant housing association to let them know you’d be interested in a resale if one comes up.

MORE CHOICE Resales are the sort of hidden gem of shared ownership. They may not be publicised as heavily as new-build, but they could come up in just the area you want to be in – and at an affordable outlay each month. You just have to do the research.

40 homefocus • JAN/FEB 2016

Resales

PRE-OWNED MEANT THEY COULD WIDEN THEIR SEARCH OF AREAS THEY WANTED TO LIVE IN When Claudia Vernon and Katie Boulton decided that shared ownership was the way to get onto the home ownership ladder, it was a pre-owned, two-bedroom apartment at East Thames’ Fondant Court in Bow that provided the right home in the right place. Claudia comments, ‘We had been living in shared rented accommodation in south London for a while and were getting

fed up of living in one room and not having our own space. We decided to look into the possibility of buying and drew up a list of pros and cons of what we were both looking for in a home. We decided that shared ownership gave us the option to buy and we saved up enough for a deposit.’ The pair found that pre-owned properties gave them greater freedom to look at different areas of London as they didn’t have to stick to the criteria of living or working in the same borough as the property they wanted, as can be the case with new-build. Claudia continued, ‘We decided on two areas we wanted to live in, south east London which we knew well and east London because it is up and coming, lots of new properties are being built and it has lots to offer including excellent transport links. We heard that East Thames were selling some apartments in Bow and really liked this area, as well as providing us with an easy commute to work in Waterloo and Canary Wharf, so decided to take a look. “There were a number of different apartments available at Fondant Court and we viewed five before deciding on our favourite, which has enormous windows with views across London and Canary Wharf, which is stunning at night. ‘We are so pleased with our new apartment and not having to share rented accommodation anymore. It is in an excellent location and has a concierge downstairs who is available to help us. The development is also gated which makes us feel very safe.”

For resale properties (from the same provider), phone 0300 303 7333 or go to www.homefocus.co.uk/lowcost-homes-near-you

homefocus • JAN/FEB 2016 41

BUYING AN EXTRA

SLICE OF YOUR HOME MEANS

PAYING OUT LESS RENT AND KEEPING MORE OF THE EQUITY. For many people, shared ownership is simply the first step. It’s the ladder to a bigger home or a different location. But if staying right where you are in your first shared ownership home is the right thing for you to do, then shared ownership will carry on working just as long as you want it to. Why move away from friends, family, your local network, the places you know and the home you’ve made your own? And just like owning any other home, with shared ownership there’s no obligation to move on and no obligation to buy a larger slice of the property.

CHANGING CIRCUMSTANCES But what if you do want to buy a larger slice? Suppose you start earning more and can afford to buy a bigger share and would prefer to pay less out each month in rent to the housing association. Well, you can do that, in a process called ‘staircasing’. Your housing association can best advise you on this, as can a shared ownership experienced solicitor (there’s some listed on pages 66 & 67) or a shared

42 homefocus • JAN/FEB 2016

ownership mortgage advisor, but the idea is that as your financial situation changes, you’ll be able to take new financial decisions that will work in your favour. The two greatest advantages of staircasing are that you’ll pay less in rent to the housing association, and that more of the equity in the home becomes yours; so if and when you do sell, you’ll keep more of the sales price. Generally speaking housing associations will ask you ‘staircase’ in reasonable chunks – like 10 or 20% and in most cases you’ll be able to ‘staircase’ until your own the whole 100%, when you won’t pay any more rent at all. But do check all the details – that’s where your solicitor and mortgage advisor will be helpful. You will be asked to pay for your extra share at the current market price – and this, of course, could be higher than when you first bought.

GET IN TOUCH Advice on staircasing is available from all of the housing associations and specialist shared ownership solicitors appearing on pages 60-67.

Staircasing

‘I AM NO LONGER PAYING RENT ON THE REMAINING 50% SHARE, EVERY PENNY IS GOING TOWARDS THE MORTGAGE’ When Account Manager Bunmi Odubanjo, 28, split from her long-term boyfriend and moved in with her mother, she knew that it was the right time to start saving money for a deposit to buy a house through shared ownership. She found exactly what she was looking for in Aylesbury, at Thames Valley Housing’s development, The Serpentine. Bunmi says ‘I found out that I could get onto the property market with just a 5% deposit, which I had been able to save through living with my mum. I felt that shared ownership was the best option, especially with the opportunity for staircasing. Bunmi bought a 50% share in a two-bedroom apartment at The Serpentine: the full value of the property was £145,000 and Bunmi’s deposit, just £3,625. Just over two years later, she had saved up enough money to put down another £12,000 in order to secure a mortgage for the remaining 50%. But, she explains, ‘I

had to start really saving. I had to cut back on socialising. I’m very determined and organised and as soon as I had moved in, I had made up my mind that I would increase the share of my home to 100% within three years. I was very focused.’ Asked if she had some tips for other shared owners looking to staircase Bunmi advised, ‘Save double what you originally think. That way if you can pay more, then do it! It will be worth it to own your own property. Be prepared for lengthy processes with valuations, mortgage advisors and lawyers. Finally, make sure you read through and understand all of the financial paperwork.’ Has the process been worth it? ‘Absolutely!’ says Bunmi, ‘I am no longer paying rent on the remaining 50% share, every penny is going towards the mortgage. It’s funny to look back three years to when I started the process and to realise that I’ve actually done it.’

homefocus • JAN/FEB 2016 43

LOOKING GOOD TO THE

LENDERS Location, location, location: buy in an up and coming area: think about schools and transport – all good advice – but none of it matters unless you can organise a mortgage and a deposit for your first home! Shared ownership and Help to Buy make it easier, because the deposit you’ll need and the monthly repayments you’ll make, will be less than if you were buying in the traditional way. But you still need to show the lenders that you’re a good candidate for a mortgage. And what makes the lenders decide...is your credit rating.

Your credit rating A below average credit rating will affect the mortgage terms you’re offered or perhaps even lead to your mortgage application being turned down altogether. There’s no way round it. When you apply for a mortgage, the lender will carry out a credit check which gives them a breakdown of all your previous financial transactions. How much you borrowed? Were you a good payer? Did

44 homefocus • JAN/FEB 2016

you pay on time? This check leads to ‘credit score’which helps the lender make a decision on your application; the higher your score, the better chance you have of obtaining a mortgage and being offered a good interest rate.

Easy steps to maximise your credit score • Obtain a copy of your credit report (the 3 major agencies are Experian, Equifax and Callcredit) and check the content. The reports can occasionally contain mistakes. • Check with your council to see that you are on the electoral roll. Not being on the electoral roll reduces your chances of being accepted. • Try to pay off existing debts before you apply, or at the very least reduce them by as much as possible. • Don’t miss or make late repayments on any loan, credit

GettingaMortgage

card or utility bill. Missed or late payments can stay on your credit file for up to 6 years and can play havoc with your chances of obtaining a mortgage. • Keep within your bank overdraft limit and preferably keep in credit for at least 6 months prior to applying for a mortgage. Lenders will ask to see between 3 and 6 months of your most recent bank statements and if you have overstepped your authorised limit this is likely to lead to an automatic decline. • If you’ve never had credit before, it can be difficult for a lender to assess you. Consider taking out a credit card, make a couple of purchases on it each month and

Building a deposit for 1st Time Buyers The second part of organising a mortgage is putting a deposit together and that means having savings. Obviously, there are all kinds of ways to save but something new and specifically designed by the Government to help first time buyers build their deposit is The Help to Buy Cash ISA – it’s a sort of first time buyers’ bonus with the Government adding £50 to every £200 you save.

How does it work? • The scheme is only available to first time buyers, resident in the UK. • You can invest up to £200 per month each month plus an extra one-off lump sum of £1,000 when the account is opened. • The scheme runs through until December 2019 so you could invest as much as £12,000 over this period and qualify for the maximum bonus of £3,000. • You need to save at least £1,600 this way in order to receive the minimum bonus of £400. • The allowance is per person, so if two of you are buying, then you should both take out a Help to Buy ISA and you’ll both receive a bonus. • The property you are buying can cost no more than £250,000 if it’s outside of London or £450,000 in London, be for your own use and not for letting out. • The bonus will be added only when buy your first

repaying them in full within the prescribed time limit. This will help to build a good credit history. • Having too much credit available can work against you. Close any accounts you don’t need or use anymore. • Lenders want to see a settled financial history so don’t take out any loans or new credit cards shortly before applying for a mortgage. • It’s not always easy, but avoid a job change immediately prior to submitting a mortgage application. Before agreeing to a loan most mortgage providers like a borrower to have held a job for a few months to show that a steady income is being received.

home, so you can’t have a change of heart and use the Government bonus for anything else! When the time comes, your solicitor will apply for the bonus, which will be added to the money you’re putting towards your first home.

Where do I open an account? • Halifax, National Westminster, Barclays, Santander, Virgin, Aldermore and Nationwide have already launched their Help to Buy ISAs and most other banks are expected to follow soon. • Interest rates may vary from bank to bank so check them out on a comparison website.

What else do I need to know? • You can have money in a cash ISA and a Help to Buy ISA, but if you have paid money into the cash ISA since April 2015 you will have to transfer your active cash over to the Help to Buy ISA. • You can transfer up to £1,200 from your active ISA into a new Help to Buy ISA. But then, anything else you have paid in since April 2015 should be moved into a different sort of savings account. • Portfolio ISA’s do allow you to hold multiple ISA products within a cash ISA wrapper, but if you are a sophisticated saver you should take advice from your financial advisor.

Sophisticated saver or not, it would be sensible to speak to a financial advisor or visit www.helptobuy.gov.uk. homefocus • JAN/FEB 2016 45

MOVING

CHECKLIST PRACTICAL PLANNING FOR MOVING DAY Finally, after all the searching and dealing with mortgage advisors and solicitors, you’ve exchanged contracts and have been given a date to move in! And then you get to thinking… ‘Who do I need to tell? What do I need to find out? What about moving all my stuff?’ Supposedly, moving home is one of the most stressful things you can do. But the actual process doesn’t have to leave you sitting up in bed at night, eyeballs out, panicking because you haven’t told the library your new address! So take a deep breath, make yourself a cup of tea and have a quick browse through our moving checklist. We’ve come up with all the people you generally need to inform about your move – if you have extra people we haven’t thought of, we hope you remember to tell them! Consider yourself reminded by homefocus…

Pack it in! It’s a fact of life that you ALWAYS have more ‘stuff’ than you ever believed possible! Now is

46 homefocus • JAN/FEB 2016

a good time to weed out things you don’t want any more – if you think you might be able to sell them put them all in a separate box marked ‘Sell’ so you don’t unpack it and put it all away again when you get to your new place! It goes without saying that you should use strong boxes – and don’t make them too heavy to lift! Use smaller boxes for books, photo albums and other heavy items or they might as well be bolted to the floor – and mark on top that they’re heavy to stop you doing yourself an injury when you try to pick them up. Label each box clearly with the contents and which room it’s to go in. Surprises are lovely, but unpacking nineteen boxes the day you move in just to find the TV remote is beyond the pale…

The Move First of all, have a look at how much you have in the way of possessions. If you’re in furnished rented accommodation, or live with family and aren’t taking much in the way of furniture it can be cheaper to move everything yourself. Just

enlist anyone you can find to help, particularly if they’ve got transport. A friend with a van is a very good friend indeed when you’re moving. If you don’t have this luxury, then renting a van is likely to work out cheaper than a removal firm. If you’ve got lots of furniture to move, then professional movers are essential. Look for ones that are members of the British Association of Removers (BAR) which has a code of practice that protects you and your possessions. Get at least three quotes and make sure your contents insurance covers moving – get it set up for your new place to cover it if need be. If you’ve got children or pets it can be less stressful to have them looked after by someone else on the day. Keep all the essentials (we’ve called it your ‘First Night Kit’) in one box and make sure you know where it is! If you make sure your bed is one of the first things you put together when you get to your new home you can just collapse on it, exhausted, at the end of the day – and leave all the unpacking until the next morning!

OnTheMove

When you’re due to move there always seems like an endless list of things to do, people to inform, boxes to pack and things to organise, so here’s a helpful guide to make sure you don’t forget anything…

4 WEEKS BEFORE… n Complete a change of address form at the Post Office to re-route mail (www.royalmail.com) n Inform magazine subscriptions and clubs of

your new address and moving date

n Decide which items you’re keeping and which

you can chuck or donate to charity

2 WEEKS BEFORE… n Discontinue regular services such as

newspapers, window cleaners etc

n Arrange to have your satellite dish moved to

your new property if necessary

n Arrange to discontinue your phone service

and broadband and have it installed at your new address

n Arrange to transfer your TV licence to your new address (www.tvlicensing.co.uk/moving) n Complete the relevant section on your car

registration document and licence and send them to the DVLA (more info at www.dvla.gov.uk)

n Call your vehicle insurance to keep cover

valid. The price may change due to the new area, new parking arrangements and type of home you’re moving into

n Notify water, gas and electricity suppliers to

have your services turned off at your present address

n Arrange for utility connections at your new

1 WEEK BEFORE… n Arrange to transfer bank and savings

home

accounts

n Contact your new local authority about

n Tell credit and store card companies your

schools and colleges in the area

n Notify schools, churches etc of your

impending move

n Notify your own and research alternative

doctors, dentists in your area and liaise with your hospital if you’re undergoing any regular treatment

n Finish up your frozen food supply or give it

away

n PACK! n Find and label keys n Send out change of address cards, text

n Check parking arrangements at your new

n Get to know your new area and work out the

home and apply for permits if necessary

best routes to work and school. Check out www.upmystreet.com to find out more

new areas regarding council tax and electoral registration

n Defrost and thoroughly clean the fridge and

n Request packing materials from your

removals company, or buy some if you’re doing it yourself

n Return things you’ve borrowed from friends n Start to run down the contents of your freezer n Arrange to transfer home insurance, or set

up new policies to begin the day you move in. Arrange transit insurance if necessary

n Research car boot sales to get rid of stuff

you’re not taking with you

Friends and family Post Office Inland Revenue Schools and colleges Local councils House insurance company Electricity and gas suppliers Water and sewerage companies Telephone company Internet supplier Satellite/cable TV provider TV Licensing Banks and building societies Credit card/store cards Doctor Dentist Car insurance company DVLA Car breakdown company Library Milkman Newsagent/magazine subscriptions Sports and social clubs Church/place of worship Children’s clubs

messages and Facebook or MySpace alerts

1 DAY BEFORE…

friends, van rental etc

3 WEEKS BEFORE…

n n n n n n n n n n n n n n n n n n n n n n n n n

n Notify relevant authorities in your old and

n Book removals company or arrange help from

new address

People to tell

freezer

n Take down pictures, mirrors, non-essential

curtains and blinds

n Disconnect your cooker, washing machine

and dishwasher

n Confirm minders for children and pets

ON MOVING DAY… n Make sure you personally take cash and

jewellery with you

n Lock all windows and doors when you leave

If you’d like a copy of our moving checklist to help you tick off the organisations you’ll need to tell you’re moving, go to www.homefocus.co.uk/Moving_Checklst and download your own electronic version to use.

First night kit n n n n n n n n n n n n n n n n n

Kettle Mugs, cutlery, plates, glasses Coffee, tea, milk, sugar, water Washing-up bowl and liquid Rubber gloves Map Vacuum cleaner/dustpan and brush Tea towels and cloths Toilet roll Bin liners Towels/soap/shampoo Lightbulbs Candles and matches Fuses Screwdriver Local takeaway menus! Bottle of champagne

homefocus • JAN/FEB 2016 47

FINDING YOUR PLACE ON THE

LADDER

Lots of people think that affordable home ownership can’t be for them…surely it’s only for council tenants? Or keyworkers? Well, you’d be surprised at the different sorts of people who climb onto the home ownership ladder thanks to shared ownership and Help to Buy.

The Maambira Family Relocated to buy a family home Nyaradzo Maambira and her husband Williard along with their two children relocated from their rented property in London to Milton Keynes; ‘The journey now takes in total around 45 minutes, which includes travelling to the train station from our house. It’s actually quicker to get to central London from our new house than it was when we lived in London!’ Thanks to Help to Buy, the family have been living happily in their new four-bedroom home in Taylor Wimpey’s Oakwood development since June of last year. Nyaradzo says: ‘The house is such great value and it’s really big! It’s perfect for our family as there’s a lot of space and all of the bedrooms are big enough to fit a double bed, plus we have a really large garden too, which is great for the children. “My view is that the development will meet the needs of all types of buyers; from families looking to upgrade to larger homes with gardens, to first-time buyers.’ And Help to Buy will be available for all these groups.

48 homefocus • JAN/FEB 2016

BuyerProfile

Connor and Jordan Paying the same as they did when renting! 19 year old Connor and his 20 year old partner Jordan had been renting a small one-bedroom apartment in the centre of Rochester. They now pay out the same amount each month but own 60% of a two-bedroom apartment at Heart of Medway’s Theatre Quarter development in Chatham through shared ownership; an apartment they say is three times as big as their previous home. The couple explored different buying options including Help to Buy, but they soon realised they were unable to move forward as they could not afford the deposit needed. But they decided to register with a Help to Buy Agent anyway and were approved for shared ownership. With a much lower deposit required and the help of a specialist mortgage advisor, Connor and Jordan bought their apartment off-plan from Red Loft, the sales agent for the Heart of Medway. ‘Owning your own home gives you such a boost in confidence. Not many people our age can say this and it has given us a real feeling of security.’

John Burgess Thought local property prices were out of his reach When John Burgess, a plumbing and maintenance engineer installed the plumbing in a new development of smart homes in Puckeridge, Herts, he never thought he’d

soon be moving into one of the properties. John, 26, was then living on his own in rented accommodation in Cheshunt – an area where property prices were out of his reach and he wasn’t able to secure a mortgage to buy a home in the traditional way. But when he discovered that Hightown Housing was offering shared ownership on the nearby properties he’d help build, he took his chance and bought a 50% share in a new two-bedroom apartment. John said: “My rent was only semi-affordable, but I would have needed a substantial mortgage to buy a property around here and that just wasn’t realistic. I thought a new-build property was way out of my price range. Shared ownership has given me the chance to invest in a home, and the apartment is perfect for me, including being handy for work. It was also more expensive for me when I rented, so I’m now even able to budget and save.’

Louisa Steer Didn’t need to save up for a huge deposit Moving to a spacious new two-bedroom home in Barratt’s Witterings development, just a stone’s throw away from a sandy beach close to Chichester, has been an ideal move for Louisa Steer. ‘I chose it because it’s close to where I grew up,’ said Louisa. ‘When I decided I wanted to buy here, I knew it was a popular development, so I went to talk to the Barratt sales team and they kept me updated on everything - even sending me pictures of my new Tiverton design home’s progress as it was being built.’ The Tiverton is a two-bedroom home, featuring an openplan lounge and dining room with French doors leading out to the rear garden. There’s a stylish kitchen, with quality units and appliances in a range of finishes. ‘I knew it was within my price range’, added Louisa. ‘But I took advantage of the Help to Buy scheme available here, so that I didn’t need to save up for a huge deposit’.

Do you want to become a homeowner? More affordable properties are listed on pages 56-58 or contact one of the organisations advertising on pages 60-65.

homefocus • JAN/FEB 2016 49

ASK THE EXPERTS

We’ve had a number of questions asking not about buying a shared ownership home, but what happens when you come to sell your share. Luke Ragan from North London asks

‘What fees will I have to pay when I sell? And how does that compare to what I’d pay an estate agent’?

Kate Seats from Chelmsford asks if she

‘Can I sell to anyone I want? Or do I have to sell to someone living in the same area as me’?

Can we help? Got a question but don’t know anyone in

the know? Send it to us at info@homefocus.

co.uk and we’ll put it to our panel of experts. Or we may find someone who has personal experience to answer your query. It could be a

legal question or a financial issue or a general query about low cost home ownership. We’ll do

our best to find you some great advice.

50 homefocus • JAN/FEB 2016

AN OVERVIEW ON SELLING YOUR SHARE

Sharon Shaw

Intermediate Housing Specialist, Martin Shaw Consulting

elling your shared ownership home is a pretty straightforward process. Once you have let your

housing association know that you want to sell your share, they will help you through the process. It is similar to a fully owned property being sold through an estate agent, although there are some restrictions. The main one being that the housing association has a set time, called a nomination period in which to find a buyer for you. It’s often 8 weeks, but can vary; the actual time for the nomination period for your property can be found in your lease. Your housing association will assist you in having your property professionally valued. They will produce sales literature and market your property to people interested in and eligible to buy shared ownership as well as publicising it through Help to Buy Agents who hold lists of potential buyers. There is a fee to pay for this service but it is usually less than an estate agent might charge, plus you will need a solicitor to act for you in the sale. Viewings will be arranged either directly with yourself or through your housing association and once a suitable buyer is found, your solicitor will liaise with your buyer’s solicitor through each paperwork stage to completion. If a buyer isn’t found within the given timescale, you can choose to sell your share through an estate agent.

ExpertAdvice

WHO YOU CAN SELL TO

THE COSTS INVOLVED

Lauren Fitzgerald

Rino Sapia

Sales Executive, East Thames Group

our housing association will charge an administration fee for the marketing and

progression of the sale in just the same way as an

Sales Manager, Grand Union Housing Group

hen you bought your share you had to register and be accepted for shared

ownership, having first demonstrated that you were

estate agent would do. The fee is outlined in your

a first time buyer within certain income brackets

lease but is usually 1% of the full market value of the

and other eligibility criteria. So now, your housing

property plus VAT and will only be payable when the

association will want to make sure that the person

housing association is successful.

you sell to is also qualified for shared ownership. And that’s why the housing association’s first action is

The association will have access to a database of

to go to the regional database of registered potential

suitable shared ownership candidates, but if they

shared owners (The Help to Buy Agent) or to their

cannot sell your property within the nomination

own qualified lists, to find the best potential buyer.

period, then you will be able to sell through an estate agent. If this is the case then you’ll have to pay the

It’s also why you’ll be asked to arrange a

estate agent’s fees - your housing association will not

professional valuation on the property. That way

cover this cost.

you, the new owner and the housing association all know the true value of the share in current

One fee that is specific to a shared ownership sale is

market conditions. It ensures that the price is fair to

for a profession valuation of your property. Typically

everybody.

it’s between £180-£300 plus VAT, but it’s worth it to know what the real value of your home is, rather than

As a general rule, you’ll be allowed to sell to anyone

having someone guess and hoping that figure is

that has been approved for shared ownership and

achieved.

therefore appears on the housing assocation’s or Help to Buy Agent’s lists. But sometimes however,

As with selling any property, you’ll need to find a

certain leases have rural or geographic restrictions

solicitor. A shared ownership experienced one (such

and limit potential purchasers to those living with a

as those on pages 66 &67) will probably charge

certain area or borough or in the case of retirement

£500-£700 plus VAT. And your solicitor will need to

homes, to those of a certain age. If there are any

obtain a pre-sale solicitor enquires pack from your

such restrictions they will be stated in your lease and

Landlord, typically £150-£250 plus VAT. Finally, there

you were almost certainly aware of them when you

will be moving costs.

bought your share.

homefocus • JAN/FEB 2016 51

N I W

WIN BRAND NEW DRAPER REDLINE TOOLS TO HELP YOU MOVE...

52 homefocus • JAN/FEB 2016

homefocusCompetition

Moving home is both exciting and daunting, where do you begin once you’ve got the keys? Prioritise the most urgent tasks, get some advice from a trusted source and remember, a good job always starts with the right tools. Draper Tools has introduced Redline, a brand new range of quality, affordable tools designed to tackle a wide variety of home-improvement tasks. homefocus readers have the chance to win a comprehensive collection of Draper Redline tools, specially selected to help with moving home. Highlights of this handy prize pack include: 68967 Redline 46 Piece Tool Kit: This kit is packed with all the homeimprovement essentials you could want, including a hammer, measuring tape, adjustable wrench, hexagon keys and more. It comes with a smart storage bag to keep tools safe and secure. 80931 Redline 14 Piece Metric Combination Spanner Set: A fantastic spanner set that will see years of use in and around the home. Each spanner is highly polished and chrome plated, delivering a protective coating for added durability. 68305 Redline 3 Piece Heavy Duty Soft Grip Pliers Set: Carbon steel hardened and tempered with soft grip handles and slip guards, these reliable pliers are safe and comfortable to use for a range of jobs. 68013 Redline 6 Piece Soft Grip Screwdriver Set: This set includes flared tipped and tapered screwdrivers and is ideal for everyday household use. Each screwdriver has

an ergonomic soft-grip handle for maximum comfort. 68700 Redline Staple Gun: Featuring a robust metal body, this staple gun is a moving house musthave and sure to come in handy for various decorating and furnishing projects. 80211 Redline Soft Grip Hard Point Handsaw: This saw features a hardened, tempered and polished steel blade set with 7tpi/8tpi hardpoint teeth, making it ideal for carpentry jobs around the home. 68819 Redline Junior Hacksaw: A tool box essential for any homeowner, this saw has a shaped soft grip handle for user comfort and comes with a blade tensioner. 67835 Redline Household Scissor Set: You’ll never be left looking for scissors again with this set of stainless steel scissors. For helpful how-to videos and more information on the Redline range visit www.drapertools.com

To be in with a chance of winning this Draper handy prize pack simply answer the question below: How many spanners are there in the Metric Combination Spanner set A: 4 B: 40 C: 14

How to enter: Email your answer, along with your name, address, and confirmation that you are over 18 years of age to: comps@homefocusmagazine.co.uk don’t forget to include ‘Draper Prize Pack’ in the subject line. Or go to www.homefocus.co.uk/competitions The winner will be picked at random from correct entries. TERMS AND CONDITIONS • The closing date is 10th March 2016 • The Editor’s decision is final • No purchase necessary • There is no alternative cash prize • We accept no responsibility for entries not received

homefocus • JAN/FEB 2016 53

WhereNext

homefinder Your steps to making all the right moves… WHERE NOW? If you’ve got the feeling that affordable or low cost home ownership (LCHO) can help you, then here’s what to do next Step 1 – Get registered If you want to buy through shared ownership or Help to Buy Equity Loan you should register with your local Help to Buy Agent. They’ll process your application to make sure you’re eligible for the scheme and provide you with a list of all the LCHO properties on offer in your area. It’s a little different in London but there’s still an online LCHO portal to point you in the right direction. Step 2 – Work out how much you can afford There’s no point falling in love with a place only to find out that it’s way above your price bracket. Outside London, your Help to Buy Agent will take you through a basic financial check, just to confirm that you’re eligible for shared ownership and/or Help to Buy and will give you an indication of how much you’re likely to afford. The figures will be more closely reviewed later on in the process. In London, your housing association will go over the figures with you once you’ve found a home you like. No matter where you live, we advise that you go to a specialist financial advisor who understands the LCHO market inside out. Step 3 – Home hunting Now for the fun part. Take a look at some of the affordable homes around, including the ones we feature in our regional property sections from page 12 of the magazine. There’s a fuller list on pages 56-58. Step 4 – Details Getting down to the nitty- gritty! Once you’ve found the home you want, and whether you live in London or not, you’ll formally apply for your home through the housing association or developer and they’ll give you a more detailed affordability check, often asking an independent financial advisor (IFA) of their choosing to find out how much you can afford. Step 5 – Check the small print If all goes ahead, then you’ll need to get in touch with a solicitor to take you through the legal side of buying a home. We advise using one with experience of LCHO transactions and you’ll find a list of them advertising on pages 66-67 of the magazine. Step 6 – Get moving Sorry, but there’s still more practicalities to go through before the excitement of moving into your own home, like telling DVLA to change the details on your driving license or registering with a new doctor, letting the bank know your new address and organising schools for your children. If you’d like a helpful checklist to make sure that you let everyone (who needs to know) that you’re on the move, contact info@ homefocusmagazine and we will send you an electronic version to download and keep.

LOOK FOR THE LOGO! For most of England, the government-backed schemes will have the Help to Buy logo - so wherever you see it, you’ll know that there are LCHO options available. In London you should look for the First Steps logo!

Your local HELP TO BUY AGENT will have a comprehensive list of all LCHO properties in your area. That includes shared ownership new build, shared ownership resales and Help to Buy properties. You can visit their website as listed below

LONDON www.sharetobuy.com/firststeps SOUTH www.helptobuysouth.co.uk SOUTH WEST www.helptobuysw.org.uk

EAST & SOUTH EAST www.helptobuyese.org.uk

MIDLANDS www.helptobuymidlands.co.uk

REST OF THE COUNTRY Homefocus magazine doesn’t cover the north of England, but if you go to www.helptobuy.org.uk, then you will be redirected to the appropriate website.

HERE’S THE KEY To help you on the way to getting the keys to your own door... We’ve colour coded our development sections on pages 12-30 and our homefinder property listings on pages 56-58, to make finding a property in your area a little easier. The key is as follows:

n London n South n South West n East & South East n Midlands

WANT MORE INFORMATION? email enquiries@homefocus.co.uk 54 homefocus • JAN/FEB 2016

ShowDiary

WHAT’S ON FIND OUT ABOUT EVENTS NEAR YOU!

HELP TO BUY ROAD SHOW Saturday 6th February 2016 10am to 4pm The Curve Theatre, Rutland Street, Leicester, LE1 1SB

Help to Buy New Homes Show Saturday 12th March 10.30am to 3.30pm The Pavilion Suite, Lingfield Park, Surrey RH7 6PQ

Help to Buy road show Help to Buy South Event

Help to Buy road show

Saturday 20th February 2016 10am to 4pm Park Inn by Radisson Hotel, Silver Street, Northampton, NN1 2TA

Saturday 5th March 2016 10am to 4pm Quality Hotel, 66 Trinity Street, Stoke-on-Trent, ST1 5NB

Help to Buy South Event

Help to Buy Show

Saturday 27th February 2016 10.00 – 4pm The Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH

Saturday 12th March 2016 10.00 – 3pm Hatherley Manor Hotel, Down Hatherley Lane, Gloucester, GL2 9QA

Saturday 19th March 2016 The Rep Theatre, Broad Street, Birmingham, B1 2EP

Ideal Home Show 18th March – 3rd April 2016 10am – 6pm daily Late Night Thursdays open until 9pm Olympia London

Homebuilding & Renovating Show NEC Birmingham 14 – 17th April

Can we help? Don’t forget you can contact homefocus if you’ve got a question about low cost home ownership or are interested in any of the properties we’ve featured. Just e-mail us at enquiries@homefocus.co.uk and we’ll do our best to help! Until the next issue of homefocus… happy homehunting!

homefocus • JAN/FEB 2016 55

PropertySearch

AFFORDABLE PROPERTIES

NEAR YOU!

HERE’S JUST A FEW OF THE HOMES IN YOUR AREA Location

Name of Development

No of Units

Type of Properties

Available From

Provider

EAST & SOUTH EAST www.helptobuyese.org.uk Arlesey Albone Avenue 12 Ashford Laurens Van Der Post Way 1 Ashford Tower Point 1 Ashford Wellesley View 1 Ashford Attlee Way 4 Ashford Charing 49 Ashford Cheesemans Green 20 Baldock Philosophers Gate 2 Biggleswade London Road, Biggleswade 3 Biggleswade Shuttleworth Court, Biggleswade 4 Borehamwood Danziger Way 1 Bracknell The Parks 3 Brighton Brighton Rocket 10 Brighton One Hove Park 5 Brighton & Hove Costal Place 1 Chatham St Marys Island 18 Chelmsford L&Q@Beaulieu 22 Chichester The Old School Apartments 14 Chichester Affinity Sutton at Graylingwell Park 22 Chichester Apple Tree Road 1 Chichester Homestead Road 1 Chichester Bleaches Court 2 Chichester St Margarets 8 Chichester The Dunes 6 Chichester The Heritage 36 Cranfield Home Farm, Cranfield 16 Darford St Marys Road 22 Dartford HNH at Phoenix Quarter 51 Ferring Meadowside 4 Fishbourne The Oaks 3 Guildford Weatherill Close 2 Guildford MacDowall Road 1 Halling Phase 3 - St Andrews Park Haywards Heath Ashurst 2 Ipswich Stoke Quay 10 Littlehampton Courtwick Lane 23 Maidstone Birling Road 28 Milton Keynes Yorkshire Close 1 Milton Keynes Oakgrove 17 Polegate The Mill 3 Rother Tithe Barn Field 1 Thanet Westwood Cross 15 Waverley Roberts Way 1 Westcliff-on-Sea Sunlight Mews 8

2 & 3 bed houses Coming Soon 2 bed coach house Now 2 bed flat Now 1 bed flat Now 2 & 3 bed houses TBC 2 bed bungalow, 2 bed flats TBC 1 & 2 bed flat, 2 bed flat over garage, April 2017 2 & 3 bed houses 2 & 3 bed houses Now 2 bed houses July 2 & 3 bed houses 2016 2 bed duplex Now 3 bed houses Now 1 & 3 bed flats, 2 bed flats w/chair acc. Now 1 & 2 bed flats Now 1 bed flat Now 2 & 3 bed houses , 2 bed flat over garage Oct 2016 1 & 2 bed flats 2016-2017 2 bed flats Spring 1 & 2 bed flats, 3 bed houses Spring 2 bed flat Now 1 bed flat Now 1 & 2 bed flats Now 2 bed flats Spring 2 & 3 houses Now 1 & 2 bed flats, 3 bed houses Now 1 & 2 bed flats, 2 & 3 bed houses June 2 bed flats, 3 bed houses July 2017 2 & 3 bed houses Now 2 bed flats June 2016 2 bed houses Now 2 bed flats Now 3 bed mid terrace house Now 1 & 2 bed flats Under Offer 3 bed houses Winter 2016 1 & 2 bed flats Now 1 & 2 bed flats, 2 & 3 bed houses Summer 1 & 2 bed flats, 2 bed houses Nov 2017 1 bed flats Now 2 & 3 bed houses Now 2 & 3 bed houses Now 3 bed house Now 2 bed houses Sept 2017 2 bed duplex Now 2 bed flats, 2 & 3 bed houses Now

Stonewater Homes Affinity Sutton Affinity Sutton Affinity Sutton Orbit Homes Orbit Homes Orbit Homes Stonewater Homes Aragon Aragon Affinity Sutton Affinity Sutton Hyde New Homes Hyde New Homes Affinity Sutton Orbit Homes L&Q Affinity Sutton Affinity Sutton Affinity Sutton Affinity Sutton Affinity Sutton Affinity Sutton Affinity Sutton Hyde New Homes Aragon Orbit Homes Hyde New Homes Southern Housing Hyde New Homes Affinity Sutton Affinity Sutton Red Loft Affinity Sutton Genesis Housing Assn. Affinity Sutton Orbit Homes Affinity Sutton Affinity Sutton Stonewater Homes Affinity Sutton Orbit Homes Affinity Sutton Estuary

LONDON www.sharetobuy.com/firststeps Aldgate Metropolitan@Aldgate Place Bexley Hill View Drive Bow Hancock Road, Bow Bow The View Bromley Manor Lodge Bromley HNH at Regent’s Place Bromley Amethyst Court

56 homefocus • JAN/FEB 2016

21 8 25 4 16 24 1

1, 2 & 3 bed flats 2 bed flat, 2, 3 & 4 bed houses 1, 2 & 3 bed flats 2 & 3 bed flats 1 & 2 bed flats 1 & 2 bed flats 2 bed flat

Phased June 2016 Now Coming soon Feb 2016 Now Now

Metropolitan Orbit Homes Southern Housing East Thames L&Q Hyde New Homes Affinity Sutton

PropertySearch

Location

Name of Development

No of Units

Type of Properties

Available From

Provider

LONDON www.sharetobuy.com/firststeps Bromley The Vale 2 Bromley Krueger House 2 Bromley Hardwick House 1 Canada Water Quebec Quarter 69 Chigwell Wanti Terrace 5 Cricklewood Gladstone Village 32 Croydon Walker House 1 Docklands Jessops at New Providence Wharf 25 Enfield Saffron House 10 Enfield Bolingbroke Park 50 Fitzrovia Cleveland Street@Fitzroy Place 14 Greenwich Ordnance Place 10 Greenwich L&Q@Greenwich Peninsula 11 Hackney The City Mills Phase 2 122 Hampstead Kidderpore Green 11 Harold Wood Kings Park 4 Harrow Colart 7 Islington The Fable Apartments at the Lexicon 1 Islington St Luke’s Centre 7 Kensington Grand Union Centre 13 Lewisham L&Q@Greenland Place Phase 2 10 Lewisham Thurston Point Lewisham St Peter’s Gardens 1 Lewisham Tanners Hill 43 Newham Chobham Manor- Phase 1 Release 8 North Kensington Retro Bosworth Road 8 Old Kent Road The Soap Works 8 Peckham BASE15 8 Putney Walpole Lodge Plaza Gardens Putney 34 Romford Vickers House 37 Romford Victoria Road 10 Southwark Harvard Gardens 27 Stonebridge Spring North 27 Stratford East Plaza 22 Tottenham Rivers Apartments Phase 2 Waltham Forest VillagE17 21 Walthamstow Stadium Place 99 Wandsworth Oakhill Park 8 Wandsworth Arcadia@Riverside Quarter 11 Wandsworth UP 12 Wembley Westside Court Forty Avenue 2 Westferry Canary Gateway 21 Woolwich The Liberty 85

3 bed houses Now 2 bed flat Now 2 bed flat Now 1 & 2 bed flats Early 2016 1 & 2 bed flats Coming soon 1 & 2 bed flats Spring 2016 2 bed flat Now 1 & 2 bed flats Now 2 & 3 bed flats Winter 2016 1, 2 & 3 bed flats Summer 2016 1 bed flats Now 1 & 2 bed flats Now 2 & 3 bed flats Now 1, 2, 3 & 4 bed flats, 2 bed houses Now 1 & 2 beds flats Coming soon 3 bed townhouses Now 1 & 2 bed flats Winter 2016 1 bed flats Now 1 & 2 bed flats Spring 2016 1 & 2 bed flats Now 1, 2 & 3 bed flats Now 1, 2 & 3 bed flats Now 2 bed flat Now 1, 2 & 3 bed flats Spring 2016 1 bed flat, 3 bed houses Now 1 & 2 bed flats Now 1 & 2 bed flats July 2016 1 & 3 bed flats Now 1, 2 & 3 bed flats Now 1, 2 & 3 bed flats Now 2 bed flats Now 1 & 2 bed flats February 2016 1, 2 & 3 bed flats Now 1, 2 & 3 bed flats Now 1 ,2 & 3 bed flats Now 1, 2 & 3 bed flats Coming soon 1, 2 & 4 bed houses, 1, 2 & 3 bed flats, February 2016 3 bed maisonettes 1 & 2 bed flats Available 1 & 2 bed flats Now 1 & 2 bed flats Now 3 bed maisonettes Now 1, 2 & 3 bed flats Coming soon 2 bed flats - over 55s Now

Affinity Sutton Affinity Sutton Affinity Sutton L&Q East Thames Octavia Affinity Sutton Genesis Housing Ass. Origin Housing L&Q Octavia L&Q L&Q L&Q Newlon Home Ownership East Thames Origin Housing Affinity Sutton Affinity Sutton Affinity Sutton L&Q L&Q Affinity Sutton Affinity Sutton L&Q Octavia Southern Housing Southern Housing Octavia Estuary Estuary L&Q Hyde New Homes East Thames Newlon home Ownership Metropolitan L&Q Metropolitan Viridian Housing Viridian Housing Octavia Metropolitan Viridian Housing

MIDLANDS

www.helptobuymidlands.co.uk Barford Leafield Mews 4 2 bed bungalow, 2 & 3 bed houses Bedford Greenlakes Rise, West Wixham 10 2 & 3 bed houses Bidford upon Avon Friday Furlong 5 2, 3 & 4 bed houses Bidford upon Avon Bramley Way 5 2, 3 & 4 bed houses Birmingham Ownall Road 1 2 bed flat Bishops Itchington Gaydon Road 8 2 & 3 bed houses Blaby Grace Road 5 2 & 3 bed houses Brackley Radstone Fields, Brackley 21 2 & 3 bed houses Bromsgrove Church Meadows 10 2 bed house, 1 & 2 bed flats Cotgrate Colliery Metropolitan@Hollygate Park 64 houses Coventry Grange Road 18 18 Plots Coventry Cromwell Gardens 10 2 & 3 bed houses East Leake Meeting House Close 8 2 & 3 bed houses East Leake Lantern Lane 21 houses Exhall Burbages Lane 15 2 & 3 bed houses Great Witley Great Witley 2 3 bed houses Harborough Road Kibworth Meadows 12 2 & 3 bed houses Hinckley Brook Approach 8 2 & 3 bed houses Kineton Kineton Mews 11 2, 3 & 4 bed houses Kings Sutton Hampton Drive, Kings Sutton 10 3 bed houses Leicester East Grangewood Manor 13 2 & 3 bed houses Leicestershire Bridle Way 16 2 & 3 bed houses Leicestershire Charnwood Chase,Forest House Lane 6 2 & 3 bed houses Leicestershire Springwell Lane 13 2 & 3 bed houses Markfield Mineral Quarter 10 2 & 2 bed houses Pinvin The Green, Pinvin 2 2 bed houses Ruddington Wheatley Fields 12 2 & 3 bed houses Southam Banbury Road 12 2 bed flats

Now Now July 2016 Dec 2016 Now Now Feb 2016 2016 Now Phased Jan 2018 April 2016 Coming soon Phased April 2017 Now Now Now TBC 2016 Now Nov 2016 June 2016 June 2016 Now Now Coming soon TBC

Orbit Homes Orbit Homes Orbit Homes Orbit Homes Affinity Sutton Orbit Homes Orbit Homes Aragon Stonewater Homes Metropolitan Orbit Homes Orbit Homes Metropolitan Metropolitan Orbit Homes Stonewater Homes Orbit Homes Orbit Homes Orbit Homes Aragon Stonewater Homes Orbit Homes Orbit Homes Orbit Homes Orbit Homes Stonewater Homes Stonewater Homes Orbit Homes

homefocus • JAN/FEB 2016 57

PropertySearch Location

Name of Development

No of Units

Type of Properties

Available From

Provider

MIDLANDS

www.helptobuymidlands.co.uk Stafford Effinch Lane 11 2 & 3 bed houses Stratford-upon-Avon Loxley Road 10 2 & 3 bed houses Stratford-upon-Avon Milestone Road 8 2 & 3 bed houses Stratford-upon-Avon Birmingham Road 5 2 & 3 bed houses Tutbury Castle Keep 16 2 & 3 bed houses

March 2016 Jan 2017 Now April 2016 Now

Orbit Homes Orbit Homes Orbit Homes Orbit Homes Orbit Homes

SOUTH www.helptobuysouth.co.uk Ampfield Basingstoke Basingstoke Chippenham Coleford East Hampshire Eastleigh Gosport Hook Norton Portsmouth Portsmouth Portsmouth Portsmouth Portsmouth Southampton Southampton Southampton Southampton Southampton Southampton Southampton Stanford in The Vale

Morley’s Green Egerton Drive Englefield Way Rowden Lane Thurstans Rise Kingdon Mews Surrey Court Alver Village Bourne View Southdown View Southdown View St Marys Hospital Portsdown Hill Affinity Sutton at Drayton Park Centenary Quay Steeple View Mayflower Mews Exford Avenue The Cloisters Raleigh House Queensway Poets Place

4 1 1 2 6 1 20 3 6 19 5 9 7 3 2 8 2 7 18 2 12 6

1 & 2 bed flats 2 bed flat 1 bed flat 2 bed houses 2 & 3 bed houses 2 bed flat 2 bed 1 & 2 bed flats 2 & 3 bed houses 2 bed flats 2 bed flats 3 & 4 bed houses 2 & 3 bed houses 2 bed flats 2 bed flats 2 bed flats 1 & 2 bed flats 1 & 2 bed flats 1 & 2 bed flats, 2 & 3 bed houses 1 & 2 bed flats 2 bed houses, 1, 2 & 3 bed flats 2 & 3 bed houses

Now Now Now Now Now Now Now Now Now Now Now TBC TBC Now Now Now Now TBC Now Now Now Now

Hyde New Homes Affinity Sutton Affinity Sutton Stonewater Homes Stonewater Homes Affinity Sutton First Wessex First Wessex Stonewater Homes First Wessex First Wessex First Wessex First Wessex Affinity Sutton Spectrum Housing Group Spectrum Housing Group First Wessex First Wessex Affinity Sutton Affinity Sutton Stonewater Homes Stonewater Homes

Tors Reach Stoke Road Woodberry Down Hele Park Hooe Lake Hayes End Monkton Heathfield Pemberley

8 10 1 9 2 3 8 1

3 bed houses 2 & 3 bed houses 2 bed houses 2, 3 & 4 bed houses 2 & 3 bed houses 3 bed houses 2 & 3 bed houses 2 bed house

Now Now Now Now Now Now Now Now

Spectrum Housing Group Stonewater Homes Spectrum Housing Group Spectrum Housing Group Spectrum Housing Group Stonewater Homes Stonewater Homes Stonewater Homes

SOUTH WEST www.helptobuysw.org.uk Chudleigh Henlade, Taunton Lyme Regis Newton Abbot Plymouth South Petherton Taunton Weymouth

Interested in any of the properties listed?

Email the name of the property to enquiries@homefocus.co.uk

58 homefocus • JAN/FEB 2016

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Call us on 0203 096 7141 for our bank details and you can pay online

homefocus • JAN/FEB 2016 59

homefinder East & South East H.Focus Directory Ads x 2 (90x61).qxp_Layout 1 09/10/2015 17:33 Page 1

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60 homefocus • JAN/FEB 2016

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homefocus • JAN/FEB 2016 61

homefinder London

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62 homefocus • JAN/FEB 2016

delivering exceptional homes across East London & Essex Call 0300 303 7333

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homefinder London H.Focus Directory Ads x 2 (90x61).qxp_Layout 1 09/10/2015 17:33 Page 2

we can help you find what you’re looking for

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25/09/2015 11:28

Shared Ownership • Discounted Rent Call our sales team now! Tel: 0845 606 1221 Email: info@hydenewhomes.co.uk www.hydenewhomes.co.uk Follow us on

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and

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Developing where people want to

Viridian is now a major provider of shared ownership properties across leafy south west London, one of the most desirable areas for first time buyers.

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DO YOU WANT TO PAY LESS FOR YOUR ENERGY

Brand new homes across London and the South East

0300 555 2171 sales@shgroup.org.uk

www.shosales.co.uk

If you want to find out about your government funded housing18/11/2015 options, contact your local Help to Buy Agent. You can find out more details by going to:

5345 SH SO Ad h61 x w91mm HFM ad.indd 1

www.gov.uk/affordable-home-ownership-schemes

With energy bills on the rise, call us free on 0800 0014 706 or visit www.myhomeenergyswitch.org.uk today to find the best price for your gas and electricity. It’s free, fast and simple to switch and we’ll take care of all the paperwork.

homefocus • JAN/FEB 2016 63

10:30

homefinder Midlands

Tired of Renting? Want to buy? We have brand new homes for Shared Ownership in many areas across the Midlands Check out where near you! Attractive Affordable Achievable

www.stonewaterhomes.co.uk 023 8065 8858 Co-operative communities benefit society No 205582

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If you want to find out about your government funded housing options, contact your local Help to Buy Agent. You can find out more details by going to:

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Tel.Tel. 01525 844460 01525 844460

64 homefocus • JAN/FEB 2016

homefinder South

homefinder South 023 8068 4463 www.firstwessex.org sales@firstwessex.org

Need a helping hand to get on the property ladder? Affordable properties in various locations: Hampshire Wiltshire Dorset, Devon Isle of Wight

Alver Village, Gosport

Affordable Hyde New Homes Shared Ownership • Discounted Rent Call our sales team now! Tel: 0845 606 1221 Email: info@hydenewhomes.co.uk www.hydenewhomes.co.uk Follow us on

and

Call Today 0800 316 3316 www.getmove-in.com

Tired of Renting? Want to buy? We have brand new homes for Shared Ownership in many areas across the South Check out where near you! Attractive Affordable Achievable

We leave good advertising to the professionals.

www.stonewaterhomes.co.uk 023 8065 8858 Co-operative communities benefit society No 205582

INTERESTED IN ANY OF THE PROPERTIES IN HOMEFOCUS?

Here at the Advertising Standards Authority, we judge ads on whether they’re harmful, misleading, or offensive. Not on whether they’re funny, clever or they look good. Which is just as well, really. Telephone 020 7492 2222 www.asa.org.uk

Email the name of the property to enquiries@homefocus.co.uk and we’ll do the rest. Remember to include your name.

Keeping advertising standards high

homefocus • JAN/FEB 2016 65

legaladvice

homebuyers

GUIDE

Buying a new home requires essential legal advice… contact a solicitor who specialisies in shared ownership transactions

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Visit www.free-conveyancing-guide.co.uk to receive your FREE Guide to Conveyancing. Please contact; Niki Sims or Sandra Thomas on 020 8567 3477, or email nsims@prince-evans.co.uk

HomeFocus ad-Shared Ownership_April13.indd 1



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 

  

66 homefocus • JAN/FEB 2016

10/04/2013 17:00

Right to Buy

legaladvice

Established over 60 years, Wiseman Lee has a dedicated department dealing with all Help to Buy schemes, Resales, Staircasing and all Housing Association schemes. Please contact one of our team for further information, advice and a quote for costs and disbursements:

We leave good advertising to the professionals.

Gary Gillespie – 020 8215 1062 – ggillespie@wiseman.co.uk Charlotte Griffiths – 020 8215 1090 – cgriffiths@wiseman.co.uk Debra Rose – 020 8215 5040 – drose@wiseman.co.uk 9-13 Cambridge Park Wanstead E11 2PU (opposite Wanstead Station on the Central Line)

020 8215 1000 www.wiseman.co.uk

Keeping advertising standards high

Don’t miss out... get the next 6 issues of homefocus delivered through your door

Published every other month to keep you up to date with the latest opportunities in shared and affordable home ownership Just £12.95 for the next 6 issues n The latest affordable developments in your region n Who to ask and where to find an affordable home n Information about shared ownership, New Build HomeBuy,

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PLUS MUCH, MUCH MORE; celebrity interviews, competitions and reader offers, jargon busters and homestyle articles To be sure of receiving the next 6 issues of homefocus, fill in the form and send your cheque* for £12.95 to: Graid Publications Ltd, 1 Kings Hall, 12b Kings Rd, Westcliff SS0 8LR

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homefocus • JAN/FEB 2016 67

Bromley-By-Bow

COMING EARLY 2016 An exciting and stylish new development in Bromley-By-Bow. A selection of 1, 2 & 3 bedroom waterfront apartments, available through Shared Ownership.

Computer generated image

A place to proudly call home

- Contemporary riverside apartments - Great First Time Buyer deals - Fashionable location with easy London links

www.shosales.co.uk/bowrivervillage Terms and conditions apply, for more details please call our Sales & Marketing Team on 0300 555 2171 In accordance with Consumer Protection from Unfair Trading Regulations 2008, these details and images have been prepared with due care, however the information contained therein is intended as a preliminary guide only. Southern Home Ownership Ltd is a housing association. Industrial & Provident Societies no: 1852R Registered Office: Fleet House 59-61 Clerkenwell Road London EC1M 5LA. Images are indicative and act as a guide to the finished product.