First Time Buyer – April/May 2017 by The Ultimate Guide Company

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY April/ May 2017 £2.95 firsttimebuyermag.com

STRATFORD, LONDON

WIN!

A FLYMO GARDENING SET WORTH £272

BEWARE OF CYBERCRIME – WHAT TO WATCH OUT FOR

THE FTB GUIDE TO GETTING ON THE LADDER

WHERE TO BUY ALONG THE LIZZIE LINE

“Everyone has high expectations of what they want, but you have to be realistic” Kirsty Duffy TV presenter

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EDITOR’S LETTER

E D I T O R I A L – 020 7258 0036

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk Editor LYNDA CLARK lynda@firsttimebuyermag.co.uk Senior Editorial Assistant DAWN HARKER

Creative Director RYAN BEAL

Sub Editor HELEN MATHIAS

Contributors DAVID BLAKE, RACHEL COLGAN, JOE GREEN, KAY HILL, LAURA DEAN-OSGOOD, NICK MASHEDER, ROGER SOUTHAM, GINETTA VEDRICKAS A D V E RT I S I N G – 020 7258 0036

Director of Advertising/Exhibition Sales LYNDA CLARK

lynda@firsttimebuyermag.co.uk Special Events EILIDH MACLEOD – First Time Buyer Home Show – First Time Buyer Readers’ Awards boom@squarepegmedia.com Accounts DAVID SELF david.self@ultimateguidecompany.com Managing Director SARAH GARRETT sarahg@spmgroup.co.uk

Welcome With spring just around the corner, many of you will be very keen to get out and about to start looking for your dream first home, If you are a little confused about how the process works, or are unsure of where to start, then why not come along to our next FTB Home Show on 25 March at Stratford Town Hall? This free-to-attend event is the perfect opportunity to talk to experts, see what homes are on offer and find out how to get on the property ladder. You can register at ftbhomeshow.com, or just turn up on the day and I look forward to seeing you there. You may also like to look at our FTB Guide in this issue (page 32), which hopefully answers all your questions and also features some homes you might be interested in. Our FTB Readers’ Awards 2017 are a highlight in our calendar, but it is you, the reader, who we ask to go online and VOTE. The competition is hot, with some truly inspirational developments and homes for first time buyers, so please go to our brand new website, ftbawards.com, and vote for all your favourites. We really do NEED YOR VOTES! Our feature on Cybercrime (page 30) is a complete eye-opener and very scary – do make sure you follow the tips, so you don’t find yourself falling victim to an ingenious fraudster who steals your deposit! Lastly, we have ‘gone to sea’. In May, my son is rowing across the English Channel to raise money for Sarcoma UK, a charity that is dedicated to providing support and information to those affected by this rare form of cancer. It is an extremely worthwhile cause and details of how to donate are on page 126. We are also the official media partners of The Blueprint Regatta taking place in Cowes, Isle of Wight in June (see page 124 for more details). Until next time, happy house hunting!

Public Relations RACHEL COLGAN rachel@building-relations.co.uk SUBSCRIPTIONS 020 3874 1649 SWITCHBOARD 020 7258 1777 FAX: 020 7258 1787

firsttimebuyeronline EDITOR’S PICKS…

I wanted to do something that helped make more of a difference socially

THE ULTIMATE GUIDE COMPANY LTD, 37 IVOR PLACE, LONDON NW1 6EA

All advertising copy for June/July 2017 must be received before 10 May 2017. Send all copy to: lynda@ firsttimebuyermag.co.uk The content of this publication, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior permission from the publishers. Opinions expressed in First Time Buyer magazine are not necessarily those of the publishers. © The Ultimate Guide Company Ltd 2008-2017. The Ultimate Guide Company Ltd t/a First Time Buyer magazine will take no responsibility for any loss/ claim resulting from a transaction with one of our advertisers/media partners.

@firsttimebuyer

I had an office in a shipping container in the back garden, which I had always wanted to live in

Max McMurdo, At home with, Page 14

Jim Munson, Spotlight on, Page 130

The layout of the home also means we can have some family time together

We really want to buy our own home, put down some roots and start a family soon

Gareth Brogan, House Hunter, Page 16

Be especially on guard if contacted out of the blue by someone you don’t know Mark Steward, Buyer Beware! Page30

Rachel Kabambe, Real Life, Page 64

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CONTENTS

APRIL/MAY 2017 / ISSUE 64 / FIRSTTIMEBUYERMAG.CO.UK

What’s in… 60

Affordable homes

After separating from her husband, mum-of-two Rachel Kabambe had problems finding a home with enough room for her and her two daughters. Then she discovered a shared ownership home at Bowles Square, Enfield, from Notting Hill Sales and now the family are living happily ever after.

HOMEPAGE

FEATURED

11 FTB Loves...

20 The View: Kirsty Duffy

A round up of our favourite hot buys.

Kirsty has had a very interesting career and co-presented The Wright Stuff on Channel 5 for six years. She will soon be seen on Channel 4 co-presenting the second series of Coast V Country with Dr David Bull. She tells Lynda Clark about her property experiences and gives some excellent advice for first time buyers looking to get on the ladder.

12 Living Brighten up your home this spring with shades of yellow – one of this season’s hot colours.

14 At Home with... Max McMurdo Max set up restore in 2003 and designed a range of furniture from

14 waste material. Since then, he has appeared on many TV shows including George Clark’s Amazing Spaces – which followed Max as he built his houseboat. He has just written a book called Upcycling and talks to Lynda Clark about his inspiration, first home and plans for the future.

16 House Hunter We try and find Marie O’Dowd and Gareth Brogan their dream home in Greater Manchester.

18 Developer’s Doctor

12 4

Tim Seward, Director of Sales and Marketing at Latimer, answers a reader’s property question.

24 Crossrail: Prices May Be Rising, But is There Anywhere Still Affordable Along the ‘Lizzie Line’? With Crossrail due to be ready in just over a year, Ginetta Vedrickas looks at affordable hotspots along the line, which are perfect for first time buyers.

32 The FTB Guide to Getting on the Ladder If you are confused about the homebuying process, then our simple guide will answer all your questions.

30 Buyer Beware With cybercrime on the increase, Kay Hill looks at how to avoid having money, such as your deposit, stolen by fraudsters.

First Time Buyer April/May 2017

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CONTENTS KIRSTY DUFFY, PAGE 20

IT IS VERY IMPORTANT TO LIVE IN A HOME BEFORE YOU START CHANGING IT AROUND, AS ONLY BY ACTUALLY LIVING IN IT, WILL YOU BE ABLE TO MAKE PROPER INFORMED DECISIONS ABOUT WHAT TO DO

Kirsty Duffy

HOMEMAKER

buyer

there have been significant changes and it has been watered down.

110 Market

READERS’ AWARDS 2017

Will the Government’s long-awaited Housing White Paper really ‘fix the UK’s broken housing market’? Ginetta Vedrickas looks at the implications for first time buyers.

Friday 21 April

112 Agony Agent 100 First Home, First Meal Jeremy Pang creates a tasty Sichuan chicken stir-fry, taken from his latest book, Chinese Unchopped.

67 First Time Buyer Readers’ Awards 2017

REGULARS

115 Buyer’s Guide Check out FTB’s Buyer’s Guide, which walks you through the steps to purchasing your first property.

120 What Solicitors Do: Purchasing a Property

A chance to view the shortlist of all the different categories, plus details of how to cast your all-important vote.

All your property questions answered by our panel of experts.

A step-by-step guide from Beaumont Legal on the legalities of homebuying.

122 Directory

Competition Win a Flymo Mighti-Mo 300 Li and Contour Cordless XT gardening set, worth £272

Where and how to contact your Help to Buy Agents or providers.

38 Hotspot We look at Slough as a place to live.

104 Credit Clinic The latest in our series in which Experian’s credit expert, Joe Green, answers your questions about all things to do with your credit.

106 Mortgage Clinic David Blake of Which? Mortgage Advisors answers your mortgagerelated questions.

108 Finance Following the recent Housing White Paper, Kay Hill looks at the Starter Homes scheme and discovers that

130 Spotlight on... We talk to some of the key players in the property world, to get their views and ideas of how to get on the ladder – this issue, we speak to Jim Munson, Head of Marketing & Customer Care at Metropolitan.

First Time Buyer April/May 2017

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LETTERS

Mailbox REDECORATING WITH SHARED OWNERSHIP

WRITE TO US! Please send us your questions, comments and suggestions concerning property, or the articles in First Time Buyer magazine. First Time Buyer Letters, 37 Ivor Place, London NW1 6EA lynda@firsttimebuyermag.co.uk

I have recently bought my first home through shared ownership, and I own 35% of the property. I would like to redecorate and change some of the white goods in my house. Can I do this without the housing association’s permission? Tyler Cox FTB: Shared ownership is a great way to get on the property ladder, but it does however come with some restrictions, which will be outlined in your lease. Every housing association has different rules and restrictions and some are more lenient when it comes to redecoration, but most will require written approval before any structural changes are made. If you are unsure, look back at your lease agreement, or speak to your housing association before doing any work. This issues star letter wins an expandable woodware draw insert from Judge, which will fit into most kitchen drawers. The easy to use design makes organising your cutlery and utensils an effortless task. Made up of five compartments and expandable into seven, it is essential for every first time buyer’s kitchen. It is also easy to clean and dishwasher safe. Kitchen woodware drawer insert, £31.92, Judge, judgecookware.co.uk 0117 940 0000

WHAT IS A MORTGAGE FEE? I have recently been viewing properties and feel like I am ready to start the buying process for my first home. I have visited my bank to talk about mortgages and was given lots of information and help, but the mortgage they offered me came with a mortgage fee. I was wondering what this fee covers and if all mortgage applications would have a fee? Thomas Greenstone

FTB: It is quite usual for there to be an arrangement fee which can be anywhere between £500 to over a thousand pounds. Some fees are charged as a percentage of the loan and they can work out to be even more expensive. You may be given the choice of adding the arrangement fee to the loan and, although this will help with your budgeting costs initially, you should be aware that you will be paying interest on it for the length of your mortgage deal, so it could work out to be more costly.

RENT A ROOM I have been thinking about getting on to the property ladder and buying my first home. I have been considering buying a house bigger than I need, with a spare room, so that I can rent it out. I feel like it would be an investment and would help with my finances. Do you think this is a good option? Katy Bunter FTB: Many first time buyers rent out a room to help with the costs. However, if you are thinking of buying a bigger

STAMP DUTY I have been reading your magazine for a few months now and it has been really helpful as a starting point for me as a first time buyer. However, I don’t really understand Stamp Duty. What is it, and how much can I expect to pay? Simon Abney FTB: Stamp Duty is a tax on all land and property transactions. All homes bought to live in above £125,000 are subject to Stamp Duty. Stamp Duty itself is tiered based on the cost of your property and, currently, houses between £125,000 and £250,000

property and then renting out a room, make sure you compare the extra mortgage costs against the additional income from renting. If all the figures add up, you will find that, with the rental income, your outgoings should be less. Do make sure you do the maths, though, and check your tax situation as well. You should also rent out the room with a registered company like spareroom.com, or easyroommate.com, who check out every advert and profile, so you will be confident that you will be safe and secure.

pay a 2% Stamp Duty fee, while houses between £250,001 and £925,000 are subject to a 5% Stamp Duty fee. Usually your conveyancer or solicitor handles the Stamp Duty for you, so they will be able to guide you on how much you will be paying. You can also check online at moneysavingexpert.com/ mortgages/stamp-duty to get more advice and to use their online calculator.

VISIT OUR WEBSITE For everything you need to know about buying for the first time, go to firsttimebuyermag.com

First Time Buyer April/May 2017

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FTB LOVES

s e v o l FTB

What’s hot in the shops? Always on the lookout for exciting and innovative new ideas and accessories that will help create the perfect space, here are our favourites this issue

Spring Seating Now that the weather is getting warmer, it’s a good time to think about investing in some outside furniture. Perfect for a first time apartment or home, this outdoor chair and table set would fit nicely on a balcony or a patio. All that’s left is to enjoy the new season with a cup of coffee in the morning, or a glass of wine after work. Shabby chic bistro set, £149, Dobbies dobbies.com

Easter Eggs-travaganza Bringing Easter magic into your home is easy with this family-friendly Easter egg hunt set. Packed full with headbands, clues, baskets for your goodies, plus everything else you need to create a fun-filled day, it is great to use in the garden, or the home. Easter egg hunt kit, £4, Sainsbury’s sainsburys.co.uk

Potty P lant Pals Turn your flora into a talking point with these charming ceramic plant pots. The self-watering pots drink up water through their felt tongues to turn the seeds in their backs into plants. Available with a variety of styles and plants to choose from, they only need the occasional refill, making them perfect for busy people! Papa Peropon drinking animal planter, Small £10; large £28, Red Candy redcandy.co.uk

Tri-P ly Pans Lakeland’s new range of stainless steel Tri-Ply pans are incredibly non-stick and scratch resistant. The raised honeycomb design on the inside is specially formulated to keep food from sticking and protects the cooking surface even when metal utensils are used. An aluminium core, sandwiched between two layers of stainless steel, means that there are no hot spots – making cooking easier, with great results every time. They are suitable for all hobs and oven-safe up to 260C. Tri-Ply pan, from £38.99, Lakeland lakeland.co.uk

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Homepage LIVING

Spring Fever Add some bright yellows, soft pastels and floral patterns to your new home to create a perfect, spring-inspired interior Flower wall clock, £29.50, M&S

Yellow lampshade, £19.95, DaWanda

Set of two embossed bowls, £12, Next

Striped mug, £3; floral dinner plate, £2; set of 4 floral mugs, £5; two-tone jar, £6; floral side plate, £1.50, bunny ornament, £5; rabbit teapot, £8; rabbit cookie jar, £12; rabbit plate, £4; ceramic measuring cups, £5; set of 4 ribbed mugs, £6; windmill tealight holder, £7; set of 12 silicone cake cases, £2; trinket box, £10; flour shaker, £3; traditional scales, £9; set of melamine jug and 2 bowls, £12; set of 3 melamine bowls, £12, George at Asda

Daffodil print cushion, £19, M&S

Hello cushion, £14, Next

C O N TA C T S » DaWanda en.dawanda.com » Debenhams debenhams.com » George at Asda george.com » M&S marksandspencer.com » Next next.co.uk » Sainsbury’s sainsburys.co.uk » Tiger Stores uk.flyingtiger.com » Wilkinson wilko.com

First Time Buyer April/May 2017

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Homepage LIVING

Set of 3 cake tins, £12, George at Asda

Yellow ceramic vase, £12, Sainsbury’s

Retro floral bed set, £22; Irvine white metal bed, £175; dotty felt cushion, £14; quilted circle throw, £40; marble and brass task lamp, £60, Next

Arthouse quartz yellow wallpaper, £12, Wilkinson

Yellow basket, £6, Tiger Stores

Set of 3 tea tins, £12, Ben de Lisi at Debenhams

Wool rabbit, £10; willow milk churn, £15; eggcellent Easter card, £2; Easter plaque, £6; Easter cushion, £8; floral milk churn, £15, Sainsbury’s

First Time Buyer April/May 2017

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Homepage LIVING

At home with:

Max McMurdo

Max McMurdo set up reestore in 2003, with the idea of designing and manufacturing high-end furniture, created from waste material which was destined for landfill. To inject more money into the company, he appeared on Dragon’s Den, successfully gaining investment. He then turned his hand to television and has appeared on many shows including George Clarke’s Amazing Spaces, which followed Max when he built his houseboat. He has written a very successful book called Upcycling and talks to Lynda Clark about his passion for reclaimed materials, his first home and his future plans FTB: Tell us about your first property experience MM: I bought my first home, which was an old cottage, for £87,000. It was in a terrible state, with no plaster on the walls and the stairs had fallen down, but I knew it had potential. I wanted to put my stamp on it and make it my own. I was there for four years, but it only had one bedroom and that was never going to change, so eventually I sold it and made £50,000 profit. I had an office in a shipping container in the back garden, which I had always wanted to live in, so I decided to use the equity I made from the cottage to fund my dream and started to create a home in a container, which was amazing. The container was 40 foot long by 10 foot wide and 10 foot high, but it was very beautiful, with wonderful large glass sliding doors, which folded right back along the front, a walk-in wardrobe and lots of quirky ideas everywhere. FTB: How did your interest in junk begin? MM: I always loved Blue Peter and the Wombles when I was young and I loved making things. My mum could never get to use washing up liquid from a bottle as I would decant it into a mug and then turn the bottle into a rocket, or a space ship! I eventually became a product designer and designed cars in Germany, but then I decided to start

making furniture out of scrap and it became a business, which has grown year on year. FTB: What was it like working with Deborah Meaden and Theo Paphitis from Dragons’ Den? MM: It was 2007 and I was in my late 20s. I had a stall in Camden but I was quite poor and my girlfriend at the time suggested I go on Dragons’ Den to see if I could get any investment. I was very nervous as you can imagine but Deborah and Theo invested £50,000 in reestore, my company, and it was amazing – they were my dream team and very supportive and I loved working with them. FTB: How did you get on to television? MM: Well it all happened by chance; following my short appearance on Dragons’ Den, I was asked if I would like to appear on the first series of George Clarke’s Amazing Spaces – after I decided to build a container office in my back garden. Last year, we filmed a special episode, which followed me selling my house and

building a houseboat out of a 40ft shipping container. I was also a judge on Shed of the Year on Channel 4, Kirstie’s Fill Your House for Free and Gok’s Fill Your House for Free. I co-presented Machine Impossible on the National Geographic channel last year, which was awesome fun, and I am working on a new show for Channel 4 with Sarah Beeny. We follow six families, who want to be mortgage free by designing and building their own home. There are some really weird and wonderful ways that the contributors go about converting their homes, using clever design and affordable building techniques. These homes are anything but conventional, but great fun. FTB: Tell us about your latest book MM: I was approached by the publishers who asked if I could write a book on upcycling and I decided to give it a go as I thought it would be a great opportunity to encourage people to try their hand at making

“IT’S AMAZING WHAT YOU CAN MAKE AND SALVAGE – YOU JUST NEED TO BE BRAVE AND GIVE IT A GO, AND DON’T BE AFRAID TO PERSONALISE YOUR SPACE” 14 First Time Buyer April/May 2017

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Homepage LIVING

something out of scrap. You don’t have to have a garage full of tools and all the knowhow to be able to transform some old scrap items into something really wonderful. The book is called Upcycling and features 20 creative projects made from reclaimed materials. There are projects for beginners, which you could knock-up in an hour, right the way through to more complex items to make. I think it is very sad that Design and Technology is not compulsory on the national curriculum and so many young people don’t have a chance to try their hand at making things – we still need people who are carpenters, blacksmiths and thatchers, for example. When I was at school I wasn’t particularly academic, but loved using my hands to create things. The book has been a massive success and is also available in Italy, America, France and Canada. It actually sold out on Amazon the first morning! I enjoyed writing it so much, I am now on number two! FTB:: What are your plans for the future? MM: I am really passionate about trying to help society and especially the homeless. Where I live in Bedford, it is one of the worst places in the UK for homelessness and there are a couple of charities who are trying to help by going out on the streets and giving out hot soup. I have gone one step further and have created the Soupervan,

“I HAD AN OFFICE IN A SHIPPING CONTAINER IN THE BACK GARDEN, WHICH I HAD ALWAYS WANTED TO LIVE IN, SO I DECIDED TO USE THE EQUITY I MADE FROM THE COTTAGE TO FUND MY DREAM” which is a portable soup kitchen, made from my family’s old caravan. It provides the rough sleepers with somewhere warm and dry to enjoy a hot meal and somebody to talk to. We painted the old caravan and I created some blackboards with inspirational messages, and we go out and give 25 homeless people a hearty bowl of soup and some crusty bread, served in beautiful vintage bowls. There will, hopefully, soon be 28 Soupervans across the

country and I want them to become a visual beacon, so everyone knows what they are and what we are trying to do. FTB: What advice do you have for first time buyers? MM: First time buyers are bound to be on a limited budget, so you need to be savvy when it comes to kitting out the interior. When I had my first home I found an Ercol sofa and chairs, which couldn’t be sold because they didn’t have a flame retardant label. I simply bought some new fabric and upholstered them for about £10. It’s amazing what you can make and salvage – you just need to be brave and give it a go, and don’t be afraid to personalise your space. reestore.com

First Time Buyer FApril/May 2017

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Homepage FIRST RUNG

The

HOUSE HUNTER

What we found… THE FAMILY LIFESTYLE Trinity Point, Pendlebury

FROM £194,995

THE COUNTRY CONNECTION Eardley Park, Congleton

FROM £35,000*

This month, FTB goes on the hunt with Marie O’Dowd and Gareth Brogan, who are after a home with at least two bedrooms in Greater Manchester

PROFILE

Name Marie O’Dowd, 36, Gareth Brogan, 37 Occupation Recruitment manager, office manager Maximum budget £195,000 Requirements A two or more bedroom home, with outdoor space, in Greater Manchester, close to a town centre and with good transport and road links into Manchester

What they wanted… Marie and I have been renting an apartment close to the centre of Manchester for a couple of years now. It’s perfectly nice, but we only have one bedroom and we don’t see it as the place to settle down in. We really want to buy our own home, put down some roots and start a family soon, so we’ll be needing at least one extra bedroom, if not more. Ideally, we’d love a house with a garden and parking, but we’re quite open to where that house is! Although we’ve loved being close to the centre and a short commute is rather nice, we’re happy to consider anything up to a 45-minute journey to work. We work about five minutes from each other in Manchester, so we’d be able to drive in together and park at Marie’s office. We’ve been planning for a while and have saved a deposit of just under £20,000. Our budget is around £195,000.”

These pretty new family homes lie four miles north of Manchester’s city centre, close to the River Irwell and a short walk from beautiful Drinkwater Park. The homes range from three bedroom semis to three and four bedroom detached properties. The spacious three bedroom detached homes are arranged over two floors, with a w/c on both floors and an en suite from the master bedroom. Downstairs, there are separate lounge and dining rooms, with French doors opening from the kitchen on to a private rear garden.

There are 44 new two and three bedroom homes available at Eardley Park in the market town of Congleton, within Cheshire’s beautiful countryside. Located just over 20 miles from Manchester, the homes are completed to a high standard, with quality fitted kitchens with integrated appliances, tiled bathrooms and eco features, plus front and back landscaped gardens as well as private parking. Congleton has some great amenities, while the larger towns of Macclesfield and Warrington lie within easy reach.

bellway.co.uk

riversidehomeownership.org.uk *Based on a 25% share of the full market value of £140,000

What they thought… We’re very excited that our budget could get us a detached property – we never really thought that would be possible. We really like the style of these houses as they’re all quite different and pretty classy. We love that there is a downstairs toilet, and the bedrooms are all a really good size – perfect for having guests and for family life. The location is very good; travelling to work would be so easy – we could drive, take the bus, or cycle in, in well under 45 minutes.”

This location is certainly very different to where we are now – it’ really quite rural, which is fine by us! We both love getting out and enjoy visiting the Peak District, so this would be a great location for that. The houses are really attractive, and we like the idea of going home every day to green fields and a different way of life, plus we’re sure our friends and family would love coming to stay. The commute is around one hour, which is a bit longer than we’d hoped for, but we definitely wouldn’t rule it out.”

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Homepage FIRST RUNG

THE UP-AND-COMING St Augustine’s, Oldham

FROM £172,995

THE COMMUTER’S DREAM Grace Gardens, Gorton

FROM £146,995

First choice! TH E PA RK LIF E

FROM £189,995

Booth Hall, Blackley

Just over 10 miles north west of Manchester, the bustling town of Oldham is growing increasingly popular with first time buyers. This new development, which sits just outside of the town centre, is home to a mix of semi-detached and detached, three and four bedroom properties. The three bedroom homes feature spacious kitchen/ living areas with doors opening to a private rear garden, while upstairs, the master bedroom benefits from an en suite. Homes also come complete with a private driveway, or garage.

The up-and-coming suburb of Gorton lies three and a half miles from Manchester and is home to this attractive development of two and three bedroom semi-detached homes, perfect for young families. The two bedroom properties feature separate kitchen and living room, a w/c on the ground floor and two well-sized bedrooms on the first floor. Transport links are excellent, with three railway stations within a one-mile radius, and trains from nearby Belle Vue will take you to Manchester Picadilly in just nine minutes.

lindenhomes.co.uk

I’m actually from Oldham and know it really well, so I quite like the idea of being back there and so close to lots of my family and old friends. We really like the layout of the homes and love the idea of having doors on to a garden – that really would be a dream come true for us. The journey into Manchester isn’t too bad at all; it only takes about half an hour in the car, or just a bit longer by train, so getting to work would be a doddle.”

We know Gorton really well – we actually lived here when we first moved in together and really loved it; it’s got a lot going for it and it’s certainly now on the up. The houses here are really nice – it seems like there’s plenty of space, which we’re really not used to and will both love! The commuting times are also amazing – the journey into town is so, so easy, there really is nothing to complain about here at all!”

Manchester ent, four miles north of This major new developm four range of two, three and city centre, is home to a The s. ilie fect for growing fam bedroom properties, per ,a ugh Clo le Ho utiful Boggart development borders bea has and s, ilitie fac rts é and spo huge park with lake, caf ll directly buses run from Booth Ha s; link rt spo tran nt excelle nty of ple ular basis. There are to the city centre on a reg viding pro y rhe rpu the town of Ha amenities close by, with es. caf of nty ple and ng centre supermarkets, a shoppi taylorwimpey.co.uk

THE NEXT STEP

“We are really very excited by these houses – we love the style, the amount of space and the huge park that will be on our doorstep. It really would be the ideal place to start a family. We have spoken with a mortgage advisor to arrange a mortgage in principle as we’ve been advised that things can move a lot quicker once we have that.”

We love the look of these houses, they meet everything on our wish list, with plenty of space and a back garden – what puts this above the rest, though, is the location. There’s a huge park right on the doorstep, which would be amazing if we have kids, and there are loads of shops and cafes and everything you need in Harpurhey, which is easy to walk to. It’s also super easy to get into Manchester from here, which is another massive bonus. We think it would be quite exciting to be part of a new development – there will probably be lots of first time buyers like us, as well as young families, so hopefully a good community feel.”

First Time Buyer April/May 2017

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ADVICE

Developer’s Doctor Tim Seward is Director of Sales and Marketing at Latimer – the private and shared ownership sales brand for Clarion Housing Group. Tim has worked in the property sector for over 20 years, previously as Sales and Marketing Director at Circle Housing and, before that, working in roles at the National Housing Federation, government housing services and estate agencies. Here, Tim explains how to take that first step on to the property ladder

Question… I am a young professional and I am currently living in a rented, one bedroom apartment in east London. I love living in the city as there is so much going on and it’s practical when it comes to getting to my job in Canary Wharf. However, I’m 30 this year and I’m worried that I will be stuck living in rented accommodation for the foreseeable future. I do have some savings, which could be put towards a deposit, but I don’t think it will be enough to buy my own place. What would be your advice?

Answer … Unfortunately, your situation is very familiar as I regularly speak to young people who want a home of their own in the capital, but simply find themselves priced out. While the average age for a first time buyer across the UK is 30, most young people living in the capital have to wait for at least three or more years before they can get on the property ladder. The average price paid for a home in the capital by a first time buyer has reached over £460,000 and, as a Londoner yourself, you won’t be surprised to hear that 10 of the least affordable areas are all within the M25. According to Halifax, aspiring homeowners in London are now putting down an average deposit of £96,000. So, the situation you are in is a difficult one, but it’s not all doom and gloom; the good news is, that there are many options out there that can help to make the initial costs more manageable. The Government’s Help to Buy Equity Loan initiative, for example, is appealing as first time buyers only need a 5% deposit. Under the scheme, the Government lends the buyer up to 40% of the property’s value

as an equity loan. The buyer then takes out a mortgage on the rest of the home’s value. So, if your deposit was 5%, and your equity loan was 40% you’d then take out a 55% mortgage. You should also consider looking at shared ownership schemes, which are another great opportunity for buyers who may be struggling to get enough money together for a deposit. Shared ownership enables you to buy a share of your home

Time Seward, Director of Sales and Marketing, Latimer

(usually between 25% and 75% of the home’s value) and pay a low rent on the remaining share. As some lenders are offering 95% loan-to-value mortgages (subject to buyers meeting the eligibility criteria), buyers going down this route might also only need a 5% deposit. So that could be just 5% of the 25% share if you buy the minimum amount. To find out more visit sharetobuy.com

EAST CITY POINT Latimer’s East City Point is a stunning new development, designed with first time buyers in mind. Located in Canning Town, this scheme has over 40 contemporary homes available through shared ownership. The properties are a mix of one and two bedroom apartments and two bedroom duplexes. Buyers can buy a 35% share of a one bedroom apartment for as little as £112,000 (with a full market value of £320,000), while two bedroom duplexes start at around £163,625 for a 35% share (with a full market value of £467,500). Canning Town is ideally located at the heart of some of London’s most dynamic districts, including Canary Wharf, Stratford and the City. This scheme is also part of a £98m regeneration project, which is transforming Canning Town into the next up-and-coming part of the East End. The homes are constructed and finished to a high standard, to ensure that they are not only comfortable, but built to last. A selection of the properties even boast their own parking and terraces. Buyers will benefit from a variety of energy-efficient measures, which are designed to keep fuel bills down – including a high level of insulation, low-energy lighting and water saving spray taps. Tim Seward, Director of Sales and Marketing for Latimer said, “East City Point is perfect for young professionals who work in Canary Wharf, or other nearby business districts, and yearn to get on to the housing ladder. “Although Canning Town is still affordable compared to the likes of Hoxton and Shoreditch, the recent regeneration suggests that buying a home in the area also represents a wise investment opportunity.” To find out more, either visit the website latimerhomes.com, or call the sales team on 0300 100 0303

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THE VIEW

Action Girl

Kirsty Duffy has had a fascinating career including co-presenting The Wright Stuff on Channel 5 for six years, being the roving reporter on Live with Gabby Logan and presenting at the London 2012 Olympics, where she hosted the Taekwondo. Soon she will be back on our screens co-presenting Coast V Country with Dr David Bull. She talks to Lynda Clark about her work, her property experiences and gives some great advice for ftbs Kirsty is full of fun and one of the bubbliest people I have talked to in a long time. She has been taking a little down-time since having her beautiful daughter FrejaAmelie with her partner Ben Richards – an actor, known for his roles in Holby, The Bill, Footballers Wives, Hollyoaks and, most recently, in the West End, playing the lead in The Bodyguard opposite Beverley Knight – but she is now very busy filming the new series of Coast V Country, which she loves doing. “I had a very happy and busy childhood and have two sisters and a brother. We lived in a small, rather modest house and I shared a bedroom right up until I left home. It was needs must at the time, but I so wanted my own space and to stamp my own personality on my room. I loved Taekwondo and swimming and was a very keen dancer and singer. My grandparents were a very big part of my life. My grandma got bored very quickly and had very itchy feet and so moved home all the time. I thought it was very exciting and, even when questioned on why she kept moving, she said she needed a fresh start and she genuinely loved the whole moving experience.” Kirsty left school and had this overwhelming need to perform and be on stage. “I did two seasons at a well-known holiday camp as a performer. It was very good

fun and eventually I was in a pop group there. I decided to move to London and was in an all-girl band, which was great, but I still felt I should be doing more. I went on a reality show called Cruel Winter where we had to do some pretty horrible challenges, but I won and got £10,000, which was amazing! I paid back my parents the £3,000 they had given me to help me out when I moved to London. I really didn’t know what to do next and wasn’t sure whether I should put the rest of the money into going to drama school, or make a showreel to see if I could get any work and an agent.” She settled on making a showreel, then found an agent who decided to give her a chance and put her forward for a casting for a presenting job on a live show. “I went along and got the job, which really started my career.” During this time, Kirsty started buying and selling property with her boyfriend at the time, which she really enjoyed. “Even as a little girl, I loved walking along the road and looking through net curtains to see the rooms inside houses. I was fascinated by people’s homes. We bought properties and completely renovated them and then sold them – it was very exciting and I throughily enjoyed all the hard work.” Still not sure what to do with her career, Kirsty decided to go to Law school for a year, but eventually she knew it was not going to

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"IT IS VERY IMPORTANT TO LIVE IN A HOME BEFORE YOU START CHANGING IT AROUND, AS ONLY BY ACTUALLY LIVING IN IT, WILL YOU BE ABLE TO MAKE PROPER INFORMED DECISIONS ABOUT WHAT TO DO" be the right choice for her. She then met a man who was an estate agent, who told her that her property experience and knowhow was amazing and took her on to work with him. “I was still working in TV filming for Most Haunted Live and doing lots of corporate work, including filming on the North Sea oil rigs, when I was offered a job to co-present The Wright Stuff with Matthew Wright for Channel 5. I learnt so much on that show about how journalism and media works. I also met the man of my dreams and we are now together. I had been out with boyfriends, but I really wanted to settle down and I decided that, the next time I met somebody, it would be the person I set up home and had a family with. Ben came on to the show and, after three or four phone calls, he asked me out. I decided not to wear any make-up, tied my hair back and just wore ballet pumps, so that he could see the real Kirsty! As soon as I sat down, though, I regretted it and thought to myself ‘why didn’t I wear heels?’ We really got on well and it was becoming quite serious, when he then said that we needed to talk as he had some things to tell me. He said he was not interested in just dating, but that I would need to think about things after he had spoken to me. He told me that he could never have children and he was in remission following bowel cancer and, as you can imagine, I was very shocked. I only ever wanted a family, but I told him that I would rather be with the

right person and not have children than the wrong person and have them. Believe it or not, a year and a half later I was pregnant, which was a miracle.” She didn’t have an easy time, though, and was rushed to hospital with a blood clot and was prescribed complete bed rest. After a difficult pregnancy, their daughter Freja-Amelie was born and they bought a little cottage in Herfordshire. Kirsty said, “We absolutely love it, although it is a little small now we have Freja. Ben was working on Hollyoaks and, five days after she was born, we decided to move to Liverpool so we could all be together when he was filming. We were in a hotel for six weeks and then rented for a year, which was fine, but not like being in your own home.” Now that Kirsty is very busy filming Coast V Country, she is away from home and obviously misses Ben and Freja. “As Freja is still very young, she is able to travel with Ben and come with me when I am filming. Otherwise, it isn’t too bad as I get home on a Thursday and leave again on Sunday afternoon, and Ben looks after Freja when I’m not there, so I never have to worry. Coast V Country is a really great series where house-hunters search for their dream home and are in a dilemma as one wants to live by the sea and the other in the countryside. I find homes for people who want to live in the country and David finds places by the coast.” One of the highlights of Kirsty’s career

"LOCATION IS ALSO VERY IMPORTANT AND I ALWAYS SAY IT’S BEST TO BUY THE WORST HOUSE IN THE BEST AREA THAN THE BEST HOUSE IN THE WORST AREA"

was presenting at the London 2012 Olympic Games and hosted the Taekwondo. “It was such an honour to be part of it and the Games really united everyone, which was incredible. I had to keep the crowd interested in what was going on, which was a challenge in itself. Afterwards, we were given a glass award of the Olympic rings as a keepsake, which is very special.” Kirsty has some excellent advice for first time buyers. She said, “Everyone has high expectations of what they want, but you have to be realistic and ask yourself what you really need in the home. It will not be your forever home and, although we have a vision of where we want to live, the biggest thing to ask yourself is can you afford it? It is important that you set a budget and stick to it as, if it doesn’t work out, there will always be another home and I really believe that, if it is the house for you, it will work out in the end. If the interior isn’t quite to your liking, then you can change it as that is only cosmetic, but it has to have scope, tick all the boxes and feel completely right. Also, never buy a house based on your furniture as you can sell the furniture and start again. The home is the biggest investment you will ever make, but a sofa won’t last for long, so don’t base your decision around it. It is very important to live in a home before you start changing it around, as only by actually living in it, will you be able to make proper informed decisions about what to do. Location is also very important and I always say it’s best to buy the worst house in the best area than the best house in the worst area.” The new series of Coast v Country will be on Channel 4 on weekday afternoons from 19 June. If you can't decide between living by the coast or in the country and would like to appear on the programme, please email househunters@ coastvcountry.co.uk

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CROSSRAIL

CROSSRAIL: PRICES MAY BE RISING, BUT IS THERE ANYWHERE STILL AFFORDABLE ALONG THE ‘LIZZIE LINE’? It’s only just over a year now until London and the South East get their new railway, Crossrail’s Elizabeth line. Stretching from Reading in the west to the far corners of Essex at Shenfield in the east, the ‘Lizzie line’ is set to slash commuting times into the city. Prices along the line have risen, causing many an estate agent’s heart to beat faster, however, with 12 months to go until part of the route opens, are there still pockets of affordability for first timers? HEAD EAST: FORGET BLINGY BRENTWOOD, TRY ROMFORD Essex may have soared in popularity among TOWIE viewers in search of some Brentwood bling, but, three stops closer into London - admittedly less glamorous – Romford is still affordable, according to estate agents Balgores. “We’ve seen a huge increase in first time buyers. Before the Stamp Duty changes affecting landlords, buy-to-let investors were snapping everything up, but that’s changed now and first time buyers are back, which is encouraging,” says Gavin Hocket. Wellpriced homes are fuelling the interest, but many buyers are buying now with an eye on the transport improvements that Crossrail will bring, “This is still one of London’s most affordable boroughs, but we’re seeing people from all over London and they’re all interested in the rail improvements.” Balgores has properties to suit all pockets. “There’s a lot of history round here and we have a great selection of period cottages and new developments,” adds Hocket, who notices much of the interest is centred around upmarket Gidea Park directly on the route. Balgores is selling new homes at New Enterprise House, within easy distance of Chadwell Heath

and Romford’s mainline stations, which will both benefit from Crossrail next year. One beds start from £190,000, up to around £360,000 for larger units. A two bed flat can be bought for around £270,000 and a small house for £320,000. “People often start off in Romford, then head out to trendy Brentwood, it’s a natural progression,” says Hocket, who thinks that Romford itself has much to offer: “It’s a vibrant, lively town centre, with some good shopping facilities.” Terry Holmes of Beresfords also finds that homes near the Crossrail route are proving popular with first time buyers. “Crossrail gives them excellent links to the capital and, thanks to a short commute, property owners in this area can enjoy all that London has to offer, plus relatively affordable house prices in comparison to central London.”

SOUTHEASTERN CORNER In London’s southeastern pocket, Woolwich is fast becoming a buzzy area for buyers seeking value, and new developments are springing up around the Crossrail hotspot. It’s currently only 18 minutes by train into Canary Wharf on the DLR, but, in 2018, there will be 12 services an hour, taking passengers from Woolwich into Canary

Wharf in eight minutes, Liverpool Street in 14 minutes and Bond Street in just 22 minutes. Lovell Homes’ Jonathan Goring believes that interest and prices will soar. “It’s no wonder Woolwich is one to watch for aspiring homeowners. Woolwich’s brilliant travel links already provide an 18-minute journey and, when the new Crossrail station opens, travel times will get even shorter. Our latest development, Trinity Walk, will be a distinctive new neighbourhood for first time buyers and families in this current property hotspot.” Berkeley Homes’ Lyndon Nunn, agrees that Crossrail is having a big effect, driving up prices along its route. “At Royal Arsenal Riverside, Crossrail has already generated significant price growth, despite the station not being open until 2018. With these much faster journey times into central London and to key centres of employment, Crossrail has opened up a wealth of opportunities for first time buyers to get on the property ladder, in places that are already thriving in their own right and are also now within easy reach of the capital.” Berkeley is offering Discount Market Sale homes at 20% below the open market value at Royal Arsenal Riverside. Suburbs around the Crossrail stations are also benefitting from the proposed

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CROSSRAIL

improvements explains Natalie Perry of Barratt Kent. “In Abbey Wood and surrounding areas like Belvedere – where our Tower Hill development is situated – the area was already ideal for families, with good parks, open spaces and schools, but the icing on the cake is the impressive transport connections that Crossrail will bring, making it a serious commuter zone.”

HEAD WEST: NEW HOTSPOT WEST DRAYTON Along Crossrail’s western route out to Reading, pockets of affordability are still available, although this stretch won’t benefit from the Lizzie line until 2019. Hotspot West Drayton already has excellent road, rail and air links, with fast rail connections to London's city centre, Heathrow and good access to the M4 and M25. When Crossrail arrives in 2019, travelling times will be slashed even further, making the West End accessible in just 23 minutes and getting you into Canary Wharf in 37 minutes. Director of Cameron Group, Nicholas Jordan, says that the property market here

has been rising steadily over the last two years. “Prices may well continue to increase in value for the foreseeable future as the completion date for Crossrail gets closer.” Housebuilder Redrow is also building a new collection of homes here. Padcroft is opposite West Drayton train station on a prime canal-side location in the town centre, with many of the homes enjoying waterside views. Redrow’s Simon Halfhide says that the area’s investment, which includes hundreds of new homes, and new shops opening on the high street, is making West Drayton ‘one of the most desirable property hotspots within the London Borough of Hillingdon’. “With local agents expecting a continued increase in the capital value of properties sold off-plan, we believe that the high demand for newbuild property in the area will continue.”

SLOUGH IS ONE TO WATCH Three stops further west, Slough is also one to watch. Its train station already enjoys great transport links, Paddington can take as little as 17 minutes at peak times, but

next year, Slough will also benefit from the arrival of Crossrail, which – as well as bringing 1.5 million more people within a 45-minute commute of London’s main business districts – will boost Slough’s rising status as one of London’s most popular commuter towns. Slough will eventually enjoy four Crossrail services an hour at peak times, so central spots such as Bond Street and Oxford Street will be just 32 minutes away, with direct services to the commercial hubs of Liverpool Street and Canary Wharf in 39 and 46 minutes respectively. Developer Paradigm is building new development Lansdowne House just six minutes’ walk from the station, with studios and one and two bedroom apartments aimed at young professionals. Shanly Homes’ Nigel Sawers, says that Slough has always had potential, thanks to its transport links and location in the Thames Valley, but it’s been overlooked as ‘simply an industrial town’. “Investment in the town centre is helping to give Slough a new identity as a commercial hub, where people want to work, socialise and live.”

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CROSSRAIL WHO’S BUYING ALONG THE CROSSRAIL ROUTE?

PETRA BOUGHT IN WOOLWICH First time buyer Petra Wostefeld was able get on to the property ladder at Drummond House, Notting Hill Sales’ development in Royal Arsenal Riverside, thanks to shared ownership. Victoriabased PA Petra explains, “I’d been happy renting in Peckham for several years, as back home in Germany it’s a more common tenure, so I’d not always planned to buy. I was aware, however, especially in London’s rental market, how quickly things can change, so I made the decision to buy.” Petra bought a 30% share of her apartment, which was £410,000 at full market value. “Although my total monthly costs, including rent, mortgage payments, service charge and bills, come to slightly more than I was paying in rent, what I get for that money far outweighs any extra expenditure.” Crossrail was a big factor for Petra and she added, “A big draw was the transport links. I always get a train seat as it is the first stop on the DLR, and I even hopped on the Thames Clipper the other day, so I have various commuting options, even more so with Crossrail coming soon. Royal Arsenal Riverside has so much going on, it’s really exciting to be living within a big regeneration scheme and be part of its continued development.”

ON THE MARKET

BRENTWOOD

FROM £249,995

Evoke

Apartments and coach houses have a high specification and include quality fixtures and fittings. Many apartments benefit from balconies and many homes will incorporate open-plan living spaces. All properties enjoy allocated parking. bellway.co.uk 01245 259 989

nhillsales.com JOHAN BOUGHT IN CANNING TOWN, NEAR CUSTOM HOUSE Johan Harmse was worried that he’d never get on the property ladder, but when he found that shared ownership was available at Rathbone Market in Canning Town E16, he decided to go for it, especially as nearby Custom House will soon be home to a Crossrail station. “Rathbone Market was the first development I looked at,” explains Johan, “it has a superb finish, is in a great area and has excellent transport links, so it ticked all the boxes. With Crossrail coming nearby at Custom House, and so much regeneration going on around Canning Town and Stratford, I knew it would be a great future investment too. I registered my interest straight away, as I guessed it might be popular” Johan, 31, bought a 40% share in his £350,000 apartment and he says that Notting Hill Sales made the purchase ‘seamless’. “They provided me with contacts for a mortgage broker, who found me a good deal, and recommended a solicitor, which saved me a lot of hassle. I’m paying more than when I was renting, but I know that this is mine and that 40% of that money is being invested in my future. I plan to staircase eventually, too, as I would love to own my apartment outright.”

TOWER HILL

FROM £234,995

Belvedere

The last release of homes available at Tower hill will consist of two and three bedroom houses, with guide prices starting from £234,995. barratthomes.co.uk 0844 470 0556

nhillsales.com MATT AND ALICE BOUGHT AT KENNET ISLAND, NEAR READING Matthew Conner, 26, from Hungerford, Berkshire, and girlfriend Alice Mills, 26, moved back home to save the deposit needed for their two bedroom apartment at Kennet Island, a Berkeley Homes scheme near the proposed Crossrail line. Matt explains, “We wanted to live together in our first property bought as partners, but were willing to live apart shortterm, so we could save up the money needed for our deposit. We chose Reading as it seemed to fit our needs perfectly, plus it offers a quick commute into central London.” The couple bought off-plan and paid £245,000 for their two bed home, but Alice thinks their apartment will rise in value thanks to Crossrail, “The development provides a high standard of living and excellent value for money, plus with the impending Crossrail line proposed for 2019, we consider our apartment to be a solid financial investment.”

WEST DRAYTON

kennetisland.co.uk

padcroft.co.uk 020 3553 9287

FROM £395,000

Padcroft

There will be 262 studios, one, two and three bedroom apartments, which are being constructed alongside a small business centre, with car parking and a central landscaped public piazza. Two bedroom apartments are priced from £395,000.

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CROSSRAIL

READING

FROM £258,000

Kennet Island

WEST DRAYTON

FROM £274,995

Drayton Wharf

Brook Drive is the latest collection of just 21 one and two bedroom apartments available at Kennet Island. Prices start from £258,000 for a one bedroom apartment, with selected properties available to buy under the Help to Buy scheme.

The Drayton Wharf development offers 51 one and two bedroom apartments built by Howarth Homes, in the heart of West Drayton. Set on the banks of the Grand Union Canal, many of the homes enjoy waterside views. The final apartments have direct access on to the communal roof garden and come with their own parking space.

kennetisland.co.uk 01189 313 550 howarthhomes.co.uk 01895 233 999

SLOUGH

FROM £340,000

Trinity

SLOUGH

FROM £225,000

Lansdowne House

Launching this spring, 114 apartments are being built across three villas on the Windsor Road – the gateway to Slough. Two bedroom apartments are priced from £340,000.

Just six minutes’ walk from the station, studios, one and two bedroom apartments at Lansdowne House are aimed at young professionals. sales@paradigmland.co.uk 020 3143 4814

shanlyhomes.com 01494 685 825

FROM £320,000

WOOLWICH

Royal Arsenal Riverside First time buyers can get a foot on the property ladder through the Discount Market Sale scheme, which offers those who live or work in the Royal Borough of Greenwich the chance to buy at 20% below the open market value. There are15 one bedroom apartments and 10 two bedroom homes in the Kinetic building at Cannon Square, starting at £320,000. Applicants must earn a gross annual income of no more than £90,000 and must not have previously owned a home. royalarsenalriverside.com 020 8331 7130

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CYBERCRIME

Buyer Beware! Number of conveyancing fraud cases reported between April 2014 and December 2016. MONTH YEAR

REPORTS

April 2014

May 2014

June 2014

July 2014

August 2014

September 2014

October 2014

November 2014

December 2014

January 2015

February 2015

March 2015

April 2015

May 2015

June 2015

July 2015

August 2015

September 2015

October 2015

November 2015

December 2015

January 2016

February 2016

March 2016

April 2016

May 2016

June 2016

July 2016

August 2016

September 2016

October 2016 November 2016 December 2016 TOTAL

9 16 10 270

Source: City of London Police

How would you cope if fraudsters made off with your house deposit? Kay Hill looks at cybercrime and how not to be a victim When cybercrime first emerged as a threat, it was generally only the seriously gullible who fell for emailed tales of Nigerian princes, mystery inheritances and lovelorn Russian beauties. As technology has progressed, however, so has the sophistication of the fraudsters and, sometimes, it’s now impossible to tell truth from the alternative facts arriving in your inbox. The scale of the problem is huge, admits the government-backed cyber safety initiative Get Safe Online. Official figures state that online fraudsters stole £10.9bn in the UK last year – equivalent to a £210 loss for every person in the UK over the age of 16. But that relates to crimes that were actually reported to Action Fraud, the national cybercrime and fraud reporting service. Get Safe Online’s research polls suggest that 39% of those who have been a victim of cybercrime never bother to report it, so the true loss is much greater. Partly, this often stems from the embarrassment the victims feel. People generally don’t feel guilty if they are mugged in the street or burgled, but victims of cybercrime are often made to feel foolish, or gullible (despite the fact that, according to the Office of National Statistics, individuals in managerial and professional

occupations are more likely to be a victim of this kind of fraud). In addition, unlike a mugging, or burglary, local police won’t help – all cybercrimes have to be reported instead to Action Fraud, where, it seems, only the largest multiple frauds are ever investigated and the chances of getting your money back are very small indeed. Fraudsters are obviously seeking the maximum returns, so house purchases are like a gold mine – not only are people handling large amounts of money, but they are often extremely stressed and under time pressure, so more vulnerable to making a mistake. Add in the fact that many younger people are more confident doing business by email, than ‘old-fashioned’ methods like face-to-face or via telephone, and you have a perfect storm of risk. The biggest threat to house buyers is known as conveyancing fraud, or deposit redirection fraud, which takes place by hackers intercepting emails between buyers and their solicitor. So, a buyer might receive a last-minute email with a change of banking details for the deposit (plausibly explained away by tales of audits and frozen accounts and backed up with the threat that any delay could make the purchase fall through). After the buyer has made the

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CYBERCRIME deposit, they will receive another email telling them that everything is fine (usually late on a Friday afternoon) and it will only be on Monday, when the solicitor asks them again for the deposit, that they will realise what has happened. By that time, the money has usually been withdrawn, the receiving account closed and the criminals long gone. Because either the buyer or the solicitor’s computer and email accounts have been compromised (perhaps by breaking into a Wi-Fi network), email addresses will be correct so there will be no obvious reason to be suspicious. Action Fraud recorded 186 cases of buyer deposit redirection fraud between the beginning of 2013 and March last year, in which a total of £19,080,670 was lost to criminals, an average loss per victim of £102,584. House sellers can be victims too; in some cases, hackers have emailed solicitors asking for the purchase proceeds to be sent to a different bank account than previously notified, although in these cases, solicitor’s insurance is more likely to compensate victims. It’s not just during the purchase process that first time buyers are vulnerable. The poor interest rates on deposits also make desperate savers more likely to fall for get-rich-quick scams. The Financial Conduct Authority warns of several traps for the unwary saver:  Dodgy shares – victims are cold-called by boiler-room stockbrokers, who use high-pressure sales techniques to get people to invest in high-risk, virtually worthless penny stocks.  Rare minerals – investors are persuaded to buy elements such as dysprosium, or graphene. They may never receive what they bought, or find that they are unable to sell it at all, let alone at a profit.  Binary options – sold as a quick and simple investment, promising returns of up to 90%, binary options trading involves betting on whether the price of certain commodities will rise or fall over a specific time period. It is unregulated by the FCA as it is classed as gambling, and critics say that as few as 3% of investors make any profit, while threequarters lose all their capital. Mark Steward, Director of Enforcement at the FCA, gives the following advice, “Making a significant financial investment is an important decision, so be prudent, do your homework and be especially on guard if contacted out of the blue by someone you don’t know. No investment decision should be rushed. Be sceptical. Be suspicious. Ask questions and get answers you can verify. Remember, if you receive a call about an investment opportunity that sounds too good to be true, then it probably is.”

T O P T I P S T O S TAY S A F E

 Use a different password for every website, especially email and banking applications (the Government recommends using three random words as an effective password). Change them regularly, especially after any security warnings. Password or fingerprint-protect your tablet and phone.  Avoid talking on social media about house purchasing, or other big financial activity. Keep your privacy settings tight and make the most of extra layers of security, such as Login Alerts and Login Approvals on Facebook that make it much harder for hackers to gain access.  Ensure you have effective antivirus/antispyware software and firewall running, whenever your computer or mobile device is switched on, and download updates to your programs and apps when prompted to do so, as they often include security fixes.  Be very cautious about emails that ask you to send sensitive information, or click through to pages online. If emails seem to be from places you shop, such as Amazon or eBay, or financial sites like PayPal, or your bank, don’t follow the link in the email but go independently via your browser to check the truth of the message. And if you receive a phone call purporting to be from your bank, never give a full password, or card details.  When dealing with a house purchase, where possible, deal with your solicitor face-to-face, by post, or via a phone call with someone who you know. Establish the solicitor’s bank details early on and never accept late changes to these unless communicated face-to-face.  When it comes to savings and investments, if it seems too good to be true, then trust your instincts and stay away, or at the very least check it out independently, or via a financial adviser, before investing. High returns are only ever won by taking high risks with your capital.

THE VICTIMS

The problem of conveyance fraud is growing, with around two frauds a week being reported, with an average loss of £112,000. Behind every one is a tale of heartbreak:  First time buyer Howard Mollett was tricked into paying £74,000 to a fraudster, thinking he was transferring the deposit for a flat in Brixton to his solicitor. He was away in the US when the deposit money was needed and, after problems with the first transfer, he had emailed his solicitor for advice. That email was intercepted by a fraudster who sent an email back, apparently from the solicitor, changing bank account details. Only £10,000 was ever recovered.  Dr Ellen Wright transferred £137,000 to fraudsters when she received a similar email purporting to be from her solicitor changing bank account details. She only knew of the fraud when she went to pick up the keys of the east London flat she thought she had bought. Only £7,000 was ever recovered.  Newlyweds Sarah and Ritchie Tough lost more than half of a £45,000 deposit that had taken them a decade to save, sending it to fraudsters instead of to their solicitor to pay for the deposit on their first home in Bishops Stortford. Sarah received an email from the solicitor’s address on a Friday asking her to pay the funds into a different account as the usual account “was being audited”. They only realised the deception on the Monday, by which time more than half of the money had been withdrawn, although £22,000 was eventually recovered.  Kate Blakeley and her partner Marco Faes diverted £299,000 to fraudsters when buying their first home together in Beaconsfield, Buckinghamshire. Again, they were told that an account was being audited so they needed to use different bank account details, and the fraudster even knew their unique solicitor’s customer number, which convinced them it was genuine. All of the money was eventually recovered, although it cost the couple £24,000 in legal fees.

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The ftb guide to r e d d la e th n o g n i tt e g If you are struggling to buy your first home and are getting confused by how the process works, then this simple guide, with everything you need to know about homeownership, should answer all your questions SAVING FOR A DEPOSIT

FINDING THE RIGHT FIRST HOME

If you really want to get on the ladder, then it’s time to save, save, save. Set yourself a realistic goal of how much you can afford to save each month and go through your finances to work out what money goes in and what goes out. You might find you can save some money by looking at your expenditure and cutting back. Take a packed lunch to work, cut out takeaway coffees and ask yourself if you need that costly gym membership?

When looking for your first home there are many things you need to consider. Firstly you should think about whether you want a new build or an older property. New builds will be cheaper to run, heat and maintain and will come with a 10 year NHBC warranty that protects against structural defects and some types of damage. On the downside, with many new builds there will be a service charge and if it is an apartment there will be ground rent to pay as well. On the other hand older properties will have more character and you may get a bargain if you buy somewhere that needs renovation.

TOP TIP Keep a diary of everything you spend and see where you can make savings.

GETTING A MORTGAGE Choosing a mortgage is one of the most difficult decisions in the homebuying process. Do your homework, or get a financial adviser, who will help you make an informed decision and find a competitive deal. Mortgage lenders use an overall affordability calculator to see how much they can lend – they will require around six months worth of bank statements and three months salary slips. If you are self employed, you will need an SA302 form, or accounts for at least one year, but most lenders will require two, or even three years. There are different mortgages to choose from:  Fixed rate mortgages are very popular and you can fix your repayments for two, five, seven, or sometimes 10 years. This mortgage gives peace of mind, as you will know exactly how much you will be paying each month and can budget accordingly.  With tracker mortgages, the rate rises and falls, in line with interest rates set by the Bank of England. Currently the interest rate is very low, but there is always a risk that rates will increase and, therefore, so will your repayments. TOP TIP The bigger the deposit the lower the interest rates, so it pays to save as much as you can.

TOP TIP Ask lots of questions - for example how far is the property from public transport?

MAKING AN OFFER If your mortgage lender has given you an agreement in principal, you will find you are in a very strong position as it means you have your finances sorted and they are happy to lend to you. You will also need a conveyancer to deal with the legal side of buying the home; make sure they are members of the Law Society (lawsociety.org.uk) and also of the Council for Licensed Conveyancers (conveyancer.org.uk). When you have an offer accepted, you cannot be 100% sure the sale will go through until you exchange contracts – this means you are legally obliged to purchase the property. Completion can go ahead when the money is ready from the lender and your stamp duty and any other outstanding costs are paid. When your offer has been accepted the bank or building society will arrange a valuation to ensure the property is worth what they are lending you. You will need to appoint a surveyor if you are buying an older property as they will highlight any serious problems. TOP TIP Lenders sometimes offer the option of a survey as part of a package with a valuation report. You don’t have to take up this option but it might work out cheaper in the long run.

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WHAT ARE THE COSTS?

GOVERNMENT INCENTIVES TO HELP FIRST TIME BUYERS

Stamp duty is one of the most expensive costs there is when buying a home. There is nothing to pay on homes below £125,000, 2% between £125,000 and £250,000 and 5% on the value of a property above £250,000. As well as this, you will need to get buildings insurance, which will cover the structure of the property as well as the permanent fixtures and fittings. The mortgage company will want to see evidence of buildings insurance from the day of completion. You will also need contents insurance, which covers your belongings inside your home. Every policy will have limits of what you can claim, so you need to make sure you are covered for the full cost of replacing the items you own.

SHARED OWNERSHIP You buy a percentage of the home from a housing association, which is usually between 25-75% depending on what you can afford. The percentage that is bought is treated like a regular sale, where the buyer puts down a deposit and takes out a mortgage on the share they own. You pay a subsidised rent to the housing association on the part you don’t own. After a year, you are eligible to buy more shares, either purchasing the entire remaining portion, or in smaller chunks over several years – this is called staircasing.

HELP TO BUY With Help to Buy, the Government lends buyers up to 20% of the cost of a newbuild home outside London and 40% in London (Help to Buy London), known as a Help to Buy Equity Loan. This means buyers only need a 5% deposit and a 75% loan-to-value mortgage or, in London, a 55% loan-to-value mortgage. Buyers are not charged interest on the equity loan for the first five years of owning their home.

TOP TIP It is often cheaper to get buildings and contents insurance from the same insurer, but make sure the cover you get is enough if you need to make a claim.

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Andrea Jilkova, 32, bought a ground floor apartment at Prime Place, Godalming, which cost £275,000. Using Help to Buy, she only needed a 5% deposit of £13,750, which she funded from savings she had accumulated over the past three years. The scheme provided a 20% government loan of £55,000 – which is interest free for five years – and Andrea has taken out a mortgage to cover the balance. She said, “I’m at a stage in life where I want to stop paying into other people’s pockets and to start paying for a place of my own. I’m self-employed, which can make it tricky to borrow money from the bank, so it was fantastic to receive such a large loan. Without the loan and only needing a 5% deposit, I’d never have been able to afford to buy a home, particularly in such an amazing town centre location. What’s more, my mortgage will cost around £100 less each month than I currently pay in rent for sharing a two bedroom flat in Guildford.” primeplace.co.uk/our-developments/prime-placegodalming

CA S E S T U DY

First time buyer David Cerqueira,, 27, has saved hundreds on rent by becoming a homeowner in zone 1. After spending over £15,000 a year renting outside central London, David began to feel like he was squandering his money, so he decided it was time to get on the property ladder and use his money to invest in his future. He was astounded by the savings he made. David purchased a 45% share in a one bedroom apartment at Peabody’s Aldgate development, The Cavallo. He said, “My girlfriend, Carla and I viewed the apartment at The Cavallo and knew we had to have it the minute we walked in. It is on the seventh floor with a beautiful view of the city.” Like many others, David was worried that the price he would have to pay on a new home would be far higher than the £1,400 he spent monthly on rent and that his income would not be able to support the move. He added, “It was hard to find a place with our financial situation, but shared ownership made it easy and worked for us. We put down a 5% deposit on a 45% share and are paying rent on the remaining amount, which works out at a saving of £200 a month. Our outgoings are now less than when we were renting and we have begun to build some long-term equity by purchasing. I also had travel costs on top of rent, but now I have the luxury of being able to walk to work, which is saving both time and money. What set The Cavallo apart from other developments I had seen was how well equipped it was. Little things like the walkin wardrobes and the balcony were designed to maximise space and fit in with the overall design of the apartment. The development is really close to my workplace, but it is also a short journey to Shoreditch, so is in the perfect location from a social aspect too. There’s lots of independent shops, cafes and bars close to home and I even go running through the city on Sundays now.” All apartments at The Cavallo have now been sold, but to see further shared ownership schemes from Peabody, visit peabodysales.co.uk

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HOMES TO CONSIDER FROM £363,000

GREENWICH Precision

Available with Weston Homes First-Time SecureBuy Once complete, this development will be home to 272 one, two and three bedroom apartments, duplexes and townhouses, set across five buildings, all surrounded by landscaped grounds. The historic telegraph works site is situated on the Greenwich Peninsula, a key regeneration, growth and new-home zone along the banks of the Thames. The area has become a real hotspot in recent years, thanks to its easy transport links via North Greenwich underground station (Jubilee line, zone 2/3), where you can be in Canary Wharf in less than 10 minutes. Apartments at Precision come with high-specification interiors, with engineered oak flooring and luxury carpeting throughout. Kitchens feature stone worktops, inbuilt Zanussi appliances and Fascino instant boiling water taps. Precision is located in between the genteel charm of world-heritage site Greenwich Village and the O2 arena – where you will find a cinema, bowling alley, music venues and a selection of restaurants, bars and nightclubs. weston-homes.com/precision

WOOLWICH

FROM £360,000

Trinity Walk

Help to Buy London is available Trinity Walk is a contemporary collection of apartments and townhouses by Lovell Homes, just a mile from the new Crossrail station in Woolwich, southeast London. These new homes are part of the exciting £400million Trinity Woolwich regeneration scheme. The development offers one, two and three bedroom apartments, alongside a collection of three and four bedroom townhouses. The ongoing regeneration in Woolwich has already seen the delivery of new green areas, office spaces and amenities, and the arrival of Crossrail in 2018 will provide quicker journeys into the centre of London. With 12 services an hour, passengers from Woolwich will be able to reach Canary Wharf in eight minutes, Liverpool Street in 14 minutes and Bond Street in just 22 minutes. Prices start from £360,000 for a one bedroom apartment.

CHISWICK

FROM £159,000*

Chiswick Gate

Chiswick Gate offers 51 one, two and three bedroom apartments, available to purchase through shared ownership. The apartments are set within modern warehouse-inspired buildings that are arranged around pretty, landscaped, communal gardens. Elegant and stylish in design, many apartments offer a balcony, while inside, the fully-integrated kitchens include a fridge/freezer, dishwasher, and washer/dryer. Residents also benefit from a dedicated underground car parking space and a bicycle store. A 30% share of a one bedroom apartment is £159,000 with a full market price of £530,000. tvhsales.co.uk/schemes/chiswickgate

trinitywalk-woolwich.com *Based on a 30% share with a full market value of £530,000

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BEDFORD

De Montfort Place

FROM Help to Buy is available £185,000 De Montfort Place from Storey Homes comprises 152 contemporary homes, ranging from one bedroom apartments to five bedroom houses. Building work began six months ago and five houses and 25 apartments are now available to buy off-plan, with Help to Buy available on selected plots. The development is located in tranquil, tree-lined streets with a landscaped communal garden. All apartments benefit from a high specification throughout, open-plan kitchen/diners, separate utility cupboards and allocated parking. A typical two bedroom apartment in Harborough House includes a large open-plan sitting area with bay windows, an en suite to the master bedroom and a family bathroom. The outstanding four and five bedroom homes are great for families, offering plenty of space inside and out, with parking spaces for two cars outside. The sought-after town of Bedford offers an extensive range of retail and leisure facilities, including three speciality markets. It is renowned for having one of the finest riverside settings, too, where residents will be able to enjoy panoramic views of the river Great Ouse, or picnic in one of the many parks and green spaces. De Montfort also has excellent access to transport links to London with Bedford train station only 11 minutes’ walk away. The train services run regularly into London St Pancras offering direct connections with a journey time of only 50 minutes. Prices start at £185,000 for a one bedroom apartment or £215,000 for a two bedroom apartment. The Melton, a four bedroom semi-detached house is available from £475,000. storey-homes.co.uk

HYTHE, KENT

FROM £244,995

The Barwick, Martello Lakes

ENFIELD

FROM £186,000*

Wells Mews at ASPIRE

Help to Buy is available Barratt Homes has a selection of three bedroom homes available at its Martello Lakes development in Hythe – which offers 190 two to four bedroom family homes. The Barwick is a three bedroom home that features versatile accommodation, including a large open-plan living/ dining area, separate kitchen and downstairs WC. Upstairs,there are two large double bedrooms (one with an en suite bathroom), a single bedroom and a family bathroom. The Barwick is available with prices starting from £244,995. With Help to Buy, buyers will need a deposit of just £12,250. The properties feature a modern specification and environmentally and economically-friendly features including high levels of insulation, energyefficient boilers and bee-friendly planting in the garden. When complete, the development will offer a variety of water sports, with pleasure and biodiversity lakes planned.

Notting Hill Sales’ new development, ASPIRE in Arnos Grove, Enfield, is now offering shared ownership options, helping families and young professionals on to the property ladder. ASPIRE offers 14 three bedroom townhouses, designed with families in mind. Three-storey layouts provide all the features needed for modern living, plus there is access to parking and cycle storage. The ground floor is home to a spacious open-plan living/dining area, with a fully-fitted kitchen featuring a range of built-in Lamona appliances, including ceramic hob and fridge/freezer. On the first floor, two bedrooms, one with private balcony, have access to a family bathroom. The top floor is devoted to the master bedroom, with en-suite shower room and a private terrace. The underground from Arnos Grove is just 0.3 miles away, while New Southgate and Bowes Park stations on the London Overground are also close by. nottinghillhousing.org.uk

barratthomes.co.uk *Based on a 30% share with a full market value of £620,000

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HOTspot

FAC T F I L E

Average property price (November 2016) – £301,009 Property breakdown* (Slough) Detached – £559,181 Semi-detached – £401,623 Terraced – £315,154 Flat – £226,740 *According to the UK House Price Index, December 2016

Slough – On the up!

S O M E FA M O U S RESIDENTS

Just 20 miles from London and due for the Crossrail treatment in 2019, the Berkshire town of Slough is the perfect spot for first time buyers looking for a home that ticks all the boxes Slough is a town on an upward trajectory. Though it’s fair to say its reputation has suffered in the past (thanks in part to its starring role as a dreary backdrop in hit sitcom The Office), the Berkshire town is finally having the last laugh. Just 20 miles from London, Slough is perfect for commuters and, with the Crossrail arriving in 2019, it has been identified as an up-and-coming destination for first time buyers and investors alike. But there’s more to Slough than good commuting. The town centre is undergoing a £290m regeneration programme, which has already delivered a new state-of-the art library and cultural centre, The Curve, and continues to create new homes, shops and leisure facilities. It is also an important business hub; many global tech and creative businesses sport a Slough address and it was recently declared as the country’s second start-up capital outside of London. What’s more, Slough has the beautiful Berkshire countryside on its doorstep, with pretty villages and sprawling country parks within easy reach.

HOMES AND RESIDENTS In and around Slough’s town centre, you’ll find a wide variety of house styles.

Everything from 1920s semi's, bungalows, pretty Victorian terraces and 1990s apartment blocks can be found in the area. And, with fresh interest and investment, thousands of new homes have been and continue to be created. This includes several attractive newbuild developments close to the rail station. As you start to head out of town and into the more rural areas, you’ll find some stunning, larger detached properties and mansion-block apartments, as well as some well-known faces residing in the likes of Bray and Burnham. With some big employers in the area and new businesses arriving, Slough boasts a growing and healthy economy, and its residents earn a higher than average wage. The population is young and dynamic, with a significantly younger than average resident living here than elsewhere in the south east. It is also one of the most ethnically diverse areas outside of London.

OUT AND ABOUT Foodies will be spoilt for choice when heading out for dinner in Slough and the surrounding areas. In the town centre, choose from high-street staples such as Pizza Express, enjoy quality Thai at the Rising Sun, or Afghani fare at the Kabul

• Musician Gary Numan • Comedian Tracey Ullman • Comedian Jimmy Carr • Spice Girl Geri Horner • Engineer Isambard Kingdom Brunel

Palace. In Burnham, Tummies is highly rated by locals and serves a delicious menu of modern European healthy and more indulgent meals. Those seeking a more refined outing won’t be disappointed. Two of the country’s most applauded restaurants lie just a few miles west, in Bray. Michel Roux’s threeMichelin-starred Waterside Inn, as well as Heston Blumenthal’s’ Fat Duck – once hailed as the best restaurant in the world – are a mere 15-minute drive from Slough. There are also a great deal of fantastic country pubs just waiting to be discovered as you enjoy the Berkshire countryside and small, charming villages. When it comes to investigating the beauty of the local area, the only problem is deciding in which direction to head. Slough borders Black Park Country Park, which forms part of an almost 30,000-acre space that’s perfect for walks, bike rides and family outings. Those with a head for heights will enjoy taking part in the Go Ape course that’s located here, while the kids will love the popular adventure playground. Head north, and you’ll hit the Chiltern Hills, a stunning area of natural beauty dotted with beautiful country pubs and farm shops, and a perfect place to while away entire weekends. For a special Lewisham Market

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LOCATION

treat, visit the Chiltern Valley Winery and then stay at The Crown at Radnage, a cosy pub with bed and breakfast nestled in a pretty Chilterns village. Away from the sweeping hills, there are plenty of options for evening entertainment. For film, visit the Empire cinema in the town centre, see quality local bands at one of the many pub venues in Slough, Burnham and Eton, or visit the Theatre Royal in Windsor, which runs a busy schedule of plays and musicals.

SHOPPING Slough’s tidy town centre is great for shopping. Its pedestrianised high street features all the big-name shops you’d

expect to see, including plenty of places to stop for a coffee. The Queensmere Observatory shopping centre, with its entrance on the high street, is home to 120 shops and restaurants, including a huge M&S, supermarkets and a gym. Some great shopping opportunities can also be found in the surrounding areas; nearby Windsor has a picturesque town centre as well as a popular open-air shopping mall. There are also several farmers markets in the area – try Eton Farmers Market for a variety of fresh produce from local producers and makers. Not forgetting, of course, that the city of Reading is just a 15-minute train ride or short drive away, and has a huge range of high street and independent shops.

Slough has several rail stations – Iver, Langley, Slough and Burnham – from which travel times into London Paddington take as little as 15 minutes. Although transport into the city is already great, things are set to get even better with the arrival of the Crossrail in 2019, which will enable direct travel from all four stations to central and east London as well as further east to Essex and Kent. Slough’s location also makes it very easy to access the South West and beyond. Travel to Bristol by train, or road takes just over 90 minutes – with the nearby M4 providing a direct route to the city. The local area is also served by a bus network, connecting the locales of Burnham, Eton and Dachet with the town centre, while international travel is a breeze, thanks to Heathrow being a mere 15-minute drive away.

Photo © Julie Kertesz/Flikr

TRANSPORT

5 REASONS WE LOVE… …SLOUGH 1. Black Park Country Park 2. Young, vibrant population 3. Short commutes into London 4. Beautiful Berkshire countryside 5. New homes and businesses

HOMES on offer in the area… SLOUGH

SLOUGH

Trinity

BRACKNELL

Crossways

FROM £340,000

The Fitzroy Collection

FROM £319,995

FROM £275,950

This attractive new collection of one, two and three bedroom homes occupies a prime position in Slough, just a few minutes’ walk from the town centre and under a mile from the rail station for speedy services to London. The contemporary homes are finished to a high standard, with a private balcony or terrace, fitted kitchen with integrated appliances and en suite to the master bedroom in the larger homes. Residents also benefit from private allocated parking. There’s plenty to do locally, while a 30-minute walk will land you at the River Thames.

Just a few homes remain at this popular development, just moments from the town centre. The two bedroom homes available are well sized, with open-plan living/dining areas featuring a fitted kitchen and opening to a private balcony, an en suite from the master bedroom and hallway storage cupboards. Underground, gated parking is also available. Crossways is ideally located for enjoying the rapidly regenerating town as well as for travel into London or Reading, both of which take just 15 minutes by train from nearby Slough station.

Located 10 miles south of Slough and just over 10 miles east of Reading, Bracknell is a popular choice for first time buyers. The town centre is currently undergoing great transformation and is set to become a top destination for shoppers and diners. The new homes at the Fitzroy Collection range from one to three bedrooms and feature private gardens or balconies, high-quality fixtures and fittings and at least one private parking space. Bracknell rail station is close by, for services into Waterloo in around 20 minutes.

shanlyhomes.com

bellway.co.uk

hodsondevelopments.com

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AFFORDABLE HOMES

FIRST TIME BUYERS EYE UP STRATFORD BROADWAY The average shared ownership buyer is just 25 years old, compared with first time buyers in the wider market who are typically aged 33, according to a recent report from JLL¹ Affordable housing provider East Thames is helping meet this demand from a generation of people otherwise stranded in the rental sector, with the recent launch of its Stratford Broadway development of 35 shared ownership homes in Stratford, east London. Young professionals, keen to get a foot on the housing ladder at a price they can afford, are able to buy a 30% share in a one bedroom apartment at Stratford Broadway for just £112,500. This requires a minimum household income of £47,212, with a deposit of just £11,250. The shared ownership scheme allows purchasers to buy a share in their home and pay a subsidised rent to East Thames on the remaining share of the property. They can buy additional shares at any time, up to the value of 100%, allowing them to increase the proportion of the property they own whenever it suits them. Tony Harker, Director of Sales & Marketing at East Thames comments, “Shared ownership has a vital role to play in our capital’s housing market, offering one of the few remaining routes into home ownership for first time buyers. Purchasers at Stratford Broadway can enjoy a buzzing central London location, excellent transport links and world-class shopping on their doorstep, for less than they would typically pay in rent. After a successful launch, 50% of the homes are under offer, so we recommend that potential purchasers act fast in order to avoid disappointment.” Located in the heart of Stratford, the development comprises 35 highspecification homes, with open-plan living and dining spaces, private balconies and floor-to-ceiling windows that flood the apartments with natural light. Contemporary kitchens are fitted with Symphony New York handleless, highgloss white units, Silestone worktops and integrated Electrolux appliances. Bathrooms offer white sanitaryware, latte feature wall tiles and ivory matt floor tiles, with large fitted wardrobes in the master bedroom offering plenty of storage space. Residents also have access to a communal rooftop terrace, as well as a private gym at the adjacent Stratosphere Tower, which is linked via a striking glazed concierge area.

Transport links are second to none, with Stratford bus and train station situated opposite the development and Stratford International Station within easy reach, connecting residents to the West End, City and Canary Wharf. Westfield Stratford City is also on the doorstep, offering a selection of some of London’s best retail facilities, bars and restaurants.

One bedroom apartments at Stratford Broadway are available from £112,500 for a 30% share. For more information please call 0300 303 7333, or visit east-thames.co.uk 1 http://residential.jll.co.uk/new-residential-thinking-home/ research/shared-ownership-time-is-now-January-2017

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AFFORDABLE HOMES

HOT NEW HOMES IN HARROW

With data showing that average property prices in Harrow are set to exceed £500,000 by December 2018, this sought-after property hotspot is on the up, offering a thriving community for young people and families

Delivering suburban living in a convenient Zone 5 location, Origin Housing is pleased to announce that Townsend and Eaton House, Northolt Road, Harrow, will be launching in 2018. Transforming a previously underused site into 116 apartments, in a development designed by award-winning architects, the striking scheme will feature straight, clean lines and inset glass balconies, with upper floors including duplex penthouses. A proportion of homes at Townsend and Eaton House will be available to first time buyers through Origin’s shared ownership scheme, allowing those unable to save for a large deposit to purchase just a share of their new home, and then staircase up. Harrow locals can enjoy two shopping centres – St Ann’s and St George’s, which house all of the big high street names, as well as popular restaurant chains such as

Prezzo, Nando’s and Pizza Express, and a nine-screen Vue cinema. Additionally, a Debenhams department store sits out on Station Road, which also plays host to several highly-recommended Asian cuisine restaurants. Famed for the independent boys’ school and picturesque feel, Harrow-onthe-Hill boasts some of north London’s most stunning green and leafy spaces. The surrounding village has been described as ‘caught in a time warp’, as it offers locals a preservation of rural English life within a short walk of the modern town centre. A highlight is the high street, which features the area’s best independent restaurants, cafes and delis. This balance attracts young families as well as young professionals – as does the impressive choice of both private and state schools in the area. Connected to national rail services as

well as Underground and Overground, Harrow is more than convenient for commuters. Harrow-on-the-Hill station offers a 20-minute ride to Baker Street on the Metropolitan line, while those heading to Paddington can get there in just half an hour on the Bakerloo line from Harrow & Wealdstone station, or Euston by National Rail in just 14 minutes. The area is also well-serviced by local buses, ideal for young parents with pushchairs, or those commuting around northwest London. Elsewhere in the borough, Origin is also developing the former Cumberland Hotel site, which will comprise two buildings adjacent to a newly created public piazza, offering a large number of homes with generous public and private amenity space. For further information about Origin Housing’s shared ownership homes, visit originsales.co.uk

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AFFORDABLE HOMES

AFFORDABLE FAMILY LIVING

Shared ownership makes buying a home more accessible, not through the lending of more money, like in other Help to Buy schemes, but by allowing the buyer to borrow less. Because of this, it is often the best route for first time buyer families looking to get a step on the property ladder. Kush Rawal, sales and marketing director at Thames Valley Housing, gives us his best tips for families looking to purchase their first home through shared ownership CA S E S T U DY

CONSIDER THE LOCATION “It’s worth keeping your mind open to towns or villages you may have already disregarded as unaffordable, as through shared ownership, these locations become more accessible because you are purchasing only a share of a property. “The homes listed for sale through our website can be narrowed down geographically, so you’re likely to find a shared ownership property within range and in your budget. It’s important to note that if you are applying for a home outside of a London borough, you will need to apply to your local Help to Buy agent first, as we will only accept an application for shared ownership once we have received an approved registration.”

CONSIDER THE SHARE

When they decided to move in together after just a few months as a couple, Charles Barker and Hannah Pennell looked at only one home before making an offer. Clearly a couple who make their minds up quickly, Charles and Hannah were not only looking for an affordable home that provided enough space for them and Hannah’s daughter Layla, but a scheme that offered ease and clarity throughout the process. They found the Foresta development in Horley, Surrey, on Thames Valley Housing’s website and, after checking out the location, registered their interest in buying a shared ownership home. “We chose our home the first time we drove past the development, when it was still a construction site. The house is semi-detached and has a southfacing garden, which we really like. We had our heart set on it from the beginning,” says Charles. Charles and Hannah bought a 50% share of the two bedroom house through the scheme at just over £160,000. They paid a 15% deposit of around £24,000, and their monthly mortgage payments are about £450, with remaining rent payments at approximately £370. The couple received some money as a gift from family to help with costs, and Charles had been able to save money by living at home with his family in Redhill while Hannah and Layla lived in a rented flat in nearby Horley. Despite their speedy decision making, choosing the right home was very important for the couple. “We needed a home in the right location, with the right level of space for the three of us. Layla loves her new home, especially the garden, which she and Hannah didn’t have in their previous flat. The development is a quiet and safe cul-de-sac where Layla can ride her bike with the other children and enjoy being outdoors.” Charles is also feeling very positive about their move, “My lifestyle has definitely changed, having moved from the family home to one I partly own. I feel more independent, freer and very settled,” he says. Foresta is now all sold, however, Thames Valley Housing offers shared ownership on a selection of homes across London and the South East. For more information go to tvhsales.co.uk, or call 0208 607 0550

“With shared ownership, you’ll only need to put down a 5% deposit on the share available, keeping costs lower and potentially increasing your chances of securing a mortgage. Most of our shared owners start buying a share of between 25% and 75% of the total value of the home, and purchase more shares when they are able to (a process known as staircasing). The remainder is owned by the housing association, and you’ll pay a subsidised rent on this share. “As more shares are bought and ownership is increased, the rental payment will reduce. Normally, the minimum you are able to buy is 10% but, each time you do so, you need to pay a solicitor, pay for a valuation, perhaps Stamp Duty – and you have to find the extra money from somewhere. “At Thames Valley Housing, we understand that many of our homeowners, especially families, want more flexibility, so we introduced shared ownership PLUS three years ago which enables you to buy an extra 1% of your home each year for up to 15 years, as long as your share doesn’t exceed 79%.”

CONSIDER THE PROPERTY SIZE “For families looking for extra space, apartments can often be dismissed. We’ve ensured our new homes – both houses and apartments – meet the needs of modern families. For example, the larger apartments at Chiswick Gate in Hounslow boast three spacious bedrooms and a communal garden, while Hatchwood Mill in Wokingham has houses ranging from two to four bedrooms – ideal for those wanting a private back garden in a peaceful, village setting. “There are maximum household income levels in place to ensure that properties, the size of any kind, are accessible to applicants who are unable to purchase on the open market; within a London borough, it’s £90,000, while outside a London borough, it’s £80,000. There are also no minimum income thresholds, however, we will need to check that you’ll be able to afford to purchase your home and that this will remain the case in the long term.” To find out more about Chiswick Gate and Hatchwood Mill, call the Thames Valley Housing sales team on 0208 607 0550 tvhsales.co.uk

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AFFORDABLE HOMES

PROPERTIES AVAILABLE WITH THAMES VALLEY HOUSING S H A R E D OW N E R S H I P P L U S

Chiswick Gate Thames Valley Housing have innovated the traditional shared ownership model and are the only housing association to offer the flexible shared ownership PLUS scheme. They developed this to address the problem that, once people had bought the first percentage of their home, they were rarely able to afford to buy more. The shared ownership PLUS scheme, enables customers to buy an extra 1% of their home each year at a predetermined price. HOW IT WORKS 99 With standard shared ownership, most people start off by buying a share of between 25% and 75% and purchase more shares when they are able to (this is called staircasing). The remainder is owned by TVH (acting as landlord), and you’ll pay a subsidised rent on the share that you don’t own. The minimum you are able to buy is 10%, but each time you do so, you need to pay a solicitor, pay for a valuation and perhaps Stamp Duty. However, with shared ownership PLUS, it is simpler and these extra costs are removed. 99 Shared ownership PLUS allows you to buy an extra 1% of your home each year at a predetermined price. In the first year, the price you pay will be 1% of the property’s full value. There will be a fixed price increase of 3% every year after that and TVH will be able to tell you upfront exactly how much your additional share will cost each year. 99 You can continue on the scheme for up to 15 years as long as your share doesn’t exceed 79%. It’s up to you to decide if you want to purchase any additional shares. The maximum you can buy is 1% each year and there is no minimum. 99 If you want to buy more than 1% in a particular year, you can do this by staircasing. This allows you to buy a minimum of 10% more at the current market value. 99 If you ever want to move, you can sell your share of the property with the help of the TVH dedicated resales team. They will take care of marketing and advertising your property, right the way through to finding a purchaser. If you have already purchased the full share of your property and own 100%, you can sell your property on the open market.

The shared ownership homes at Chiswick Gate are perfect for families wanting to live in close proximity to the buzz of central London, while benefitting from the more relaxed style of life found in leafy west London. The one, two and three bedroom apartments from Thames Valley Housing are set within modern warehouse-inspired buildings that are arranged around landscaped communal gardens. Elegant and stylish in design, every home delivers a high specification and a modern finish. Many apartments offer a balcony and inside, the fully-integrated kitchens include a fridge/freezer, dishwasher, and washer/dryer. Residents also benefit from a dedicated underground car parking space and a bicycle store. A new show home has recently launched, enabling prospective homebuyers to experience the high specification that comes as standard in a Thames Valley Housing shared ownership property. From Chiswick Station, a 15-minute walk away, trains to Waterloo take under half an hour, while trains from Turnham Green tube station, on the District Line, reach London Victoria in 20 minutes. The M4 is easily accessible and Heathrow Airport is just over 10 miles away. A 30% share of a one bedroom apartment will cost £159,000, with a full market value of £530,000. The three bedroom apartments will be launching later this year.

Hatchwood Mill Setting new standards for affordable housing in terms of location, high-quality design and a superior specification, a collection of superb new homes in Winnersh, Berkshire, is now available to buy through shared ownership with Thames Valley Housing. The attractive two, three and four bedroom houses are built in hues of traditional red brick, complemented by either a red or black tiled roof; some of the elevations to the larger homes are punctuated with pretty tile-hanging and bay windows. The four bedroom houses also include a study room. French doors open out on to a private rear garden, while all the residents benefit from landscaped communal grounds with secure cycle routes – ideal for children to roam. There is also allocated parking and secure garage parking available. Nearby Winnersh railway station provides direct routes to Wokingham (in six minutes) and Reading (in 12 minutes). From Reading mainline station to Paddington Station, current services take just 27 minutes. Two bedroom semi-detached houses are ideal as a first time buy, as prices start from just £175,000 for a 40% share (full market value £437,500). Prices start from £203,000 for a 35% share (full market value £580,000) for a four bedroom detached house.

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AFFORDABLE HOMES

Hannah Foster and partner Jack Bradford, who are both 23, had always shared the dream of outright homeownership. Ironically then, it is thanks to shared ownership with Orbit Homes and the opportunity to increase the owned portion of their home through staircasing, that the young couple are already far closer to achieving their goal than they thought was possible. Along with their newest family member, a Cavalier King Charles spaniel called Millie, Hannah and Jack are now happy residents at Orbit’s Barton Place development near Burton-Upon-Trent The couple met two years ago, when Hannah, keen to save money towards buying her own place, started a second job waitressing part-time at the restaurant where Jack is a chef. When they eventually got together, they were keen to pool their resources to buy their own home as quickly as possible. Hannah and Jack believed they would have to rent a place to live and try to save for their own home for several years, but were very happy to discover that shared ownership at Barton Place was much more affordable than they thought. Hannah explains that she was searching for available properties, when she spotted an advert for Barton Place, and why it particularly caught her eye, “It said there were houses for sale, in the area we wanted, with shares available from as little as £78k for 40%. Initially, I said, ‘That’s impossible!’, but when I looked into it further, it turned out that we really could afford to buy 50% of a brand new house, and get help from the Government to pay a subsidised rent on the rest.” Hannah, who is now an estate agent, continues, “Thanks to my job, I was aware of shared ownership as a way to get on the property ladder, but I had no idea that you could buy more shares of your home as your income increased, up to 100% ownership. I mistakenly thought that, once you bought a given share of a property, you were limited to being a part-owner forever.” For the time being, however, until their

STEP BY STEP – STAIRCASING CAN MAKE YOU 100% HAPPY

overall household income increases, buying an initial 50% share of their home suits the couple perfectly. Before they found out more about shared ownership, the likelihood of living in their own home – instead of with their parents – and there being any money left to spare, seemed very remote. “When we were looking for a place to rent, anything halfway decent was at least £650 a month,” observes Hannah, “but we are paying less than half that for our mortgage, with a top-up rent that is far less than it would be on the open market, and we live in a gorgeous two bedroom house, with huge rooms, in a great location.” The Barton Place development, where Hannah and Jack have made their home, is set in the pretty Staffordshire village of Barton-under-Needwood, and offers

the perfect blend of peace and quiet, with entertainment on the doorstep, which the couple were hoping for. As well as a traditional high street, with independent shops and country pubs, they are living just a pleasant dog walk from the acclaimed Barton Marina, with its lively boating scene, multiplex cinema, restaurants and bars. Further two and three bedroom houses for shared ownership at Barton Place will be available in June 2017, with nearby developments at Tutbury and Tamworth also offering shared ownership properties from July. Information about the Orbit shared ownership homes for sale in your area is available online at orbithomes.org.uk, or by calling 0845 600 4072

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HELP TO BUY

GET HELP TO BUY A STUNNING APARTMENT AT ARENA PLACE

There’s a superb opportunity now on offer to secure a beautiful home in a unique historic setting at Taylor Wimpey’s Arena Place development in Colchester, Essex, where a stunning collection of sympathetically restored properties is complemented by a variety of striking newbuild designs There’s been a very successful response to the recent launch of one, two and three bedroom newbuild apartments in Albarn Court, which are selling fast, and prospective purchasers are advised to get in now to ensure they don’t miss out. What’s more, these beautiful new homes are available with Help to Buy, which allows eligible first time buyers, as well as those with a property to sell, to access a government loan for up to 20% of the property’s full price – so they only need a 75% loan-to-value mortgage and a deposit as low as 5%. This means the lucky purchaser of the one bedroom apartment at Plot 94, priced at £144,995, can secure their new home with a £108,746 mortgage and a £7,250 deposit. Michael O’Leary, Regional Sales and Marketing Director for Taylor Wimpey, said, “Help to Buy is making it even more affordable for first time buyers to own a home at Arena Place. With a 75% loan-tovalue mortgage, purchasers can take advantage of a wider range of more competitive mortgage deals, which can often mean that they end up paying less than they were in rent. With only a low 5% deposit required, they can move now, rather than having to spend years saving for a larger down payment. “We’re already experiencing a great deal of interest in these stunning new apartments, so I’d advise anyone hoping to make one their home to act now – before someone else beats them to it!” One bedroom apartments at Albarn Court are priced from £144,995, while two bedroom apartments start from £179,995. Each property features a spacious open-plan kitchen/dining/living room and comes complete with a high specification, including a fully-fitted kitchen, with integrated appliances, and designated allocated parking outside. Selected designs also boast an attractive private terrace. Help to Buy is available on all the

properties at the development, up to the value of £600,000, and there’s no salary cap for purchasers taking advantage of the scheme. Taylor Wimpey has sensitively renovated a series of historic military buildings within Arena Place – the site of the former Administrative Headquarters Complex for Colchester Garrison Artillery Barracks – maintaining and enhancing their original architectural features and turning them into stunning new homes. The developer has also incorporated historic features within its own designs for associated newbuild properties at Arena Place. Colchester offers a wide variety of amenities for everyday living, including a range of supermarkets and convenience stores, a selection of pubs and restaurants, plus an array of high street shops and cafés in the nearby Lion Walk Shopping Centre.

For leisure opportunities, the town boasts several museums, including Colchester Castle, which is home to the biggest keep built in the UK and provides opportunities for picturesque walks around the grounds. Arena Leisure Centre is also nearby to the development, while Colchester Zoo is just over three miles away. For commuters, Colchester Town railway station is just a short walk from Arena Place, and provides regular direct services to Colchester, London Liverpool Street and Walton-on-the-Naze. For road links, the nearby A12 provides routes northeast for Ipswich and southwest for Chelmsford and Romford. To find out more about securing a new apartment in Albarn Court at Arena Place with Help to Buy, prospective purchasers can visit the Sales and Marketing Suite, located off Napier Road, Colchester, Essex CO2 7GA, which is open Thursday to Monday from 10am until 5.30pm. Alternatively, the sales executive can be contacted on 01206 581096. Further information about Taylor Wimpey developments across the region is available by calling 01277 280544, or by visiting taylorwimpey.co.uk

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HELP TO BUY

PEABODY’S MERCHANTS WALK CREATED FOR FIRST TIME BUYERS Are you a first time buyer looking to get on the London property ladder? Buying your first property is a daunting task for many. However, it isn’t as scary as it might seem, particularly when there are many schemes out there that make high value areas in London affordable to ftbs The first step is understanding the various payment options that are out there on the market. For example, Peabody, London’s oldest housing association, offers various affordable options such as: Shared ownership – a cross between buying and renting, aimed at first time buyers; you own a share and then rent the part you don’t own at a reduced rate Help to Buy–- Help to Buy Equity Loans are available for up to 40% of the purchase price, dependent on the individual having at least 5% of the purchase price as a deposit and a mortgage of up to 55% to cover the rest. Secondly, shared ownership and HTB are available where you would least expect, making these homes more affordable. For example, Peabody’s award-winning development, Merchants Walk, offers first time buyers an affordable option to get on the property ladder without having to compromise on location. The Bow scheme comprises a collection of 79 affordable studio, one and two bedroom apartments, available from £360,000 through private sale. The development provides the chance to live close to the City without the large price tag. Merchants Walk is ideally located in Tower Hamlets, just three miles away from

central London. A one bedroom apartment offers, on average, 536 sq ft, including a private balcony. However, buyers would be looking to pay significantly more in other popular zone 2 locations, such as Canary

D I D YO U K N OW ?

London’s oldest housing charity, Peabody, celebrated its 155th anniversary on 26 March. Established in 1862 by the American banker and philanthropist, George Peabody, the Peabody Trust aimed to “ameliorate the condition of the poor” in London by providing good housing. Peabody now provides affordable housing for around 80,000 people and this is set to grow as it plans to merge with Family Mosaic, creating a new organisation (still called Peabody) with more than 55,000 homes across London and the South East. Peabody builds 1,000 new properties in London each year across a range of tenures, delivering award-winning, beautiful homes in a range of developments, from small sites to large mixed-tenure schemes. A major development programme will mean £2bn of investment for new Peabody housing, including low-cost schemes in key parts of the capital, such as Fish Island in east London and Thamesmead in southeast London – billed as London’s New Town, with the potential for up to 20,000 new homes. As well as introducing outstanding private sale and shared ownership properties to a city that’s facing a shortage of good new homes, Peabody is ploughing the profits from sales back into its social housing and community schemes.

Wharf, for a similar apartment. Residents can enjoy a range of bars, restaurants and shops as well as the Queen Elizabeth Olympic Park, which offers an alternative day out away from city life Located adjacent to Devons Road DLR, Merchants Walk is just a short commute into the City and within walking distance of Canary Wharf. Residents can also reach central locations, such as Bank and Liverpool Street, in under 20 minutes. Sales and Marketing Director for Peabody, Sarah Butler said, “Merchants Walk is an exceptional, high-quality development, with multiple transport links, that suits the City lifestyle completely. With lower deposit requirements, Help to Buy gives first time buyers an affordable option to secure their dream home in a great location.” Help to Buy is now available at Merchants Walk. Register your interest by calling 020 3369 8670, or visiting merchantswalk.co.uk

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AFFORDABLE HOMES

AN HISTORIC DEVELOPMENT IN A POPULAR LONDON HOTSPOT

Located on Creek Road in the town centre and only 100 yards from the famous 19th century clipper ship, the Cutty Sark, The Gramercy Greenwich oozes contemporary class, built into the rich history of the area. Greenwich is becoming an increasingly popular London hotspot, with recent surveys estimating that the borough’s population has grown by 19% in the last 10 years and will further grow by 14% over the next 10 years.¹ Residents of The Gramercy Greenwich can enjoy all that London has to offer, with a varied range of bars and restaurants local to the area, such as the highly-rated Green Pea, offering classic British cuisine, and the quirky Champagne+Fromage. Entertainment is available on The Gramercy Greenwich’s doorstep at Up The Creek comedy club, offering daytime jazz and evening performances from top comedians every week. As well as entertainment on a Friday and Saturday, Sunday offers the

Family Mosaic has launched its latest development; The Gramercy Greenwich – a stunning collection of homes that offers buyers fine living in a highly desirable location. With properties available through private sale and shared ownership, first time buyers will be quick to pick up on this prime investment opportunity, with shared ownership prices starting at £122,100 for 30% share and private sale prices starting at £635,000 for two bedroom apartments opportunity to relax and appreciate the independent merchants of Greenwich Market, or the range of boutique shops that help maintain a community feel in the area. For those seeking greener pastures, residents can enjoy a walk, revitalising run or an afternoon picnic in the neighbouring glorious Greenwich Park. The Gramercy Greenwich also presents an excellent opportunity for families, with apartments and townhouses at the development both offering spacious and bright homes, complimented by private balconies, terraces, or gardens. There is an abundance of schools in the area – Saint Alfege with Saint Peter primary school neighbours the development, and Saint Ursula’s Convent secondary school is located just a 12-minute walk away, both boasting Good and Outstanding Ofsted ratings, respectively.

Access to and from central London is effortless, with Greenwich’s stations and pier connecting residents through Overground, DLR, Jubilee Line, River Boat and Emirates Air Line. These offer quick connections to the major transport hubs of London and easy access for travel further afield. The Cutty Sark for Maritime Greenwich DLR station is just a one-minute walk away from The Gramercy Greenwich and Greenwich station itself is just a sevenminute stroll away. The Gramercy Greenwich presents a variety of purchasing routes for first time buyers. For further information, please visit thegramercygreenwich.co.uk for private sale enquiries and familymosaicsales.co.uk for shared ownership 1 Greenwich population estimates and projections – Office for National Statistics

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FOR SALE

FOR SALE THE CREAM OF THE CROP Each month, FTB scours the market for the best starter homes for first time buyers. Whether you’re looking to get your foot on the first rung of the ladder on a budget, or are looking for an urban oasis, we hope you will enjoy our selection.

ACTON, LONDON

HOIC FIRST C

LEAFY

LOC★A★T★ION Affordable homes p60-61

U X B R I D G E , G R E AT E R L O N D O N

HOIC FIRST C

REAL LIFE

EXCITING

LOC★A★T★ION Urban oasis p62-63

Shared ownership p64

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FOR SALE

AFFORDABLE HOMES ACTON, LONDON

HOIC FIRST C

FROM £110,000*

LEAFY LOC★A★T★ION

Acton Gardens Located between leafy Chiswick and bustling Ealing, this popular development is home to several hundred one, two and three bedroom apartments, penthouses and townhouses, with 10 recently made available through shared ownership. The homes are beautiful inside and out, and feature bright open-plan living/dining areas, with fitted kitchens and integrated appliances as well as a private balcony, or terrace. Outside, the development will eventually include parks, squares and communal gardens. It’s perfect for commuters, too, with Underground and Overground stations close by and the Crossrail due to arrive next year. L&Q 0333 003 3636 lqpricedin.co.uk/acton-gardens

*Based on a 25% share of the full market value of £440,000

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FOR SALE FROM £185,000

BEDFORD, BEDFORDSHIRE

FROM £175,000*

WINNERSH, BERKSHIRE

De Montfort Place There are a range of home styles and sizes available at this stylish new development close to the centre of Bedford – recently voted the third hottest property market in the UK. The one bedroom apartments feature a well-proportioned living area, fitted kitchen with integrated appliances and a huge bay

window. Houses are arranged over three floors, with two of the bedrooms featuring a walk-in wardrobe, plus a study on the top floor. Bedford rail station, in the centre of the thriving town, is just an 11-minute walk away. Storey Homes 01582 742 165 storey-homes.co.uk

ELEPHANT AND CASTLE, LONDON

FROM £143,700*

Hatchwood Mill Located in the pretty Berkshire village of Winnersh, yet close to Reading, these new homes are ideal for combining city and country life. Perfect for families, they range from two bedroom semi-detached to three and four bedroom detached properties. The beautifully designed red-brick homes feature contemporary

kitchens, with French doors opening to private rear gardens, and private parking. Nearby Winnersh station has services to Wokingham in six minutes and Reading in just 12. Thames Valley Housing 020 8607 0550 tvhsales.co.uk

*Based on a 40% share of the full market value of £437,500

S T R AT F O R D , E A S T L O N D O N

FROM £112,500*

Harvard Gardens The zone one location of this development makes it perfect for those looking to make the most of London’s sights. The one, two and three bedroom apartments form part of the Albany Place development and lie just over a mile from the Thames, Tower Bridge and the Southbank. Transport links are also excellent.

Inside, the homes are finished to a high standard and feature a good range of appliances as well as wooden flooring, floorto-ceiling windows and private balconies. All one bedroom appartments are now sold. L&Q 0333 003 3640 harvard-gardens.co.uk

*Based on a 25% share of the full market value of £574,000 for a two bedroom apartment

Stratford Broadway This landmark development in the heart of Stratford has recently launched 35 new one and two bedroom apartments, available through shared ownership. The homes form part of a fabulous new community, where residents have access to a private, on-site gym and a roof-top terrace. Inside, the apartments feature

floor-to-ceiling windows, some with enviable views out over London’s skyline. Stratford is a lively part of the city with a great deal of new restaurants and bars as well as world-class shopping and sporting facilities. East Thames 0300 303 7333 east-thames.co.uk

*Based on a 30% share of the full market value of £375,000

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FOR SALE

URBAN OASIS U X B R I D G E , G R E AT E R L O N D O N

HOIC FIRST C

FROM £365,995

PICTURE PERF★E★CT ★

St Andrew’s Park The leafy west London town of Uxbridge is home to these stunning new one and two bedroom apartments and three and four bedroom houses. The one bedroom homes feature an open-plan living/dining area with smart fitted kitchen, while the houses are arranged over three storeys – perfect for family life. St Andrew’s Park is ideally located for commuters and those who love to be close to the city, while having easy access to countryside pursuits. Uxbridge tube station is just a 10-minute walk, for Piccadilly and Metropolitan line underground services into the city, which take just over 40 minutes. St Mowden Homes 0844 243 4560 stmodwenhomes.co.uk

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FOR SALE GREENWICH, SOUTH LONDON

FROM £410,000 CHISWICK, WEST LONDON

FROM £440,000

Iverna Quay Situated on the Greenwich Peninsula, the urban views from this development are superb. Iverna Quay forms part of Greenwich Millennium Village, an expansive community that enjoys easy access to new parks, an ecology centre, the O2 and Canary Wharf. The homes are well-sized, with open-plan living

CAMBRIDGE

areas, and balconies from the bedroom and living room. North Greenwich station is nearby, where Jubilee line services reach Bond Street in 17 minutes and Westfield Stratford City in eight. Taylor Wimpey/Countryside Properties 020 8305 2712 gmv.london

FROM £375,000

500 Chiswick High Road These plush new apartments, penthouses and townhouses range from studio to four bedrooms and all are finished to an incredibly high specification. As well as balconies and beautiful kitchens, the apartments feature fitted wardrobes, a utility cupboard and plenty of storage space. Chiswick, which is

CHELMSFORD, ESSEX

renowned for its beautiful homes and café culture is just a few minutes’ walk away, along with a gym, cinema and supermarkets. Plus, the District line from nearby Chiswick Park station reaches London Victoria in 20 minutes. Redrow London 0203 811 5914 redrow.co.uk

FROM £309,995

Novo There are a range of two bedroom apartments and four bedroom houses available at this pretty new development in Trumpington, three miles south of Cambridge’s city centre. The two bedroom apartments feature bright, open-plan layouts with floor-to-ceiling windows and private balconies, as well as a

laundry room. Residents can also enjoy beautifully landscaped gardens, plus cycle storage and private parking. Travel into the city centre is easy by car, public transport, or even by bike. Countryside Properties 01223 960 677 countryside-properties.com

Marconi Evolution The one, two and three bedroom apartments and houses at this development are perfect for modern living. They are beautifully designed, with bright living areas, private balconies and fitted kitchens. The development features an on-site gym and concierge service, while Chelmsford’s centre is just

over a 10-minute walk. Travel into London Liverpool Street takes just 39 minutes from nearby Chelmsford station. There are parks and beautiful countryside on the doorstep, while the coast can be reached in under an hour. Bellway 01245 269 208 bellway.co.uk

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REAL LIFE

Shared ownership: Enfield

After a separation meant the sale of the family home, mumof-two Rachel Kabambe had her options limited finding a home in her price range, which had enough space for her and her two daughters. With the average price of a three bedroom family home in Enfield valued at £580,999¹, it wasn’t going to be an easy task for the newly-single mum However, when Rachel’s mum spotted the homes at Notting Hill Sales’ Bowles Square development in Enfield and saw that they were available with shared ownership, just one mile from where Rachel, 44, and daughters Jasmine, 22, and Emilia, three, were already living, Rachel made an appointment to view them straightaway. NHS Service Manager Rachel said, “I’d been a homeowner for nearly 20 years, but after my husband and I separated 18 months ago and had to sell the family home we owned together, I knew that I couldn’t afford to buy by myself. It was my mum who suggested shared ownership, so I started researching the scheme. Not long after, we spotted Notting Hill Sales’ Bowles Square and, after the initial visit, I realised that it ticked all the boxes. Following the sale of my previous property, I could afford to buy a 40% share and the team at Notting Hill Sales were really helpful. We moved in on the 8 January, so it was really nice to have a new start for the New Year. The day we moved in, I felt such a weight off my shoulders that we were finally home. “Both Jasmine and I work locally, and Emilia goes to nursery in the area too, so we didn’t want to move far – so Bowles Square is the perfect location. The style of

FAC T F I L E

Property: Three bedroom house Market value: £420,000 Share purchased: 40%

the home means that we have more space; especially with Jasmine being in her 20s, we’re not on top of each other. She has what we call the ‘penthouse suite’ on the top floor, with her own bathroom, which means no arguments and privacy for her. The layout of the home also means we can have family time together, which is something we haven’t been able to enjoy for some time. It’s so nice to have some breathing space after the worries of the last couple of years and, with it being a newbuild, we haven’t had to do any decorating at all!” Bowles Square, is now sold out, but first time buyers looking for a family home may

also want to consider Notting Hill Sales’ brand new development ASPIRE in Arnos Grove, Enfield, where a collection of three bedroom townhouses are available with shared ownership. Prices for a three bedroom townhouse at ASPIRE start from £186,000 for a 30% share of the full market value of £620,000. For further details visit nottinghillhousing.org.uk 0203 815 1234 1 foxtons.co.uk/living-in/enfield/house-prices

“AFTER MY HUSBAND AND I SEPARATED 18 MONTHS AGO AND HAD TO SELL THE FAMILY HOME, I KNEW THAT I COULDN’T AFFORD TO BUY BY MYSELF. IT WAS MY MUM WHO SUGGESTED SHARED OWNERSHIP, SO I STARTED RESEARCHING THE SCHEME”

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buyer

READERS’ AWARDS 2017 VOTE NOW! We take our readers very seriously and want to know your views as first time buyers. That’s why we need you to vote for your favourite developments, housing providers and other categories, listed on the following pages, in our First Time Buyer Readers’ Awards 2017. You could win £250 Ikea vouchers! For more details, see page 96.

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BEST SMALL DEVELOPMENT AFFORDABLE HOMES

THIS AWARD WILL BE GIVEN TO SMALL DEVELOPMENTS THAT HAVE USED THE BEST DESIGN AND QUALITY TO CREATE DESIRABLE, AFFORDABLE AND INSPIRING ENVIRONMENTS IN WHICH PEOPLE WISH TO SET UP THEIR FIRST HOME. THE AWARD IS FOR SCHEMES OF FEWER THAN 30 HOMES.

EAST THAMES | FOUNDRY MEWS Foundry Mews is a collection of 12 contemporary properties in Walthamstow E17, offering first time buyers an ideal opportunity to get on to the property ladder. Featuring a range of town houses, apartments and maisonettes, a variety of buyers are catered for. All properties are available for shared ownership sale, providing much-needed home ownership within the surrounding area. These high-specification properties offer residents the benefits of a desirable location, reaching central London in half an hour. Residents will enjoy a thoughtfully designed development, which holds community at its heart. Meticulously designed to maximise space and light in each property, every design aspect has been created to compliment the heritage of Wood Street, taking inspiration from the many listed buildings which surround it, ensuring that it fits seamlessly into the local landscape.

MAGNA GROUP | MAGNA WEST Founded in 2015 by Chris Madelin and Oliver Mason, Magna Group, the homebuilder, was set up to deliver affordable luxury homes for all. Such a vision has already started to take shape, with exponential growth over the last two years and a current Gross Development Value (GDV) of £130 million. Magna Group is currently building nine luxury developments in Surrey and Hampshire, all of which offer perfect first home purchases for first time buyers. The first site to be completed is Magna West in West Byfleet, just a 40-minute commute from central London, comprising 22 one-bedroom units and five duplexes, all of which are built with opulence in mind. Fixtures and fittings include NEFF and Miele appliances, highspec sound and lighting systems, marble bathrooms, oversized shower units and Axor Hans Grohe taps and showers. Lead-in prices for Magna West homes start at £205,000, with Help to Buy options. Magna by name. Magna by nature.

OCTAVIA LIVING | GLADSTONE VILLAGE The Elms at Gladstone Village NW2 is enabling first time buyers to afford a highly desirable home in a glorious parkland setting – but with everything the capital has to offer in easy reach. Part of a small, gated, mixed-tenure development, right on the edge of picturesque Gladstone Park in northwest London, The Elms offers eight stylish shared ownership apartments. Competitively priced, they’re affordable for many who would struggle to buy any property in this area, let alone a high-spec, low-maintenance newbuild in such a covetable location. Gladstone Village has sensitively transformed what were unsightly offices into an attractive community, with striking architecture, thoughtful landscaping and a village feel. Despite being a tranquil enclave, it’s just a short walk to local shops, bars and restaurants, and less than 30 minutes on public transport into central London. It’s unsurprising then, that The Elms’ shared ownership apartments attracted more than 500 applicants.

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ORIGIN HOUSING | SAFFRON HOUSE

READERS’ AWARDS

Giving aspiring urbanites a taste of city life, Origin Housing’s Saffron House is a collection of eight two bedroom and two three bedroom shared ownership apartments, situated on Baker Street in Enfield EN1. In a climate where property prices continue to rise, properties at Saffron House start from just £104,650 for a 25% share. Offering a truly affordable solution for first time buyers looking to get on to the property ladder, remarkably, projected monthly costs are up to £300 per month less than the average for a two bedroom home in Enfield. Simon Scott, Head of Sales and Marketing for Origin Housing, comments: “Traditionally, a high proportion of homes available for shared ownership offer just one bedroom. However, at Saffron House, we are delighted to deliver a scheme of two and three bedroom apartments. For growing families and first time buyers alike, these highquality homes offer that extra space, making them truly liveable.”

SITE SALES | THE HAWTHORNS The Hawthorns is a charming development of three new homes, comprising of one four bedroom detached house and two three bedroom semi-detached houses. Surrounded by the Hertfordshire countryside, these homes are ideally situated in Lydia Mews cul-de-sac in the quaint village of Welham Green. Located just a fiveminute walk to the High Street and a 10-minute walk to Welham Green Station, these homes conveniently link commuters to arterial stations such as London Fenchurch Street in just 40 minutes, while also being close to major roads such as the A1 and M25. This popular, family-orientated community is the midpoint between four prominent Hertfordshire towns; Welwyn Garden City, St Albans, Potters Bar and Cheshunt, providing buyers with connections to the best of this county. Luxury home comfort is what has been achieved with the specification of these homes and every room makes maximum use of light, creating an airy, spacious feel throughout.

VIRIDIAN HOUSING | AURA Take a collection of carefully-designed, beautifully-finished apartments, set in the smart residential area of Balham, within easy reach of everything that Balham has to offer, and you have Aura. Aura is a new development of 15 quality one, two and three bedroom apartments for shared ownership. Each provides space, clean lines and lots of natural light, with every apartment featuring either a glazed balcony, or terrace. All apartments have been finished to an outstanding interior specification, including a contemporary fitted kitchen with integrated Smeg appliances and a contemporary-style bathroom and en suite shower room. The site, at the end of Balham High Street, was previously occupied by Viridian at their former head office and a neighbouring petrol station, but now provides residential apartments as well as a community space and a Co-op supermarket for the local community.

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BEST URBAN SMALL DEVELOPMENT REGENERATION PROJECT AFFORDABLE HOMES

THIS AWARD IS FOR THE BEST DEVELOPMENT WITHIN A NEIGHBOURHOOD REGENERATION SCHEME THAT CAN DEMONSTRATE THE BENEFIT IT HAS BROUGHT TO THE AREA.

HOME GROUP | PARK RISE

Park Rise is one of Home Group’s success stories. It’s a mixedtenure development of spacious, affordable, rented, private sale and shared equity apartments and homes, nestled on a wooded hillside, with wonderful views over High Wycombe. With 164 new homes – 21 one bedroom and 70 two bedroom apartments, and 65 three bedroom and eight four bedroom homes, it has built hope and opportunity in a once notorious estate. Almost a third of the homes are available for shared ownership. Integration of Park Rise into the wider community was a key element and its residents are happier, feel safer and are proud of their new homes and community. In creating homes, Home Group built on pride, friendships and support across this culturally diverse neighbourhood.

ST. MODWEN HOMES | BRANSTON LEAS

Before St. Modwen transformed the development, Branston Leas in Burton upon Trent was 280 acres of wasteland with no benefit to the local community. Now, it is a desirable place to live, with the first phase of 64 beautiful new homes all sold out and the second phase going fast. To ensure the development benefits local people, St. Modwen has delivered 160 school places through an extension of the local primary school; a village centre with shops and local amenities; employment space that will create 1,500 new jobs and a new sports pavilion. What’s more, they have worked with Staffordshire Wildlife Trust to deliver a new 82-acre bluebell wood, with new residents helping to plant trees and seeds. It’s no wonder 90% of new purchasers would recommend the development.

MILLER HOMES | VARCITY

Varcity comprises over 850 residential properties, located on the former brownfield site which was home to Edinburgh’s Telford College. The development comprises three former campus sites, sympathetically transformed, specifically with ftbs in mind, into a successful, thriving new community close to Edinburgh’s city centre. The overall design strategy, the product mix and features, together with initiatives to address issues of availability and affordability, have all helped Varcity meet the needs of the ftb market. Through an innovative planning strategy, with co-ordinated delivery and engagement at its core, Varcity has supported regeneration and provided important socio-economic benefits as well as excellent opportunities for ftbs to own a home.

STOCKWOOL | WHITECHAPEL CENTRAL

Whitechapel Central is set to transform a former Safestore facility into a new urban quarter, with 30% of the site dedicated to new public realm. The scheme of 564 new homes – many being family-sized – alongside around 38,000sqft of commercial area, including flexible office space, shops, a gym and a café, plus storage facilities for the local market, is fundamental to Whitechapel’s vision for regeneration. Straddling two nearby conservation areas, the design focuses on connectivity, with new pedestrianised streets and squares, and a number of ‘character areas’. The predominantly brick and reconstituted stone design creates strong, street-based frontages, while a central glass and aluminium-clad tower enhances the future townscape of Whitechapel.

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MOSTSMALL BEST INNOVATIVE DEVELOPMENT REDEVELOPMENT OF AN EXISITING PROPERTY AFFORDABLE HOMES

THIS AWARD LOOKS FOR PROPERTIES THAT HAVE BEEN REDEVELOPED USING FRESH IDEAS THAT UPHOLD THE INTEGRITY OF THE ORIGINAL BUILDING AND MAKE BEST USE OF THE RETAINED FEATURES AND SURROUNDINGS.

GUINNESS HOMES | ONE MANOR ROAD One Manor Road in Brighton is an exciting and unique development, comprising a stunning collection of new homes, located on the site of a 19th-century convent. The development offers a fantastic blend of traditional and modern architecture, with contemporary and historic buildings standing side by side. Guinness Homes set out to respect the historic surroundings, while retaining and enhancing the existing buildings of local importance, to provide high-quality, sustainable and affordable housing for the area. One Manor Road is perfectly suited for first time buyers, with a choice of one and two bedroom apartments, as well as three and four bedroom houses, offering ample space for expanding families, and available with Help to Buy, affordable rent and shared ownership. The development is located on the edge of the Kemptown area, with nearby access to the famous pebbled beach, the Royal Pavilion and Brighton Marina.

HENLEY HOMES | REMBRANDT HOUSE Rembrandt House, on Whippendell Road in Watford, stood largely empty for decades and its beautiful Edwardian façade had fallen into disrepair. The landmark 3.4-acre site was originally home to the Watford Speedometer & Magneto Works, which provided parts to companies like Vickers and Rolls Royce. In 1932 the site was taken over by Rembrandt Photogravure (hence the name of the building), which printed glossy magazines and the earliest colour newspaper supplements. Henley have transformed the high-ceilinged and light-flooded interior into 43 one, two and three bedroom apartments, some with mezzanine levels, while restoring the striking 120m-long neo-classical exterior. Ample parking and good transport links will allow easy connections to work and leisure opportunities, while Watford town centre is just a few minutes away. Thirty apartments were for private sale, averaging £477 per sqft (with only a handful remaining) and 13 are available via Origin Housing Association.

HENLEY HOMES | BARNES VILLAGE Barnes Village is a Grade II listed historic site near Stockport, comprising 38 apartments and townhouses – constructed within and attached to a restored French Gothic Revival hospital building – and 117 newbuild, two to four bedroom properties in the 16.5-acre grounds. Barnes Hospital was founded in 1875 and served as a convalescent hospital for the Manchester Royal Infirmary until 1999. It began to fall into dereliction thereafter, despite listed status. Henley’s careful conversion and restoration will bring a new chapter to the old building. Spacious, modern homes, with sharply-pitched roofs and large windows, echo the drama of the old, but with the elegance and convenience of the new. Together, they create a new village with accessible transport connections and pre-existing links to surrounding communities. Prices are from £145,000 (one bedroom conversion apartment) to £425,000 (new four bedroom house); an average of £252 per sqft. Homes are eligible for Help to Buy and completions start in spring 2017.

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INSPIRED HOMES | SUTTON COURT

READERS’ AWARDS

Sutton Court, by Inspired Homes, is an innovative redevelopment of a former office building in Sutton, Surrey. Comprising 82 high-end apartments, every square inch of space has been maximised to deliver private homes in Greater London that are affordable to first time buyers, while enabling them to ‘Live Brilliantly’ with a hightech, high-spec finish. The redevelopment saw the building stripped back to its shell and core, with the internal layout reconfigured and the appearance of the building left unrecognisable, with a stunning new façade that provides a contemporary architectural style. The apartments are Inspired’s best yet, comprising private balconies, with floor-to-ceiling French doors and uniform open-plan living areas that look and feel more spacious than at previous developments. Located in the heart of the town centre, close to the railway station, Sutton Court offers residents a short 27-minute commute into central London.

TAYLOR WIMPEY EAST LONDON | ARENA PLACE Taylor Wimpey East London has carefully redeveloped the former Administrative Headquarters Complex for Colchester Garrison Artillery Barracks, to offer a prestigious collection of unique homes, known as Arena Place. Arena Place has breathed new life into this historic site, with Taylor Wimpey faithfully maintaining and enhancing the original architectural features of the existing military buildings, while constructing a series of contemporary newbuild properties which encompass the traditional character. Formerly the officers’ quarters at Colchester Garrison Artillery Barracks, Block A at Arena Place is a beautiful Italianate building, which dates back to the Victorian period. The roofline bears striking resemblance to those found dotted around picturesque Lake Como in northern Italy, comprising stone detail at third-floor level with overhanging eaves. As a locally-listed building, the exterior is considered a heritage asset in Colchester and, therefore, any changes were required to be replaced like for like.

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BEST PROPERTY SMALL DEVELOPMENT SUPPLEMENT AFFORDABLE HOMES

THIS AWARD IS LOOKING FOR THE BEST PROPERTY NEWS SUPPLEMENT THAT PROVIDES ACCURATE AND USEFUL INFORMATION, EITHER IN PRINT OR ONLINE, TO HELP FIRST TIME BUYERS ON TO THE PROPERTY LADDER. THE SUPPLEMENT MUST REACH OUT TO AT LEAST 1,000 READERS AND SHOULD PROVIDE REGULAR ARTICLES AIMED AT THOSE LOOKING TO PURCHASE THEIR FIRST HOME.

METRO Metro Property is now an established leader in first time buyer coverage and this weekly property section reaches more than 1.8 million readers and more first time buyers than any other national newspaper. Its award-winning features include: weekly exclusive first time buyer case studies; New Build News pages, keeping househunters abreast of the latest launches; and the popular My First Home series, in which celebrities chat about their journey on to the ladder. Now, there are also frequent first time buyer specials, giving in-depth insights into the first time buyer market. One secured an exclusive chat with the housing minister, just before the introduction of London Help to Buy, and was first to announce a groundbreaking first time buyer scheme by Weston Homes. Meanwhile, a new weekly finance column gives straightforward mortgage advice. As well as inspiration, there’s aspiration, too. Readers can drool over the Property Porn pages, while a new lively Home section features more stylish interiors than ever before.

TIME OUT LONDON Many Time Out readers are not yet on the property ladder, but want to find affordable areas of London that have potential. As a result, their property section features development news, alongside articles with an eye on ‘where’s next?’ which reflect lifestyle interests as well as budget. After all, Time Out is all about making the most of the city! They feel their annual Shared Ownership Week special distills everything about their approach to property. The most recent example (September 2016) takes the reader on a journey: What is shared ownership? How does it work? Who buys through these schemes? What are the properties like? Where can I buy? Now I’m interested, what do I do next? Aware that first time buyers are not property experts, they use a range of devices – including Q&As with people from housing associations, maps and case studies – to demystify the process.

WHATHOUSE? WhatHouse? is a free-of-charge print supplement to Whathouse.com, the UK’s leading specialist new homes portal. The newspaper was launched in December 2013 and they now produce 10 issues a year (monthly February-June and September-December, with bimonthly summer and winter editions), with a typical pagination of 56-72 pages. Some 285,000 copies are printed of each edition. The newspaper covers a wide range of property types and prices, with regular coverage of subjects of particular interest to first time buyers, in special features or supplements, as well as in regular regional and topic spots. Expanding on the newbuild speciality of the portal, the newspaper also embraces re-sale homes and rental markets, as well as monthly columns for topics such as mortgages, interior design and gardening, across a broad budget spectrum. Supplements in 2016 have included affordable homes and first time buyers, as well as buy-to-let, retirement and their own diverse WhatHouse? Awards.

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BEST LAW FIRM FOR CONVEYANCING

FINANCE

THIS AWARD CELEBRATES LAW FIRMS WITH OUTSTANDING CONVEYANCING PACKAGES FOR FIRST TIME BUYERS.

BEAUMONT LEGAL Beaumont Legal constantly works to improve the service it provides to all of its customers, using its experience as one of the country’s largest conveyancing providers to build on how first time buyers can be guided through the process of buying their first home. More than any other group of home buyers, first timers demand more information and quicker service and so, year-on-year, Beaumont Legal improves its technology and the customer service skills of its team to help give customers what they want – fast. Everyone at Beaumont Legal believes that, to provide a good service, you need to work closely with everyone involved in the process – from developers to housing associations, mortgage brokers to estate agents – and the Beaumont team works hand-in-hand with all of its partners to achieve the best service for everyone.

CAVENDISH LEGAL GROUP Cavendish Legal Group (CLG) has been working with property purchasers for over 30 years. CLG has developed from a sole practitioner into the busiest London-based property practice. They have achieved this by adhering to high service standards; sound professional ethics and investment in resources and technology. CLG strives to offer all their first time buyers a professional helping hand through the property buying process. All of the company’s fee earners are legally qualified and understand the time limits involved, and are particularly proud of the ability to work to tight deadlines for both off-plan and build-complete developments. The collective experience of their property lawyers and the fact that every matter is handled by a friendly, approachable and experienced property lawyer means that CLG can quickly and accurately identify the requirements of each individual client, to provide a personal tailor-made service every time. They continue to invest in technology and have been Certificated as Cybersafe by the Conveyancing Association.

LAWCOMM SOLICITORS Lawcomm Solicitors have worked hard to design a first time buyer conveyancing service using years of industry knowledge and feedback from first time buyers. Key benefits include: Fully regulated and professionally insured solicitors firm, with specialist first time buyer, newbuild and shared ownership conveyancing teams already working with major mortgage lenders, housing associations and developers, nationwide; experienced, friendly and communicative first time buyer conveyancers; Law Society approved under the Conveyancing Quality Scheme and audited to ISO9001 standards; easy and quick communication via digital client care packs to avoid postal delays, including e-signatures, online identification verification and secure payment, and a dedicated client portal for clients and third parties to view case progress 24/7; fixed competitive fees available from our website and various comparison sites, with a free no-move-no-fee policy; and fast and efficient completions with the ability to meet completion deadlines.

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BEST FIRST SMALLTIME DEVELOPMENT BUYER APARTMENT AFFORDABLE HOMES

THIS AWARD IS FOR AN APARTMENT SUITABLE FOR A FIRST TIME BUYER, WHICH IS AFFORDABLE AND ALSO OFFERS EXCELLENT DESIGN FLAIR, BOTH INSIDE AND OUT.

FAMILY MOSAIC | LENNARD ROAD Family Mosaic created an affordable and high-quality development that appealed to the varying audience of first time buyers. At Lennard Road, a shared ownership development, Family Mosaic successfully created a popular, modern and excellent collection of homes. The development, of 20,000 sqft, compromises 17 one, two and three bedroom apartments. It offers first time buyers, including young professionals, couples and families, a great opportunity to get on to the property ladder, with prices starting at £87,000 for a 30% share of a one bedroom apartment. Well located, Lennard Road has national transport links, retail offerings, restaurants and recreational spaces all on its doorstep. This development provides good quality housing and pleasant open space within an inner city site, in a time where open space is scarce. Family Mosaic have put quality before quantity, in order to respond to the character of the local area.

HOME GROUP | FUSION LONDON Fusion London, on Loxford Road, saw a former chocolate factory site in a wellestablished residential area of Barking transformed by Home Group into a mixedtenure development of modern one and two bedroom apartments. The development offers much needed affordable and shared ownership apartments, giving local people the opportunity to continue to live in the area and commute, with excellent rail links into and across London. Each apartment offers a bright, airy and stylish contemporary living space, giving first time buyers a well needed chance to get on the property ladder, whilst benefiting from green and energy-saving technology. And the design doesn’t stop inside; great creativity has been used to develop the outdoor living space, incorporating fruit trees, gardens, courtyard areas, roof terraces and seating. The gated residential access enhances safety and privacy. The sales success at Fusion London confirms that these stylish, modern and affordable apartments are perfect for first time buyers.

OCTAVIA LIVING | GLADSTONE VILLAGE The Elms at Gladstone Village, London NW2, offers exceptional apartments in a glorious parkland setting, but with everything the capital has to offer in easy reach – and all at affordable prices for first time buyers. It’s unsurprising, then, that these eight shared ownership apartments attracted more than 500 applicants. They’re part of a small, gated, mixed-tenure development right on the edge of picturesque Gladstone Park in northwest London, an area where many first time buyers struggle to buy any property, let alone a high-spec, low-maintenance newbuild in such a covetable location. With striking architecture, design-led interiors and thoughtful landscaping, The Elms comprises the kind of apartments young owners are proud to welcome guests into, and love to come home to. Yet, despite being in a peaceful enclave, it’s just a short walk to local bars, restaurants and shops, and less than 30 minutes on public transport into central London.

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PEABODY | CARTERS YARD

READERS’ AWARDS

Carters Yard is a stunning development that delivers on uncompromising style and practical living in Wandsworth (travel zone 2). These spacious one, two and three bedroom apartments have been specifically created with first time buyers in mind and offer affordable routes to home ownership, including Help to Buy London and shared ownership. With striking exteriors and unparalleled interiors, these apartments have been considerately designed to challenge the thought that ‘affordable means compromised quality’. With fibre-optic connectivity, open-plan living spaces with engineered oak flooring and private balconies and terraces, designer handleless kitchens, luxurious bathrooms and more, these energy efficient homes truly exceed expectations. Beyond the beautifully secluded communal garden and excellent transport links (Waterloo and Oxford Circus can be reached within 25 minutes), a selection of apartments also benefited from stunning furniture packages provided by interior specialists, up to £19,000-worth of paid stamp duty and a contribution to legal fees – all to ease the burden for first time buyers.

TAYLOR WIMPEY EAST LONDON | ARENA PLACE Taylor Wimpey East London’s Arena Place development in Colchester is one of this leading housebuilder’s most prestigious redevelopment schemes in the country. Based on the site of the former Colchester Garrison, the historic buildings have been retained and refurbished, respecting the existing fabric and minimising interventions and alterations where possible, to create beautiful new homes. The development has a fantastic choice of one, two, three and four bedroom properties, including the uniquely designed one bedroom Plot 33 apartment at Domitian Court. Ideal for first time buyers, this luxurious, refurbished apartment combines traditional characteristics with modern high-specification appliances, to meet the demands of busy contemporary lifestyles. Among this property’s stand-out features are a fully-fitted kitchen with integrated appliances, underfloor heating and beautiful bay windows to both the open-plan kitchen/living/dining room and the bedroom. The new homes at Arena Place are available with Help to Buy, making them more accessible to first time buyers.

VIRIDIAN HOUSING | 6 RIVERLIGHT QUAY One of six eye-catching apartment buildings at St James ‘Riverlight’, 6 Riverlight Quay is set within the Nine Elms regeneration zone. The buildings all feature a wealth of glazing and stunning gull-wing roofs designed by Rogers Stirk Harbour & Partners architect, but only in 6 Riverlight Quay will you find 116 unique one and two bedroom apartments available for shared ownership. The one bedroom apartment on the first floor is one such apartment. Triangular in shape, it occupies the apex of this striking building. At 51.8sqm it is perfect for a single young professional, with more storage than you’d expect for an apartment of this size, and the added benefit of a spacious balcony. Offered for shared ownership sale, the 25% share was valued at £156,140, and the minimum deposit required was just £7,807. The total monthly cost has been estimated to be just over £1,100 – less than a similar apartment would cost to rent privately in the area.

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BEST LARGE SMALL DEVELOPMENT AFFORDABLE HOMES

THIS AWARD IS FOR DEVELOPMENTS OF MORE THAN 80 HOMES THAT HAVE USED THE BEST DESIGN AND QUALITY TO CREATE AN AFFORDABLE, DESIRABLE AND INSPIRATIONAL ENVIRONMENT AND THAT HAVE PROVIDED ADDITIONAL FACILITIES TO BENEFIT THE LOCAL COMMUNITY AND SURROUNDING NEIGHBOURHOODS. THESE HOMES ARE IN LARGE DEVELOPMENTS IN A MIXED-TENURE ENVIRONMENT, OR STAND-ALONE DEVELOPMENTS.

BARRATT LONDON | HENDON WATERSIDE Hendon Waterside is an impressive regeneration scheme, and part of an exciting series of projects currently transforming the landscape in West Hendon and the local area. In association with the Metropolitan Housing Trust and the London Borough of Barnet, thirty acres of land are being developed to include over 2,000 homes, plus parks and local amenities, all set within beautiful and green surroundings. Located in Zone 3 and adjacent to the Welsh Harp Reservoir, Hendon Waterside is within walking distance of Hendon railway station and Hendon Central Tube station. The development also features a 12-hour on-site concierge service, private outdoor space to all homes and a 23rd-floor viewing gallery, offering a fantastic lifestyle, only a short distance from central London.

EAST THAMES | PROSPECT EAST In up-and-coming Leyton Road E15, Prospect East is the first phase of a major new integrated neighbourhood in Stratford, imaginatively arranged around a central landscape design garden, with incorporated community space. The landmark development comprises a contemporary collection of apartments, duplexes, penthouses and houses, available for private sale and shared ownership. Ideal for first time buyers, the homes offer flexible living, with high-quality interiors, alongside outdoor space in the form of a balcony, terrace, or winter garden. For purchasers who are keen to live in a well-connected London location, Prospect East offers unrivalled affordability. Prices for a one bedroom apartment started from as little as £105,000 for a 30% share. Located against the backdrop of the Olympic Stadium and East Village, the development provides affordable and well-designed homes, in an area in which the Olympic legacy continues to create a distinct and inspiring atmosphere.

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LATIMER | BANBURY PARK

READERS’ AWARDS

Banbury Park is a striking new mixed-use development in Walthamstow, northeast London, from Latimer. The residential-led scheme offers 350 one, two, three and four bedroom homes, available through shared ownership and private sale, and makes up a significant part of the Blackhorse Road regeneration area. Established on a former industrial estate, homes at Banbury Park successfully integrate the adjoining countryside with the urban area. They are designed to provide the space and facilities necessary for modern city living, that both embraces the current demographic of the area and welcomes new residents. The site brings fresh opportunities to Walthamstow, with state-of-the-art office space, complementary retail units, and sustainable landscape works. Banbury Park has opened up the area and developed a thriving, more attractive place for both residents and businesses, nurturing their wellbeing and the natural setting around them.

L&Q | STADIUM PLACE Located on the site of the former Walthamstow Dog Stadium, L&Q’s Stadium Place is a landmark affordable housing development for east London, offering 99 one to four bedroom, shared ownership apartments, townhouses and maisonettes, plus 95 affordable rent and 99 private rented homes. Revitalising a disused and neglected area, the exceptional new development was designed by multi-award winning Conran & Partners and HTA Architects. It offers a uniquely wide variety of affordable accommodation in an historic setting, alongside first class facilities for the community. The project includes the faithful restoration of the Grade II listed former stadium’s art deco façade, and the complete refurbishment of London’s largest wall of neon. This ground-breaking scheme has received praise from Historic England and attracted the attention of national and broadcast media – restoring an iconic and well-loved east London landmark, as well as creating an aspirational environment for first time buyers.

VIRIDIAN HOUSING | 6 RIVERLIGHT QUAY One of six eye-catching apartment buildings at St James ‘Riverlight’, 6 Riverlight Quay is set within the Nine Elms regeneration zone. The buildings feature a wealth of glazing and stunning gull-wing roofs designed by Rogers Stirk Harbour & Partners architects, but only in 6 Riverlight Quay will you find 116 unique one and two bedroom apartments available for shared ownership. With 18 different styles of apartments across 10 floors to choose from, purchasers weren’t short of options. An apartment with a winter garden, with views of the Battersea power station redevelopment, or an apartment with a balcony overlooking the beautifullydesigned landscaped garden, were just two of the options available. Whichever option purchasers went for, they could be certain of purchasing an apartment with an outstanding interior specification, including a contemporary fully-fitted kitchen, with integrated appliances, and a contemporary-style bathroom.

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BEST ONLINE SMALL DEVELOPMENT PROPERTY PORTAL AFFORDABLE HOMES

THIS AWARD WILL LOOK AT THE BEST PROPERTY PORTALS THAT OFFER CLEAR, PRACTICAL ADVICE AND EASY NAVIGATION.

PROPERTY MARKETING EXPERTS

MILLER HOMES Miller Homes’ fully-responsive website is not just an online tool, it’s central to their marketing strategy. All features on their website have been designed with the user in mind e.g: when searching for their new home, users receive actual properties for sale in the results and not just a list of the developments Miller Homes are building. Social media logins have been introduced and, once registered, users can choose to receive personalised plot alerts by email or SMS, save their favourite developments and book appointments. They will also be greeted with a personalised message on return visits and their most recently viewed properties will be displayed, alongside those that may be of interest. Miller Homes have ensured all content on the website is fully trackable, clear and engaging, by including lots of videos, interactive development plans, social sharing icons, galleries of photography, virtual tours, development fly-throughs and practical mortgage, Stamp Duty and Help to Buy calculators.

NEWHOMESFORSALE.CO.UK For first time buyers, there are few things as life changing as taking those first exciting steps on the property ladder and finally finding and buying your perfect first home. Newhomesforsale.co.uk is a dedicated new homes portal, featuring properties from the UK’s leading house builders. Newhomesforsale.co.uk is committed to bringing you one step closer to your first house, flat or apartment. With free buying guides and a comprehensive database of homes for sale throughout the UK, finding your ideal new home has now never been easier. You can filter by location, or development, see where your new home is, while also being able to request or download property information and online brochures direct from the developers. Newhomesforsale.co.uk makes your new home search hassle free, by bringing you the most relevant information you need, ensuring you’re the first to learn of new developments being built in your area and the very latest special offers and incentives available from the UK’s leading developers.

ZOOPLA PROPERTY GROUP Zoopla’s vision is to be the consumer champion at the heart of the home and their mission is to be the most useful resource for consumers when finding, moving or managing their home. Zoopla is the UK’s most comprehensive property website, helping first time buyers to research the market and find a home, by combining hundreds of thousands of property listings with market data and local information.

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BEST ARCHITECTURAL DESIGN

FINANCE

THIS AWARD IS FOR THE DESIGN OF A BUILDING THAT EXCEEDS NORMAL ARCHITECTURAL STANDARDS AND MAKES A SUBSTANTIONAL CONTRIBUTION TO THE LOCAL ENVIRONMENT.

PEABODY | ST JOHN’S WAY St John’s Way is a stunning regenerated development that has transformed the local landscape of St John’s Hill, Battersea. This exciting redevelopment of a tired 1930s estate has revitalised residents’ way of life through unique and robust architectural features, both inside and out. Phase 1 has seen St John’s Way become re-integrated with the wider community after a conscious decision to tear down the walls that once enclosed the forgotten estate. New public space and a convenient, pedestrianised path connect Clapham Junction to Wandsworth Common, creating a dynamic place to live. Each building benefits from its own striking architectural identity, achieved through unique, complementary brickwork. Inspired by local heritage, bespoke brick-relief artwork has also been expertly incorporated into the exterior design to enhance visual interest. The generously-proportioned and sustainable, affordable rent, shared ownership and private sale homes also all benefit from private gardens, balconies or terraces, alongside a landscaped communal garden.

DEVELOPING LONDON & STOCKWOOL | CLOCK HOUSE GARDENS Clock House Gardens transforms a derelict hotel site into an intimate community of 50 new homes within five two and three storey buildings, that combine brickwork with timber cladding and, together, create a central shared courtyard. The design solution responded to the site’s very particular context of the A1(M) motorway on one side and dense woodland on the other, with this modern take on a walled village seeking to reduce noise from the motorway. The high-quality aesthetic makes the scheme a unique and sensitive addition to the built fabric of Welwyn. Clock House Gardens is a totally flatted development, redressing a previous small home shortfall in Welwyn. Key to its success is the careful layering of building form: responding to the harsher environment on the edge of the site with robust brickwork, with a softer treatment of timber and glazing elsewhere to respond to the woodland. All homes are dual aspect to maximise on surrounding views. An extensive landscaping strategy introduces planting and greenery back to the site with the neighbouring lush woodland brought into the development through the large central courtyard.

TAYLOR WIMPEY EAST LONDON | ARENA PLACE At Arena Place, Taylor Wimpey East London has demonstrated how a faithful architectural redevelopment project can dovetail perfectly with newbuild design, to preserve the heritage of – and breathe new life into – an important historical site. The former Administrative Headquarters for Colchester Garrison Artillery Barracks has been transformed into this prestigious new development, with original architectural features of existing military buildings being sensitively maintained, alongside the thoughtful construction of contemporary newbuild homes, which echo appropriate traditional character. The original accommodation and ancillary buildings represent a range of architectural styles and typologies, and their grouping creates an individual piece of townscape which integrates this site into its local environment. As a listed building and heritage asset, Block A – a beautiful Victorian-age Italianate building – required any changes to be replaced like for like, including its stone-detailed third-floor roofline with overhanging eaves. Other notable design features include barrel-vaulted ceilings, timber windows and shutters.

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MOSTSMALL BEST INNOVATIVE DEVELOPMENT MARKETING CAMPAIGN AFFORDABLE HOMES

THIS AWARD WILL BE GIVEN TO THE MOST INNOVATIVE MARKETING CAMPAIGN THAT HAS BEEN CARRIED OUT USING ALL FORMS OF MEDIA. ENABLING FIRST TIME BUYERS TO FIND AFFORDABLE HOUSING, GOVERNMENT SCHEMES AND MORTGAGE DEALS.

BARCLAYS

As a long-standing supporter of ftbs and initiatives to tackle unaffordability, Barclays was determined to promote the Government’s London Help to Buy scheme as a preferred lender. To overcome poor awareness and scepticism, Barclays devised an integrated, multi-channel, content marketing campaign to inspire generation renters who felt priced out of the capital. The campaign utilised explainer videos, ATM messaging and in-branch postcards, with SEO work, ultra-engaging content and an online hub which promoted infographics, articles, case studies and an interactive map of the 10 most affordable London postcodes. By using content to inspire hope that people could get on the ladder, Barclays was able to capture around 23% of the London Help to Buy market.

MILLER HOMES

The ‘Taken care of’ campaign was developed to demonstrate that Miller Homes have everything taken care of when buying your first home. Using channels to target an ftb audience, such as social media, property portals, emails, sms and re-targeting, creative messaging highlighted the incentives and support available to ftbs, such as Help to Buy, deposit match, £99 reservation fee and paid legal fees. Innovative messaging also linked to mortgage, Help to Buy and Stamp Duty calculators, video testimonials from other ftbs, blogs and social media content. All content used the hashtag #takencareof to reinforce the message. The campaign has been a great success with engagement on social media, website visits and appointments booked significantly increasing.

FAMILY MOSAIC

The Gramercy, Greenwich is located in a popular area that has benefited from investment and regeneration. Family Mosaic’s marketing campaign targeted young buyers who were digitally competent, to raise awareness of the southeast London development. This inventive campaign contained one fundamental objective; to secure reservations on 20% of apartments off-plan, prior to a show home being available for viewings, and focused on the development’s locality, where the traditional and contemporary exist together. This was executed through cross-channel programmatic display, Facebook, PPC (pay-per-click), traditional offline media and blogger outreach, exceeding the campaign’s target objectives by reserving 34% of properties.

ORACLE GROUP & THE MEDIA PEOPLE

From 15-22 September 2016, Shared Ownership Week helped thousands of aspiring homeowners across the country to find out more about the scheme. A multi-media marketing campaign was aimed at a wide audience across a range of platforms, to promote shared ownership, including: newspapers and magazines; television; radio adverts; social media channels; plus a dedicated website, offering advice, mythbusting tips, buyer stories and information on homes available. The week was complemented by two high-profile events – the London Home Show, and the First Time Buyer Home Show in Manchester. The result was a comprehensive campaign, informing potential purchasers on what shared ownership is, how it works and how it can help them get on the property ladder.

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BEST SHOW SMALL DEVELOPMENT HOME

Sponsored by

AFFORDABLE HOMES

THIS AWARD GOES TO THE COMPANY WITH THE BEST SHOW HOME ALLOWING THE BUYER TO SEE THE PROPERTY TO ITS MAXIMUM POTENTIAL, GIVING THEM A REALISTIC INSIGHT INTO THEIR NEW HOME.

EAST THAMES | PROSPECT EAST

Prospect East is the first phase of a major new integrated neighbourhood in Stratford, east London, set around a central landscaped garden. This landmark development comprises a contemporary collection of apartments, duplexes, maisonettes, penthouses and townhouses, available for private sale and shared ownership. The aim was to provide ftbs with an aspirational, yet attainable design. The show home provides a realistic insight into what can be achieved on a first timer’s budget and how to make the most of a new home at Prospect East. The two bedroom maisonette show home, designed by Suna Interior Design, captures the site’s former life as Stratford Works, once the largest railway works in Britain.

ORIGIN PROPERTIES | BROOKMANS

Brookmans Park in Hertfordshire, is one of Origin’s first entirely private sale schemes to date, which remains accessible for ftbs and families looking for extra space in a leafy, family-friendly environment, a short commute from central London. With an emphasis on quality and style, the forward-thinking housing association have decked out the four bedroom show home with only the highest quality finishes. Creating a truly aspirational environment for ftbs, Origin opted for a palette of neutral on-trend greys, layered with a host of tactile textures. Demand has been high for these exceptional properties and, despite difficult market conditions, at Brookmans, over 50% of the homes are now reserved, outselling similar developments in the area.

MAGNA GROUP | MAGNA WEST

Founded in 2015 by Chris Madelin and Oliver Mason, Magna Group, the homebuilder, was set up to deliver affordable luxury homes for all. Such a vision has already started to take shape, with exponential growth over the last two years and a current GDV of £130 million. Magna Group is currently building nine luxury developments in Surrey and Hampshire, all offering perfect first home purchases. Magna West in West Byfleet, just 40-minutes from central London, comprises 22 one bedroom units and five duplexes. Fixtures and fittings include NEFF and Miele appliances, high-spec sound and lighting systems, marble bathrooms, oversized shower units and Axor Hans Grohe taps and showers. Lead-in prices for Magna West homes start at £205,000, with Help to Buy options.

PEABODY | THREE COLTS LANE

Located in the heart of London’s East End, Three Colts Lane draws on the creativity of this former industrial area to provide a stylish collection of apartments. Offering shared ownership and Help to Buy London options, Three Colts Lane provides 18 first time buyers the opportunity to purchase a striking, high-spec home in highly sought-after Bethnal Green. Designed by renowned East London design consultancy Studio Morton, the show home reflects the tastes and creativity of ftbs in the area, fusing cool familiarity with high-quality design. Decorated with affordable furniture from high street brands, bespoke artwork by local artists, and finished with a striking colour scheme, the Three Colts Lane show home embodies modern London living.

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BEST FIRST SMALLTIME DEVELOPMENT BUYER FAMILY HOME AFFORDABLE HOMES

THIS AWARD IS FOR A FAMILY STARTER HOME WHICH IS AFFORDABLE FOR A FIRST TIME BUYER. IT SHOULD OFFER A COMFORTABLE ENVIRONMENT, AT A REALISTIC PRICE WHICH IS IDEAL FOR FAMILY LIVING.

BARRATT KENT | PHOENIX QUARTER The Helmsley is a highly popular style of family home, created by Barratt Homes at its Phoenix Quarter development in Dartford, Kent, currently available from £365,995. As well as providing generous living spaces across three floors, this highly attractive home design is available with the government-backed Help to Buy equity loan scheme and can be bought with a 5% deposit. From its open-plan kitchen/diner to the three evenly-sized double bedrooms, as well as separate and versatile living spaces, this stylish property ticks all the boxes. Barratt Homes understands that families want sociable, easy to manage, spacious and quality living spaces. With a great transport network on the doorstep, this home offers great value for homebuyers in the South East.

HOME GROUP | LYMINGTON FIELDS Lymington Fields is a cutting-edge, contemporary design in the east London suburb of Dagenham. Home Group is delivering the affordable homes in partnership with Lovell Homes, offering 112 affordable rented and 47 shared ownership, one and two bedroom apartments and two and three bedroom houses. The vision for Lymington Fields is clean, green and a highly sustainable community, where families can flourish and grow. The light, spacious, high-standard family homes all have attractive exterior designs, providing a cosy contemporary living environment. All are Lifetime Homes compliant and some are wheelchair adaptable, truly reflecting a lifetime home for residents, who will be able to grow older in a home that will adapt to their long-term needs. Our scheme is pivotal in providing an affordable opportunity for customers to step on to the property ladder, making the dream of home ownership an achievable aspiration.

LATIMER | BANBURY PARK Banbury Park is a striking, new, mixed-use development in Walthamstow, northeast London. The residential-led scheme offers 350 one, two, three and four bedroom homes through shared ownership and private sale, available with Help to Buy at excellent entry price points for London, catering to the established need for affordable, high-quality family homes in the capital. Banbury Park is a prime location for first time buyer families. Interiors are designed with durability and wellbeing in mind, amplifying light and space. It connects residents to established educational institutions with ease and supports sustainable transport routes. Thoughtful landscaping and site layout at Banbury Park successfully integrates the adjoining countryside with the urban area, providing secluded, safe family living. The site has also brought wider opportunities, with state-of-the-art office space, complementary retail units and sustainable landscape works, opening up the area and developing a stable, more attractive place to settle down.

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MILLER HOMES | THE HAWTHORNE

READERS’ AWARDS

The Hawthorne is one of the stand-out family homes at The Gables development in the medieval village of Steventon, in rural Oxfordshire. Ideal for those looking to get a foot on the property ladder, The Hawthorne is a spacious, semi-detached three bedroom home, with many features which make it perfect for family living and luxurious touches not often seen in starter homes. Despite its location in one of the most desirable counties in England, The Hawthorne has been priced with affordability in mind and this has been further increased by availability of offers, such as Help to Buy and contributions towards Stamp Duty. As a result, all of The Hawthorn homes at The Gables sold out within a couple of weeks of their release to first time buyers – demonstrating their popularity with this demographic.

PLUMLIFE | BREARLEY FORGE Plumlife, the sales specialists at Great Places Housing Group, recently launched Brearley Forge, 12 two, three and four bedroomed homes built by Keepmoat in the Parson Cross area of Sheffield. These family houses are the first collection of shared ownership properties created by Sheffield Housing Company (SHC), a joint venture between Sheffield City Council, Keepmoat and Great Places. All semi-detached properties are specifically aimed at family buyers and include modern energysaving systems and contemporary designs. The spacious layouts, consisting of bright kitchens, landscaped rear gardens, well-proportioned bedrooms and two off-road parking spaces, appeal to larger households. A tree-lined park backs the site, which is perfect for young children to play in. Homes were for sale through shared ownership and proved to be a great way for local first time buyers to step on to the property ladder in an established community. Demand was incredibly high and all properties were reserved within 12 weeks of the VIP launch.

ST. MODWEN HOMES | GLAN LLYN Boasting stylish, contemporary house designs, Glan Llyn is proving to be a firm favourite with first time buyers in South Wales. In fact, first time buyers make up nearly 50% of all purchasers; 88% of which have used the Government’s Help to Buy scheme. One of the fundamental reasons why the houses are proving popular is St. Modwen Homes’ belief that first time buyers shouldn’t have to compromise on design or quality. Therefore, the properties include luxury finishes as standard, including French doors, outdoor terraces and Juliet balconies, designer kitchens and chrome fixtures. It’s not just the design of the new homes that’s attracting first time buyers to Glan Llyn; when complete, the development will boast a range of facilities, including new shops, leisure space, a school, doctor’s surgery and employment opportunities. Not to mention that the new homes are surrounded by 80 acres of parkland and new lakes. No wonder 100% of purchasers would recommend Glan Llyn to a friend.

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BEST NEW BEST SMALL DEVELOPMENT DEVELOPMENT IN THE NORTH AFFORDABLE HOMES

THIS BRAND NEW AWARD CATEGORY FOR 2017 IS FOR THE BEST DEVELOPMENT OF ANY SIZE IN THE NORTH OF ENGLAND (BIRMINGHAM AND ABOVE). AN AREA OF THE COUNTRY WHERE HOUSEBUILDING IS INCREASING AND OFFERS A HIGHLY COMPETITIVE MARKET PLACE, THIS AWARD RECOGNISES AN EXCEPTIONAL RANGE OF NEW HOMES THAT STAND OUT FROM THE CROWD, WHILE REMAINING ACCESSIBLE TO FIRST TIME BUYERS.

HENLEY HOMES

Barnes Village is a Grade II listed historic site near Stockport, comprising 38 apartments and townhouses constructed within and attached to a restored French Gothic Revival hospital building, and 117 newbuild, two to four bedroom properties in the 16.5-acre grounds. Henley’s conversion will bring a new chapter to the old building. Spacious, modern homes with sharply-pitched roofs and large windows echo the drama of the old, but with the elegance and convenience of the new, alongside accessible transport connections and links to surrounding communities. Prices start from £145,000 (one bedroom conversion apartment) to £425,000 (new four bedroom house), an average of £252 per sqft. Eligible for Help to Buy, completions start in spring 2017.

PLUMLIFE

Leesbrook View, Plumlife’s development in Lees, was created to appeal to local buyers looking for a semi-rural feel on the outskirts of Oldham. All 22 homes, built by Countryside, cater for a range of buyers, with detached, semi-detached and terraced, two, three and four bedroomed properties available. Abundant gardens echoing the nearby Leesbrook Nature Park, also mean the development is safe and peaceful. The light and modern design, alongside the calm environment created with on-site landscaping, brought strong sales at this site. 57% of reservations were taken off-plan with purchasers buying through shared ownership, outright sale and Help to Buy. Plumlife worked with Oldham Council to ensure only buyers with a link to the area could purchase a home.

HOME GROUP

This exciting flagship regeneration development has brought a run-down area of old, cramped and outdated properties back to life, replacing them with affordable, modern, three and four bedroom terraced homes, filled with light, space, gardens and energy-saving features. Once complete, the Gateshead development will see 99 uniquely-styled terraced family homes, with 76 for outright sale, 10 shared ownership and 18 affordable rent. Families are delighted with our highspec, bespoke new homes and enjoy the same high standard features, whether they live in affordable rented, shared ownership, or privately owned properties. The area has been brightened through the use of public art. As well as private gardens, residents also have community space.

RIVERSIDE HOME OWNERSHIP

Eardley Park in Congleton is Riverside’s flagship development of 84 affordable homes in Cheshire. With 44 of the properties available through shared ownership, Riverside Home Ownership offers ftbs and other eligible purchasers the opportunity to purchase a home in this highly desirable part of the North West. Traditionally an area of high property values, ftbs in Cheshire have been increasingly priced out of the market. Purchasers at Eardley Park buy the share they can afford and pay a reduced monthly rent on the remainder, with the option to own outright in the future. All properties include high-quality fixtures and finishes throughout, and buyers benefit from advice and support from RHO’s expert team throughout the whole process and beyond.

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BEST NEW BEST SMALL DEVELOPMENT DEVELOPMENT IN THE SOUTH AFFORDABLE HOMES

THIS BRAND NEW AWARD CATEGORY FOR 2017 IS FOR THE BEST DEVELOPMENT OF ANY SIZE IN THE SOUTH OF ENGLAND (BELOW BIRMINGHAM). A HIGHLY COMPETITIVE MARKET PLACE, WHERE THE CONSTRUCTION OF NEW HOMES IS INCREASING, THIS AWARD RECOGNISES AN EXCEPTIONAL RANGE OF NEW HOMES THAT STANDS OUT FROM THE CROWD, WHILE REMAINING ACCESSIBLE TO FIRST TIME BUYERS.

HENLEY HOMES

Rembrandt House in Watford is a unique, historic property of a quality rarely available to ftbs. It has been created from a landmark listed building, with a beautiful Edwardian façade, on a 3.4-acre site. Henley have transformed the high-ceilinged and light-flooded interior into 43 one, two and three bedroom apartments, some with mezzanine levels, while restoring the 120m-long neo-classical exterior. Careful thought was given to maximising space and making a feature of the huge windows, whilst retaining energy efficiency. Ample parking and transport links allow easy connections. Thirty apartments were for private sale averaging £477 per sqft (with only a handful remaining) and 13 are available via Origin Housing Association.

SOUTHERN HOUSING GROUP

The Featherstone is a £32 million urban development in central London, comprising 65 properties, including 46% affordable homes for ftbs, which exceeds normal planning requirements. Southern Housing Group, one of the largest housing associations in southeast England, have commissioned and will be managing the unique collection of one, two, three and four bedroom apartments and duplexes, set across 20 affordable and 35 private sale homes. The Featherstone was developed without government funding, therefore the sale of the open market homes are essential to providing cross-subsidy funding for affordable homes. Southern Housing Group are confident the range of property sizes and tenure will encourage a real mix of residents.

MAGNA GROUP

Founded in 2015 by Chris Madelin and Oliver Mason, Magna Group, the homebuilder, was set up to deliver affordable luxury homes for all. Such a vision has already started to take shape, with exponential growth over the last two years and a current GDV of £130 million. Magna Group is currently building nine luxury developments in Surrey and Hampshire, all of which offer perfect first home purchases for ftbs. Magna West in West Byfleet, 40-minutes from central London, comprises 22 one bedroom units and five duplexes. Fixtures and fittings include NEFF and Miele appliances, high-spec sound and lighting systems, marble bathrooms, oversized shower units and Axor Hans Grohe taps and showers. Magna West homes start at £205,000, with Help to Buy options.

TAYLOR WIMPEY EAST LONDON

Taylor Wimpey’s brand new Eclipse development in east London is one of the most prestigious and stylish schemes the homebuilder is undertaking in the south of England. Set in Walthamstow, this collection of one, two and three bedroom apartments offers ftbs a fantastic opportunity to step on the property ladder in a highly-desirable part of the capital. As well as being designed to a high specification, the apartments each feature open-plan kitchen/living/dining areas, leading to an elegant private balcony or terrace, and are low maintenance, energy-efficient and require no repairs, or upgrades. Walthamstow has recently undergone extensive regeneration and, with excellent transport links, Eclipse is the ideal spot for young professionals working in the capital.

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BEST SMALL PRIVATE DEVELOPER DEVELOPMENT OF THE YEAR AFFORDABLE HOMES

THIS AWARD WILL FOCUS NOT ONLY ON THE DESIGN AND QUALITY OF THE PROPERTIES BUILT, BUT ALSO ON ALL ASPECTS OF THE DEVELOPER’S PERFORMANCE.

BARRATT DEVELOPMENTS

Barratt Homes is the UK’s leading housebuilder, playing a crucial role in the delivery of the shortfall of new homes needed. Taking its commitment to ftbs very seriously, last year Barratt sold around 40% of its new homes to first timers – always going the extra mile to provide a helping hand. Embracing schemes like Help to Buy, Barratt helps thousands of ftbs to buy quality properties in great locations. Continually evolving, developing and redesigning their new homes, and building for the future within vibrant communities, Barratt continues to lead the agenda for housebuilding. The only major national housebuilder to achieve a five-star status for the 7th year in a row for customer satisfaction, Barratt keeps its buyers’ needs at the heart of its business.

SIGNATURE LIVING GROUP

The Signature Living Group is one of the UK’s fastest growing property developers, specialising in long-term and short-term accommodation solutions, residential and hotels. Headquartered in Liverpool, the company is regarded as a serious leader in the redevelopment of ‘forgotten’ buildings, for which it has received major acclaim. The redevelopment of Daniel House, – a former office block – into highly desirable residential apartments, and the transformation of Liverpool’s 60 Old Hall Street into first-class apartment living suited to ftbs, are both staples of the Signature Group’s portfolio. This year, Signature Living Group is set to embark on a greater expansion programme across the UK, with sites earmarked in Cardiff, Manchester, Newcastle and London.

MILLER HOMES

We recognise that buying a new home is a significant lifetime purchase and, with one third of our homes sold to first time buyers annually, we have a strong understanding of this market and a desire to meet its needs. Our success with this demographic is achieved through the delivery of ‘The Miller Difference’, our promise to provide first time buyers with all the help and support needed throughout their customer journey, as well as offering affordable, high-quality homes in places where we are confident they would like to live. We deliver this in a number of ways, with the information and assistance we provide, incentives and offers we have available, regular communication using various methods and channels, and our ongoing commitment to high standards.

TAYLOR WIMPEY EAST LONDON

Part of leading UK housebuilder Taylor Wimpey plc, Taylor Wimpey East London offers a wide selection of highquality, brand new homes at developments across Essex and Greater London. They continue to set the standard for delivering premium homes and superb value for first timers, with apartments, starter homes and affordable, family-size properties to suit all buyers’ needs. Indeed, ftbs comprised 70% of Taylor Wimpey East London’s customers in 2016. Taylor Wimpey East London is committed to maintaining highest standards of health and safety, promoting environmental sustainability and energy efficiency and encouraging innovative design, and experienced sales staff are on hand to assist throughout the homebuying process.

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BEST SMALL DEVELOPMENT AFFORDABLE HOUSING PROVIDER OF THE YEAR AFFORDABLE HOMES

THIS AWARD WILL GO TO AN ORGANISATION THAT HAS SHOWN INNOVATION IN THE WAY THEY DESIGN, BUILD AND MARKET THEIR PROPERTIES AS WELL AS OFFERING A VARIETY OF SERVICES WHICH CAN HELP FIRST TIME BUYERS ON TO THE PROPERTY LADDER.

CATALYST Catalyst is a developing housing association that operates across 40 local authorities in London and the South East. As well as providing housing for the most vulnerable in society, Catalyst recognises how difficult it can be for first time buyers in the current climate and so offers a variety of services and products to make it as easy as possible for customers to purchase their first home. Not only delivering high-quality housing, Catalyst prides itself on its ability to build thriving communities that people genuinely want to live in. Catalyst’s long-term relationship with its customers and its properties means that its approach to housebuilding helps create a sense of place around its developments. All of this is supported through Catalyst Gateway, the organisation’s award-winning social and economic investment arm, that regularly provides life-changing opportunities for customers.

L&Q With a track record in creating truly aspirational homes for first time buyers, L&Q offer a wide range of shared ownership developments to suit a vast spectrum of buyers across the capital and beyond. Having recently completed a merger with East Thames Group, firmly positioning L&Q as one of the UK’s most prominent housing associations, the organisation is dedicated to upping its delivery of new homes – meeting the growing needs of first time buyers in a climate where property prices continue to rise. It has been reported that L&Q is involved in the delivery of approximately one in five new homes in London. The organisation increased its development programme by 24% last year, with an impressive long-term pipeline of up to 100,000 new homes in the next 10 years (an unprecedented level for a housing association). Firmly gripped by its socially responsible routes, L&Q is dedicated to ensuring that a minimum 50% of its long-term pipeline will be affordable.

NEWLON HOUSING TRUST Newlon Housing Trust is an innovative provider of new affordable housing and shared ownership homes, to help people take a first step on the property ladder. Our primary focus is in north and east London and we have been one of the capital’s main providers of new affordable homes for the last decade. We have specialised in developing sites on land that has fallen into disuse. Our recent developments at Cannon Road, Isobel Place and Hale Village showcase our ability to regenerate brownfield sites to create new and sustainable communities. Working with our care and support partner, Outward, we are also one of the very few providers of HOLD, which supports adults with learning disabilities to be able to buy their own home through shared ownership. Also, as part of our commitment to communities we have a dedicated team who support our residents into employment and run local community facilities.

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Sponsored by

FINANCE

buyer

NOTTING HILL HOUSING

READERS’ AWARDS

With a portfolio of over 31,000 homes in 31 of the 32 London boroughs, Notting Hill Housing is one of the capital’s largest housing associations, providing quality homes for those who couldn’t otherwise afford them. Pioneers of shared ownership, Notting Hill Housing is motivated by the positive impact that good-quality, affordable housing has on people’s lives. In the past 12 months, the developer has launched seven new developments, bringing over 200 new homes to London’s property market, with another 265 units to launch in 2017. Offering a variety of properties, from one bedroom apartments to four bedroom houses, available with a range of schemes including shared ownership, shared equity and Help to Buy, first time buyers across the capital can find a home with Notting Hill Housing

ORBIT This year marks Orbit’s 50th year of building communities. The affordable housing expert recently celebrated a major milestone, with 5,000 new homes constructed (since 2013) against its 2020 target of 12,000, and more than 40,000 completed overall. Orbit strives to maximise availability of affordable housing and to deliver well-designed, sustainable homes and communities, at a price people can actually afford. It works in partnership with local planning, development and housing teams, councils, existing customers and other stakeholders, to ensure its schemes meet the real needs of local people. Orbit offers a raft of services, including shared ownership and Help to Buy, to help first time buyers get on the property ladder. Its sales staff are trained to help lower income households access home ownership, and all its properties have affordability, durability and sustainability built into their fabric. Orbit believes that all affordable homes should also be highly desirable and of excellent quality.

THAMES VALLEY HOUSING Thames Valley Housing (TVH) is a forward-thinking and innovative housing association, unlocking new housebuilding opportunities in London and the South East. Through its diverse building model and range of innovative partnerships, TVH builds over 1,500 homes each year. TVH increases homeownership chances for struggling lower and middle incomers and helps people stay in their homes, all while growing the social fabric in communities. Providing a combination of traditional rented housing, private rented sector, shared ownership, key worker, private sale and student accommodation, TVH is changing the perceptions of affordable housing by creating high-quality homes that are tenure-blind, both on the outside and inside. Keen to stay ahead of the curve and demonstrate its genuine care for customers, TVH continually develops its customer journey. TVH has innovated the traditional shared ownership model and is the only housing association to offer the Shared Ownership PLUS scheme. TVH also offers other first time buyer schemes, including Help to Buy, shared ownership and resale.

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BEST SMALL DEVELOPMENT AFFORDABLE HOMES

buyer

HOW TO VOTE

READERS’ AWARDS

VOTE NOW FOR YOUR FAVOURITE IN EACH CATEGORY AT FTBAWARDS.COM AND YOU COULD WIN £250 IKEA VOUCHERS! Voting closes at midnight on 10 April 2017. FTB Award winners will be announced during the Awards Lunch at the Waldorf Hilton in London on 21 April 2017. A full list of winners will be published in the June/July issue of First Time Buyer.

TERMS & CONDITIONS • • • •

•

Your details will automatically be entered in a free draw to win £250 Ikea vouchers. Voting closes on 10 April 2017. The winner of the vouchers will be notified by email. Voting is open to First Time Buyer readers, aged 18 and over, with the exception of employees of shortlisted nominees, their immediate families, agents, or anyone else associated with the administration or production of these awards. Random authenticity checks will be made.

SPECIAL THANKS TO ALL OF OUR SPONSORS

PROPERTY MARKETING EXPERTS

Pre and post drinks sponsor

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ACCESSORIES

Easter is a fun and festive family occasion. Whether you are having an Easter brunch, or a Sunday lunch, these exciting decorations make the day something to remember

Easter roulette, £5.99, Lakeland

Easter tree decorations, from £1; Easter egg baubles, from £1; sheep decorations, £5; garden rabbits, £4, Tiger stores

Bunny bunting, £8.99; 20 paper napkins, £3.99; 12 paper plates, £3.99; Table cover, £4.79, Lakeland

Sheep decorations, £5, Tiger stores

Easter pasta, £3.29, Lakeland

C O N TA C T S » Lakeland lakeland.co.uk » Tiger Stores uk.flyingtiger.com

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COMPETITION

Mighti mowing power With the warmer weather just around the corner, it’s time to get the lawnmower out for the first time and give the garden a tidy up for spring Whether you have just a small patch of grass or a large garden space, it’s important to have the right gardening tools to keep the lawn looking neat and tidy. Make sure your garden is in shape, with the help of Flymo’s new Mighti-Mo 300 Li lawnmower and Contour Cordless XT grass trimmer and lawn edger. Research has highlighted 45% of men and 46% of women' find mowing the lawn a chore, but with the Mighti-Mo 300 Li and Contour Cordless XT, you can make quick work of mowing and trimming, providing the ultimate fuss-free gardening experience. The Flymo Mighti-Mo 300 Li is lightweight, compact, quiet and easily stored. Its rechargeable Lithium-Ion battery makes for a surprisingly powerful performance, with the capacity to mow a lawn up to the size of a tennis court on a single charge. It has five different cutting heights, that can be conveniently changed by a single lever, and also includes a safety key, which needs to be inserted to enable the mower – making it ideal for families with children. The Flymo Contour Cordless XT is the perfect gardening tool. Its unique design gives you a cordless trimmer and lawn edger in one. With Flymo’s unique edging wheel, you can efficiently trim the contours of your lawn. It also comes fitted with a plant guard for normal trimming, so you can trim near to flowers and plants without the risk of damaging them.

WIN!

A FLYM O MIG HTI-MO AND C 300 Li ONTOU R CORD XT GAR LESS DENIN WORTH G SET, £272

HOW TO ENTER Answer the following question:

How many cutting heights does the Mighti-Mo have? Send your answer with your full name, address and telephone number to: lynda@firsttimebuyermag.co.uk Closing date: 14 May 2017

THE PRIZE… 2 MIGHTI-MO 300 Li 40V AND CONTOUR CORDLESS XT 18V GARDENING SETS, WORTH £272 EACH T&Cs The prize is non-transferable and no cash alternatives will be given. Competition is open to UK residents only.

flymo.com/uk ' YouGov PLC survey. Sample size 2048

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FIRST MEAL

FIRST HOME, FIRST MEAL When it comes to mastering the art of Chinese cooking, who better to turn to than chef Jeremy Pang for inspiration, so you can soon be stir-frying, steaming and sizzling your way to delicious meals for the family. Here he creates Sichuan chicken stir-fry, featured in his latest book, Chinese Unchopped Ingredients (Serves 4)

SICHUAN CHICKEN STIR-FRY

         

1⁄2 onion 1 red pepper 400g boneless chicken thighs 3 garlic cloves 1 bird’s-eye chilli 1 spring onion 2 teaspoons Sichuan peppercorns 10 dried red chillies 200g cashew nuts 11⁄2 tablespoons vegetable oil

For The Marinade 1 teaspoon sesame oil 2 teaspoons granulated sugar A large pinch of Chinese five-spice 3 tablespoons light soy sauce 11⁄2 tablespoons cornflour

    

For The Sauce  2 teaspoons chilli paste or

chilli bean paste  2 tablespoons light soy sauce  2 tablespoons hoisin sauce  3 tablespoons rice wine

METHOD 1

Slice the onion and red pepper into fine matchsticks and the chicken into 3cm-wide strips. Put the chicken into a small mixing bowl, add the marinade ingredients and, using your hands, massage the pieces until they are evenly coated. Finely chop the garlic and bird’s-eye chilli, and finely slice your spring onion. Crush the Sichuan peppercorns with a mortar and pestle. Mix all the sauce ingredients together in a small bowl or ramekin.

BUILD YOUR WOK CLOCK (See box for details of what a Wok Clock is). Place your sliced onion at 12 o’clock, then arrange the peppers, dried chillies, chicken bowl, crushed peppercorns, garlic, bird’s-eye chilli, sauce bowl, cashew nuts and spring onions clockwise around your plate. COOKING 1

Heat one tablespoon of vegetable oil in a wok over a high heat until smoking hot. Add the onions, red peppers and dried red chillies and stir-fry for one to two minutes, until the onions are lightly browned and slightly softened.

100

Reduce the heat to medium (so as not to burn the onions), push the veg to the side of the wok and add 1⁄2 tablespoon of vegetable oil to the centre. Bring the wok back to smoking point, add the chicken and stir-fry for three to five minutes until golden brown on all sides. Lower the heat to medium, add the crushed peppercorns and garlic to the wok and stir-fry for a further two minutes, then add the bird’s-eye chilli and sauce and continue to stir-fry over a mediumhigh heat for another two minutes, or until the sauce has thickened and reduced and is sticking to the chicken. Add the cashew nuts and cook for a final 30–60 seconds, tossing the wok to combine all the ingredients well. Tip on to a large plate and scatter the spring onion over the top to finish.

SWAPSIES Can’t find Sichuan peppercorns? Swap them with a mix of crushed juniper berries and chilli flakes. TIP: If you’re a keen chilli eater and fancy something with a little more punch then throw in a mixture of different types of chillies here: dried or fresh, whatever you can get your hands on.

Jeremy comes from three generations of Chinese chefs. He attributes his love of food to his father, who was keen for him to experience exciting flavours and exotic foods when he was a young boy. After several career changes, time spent as a travel journalist in South East Asia and the loss of his father, Jeremy decided follow his heart and bring the world of Chinese cuisine to fellow food enthusiasts. In 2009 he established the School of Wok in London, a mobile cookery school specialising in teaching eastern cuisine to students in the comfort of their own homes. The School of Wok opened its first permanent professional kitchen in Covent Garden in 2012. Over the years Jeremy’s expertise in the Chinese food industry has continued to gain recognition, winning both Rising Young Star and Best Specialist Cookery School at the British Cookery School Awards in 2015. He has also appeared on several TV shows including Nigel Slater’s Simple Cooking and Channel 4’s Sunday Brunch. Jeremy is now the executive development chef at Cha Chaan Teng in London and Zing Zing takeaway group. He has also been asked by Ken Hom to train his Michelin-starred chefs in the art of dim sum out in Rio de Janeiro, Brazil. Jeremy Pang Chinese Unchopped £20 from Lakeland lakeland.co.uk

The Wok Clock Wok cooking is a very quick process, so by setting up a wok clock, using the face of a plate like the face of a clock, means you will be very organised. Setting out the ingredients from 12’oclock and then going round, you can eliminate the time it takes to go back to your recipe and see what comes next. This will lower the risk of burning anything and also lets you enjoy the whole cooking process.

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FIRST MEAL

FTB’S FAST FOOD Easter is everyone’s favourite time of the year, where we all look forward to indulging in some delicious chocolate goodies. We tried a variety of Easter eggs and treats from the UK’s top supermarkets, to see which ones were the tastiest

TEST WINNER

EASTER EGGS

M&S

SAINSBURY’S

TESCO

ASDA

Laid back lamb, £15; Star Wars R2D2 chocolate egg, £7; Speckled egg surprise, £8; Milk chocolate golden swirl egg, £15

TtD Belgian chocolate salted caramel egg, £6; TtD Swiss dark chocolate bunny, £6; White chocolate egg with gummy mix, £1

*Finest Belgian milk chocolate truffle egg, £9.00; Chokablok Billionaire’s Dynamite, £10.00; Rainbow the Unicorn, £3.50

Extra Special golden egg, £8; Rabbit hutch egg, £6; Extra Special honeycomb egg, £6

FTB SAYS: These eggs were well-

eggs here, especially as they all

FTB SAYS: These eggs were a

FTB SAYS: The salted caramel egg

priced and good value. We loved the

looked amazing, but didn’t break the

little expensive but, as they are so

was thick and rich and the flavour

creamy milk chocolate in the Belgian

bank. The golden egg had a metallic

luxurious, we thought they were worth

worked excellently with the Belgian

truffle egg, which had a great

shimmer and was eye-catching, but

it. The Peruvian chocolate in the

chocolate. The dark chocolate bunny

flavour. The unicorn, however, was

the truffles lacked flavour and were

golden swirl egg was mouthwatering,

melted in the mouth; its intense

a little lacklustre and the chocolate

a little sticky. The honeycomb egg

as were the champagne truffles. The

flavour was strong, without being

didn’t have much flavour.

was very moreish and had a great

speckled egg with a surprise bag of

bitter. The children’s white chocolate

design. The rabbit hutch egg is cute,

mini eggs inside was good fun, and

egg with the gummy treats was eye-

wasn’t overly sweet, and would be

the R2D2 egg is a must for Star Wars

catching and fun and, for £1, is very

great for younger family members.

fans everywhere. The laid back lamb

purse-friendly.

FTB SAYS: We loved the variety of

was eye catching, the chocolate was rich and creamy and it would make a great Easter gift.

MUST HAVE Little Lofty the Giraffe is a milk, white and dark chocolate giraffe that will melt the hearts of young and old alike. Super sweet, with a deliciously rich flavour, it is sure to be a real favourite this Easter. Little Lofty, £8.49, Lakeland lakeland.co.uk

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LEASEHOLD

GOVERNMENT, HOUSING AND YOUR HOME

The housing market is front and centre of political debate at present. Roger J Southam, Non-Executive With the launch of the Housing White Paper, the Government has Chair of Leasehold Advisory Service signalled a clear commitment and intent to tackle the severe housing shortage. The widest ranging paper ever is seeking to tackle four areas: planning, construction, choice of renting or buying, and help to get on the ladder For the first time buyer, the Housing White Paper is of huge importance. If we can see the planning system facilitate more homes and if faster construction process increases delivery, then this will have an impact on affordability. This is aside from government initiatives that already exist, such as Help to Buy. The majority of new properties will naturally be leasehold, because blocks of flats afford an opportunity to create a large number of homes in the most efficient space. The Housing White Paper has signalled the intent to relook at Commonhold as an alternative tenure to leasehold and encourage the development market to embrace it. Of course, for you in your first home, it is still a matter of communal living, and having the buildings well managed is essential. Leasehold property is a complicated way to own a property, but if you have knowledge and awareness of your rights and responsibilities, then you are better equipped to enjoy your home. If you have knowledge on leasehold, then you can better know when things are right or wrong. Choice of tenure is an area where the Government has now nailed colours to the mast for encouraging the professional build-to-rent sector to flourish alongside the home ownership ideals. The really exciting part of the White Paper is the desire to help leaseholders.

What this help will look like is yet to be seen in detail, however, and there will be further information to follow. What we know for sure is that the Government are committing to addressing the excessive ground rents that have become prevalent. We know the Government wants greater transparency and fairness in the management of properties. Coupled with the Government activity, there is a media spotlight on ground rents and leasehold houses. Developers are now committing to ensure that houses are sold freehold where possible and avoiding the temptation to achieve extra revenue streams from the ground rent investment value. This can all sound complicated and slightly crazy. But, for those of you who have played MonopolyTM, that is what is happening day in and day out with financiers and institutions within the property market. Bricks and mortar offer a secure revenue stream and an opportunity to achieve solid

income returns. The emotive part is how this looks, considering it is dealing in people’s homes. Of course, the depression of 2007 was all to do with mortgages on properties, where people were ill-equipped to meet the repayments – called sub-prime mortgages. So, in reality, financial engineering and investment streams for pension funds will use property to provide their returns. Perhaps, therefore, we need to take a step back and look at the ownership process, to better understand what really is needed to ensure home owners in leasehold are all treated fairly, and that they know they are treated fairly. The Leasehold Advisory Service recently had a leaseholder conference. It was free to take part and well attended. All the questions raised from the audience on the evening related to properties where the leaseholders owned the building, so they had no landlord in effect. What is particularly interesting about

this, is the fundamental point that communal living is not for everyone. One element that all the legislation in the world will not cure is the ability for people to get on, or for people to accommodate each other. If someone doesn’t want to spend money, any budget for service charges is too much. If someone is controlling, anything could cause upset and conflict. Some people are just not cut out to live in blocks of flats. If we look back to the start of the buying process, then we really need to have estate agents better educated on leasehold, and the obligations and commitments it presents. This requires the National Association for Estate Agents to engage and drive better knowledge within estate agents and to pass on to buyers the salient information about the leasehold properties. In summary, the Housing White Paper and the commitment of the Government to drive the housing solutions is to be warmly welcomed. What is needed is the developers, planners, property managers, investors and, of course, the estate agents to all work together to deliver a strong and well-supplied housing market. Can the shortfall of homes be tackled? Well, in short, yes it can, but it will take fundamental changes. Let’s hope the market rises to the challenges. lease-advice.org

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FINANCE

Credit Clinic

Experian expert, Joe Green,, answers your credit-related questions If you have a question for Joe, please get in touch by emailing us at lynda@firsttimebuyermag.co.uk and you may see your question answered in the next issue.

Self employed I am self-employed, and have been for the past five years, and I have finally saved up for my first home. I am about to apply for a mortgage, but will being self-employed show up on the credit check? Will it make it harder to get approved for a mortgage? Ruth Dalster

thinking of swapping my bank account over to them, so they see me as more favourable. Will changing banks affect my credit rating? George Palmer

Well done saving up that all-important deposit. It’s no mean feat in today’s financial climate, particularly with private rent payments recently hitting record levels. The credit check will reveal your borrowing track record over the past six years, plus other relevant public records, such as court judgments and insolvencies – I hope you have none of those. It’s important to have an excellent track record, so make sure you review your credit report early in the process and make sure it’s in good shape. The credit check (i.e. your credit report) won’t include details about your occupation and income as that is not information the credit reference agencies hold. However, mortgage lenders will carry out an additional assessment that focuses on what’s called affordability. They will scrutinise your income and your outgoings, and will essentially stress-test your finances, both now and in the future, for example, should interest rates rise. Being self-employed makes it likely the lender will want documentary evidence of your income for at least the last two years. It’s worthwhile checking this in advance with any lender you plan to approach, whether directly, or via a mortgage broker, so you can have the relevant paperwork at the ready and avoid any hitches.

It’s great to hear that you’ve found a better deal on your bank account, but changing them over could have an effect on your credit score. Shopping around from time to time is a great way to make sure you’re getting the best deals, but if you can, you should try and avoid applying for any other credit-checked products in the six months before you apply for a mortgage. This is because the hard footprints left behind on your credit report by credit applications are often factored into credit scores and can cause your score to drop, especially if there are a few of them. I saw a case recently where a couple believed they were refused a mortgage by a popular high street bank because they switched their individual and joint bank accounts to the same lender just before the mortgage application was submitted. They were devastated because they missed out on a good deal and ended up paying more. If you’re not sure how many hard footprints you’ve collected already, it might be worth obtaining a copy of your credit report and reviewing it carefully. Make sure you also check that there isn’t any inaccurate information that could also hinder your chances of securing the best deals. If you find anything you disagree with, or need help understanding, just let us know. If you’ve got a good credit record – and don’t forget you can now get your Experian Credit Score for free from our website – then a single credit application is probably unlikely to cause you problems, but it’s always wise to err on the side of caution.

Changing banks

Bank charges

I have recently been looking around for a mortgage and found a bank that offers one that suits my needs. I am

When I was at university my housemates and I opened a joint account for paying bills, however, it was

often overdrawn and there were a lot of missed payments. Since graduating I have closed the account, but will this still show up on my credit report? What can I do to alleviate the damage? Lucy Butler It’s not at all uncommon to take out a joint bank account to help manage the regular bills in shared student accommodation. While credit checks are carried out on people and not addresses, taking out a joint bank account, or any other joint credit will link up your credit reports. This could mean that if one of the linked people gets into financial difficulty in the future, any links on your report may be reviewed and could impact the chances of being accepted for credit. The good news is that you can now break this link, assuming the joint account has since been closed, or transferred into a single name. Simply contact each of the three credit reference agencies (Experian, Equifax and Callcredit) and check your credit report. If links to these other people still exist then just ask for them to be removed. The bad news is that the poorly managed bank account, if closed within the last six years, will show up on your credit report (because your name was on it) and could be hurting your credit score. Closed accounts drop off your credit report completely after six years, so, hopefully, that’s not too far in the future for you. But if you do plan to apply for credit while the poorly managed bank account remains on your report, then you might consider sending each of the CRAs a short note to explain the circumstances. Any lender reviewing your credit report will have to read and take your note into account, so I guess it could help you.

If you want help understanding how credit referencing works and how to improve your chances of getting a mortgage, visit experian. co.uk/consumer/guides/mortgage-application

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FINANCE

Mortgage Clinic As a first time buyer, understanding mortgage terminology and knowing what mortgage is right for you can be difficult, so David Blake at Which? Mortgage Advisers has joined up with First Time Buyer to answer your mortgage-related questions

Q A

Do I have to use my estate agent’s mortgage broker?

No you don’t. Estate agents will often ask you to speak to their mortgage broker/adviser in order to qualify you as a suitable buyer, but this does not mean you have to use the estate agent’s broker to obtain your mortgage. Now, this is not to say that you definitely shouldn’t use the estate agent’s recommended mortgage brokers, but what’s really important is that you understand how your mortgage broker operates and that you are comfortable and confident using them. Not all mortgage brokers work in the same way. In order to ascertain this, you should find out about a number of things. Ask whether they will be paid a commission for arranging your mortgage and whether they are tied to a specified panel of mortgage providers, as this may limit your options. The answer to these questions should help you to understand the type of company and adviser you are dealing with and, as always, it pays to shop around. The most important aspect to mortgage advice is getting the mortgage that’s right for your individual circumstances. This does not necessarily mean the lowest rate of interest, or cheapest product.

Should I buy a newbuild, or second-hand property? What is the difference?

A newly built property, from a mortgage lenders perspective, is generally considered to be a property that has not been occupied before, a property that has been built within the last 24 months, or a newly refurbished property. The main difference between the mortgage requirements for a newbuild property compared to a second-hand property is the size of deposit required. Generally, lenders will want you to put down a bigger deposit against a newbuild property (especially a flat), often 15%, whereas lots of lenders are comfortable lending to those buying a second-hand property who have a 5% deposit. The main reason behind the difference in deposit value is based on the differing levels of risk. Newly built properties

David Blake has more than nine years experience in the financial services industry and prides himself on helping first time buyers get on to the property ladder. In his current role at Which? Mortgage Advisers, David (along with the entire team) provides independent, impartial advice and searches thousands of mortgage deals, to help buyers find the deal that is right for them.

probably gives you some grace period if there is a delay in the development.

don’t have a historic value and are quite susceptible to fluctuations in property values. Lenders also think about the risk of developers not being able to sell all of their newbuild properties in one development, as this would have an impact on the value of the properties already sold. When buying a newbuild you should consider the timescales involved and the upfront fees. Typically, when buying a newbuild, you will have 28 days to exchange legal contracts binding you to buying the property. Often, you will also have to put down reservation fees to secure the property. The timescale issue is really important, because a mortgage will usually take two to four weeks to arrange, therefore, it is very important that you use a lender who can match your tight timescales. Some mortgage lenders are much faster at producing mortgage offers than others. Also, when a newly built property is not due to be finished for some time, you may face issues with the length of time for which your formal mortgage offer remains valid. Most mortgage offers are valid for six months, so if there is a delay in the build, or your property will take longer to complete, you may have to reapply for a mortgage. This can be an issue, especially if there has been a change in your circumstances, such as income, outgoings, or credit score. Ideally, you want to obtain a mortgage offer that is valid for the time period you need and

Q A

Can I still apply for a mortgage if I have just started a new job?

There are lots of mortgage providers who will lend to you from your first day of being in a permanently employed position. There are actually a couple of lenders that will accept an application from people who are due to start a permanent position within the next three months. The fact that someone has recently started a new job isn’t a major obstacle in obtaining a mortgage. That said, it is really important to consider whether or not you should apply for a mortgage immediately after starting a new role. If you have recently started employment, or moved jobs, you need to think about this carefully and ask some tough questions. What happens if you don’t pass your probationary period? Do you have savings in the background to cover this period, if you have to find a new job? Is this new job long term? This is especially important if you are buying relatively close to your work. Is the company you work for stable? The last thing you want to happen is to take out a new mortgage, only to find that you can’t make the repayments. Missing mortgage payments will have a huge impact on your ability to obtain finance in the future. For further help and advice from Which? Mortgage Advisers, please visit which.co.uk/ ftbmortgages, or call 0808 159 4852

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FINANCE

False start EXPERT COMMENT We should welcome the changes to Starter Homes announced in the Housing White Paper as a way the Government can succeed in helping as many new homebuyers as possible. At first glance, extending the taper from five to 15 years appears to reduce the opportunity for consumers to realise a quick windfall. However, this move – together with the other more subtle

The Government has watered down its Starter Homes scheme before the first foundations have even been dug, discovers Kay Hill

changes proposed – serves to ensure that this affordable housing scheme supports those who need it most. While some first time buyers will probably be disappointed at the changes to the criteria and proposed taper; it’s important to understand that these changes have been designed to maintain stability in the housing market as a whole. This is good news for both first time buyers and existing home owners. In addition, recycling any reclaimed discount back into affordable housing provision helps to support long-term sustainability. Finally, it’s important to remember one size does not fit all and no one scheme should dominate. These changes fit well with a tenure-neutral approach, helping the Government support the wide range of affordable housing solutions needed in the UK.

John Scally Head of Product Development, Leeds Building Society

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It was a Conservative Party manifesto pledge to gladden the hearts of wouldbe homeowners across England; 200,000 discounted new homes for first time buyers by 2020. Well, that was the plan before the election in May 2015, but the recent Housing White Paper included significant changes to the scheme, as well as a watering down of the promise on numbers. When the Starter Homes initiative was first proposed in 2014, it promised a 20% discount on market prices, with only a few provisos – it was for first time buyers under 40, buying newbuild homes costing (with the discount) no more than £250,000 outside London and £450,000 in London. In addition, the homes couldn’t be resold at market value, or let out, until five years after purchase. However, following changes by the House of Lords, then by MPs, and finally, following public consultations, in February’s Housing White Paper, the scheme is now hedged around with restrictions that may make it considerably less enticing to the people it is supposed to be helping. Eligibility – as well as an upper age of 40, a new minimum age of 23 has been introduced, to prevent wealthy parents

using the scheme to buy homes in the name of student children. Some exemptions have been added, however; joint applicants, where one buyer is over 40, will still be allowed to buy, while injured ex-servicemen and women, alongside partners of those killed in the Forces, will be exempt from age restrictions. Income – Maximum income levels have been added, so that only households with an income below £80,000 (£90,000 for London) can apply, while the house price caps have been removed. According to homelessness charity Shelter, by 2020, when many of the Starter Homes will be available, first time buyers in London will need a salary of £106,000 and a deposit of £138,000 to get on the property ladder, meaning those hoping to use the scheme to buy in the capital could find themselves excluded. Mortgages – Prospective buyers of Starter Homes will now have to have a mortgage or home purchase plan to buy their home, to prevent cash buyers with large savings from getting the discount (although, of course, there’s nothing to stop them taking out a mortgage). Restricted period – This is the real devil-in-the-details and, to make it worse,

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FINANCE L O CAT I O N, L O CAT I O N, L O CAT I O N

Although a third of local authorities applied for Government Starter Homes funding, just 30 organisations (29 councils and the government-funded Ebbsfleet Development Corporation) have been successful. Bizarrely, not one is in an area where housing is least affordable. According to the Office of National Statistics, across England homes cost 7.2 times income. Yet more than half of the approved Starter Homes schemes are in areas that are cheaper than average – including Pendle, the third most affordable district in England, where average homes cost just 3.42 times average salary and, at the time of going to press, a two bedroom mid-terrace can be bought for under £25,000. Starter Homes are also approved for Stoke-on-Trent, with a 3.84 price to salary ratio and end terraces starting at £10,000, and Blackburn at 3.9 with terraced homes from £25,000. The most unaffordable area to be chosen is Chichester at 13.33 times salary – ignoring 26 less affordable areas, including Kensington & Chelsea (30.65), Hammersmith & Fulham (19.40), Camden (18.77) and Hackney (16.57), where even the tiniest studio flat costs £150,000. At Ebbsfleet Development Corporation, Head of Communications Mark Templeton explained that the organisation had been chosen because it could deliver the homes quickly (although he wasn’t able to confirm when they would be built). The government funding would be used to decontaminate brownfield land and provide roads and infrastructure to attract developers. At Worthing, one of the more expensive areas that the Government is funding, with a priceto earnings ratio of 9.61, Councillor Bryan Turner, executive member for regeneration at Worthing Borough Council, explained that the funding will be used to buy land, probably including an old shopping centre at Teville Gate. “As with many of the brownfield sites in Worthing, the Council does not have ownership of the land. Therefore, we will be working with landowners and developers to see if we can use this funding to bring forward development in a joint venture. The successful bid is fantastic news for Worthing as it could unlock some exciting regeneration opportunities.”

EXPERT COMMENT The much-anticipated Housing White Paper is a disappointing read for aspiring first time buyers, with no new incentives or extra funding to fix the home ownership crisis. The Government should not give up on home ownership and

the exact details are not finalised. The original plan to prevent people from selling at market value or letting out their homes for five years, has now morphed into an onerous 15-year restriction. The White Paper states: “The Government will restrict the sale and sub-letting of Starter Homes following initial sale and will set out its plans in regulations. We have considered carefully the arguments for a longer period and, as a result, the restricted period will be 15 years. The detailed operation of the restricted period will be set out in the regulations.” It is assumed that this will be some kind of staggered repayment scheme, so that those moving after, say, 12 years, would pay back less of the discount than those moving after two years, but until the regulations are published, it is as yet unknown, as is whether the repayment would be based on the actual cash amount of the discount, or, potentially far worse, on the value of 20% of the home at point of sale. Other aspects of the scheme have also been watered down; originally 20% of new large developments would have to be Starter Homes, but this has been replaced with a recommendation for just 10%, alongside other forms of affordable housing such as homes for rent and shared ownership. It’s a tacit admission that, for many, owning their own home will always be out of reach. Labour’s shadow Communities Secretary John Healey said in Parliament, “We were promised a white paper – we’re presented with a white flag… the Tory Party

has given up on homeownership.” And, while the original proposals were for actual homes, with gardens, the White Paper now suggests increasing density and reviewing the Nationally Described Space Standard, leading to the prospect of growing families being potentially stuck for 15 years in tiny apartments. So for those currently saving, is the scheme worth waiting for? Although details are sketchy, it looks as if it will be possible to combine Help to Buy Equity Loans and ISAs with Starter Homes, so if you are at the early stages of savings and you are looking to buy in one of the areas that has been granted funding already (see box above), then it is worth investigating. If you are nearly ready to buy, with house prices rising at 7.2% each year nationally, and 11.3% each year in the East, a delay for the completion of Starter Homes could wipe out any savings given by the scheme. You could also save more than 20% by considering a used home. According to the Office for National Statistics, in some areas it’s significantly cheaper; a second-hand flat in Guildford, Cambridge, Brighton, Bath or London would save 18-55% off the price of a newbuild (although new flats are cheaper in Liverpool, Sunderland and Preston). And finally, how important is it to you to be able to move quickly? If your job is likely to take you around the country, you plan to upsize rapidly, or your family situation is likely to change in the first couple of years, the 15-year clawback period may be expensive, or more trouble than it’s worth.

the security and stability that comes with it – recent research from the British Social Attitudes Survey found that 86% of people want to own their own home, while our own findings have found that there is a homeownership gap of five million people. Finding a long-term solution to making housing more affordable and getting people firmly on the property ladder is ultimately what is better for society. While providing a diverse range of homes is welcome, it makes little sense that the White Paper has reduced the 20% Starter Homes requirement on large sites to 10% – the Government seems to have backtracked, under pressure from developers. The White Paper also backtracks on space standards; the Government seems more concerned with numbers than homes for the future and I am concerned that we are building the wrong sort of home. There is a very real danger that poor-quality ‘rabbit hutches’ will be built and presented as the solution to the crisis.

Paula Higgins Chief Executive, HomeOwners Alliance

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MARKET

Will the Government’s long-awaited Housing White Paper really ‘fix the UK’s broken housing market’? After several delays, the Government’s Housing White Paper was finally published, with Secretary of State for Communities and Local Government, Sajid Javid, promising a “bold, radical vision to fix the broken housing market”. The report was a lengthy 104 pages, looking at all kinds of issues, many of which affect first time buyers – such as the Starter Homes initiative, cash ISAs and even the growing rented sector accommodation – but will the proposed changes make any difference for the many still struggling to get on to the property ladder? EXPERT COMMENT 2017 will almost certainly be another year of big house price increases. Despite all of the Government’s housing policies over the past seven years, we are still not yet seeing the breakthrough in supply that could dampen the seemingly unstoppable rise in values across the country. The Housing

In his Autumn Statement last year, Chancellor Philip Hammond had already promised investment into all types of housing, but with details remaining vague whilst we eagerly awaited the Housing White Paper. The Government had already given the go-ahead for thousands of Starter Homes; 200,000 properties reserved for first time buyers, with discounts of 20%, which will be built by 2020, but the White Paper specified that these homes will only be available to those with household incomes of less than £80,000, or £90,000 in London.

ACKNOWLEDGING HOUSING NEED Recognising the extent of the housing shortage is a start and many developers welcome the news that the Government has set itself targets to deliver 225,000 and 275,000 new homes each year, but many are concerned that previous

White Paper included some sensible policies to nudge local authorities and developers into delivering more homes for both sale and rent, but it was not radical enough to reverse the trend of young people struggling to afford housing. As an industry, we need to think much more about how we can speed up delivery as we clearly cannot rely on the Government alone to get the job done.

Andy Sommerville Director, Search Acumen

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MIXED REACTIONS Reactions to the detail can best be described as ‘mixed’, ranging from lukewarm welcomes and cautious optimism right down to a ‘slap in the face’ for buyers. Unravelling what the jargon actually means for the UK property market is challenging, but the White Paper certainly covered more ground than many previous initiatives, touching on issues rarely debated before such as downsizing and the booming build to rent sector.

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MARKET EXPERT COMMENT Despite the uptick in first time buyer loans, it’s still far too hard

pledges have failed to deliver. With only 163,940 housing completions in England in 2015-16, the Government is a long way off the target of providing one million new homes by 2020. At the moment, around 60% of all new homes are built by the UK’s 10 biggest housing developers and many experts would like to see changes to planning system regulations, freeing up the system, so that smaller housebuilders can deliver new housing. Last year the Government promised cash to help smaller companies compete in the market, but they want to broaden this and encourage local authorities and housing associations to play their part and build the UK’s much needed homes.

RENTED HOMES As house prices rise and salaries fail to keep pace with inflation, a lack of supply of affordable homes is making homeownership unattainable for many. Large-scale Build to Rent developments, specifically built to be rented accommodation, are increasingly being touted as ‘the answer to the housing crisis’. It was hoped that the White Paper would deliver a change in thinking for the UK, traditionally a nation of home owners, that renting – and therefore, mass investment into this sector – could deliver a promising set of initiatives. Again, response to the proposals were mixed. There were hopes for more security for renters, with options of longer term tenancies, but Sajid Javid restricted these to new, purposebuilt, private rented housing – ‘the bare minimum’, as far as some experts were concerned – pointing out that these institutional investors building homes for rent are already keen to encourage longterm tenants, and it will typically be the better-off who can afford to rent them. A study by flatshare.co.uk found that 66% of renters would be happy to rent long-term, if there wasn’t the pressure to buy, an increase from 53% just two years ago. And, while the Government is starting to look at the long-term picture in terms of renting and affordability, the White Paper didn’t go as far as tackling the core of the problem – huge renting costs and stagnant wages.

DOWNSIZING AND EMPTY ROOMS Many property experts were hoping for a clear outline as to how the Government will shift from policies that subsidise living, to policies that affect long-term change in the

rental sector and genuinely make housing more affordable for everyone. Flatshare. co.uk point out that there are 19 million empty bedrooms in owner-occupied homes in England alone. Building more houses is essential, they say, but making better use of existing stock is also crucial.

to find affordable housing. The Government’s recent Housing White Paper announced greater support for off-site construction, which will help to address this problem by creating an efficient and sustainable way of building houses and therefore boosting supply. It is an

LIFETIME ISA

exciting concept, but promises

The Government reaffirmed its financial support for first timers, with a reminder about its Lifetime ISA. In April, they will launch the tax-free savings account, which rewards savers with a 25% bonus on savings of up to £4,000 a year.

now need the Government to start

STAMP DUTY

Richard Sexton

There was disappointment that there were no changes to Stamp Duty, which many believe is deterring people from moving house. This is especially pertinent to older homeowners, often still occupying larger houses, yet with little incentive to move due to high Stamp Duty. There were calls across the industry for the Government to offer Stamp Duty incentives for downsizers and first time buyers, which many believe will help get the market moving. Last year, the Government imposed extra Stamp Duty of 3% on landlords and owners of second homes, but there are concerns that this could consequently deter landlords form entering the market, which could further limit the supply of rented homes and, therefore, drive up rents.

like these are easy to make. We backing up their pledges with genuine action, so that we can finally create a housing market that is accessible to all.

Director, e.surv

EXPERT COMMENT Until the Government builds enough to overcome the housing shortage, high rents will continue to stifle living standards, and ambition here is also lacking. Renters on stagnant wages need homes that cost no more than a third of their income, not ones let at 80% of the market rent, with a sticker that says ‘affordable’. The vast majority of tenants will remain in existing properties, with no certainty over their home beyond

PROPERTY PRICES

the next 12 months.

House prices are a key concern for first time buyers and, in 2016, there was a 7.2% annual rise in values over the year, according to the latest statistics from Search Acumen. There was some surprise over the increase, as 2016 was undoubtedly a year full of uncertainty, not least because of Brexit. Some warn that this is not the sign of a healthy market, but is really attributable to the failure to build enough homes to meet demand. Interest rates are at record lows and yet many young people still cannot afford to get on to the ladder, because prices are rising faster than incomes, with no hopes for the year ahead. There are some flickers of good news, however; first time buyers borrowed £53.2bn for homeowner house purchases in 2016, up 13% on 2015. This totalled 338,900 loans, up 8% from the previous year. First time buyers borrowed more in 2016 than any other year, since records began in 1974.

Dan Wilson Craw Director of Generation

EXPERT COMMENT Those of us taking risks to build new homes need flexibility and help to increase the volumes we build. This paper gives me hope that the Government is ready to play its part. We are equally up to the challenge.

Brendan Sarsfield CEO, Family Mosaic

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EXPERTS

Agony agent Readers put their property questions to our guest panel of experts: solicitors, mortgage advisers, property gurus and Help to Buy providers

THIS MONTH’S PA N E L O F E X P E R T S

James MacPhail Interim Head of Sales & Marketing, Viridian Housing

Lisa Ley Head of Sales and Marketing, Network Homes

Mike Carter Head of Conveyancing, Paul Crowley & Co solicitors

T E S T T H E PA N E L

We need your questions... If you have any queries, or difficulties in understanding the property buying process, our panel of experts is waiting to help. Send our team your questions on buying property, Help to Buy, legal issues, or your financial problems and we’ll find the best person from the panel to give the advice you need. Email your questions to: lynda@firsttimebuyermag.co.uk

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Is shared ownership too expensive?

I’ve lived in southwest London for most of my life and, for the last few years, I’ve been sharing a house with friends, whilst I try and save for a deposit on a place of my own. But flats in this part of London are so expensive. I’ve looked into shared ownership, but doesn’t it work out to be more expensive as you have to pay rent and the mortgage? Also, aren’t they all characterless newbuilds? Tom Banks, Balham

Your situation is far from unusual but there are schemes, like shared ownership, available to specifically help people buy their own home. As you only buy a share of the property – between 25% and 75% – your deposit only needs to be 5% of that share. So, saving up for that deposit is much more achievable. For a two bedroom apartment, valued at £460,000 you would only need a deposit of £5,750 to purchase the 25% share

(£115,000). You’d then get a mortgage for the remainder of your share (£109,250) and pay a subsidised rent on the share you don’t own (£565pcm). You’ll have a financial assessment where you’ll have to confirm that your total monthly housing costs (mortgage, rent and service charge) are no more than 45% of your monthly income. This means that, in most cases, you’ll be paying less per month than you would be if you were renting your home privately. Shared ownership properties are available throughout London from housing associations. Many, like Viridian Housing, offer them in areas such as southwest London, that are considered unaffordable to first time buyers. Much of the marketing you’ll see for shared ownership will be for brand new apartments, but consider the second-hand resale market as well. When a current shared owner wants to sell they have to allow their housing association to find someone to buy their share. This means you could buy a share of an older property built 20 or 30 years ago. In more established areas like southwest London, where there are fewer newbuilds being built, shared ownership resales can be a very good way to get on the property ladder. James MacPhail

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EXPERTS

Property surveys vs valuations

I’m in the process of buying my first home and I’ve found a property that I

would like to make an offer on. I’ve been advised to conduct my own independent survey of the property before making an offer, but I’m concerned about mounting costs. Will the mortgage valuation report suffice? Anna Westley, Birmingham

Most buyers believe that their mortgage lender’s standard valuation will be suffice in lieu of an independent survey, but, in reality, these are two very different investigations. When your mortgage lender sends out a valuer to inspect the property, it’s important to be aware that such an inspection is for valuation

What criteria is needed for shared ownership?

I am interested in buying through shared ownership and I have noticed that there are various criteria that have to be met, with many schemes requiring buyers to live or work in the borough in which the property is situated. Is this the case for all shared ownership schemes? Louise Andrews, Bexley Shared ownership is designed to provide a helping hand on to the property ladder for those who are unable to purchase on the open market. The eligibility criteria underwent changes in April 2016, as rules were relaxed to open up the homeownership dream to thousands of first time buyers across the country. In terms of working or living in the borough, the criteria depends upon the borough in which the home is situated, with

purposes only. The valuation process is simply a superficial inspection to check the value of the property and won’t identify any structural or other defects likely to give rise to problems in the future. I recently saw such a valuation from a high street lender which stipulated it was desktop only, meaning the valuer had not even visited the property! You should also be aware that the seller has no obligation to point out any defects or repairs required to the property before you buy. The principle is ‘buyer beware’ and so it falls to you to identify any defects to the property before you invest. A prudent buyer should give serious consideration to having the property surveyed by an independent surveyor. You have two options. The first is to undertake a full structural survey, whereby a surveyor spends several hours at the address before preparing a detailed report on all aspects of the property. This is the more expensive option, so might not be ideal for your circumstances if you’re trying to save on costs.

A cheaper alternative is a RICS Homebuyer Survey and Valuation. This is a form of intermediate report carried out by a qualified surveyor. It is a shorter report than a full structural survey and works on a traffic-light system. If an aspect of the property is fine, then it is given a green symbol. If something requires further investigation, or may require work in the foreseeable future, it is given an amber symbol and if something is in need of urgent attention it gets a red symbol. If items are identified by your survey report, then you would be able to get the jobs costed, giving you an opportunity to negotiate on the asking price with the seller and save on costs this way. Buying a new home is likely to be one of the biggest investments you will ever make, so it is important that you take all necessary precautions to protect your investment. Although you will face an initial cost, this could save you significant expenditure further down the line. Mike Carter

each authority having its own conditions. Generally speaking, with most of our shared ownership schemes, potential buyers are required to live or work in the borough, although, in some cases, this will extend to people working or living in Greater London. We often find that first time buyers want to stay in an area to which they have become attached and they may have family members here, or a local community that is an important part of their life. Potential buyers are also financially assessed upon application. The shared ownership product offers the option to purchase between 25% and 75% of the full market value, as long as potential buyers have a gross income of £90,000, or less. Share options are also salary dependent, which will be assessed by a financial expert. The best thing you can do is register your interest with us now (networkhomes.org.uk) and we can help you find a new home. Lisa Ley

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Buyers’ guide FTB EXPLAINS ALL THE OPTIONS TO HELP FIRST TIME BUYERS

Your options What are your funding options if you want to get on the housing ladder?

FIRST STEPS

ARE YOU ELIGIBLE FOR A GOVERNMENTBACKED SCHEME? The government runs several Help to Buy schemes to help people get on to the property ladder. To be eligible for Help to Buy your household income needs to be less than £60,000 a year. For more details, contact a Help to Buy Agent. Help to Buy Agents are housing associations that handle the application process for Help to Buy products. Details of Help to Buy Agents start on page 122.

BUYING ON THE OPEN MARKET

FUNDING OPTIONS

JARGON EXPLAINED

G O V E R N M E N TBACKED SCHEMES

EQUITY LOAN

HELP TO BUY The government will provide you with a 20% equity loan that is interest free for the first five years with interest charged at 1.75% in the sixth year and at annual RPI (retail price index) inflation plus 1% after that. The loan must be repaid when the property is sold or within 25 years. Buyers need to raise a deposit of 5% and a 75% loan-to-value (LTV) mortgage. Only new build homes valued up to £600,000 can be bought. The scheme is available for ftbs and movers.

NEWBUY Available on all newly built properties offered by homebuilders participating in the scheme up to the value of £500,000.Under the scheme, the house builder will put 3.5% of the sale price into an indemnity fund, and the government provides an additional 5.5%. The mortgage lender is then able to offer 90-95% LTV mortgages, and the purchaser only needs a 5-10% deposit.

NEW BUILD HOMEBUY, ALSO KNOWN AS SHARED OWNERSHIP OR PARTBUY, PART-RENT

Most people buy property on the open market. Homes are either offered for sale by estate agents or sold privately. These include flats, houses and former local authority properties.

This scheme gives buyers the chance to purchase as little as a 25% share in a property and pay the rest in the form of subsidised rent. In the majority of cases, there is the opportunity to own the rest of the property outright by a method known as ‘staircasing’.

PRIVATE INITIATIVES

RENT TO HOMEBUY

Some house builders offer first time buyer incentives on new build homes. These include cash back, a loan to help you with costs or paying your mortgage for a set period of time. To find out more, contact developers directly.

With this scheme you rent a newly built property for up to five years and pay a reduced rent. This gives you the chance to save for a cash deposit so you can apply to buy a share of the home later.

This is a loan for a certain percentage of a property’s value. If you remain in the property, you repay the equity loan within 25 years. If you sell the property, you repay the percentage of the property price the loan was for. For example, if the equity loan was originally £30,000 on a £100,000 property (30%) and you sell the property for £200,000, you’ll have to repay £60,000 (30% of £200,000).

HOMES AND COMMUNITIES AGENCY This is a government organisation that funds affordable homes including those under Help to Buy.

STAIRCASING This applies to New Build HomeBuy schemes and occurs when the resident tops up the number of shares they own in their part-owned, part-rented home until they own the maximum share or own the property outright. The shares can be bought in 10% increments.

FUNDING OPTIONS BUYING ON THE OPEN MARKET & P R I VA T E I N I T I A T I V E S

To buy on the open market or from a house builder you’ll need to get a mortgage from a bank or other mortgage lender. To do so you’ll need to save a deposit and meet the lender’s lending criteria.

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BUYERS’ GUIDE

The ftb process TIPS

Buying your first property can be a daunting experience. It’s a big decision, so it’s important to get it right. We take you through all the steps involved

Unless you have enough money to buy a property outright you’ll need a mortgage. A mortgage is a loan used to buy a property and is normally repayable over 25 years. The loan is ‘secured’ on the property, which means the mortgage lender could repossess your home if you fail to make repayments on time. For this reason it’s vital only to buy a property you can realistically afford. Before you start, find out how much money you can borrow. A mortgage adviser at a bank will need details of your income, outgoings, savings and credit history – they will then be able to give you an ‘agreement in principle’, which will state, in theory, how much they will be able to lend you. An agreement in principle, however, doesn’t tie you, or the bank, to anything. Instead, it will just give you a rough idea of how much money you’ll be able to borrow. You’ll also need a deposit, normally at least 10% of the property price. The bigger the deposit, the better the mortgage rate you’ll be offered. Each mortgage product will have a maximum loan-to-value or LTV.

inance

APPLICATION You will need to have at least three months of bank statements, payslips or tax returns, a valid passport and information on any outstanding loans. Banks will look at your outgoings to assess how much you can afford to pay on your mortgage each month. The bigger deposit you have and the better your credit score, the better the mortgage rate you’ll be offered.

BUDGET Work out how much you can afford to repay each month. Look at your income and outgoings, including bills, council tax, food, insurance and travel. If you are buying a leasehold flat, you’ll also have to budget for service charges, so find out how much they will be.

MORTGAGE BROKERS VS BANKS CREDIT SCORE Get a credit report from Experian or Equifax, and make sure there are no default accounts, CCJs (county court judgements) or missed payments. If you are making lots of enquiries to find the best deal, make sure the lenders log your enquiry as a ‘quotation’ (soft) search rather than an ‘application’ (hard) search. Too many applications will leave ‘footprints’ on your credit score and can affect your rating. To improve your credit score, make sure you’re on the electoral roll, and pay your bills and any loan repayments on time.

You can apply for a mortgage via a mortgage broker (or financial adviser) or direct from a lender. A broker can look at the deals available and advise you which one would be best for your circumstances. Some mortgage products are only sold through brokers, not directly to customers. A broker will help you with the paperwork and deal with the lender on your behalf up until completion. You may have to pay them a fee or they may earn commission from the lender – find out how they are paid before committing to anything. Mortgage advisers in banks will only be able to sell you products offered by that particular bank, so it’s unlikely they will be able to offer you the very best deal for your circumstances. It’s important to shop around. You can compare mortgage deals yourself using websites such as SET A BUDGET

FINANCE

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Work out how much money you have for fees, deposit and the monthly mortgage you can afford.

CREDIT SCORE

Make sure your credit rating is sound, and pay off any debts you can.

moneysupermarket.com or moneynet.co.uk, then apply directly to your chosen lender.

FIXED-RATES Some mortgages are fixed-rates. This means you’ll pay the same rate of interest for a certain period of time, and your repayments won’t change. If interest rates go up, you’ll be protected from the increase, but you won’t benefit from any fall in interest rates. Normally at the end of the fixed period your mortgage rate will revert to the lender’s standard variable rate (SVR) for the rest of the term. You can either pay this rate or remortgage to another lender. Remortgaging to another lender will usually mean you have to pay a fee or early redemption charge (ERC).

VARIABLE-RATE MORTGAGES Variable-rate mortgages are either linked to the lender’s SVR or the Bank of England base rate, and the rate you pay can change. Lenders can change their SVR whenever they want, but they normally only change it when the Bank of England base rate changes. ‘Tracker’ mortgages have repayment rates directly linked to the base rate and are liable to fluctuate, so you need to be sure you could afford higher repayments if rates rise.

REPAYMENT OR INTEREST-ONLY You can either pay your mortgage on a repayment or interest-only basis. If you choose a repayment mortgage, your monthly payments will pay off some interest and some capital. At the end of the term, you’ll own your home outright. With an interest-only mortgage you’ll have smaller monthly payments, but these only pay the interest on the loan. At the end of the term you’ll still owe the original mortgage sum. If you take out an interestonly mortgage, you’ll need to have a plan in place (such as an investment) as to how you’ll pay off the capital.

SHOP AROUND

Speak to a mortgage broker, but also look at lenders’ direct products and search the internet for the best deal.

RESEARCH

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BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

a floor plan. Sign up with as many estate agents as you can (and your local HomeBuy Agent housing associations if you’re looking at shared ownership properties). They should send you new properties that match your description, but it’s worth phoning agents regularly.

Buying a home is a big investment. You need to buy a home you can afford and one

horough research

you’ll be happy living in.

LOCATION IS KEY The first step is to shortlist the locations you feel you’d like to live in, then check if you can afford the house prices in those areas. It’s also worthwhile visiting places you like: it may be that there’s an up-and-coming hot spot just down the road you didn’t know about that’s much more affordable. Ideally, you will have rented in the area before buying, but if this isn’t the case, at least spend some time there, check out the commuting time to work, and visit local pubs, shops and leisure facilities. Visit the area at night, too.

PROPERTY SEARCH Once you have found the right location, go online and check out what’s on offer. Most properties are listed on property portals such as findaproperty.com or propertyfinder.com or estate agents’ own websites. Most of the properties featured have pictures and descriptions and some have DECIDE ON A LOCATION

Be practical. Think about the commuting time and if you can afford to buy in the area.

RESEARCH THE AREA

Check out crime rates, future regeneration or new transport links.

VIEWING Once you see a property you like, arrange a viewing. Most people see at least 10 properties before putting in an offer. It’s worth bringing a friend or relative and also arranging a second viewing to check out any bits you may have missed. Don’t get taken in by the furnishings and décor too much. Remember that a property that is slightly run down can still be a great investment and may only need a touch of paint and a change of furniture.

ESTATE AGENTS It’s a buyers’ market, so make use of agents’ legwork in finding properties that fit your requirements. Be aware that estate agents are paid commission by the seller on the sale, so try to inspect the property yourself rather than just the parts the agent shows you. Don’t get sucked in by the hard sell. SEARCH

VIEWINGS

Look at several properties, and visit ones you like more than once and with someone else.

Check online for prices of sold properties in the area, and make sure properties you like fit your budget. You can search for recent sold prices of property in any area at nethouseprices.com, although be aware that prices have dropped significantly in the past year. If you like a property, aerial shots of the area can be viewed at earth.google.com Before you put in an offer, visit the street at different times to make sure it’s safe. Ask neighbours and local shop owners about the area.

BEFORE YOU BUY When looking at buying apartments, check exactly what is included in the service charge and how much it is. Also, ask about the terms of the lease and its length. If the lease has less than 80 years left, use this as a negotiating tool and make an offer below the asking price.

OFFER

When making an offer, don’t be afraid to ask for less than the asking price. If the property needs work done on it, use this as a negotiating tool.

SURVEY

BUYING

Make sure you get a survey done – it could save you money in the long run.

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uying process

BUYERS’ COSTS SURVEYS AND VALUATIONS

Once your offer is accepted, tell your mortgage lender. They will do a valuation to ensure the property is worth the money being advanced. At the same time, instruct a surveyor to carry out a survey. If this shows problems, find out how much they would cost to rectify and use this information to renegotiate the sale price. Or, tell the seller certain repairs need to be carried out before contracts are exchanged.

SOLICITOR’S/CONVEYANCING COSTS £500-£1,500

MORTGAGE FEE £0-£1,000

VALUATION £0-£300 (depending on your mortgage deal)

SURVEY £300-£500 (depending on the type of survey you have done)

SOLICITORS After the offer is accepted, you will also need to appoint a solicitor or conveyancer who will oversee the contract, deal with the finances and exchange the deeds. Your solicitor will carry out searches, check the terms of any lease and tell you how much stamp duty you have to pay. The seller will also appoint a solicitor, and the two legal teams will be in regular contact to make sure the purchase goes as smoothly as possible.

TIPS

A QUICK SALE Push the seller to take the property off the market. This will limit the chances of being gazumped (another buyer making a larger offer). The seller can insist on continuing to show the property, especially if you haven’t offered the asking price.

EXCHANGE AND COMPLETION Once the mortgage offer is in place, the contract is satisfactory and buildings insurance has been organised, both parties will agree an exchange date. On exchange of contracts, you pay a deposit, and a completion date is set. At this point, there’s no going back – the seller could sue you if you pull out, and you could lose your deposit. The exchange can be on the same date as the completion, but they are usually a week to 10 days apart. On completion, the final paperwork is done, and the property is legally yours.

Use a recommended solicitor who you know to be reliable and can move fast. Never get pressured into an exchange and completion date without knowing all your finances and documents are in place. If you can’t complete, you may have to pay the seller’s costs. English property law is different to Scottish law: in England, if you put in an offer and then have a change of heart, you can legally back out of the deal or negotiate up until the exchange date. But, in Scotland, an agreed price is binding.

SOLICITORS

Compare quotes from solicitors, and ask your friends if they can recommend someone. A good solicitor can make a big difference to a purchase completing or falling through.

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LOCAL AUTHORITY SEARCH FEES £300 (included in your solicitor’s bill)

LAND REGISTRY FEES £50-£920 (depending on the property’s value, e.g., £200 on a property costing between £100,000 and £200,000).

MORTGAGE BROKER’S FEE 0-1%

STAMP DUTY 0% for properties costing up to £125,000

2% for properties costing between £125,001 and £250,000

5% for properties costing between £250,001 and £925,000

10% for properties costing between £925,001 and £1,500,000

BUILDINGS INSURANCE £300 per year, payable monthly or in advance. Buildings insurance can cost a lot more if your property is at risk of flooding.

TIME SCALE From offer to completion usually takes about six weeks to three months, but don’t feel pressured or rush into anything you’re not sure of just because the seller or estate agent wants you to exchange.

SEARCHES

Look at the results of searches your solicitor has done. They will tell you, for example, if a main road is about to be built at the end of your garden.

INSURANCE

After you’ve exchanged contracts, arrange buildings insurance – this will be a condition of your mortgage offer.

REMOVALS

Shop around for a removals firm, and find one that can move your possessions on completion day.

SERVICE CHARGES AND GROUND RENT ON LEASEHOLD FLATS £100-£4,000

COMPLETION

Your solicitor or estate agent will call you to tell you the property is yours. The solicitor will have some final paperwork to do, and you will then have to pay the solicitor’s bill and your stamp duty payment (if applicable).

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Home buying glossary Confused by financial acronyms and industry terminology? Buying your first house is daunting enough without having to decode property lingo. FTB’s home buying glossary is here to make the process a whole lot easier to understand AGREEMENT IN PRINCIPLE

DISBURSEMENTS

The initial document your lender will give you outlining the amount you are likely to be lent. An agreement in principle is not a guarantee of getting a mortgage.

These are additional charges incurred during the home buying process such as stamp duty and Land Registry charges. You must give the money to your conveyancer or solicitor who will then pay the charges on your behalf.

APR APR stands for annual percentage rate. It is the interest rate you’d pay over a year. It takes into account not just the interest on your loan but also any other additional charges.

EARLY REPAYMENT CHARGE

ARREARS

EQUITY

This is a term used to describe payments that haven’t been made on time.

The difference between the value of the property and the value of the mortgage you have secured.

BASE RATE The interest rate set by the Bank of England. Lenders use the Bank of England base rate to set their own charges.

BROKER

This is an amount of money you have to pay a lender if you decide to move mortgage providers or if you pay off your mortgage quicker than expected.

EXCHANGE OF CONTRACTS This is when you exchange contracts with the seller. When this has happened, both sides are legally bound to complete the transaction.

A broker is someone who gives you advice on your mortgage. Some are independent, while others work for lenders.

FREEHOLD

BUILDING SURVEY

When a seller accepts an offer and then later on rejects it in favour of a higher offer from another bidder.

A survey carried out by a qualified surveyor to spot any structural problems or faults in the home you are buying.

COLLATERAL Something of value that is offered as a guarantee against a loan. With mortgages, your home is collateral.

COMPLETION The finalisation of the sale. Completion day is when all money is transferred and you become the legal owner of your new home.

CONVEYANCING The legal process of transferring ownership of a property.

A freehold is when you fully own a property and the land it stands on.

GAZUMPING

GUARANTOR A person, usually a parent, who guarantees that you can pay your mortgage repayments. You often need a guarantor if you are struggling to get a mortgage based on your own income. If for some reason you cannot pay your mortgage, your guarantor has to pay it for you.

HIGHER LENDING CHARGE If you take out a large mortgage on a property, some lenders charge you an extra fee. This is because the more money you borrow the more of a risk the lender is taking.

LAND REGISTRY FEES This is a fee you have to pay in order to register your ownership of the property with the Land Registry.

LEASE A type of contract where you buy the right to occupy the property for a fixed period of time. You usually have to pay annual ground rent each year.

LTV This stands for loan to value – the ratio between the amount of money you have taken out as a loan and the valuation price of the property.

LUMP-SUM REDUCTION In order to reduce your mortgage, you can make a lump-sum reduction. This is where you pay more than you owe each month in mortgage repayments.

REDEMPTION Paying off your mortgage in full is known as redemption.

REPAYMENTS The amount you have to pay back each month to your mortgage provider

STAMP DUTY Stamp duty is a shortened name for stamp duty land tax. This is an amount of money that the government tax you when you purchase a new property. Your solicitor or conveyancer will organise the payment for you.

TITLE DEEDS The legal documents that outline your rights and liabilities in relation to your new property. The title deeds also act as proof of ownership.

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What solicitors do: Purchasing a property Ever wondered what you pay legal fees for? We hope you enjoy this rare and fascinating insight from Beaumont Legal into what goes on behind office doors You’ve saved hard for a deposit, you’ve found just the right property at the right price, and you’re ready to make an offer. Everybody has told you that you’ll need a good solicitor to help everything go smoothly, and it’s more than likely that at least one person has told you that the legal side of buying a property is fraught with complications.

3. SOLICITOR CHECK

7. TITLE CHECK

Likewise, we don’t want to get so far down the process and then learn that the other party’s solicitor isn’t actually a solicitor, but a friend’s son who’s studying Law at college… or worse!

BUT WHY DO YOU REALLY NEED A SOLICITOR ANYWAY?

Everyone concerned (you, your solicitor, the seller, the seller’s solicitor, and the estate agent) will want to see a memorandum of sale, so that everyone knows all parties’ details and what the buyer and seller have agreed. We ensure that any such initial letters are sent to the appropriate people.

One of the most important parts of the process is making sure that the seller really does have legal ownership; known as ‘title’. And, just as importantly, making sure they have the legal right to pass the title of the property to you, so that you can subsequently sell it, or bequeath it to someone else at some time in the future. This makes a title check absolutely crucial to the process.

You might be surprised to learn that there’s actually quite a number of often-complex stages to the conveyancing process – i.e. your solicitor’s role when you decide to purchase your new home. Here’s a step-by-step insight into your conveyancer’s work when you’re buying a property.

1. INITIAL INSTRUCTIONS There’s work to be done just as soon as you decide on which solicitor you want to work with. Naturally, you want to be sure that your solicitor is fully committed to you and you need to give them the instructions to get started on your behalf, so look for a solicitor that has an easy instruction process – you should be able to do this via a secure online portal, any time, day or night.

2. ID CHECK It’s in everyone’s interests to be sure that you are who you say you are, so solicitors will insist on an ID check. Nothing personal and nothing sinister, we just need to be sure! And, of course, you’d want the other party’s solicitor to be doing the same thing, now, wouldn’t you?

4. INITIAL LETTERS

5. PROPERTY INFORMATION FORM Upon our request, the seller’s solicitor will send us lots of information about the property itself, such as who is responsible for the boundaries, what contents, fixtures and fittings are included etc. We’ll share with you all the information you need to be made aware of, as well as any implications that might make you want to reconsider, or modify your offer.

6. SEARCHES Imagine finding a great property, buying it and then, soon after you move in, you discover that there are plans to build a new airport runway at the bottom of your garden. We’re guessing that knowing this beforehand would have at least affected what you wanted to pay for your dream home, and possibly your decision as to whether to buy at all. Luckily your conveyancing solicitor will conduct several such investigations long before you commit to a purchase, which they refer to as searches.

8. SEARCH RESULTS Occasionally, the searches made on the property might raise other questions. You’d expect your solicitor to work hard to get clarity at this time; you’re going to be making quite a commitment during this transaction, so you need to know if there’s anything that will affect your decision to buy in the first place.

9. MORTGAGE REPORT In the meantime, you’ll almost certainly have been arranging a mortgage for your new purchase. As your solicitor, we’re here to check that all the details in the mortgage offer are as they should be. It goes without saying that you want to be absolutely certain about what you’re signing up to, and a good solicitor can reassure you that what you’re signing is all above board.

10. PROPERTY REPORT Once the seller’s solicitors have replied to all our enquiries, then your solicitor should prepare a full report about the property for you, giving a summary of all aspects of the property, so you know exactly what you’re going to be buying. We’ll also send

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‘Monies’ might include your deposit and the mortgage monies you have borrowed. You’re likely to be dealing with an estate agent rather than the seller in person and, as you’d expect, they need to be certain that everything has been transferred correctly before they hand over the keys to your new home!

14. STAMP DUTY We’ll have explained about Stamp Duty (its full title being Stamp Duty Land Tax) right from the start, because no-one likes any surprises at this stage. Basically, the Government is entitled to a payment by the purchaser on residential and business property purchases that are over a certain value. As your solicitor, we’ll handle that paperwork, so that you pay any Stamp Duty correctly and without anything going wrong. Nobody wants to upset HMRC, after all.

15. REGISTRATION Our conveyancing work still isn’t done after completion. Once the property ownership has been transferred, and you’ve moved in and are trying to decide which takeaway you’re going to eat among all your piles of boxes, we send the application for registration to update the records at the land registry. Again, this is another legal safeguard that helps to ensure that noone else can subsequently make some outlandish claim about you not actually owning your property. you a contract that you need to sign, in order to say you’re happy with what you’re purchasing as well as for how much.

ownership of the property is going to be properly transferred and that the property is going to be properly paid for.

11. EXCHANGE OF CONTRACTS

12. PRE-COMPLETION SEARCHES

At this stage, you know exactly what you’re paying for, you’re aware of any issues that you need to be aware of, and your purchase price has been agreed. To make the purchase agreement legally binding, you need to sign a contract (as does the seller) and then we exchange these contracts on your behalf. At this stage, we’ll also let your mortgage provider know what date we’ll need your mortgage monies. Lots of phone calls take place around this time, just so we can be absolutely sure that everyone has the documents that they need, so that

We now carry out another search through the land registry, to confirm nothing has been added to the title register since the seller’s solicitors sent it to us. This is something of a final check, to save you the heartbreak of learning that ‘something’ changed between you having your offer accepted and then buying the property.

13. COMPLETION The most important day for you! We ensure that all monies are transferred correctly.

WE’RE BUSY, BUT WE LOVE OUR WORK Being a conveyancing specialist is hard work, but incredibly rewarding; we just love guiding and advising our customers through from start to finish, and into their amazing new home! If you’re looking for top-quality conveyancing services, then did you know that Beaumont Legal also offers a marketleading online system that can reduce the time it takes to get the conveyancing done from (traditionally) weeks to (in many cases) just minutes? You can find out more about our online conveyancing portal at beaumont-legal.co.uk/ conveyancing

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