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CHRIS CLARK, KAY HILL, STEVE HIRD, GRACE MCCARTHY, SOPHIE MUNNERY, LAURA DEAN-OSGOOD, CORALIE PHELAN, CHARLOTTE SIMPSON, ANDREW THEOFF, GINETTA VEDRICKAS, STEPHEN WARD, KATIE WRIGHT
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All advertising copy for December 2024/January 2025 must be received before 25 October 2024. Send all copy to: lynda @ firsttimebuyermag.co.uk
It was amazing to celebrate the First time Buyer Readers’ Awards recently and have the opportunity to meet up with so many housing industry colleagues. This year we were overwhelmed with the support we have had with so many entries, and fierce voting. A very big thank you to everyone for taking the time to vote – it really means so much and if you turn to pages 70-79 you can see all the winners and highly commended.
The annual Shared Ownership Week campaign returns from 25 September to 1 October, aiming to help homebuyers understand how using the scheme can help you buy an affordable home. I do hope that you enjoy our special shared ownership supplement where you can find lots of information and many lovely developments available through this extremely popular Government scheme, plus an explanation on how the scheme works.
We know how hard it is for first time buyers to save for the allimportant deposit. It seems like a mountain to climb, but do turn to pages 22-26 where we suggest some small changes you can make to help your savings grow – I hope you all find it useful.
I hope you enjoy this issue which is packed with information and help on buying your first home – enjoy!
Until next time, happy house hunting
firsttimebuyeronline @firsttimebuyermag
EDITOR’S PICKS…
A resale can be the perfect t for a person, especially if they don’t like how identical new builds can be.
Joel Taylor, 20 Questions, page 118
We have a mortgage in princible agreed and we’re ready to get this homebuying ball rolling.
Rebecka Woodall, House Hunter, page 14
I am a great believer in working as a team and being very uid.
Abigail Tan, Leading the Way, page 66
The higher the EPC rating, the more energy ef cient the home.
Minnie Dando, Developer’s Doctor, page 16
Many people believe that saving for your rst home and getting on the ladder are way out of reach.
Clare Seal, At home with, page 12
What’s in…
44 Finding Your Style
Steve Hird, Director and Co-founder of Edward Thomas Interiors, breaks down some of the most popular interior styles and explains how to recreate them in different rooms.
HOMEPAGE
9 FTB Loves...
With Halloween on the horizon it’s time to celebrate all things spooky! Our round-up of some perfect accessories for the family to enjoy this fright night!
10 Living
It’s time to put on your dancing shoes and razzle-dazzle with the help of these disco-themed accessories for around the home.
12
At home with: Clare Seal
Clare is the creator of the @myfrugalyear Instagram account and is author of Real Life Money and Five Steps to Financial Wellbeing. She talks to Lynda Clark about her story and her future plans and puts her expertise as a nancial coach to use by giving her top three tips to help rst time buyers to take a rst step on to the housing ladder. These
include remembering that your rst home doesn’t have to be perfect!
14 House Hunter
We go on the hunt with Rebeckha and Ollie Woodhall who are relocating and looking for a home with two or more bedrooms with good links to Exeter.
16 Developer’s doctor
Minnie Dando, Head of Marketing & Communications at Hyde New Homes answers your property question this issue.
66
Leading the Way
Abigail Tan is CEO of the St Giles Hotels Group in the UK, Europe and North America, but she is not your average hotelier, as her energy, passion and adventurous nature are what drives her, and she believes that hospitality has to be a way of life and not simply a job. Lynda Clark chats to her about her career, her plans for the future and her charity work.
FEATURED
18 The View: Tayo and Antoinette Oguntonade
Tayo and Antoinette Oguntonade run the highly successful BrickzWithTipz, an online digital platform which makes buying a home accessible to everyone. Tayo is also a podcaster and TV presenter and can be seen presenting Great House Giveaway on Channel 4. He is also an experienced mortgage broker, property expert and in uencer. Lynda Clark spoke to them to nd out how it all started, the rst property they bought and they give some great advice for rst time buyers.
explores some small changes you can make to help your savings pot.
28 A Simple Guide to London Living Rent and Rent to Buy
London Living Rent or Rent to Buy are excellent options to buy your rst home. Both schemes offer rst timers a home at below market rent which allows you to build up your savings and ultimately buy your home through shared ownership.
22 Speed up your saving
Trying to save for a deposit is daunting but Debbie Clark
IT IS GREAT TO DO RESEARCH BUT SOME PEOPLE TRY TO BYPASS SPEAKING TO
THE RIGHT PEOPLE AND CAN GET INTO LOTS OF DIFFICULTIES
REGULARS
94 Shared Ownership - The Resale Process!
First Time Buyer Readers’ Awards – your winners revealed
Charlotte Simpson from Owen Paulo Legal gives the lowdown on what a resale shared ownership home is.
98 Finance
68 Hotspot
With the arrival of the new Labour Government, Kay Hill examines what the party has promised with its “get Britain building again” programme and other initiatives.
We look at Brighton & Hove as places to live.
88 First home, rst meal
100 Market
Ginetta Vedrickas explores the new Government’s rooftop revolution to cut energy bills and tackle the climate crisis.
102 Agony Agent
87 Competition
Win a new security system from Burg-Wächter worth £70.
A delicious recipe for cheese souf e created by Manoj Prasad, Head of Food Development at Heartwood Collection, which includes Brasserie Blanc and Heartwood Inns.
89 Know how
Moving to a new home can be quite stressful but our useful checklist will help you to make the move smoothly and ef ciently.
90 The lowdown on fees
Stephen Ward, Director of Strategy and External Relations at the Council for Licensed Conveyancers, explains what referral fees mean and how they might affect you when you buy your new home.
92 Why use a specialist solicitor when buying an affordable home?
Andrew Theoff, Director at Shared Direction Conveyancing, explains why you should use a specialist conveyancer when buying an affordable home.
All your property questions answered by our panel of experts.
105 Buyer’s Guide
Check out FTB’s Buyer’s Guide, which walks you through the property buying process.
110 Staircasing at a glance
Coralie Phelan, Partner and Head of Resales and Staircasing at Prince Evans Solicitors LLP, explains what staircasing is and how the process works.
112 Directory
Check which scheme is right for you, plus some useful contacts.
118 20 Questions
We ask 20 quick- re questions to a property expert and in this issue Joel Taylor, Head of Business Development & Marketing for Owen Paulo Legal, takes his place in the spotlight.
Is the cost of a first time buyer property negotiable?
I am not a natural haggler, and doing so makes me a bit uneasy, so I am not sure if it is a good idea or not? I have seen a home I like but I am not sure whether to proceed.
Kitty Brenan
FTB says: Yes, you can negotiate on the price of a property. Remember, as you are a first time buyer, you are chain free and if you have a mortgage agreement in principle in place you are an attractive proposition as a potential buyer. The ability to negotiate a house price is not a skill that comes naturally to everyone. However, even a small percentage drop could make a big difference to your budget. It is best to offer between 5% and 10% lower than the market price, but always go lower than your maximum to allow room for negotiation. Try to research house prices in the area with similar square footage and the number of rooms to make sure you are buying at a fair price.
Perfect to transform your garden furniture in just three simple steps, this issue’s star letter prize wins a can of Edding Primer, £9.99; Edding Acrylic Paint, £7.50; and Edding Lacquer, £7.50; all available from Amazon. With 30 colours to choose from, these paints will revive your tired outside space and bring colour accents to your garden or patio with a scratch and impact resistant nish. This Edding permanent spray is quick and easy to use on outside tables, chairs and even lanterns.
edding.com
SNAGGING
I have heard that new homes can sometimes have issues. What steps would I need to take if my new property had any problems, and would there be any warranties on the building?
Katie Cox
FTB says: It is true that some new properties can have issues, but fortunately, there are safeguards in place to ensure these problems, known as snags, are addressed promptly. The Consumer Code for Home
Builders regulates the new build home sector, and all builders must follow this code. Every new build home comes with a warranty. Typically, a builder’s warranty covers structural issues for about 10 years. Additionally, there is usually a developer warranty that covers smaller issues with fixtures and fittings for the first two years. It is a good idea to hire a professional snagging company to inspect your new home and provide a list of any issues that need to be resolved.
WRITE TO US!
Please send us your questions, comments and suggestions concerning property, or the articles in First Time Buyer magazine.
lynda@ rsttimebuyermag.co.uk
BUYING OFF-PLAN
I have been told that buying off-plan would be a good move for my first property. What does this mean and what are the benefits of doing this?
Joe Timber
FTB says: Buying off-plan means committing to purchase a property before construction is complete. This can feel daunting since you will need to rely on the developer’s floor plans, price lists, and other documents to make your decision. Typically, buying offplan involves signing a contract and paying a deposit to secure your plot. The deposit amount varies by developer but is often between £500 and £2,000. There are advantages to buying off-plan as often you can choose your fixtures and fittings, and it’s definitely worth asking the developer what incentives it offers for committing early to a property – you might even be able to negotiate a discount.
CONVEYANCING PROCESS
As a first time buyer I am a little confused by some of the procedures. How long will the conveyancing process take when I commit to my first home?
Tom Taylor
FTB says: For a first time buyer, the conveyancing process typically begins after your offer on a property is accepted and can take around eight to 12 weeks to complete. This process involves a series of important legal steps to transfer ownership from the seller to you. Your solicitor or conveyancer will conduct essential searches, such as checking for any local authority plans or environmental risks
that could affect the property. They will also handle the paperwork, ensure there are no legal issues like boundary disputes, and liaise with your mortgage lender. Throughout this time, you will be required to sign contracts, arrange your mortgage, and potentially address any issues uncovered during surveys or valuations. Communication is key, so staying in close contact with your solicitor and other parties involved can help ensure a smoother process.
VISIT OUR WEBSITE
For everything you need to know about buying for the rst time, go to rsttimebuyermag.com
With Halloween on the horizon, transform your home to look scarily inviting. These minimalist Halloween themed interior ideas will add that festive feeling this fright night, helping you find the perfect balance between tacky and tasteful during one of the more garish holidays. From cosy candles to graceful ghouls, we have everything covered to create the perfect spooky setting
Ghost face Halloween dinner candles, £4.99, Ginger Ray, gingerray.co.uk
Wicker pumpkin, £TBC, Dobbies, dobbies.com
Gary The Ghost tufted bedding, from £14.99; Gary The Ghost pillow with pumpkin, £4.99; Boucle spider web cushion, £5.99, Home Bargains, home.bargains
3D ghost ball cushion, £15, George@Asda, george.com
Green Reactive Glaze pumpkin serving bowl, £14, George@ Asda, george.com
Haunted House three-tier plush pumpkin stack, £24.99, Home Bargains, home.bargains
GET INTO THE GROOVE
Adding disco-inspired elements into your home can bring a unique, lively twist. With bold colours, mirrored accents and fun lighting, a touch of disco can transform your space, making it unforgettable. So why not throw it back and add retro vibes which offer a stylish, energetic flair that sets your home apart from the ordinary?
, £9.99, Homescapes Online
Bronze disco pumpkin, £4.50; Disco large pumpkin, £7, Primark
Disco ball mirror, £55, Make. It. Disco
Geometric cushion
Floral daisy cushion, £12.99, Homescapes Online
Retro rug, £208, Lime Lace
Disco legs print, £65, Rockett St George
Basket, £8, Primark
Poster print, £15, Lime Lace
CONTACTS
» All Things Brighton Beautiful allthingsbrightonbeautiful.co.uk » B&M bmstores.co.uk
» Desenio desenio.co.uk » Dunelm dunelm.com » George Home direct.asda.co.uk
» Pink Giraffe Print Co pinkgiraffeprintco.com » Primark primark.com » Rockett St George rockettstgeorge.co.uk » Sparkle Lighting sparkle.lighting » Wayfair wayfair.co.uk
Marble mirror, £7, B&M
Photo frame, £22, Monsoon
Disco ice bucket, £35, Dunelm
Mirror lamp, £29.99, Homesense
Dancing Queen poster, £9.95, Desenio
Disco ball hanging planter, £26.95, All Things Brighton Beautiful
Fairy lights, £14.95, Sparkle Lighting
Kitchen disco print, £8, pinkgiraffeprintco.com
Wine glass, 4 pack, £12, George Home
Wine cooler, £40, Rockett St George
Kitchen disco mirror, £45, Make. It. Disco
Disco glass, £15.99, Wayfair
At home with: Clare Seal
“TAKE TIME AND LIVE IN THE SPACE BEFORE YOU GO OUT AND BUY A BIG PURCHASE”
Clare is the creator of the @myfrugalyear Instagram account and is author of Real Life Money and Five Steps to Financial Wellbeing She is also a financial coach working with brands and individuals to address financial wellbeing and bring a new perspective to what sometimes can be a stale conversation. She chats to Lynda Clark about how it all began, her plans for the future and gives her top tips to help first time buyers save to get on the property ladder
FTB: Tell us about your first step on the property ladder?
CS: We bought the house we now live in, which is a new build, in 2022. My husband was initially keener than I was on a new build but we have two young children and apart from the fact we are not very “handy” when it comes to DIY, we don’t have a great deal of time. It was the right choice as it was ready to move into and we didn’t have to do anything to it. We saw the development and really liked it and reserved off-plan, so we were able to choose the flooring and kitchen, which was great. It is a three
bedroom terraced house with a lovely garden and garage and is the perfect design for family living, plus it’s near the school where my son goes, so it ticks all the boxes!
FTB: You struggled with personal debt –can you tell us about that?
CS: In 2019 I had a big wake-up call as things had been tight for a while but I kept telling myself it was all ok, but it really wasn’t. I am sure my story resonates with a lot of people especially since the cost-of -living crisis – we were very young when we started a family and we also got married
so there were a lot of extra costs. Luckily, my husband got a new role at work which came with a pay rise. I worked as a brand manager in marketing, but I was never a high earner and I really didn’t like the job. I had a baby under one and my son just starting school and I was very unhappy about my job and decided to go freelance. I was lucky as one of my old companies offered me 12 weeks’ work, which worked out very well. At last, we managed to save and it was a sprint finish to pay off our debts and get our deposit together.
FTB: Tell us about the two books you have written?
CS: The first book I wrote is called Real Life Money, which is partly a memoir and partly a guide on how to be wise with your money. It is extremely hard to save consistently and there is a wilful ignorance about how to save to get on the property ladder. There is a huge psychological effect that goes with trying to save. Many people believe that saving for your first home and getting on the ladder are way out of reach, but I do believe that sometimes you should just buy that takeaway coffee and cheer yourself up! But when you are saving, the small things do add up – for example if you buy a latte if will cost you £4.50 and if you decide to forego the coffee you can save the money and you would be surprised how the savings pot grows. The secret is that you need to save the money straightaway and not think you will do it at the end of the week as you probably won’t. The other book is called Five Steps to Financial Wellbeing and this is more about how our sense of wellbeing is impacted by money and things associated with it.
FTB: You are also a financial coach, can you explain what you do?
CS: I am a certified financial coach and I do corporate coaching with large company employees so they are equipped to understand the way money works on both a practical and emotional level. I talk to everyone from graduates to directors, so it is a very diverse range of people. I am now looking to broaden my expertise with an FCA-accredited DipFA. Next year I would also like to start a foundation year as a psychological therapist, which is someone who can give people financial therapy. It was established in the US and is only in its fledgling stages here in the UK – it will help with money worries, spending problems and is not just limited to people on low incomes. It will also advise anyone on what their next steps might be.
FTB: You have a big social media influence, can you tell us about that?
CS: Originally I was only on Instagram but
“WHEN SAVING, DON’T FORGET TO ADD THE EXTRA COSTS THAT ARE INVOLVED LIKE STAMP DUTY IF APPLICABLE, MOVING COSTS AND CONVEYANCING FEES”
it has now spread but I am just getting my head around TikTok! I have about 120,000 followers on Instagram which is great.
FTB: What are your top three tips to help when trying to buy your first home?
CS: 1. When saving, don’t forget to add the extra costs that are involved like Stamp Duty if applicable, moving costs and conveyancing fees. So, ensure your house buying fund and deposit take these into consideration, which will save so much stress in the long run.
2. It is a very exciting time but you
don’t have to make your home perfect straightaway. Take time and live in the space before you go out and buy a big purchase.
3. Keep a net worth spreadsheet so you can see all that happens to your money when you move your cash around. Sometimes it can feel very strange when you have to pay an amount to say a conveyancer for example. Suddenly the money is gone, and you can worry, but you have to remember that ultimately it is equity in your new home, so don’t let it cloud your judgement.
@clare.seal
The HOUSE HUNTER
This month FTB goes on the hunt with Rebecka and Ollie Woodhall who are relocating to the South West and seeking a home with two or more bedrooms with good links to Exeter
Names Rebecka Woodall, 37, Ollie Woodhall, 42 Occupations IT Support Manager, Customer Services Manager
Maximum budget £250,000
Requirements A home with two or more bedrooms in the South West of England, with good links to Exeter and a range of local amenities and entertainment within easy reach
What they wanted…
We are seeking a new home in the South West, but we’re undecided as to exactly whereabouts. We de nitely need some help with that decision! We’re currently located just outside Reading, where we have been for a few years. After lots of holidays in the South West – and after both gaining work-from-home contracts –we’ve decided we’re ready to escape to the country! I have family in Exeter, so it would be ideal to be within a 30-minute drive. We’re both adventurous types who love outdoor sports and exploring, so we want to be somewhere that offers that in abundance. We also love driving to the coast and trying things like sur ng, so we’d love to be closer to some good beaches. We’re used to being close to shops, so we’d like to keep that convenience. Good cafes and options for eating out close by would be great; and we’d like at least two bedrooms to make home working easier.”
What we found…
THE QUAINT TOWN THE COUNTRY RETREAT
Lavender Rise
Somerset’s smallest town, Axbridge, is home to this new collection of maisonettes and family houses, perfect for rst time buyers. The Bellway development includes a range of house types, with one bedroom maisonettes and three bedroom houses available through shared ownership. All have been created with energy ef ciency in mind. Historic Axbridge has plenty of amenities and opportunities for outdoor activities, while the stunning city of Bath, for fantastic shopping and world-famous architecture, is a 20-minute drive.
A range of spacious four bedroom homes is available through shared ownership at this development on the edge of Stalbridge. The Bovis Homes properties sit on the edge of the small but bustling town and within easy reach of Sherborne and Sturminster Newton. The interiors of the homes have been nished beautifully and feature plenty of natural light, via the French doors in the kitchen/dining space. There’s a separate lounge, while upstairs you’ll nd the main bedroom with en suite, bathroom and three more well-proportion bedrooms, one with an en suite.
homereach.org.uk
What they thought…
Axbridge looks really lovely, and would be such a huge change to what we’re used to. The development is an attractive one and it’s so exciting that we’d be able to afford a house here. We just love the style of the semi-detached homes, and know we’d make the most of all that space – such a big change from our one bedroom apartment. This is a great location in terms of enjoying all aspects of life. Bath is close by, as well as good beaches – Weston Super Mare is only a 25-minute drive away too.”
This is such a pretty part of the country, with so much green space and beautiful little villages. Stalbridge is lovely, and nearby Sturminster Newton has some stunning sights. So we know there would always be new and interesting places to explore. The properties at Blackmore Meadows are also really nicely designed. We love the period-inspired styling, which is de nitely our cup of tea. And there’s so much space, too; perhaps a good place to start a family in the future – who knows.” *Based
THE CITY BUSTLE THE SEASIDE DREAM
St. Leonards Quarter Exeter, Devon
FROM £260,000
Seascape Ilfracombe, Devon
The beautiful city of Exeter is an ideal base for buyers seeking a slice of bustling life, with the beauty of the Devon coast and country on the doorstep. This new collection of one to ve bedroom apartments and houses is situated in sought-after St Leonards, close to the heart of Exeter. The highspec properties enjoy landscaped green space and have been created with energy ef ciency in mind. The River Exe lies just a few minutes away, along with an impressive range of historic venues, the cathedral, shops, pubs and quirky eateries.
acornpropertygroup.org
We have always loved Exeter. It’s a wonderful city, with a real buzz about it. We have enjoyed visiting my family here, and always end up staying longer than we’d planned. There’s so much to see and do, and the development is brilliantly located, so this would be an exciting option. We particularly like the contemporary design of the buildings, and the focus on energy ef ciency means that bills would be lower. The amazing moors and picturesque beaches are within a 30-minute drive, so it’s win-win.”
First choice!
FROM £259,995
These impressive two bedroom homes sit on the edge of pretty Ilfracombe, the Devon seaside town known for its striking coastline and Tunnels Beaches, and just moments from Exmoor National Park. The properties feature an open-plan area that incorporates kitchen and dining and a contemporary lounge that opens to the back garden via French doors, plus a cloakroom. The new homes also include an integral garage space. This is a popular town, with a great range of amenities within a short drive and an interesting history.
elan-homes.co.uk
THE SOMETHING FOR EVERYONE
The Oaks Chudleigh, Devon
FROM £130,000*
The Devon town of Chudleigh boasts an excellent location: shops and amenities sit within immediate reach, while the beautiful – and lively – city of Exeter is just 25 minutes away by car. World-famous Dartmoor National Park, for endless exploration and breathtaking views, can be reached in around 15 minutes, while some of Devon’s best-loved beaches, including sandy Dawlish Warren, are around a 25-minute drive. The three bedroom properties available on this Linden Homes development have been created in keeping with the local area, and feature bright, modern interiors.
homereach.org.uk
*Based on a 50% share of the full market value of £260,000
THE NEXT STEP
“We have planned a weekend trip to Devon to drive around the area again and really ensure this is the right location for us – even though we’re pretty sure this is the one! We have a mortgage agreed in principle, and we’re ready to get this homebuying ball rolling!”
Ollie’s family used to holiday in Ilfracombe and he has fond memories of the area. The rugged coastline and amazing range of seafood restaurants come highly recommended! There certainly is loads to do. Exmoor is on the doorstep, and we’d be within walking distance of the beach, which is something we’d never expected on our budget. We really like the styling of the properties and the design elements, and the integrated garage is a bonus too.”
We’re so impressed with the styling of the properties at this development – they’ve really kept the feeling of the local area, and look very ‘Devon’ indeed. We just love the bright and modern interiors, too –they’re really fresh, and there’s plenty of space. For us, this location really is ideal: Exeter is super close for bustling city life, while some amazing coastline is only 20 minutes away. Meanwhile, some of the most stunning countryside is right on the doorstep. This is a super-exciting option for us!”
Minnie Dando is Head of Marketing & Communications at Hyde New Homes. With 18 years’ experience in property, in both shared ownership and outright sales, she has successfully built a specialist team with expertise in all areas of branding and marketing. Minnie is passionate about placing the customer at the centre of all marketing activity, as well as helping young people on to the property ladder, or providing a springboard for those taking the next step into a more spacious family home
QWe are a young couple buying our first home. Sustainability is important to us. What does the EPC rating mean and what other sustainability features should we look out for?
AThe Energy Performance Certificate – EPC of a property – rates its energy efficiency from A (the highest rating) to G, based on a number of factors including lighting, ventilation, hot water and heating fuel type. It also takes the property’s environmental impact into account. The higher the rating, the more energy efficient the home.
As well as helping sustainability conscious buyers make more informed choices about where to buy, you can also use an EPC rating to gauge the likely energy costs of a home. New homes are usually higher rated and you would therefore benefit from lower bills as well as improved sustainability.
Our homes at Wildbridge in Yapton, for example, possess the highest EPC rating, A, thanks to their superior insulation, doubleglazed windows and the renewable energy generated from solar photovoltaic panels on the roofs of all the homes. Overall, by using best-practice energy efficiency measures and strategically located renewable energy installations, we have reduced energy demand by 33.58% across the development.
For residents at Wildbridge, this means utility savings of around £330 per year as a result – another plus for starter home buyers on a budget.
The EPC rating is just one aspect of a property’s sustainability credentials. The rating is key to understanding a home’s energy efficiency, but there are plenty of other factors to consider.
For those keen to preserve nature and maximise biodiversity, Wildbridge’s sustainable drainage system features five basins that ensure water is collected and distributed gradually and evenly. To enhance wildlife habitats, these “SUDS” ponds feature wettolerant meadow mixture planting that has contributed to a biodiversity net gain across
the site. Where possible, existing hedgerows surrounding the site were also buffered and enhanced and mature trees preserved.
Location is a crucial consideration when choosing a home. Living within walking distance of shops, healthcare services, leisure venues and other daily essentials can significantly reduce the need for regular car journeys. Additionally, homes situated near public transportation, such as a railway station or bus route, make commuting more convenient and eco-friendly.
At Wildbridge, for instance, Barnham railway station is just a short 15-minute bus ride away. Furthermore, the inclusion of electric vehicle charging points at Wildbridge promotes greener travel by road, enhancing the community’s commitment to sustainability.
For new homes, ask if the developer has
Minnie Dando, Head of Marketing & Communications, Hyde New Homes
taken a “fabric first” approach, which simply means by focusing on reducing a home’s heat loss, you can achieve a low-carbon, sustainable home that’s affordable to heat. Riverside Square in Canterbury, for example, has been built with sustainability firmly in mind, with houses receiving an EPC rating of A and apartments at B. Here, a fabric first approach has increased the homes’ energy efficiency, reducing CO2 emissions and lowering energy bills. Further extending the sustainability, natural light has been maximised throughout, reducing the need for artificial light, and water efficiency has also been prioritised.
To register your interest in one of our sustainable homes, please visit hydenewhomes.co.uk/wildbridge hydenewhomes.co.uk/riverside-square
Yapton,Wildbridge,West Sussex
Close to the charms of the coast and the countryside, Wildbridge is a delightful new community of homes in Yapton, West Sussex. Comprising a variety of layouts and designs, the collection of two, three and four bedroom houses and bungalows, for sale through shared ownership, provides exciting opportunities to suit a wide range of different lifestyles.
In keeping with Hyde New Homes’ reputation, each home features an impressively high speci cation – from the contemporary, integrated kitchens to the sleek, quality ooring. Extending the development’s rural village-feel, homes are set around thoughtfully landscaped open spaces, with each house having its own private turfed garden. Allocated parking spaces to each home make it easy to get out and about.
Explore the Wild Side of West Sussex
Positioned between the undulating greenery of the South Downs and some of West Sussex’s most popular coastal hotspots, buyers at Wildbridge can explore the diversity of nature without travelling far from home. Whether traversing one of the area’s many trails or cycle routes, or relaxing with a picnic on a sunny beach, there are plenty of opportunities to enjoy the great outdoors.
Prices at Wildbridge start from £110,250 for a 35% share of a two bedroom home with a full cycle with
To book your viewing, visit hydenewhomes.co.uk/wildbridge is
For day-to-day life, Yapton is well equipped with a range of essentials from well-stocked shops to tantalising restaurants. For young families, Wildbridge is located within easy reach of a selection of schools rated as Outstanding or Good by Ofsted.
Prices at Wildbridge start from £110,250 for a 35% share of a two bedroom home with a full market value of £315,000.
TOP OF THEIR GAME!
Tayo and Antoinette Oguntonade run the highly successful BrickzWithTipz, an online digital platform which makes buying a home accessible to everyone. Tayo is also a podcaster and TV presenter and can be seen presenting Great House Giveaway on Channel 4, which in 2022 scored a hat-trick, winning Best Daytime Programme at the BAFTAs, RTS and Broadcast Awards. He is also an experienced mortgage broker, property expert and influencer. Lynda Clark chatted to them to find out how it all started, hear about the first property they bought at the age of 22, and discover their great advice for first time buyers
Photos:
Adejare Adelano/AV Media
"WHEN WE BOUGHT OUR FIRST PROPERTY TOGETHER WE COULD NEVER HAVE AFFORDED IT ON OUR OWN. I REALLY THINK COLLABORATIVE BUYING IS A TREND NOW BECOMING THE NORM"
Tayo and Antoinette certainly don’t let the grass grow under their feet! I am breathless just hearing how much they do running BrickzWithTipz and The Homebuyers Club, Tayo’s television work, their many speaking engagements, Antoinette's full-time work as a Management Accountant, and they have two little girls who are just two and three! But you know instantly how passionate about property and helping others get on the ladder they are.
Although Antoinette is a Management Accountant, her true passion lies in helping people achieve financial freedom through financial literacy and helping them get on the property ladder.
Tayo was brought up in south east London and he describes the area as “tough”. His parents, who are originally from Nigeria, instilled in Tayo and his two brothers that getting a good education was very important and so he took his schooling very seriously. “I loved maths as I am a numbers person, but my parents moved to Catford and then further out to Orpington in Kent, which was a big change for
"I REALISED IF I WANTED A CAR I WOULD HAVE TO WORK AND SAVE. WE ALL GOT JOBS – I WORKED IN SAINSBURY’S – AND I SAVED AND SAVED AND EVENTUALLY BOUGHT A 12-YEAR-OLD FORD FIESTA, WHICH WASN’T NEW BUT IT GOT ME AROUND AND OPENED UP MY WORLD”
me as all my friends were back in south east London and it was quite a long journey to go and see them.
"I eventually went to a sixth form college in Beckenham and many of my old friends went there too which was great. It was rather strange, though, because we were surrounded by quite privileged people. For example, when they passed their driving test they would be given a brand new car straight out of the showroom, and that was never going to be the situation for me or my friends. So, I realised if I wanted a car I would have to work and save. We all got jobs – I worked in Sainsbury’s – and I saved and saved and eventually bought a 12-yearold Ford Fiesta, which wasn’t new but it got me around and opened up my world.”
Tayo and Antoinette went to the same university studying economics and graduating in 2013. Tayo said, “My student loan didn’t cover what I needed for rent let alone living expenses. Again, I had to get a part-time job to help and I also managed to save again. I was crazy on cars at that time so it made me work really hard so I could save up to buy a new car. I worked for a telesales company and I even stayed there during the holidays, often working between 60 and 70 hours a week, so I could continue working and saving.
I actually managed to change my car three times during the period I was studying because I was saving so hard. "My interest in property started when I was in a house share and I got friendly with the landlord and as I am a numbers man I worked out how much he made from all the rents he took. After I left uni I went back home and lived with my parents who didn’t want me to pay any rent, which was very good of them. I got a job and managed to save about £1,100 a month and then I spent whatever was left over on myself. I did realise though that every time I bought a new car, its value depreciated the minute I drove it away and it got me thinking that I needed to invest in something that actually went up in value.“
They both knew they wanted to buy their own property as soon as they possibly could. During their first foray into buying a home they both realised there was hardly any fundamental information out there to help. Initially they wanted to buy in north London, which is where Antoinette came from, but soon realised that it was way out of their budget, and then they researched south London and again it was too expensive, so they decided to look further outside of London. Antoinette said, “Initially I was apprehensive about moving to Kent as it was far from everything I knew. However, I understood that sacrifices were essential for progress, a principle I teach today. Your first home may require some sacrifices, but it is worth it in the end to get on the property ladder.”
They looked at how much they could afford and looked around the Sittingbourne area. It was a bit of a gamble as they didn’t know the area but realised it was up-ancoming so would be a good investment. They now live in south east London with their two young daughters in a four bedroom terraced house. They still have the house in Sittingbourne which has doubled in value.
Antoinette added, “It is important to be realistic as to what you can afford to buy. After we bought our first home, many of our friends and family were amazed as to how we achieved it. We shared our experience and knowledge with them and explained how it was possible to buy. We didn’t gatekeep our salaries and we were very transparent. Our friends and family then took our advice and bought themselves. It was then that we had the idea of starting a website which would help with financial literacy and eliminate the scaremongering which is associated with buying for the first time. It is difficult these days we know, because of the cost-of-living crisis and wages have not gone up with inflation.
"When we bought our first property together we could never have afforded it on our own. I really think collaborative buying is a trend now becoming the norm, whether it’s buying with spouses, siblings, parents, friends or even colleagues. Statistics reveal that six out of 10 first time buyers purchase with someone else, which is a real eye-opener. It is important, though, to draw up a legal document when you buy with somebody else so everyone knows where they stand. Also, it is vital to discuss the pros and cons before actually buying together to ensure everyone is on the same page. So, we really wanted to help other people achieve their dream and started BrickzWithTipz about five years ago. It has gone from strength to strength and on social media we have over 100,000 followers across all the channels.”
As a spin-off from BrickzWithTipz
Antoinette and Tayo have started The HomeBuyers Club, which has enabled them to reach people on a personal level, assisting them through the homebuying journey from start to finish. Antoinette said, “We support them and provide a close knit community of people who want more in-depth information. We have one-to-ones with them and they have access to us both whenever they want to. We put on regular live webinars and actual events where they come along and we advise them in person and often banks get involved, as we have great relationships with the banks and they go home with a goody bag too! Some of the advice we give is to make a goal of saving around £400 a month and open a Lifetime ISA. We know the power of education is invaluable. It costs £37 a month and is very, very popular."
It was during the pandemic that Chwarel, a production company in North Wales, saw a YouTube video Tayo had made and contacted him about presenting a show on Channel 4 called Great House Giveaway. Tayo was a great success and the fourth series will be on air early next year. This year the show won Best Daytime Programme at the BAFTAs, RTS and Broadcast Awards and Tayo was nominated for Best Debut Presenter at the Edinburgh Television Festival. Tayo co-hosted On The Money for Channel 4 digital, which achieved huge audience engagement, three times the channel’s benchmark and ranked in the “top three most watched” 4Studios branded content on YouTube and “most watched” on Instagram. He also joined the presenting team on the Channel 4 show, Key to a Fortune, a transformational series that re-unites families with homes – and relatives they didn’t know they had.
Tayo recently filmed a social-first series called Make Your Move for Channel 4 which was sponsored by Skipton Building Society. He helps turn three couples' financial fears into an optimistic outlook as they look to buy their future home. Tayo also presents Great House Giveaway and series five is in on television every Monday. This show offers two strangers a chance to get on the
property ladder, as they are given the cash to buy, renovate and sell a house and keep any profit they may make.
Both Tayo and Antoinette are super busy but still find time to support other things. They both work with 2020 Change, a youth empowerment organisation renowned for helping young people realise their potential and cultivate the right mindset to engage with today’s changing society. Antoinette is passionate about trying to start teaching children in schools as young as 10 about how to save, budget and get ready for the future. She explained, “Young people grow up with no experience of what life and its challenges are all about. I think it is very important to take ownership and control of the choices you make, but sadly young people are not prepared for this. I am trying to change this and I hope I can start making a change as the future generation need to understand about money, budgeting and saving for their future.”
They have some excellent advice for first time buyers and said, “Always contact the experts before you start. It is great to do research but some people try to bypass speaking to the right people and can get into lots of difficulties. Contact a reputable mortgage broker who will give you the correct information about your finances and what you can actually afford as it will pay dividends in the long run. Create a list of important things you want in a home. Your first home is unlikely to be your forever home but you need to understand what is attainable. If you have three children then you will need a two bedroom property at the minimum. If you have a car check out where you can park it – the list should consist of your needs compared to your wants and you might have to make sacrifices along the way.”
Antoinette and Tayo are helping so many first time buyers with their passion and expertise – they truly are inspirational.
"INITIALLY I WAS APPREHENSIVE ABOUT MOVING TO KENT AS IT WAS FAR FROM EVERYTHING I KNEW. HOWEVER, I UNDERSTOOD THAT SACRIFICES ARE ESSENTIAL FOR PROGRESS... BUT IT IS WORTH IT IN THE END TO GET ON THE PROPERTY LADDER"
SPEED UP YOUR SAVING
We all know that we need to save for a deposit if we want to get a foot on the ladder, but it’s a lot easier said than done! Debbie Clark summarises some small changes which can accelerate your saving journey. As
the
old saying goes, if you look after the pennies then the pounds will look after themselves!
Let’s start with the boring stuff. It’s not possible to know where you can make savings unless you know where your money is going. Start by taking a thorough look at your online banking; most banks have tools to help you analyse your current spending – use them!
Some spending is non-negotiable, namely your rent and bills. Do you know when this money leaves your account? If you are paid monthly, it is useful to time these for just after payday so you can clearly see what money you have available for the rest of the month. Even better if you can automate saving at the same time – make it a non-negotiable too, rather than hoping there’ll be some left at the end of the month.
While some outgoings are essential, don’t assume savings are impossible. With most insurance firms, for example, you pay a premium to pay monthly. If you can afford to, pay up-front. It may feel like a big hit to your savings but will save you more in the long-run. Check your utility companies and mobile provider too to check you are getting the best prices. If you are able to make savings, automate that saving too – you’ve already been paying it so won’t feel the hit.
There are likely other areas you can identify where you could make savings, however small. Many people have unused subscriptions, or long-forgotten memberships, for example. Your online banking is also a great place to check for these. Be honest with yourself about how much you are using these subscriptions, and if you would miss them. If you are keen to take a deeper dive into your spending, apps like YNAB and Mint can help you to track your finances systematically and identify any patterns.
In any household, food shopping is one of the biggest expenses, so this is another great place to make small changes. Meal planning will help save money and avoid unnecessary waste, especially if combined with batch cooking, so try to always shop with a list and stick to it, opting for generic products, not brand names. Look out for
community pantries in your area too –helping the planet while you save.
Saving for a new home is also the perfect time to declutter, embracing minimalism! Could you make some money selling items on Vinted or Facebook Marketplace? It might help to ask yourself if you envisage those items in your new home. When shopping, focus on only buying what you really need. If you know you’re an impulse buyer, try imposing a 30-day rule – if you’re tempted to spend, wait. If you still want it a month later, go ahead! However, don’t make any purchases without doing your research…
The internet makes it very easy to compare prices fast. There are also usually discount codes to be found if you look hard enough, and always check to see if cashback is available (take a look at Topcashback, Quidco and other major cashback sites). Check too for any loyalty rewards or offers from your bank or credit card.
Planning for your future home is a great time to focus on your health too – reducing or quitting tobacco or alcohol will have fantastic benefits for both your health and finances. If you’re a gym member, consider switching it up and exercising at home, using online workouts or apps to make savings on a pricey membership.
Remember, saving doesn’t have to be lonely. Chances are if you are struggling to save, friends are too. Talk to them about your goals and plan activities together like walks, movie nights and free museums. You could plan a "no spend weekend" with friends or family too, using up leftover food from the week.
You could even suggest book swaps with friends, or skills swaps (“Could you help with some DIY, and I’ll do your nails?”) to allow you to enjoy some luxuries that you may otherwise be missing while saving.
Finally, with the festive season on the horizon, be careful not to let all your hard work go to waste. Budget frugally for any gifts or special events and, when you’re tempted to blow that budget, keep the dream of that first Christmas in your own home firmly in the front of your mind!
Having a healthy credit score can be the key to unlocking a great mortgage deal. Your score shows how lenders will view your creditworthiness – which is your ability to manage credit well. So, the better your score, the more likely you are to be accepted at the best rates.
Here’s my top tips for how you can improve your credit score:
Check your report and score
You should regularly check your free Experian credit report and score so you know where you stand. If you’re applying for a mortgage, you’ll want to check at least six to 12 months in advance. Then you can monitor your credit score to track your progress and make sure you’re ready to apply.
Pay your bills on time
Just one missed payment can have a big impact on your credit score, so you’ll want to make sure you keep all your payments up to date. Setting up direct debits will help to avoid any mistakes.
Reduce credit card balances
Having credit card balances that are close to your credit limit can have a negative impact your score. So, think about paying balances down before you apply. A good rule of thumb is keeping your balances below around 25% of the credit limit. If you’re on a promotional rate this rule might not apply in the same way.
Get on the Electoral Register
Being on the Electoral Register not only improves your Experian credit score, but it also helps lenders identify you when you apply. Just make sure to re-register as soon as you move into your new home.
Don’t apply for lots of new accounts
Applying for lots of accounts in a short space of time can reduce your credit score. So, try not to take out any new credit for a few months before you apply for a mortgage.
John Webb, Consumer Affairs Manager, Experian
HOMES ON THE MARKET...
CENTRAL MANCHESTER
L&Q at Victoria Riverside
This contemporary collection of 128 one and two bedroom shared ownership apartments is situated within Manchester’s Green Quarter. The development is conveniently located moments from some of Manchester’s best green space and a short walk from Manchester Victoria station, offering regular services to Liverpool in less than 40 minutes, Leeds in 55 minutes and Manchester City airport in 30 minutes. Residents will have access to the on-site gym, concierge service and co-working space, while being within walking distance of a selection of independent restaurants, bars, cafes and shops. Deposits start from £8,663.
lqhomes.com/victoriariverside 01619 680 022
SUNNINGDALE
Sunningdale Park
Sunningdale Park is a new collection of one and two bedroom homes, ideally located between Sunningdale and Ascot and set within 47 acres of historic Grade II listed parkland dating back to the nineteenth century. A former country estate, residents of Sunningdale Park will bene t from high speci cation homes and the surrounding vast country park on the doorstep, complete with gardens, lakes and extensive natural woodland. Sunningdale Park is the ideal place to relax, with woodland trails, wildlife and spectacular views.
First time buyers Samantha, 31, and Sean, 30, are the proud owners of a new two bedroom house at Chesterford Meadows in Great Chesterford, Essex. The savvy savers were amazed to be able to achieve this two years sooner than originally planned, thanks to a generous incentive from The Hill Group.
Samantha explains, “In three years, we’d saved £30,000, but the reality is that this isn’t enough to buy a home, especially in this area. Although we knew we didn’t have enough in the bank yet, Chesterford Meadows was on my radar, and I couldn’t get it out of my mind. I persuaded Sean that we should go and take a look and Alan in the sales of ce here was really encouraging.”
This brand new collection of two and three bedroom houses is just moments away from the vibrant town centre. The energyef cient homes are designed to optimise space and light, providing cost-saving bene ts. Characterised by high-quality and elegant nishes, they feature modern interiors, spacious living areas and integrated appliances. They also offer a private rear garden and allocated parking. Handily, Crewe’s historic railway station is one of the biggest and best connected in the North West, with fast connections to stunning rural settings and major cities.
Like many, the couple had assumed that they would need to use a Government scheme to buy their own home, so were surprised when Alan explained that with the housebuilder’s deposit contribution incentive, which was available on selected plots, they could receive a gift of £15,000 towards the house; enough to boost their savings to the 10% deposit needed to secure a mortgage.
“We were bowled over by the outcome,” Samantha recalls. “It felt too good to be true – so we called our parents! We returned with them a few days later and secured the house with a £2,000 reservation fee. It was such a rare but very real opportunity.”
The lucky pair love their new home with its low energy bills and highquality xtures and ttings. Samantha says, “Moving into a new build home has been a dream. My mum bought a new home with a different builder and there were so many extras that she had to pay for, on top of the purchase price. With Hill, xtures and ttings are all amazing quality, so there is no need to upgrade. There were no extra hidden costs. We have an en suite bathroom, stonework surfaces, a beautiful stylish kitchen, six solar panels, under oor heating, a shed, landscaped garden and an electric car charging point.”
For Samantha, however, the biggest bonus is the security their new home provides. “The best thing about our move is that we are no longer beholden to a landlord who could ask us to move at any point. This is our home and our future. We still can’t believe we’re here!”
DIDCOT, OXFORDSHIRE
Willowbrook Park
Aimee, 26, has recently purchased a one bedroom Countryside Homes apartment for £228,000 at Base at Newhall in Harlow. The highly driven personal assistant began saving for a deposit at the age of just 18 whilst living with her parents and her younger sister in Great Dunmow.
18, while living
“I knew what I wanted to do,” she said. “I didn’t want to go to university and get saddled with debt. I wanted to get a job and save to buy a home of my own. So that is exactly what I did.” She left school on a Friday, started her job as a personal assistant the following Monday, and immediately began putting money away.
In 2023, Aimee began her property search. She says, “I wanted to live somewhere not too far away from mum and dad and close to a railway station which could me get into central London easily for my job in the City, whilst still being able to enjoy the green spaces around the area. I was looking at older properties because I thought they might be more affordable, but mum spotted Base at Newhall, a Countryside Homes development in Harlow.”
while still being able
short term, on renovation and DIY costs, and long term, on energy bills. She decided to adviser was
Having conducted some further research, Aimee realised that a new build was a great option for her; it would offer savings in both the short-term, on renovation and DIY costs, and the long-term, on energy bills. She decided to view a show apartment at Base at Newhall. “It was lovely and Nicole the sales advisor was fantastic,” recalls Aimee. “I knew they were offering a deposit contribution which brought a one bedroom in the Nova Apartments building to within my budget.”
Aimee promptly reserved an apartment off-plan which meant she was able to put her stamp on the place even before moving in, choosing the carpets, ooring and kitchen. She was even able to visit and see the progress of her new home, building her excitement for completion day.
“I owe so much to my parents who allowed me to live rent-free at home so I could save up to buy my own place,” a grateful Aimee acknowledges. She is now loving having a space of her own to entertain, from enjoying a Chinese takeaway with her mum on the rst night in her new home to hosting friends.
She concludes, “Some nights, I look around this stylish modern apartment and have to remind myself that it’s actually my own home. That is a great feeling.”
Applications are now open for a range of two and three bedroom homes, including a further phase of houses in November, further apartments in December and more houses in early 2025. Located in a thriving town, with the town centre less than a mile away, this development has excellent road and rail links. Didcot Parkway station, which is well served by regular trains to London, Reading and Bristol, can be reached on foot. Upon completion there will be a picnic area, benches and a proposed play area to be enjoyed by residents and visitors. A local connection to South Oxfordshire is required for the houses only.
*Based on a 40% share of the full market value of £250,000
Minutes from the beaches and bays along the Kent coastal path, this development comprises 53 new homes in a range of styles, including one and two bedroom apartments. The one to four bedroom homes have been carefully designed for modern life, with contemporary interiors, spacious layouts and exteriors that effortlessly blend into their coastal surroundings. Lanthorne Place is a 20-minute walk from the amenities in the coastal town of Broadstairs. Broadstairs station offers direct services into London St Pancras in 80 minutes, and London Victoria in just under two hours.
Lyon Quarter is a contemporary collection of stylish homes featuring studio, one, two and three bedroom apartments. These homes offer high-speci cation interiors and quality nishing touches, with contemporary designs to suit modern living. Residents will enjoy landscaped podium gardens in addition to a private balcony or terrace. Hove station is a four-minute cycle or drive away or a 14-minute walk, with trains to Clapham Junction in under an hour and London Victoria in just over an hour. It takes only a few minutes longer to reach London Bridge. Brighton station is walkable in 19 minutes or an eightminute cycle or drive away, with even more commuting options.
lyonquarter.co.uk 01273 051 477 FROM £100,000* FROM £375,000 FROM £80,000*
*Based on a 25% share of the full market value of £320,000
Dunmow in Essex.
COLDEAN, EAST SUSSEX
Bluebell Heights
The nal 33 homes have launched here, amid the beautiful Stammer Park Nature Reserve, and within easy reach of Brighton. One, two and three bedroom apartments in The Wild Cherry collection are ready to move into, boasting beautiful rural views and landscaped communal gardens. Homes feature superior insulation, double-glazed windows and solar panels on the roof. Buyers also bene t from private outdoor space and allocated parking. The development offers great transport links, with a bus route from Coldean to Brighton on the doorstep,and easy access to the A23 and A27.
*Based on a 25% share of the full market value of £267,000
HARROGATE
Kingsley Meadows
The Gables
ATTLEBOROUGH, NORFOLK
The rst homes at The Gables, in the market town of Attleborough, have been launched. With a selection of three and four bedroom homes, the exteriors re ect the traditional architectural character of the area, while the interiors deliver contemporary, open-plan kitchen and living spaces. All homes include energy-ef cient features and superior internal nishes. Cycle and pedestrian routes are plentiful. Residents can easily walk into historic Attleborough, with Norwich and Cambridge reachable by train in 21 and 57 minutes respectively (Attleborough station is just a mile from The Gables).
*Based on a 40% share of the full market value of £290,000
Aaron and Nichole, along with their threeyear-old daughter, moved into their three bedroom semi-detached home at David Wilson Homes’ Richmond Park development in December 2023. The Whit eld couple, both 31, made the bold decision to live with Aaron’s family for four years to enable them to leapfrog into a family home.
The latest homes at this delightful development should complete in spring/summer 2025. These two and three bedroom energy-ef cient homes offer private gardens and allocated parking. Kingsley Meadows is less than two miles from the city centre, on the north east edge towards Knaresborough and York. Looking out to rolling green elds, the development has a rural feel, but offers all the convenience of living in a thriving town with excellent commuter links. guinnesshomes.co.uk/developments/kingsleymeadows/shared-ownership-harrogate 0300 456 0522
*Based on a 40% share of the full market value of £297,500
Heylo @ The Poppies
MAIDSTONE, KENT
Available with Home Reach, these two bedroom apartments are surrounded by fantastic amenities with Hayle Nature Reserve and Mote Park a 15-minute drive away and plenty of retail parks within a ve-minute drive. There are Ofsted Outstanding-rated schools close by with plans at the development for a primary school, medical centre and play area. Commuters are served by three nearby stations, with services to London. All homes have EV charging points.
homereach.org.uk 020 3744 0415
Aaron, a Border Force Of cer, comments on their journey, “We have been prioritising saving and being careful to live within our means and one way we feel we achieved this was living with my parents for as long as possible. With the arrival of our daughter, it would have been easy to jump ship and to get stuck in the rental trap or buy a property we would grow out of in the next two to three years. Living as a multi-generational family meant that we could save way more than we could if we were renting and save on some childcare with my parents too. It was tough at times, however, we stuck with hardcore saving while making some big sacri ces, like not having control of what was on TV!” The couple purchased the three bedroom semi-detached house for £316,995 with a £16,000 deposit and have found the process of buying, and adjusting to paying a mortgage, smooth. “Our monthly costs are now around £1,400 a month however we were used to putting lots of money away per month for saving and being very frugal with our luxuries. Buying a new build is also a simpler process as there was no chain to worry about, and we love that the new home is a blank canvas and that we were able to specify some of the nishes.”
This new home is the start of an exciting new chapter for the family. “Moving home every two to three years as families grow and need more space is costly, and we’ve seen many of our friends get tied up in moving and legal fees. We wanted to invest in our future for both Nichole and I, and our daughter. Richmond Park is a long-term project and we aim to invest our time and effort into our house, now we have ample space for our daughter to have a spacious room and a primary school is on-site too. We feel by going down this route we will reap the rewards by not feeling suffocated in our own home.”
A SIMPLE GUIDE TO LONDON LIVING RENT AND RENT TO BUY
If you are struggling to save for a deposit to buy your first home, then consider London Living Rent or Rent to Buy. Both schemes offer first timers a home at below market rent, which allows you to build up your savings and ultimately buy your home through shared ownership
LONDON LIVING RENT HOW IT WORKS
Funded by the Mayor, the idea behind London Living Rent is to help people switch from renting to shared ownership. It is designed for people who want to build up their savings to eventually buy a home through shared ownership.
London Living Rent offers affordable homes for private rent on shorthold tenancies for up to three years.
Simply:
9 Find a London Living Rent home that suits you and your needs
9 Rent the home at a discount
9 Save the discount for your deposit
9 Buy shares in your home through shared ownership.
Discounted rental contracts can be renewed, if needed, for up to 10 years after the launch of each scheme; during which time, you will be able to gradually build up your deposit.
When you’re ready, you have the option to buy the home you’ve been renting (or another eligible property) on a shared ownership basis. The good news is that when you buy is flexible, and the housing association will support you to save during your rental stay, so you can buy at your own pace.
ANY QUESTIONS?
Do I qualify for London Living Rent? To qualify for London Living Rent you must meet all of the following criteria:
9 Your annual household income must not exceed £60,000
9 You must live or work in London
9 You must be unable to buy a home, including shared ownership, in the local area
9 You must not own a residential property in the UK or overseas
9 You must meet the minimum income required for your preferred property
9 You must meet lenders' general criteria to obtain mortgage finance.
The full eligibility criteria and priority policy for a particular development can be found on the advertised listing.
Can I move to an alternative London Living Rent apartment once my term ends?
You can’t move to an alternative if you’ve completed the stated London Living Rent term (usually five to 10 years).
Must I save a minimum amount each month?
You are the best judge of what amount is affordable for you to save each month. By renting through London Living Rent you benefit from a below-market rent so will have the ability to save based on the minimum income requirement for your London Living Rent home. The more you save, the quicker you will raise the deposit required to buy your first home.
RENT TO BUY
Rent to Buy helps tenants in England save for a deposit to buy a home by offering properties at a discount. This is normally 20% below market rent. The scheme is available in England, apart from London. Properties in London are covered by a separate scheme called London Living Rent.
ELIGIBILITY
To be eligible for Rent to Buy, you must be:
9 In full or part-time employment
9 A first time buyer
9 Able to pay your rent and save for a deposit at the same time.
You may also be eligible for Rent to Buy if you are returning to homeownership following a relationship breakdown.
A landlord may check your income and credit history to decide if you’re eligible.
HOW THE SCHEME WORKS
You apply to rent a property that is in the scheme. If you’re considered eligible, and the property is still available, it will be offered to you.
Your initial tenancy agreement will be for up to two years. After that, if you need more time to save for a deposit, your landlord may agree to extend your tenancy.
If you do not pay your rent on time and follow the terms of your tenancy agreement, you may not be allowed to stay in the scheme.
You can buy a home as soon as you’ve saved enough deposit and can get a mortgage.
HOW TO APPLY
If you live in England (excluding London), you can search for organisations that have Rent to Buy homes using the shared ownership scheme service.Properties in London are covered by a separate scheme called London Living Rent.
COUNCIL AND HOUSING ASSOCIATION HOMES
Some local councils and housing associations advertise Rent to Buy homes. Check the shared ownership scheme service or with your local council or housing association for more information. There may be extra eligibility requirements to apply.
BUYING A HOME
You can use the deposit you’ve saved to buy any home, including those available using an affordable homeownership scheme.
IF YOU WANT TO BUY THE HOME THAT YOU ARE RENTING
You may be able to buy the home that you’re renting if your landlord agrees.
If your landlord decides to sell while you’re a tenant they must
Step one
Find a London Living Rent or Rent to Buy home that is suitable for you
give you the option of buying your home first. The price you pay will be the property’s market value. This may be more or less than when you first rented your home.
Check with your landlord whether buying the home you’re renting is an option.
BUYING THE HOME YOU'RE RENTING THROUGH SHARED OWNERSHIP
You may be able to buy the home you’re renting through the shared ownership scheme if:
9 Your landlord agrees
9 You’ve saved enough deposit to buy a share
9 You can get a mortgage
9 You meet the shared ownership eligibility requirements.
Check with your landlord whether buying the home you’re renting through shared ownership is an option.
Step two
Rent the home at a discount
Step three
LONDON LIVING RENT AND RENT TO BUY WITH L&Q
With nearly 60 years’ experience, L&Q is the capital's largest landlord and provider of affordable homes. For renters who are eager to step on to the property ladder, but can’t yet afford to do so, L&Q offers London Living Rent and, for those outside the capital, Rent to Buy
Both schemes enable you to increase your savings by renting at a discounted rate to what you would pay for a similar property on the open market. The main benefit is that through either of these schemes you can go on to purchase the property you already call home via shared ownership or on the open market.
Andrea Palmer, Head of LLR at L&Q, comments, “At L&Q, we are committed to providing affordable pathways to homeownership through both the London Living Rent and Rent to Buy schemes. These initiatives provide long-term support to those who are aspiring to buy their first home but are currently unable to do so. Set at discounted rates, London Living Rent and Rent to Buy provide an opportunity for would-be buyers to increase their monthly savings towards a deposit.
Helping to break down one of the key financial barriers to homeownership is crucial – alongside providing a stable, quality home and real sense of community for all L&Q customers.”
BARKING
Barking Riverside
L&Q is offering one, two and three bedroom
CASE STUDY
Able to save close to £700 a month thanks to the London Living Rent scheme, FrancescaRapolla, a Scientific Affairs Manager, managed to buy a home in the capital in two years.
LLR homes at Barking Riverside, a new east London neighbourhood bringing new homes, award-winning community facilities, transport links and green spaces. Increasing connectivity and providing quick routes for commuters, the development has its own Overground station on the Suffragette Line and an Uber Boat by Thames Clippers Pier.
L&Q’s LLR homes feature flexible open-plan living spaces, a private balcony or terrace, spacious bedrooms, and kitchens with integrated appliances. Families moving to the development are well catered for with seven schools outlined in the masterplan, five of which are open.
She explains, “I had been living at another Intermediate Rent development with a different housing provider, but when they changed the purpose of the building, we were told to move on. That was two years ago now, and it was at that stage that I came across L&Q’s London Living Rent homes at The Sugar Works in Royal Docks. I already knew about the development, so I was interested to find out more.”
Francesca learnt that L&Q’s collection of studio, one, two and three bedroom LLR apartments at The Sugar Works were a short walk from Pontoon Dock DLR station, allowing for quick transport links into central London. All apartments at the development are finished to the highest standards, with modern fitted bathrooms, generously sized bedrooms, and open-plan kitchens with fully integrated appliances.
LLR is a stepping-stone to homeownership, designed to enable current tenants to rent a home at a discounted rate, while saving towards a deposit for a first home. The rent is set at one-third of the average local household income in the borough where the property is located.
She comments, “I was really excited about the LLR homes at L&Q at The Sugar Works – they offered everything I was looking for in terms of location and neighbourhood amenities, transport links to work and specification. As a single renter, LLR was a fantastic option for me. It would enable me to rent a beautiful home at a discounted rate and put my savings towards a deposit. I was eager to buy in London, but it seemed out of reach on my own. I got a lot of guidance on managing my finances, and did a lot of research, so was ready to commit to making the monthly savings, which are flexible to your own goals.”
L&Q at Queen’s Quarter is a new collection of one, two, and three bedroom LLR apartments close to shops, BOXPARK and East Croydon station. Homes have a balcony, integrated appliances, an en suite and access to a rooftop garden.
After two years of saving under the LLR scheme, and with some support from her parents towards a deposit, Francesca bought a one bedroom apartment in the Royal Docks area on the open market. “The great thing about LLR is that you have an assured tenancy of a minimum of three years, so it allowed me to really plan out my savings journey, taking into consideration things like going on holiday and enjoying my lifestyle. I would absolutely recommend the scheme.”
Looking ahead, she says, “I have a five-year fixed mortgage on my flat, so I’ll be here for at least a little while. I’ve settled in with my cats, Elsa and Camillo, and I’m enjoying being a homeowner – it’s all thanks to the savings I was able to put away as a London Living Rent customer.”
L&Q is currently marketing London Living Rent homes across London, in Barking & Dagenham, Croydon, Hayes and Hendon. Please visit, properties.lqhomes.com/properties-to-rent/all for more information.
LONDON LIVING RENT AND RENT TO BUY WITH SO FLEXI
Affordable housing provider SO Resi (part of Metropolitan Thames Valley Housing) offers London Living Rent through its dedicated SO Flexi brand. SO Flexi offers you an alternative way to get on the property ladder allowing you to rent at a reduced market rent to save for your deposit, and then buy your home (or another home if you prefer)
Kevin Sims, Director of Sales & Marketing at SO Resi, comments, "Renting in London and the South East is an extraordinarily expensive affair, and many tenants don’t have enough money at the end of the month to put towards saving a deposit to buy a home. London Living Rent and Rent to Buy offer a chance to bridge the gap between renting and homeownership, unlocking the chance to get on to the property ladder for hundreds of ordinary renters. The scheme allows tenants to secure a medium-term fixed rental contract with us, at a discounted monthly rate, with a view that the buyer will use the tenancy period to build up a deposit and buy the property with shared ownership at the end of the term. It offers a chance of a stable tenancy, with guaranteed outgoings, and a chance to build up their savings and buy."
ACTON
SO Flexi Acton
The final few apartments are remaining at SO Flexi Acton in the Acton Park conservation area, available with London Living Rent. Within walking distance are a range of shops, restaurants and green spaces, while excellent travel connections from Acton Main Line and East Acton station offer quick access into central London.
Each apartment benefits from its own balcony or terrace, alongside communal green outdoor space with play equipment. Every home features carefully designed interiors to maximise space and natural light, and integrated Zanussi appliances to kitchens. All homes also benefit from covered secure cycle stores. Applicants must live or work in the Acton area.
soresi.co.uk/soflexi/acton
SOUTHALL
SO Flexi Southall
Tia Costell, 25, who was previously spending half of her income on a tiny one bedroom flat in Brentford, has just moved into a two bedroom apartment at SO Flexi Acton using London Living Rent, and hopes to buy her first home in three years.
Tia has agreed a three-year fixed tenancy and is paying £1,250 in rent per month. She says, “I cried when I moved into the apartment. For the first time in my life, I have a place that I can afford to live in, and a realistic plan to get on the property ladder. I’m saving £250 on rent alone each month – for a bigger place! – which is going straight into my savings account to build up my deposit. I could never have saved that kind of money living in my old flat.”
Coming soon – launching early 2025 SO Resi Southall will offer 89 studio, one, two and three bedroom apartments through London Living Rent. Just a four-minute walk to Southall station on the Elizabeth Line, these apartments feature residents' shared amenity terraces on the ground, fifth and sixth floor, plus a play area. There are also cycle parking spaces and a car club membership to be provided free for three years for each first occupier.
CHESTERFIELD
SO Flexi Clay Cross
Coming soon – launching autumn/winter 2024
Launching later this year, this development features 32 three and four bedroom houses available using Rent to Buy. Clay Cross in Derbyshire is famous for playing a part in the industrial revolution and being the home of George Stephenson, who became known as the father of the railways in Victorian times. The local high street has a range of familiar brands and there is a large supermarket less than a mile away. A short drive will take you to the charming town of Chesterfield with its bustling markets and independent shops. It is also home to the largest church in Derby, affectionately named St Mary’s Crooked Spire.
Tia, a self-employed hair and make-up artist, underwent a thorough financial assessment to reserve the apartment. “With London Living Rent you have to demonstrate that you can’t afford to buy the property now, but would be able to in a few years. I knew my earnings made me mortgage-eligible, but I didn’t have enough savings to buy with shared ownership – so London Living Rent will help me to get into a financial position to put down a deposit.” Tia has agreed a financial plan with SO Resi to build a 5% deposit over the course of three years.
“My minimum 5% deposit goal is £9,000, so I agreed to save £3,000 each year with SO Resi – that’s really achievable for me. I have agreed to check in with SO Resi each year to make sure that I am still on track. I’d completely written off the idea of owning my own home before this. I found out about London Living Rent through a Christian YouTube influencer, and it has really changed my life."
CASE STUDY
WESTON HOMES GIVES FIRST TIME BUYERS A HELPING HAND WITH HUGE SAVINGS
For many first time buyers, saving for a substantial deposit towards a first home can feel daunting. According to a report by uswitch.com, it can take on average 12 years for buyers to save enough money to make the leap into homeownership. Awardwinning housebuilder Weston Homes is leading the way in its commitment to empowering first time buyers by providing financial assistance to get buyers moving. Offering a 5% deposit contribution or up to a £20,000 saving* on a new home makes the dream of having the keys to your own front door more accessible
SAVE WHILE YOU WAIT
Purchasing a new home can be a stressful time, which is why Weston Homes’ worryfree First Time SecureBuy scheme (FTSB) offers a way to secure a new home, off-plan, at your chosen development with just a £500 reservation fee.
The price you pay is locked in on the day of reservation, so even if the property’s value increases before you’ve legally completed, you’ll only pay the price agreed on the day you reserved the property. Not only does this scheme offer a secure early reservation, it only requires a 5% exchange deposit (usually 10% is required). Then, around six months before your home is ready to move into, you apply for your mortgage.
Weston Homes provides a full refund of your £500 reservation fee and 5% exchange deposit if your circumstances change before the build is complete, offering peace of
mind that you won’t lose your hard-earned money. Additionally, waiting for your new home to be ready gives you an opportunity to save towards moving costs or furniture and curtains.
First time buyer Andrea, who used the FTSB scheme when she purchased a two bedroom apartment with Weston Homes, said, “There’s no way I could ever have dreamt of owning a property without something like Weston Homes’ First Time SecureBuy scheme. I’ve wanted something to call my own for years, but it is such an extremely difficult task for first time buyers of my generation. Weston Homes’ scheme is instrumental in helping people like me get that first step on the ladder.”
BUY OFF-PLAN IN GREAT LOCATIONS
From Barking to Brentwood and Sydenham to Wood Green, Weston Homes has a wide range of homes to suit every lifestyle in convenient locations.
STYLE THE WAY YOU LIKE IT
Buying a new property off-plan from Weston Homes allows you to choose
from a wide range of designer options and personalise your home. Every Weston Homes property also has a fully inclusive specification, at no extra cost. First time buyer Annie, who bought a two bedroom apartment with partner David, said, “I instantly fell in love with the big, light space. The specification included everything and we never found this package anywhere else.”
As a multi-award-winning developer, Weston Homes is confident that it is best placed to help first time buyers achieve their dream of homeownership, and first time buyers can benefit from fantastic savings. Find out more today about Weston Homes’ luxurious new and converted one to five bedroom homes across London and the south east. Prices start from £176,000 for Discount Market Sale* homes, allowing buyers to own 100% of their own home with a saving of up to 30% (price includes saving). Full market value homes start from just £220,000.
Contact Weston Homes today by visiting weston-homes.com. Marketing suites and show homes are open daily from 10am to 5pm
*T&Cs apply, see website for details
Annie, happy Weston Homes buyer
REFLECTING ON FOUR YEARS OF THE SHARED OWNERSHIP JOURNEY WITH PEABODY
Nearly four years since they moved in, Peabody New Homes caught up with some of its happy homeowners to see what life has been like since the keys were handed over and the packing boxes were put away. Residents Josephine, who purchased at Motion in east London, and Mary, who lives south of the river at Thamesmead, revisited their homebuying experiences...
Why did you decide to buy somewhere rather than rent?
Mary, “Originally, I was looking to rent, with a view to buying at some point after that. Friends of mine had purchased through the Help to Buy scheme but I knew it would be unlikely for me to save the level of deposit required. I was really surprised when I discovered that I could afford to buy my own home with a deposit of just £10,000.”
How has becoming a homeowner been?
Josephine, “The new responsibility felt daunting at first, but I adjusted to the changes really quickly and much prefer it. Knowing I have money going into an investment for my future rather than renting and paying off someone else’s mortgage is a huge relief. It offers more security, no one can ask me to move out and I don’t have the stress of trying to find new flatmates. Shared ownership has enabled me to do this alone and that is something I feel really proud of!”
How have you personalised your space?
Mary, “I have discovered pops of colour are key! I have plants everywhere (too many perhaps), I even bought a bright sofa to match the kitchen units. Buying a two bedroom apartment was a good idea as I work solely from home and can maintain a separation from work life and home life with a dedicated space for my business.”
Is there a nice feel to the development you live at?
Josephine, “The communal garden is a great space and it’s so nice to see and hear children playing outside. If I am not on my balcony, I tend to spend most of my time on the roof terrace. It’s massive, we all meet to have drinks up there and have even
hosted a rooftop party. In fact, I have forged a friendship with one of my neighbours through our shared love of the roof terrace! Everyone here is so friendly.”
Would you recommend shared ownership to others?
Mary, “Yes! If you are looking to buy your own home and you are a first time buyer or looking to do this alone with a lower deposit, then shared ownership is a fantastic opportunity to step on to the property ladder. You don’t need a huge amount of money, it’s a stepping stone you can achieve on your own, you can grow your equity and have a place to call a home of your own. There is a lack of understanding around it, a lack of education; shared ownership offers great potential and I think more people should know about it!”
What is it like living on your own? Josephine, “I love it, I have freedom now, I can have guests round whenever I like, I
never have to check if the kitchen will be free and I now get to see my parents on a monthly basis as they have room to stay with me! I absolutely love living alone, I talk all day for a living, so it’s nice to come home to the peace and quiet, be able to chill and know there is no mess, it’s the same as it was when I left for work in the morning – it gives me a chance to decompress.”
WHERE TO FIND SHARED OWNERSHIP PROPERTIES
Peabody New Homes, driven by a mission to create thriving communities, offers a diverse range of shared ownership homes throughout London and the Home Counties.
Explore Peabody New Homes’ latest collection of properties with deposits starting from as low as £11,750* at peabodynewhomes.co.uk
*T&Cs apply – see development pages for T&Cs and details, accurate as of August 2024
Mary, Peabody homeowner
PLUMLIFE – COULD OUR RANGE OF SERVICES HELP YOU?
From helping families to get their foot on the property ladder to helping fellow registered providers market and sell homes on their new developments – Plumlife provides the complete package
As a multi-award-winning organisation, we have built a reputation of excellence and our expert team of marketers, sales managers and sales advisers have helped to sell thousands of properties over a quarter of a decade across the North.
For our registered provider partners, we offer a complete insight, consultancy and sales package to ensure we generate quality mailing lists which will convert into sales.
We often start a relationship via consultancy services. We can provide full market research for new developments including demand analysis, neighbourhood intelligence and selling prices.
Added to this is the benefit of our own team’s considerable knowledge and data gained from selling a variety of city and suburban homes in areas across the North West. We are able to assist in determining suitable tenures, property mix, design, specification and pricing strategies.
After delivering this insight, our marketing and advertising team shapes campaigns for your target market and helps drive interest in your homes. Whether you want a new brand for your site, traditional brochures, social media presence or an exciting campaign that cuts through, our in-house team paired with our leading partner creative agencies will help you build up powerful mailing lists that convert into sales.
And if you need sales support, our friendly sales team, who consistently achieve customer satisfaction rates of over 95%, are new homes
experts. As well as having detailed knowledge of the entire process from application to sales completion, team members are the perfect people to guide buyers through their journey, ensuring that they have a positive association with your own brand.
As an example, we have recently been appointed as the sales agent at Salford City Council’s 177-home flagship
development, The Folds in Little Hulton.
The development is a mixed tenure site, including shared ownership, market sale and affordable rent properties and part of a growing portfolio of residential sites being developed by Salford City Council and Derive.
Prior to being instructed as the sales agent at The Folds, we worked closely with the
development team to provide a comprehensive pre-sales consultancy service to get the site sale-ready.
This work was complemented by our team’s knowledge of selling homes in nearby areas and we assisted in determining suitable tenures and provided expert suggestions for property mix, design, specification and pricing strategies.
After delivering this insight, the Plumlife team worked with Salford City Council to develop an exciting new brand which we are confident will appeal to the target market and build a powerful sales offer at The Folds. Our service includes multi-channel promotion, including advertising on portals such as Rightmove, social media campaigns and listing on the award-winning Plumlife website which has over 70,000 views each month.
Another customer, Cube Homes, is developing fantastic new market sale homes at its Weaver’s Croft development in Moorside, Oldham. The team has already built a strong mailing list in preparation for an autumn launch.
Cube’s Managing Director Chris Heath said, “Plumlife has delivered a professional service and we have since instructed it to work on further Cube sites following the success of the digital marketing activity, which is really paying off.”
If you feel our range of services could help your organisation, please call 0161 447 5050 or email sales@plumlife.co.uk to find out more information
IS SHARED OWNERSHIP THE KEY TO LIVING IN YOUR DREAM LOCATION?
You could be in your first home by Christmas, thanks to a number of shared ownership homes being released in affluent areas in the Home Counties, says Kevin Sims, Director of Sales and Marketing at SO Resi
Earlier this year, The Times reported that only one in eight first time buyers can afford to live in their local area¹. This statistic is not wholly surprising, following years of rising house prices and unstable mortgage rates for those looking to get on the property ladder. With that being said, if the shortage of starter homes persists, we risk failing a whole generation of young people who simply cannot afford to buy a home where they live.
The high costs of private renting pose a serious issue for first time buyers, as it is extremely difficult to build up a suitable deposit. Private renting also in turn pushes house prices up, creating an endless cycle of high costs.
This is where shared ownership can come into play, as it combats two huge barriers in the property market – expensive house prices and unachievable deposits. This is because the scheme allows buyers to buy a percentage share of a home, rather than the full market value. This means buyers
SO Resi Farnham, Surrey
Brightwells Yard, a shopping centre with a six-screen cinema, is right on the doorstep, with attractive open spaces close at hand to this development. Prices start from £70,000 for a 25% share of a one bedroom apartment with a full market value of £280,000. Estimated monthly cost: £963. soresi.co.uk/ nd-a-property/so-resifarnham/
SO Resi Cranleigh
Located in a village setting amid the backdrop of the Surrey Hills Area of Outstanding Natural Beauty, SO Resi Cranleigh offers a laid-back lifestyle at an affordable price point for young professionals and families. One bedroom apartments and two bedroom houses start from £85,000 (25% share).
can secure a smaller mortgage, with a lower deposit, while paying below-market rent on the remainder.
As an award-winning provider of shared ownership, SO Resi’s aim is to allow all types of buyers to take a step on to the property ladder, with the long-term goal of staircasing to 100% ownership.
Our newest development, SO Resi Henley-on-Thames, which launched over the summer, comprises 43 one and two bedroom apartments all available on the shared ownership scheme. Prices here start from £82,500 (25% share) for a one bedroom apartment in the heart of Henley-on-Thames, offering a rare chance of a deposit below £10,000 to live in the Oxfordshire town.
We also have three schemes live in Surrey – famously the most expensive county to live in the UK² – SO Resi Oxshott, SO Resi Cranleigh and SO Resi Farnham. Just a handful of shared ownership homes remain for sale in Cranleigh and Oxshott,
soresi.co.uk/ nd-a-property/so-resi-cranleigh
SO Resi Oxshott
with both developments offering one and two bedroom homes for sale with deposits under £10,000. SO Resi Farnham is part of the wider Brightwells Yard development, and offers one and two bedroom apartments in the centre of Farnham, offering local home movers and first time buyers the opportunity to get on to the property ladder for a fraction of the price.
Buyers can also make use of staircasing, which allows them to purchase an additional 1% share each year, which can be done at the touch of a button with no solicitors needed, making the ultimate goal of homeownership that little bit more achievable.
Two remaining homes are available from £106,875 for a two bedroom home (25% share), set in one of Surrey’s most sought-after locations. The development is surrounded by the woodlands and parkland of Prince’s Coverts, a wonderful facility for walkers, runners and cyclists. soresi.co.uk/ nd-a-property/soresi-oxshott
SO Resi Henley-on-Thames
Comprising 43 one and two bedroom apartments in the centre of the historic riverside market town, prices start from £82,500 (25% share) for a one bedroom apartment. All apartments come with a dedicated space in the parking court, and ground oor apartments include their own terrace enclosed with landscaping. soresi.co.uk/ nd-a-property/so-resi-henley-on-thames
Kevin Sims, Director of Sales and Marketing, SO Resi
MAKE THE MOVE TO A NEW BUILD HOME AT HEYFORD PARK, A NEW COMMUNITY NEAR BICESTER
With high-quality new build homes, attractive public green spaces, a bar, restaurant and new shops, Heyford Park is a thriving new community just 10 minutes’ drive from Bicester
Heyford Park is also home to many amenities and facilities including a school, nursery, gym, pharmacy, Sainsbury’s Local, hairdressers, tennis courts and much more. Dorchester Living has crafted a masterplan for the site that embraces its history while creating a vibrant new village centre, employment opportunities, schooling, and leisure and hospitality facilities such as a boutique 18-bedroom hotel, bar, restaurant and bowling alley. Regular community events bring residents together, including comedy evenings at the hotel and family fun days on the village green.
Built by Dorchester Living, an awardwinning developer known for its quality and luxury finishes, a wide range of new build homes is available, meaning whatever stage of life you are at – be that a first time buyer, a growing family or a downsizer – there is a home here to suit your needs.
The latest collection – Heyford Fields –includes nine different architectural styles, comprising two, three and four bedroom homes. The new build homes have been designed with steep gabled roofs, red brick finishes and sheltered porches, while internally they offer contemporary designs to suit modern lifestyles.
Ceiling heights are up to 2.7m (compared to the national housebuilding average of 2.2-2.4m), creating an elevated, bright, spacious feel. Open-plan kitchens and dining spaces are flooded with natural light, with floor-to-ceiling bi-fold doors, opening on to individual gardens. Upper floors comprise bedrooms with stylish en suites and built-in wardrobes.
Laura McLean moved into her new home earlier this year and has been getting to know some of her neighbours while watching Heyford Park continue to grow. “I like how friendly everyone is and how much Heyford Park is growing,” she says. “I’m excited to see it when more is completed. There’s activity in the day and when the evening comes the silence is bliss – it’s so
peaceful and pretty. Everything you need is right here in Heyford, the extensive facilities are incredible. The community feel is so homely, people look out for each other here and there are so many different clubs to get involved in.”
Like many others, Laura also likes Heyford Park’s convenient location and buzzing community feel, which means she can easily commute to work in Bicester, just 10 minutes away. “It’s so convenient for
work and also not far from Oxford; getting around is so easy and public transport links are great. The location is amazing, so close to towns yet beautiful countryside walks right from the doorstep, I love that there are so many places to walk and explore.”
Three bedroom homes are now available starting from £375,000. Appointments can be booked directly with Dorchester Living on 01869 238 238 or visit our website at heyfordpark.com
FINDING YOUR STYLE: WHAT’S ON TREND FOR HOME INTERIORS?
Thinking about how to style your first home can be exciting and daunting in equal measure. Our resident expert, Steve Hird, Director and Co-founder of showhome interior design specialist Edward Thomas Interiors, breaks down some of the most popular styles and how to recreate these in different rooms...
STYLE: SCANDI/HYGGE
Inspired by: Danish/Swedish/ Norwegian architecture and design
Best for: living room, kitchen/ diner, bedroom, bathroom
Probably one of the most enduring design styles, Scandinavian interiors offer a stylish beauty and simplicity. This style’s key principles emphasise minimalism and functionality, everything has both purpose and place. This combination of aesthetically pleasing yet practical interiors is what makes this style so popular.
Traditional Scandi decor has a light and bright feel, clean lines, and is characterised by a use of natural materials and patterns alongside neutral, earthy colours and unfinished woods. It makes for an extremely versatile base, with warmth and texture being added through accent colours or layered fabrics.
Another reason for the rise in popularity of Scandi design is the Danish concept, hygge. This introduced us to interiors specifically designed for comfort, those that embrace cosiness and relaxation. Think log burners, throws and cushions in luxury fabrics, warm lighting, hand-crafted accessories and you get the idea. The latest iteration of this is the Swedish “mysa”, which has similar connotations but also focuses on spaces to promote self-care and wellbeing. Scandi design is also extremely budget-friendly so is a great choice for first time buyers. IKEA anyone?!
STYLE: MODERN FARMHOUSE/ COTTAGECORE
Inspired by: quintessentially English rural decor
Best for: kitchen/diner, utility room, hallway
A style enjoying a revival right now is modern farmhouse. Appealing because it can work in both town and country locations, modern farmhouse takes its cues from the classic British country aesthetic. Think rusticinspired furniture and accessories, an emphasis on crafts and homemade items, and a desire to embrace a more sustainable, “back-to-basics” lifestyle.
Modern farmhouse goes hand-in-hand with the cottagecore trend that really took hold during the lockdowns when people embraced hobbies such as baking, knitting and gardening. Both styles have a relaxed, liveable, even vintage aesthetic focused on comfort and a slower pace of life. The key differences are that modern farmhouse is more uniform with colour and prioritises function, so repurposes rooms like the utility into a pantry or mud/boot room (“bootility” is my preferred description!), whereas cottagecore is more whimsical, introducing busy patterns and bright colours. Both styles can be achieved by upcycling vintage, secondhand or inherited pieces, making it an affordable option for first time buyers.
STYLE: DARK ACADEMIA
Inspired by: gothic architecture, classic literature, Harry Potter!
Best For: home office, dining room, reading nooks
Popular for the last couple of years because of TikTok and Instagram, dark academia has become a style to watch. It’s not for everyone as it embraces a bold, moody decor but can certainly make an impact.
Inspired by the gothic architecture of Oxbridge as well as classic libraries, dark academia design typically comprises panelled walls, shelves with a collection of quirky or nostalgic items, and distressed leather seating. Lighting is low level, fabrics are predominantly wood or leather, and colours veer towards richer shades such as navy, forest green, burgundy or black. But with splashes of brass for that “olde worlde” library charm!
Dark academia is a great style for rooms where you want to make a statement for example a dining room or home office, but also works in nooks or transitional spaces such as landings or under the stairs. There are some great wallpapers that mimic library shelves or panelling, plus scouring antiques fairs or flea markets might unveil some secondhand pieces to complete the look.
STYLE: MAXIMALISM
Inspired by: self-expression Best for: whole house!
Widely acknowledged as the antithesis to the long-lasting minimalist trend, maximalism is about having fun and expressing your personality, and where better to do this than in your first home?
Maximalism features prominent, bold colours, patterns and textures to demonstrate individual taste. Each room has character and brings its own joy through quirky and eclectic decor, avoiding any uniformity. Deliberately designed chaos, if you will.
Wall treatments can include colour block painting, wooden or mirrored panelling and dramatic patterned wallpapers (think botanicals, florals, animal motifs) often side by side to be deliberately contrasting. Don’t forget to look up too, ceilings are often overlooked but can really add depth and bring a design to life with hand-painted murals or canopies.
At the heart of the maximalist design approach is the focus on self-expression. It’s about curating meaningful collections; you could scour the local antiques market and display impressive vintage finds, scroll online marketplaces, or perhaps you collect souvenirs from your travels and could artfully arrange these as a reminder of where you’ve been?
There’s no right or wrong way with maximalism, and it can be achieved on all budgets, so let your creativity flow!
GUINNESS HOMES OFFERS OUTSTANDING AND AFFORDABLE NEW APARTMENTS IN LONDON
THE ONE HUNDRED, ALPERTON
Just launched, The One Hundred is located in a popular and well-connected part of the London Borough of Brent. Here, 51 of the 100 one, two and three bedroom apartments will be available to purchase through shared ownership.
Set in striking contemporary buildings with a communal rooftop garden, these energy-efficient new homes are finished to a quality specification throughout. The fitted kitchens come with integrated Zanussi appliances, while bathrooms are complete with sleek chrome features. The apartments all have a private balcony or terrace, some offering views over the Grand Union Canal and its towpath, ideal for enjoying a walk, run or bike ride. Perfect for unwinding, residents will also have access to the rooftop garden and podium garden
Being in Zone 3, this is a great location for commuters to travel into the heart of the city, with Stonebridge Park and Alperton stations both a 15-minute walk away with a tube journey time of around half an hour to the West End. The Overground services from Stonebridge Park make trips to the likes of Watford Junction, Clapham Junction and Stratford effortless.
There are plenty of other places to go within easy reach. BOXPARK Wembley is under 25 minutes away by bus, where residents can enjoy a diverse range of street
With average property prices for first time buyers in Greater London exceeding £492,000 at the end of 2023, according to the Bank of Scotland, purchasing a home outright in the capital remains out of reach for most first time buyers looking to start their homebuying journey. Help is at hand though, thanks to shared ownership, which gives a first timer a much more affordable opportunity to live in a new property, and Guinness Homes is offering this great scheme at developments across London
food and on-site events. For a superb choice of shops, places to eat and entertainment options, Brent Cross shopping centre and Westfield London in Shepherd’s Bush are both 30-35 minutes away.
Away from the crowds, Fryent Country Park is located a 25-minute cycle ride from The One Hundred. The expansive green spaces of Horsenden Hill Nature Reserve and One Tree Hill recreation ground are both just a short journey away by road or public transport.
SIGNAL PARK, TOLWORTH
The current phase of 211 shared ownership homes at Signal Park has been very popular, now 70% sold but with a selection of one and two bedroom apartments still available. When completed, the development will comprise 950 homes complete with landscaped podium gardens, a new public square and a new restaurant/cafe.
There’s an impressive specification to all of these pet-friendly homes, including stylish and contemporary open-plan kitchens with a range of Zanussi integrated appliances as standard. The attractive bathroom fixtures and fittings are also a highlight, and there’s a useful fitted wardrobe to the main bedroom.
Neutral shades to walls, high-quality flooring and tiling throughout provide a perfect blank canvas for decoration. The provision of a private balcony or terrace to every property makes Signal Park a real stand-out place to live.
The area has lots to offer across the
board. Within just a few minutes on foot are popular Italian and Vietnamese restaurants as well as the lanes and amusements of Hollywood Bowl. From literary festivals to drama and singalongs, the cornerHOUSE Arts Centre has something to entertain all ages, while Kingston-upon-Thames has the Bentall Centre and is also on the doorstep of Hampton Court Palace. Wimbledon Common, Bushy Park and Richmond Park aren’t far away for thousands of acres of open space, woodland and diverse wildlife.
Tolworth is in Zone 5 and provides some excellent public transport services. The railway station is only a couple of minutes’ walk from home at Signal Park, with direct services to the likes of Wimbledon, Clapham Junction and Waterloo (31 minutes), as well as several bus routes. Signal Park will be getting its own brand new bus stand too, making journeys even easier. Find
The One Hundred
Signal Park
EMBARK ON YOUR HOMEOWNERSHIP JOURNEY WITH ORIGIN HOUSING AT DACE HOUSE
Achieving homeownership, especially in London or the Home Counties, can seem a formidable feat. The initial deposit alone requires a substantial financial commitment, not to mention the hidden costs that come along with owning a home. Nevertheless, there is hope for prospective buyers thanks to housing associations such as Origin Housing
Celebrating a century of dedicated service to creating high-quality affordable homes this year, Origin Housing has been steadfast in supporting buyers towards affordable homeownership across north and central London, as well as Hertfordshire.
The latest development from Origin Housing is Dace House. Nestled in the vibrant heart of Colindale, this site will feature 46 one and two bedroom shared ownership apartments. Launching this autumn, Dace House offers 26 two bedroom apartments and 20 one bedroom apartments, each crafted with meticulous attention to detail.
The development presents three distinctive layouts, ensuring a variety of choices to suit different tastes and needs. Each home boasts state-of-the-art smart appliances, a private balcony, and access to a beautifully landscaped courtyard garden, providing residents with a harmonious blend of modernity and tranquillity.
Dace House’s location is steeped in history and modern convenience. Situated within Beaufort Park, north west London’s leading regeneration scheme, the site carries the legacy of the world’s first airfield and London’s inaugural flying school, Hendon Aerodrome. Its sought-after position near Edgware, Harrow, and Brent Cross places Dace House amid an array of bus routes and less than a mile from Colindale tube station, in Zone 4 on the Northern Line. This connectivity ensures that residents can navigate across London with ease.
A quick 12-minute ride on the Northern Line takes you to Hampstead, a location brimming with natural beauty and historical charm. From there, you can meander across the heath or visit Parliament Hill, which offers one of the most breathtaking views
of the capital. National Rail services from Colindale provide seamless cross-country travel, with convenient stops at both Euston and King’s Cross St Pancras on the Northern Line.
Dace House is not just about homes; it’s about creating a vibrant, thriving community. The development, along with the shared spaces and on-site amenities, fosters a sense of belonging and community spirit. Beaufort Park is a microcosm of urban living, seamlessly blending businesses, residences, and recreational spaces. Culinary delights await at the Bang Bang Oriental Foodhall, and daily conveniences are within arm’s reach, including farmers’ markets, supermarkets, gyms, libraries, a movie theatre, a Post Office, pubs, a dentist, pharmacies, hairdresser, and even a nursery – all within walking distance.
For those seeking some respite from
the city’s hustle and bustle, Beaufort Park offers ample opportunities to unwind in nature. Spanning 25 acres, the attractive park features a landscaped central square, a charming bandstand, children’s playgrounds, and several courtyards and manicured gardens, providing a serene escape amid the urban landscape.
Prices at Dace House start from £98,750 for a 25% share of a one bedroom shared ownership apartment (full market price of £395,000) or £131,250 for a 25% share of a two bedroom shared ownership apartment (full market price of £525,000). All properties will be ready to occupy from December 2024.
Embrace the opportunity to move into this exquisite development and become part of a dynamic and flourishing community.
For more information or to register interest, please visit originhousing.org.uk
NEW BEGINNINGS AT BIRCH FIELDS
Looking to take your first step on to the property ladder? Look no further than Birch Fields in Nottinghamshire, the latest gem from shared ownership specialist Snugg Homes
This stunning new development offers a variety of stylish, sustainable homes in an ideal location.
Perfectly situated just a stone’s throw from Nottingham, Birch Fields is the ideal choice for both first time buyers and families alike.
STYLISH AND SUSTAINABLE MODERN HOMES
At Birch Fields, you can choose from an elegant collection of two, three and four bedroom mews houses, semi-detached, and detached homes.
Each property type is precisionengineered and inside you can enjoy spacious interiors, large kitchen/dining rooms, and French doors that flood your home with natural light.
Plus, you’ll find contemporary threepiece suite bathrooms, spacious bedrooms and main bedrooms with en suites in selected models, each providing quality, contemporary living.
These modular homes are not only stylish but also sustainable, with a number of properties fitted with solar panels, making them some of the most energy efficient in the country.
DISCOVER ARNOLD
Arnold offers the best of both worlds – the vibrancy of city life and the tranquillity of the countryside. Located just a few miles from Nottingham, this bustling market town is perfect for those who want modern conveniences close to home.
With an array of independent shops, cosy cafes and traditional pubs, plus exciting plans for a new urban square in the area, Arnold is easily the perfect place for you to call home.
For those who love the outdoors, Nottinghamshire’s rich heritage and historic sites are within easy reach. Visit Newstead Abbey, home of Lord Byron, or explore
Gedling Country Park with its 240 acres of open space, footpaths, wildlife and stunning views over Nottinghamshire’s rolling hills and charming villages.
EXCELLENT CONNECTIVITY
Birch Fields is perfectly positioned for easy commuting and exploring the wider region. The nearby Carlton railway station provides connections to Nottingham and Lincoln, with the extensive UK rail network accessible from these city stations. You can reach London St Pancras or Manchester Piccadilly in less than two hours by train from Nottingham.
For those who prefer to travel by car, the A60, A46, and M1 are all in close proximity, offering easy access to Nottingham, the North and the South. Regular bus services connect Arnold to Nottingham, and the surrounding towns and villages, making it simple to get around for work or leisure.
SHARED OWNERSHIP MADE EASY WITH SNUGG HOMES
If you can’t quite afford the mortgage on 100% of a home, buying a shared ownership property with Snugg Homes could be an
easier way to get on to the property ladder. Here, you can buy a share of your home (usually between 10% and 75% of the home’s value) and then pay rent on the remaining share. You will even have the opportunity to buy more of your home at your own pace through the staircasing model, meaning you can eventually purchase your property outright.
The shared ownership scheme is open to anyone aged 18 or over, providing that the household earns less than £80,000. To be eligible, you need to meet the specified criteria and not own another home.
HERE TO HELP
The Snugg Homes team is on hand to answer any questions and support you every step of the way as you take the road to homeownership, whether that’s at Birch Fields or any of our other stunning development schemes.
To register your interest, please visit our website snugghomes.co.uk. You can also follow us on @SnuggHomes on X/Twitter or @snugghomes on Instagram and TikTok
DEPOSITS MADE EASIER
Taking a first step on the housing ladder is less of a challenge with a deposit contribution from Countryside Homes
Saving up for a deposit is probably the biggest challenge facing first time buyers – but those who fancy putting down roots in a Countryside home at Greenwich Millennium Village or Edge, Hainault can benefit from the developer’s 5% deposit contribution.
The scheme is designed to help buyers make their move to a beautiful new Countryside home with as little as a 5%
deposit of their own – with an additional 5% from the developer. This means, for example, that a deposit of as little as £13,750 is needed to secure a one bedroom apartment at Edge, Hainault – and it’s all yours from the start, with no worries about having to staircase and buy more shares. The deposit contribution also means that buyers can access a 90% mortgage, with more choice and lower rates than if a 95%
GREENWICH MILLENNIUM VILLAGE
A whole new community is being built at Greenwich Millennium Village, with superb travel connections right across London. Apartments here are just minutes away from all the entertainment at the O2, and from North Greenwich station for a two-minute trip to Canary Wharf. Eventually, 2,800 new homes will be built here, along with all the infrastructure to match – there’s already a new community centre, a nursery, hairdresser, spa and pharmacy on site, and homes are within walking distance of the Millennium Primary School, rated as Outstanding by Ofsted.
The latest launch of homes here is The Galleria, a collection of superb apartments, all enjoying a balcony or terrace, as well as an excellent interior specification including ceramic tile flooring in bathrooms, engineered timber in kitchens and living areas, and carpet in the bedrooms. The stylish kitchens have stone worktops and glass splashbacks, and come complete with a range of integrated appliances.
The Galleria is situated alongside the green expanse of the Southern Park, that continues towards one of the highlights of Greenwich Millennium Village – the four-acre ecology park. This wildlife-rich area is home to 85 different species of bird and 20 different types of butterfly, making the most of the lakes, marshes, meadows and woodland that make up this picture-perfect spot.
All the homes in The Galleria are ready to move into, with prices from £530,000.
For more information visit greenwichmillenniumvillage.co.uk
mortgage was required.
The 5% deposit contribution scheme is available on selected homes at two of Countryside Homes’ most popular developments – set in different parts of London, but both offering spacious homes with private outdoor space, well designed open-plan living areas and good-quality finishes, set in convenient, well-connected locations.
EDGE, HAINAULT
In the London Borough of Redbridge, Edge, Hainault offers an exciting collection of one bedroom apartments, all with a balcony or terrace as well as access to a beautiful courtyard garden. Homes here feature open-plan living spaces and a main bedroom with a fitted mirrored wardrobe. Flooring is included throughout, along with a good selection of integrated appliances in the contemporary fitted kitchen. Some of the larger homes also feature an en suite to the main bedroom and the option to buy a parking space.
Edge, Hainault is less than a mile away from Hainault and Grange Hill stations, which offer services to London Liverpool Street in half an hour via the Central Line. There are local shops nearby, including a Tesco Express and a Post Office, and a community day nursery, plus a variety of schools within walking distance. Edge, Hainault is also a stroll away from beautiful Fairlop Water Country Park which offers bouldering, a fishing lake and wide open spaces to enjoy, and Hainault Forest with its ancient trees, lake and cafe, ideal for weekend relaxation.
Homes currently available at Edge, Hainault start from £275,000 for a one bedroom apartment and are ready to move into.
For more information visit edge-hainault.co.uk
AFFORDABLE NORTH LONDON LIVING IN THE HEART OF TOTTENHAM HALE
Enjoying a well-connected Zone 3 location in the vibrant and welcoming neighbourhood of Tottenham Hale, Newlon Living offers a premium selection of homes in Millstream Tower
Superbly located among a hive of unprecedented redevelopment, you can take advantage of purchasing an affordable home in an area which is undergoing significant, large-scale regeneration, transforming it into one of the most soughtafter locations in north east London.
Tottenham Hale’s new centre, the Heart of Hale, is starting to take shape. This will have a main public square with shops for local retailers and businesses to grow into, public open spaces, coffee shops, a cinema, restaurants, a new health centre and more than 1,000 new homes.
It’s all part of the £500m masterplan to create an exciting hub of entertainment, retail, wellbeing, and housing options for local residents to enjoy. Along with the already established cafes, restaurants and a major retail park, you’ll have everything you need within walking distance.
Tottenham has experienced symbolic changes over the past few years, becoming known for its artistic hub and welcoming
artists, musicians, venue owners, brewers, and baristas, all mapping out its creative future and forming the perfect place for you to call home.
With the tranquil waterways of the River Lea and Walthamstow Wetlands just a short walk away, you can spend your free time relaxing and reconnecting with nature. Recharge your batteries by fishing, bird watching, cycling or by simply taking leisurely strolls along the many miles of pathways close by. Keeping fit is easy with
gyms within walking distance and if you fancy a challenge, why not drop into the local climbing centre to start a new hobby?
Newly upgraded Tottenham Hale station sits at the intersection of the Victoria underground and National Rail lines and will be part of the future Crossrail route. Living in Millstream Tower, you will have direct rail connections to Oxford Circus (16 minutes), Liverpool Street (14 minutes), King’s Cross (11 minutes) and London Stansted airport (31 minutes). There is also a major bus station just moments away, with a variety of routes to surrounding areas.
So, if you are looking for affordable London living in contemporary designed apartments, look no further than Millstream Tower from Newlon Living. Every apartment has been carefully designed to provide a light and airy open-plan living area that mixes 21st century style with the best of home comforts. You will find stylish fitted kitchens with integrated appliances, oak laminate flooring in the living areas and plush bathroom suites.
Prices in Millstream Tower start from just £87,500 for a 25% share of £350,000 for a one bedroom shared ownership apartment.
For more information about the range of homes and services available from Newlon Living go to newlonliving.co.uk
TAKE YOUR PICK ACROSS LONDON TO GET ON THE PROPERTY LADDER IN 2024
With so many beautiful areas in the capital, how are you supposed to choose the perfect spot to get on the property ladder? It can be a tough choice but we’ve highlighted our favorite homes across the city
So whether you’re a solid east London fan or prefer the natural beauty of north London, we’ve got you covered. Or perhaps you adore the (expensive!) charm of west London? There is a gem waiting for you there to perfectly suit your unique lifestyle.
1
OUR EAST LONDON PICK: EAST RIVER WHARF
Ultra-modern one, two and three bedroom apartments are available at East River Wharf with a nearby Sainsbury’s Local, Starbucks, tennis courts, independent shops, restaurants and a nail salon.
The apartments themselves are built for your lifestyle, including open-plan living areas that are full of natural light. With plenty of space to work from home and a private balcony creating outside space for every apartment, East River Wharf is the perfect place to call home.
There is also an abundance of outdoor spaces, including Lyle Park, Thames Barrier Park and countless landscaped gardens within a short walk. Plus, you can enjoy a range of exceptional amenities, including:
Don’t forget about the Sky Lounge, a 16th floor residents’ space where you can meet, collaborate or socialise while taking in amazing city skyline views that beautifully reflect in the River Thames. Sounds like an east London dream!
2
OUR
NORTH LONDON PICK: THE CHASE COLLECTION, TRENT PARK
The Chase Collection at Trent Park offers a beautiful selection of one and two bedroom apartments set amid a 56-acre estate, itself enclosed within over 400 acres of north London parkland – perfect for those looking for a peaceful retreat within London.
Yet still within walking distance of all this natural splendour are the boutiques, local shops, restaurants and cafes on Cockfosters high street. Not to mention an 18-hole golf course, an equestrian centre, and other first-class sports facilities. Only a little further are some outstanding nursery, primary, secondary and independent prep schools. What’s not to love?
3
OUR WEST LONDON PICK: THE ACER APARTMENTS, WHITE CITY LIVING
A vibrant community in the London Borough of Hammersmith & Fulham, featuring modern studio and one bedroom
apartments, your new home is set within eight acres of parks and gardens and surrounded by world-class retail, entertainment, education and culture. Located just moments from Westfield London, it is the perfect London oasis.
With the choice of two tube stations moments away from your new home, there are excellent transport links taking you into Bond Street in 12 minutes and Oxford Circus in just 14 minutes. Starting the journey to buying your own home among London’s most prestigious postcodes such as Notting Hill, Holland Park and Kensington is finally a reality.
Want some more good news? You may think it is a touch too early to be thinking about Christmas... but right now is the time to get moving so you can be in your new home for the festive season. Now that’s something to celebrate!
We know the importance of having somewhere safe to call home. Start by browsing the available shared ownership homes, in London and all over the country, offered by Legal & General Affordable Homes, landgah.com. Take the first step and speak with one of the friendly sales consultants to help you get moving sooner than you thought possible!
East River Wharf
Trent Park
Acer Apertments
TICKING ALL THE BOXES IN GREATER MANCHESTER
Hive Homes is creating a real buzz across Greater Manchester, with its selection of highquality homes at affordable prices
The multi-award winning Joint Venture organisation, funded by 10 Greater Manchester-based RPs (Great Places, Salix, Onward, Irwell Valley, Mosscare St Vincents, Bolton at Home, One Manchester, Southway, Wythenshawe and Trafford Housing Trust) together with the Greater Manchester Combined Authority (GMCA) is gaining a reputation for its attention to detail and excellent customer service.
And since the organisation was formed in 2018, it has worked tirelessly to create fantastic new homes across the Greater Manchester footprint.
Weaver’s Fold in Rochdale, for example, has breathed new life into a dilapidated site. The new 102-home development, with 85 three bedroom and 17 four bedroom homes, a mix of semi-detached and detached properties, is creating a new community on the site of a dilapidated car showroom that had laid dormant for eight years. The new development has been meticulously designed – both in terms of the quality of the homes but also in its layout that has been designed for future growth.
There is also a 5.6-acre parcel of land towards the southern end of the development which the local council can utilise for the creation of a new school, should it be required in the future.
As with any development, its location
is key, and Weaver’s Fold’s hidden secret is where it is.
It’s situated in Castleton, just outside Rochdale town centre, which is close to some beautiful green spaces but with excellent links to Manchester city centre and everything that it offers.
And across to the Bury Metropolitan region, Hive has started on-site to build 171
new homes across two new developments. At Roedeer Gardens in Bury, Hive Homes will build 81 three and four bed new homes with a selection of properties under the First Homes scheme by Bury Council, which prioritises first time buyers with a combined annual income of less than £80,000 per year.
Alongside the new homes, the local council will provide new changing and welfare facilities for Seedfield Juniors FC funded by Hive’s Section 106 contribution and will also create a new car park for the club which has its pitches adjacent to the site.
Hive Homes will also build 90 three and four bedroom homes, a mix of mews, semi-detached and detached, at Scholars Park in Radcliffe, the former home of the demolished grammar school, including some First Homes and affordable homes.
There are a number of new developments coming on stream in the New Year as Hive Homes looks to expand its reach and help people either take their first step on the property ladder or rightsizing into a perfect forever home.
So for more details on Hive’s ever-growing portfolio of developments, visit hive-homes.co.uk and make contact via the web form or call 0161 484 3229
Parkside, in Garston, Watford, is a new shared ownership development of 127 apartments that are already selling fast thanks to both their quality and the fabulous location right next to Garston Park with its 16 acres of green open space.
There is a wide range of different apartments on offer to suit every need, including compact one bedroom homes, two bedroom properties with an en suite to the main bedroom, spacious three bedroom apartments perfect for families, and an exciting range of duplex homes on the ground and first floor. Homes are in seven blocks, the highest being five storeys tall, set around two beautifully landscaped courtyard gardens where residents can sit back and relax, or even grow their own food in the vegetable patches.
Each apartment offers a high-quality finish, with attractive flooring throughout, including comfortable carpeting in bedrooms. The stylish kitchens will make entertaining a pleasure – they come equipped with contemporary, pale handleless kitchen units for a sleek, minimal look and include an integrated fridge-freezer and washer-dryer in addition to the kitchen essentials. Best of all, every home has its own private outdoor space, in the form of either a balcony or a terrace, offering the perfect place to unwind at the end of the day.
Parkside has been built with energy efficiency in mind, and all the new homes have an EPC-B rating, meaning they will be economical to run. Customisable
ALL THRIVE AT PARKSIDE!
A new development of shared ownership homes in Hertfordshire offers stylish, comfortable living right next to a country park
heating controls come as standard, and there are EV charging stations on site, a communal car club, and secure cycle storage. While there are 87 parking spaces at Parkside, car-free living is easy as the development is ideally located just a 10-minute walk from Garston station, which offers rail services to Oxford Circus in 23 minutes and London Euston in 29 minutes. Alternatively, Watford underground station has Metropolitan Line services to King’s Cross in 49 minutes. Local buses run from St Albans Road to Luton, Harlow, Stevenage, Heathrow airport and St Albans among other routes.
Parents will be particularly attracted to Parkside as there is a fantastic selection of local schools close to hand – the two nearest primaries, both a short walk away, are Coates Way School and St Catherine of Siena Catholic Primary School, both rated as Good by Ofsted, and there are two Outstanding secondary schools within walking distance.
There’s direct pedestrian access from Parkside straight into Garston Park, which has activities for kids of all ages, from a children’s playground with accessible equipment to an outdoor gym, a skate park, table tennis tables and a football pitch. For those who prefer relaxing to running around, half of the space is given over
to wildlife, with a stream and peaceful woodland area.
In fact, Watford has plenty of green spaces to enjoy; there are 17 parks and open areas nearby, and Watford has more Green Flag awards than any other district in Hertfordshire. For example, Leavesden Country Park is also within easy walking distance and features a heritage trail, beautiful specimen trees, the brand new Woodlands Café, an exciting play area, cycle hub, inclusive sensory garden and new outdoor sports facilities.
Around a third of the homes at Parkside have already been reserved, and with properties now available to move into straight away, why not make an appointment to come and visit the show home, open Thursday to Monday, 10am to 5pm? Call Thrive on 07514 894 582 or email parkside@thrivehomes.org.uk to book a convenient tour of everything that this superb development has to offer.
Shared ownership apartments currently available at Parkside start from £124,000 for a 40% share on a full market value of £310,000. T&Cs apply.
Thrive owns and manages more than 5,500 homes throughout Hertfordshire, Bedfordshire Buckinghamshire and Oxfordshire. For more information visit parksidewatford.co.uk
COUNTRY LIVING RE-IMAGINED AT SUNNINGDALE PARK
As one of the most popular locations to live in Berkshire, Ascot offers the best of country and city living, with excellent amenities and transport links to nearby towns, alongside beautiful scenic countryside. However, it is also one of the most expensive areas to live in the UK, with some of the highest rents outside of London¹ and the average apartment selling for £503,611²
Abri Homes’ latest development, Sunningdale Park, set in the highly desirable village of Sunningdale, offers the best of Ascot and Windsor living, at a price that may surprise people.
With 42 one and two bedroom apartments on offer, residents can live in a re-imagined country estate dating back to the 19th century, with 47 acres of historic Grade II listed parkland on their doorstep. Selected apartments also come with a balcony or patio, providing even more space to enjoy the great outdoors, relax after work and entertain guests.
Available with shared ownership, a one bedroom apartment at Sunningdale Park requires just a 5% deposit of £5,312 to purchase a 25% share, with a full market value of £425,000. A buyer could expect monthly payments of £1,454 for this home*, including mortgage payment, £730 rent, and an estimated £151 service charge per month. A former country estate, Sunningdale Park is the ideal place to unwind, with woodland trails perfect for walking and running, an abundance of wildlife, and
spectacular views. Residents will benefit from high-specification and modern apartments, with kitchens fitted with a built-in fridge-freezer, dishwasher, single fan oven, hob, and cooker hood as well as a glass splashback above the hob.
The development offers unparalleled green spaces while also being perfectly located for nearby amenities. For example, Windsor Great Park and Windsor Castle are just around the corner, meaning residents can easily enjoy over 4,800 acres of the great outdoors as well as thousands of years of history.
Meanwhile, the surrounding area offers a wide range of exclusive locations and historical landmarks, with Ascot Racecourse, Sunningdale Golf Club and Royal Ascot Cricket Club all within a 10-minute car journey.
For commuters, direct links from Ascot railway station reach London Waterloo in under an hour and the M3 can be reached in just 11 minutes. With Heathrow airport only 20 minutes away, the homes are perfectly located for last minute getaways.
Abri has now launched its new show home at Sunningdale Park, giving aspiring buyers the opportunity to see what life is like at this former country estate. Designed by Andrew Henry Interiors, the show home perfectly reflects its surroundings. The sleek and contemporary design has been inspired by the great outdoors and complements the location, bringing the outdoors in.
Prices at Sunningdale Park start from £106,250 based on a 25% share, requiring a £5,312 minimum deposit.
Contact Abri Homes on 0800 145 6663 or email sosales@abri.co.uk to find out more and to book a show home viewing
*Includes monthly rent, mortgage payment and service charge. Affordability and eligibility criteria apply. Visit abrihomes.co.uk/terms for more. Speak to a member of our sales team for more information
1 Research by RightMove, Britain’s most expensive streets revealed
2 Zoopla average house prices in the past 12 months, as of July 2024
GET ON THE PROPERTY LADDER WITH SHARED OWNERSHIP
Feeling like you’ve been priced out of the housing market? It might be time to consider shared ownership – the affordable route to homeownership
Getting on to the property ladder has become increasingly challenging, with a perfect storm of soaring house prices and high mortgage rates forcing four in 10 buyers (41%) to push back their home buying dream by an average of four years¹. Consequently, many buyers have turned to the private rental market, but with the popularity of London continuing to grow, and the number of private rental homes falling, residents are facing fierce competition to secure a home.
However, even amid the current difficult economic and housing climate, shared ownership remains an affordable route to homeownership for those who have otherwise been priced out of the housing market.
WHY RENT WHEN YOU COULD BUY
One of the biggest misconceptions around shared ownership is that it’s more expensive than renting privately. While both living options have their advantages, monthly payments are generally cheaper through shared ownership (including mortgage, rent and service charge) than if you were to rent privately.
STABILITY AND SECURITY
Contract renewals. Properties being sold mid-tenancy. Sometimes it can feel like you’re at the whim of the landlord. That’s not the case with shared ownership, where you own your share of your home for as long as you desire. As a result, you can expect greater control of your living situation, giving you the freedom to style and invest in your home without the fear of being asked to move.
INVESTMENT FOR THE FUTURE
When you purchase a share of a home through shared ownership, you’re building up equity in a saleable asset each month, providing long-term financial security. You’ll also have the freedom to increase your share as and when your finances
allow through a process called staircasing. By increasing your share, you reduce the amount of rent you pay, and over time you can work towards full ownership of your home. What’s more, the value of your share could increase if the value of the property increases, meaning you’ll have more profit to invest should you decide to sell.
OUR LOCATIONS
SNG has developments across the south of England, from Devon to Essex and plenty in between, including London, so whether you’re looking for city centre living, the balance of the suburbs, or the slower pace of the countryside is calling, we have something for everyone.
EDGWARE PARADE, BARNET
Located in the vibrant town of Edgware, these newly launched one, two and three bedroom apartments each boast a private outdoor space, as well as a fantastic selection of eating, shopping and leisure opportunities on their doorstep.
Edgware tube station is only a short walk away, providing regular services to Camden Town and London Waterloo via the Northern Line, giving you great access to everything London has to offer.
Additionally, the London Borough of Barnet is currently undergoing a large regeneration programme, ensuring Edgware will be a long-term, highly sought-after postcode to call home.
KNIGHTS QUARTER, WINCHESTER
A collection of one bedroom apartments located 10 minutes’ walk from Winchester’s historic city centre. Spend your weekends browsing independent boutique stores and high street favourites, or explore the vibrant local bar and restaurant scene, all just an hour’s train ride from London Waterloo.
Plus, take advantage of our new Deposit Match scheme, only available at Knights Quarter. Simply put down your deposit (minimum of 5% of your share value) and SNG will match it, allowing you to significantly increase your deposit without the need to save for longer*!
To learn more about how SNG can help you unlock your home buying potential visit sng.org.uk
Abigail Tan is CEO of the St Giles Hotels Group in the UK, Europe and North America but she is not your average hotelier, as her energy, passion and adventurous nature are what drives her, and she believes that hospitality has to be a way of life and not simply a job. As she puts it, “I have a passion for people, and creating happy teams.” In her spare time, you might find her flying helicopters, riding a motorbike and having a boxing lesson at 6am. Lynda Clark chats to her about how it began, her plans for the future and her charity work
It is the second day back in the office after her maternity leave when I chat to Abigail, and during her time away they moved offices, so she is still finding her way around the new surroundings. Immediately I can feel the vibrancy and passion for everything she does, yet she is still very grounded and seriously has great enthusiasm for everything.
Abigail was born and brought up in Penang, Malaysia, and said, “I was in the business before I really knew it. My family owned hotels and one weekend a month when I was under 10 years of age, we would go to the beach and stay in one of my favourite hotels called Rasa Sayang, aptly meaning the feeling of love in Malay. I have a vivid recollection of being so excited as soon as I walked in, I would take a deep breath and exclaim ‘Hotel….’! I was fascinated about how everything worked there and wasn’t bothered about going to the beach but would wander around the
hotel, talking to the reception staff, going into the back of house and asking what games they had to play with and best of all, finding the housekeeper’s trolley to see what I could take. Even now I take a peek at the trolley to see if there is anything interesting there! My parents would tell the story many times of how the only way to get me to leave the hotel was to say we were going to another hotel. I’ve also always been fascinated by how hotels are built and the whole construction process has always interested me. I found it amazing how it starts from nothing and ends up as a fabulous new hotel.
“I eventually went to the University of Exeter to study business, but during the holidays I was an apprentice for the St Giles Hotel Group and shadowed the COO at the time. I was very keen to learn, and he invited me to go along to board meetings, even sit at his desk and try out my ideas and generally see how the whole operation
worked. It was a very good opportunity for me as I worked across all the projects, and it encouraged me to focus on learning who I was as a leader and what role I wanted to take in the company. He was a brilliant mentor and even used to drive me back to Exeter, which takes quite a long time, and we talked about hotels all the way. Sadly, he had a very bad stroke and so I took over his role while he recovered and came back.
“I was passionate about studying and when I finished, I naturally joined the St Giles team as Director of Corporate Affairs and Strategic Investments. I was involved with the purchase of two New York properties and assisting with negotiations and transition preparations. I became CEO in 2018 and I was travelling to New York every two to three weeks. It was hard work but I was in my 20s and it was exciting to build a new team from scratch, learn new cultures and meet new people,”
Abigail oversees the London hotels,
St Giles Heathrow and St Giles London and in 2025 will also be taking on the St Giles Makati in the Philippines, along with asset managing other of the group’s portfolio properties. She is responsible for sourcing new acquisitions and management opportunities and is the driving force behind the development of the St Giles’ brand and culture.
With so much responsibility, Abigail seems to have succeeded in getting a good work-life balance, which is very important to her. “My day starts very early, and I have a boxing lesson at around 6am – I did this all through my pregnancy too! I then get to the office and sort out emails and admin and try not to have any meetings before 11am. No day is really the same and we are relaunching our brand later this year so that has involved a lot of work and we have just moved offices as well. I am always trying to improve the hotels, and I am a great believer in working as a team and being very fluid and not sticking to a rigid system. I try and leave the office around 6pm as I think it is vital that everyone rests and enjoys some downtime. Things are probably going to be different now I have the baby, but I am sure everything will find its own rhythm.”
So, when she is not running the hotels, Abigail loves to be adventurous. She commented, “I was obsessed with Top Gun when I was younger and wanted to fly a jet, but I was advised to fly helicopters instead. I flew every week either in London or New York but my instructor died in a helicopter accident and it was a wake-up call and I stopped. I love going fast and ride a motorcycle and I also enjoy Pilates.”
Her charity is her initiative and was born out of a desire for St Giles Hotels to not just be a portfolio of hotels in cities but a collection of people, faces and lives having a positive impact on communities. The charity, Hotels with a Heart, lies at the core of the brand and Abigail is passionate about it. “We identified a gap that fused what resources in hospitality we could offer and the need within the community that had not been addressed fully. Through our internal fundraising efforts, that all the staff personally get involved in, and through participating and organising events, we have launched the St Giles Hospitality Academy with Saira Hospitality.
“Through this Academy, 20 rough sleepers
and those facing complex life challenges undertake a four-week training course covering a number of hospitality focused life skills like communications, leadership and even how to be sensible with money and how to save. After the course they were all interviewed, and we offered some of them jobs and the others went on to work at other hotels. It was so rewarding, and we even housed some of them in the hotel. It has made a huge impact on their lives and also on the lives of my team. I am so proud to be playing a part in helping people get back into meaningful work and making a positive impact on society. We are now opening our second Academy, and I am asking other hotels to participate. The basic message to them is – we train, you hire. We are hoping to expand this to Asia and Europe as well and the goal would be to build enough of a case study to obtain Government backing and funding to prove that we would not only save them money but also be part of a solution to get those who need it most back into work, private living, and their livelihoods back.”
As CEO of a large group of hotels and being an Asian woman has this been a
“I BECAME CEO IN IN 2018 AND I WAS TRAVELLING TO NEW YORK EVERY TWO TO THREE WEEKS. IT WAS HARD WORK BUT I WAS IN MY 20S”
problem, I wondered? She said, “I think I have made a positive change as 70% of the executive board and most of the heads of departments are women. Quite often now, I am still the only woman in high level meetings, but this does not faze me. I like to take the position of listening and learning first, and then speaking when necessary – which sometimes is also just showing I have a voice and opinion that matters. We are in the process of opening a creche for staff, as it will enable parents to come back to work sooner from maternity/paternity and help team members who are struggling with daycare and prefer not to take a day off work to be more productive knowing their children are nearby. It is comforting to know your children are being looked after well.”
At this point I notice a photo of a very large and very beautiful dog on the side of her desk. “That’s Elmo – he’s a Bernese mountain dog mixed with a poodle and is my fur baby! He comes to the office sometimes and is very popular – in fact we have used him for some of our branding and we are creating a mascot of Elmo, which we will give to the children who come to the hotel.”
Abigail is quite inspirational and as we finish, I feel very touched that she gave up so much time to talk to me – she is certainly a CEO with a huge heart and surely that has to make her one in a million.
We do like to be beside the seaside. Especially this one! Whether you crave the bright lights of Brighton or hanker for the haven that is Hove, you will soon find the perfect home in East Sussex’s twin towns
UNDER THE SPOTLIGHT
5 REASONS WE LOVE… BRIGHTON & HOVE
The motto on Brighton and Hove’s coat of arms "inter undas et colles oremus", which translates to "between downs and sea we ourish", sums up succinctly this ne city’s enviable location. Positioned between the South Downs and the English Channel, and just 50 miles from London, this relatively new city (granted city status by Queen Elizabeth II as part of the country’s millennium celebrations) is the largest in South East England.
The arrival of the London and Brighton Railway in 1841 rst put Brighton on the map, and between 1801 and 1901 the population rocketed from just 7,000 to over 120,000. The Victorian era brought a sense of grandeur, with attractions built including the Grand Hotel, the West Pier and the Palace Pier. As Brighton boomed, so did its neighbour Hove, with the development of the grand Regency Brunswick estate. Despite its growing population, the town gained a reputation as a retirement destination, but it enjoyed a 1990s renaissance and its popularity hasn’t waned since. Today, Brighton is famous for its vibrant arts scene, quirky shops and fabulous beaches. It is also known as the UK’s unof cial “gay capital”.
Brighton has excellent rail links; frequent trains operate from Brighton railway station to London Victoria, London Bridge and St Pancras, offering access to London in under an hour. Hove has three railway stations and a London commute of just over an hour.
1 The full seaside experience!
2 The awesome range of shops and restaurants
3 Excellent transport links
4 The South Downs on the doorstep
5 Brighton Pride
OUT AND ABOUT
The city centre is easy to get around on foot, cyclists are well catered for, bus services are plentiful and Brighton is well-connected by road. Much of the city’s parking is for residents. Brighton and Hove has a large proportion of adults aged 20-44, with fewer children and older residents. This demographic is increasingly young professionals, and the area attracts more young people than anywhere else in the country. Many commute, but it is regarded as one of the best places in the UK to start a business, with a new business survival rate of an incredible 87%.
Families lean towards Hove Park, but just 10-minutes from the centre and with some of the best primary schools, these homes come at a premium. Hanover, still less than a mile from Brighton station, is more affordable, and has some excellent primary schools. Preston Park, a mile from the centre, is popular with commuters. Kemp Town, right on the beach, is popular with students so has a more mixed demographic overall.
Property prices are high, particularly in the centre, but there's a huge range of property available, and plenty of Government and housebuilder schemes to assist rst time buyers.
The star attraction of Brighton and Hove is the beach – all 13km of it! The main focal point is the Palace Pier with a funfair, arcade halls and delicious doughnuts. Further along the beach, the British Airways i360 observation tower is at the shore end of the West Pier. At 162m high, and with an observation pod rising to 138m, it is Britain’s highest observation tower outside London. Locals head to the quieter beaches, such as Hove, Saltdean and Rottingdean.
Brighton is famous for its shopping, including tons of independent shops which add to the city’s charm. The North Laine area alone boasts over 400 shops. Further south, The Lanes are characterised by a maze of narrow alleyways consisting mainly of independent clothing stores, jewellers, antique shops, restaurants and pubs. High street shoppers will find everything they need in Churchill Square, with over 80 shops. There are two weekly flea markets. Meanwhile, Hove remains the city’s best kept shopping
students so has a more mixed secret and is generally preferred by the locals who enjoy the same high standard of local products and service, without the hustle and bustle associated with the Lanes.
Average property price in Brighton and Hove (June 2024) – £424,988
Property breakdown*
Detached – £792,472
Semi-detached – £522,764
Terraced – £473,734
Flat – £334,988
*According to the Land Registry House Price Index
FAMOUS RESIDENTS
• DJ Norman Cook
• Actor and comedian Steve Coogan
• Singer James Morrison
• Actor and author David Walliams
• YouTube stars Al e Deyes and Zoella
Fish and chips are synonymous with a trip to Brighton but locals will testify that they are just the tip of the iceberg of the city’s food scene. The city is awash with small dining establishments, including one of the highest densities of plant-based restaurants in the country. Brunch and Sunday lunch are also both a big deal here!
When the sun sets there are countless pubs and bars to explore, each with their own character. The city centre can attract rowdy groups at weekends so consider Hove for nightlife with the same edgy vibe as Brighton but with a little more class.
There is so much to do in the city, whatever your tastes. Brighton hosts many festivals, including the Brighton Festival and Brighton Fringe annually, in addition to the world-famous Brighton Pride, which attracts a staggering 450,000 visitors to the city over the August weekend. The historic Royal Pavilion is open to the public and there are plenty of museums, galleries, theatres and cinemas to visit too.
If you’re up for an adventure, walk the South Downs Way, taking in the white cliffs at Seven Sisters, or visit Devil’s Dyke. If you enjoy watersports, Hove Lagoon is home to wakeboarding, paddleboarding, windsurfing, SUP yoga, kayaking and sailing, and caters for kids and adults of all levels. Sussex County Cricket Club is also based in Hove. The southern coast of England has a mild and sunny microclimate compared to the rest of Great Britain, so there are ample opportunities to enjoy the great outdoors.
HOMES ON THE MARKET...
GRAND AVENUE
Hove
shnewhomes.co.uk/grandavenue
HOME X Brighton
(OPEN£540,000 MARKET
Grand Avenue offers a collection of 72 apartments in Hove, available through shared ownership and open market sale. The energy-ef cient homes come with Bosch and Hoover integrated appliances in the kitchen, a balcony or terrace, zoned under oor heating and video entry system. Located just metres from the beach, with several apartments enjoying spectacular views towards Hove Lawns or the seafront, homes bene t from local amenities, entertainment, and excellent nearby transport links to London Victoria, London Bridge, Brighton and Gatwick airport. There is a unique mixture of open space just minutes away from Grand Avenue, so whether you go by bike or on foot you can breathe the fresh sea air, explore tranquil woodland, or roam the open countryside.
FROM (SHARED£80,000*OWNERSHIP) (OPEN£225,000 MARKET SALE)
Home X is a collection of 318 apartments in Moulsecoomb across both open market sale and shared ownership. With a contemporary speci cation these open-plan homes come with Siemens and Bosch integrated appliances in the kitchen, full height windows, under oor heating, communal gardens, exible work and collaboration spaces on-site and at nearby Plus X, a supermarket and pharmacy. Home X is conveniently connected with plenty of transport links by bus, train, bike or foot, making travelling around Brighton easy.
shnewhomes.co.uk/homex
WHARF TWENTY ONE Shoreham-by-Sea
shnewhomes.co.uk/wharf21
Experience modern living crafted with a contemporary touch. These one and two bedroom shared ownership apartments offer style and private outdoor space. Through a remarkable regeneration initiative, Shoreham is undergoing an exciting transformation and signi cant investment is being made into the local community and economy. A sprawling 3.5 acres will be rejuvenated, breathing life into the landscaped public areas and giving residents access to the picturesque riverfront. The harbour is also poised for revival and will include charming cafes and restaurants. The open-plan apartments come with a private balcony or terrace, zoned under oor heating and integrated appliances in the kitchen. It is less than a 10-minute walk to Shoreham-bySea station offering good transport links.
And the Winn is...
THE FIRST TIME BUYER READERS’ AWARDS 2024
The FTB Readers’ Awards 2024, held at the London Marriott Hotel Grosvenor Square, London, were a glittering success, with so many colleagues from the housing industry there to celebrate together. The Awards are the highlight in our busy calendar and it’s wonderful to see so many inspirational homes being built for first time buyers. This year, competition was fierce and the standard was extremely high.
Our host, TV and radio presenter Nicki Chapman, welcomed the highly commended and winners from each category on to the stage to present them with their award. We were delighted that Jonnie Irwin’s wife, Jess, was able to join us and help present the Jonnie Irwin Legacy Award –
there was not a dry eye in the room! Our charity this year was Lighthouse Construction Industry Charity and we were delighted to have raised some money for this worthy cause. We had some amazing prizes this year, so a big thank you to everyone who donated.
On the following pages, we showcase the day, so you can see who won and who was highly commended. Most importantly, we would like to thank all our readers who took time to cast their all-important votes.
Congratulations to you all and we very much look forward to seeing you at the FTB Readers’ Awards next year.
Best Sma/Medium Dev opment
This award was presented by Bevin Woby, Director, Shared Direction Conveyancing.
This award was presented by Teleri Williams, Managing Director, The Media People.
And the Winn is...
This award was presented by Wendy Hegarty, Partner, Redloft.
award was presented by Jade Turnstill, Head of Brand and Content, Share to Buy.
This award was presented by Linda Storey, Partner and Head of Housing, Penningtons Manches Cooper.
presented by Harriet Stevens, Account Director, Faust PR.
And the Winn is...
This award was presented by Shaun Peart, Managing Director, LSL Land & New Homes.
This award was presented by John Dean, Director, Buchanan Dean Design.
PLUMLIFE HOMES | MULINO WALK
This award was presented by Ross Smith, Director, SiteSales.
This award was presented by Harrison Smith, Founder and MD, Tidywork Studio.
And the Winn is...
This award was presented by Jon Lord, Managing Director, Metro Finance.
award was presented by Dean Cuss and Kelly Loughnane, Directors, Core Media Services.
Affordable Housing Prov of the Year
METROPOLITAN THAMES VALLEY HOUSING
This award was presented by Amy Loomes, Senior Associate, Sharratts.
This award was presented by Craig Osborne, Director of Housing and Build to Rent, Investa.
Jonnie Irwin Legacy Award
This award was presented by Chris Jones, CEO, Space & Time and Jess Irwin.
This award was presented by Lynda Clark, CEO & Editor, First Time Buyer magazine. SPONSORED
GEETA NANDA OBE
FOR SALE
THE CREAM OF THE CROP
Each month, FTB scours the market for the best starter homes for rst time buyers. So, whether you’re searching for the ideal home for you, for your new family, or for your rst home at affordable prices, we hope you will enjoy our selection
BRENT CROSS, NORTH LONDON
HOVE, EAST SUSSEX
AFFORDABLE HOMES
L&Q at Brent
Cross Town
The leafy London borough of Barnet is home to this new collection of properties, which sits within what is set to become one of the largest regeneration projects in Europe. There will eventually be close to 7,000 new homes here, along with open spaces, children’s play areas, shops and health facilities, and great links into central London. These new one, two and three bedroom apartments have been designed with modern life in mind –the larger properties are arranged over two oors, with open-plan living areas opening to private gardens, two bathrooms and plenty of storage space.
L&Q 020 8617 1747 lqhomes.com
ILFORD, EAST LONDON
One Goodmayes
Ilford in east London is the home for this collection of studio, one and two bedroom apartments, perfect for those looking for speedy connections to the City. The new homes are well located, with a good range of amenities, restaurants, green spaces, gyms and tube stations within a few minutes’ walk. Nearby Elizabeth
EBBSFLEET, KENT
Line trains reach Liverpool Street in around 20 minutes. Inside, the contemporary properties feature open-plan living spaces, large windows for maximum light and fantastic views over the area.
Fairview New Homes 020 8023 7092 fairview.co.uk
With some of the capital’s most iconic sights within view – including Canary Wharf, the O2 and Thames Barrier Park – these new homes are in an ideal position to enjoy the best of London life. Ranging from one to three bedroom apartments to two to four bedroom duplexes, residents enjoy private balconies
Ashmere
With speedy travel into London and beautiful green surroundings, the homes at Ashmere offer the best of both worlds, with one and two bedroom apartments available through shared ownership. Located 1.5 miles from Ebbs eet International station, trains to London St Pancras take as little
as 17 minutes. Meanwhile, green spaces, walking and cycling routes are on the doorstep. Bluewater shopping centre and endless options for eating out and entertainment, good schools and outdoor pursuits are a short drive.
Latimer Homes 01987 678 144 latimerhomes.com
or terraces and access to a communal, ninth- oor roof garden. It's a six-minute walk to Pontoon Dock DLR station, for services to Canary Wharf in 12 minutes and Bank in 20 minutes.
Fairview New Homes 020 8023 7092 fairview.co.uk
The name of this new collection of homes in Cambridge honours one of the city’s most famous former residents, Charles Darwin. And with the city centre around a ve-minute drive (and within walking distance) a plethora of interesting, historic and cultural delights lies well within easy reach. The one, two, three and four bedroom apartments and
houses here are ideal for a range of buyers, who can enjoy the on-site facilities, which will include a 15-acre central park, schools, shops and health centre. Commuting? From Cambridge, trains reach London King's Cross in under 60 minutes.
L&Q 0333 999 8387 lqhomes.com FROM £250,000 FROM £24,500* FROM £350,000 FROM £90,625* *Based
ROYAL DOCKS, EAST LONDON
CAMBRIDGE, CAMBRIDGESHIRE
The Silverton
L&Q at Darwin Green
FAMILY HOMES
Lyon Quarter
This landmark development in the popular seaside town of Hove will see 154 new apartments created, ranging from studio to three bedrooms. The homes are arranged across four buildings, with stunning podium gardens a big draw for residents. Hove’s beaches lie around a 15-minute walk away, while the many cafes and entertainment venues of Brighton and Hove are all within an equally easy walk, cycle or bus ride –along with great schools, colleges and universities. The properties are bright and modern, with plenty of storage space, cycle storage and cost-reducing energy ef ciency features. Residents can enjoy the fresh sea air, while London remains under an hour away by train.
Guinness Homes 01273 920 450 lyonquarter.co.uk
STRATFORD-UPON-AVON, WARWICKSHIRE
This new collection of two and three bedroom properties sits in the heart of the Warwickshire countryside, with access to everyday facilities, including a school, in the pretty village of Long Marston, and historic Stratford-upon-Avon a 10-minute drive. There’s a great deal on offer in the local area, including the
NEWARK, NOTTINGHAMSHIRE
stunning sights of the Cotswolds, while the properties themselves are created to a high standard, with bright, contemporary living spaces, sleek, modern kitchens and quality energy ef cient features throughout.
Bromford Homes 0800 085 2499 bromfordhomes.co.uk
*Based on a 40% share of the full market value of £255,000
KETTERING, NORTHAMPTONSHIRE
Forming part of the wider Hanwood Park development, these three and four bedroom houses mark the nal stage of this project, which includes parks, shops, schools, cycleways and sports facilities. The three bedroom semi-detached homes feature living areas with French doors to a private garden, and
FROM £102,000 FROM £272,995 FROM £259,500 FROM £249,995
an en suite to the main bedroom. This is a peaceful location but Kettering is under 10 minutes by car. Bedford and Milton Keynes are a 30-minute drive, while London St Pancras can be reached by train in under an hour.
David Wilson Homes 0330 828 7375 dwh.co.uk
Located just outside the market town of Newark-on-Trent, in Fernwood, these new homes are proving popular with local families. The three, four and ve bedroom houses have been created in a range of styles and enjoy communal outdoor spaces as well as being within easy reach of the town’s pubs and eateries
and pretty woodland. The three bedroom semi-detached houses feature separate living and dining rooms downstairs, a cloakroom, as well as en suite from the main bedroom upstairs. Nottingham is a 30-minute drive.
Allison Homes 01636 233 225 allison-homes.co.uk
TYLDESELY, GREATER MANCHESTER
The historic town of Tyldesley, at the foot of the West Pennine Hills, is home to these two, three and four bedroom family houses. Residents enjoy a bestof-both-worlds setting – beautiful Pennington Flash Country Park lies moments away, for nature trails and scenic views, while both Wigan and Manchester
are a 30-minute drive for busy cosmopolitan life. The three bedroom terraced houses feature open-plan living spaces with bi-fold doors to a private garden. Houses are available in a range of styles in keeping with the area.
Elan Homes 0845 528 0834 elan-homes.co.uk
Meon Vale
Kings Meadow
Bertone Gardens
Garrett Hall Fields
KEEP YOUR VALUABLES SAFE WITH BURGWÄCHTER’S NEW SECURITY KITS
WIN! GARAGEABURG-WÄCHTER SECURITYKITWORTH£70
Getting the keys to your first home is a fantastic feeling! A special place that you’ve worked hard for and can finally call your own. And, with all that investment in time, money and emotion, you will want to make sure that your new pad – and everything inside it – is as safe and secure as it can be, especially as the winter months are fast approaching and the nights are beginning to draw in. Burglary rates tend to rise at this time of year as thieves hunt for easy targets under cover of the darker evenings
Kitted out for security!
To help combat this, leading home security specialist Burg-Wächter has launched a range of easy-to-use security kits – including patio, BBQ, shed and garage kits – with everything you need to secure a host of valuable items all coming in one superconvenient box.
And, even better, we are giving you the opportunity to win one of ve fantastic Burg-Wächter Garage Security Kits, as part of its annual Locktoberfest security awareness campaign!
Invest in security
With research showing that one in four garages (or similar space) owners have had items stolen, upgrading your security in this area is always a good idea. Aside from cars, garages can store bikes, lawnmowers and garden furniture that may prove too tempting for an opportunist thief. And while the garage door provides some protection, it does not offer the comprehensive security that can be achieved by locking valuable items together with a lock and chain to a sturdy anchor point. With this sort of protection, even if they make it inside, it is going to take a lot more time and effort to remove your belongings.
Police approved security
ideal point to thread chain or security cables through. Whether xed to the wall or ground, anti-tamper xings ensure that, once installed, this anchor isn’t moving!
• Extra-long heavy-duty Sold Secure approved chain
With hardened 10mm diameter chain links that resist cutting and cropping, this chain allows multiple items to be secured together thanks to the extra reach afforded by its unusually long 3m length – making it both secure and convenient.
• Sold Secure approved U-lock
The products in the Burg-Wächter’s Garage Security Kit are independently tested by Sold Secure, part of the Master Locksmiths Association in the UK, and additionally approved by Secured by Design, the of cial police initiative that works to improve security through good product design. These are important accreditations that prove products are tested to offer a real level of security.
What’s in the kit?
The Burg-Wächter Garage Security Kit is a comprehensive four-piece kit that provides everything you need for complete peace of mind:
• Sold Secure tested and approved Wall and Ground Anchor
This extra-strong solid plate steel anchor makes the
This sturdy, police-approved U-lock features a hardened steel shackle and body meaning that trying to cut through it is going to be hard work for a would-be thief. In addition, the shackle is completely removable from the body of the lock, allowing it to be easily threaded through the chain to lock the ends together.
• Battery operated PIR alarm
The nal piece of equipment included in the Garage Security Kit is a PIR alarm. Easily activated using one of two supplied infrared remotes, as soon as motion is detected, a 100dB alarm sounds to alert you or your neighbours of an unwanted intruder.
For more information on Burg-Wächter’s new range of Security Kits or any of its home security products, visit burg.biz/uk or call 01274 395 333
HOW TO ENTER
Answer the following question:
What is the name of the of cial police initiative that helps improve security through good product design?
a) Secured by Design
b) Protected by Design
c) Assured by Design
Send your answer with your full name, address and telephone number to: lynda@ rsttimebuyermag. co.uk
Closing date: 28 October 2024
THE PRIZE… FIVE WINNERS WILL EACH RECEIVE A BURG-WÄCHTER GARAGE SECURITY KIT WORTH £70
T&Cs
• The prize is non-transferable, and no cash alternatives will be given.
• Competition is open to UK mainland entrants only.
FIRST HOME, FIRST MEAL
A mouthwatering recipe created by Manoj Prasad, Head of Food Development at Heartwood Collection, which includes Brasserie Blanc and Heartwood Inns
METHOD
INGREDIENTS (serves 6)
40g butter, plus extra for greasing
290ml whole milk
¼ onion
1 sprig fresh thyme
3 cloves
1 bay leaf
Pinch freshly grated nutmeg
40g plain our
Pinch cayenne pepper
120g Ford Farm Coastal Cheddar (or other extra mature cheddar of your choice), plus extra to sprinkle
4 medium eggs, separated
200ml double cream
YOU WILL ALSO NEED
6 x 175ml ramekins
1 Brush the ramekins liberally with melted butter. Preheat the oven to 180°C/fan 160°C/gas mark 4 and put a kettle of water on to boil. Heat the milk, onion, thyme, cloves, bay leaf and nutmeg until steaming. Pass through a sieve.
2 Melt the butter in another pan, then stir in the our and cayenne pepper to make a roux. Cook for 3-4 minutes, stirring, until the mix smells biscuity.
3 Remove the pan from the heat and add the strained milk to the roux a little at a time, stirring constantly. Return to the heat and cook for another 4-5 minutes until the sauce is thick.
4 Remove the pan from the heat again and stir in the grated cheese until fully incorporated into the sauce. Leave to cool slightly.
5 Add the egg yolk and beat well. Season. Leave to cool to room temperature.
6 In a clean, dry mixing bowl whisk the egg whites to medium peaks with a balloon whisk or electric hand mixer. Use a large metal spoon to fold the egg whites into the cheese mixture: start by folding in one spoonful and then fold the rest in a third at a time. Spoon into the ramekins, lling them two-thirds of the way up.
7 Place the ramekins in a deep roasting tin and pour the boiling water from the kettle into the tin so that it comes halfway up the sides of the ramekins. Transfer to the oven and bake for 15 minutes or until golden and set but with a slight, uniform wobble. Leave to cool.
8 Once cool, run a knife around the edge of the souf és and tip each one upside down into a small ovenproof serving dish. Turn the oven up to 220°C/fan 200°C/gas mark 7.
9 Season the cream and pour it over the souf és. Sprinkle generously with the grated cheese and bake in the oven until the cheese is melted and starting to crisp up. Serve straight away.
With over two decades of experience, Manoj Prasad is now Head of Food Development at Heartwood Collection, which includes Brasserie Blanc and Heartwood Inns.
Manoj was born in New Delhi and grew up in India surrounded by the sights and smells of food. He undertook a degree in Hotel Management in Bangalore and quickly began his career working as a Sous Chef for the Taj Group. He wanted to explore where some of the ingredients he was using day to day were from, so decided to move to the UK in 2004 to gain more experience.
Manoj joined Le Petit Blanc as Chef de Partie and his experience has grown with Heartwood Collection as the brand goes from strength to strength. In 2005 he was promoted to Head Chef of Le Petit Blanc Tunbridge Wells and a year later became Head Chef of Brasserie Blanc Oxford, as the company rebranded. He went on to open Milton Keynes, Bristol and Brasserie Blanc’s rst London site Threadneedle Street in 2010.
In 2012, Manoj was promoted to Area Chef for London and worked alongside the business as it acquired the Chez Gerard group and began converting them into Brasserie Blancs.
In 2019 he was overseeing the South Coast Region with Portsmouth, Winchester and Chichester alongside other sites, and later his role progressed into food development where he spent two years working alongside the Group Chef Director.
Manoj is also highly involved in the design of each new kitchen within the Heartwood Collection estate to ensure the spec is up to quality and the space is as functional for the team as possible.
As Head of Food Development, Manoj is responsible for curating the innovative, seasonal menus for both Brasserie Blanc and Heartwood Inns and ultimately maintaining the quality of food across the business. Heartwood’s menus put the spotlight on the nest seasonal and sustainable produce while working with like-minded suppliers in the UK.
When not in the kitchen, Manoj enjoys spending time growing vegetables, fruits and herbs in his garden in Dartford.
Pack as though you are unpacking!
Whether you use a removal company or enlist family and friends to help, be sure to pack as if you were unpacking. Use speci c labelled boxes for each room so when you get into your new home you will know which box goes where. Only take items that you want into your new home, visit the dump, recycle or get uploading to Vinted to ensure you only take what you really want.
Snag!
New builds have SO many advantages when buying your rst home and you will de nitely be looked after. Many people use a professional snagging company to look around your property to highlight any defects that need to be xed by the builders. When this is under your warranty period your property will be repaired. Keep communications open, keep emails and letters for your records.
Join the Facebook Group
Moving into a new development is like moving to a brand new community. You can be in an apartment or house, but you are still very much a part of it. If you are moving in phase three or four then there is probably a group set up already – ask your neighbours. Or if you are one of the rst in then set one up for your fellow residents to join. The groups can be so helpful for the community spirit, street parties or just getting rid of unwanted items!
Moving into your new home is exciting and to help you navigate the transition smoothly, we’ve compiled a checklist to ensure that nothing is overlooked. Know how to move into your new build home with confidence and ease...
Measure Up
Before you get the keys ask your developer/ builder if you can have access to the property to take some measurements. Bring a measuring tape and ensure that the new sofa you might order will t in the living room, or the new wardrobe from IKEA won’t be too big!
The Boring bits!
Yes, moving is fun but it also requires a lot of attention to detail and admin! You will need to set up a broadband connection and TV to your new build property. There can be a wait with this as companies are so busy so make sure it’s one of the rst things you do alongside the house insurance, redirecting your post, or ordering your bins from the council if they don’t deliver without prompting!
No 1
Your new build will most likely come without any number on the door. This won’t be a problem if you are in an apartment but if you are in a house then those Amazon parcels may go walkies! Get your house number and mount it with pride, and while you are doing that, remember to label your bins with the number too!
Referral fees – what you need to know
In the last issue I wrote about the fees you can expect to pay when buying your first property. These are for services provided to you by your conveyancer or that they have purchased on your behalf to ensure that they have all the information they need to advise you correctly and fully on the property that you plan to buy. Stephen Ward, Director of Strategy and External Relations at the Council for Licensed Conveyancers, explains
Lately, though, referral fees have been in the news when it was reported that some estate agents have been accused of withholding “best offers” from sellers, and giving preference to buyers who are financially qualified by mortgage brokers they have relationships with. This is a very worrying practice and one that we expect will be stamped out by estate agents. But what are referral fees and how might they affect you when you buy your new home?
WHAT ARE REFERRAL FEES?
Referral fees are fees that are paid by some conveyancers or mortgage brokers to estate agents for recommending or referring clients to them. Generally speaking, that is money that would otherwise have been spent by the lawyer to market their services to potential clients. Referral fees are common and are allowed by regulators. However, the CLC requires that conveyancers make you aware that in return for a referral or recommendation, your conveyancer will pay a fee to your estate agent. Ultimately, the cost will fall to you, the client.
THE IMPORTANCE OF SHOPPING AROUND
It is important to say that many people who use conveyancers endorsed by their estate agents are happy with the service. Estate agents are unlikely to recommend conveyancers who do not provide a good and efficient service. It is in their interest as well as yours that your transaction progresses as smoothly as possible, after all. However, our advice to anyone is to do some shopping around to find the right conveyancer for you. You are not obliged to take a recommendation from your estate agent on which conveyancer to use. There are comparison websites available that can help you narrow down your choices,
some of those link to Trustpilot or Google ratings and reviews, so you can get advice and insight from beyond friends and family. When it comes to choosing your conveyancer, CLC regulated firms are required to clearly display information on their websites which should help you to make an informed choice about what they offer. This should include:
9 Cost information in a prominent place. Lawyers are required to provide examples of their fees that cover a broad range of services and transaction types including conveyancing.
9 Service information including information on conveyancing timescales and possibly third-party feedback.
9 Regulatory information. You should be able to easily identify who regulates the firm you are hiring. For lawyers regulated by the CLC, this includes displaying the CLC Secure Badge in a prominent place on their website. This allows you to verify the regulated status of the practice and to ensure that the website is genuine.
9 Complaints process All lawyers must display details of their complaints process, including access to the Legal Ombudsman and redress information.
9 Referral details. While lawyers do not need to disclose specific details of referral arrangements on their website, they must say if they enter into such agreements and the average fee, or range of fees, that they pay.
Conveyancing is crucial, and with fees ranging from £500-£1,500 or
more, it’s important you’re confident in the person handling what could be the biggest purchase you make in your life.
Think about the service you need from them. Do you want to be able to check the progress of our transaction, upload the documents you need to provide or answer your conveyancer’s questions outside of office hours? Do you want to be able to speak to a local conveyancer face to face? Do you want a conveyancer who specialises in the kind of property you are buying? You need to think about these sorts of questions as well as just the price of the service.
Recent legal sector research seemed to indicate that consumers were more likely to be happy with the service they receive if they shopped around for it first.
REGULATION
When choosing who to handle your conveyancing, you should also check that the firm you are considering using is regulated by one of the legal sector regulators. Particularly if there is a mortgage involved, you will need a regulated lawyer/ firm to do your conveyancing for you. Regulation ensures that, should something go wrong, you will be protected and have a clear way to seek redress. If you are buying or selling a property, you can find more advice on the topic as well as a list of CLC-regulated conveyancers at clc-uk.org
Why use a specialist solicitor when buying an affordable housing product?
Walk down any high street and you will find a firm of solicitors offering conveyancing services. However, the vast majority of these will have little or no experience of affordable housing schemes
By Andrew Theoff, Director, Shared Direction Conveyancing
Although it has been around for many years, it is only in more recent years that shared ownership has become more prevalent. Likewise, in recent years, various equity loan and discount purchase price schemes have been introduced. However, affordable housing is still only a comparatively small proportion of the overall housing sector, and most solicitors still see affordable housing conveyancing as more complex than “ordinary” conveyancing.
Indeed, those solicitors are not wrong, affordable housing conveyancing can be more complicated for a number of reasons:
9 Shared ownership leases contain many provisions that you will not find in other leases.
9 Mortgages must be approved by the housing association the property is being purchased through, and lenders have more detailed requirements.
9 The legal paperwork for new build properties is extensive. However, it tends to be similar for all plots, so it is
more efficient for a solicitor to act for multiple buyers on a development.
There are some mortgage lenders who only have a limited number of conveyancing firms on their panel that they trust to act for them on shared ownership cases. A buyer who instructs a firm of solicitors which does not specialise in affordable housing may therefore end up paying two sets of legal fees – their own solicitor’s fees for the conveyancing and their lender’s legal fees too. Housing associations, and the mortgage brokers they work with, will also often have panels of solicitors that they recommend who specialise in affordable housing. Buyers can be distrustful of using a firm of solicitors which has been recommended, fearing that they will not be sufficiently independent. Although this is a natural concern and people may often wish to use a more local firm, buyers should understand that their solicitor is duty bound to act in their best interests and is acting for them not the seller. Buyers should also keep in mind that as not all regular high street
solicitors are familiar with affordable housing products, that they will probably charge more for the conveyancing and generally take longer when dealing with such cases.
Therefore, in conclusion, using a firm which specialises in affordable housing or one which is on a “panel” as explained above, means that you will be looked after by an expert who will most likely charge less and generally proceed more quickly than if you used a conventional high street solicitor; in keeping with the housing association or developer’s purchase timelines.
Shared Direction Conveyancing is a niche firm with over 25 years’ experience solely offering conveyancing for new build shared ownership purchases. Demerged from Direction Law (which was one of the largest specialist affordable housing solicitors in the country), we are a friendly, professional firm with over 80 members of staff who aim to communicate with our clients, clearly and concisely. For further information visit sdc-legal.co.uk or for an instant quotation call 0808 273 0273
Shared OwnershipThe Resale Process!
Charlotte Simpson, Trainee Solicitor in Owen Paulo’s resales department, explains the way it works
When you buy a home through a shared ownership scheme, you are purchasing a share in the property’s full market value and pay rent to a landlord who owns the remaining share. The landlord can be a housing association, local council or other organisation. Alongside rent, you are typically paying ground rent and service charges to the landlord too. A resale property is where a shared ownership lease has already been granted and the current leaseholder is looking to sell their share. Essentially, every shared ownership property becomes a resale after the first owner sells.
WHY BUY SHARED OWNERSHIP RESALES?
Resales come in all shapes and sizes due to the various schemes over the years. This means that you can buy relatively new properties without the delay for them to be built (not even a year old in some cases) or much older character properties in established communities. The types of properties available are endless – from flats to houses to maisonettes to coach houses and many more!
Not everyone wants to purchase new build, and the resales shared ownership market offers a much broader variety of
homes suitable for all homeowners and makes owning your dream home more affordable. This means, over time, you can gradually purchase additional shares in the property, eventually meaning you can own it outright. Or should you want to sell, there is a bustling market of potential buyers which can include other first time buyers or even veteran property owners who want to buy a 100% share in the property.
WHAT IS THE PROCESS?
You will be required to apply (usually through the housing association) and complete an eligibility check before you can be approved to purchase the property. A memorandum of sale will be produced with all the details of the transaction.
The process for purchasing a shared ownership home is quite similar to ordinary conveyancing. Your conveyancer will still need to obtain searches, raise enquiries and perform the usual checks. However, they will also need to ask questions specifically related to the housing association’s involvement; requesting a management pack, obtaining the landlord’s approval of your mortgage offer (if you are using one!) and checking for any other requirements of the landlord for the property. Each property is unique, so the number and type
of enquiries will differ. However, the process generally takes between 12-14 weeks from the date the draft contract pack is received, provided there are no unexpected issues. You can also purchase an additional share at this time, if you want to own a larger percentage of the property than the seller. While this can delay the process slightly, as there will be additional work, it does make rent cheaper and means you are a step closer to owning 100% of the property!
As a first time buyer, you can use your Lifetime ISA or Help to Buy ISA towards the property price and can also qualify for First Time Buyers’ Relief. This means that you will pay 0% Stamp Duty on the first £425,000 provided that you intend for the property to be your main residence, and the market value is £625,000 or less. Any staircasing is also exempt from Stamp Duty until you exceed an 80% total share!
Owen Paulo specifically specialises in resales and staircasing and is happy to advise on the above. Please send us an email to enquiries@owenpaulo.co.uk or call us on 0808 196 7020 to obtain a quote, or advice. You can also follow us on TikTok on @owenpaulolegal where you can find further information and advice on the conveyancing process and answers to common questions.
owenpaulo.co.uk
TikTok: The New Face of Mortgage Advice
For many, the internet has been the go-to source for information as long as they can remember, and TikTok is having its turn in the limelight. Forget Google, the new search bar is TikTok, the place for everything from breaking news to life hacks. Surprisingly, it’s even become a place to seek financial advice, with mortgages taking centre stage
Advisers have been popping up on TikTok, supplying everything from depositsaving tips to in-depth mortgage process explanations, with a particular focus on first time buyers. To emphasise the demand, currently, #MortgageAdvice has 82,900 posts under it. But why this sudden influx of mortgage advice on the app?
The surge could be attributed to several factors. Primarily, the evolution of content consumption – characterised by shorter attention spans and a craving for instant gratification – has made TikTok a dominant platform. TikTok’s short-form video format aligns perfectly with this trend, simplifying complex financial topics into easily digestible chunks. Moreover, the app’s casual atmosphere suits a generation accustomed to online interactions.
THE BENEFIT OF MORTGAGE ADVICE ON TIKTOK
Though not necessarily classified as advice, mortgage information has never been so accessible. Users can easily consume mortgage-related content 24 hours a day, while commuting, waiting, or just relaxing at home.
Also, the anonymity afforded by social media could encourage users to ask questions they’d hesitate to ask face-toface. We’ve all been told “there’s no such thing as a stupid question”, but the reality is that many people still feel uncomfortable openly asking for advice. This can lead to more open and honest conversations about finances, creating a clearer path out of the mortgage maze. Additionally, the interactive nature of TikTok, with the ability to comment on and stitch videos together, allows for direct engagement between users and creators, fostering a sense of community and trust.
Beyond financial literacy, TikTok can also influence consumer behaviour. With a significant portion of first time buyers aligning with TikTok’s core demographic, the platform is driving greater awareness of the wide array of products available, such as shared ownership. Young people
who thought they were at least a decade away from being able to afford a home are suddenly being told they could become a homeowner for much less than they thought.
MORTGAGE LIGHT’S TIKTOK DEBUT
Taking note of the shift in how consumers are seeking out information, Mortgage Light is excited to be joining the conversation. With lack of financial literacy within the younger generations a growing concern, we’re keen to leverage TikTok’s reach to provide accessible mortgage advice.
Our goal has always been to make mortgages less confusing. By sharing easyto-understand information, we hope to simplify the homebuying process.
We believe in meeting people where they are now, which is why we are excited to tap into a demographic that might not actively be searching for mortgage information, to inspire and inform future homeowners. Imagine having a knowledgeable friend by your side as you navigate your way around the world of property. That’s the Mortgage Light experience.
From busting common mortgage myths to explaining the different mortgage products available, we’re here to simplify the homebuying journey, one TikTok at a time. Keep an eye on our page for expert advice and a look behind the scenes of the Mortgage Light team! Join our community and let us guide you to getting a home.
mortgagelight.co.uk
Labour’s plan to build 1.5 million more homes is a welcome policy initiative that will surely get more people on the property ladder. The way these targets are delivered is crucial as there is a lack of affordable housing in many parts of the country. However, any planning reforms should ensure that communities are being supported by infrastructure rather than just housing estates. We do not anticipate any immediate changes to the mortgage market. The sticking point for mortgages is the current base rate, and while overall in ation is within target, in ation for core services remains high. The Bank of England is not in a rush to lower interest rates without knowing for certain that in ation won’t be at risk of ticking upwards again. Rate cuts are more effective in stimulating the market than mortgage guarantee schemes. Labour has teased that there may be a new version of the Help to Buy scheme on the horizon. The buy-to-let market may see the most volatility, as potential increases to Capital Gains Tax might cause more landlords to exit the market, or pass the increased costs over to tenants. A proposed ban on “no fault” evictions will be a safety net for some tenants.
Iain
McKenzie, CEO, The Guild of Property Professionals
Fruits of Labour?
The new Labour Government is promising a wave of housebuilding, more affordable homes and reforms to the leasehold system. Kay Hill examines the party’s promises
Labour swept to power in the General Election on a manifesto promising improved rights for tenants, more new houses and an overhaul of leasehold. The election was swiftly followed by a speech by new Chancellor Rachel Reeves, in which she promised to “get Britain building again”, and the King’s Speech at the State Opening of Parliament, which set out immediate plans to reform the planning system, abolish nofault evictions and “bring the feudal leasehold system to end”. Looking at these policies in more detail, what are they likely to achieve to help first time buyers?
TENANTS’ RIGHTS
The high costs of renting have been disastrous for those who are trying to save a deposit, and the uncertainty of renting may push people to buy before they are ready. Labour will introduce a Renters’ Rights Bill, which will make it harder
for landlords to evict tenants, will allow tenants to “challenge rent increases designed to force them out by the backdoor” and will “introduce new laws to end the practice of bidding wars by landlords and letting agents”.
Greater security will be welcomed by tenants, but if too many landlords exit the business, prices could go up rather than down. “As landlords adjust to these changes, there could be a temporary reduction in the supply of rental properties,” says Charles Kelly in his Money Tips Podcast. “Some landlords might sell their properties, leading to a more competitive market for remaining rental units.” And the plans to end prospective tenants bidding against each other could also backfire, says Prof Alex Marsh, Professor of Public Policy at the University of Bristol. “Another possibility is that a ban on bidding wars results in a one-off upward adjustment in rents. Rather than advertise a property at £1,500 a month and use the bidding
process to ratchet that up to £2,000, simply jump straight to advertising at £2,000 from the outset. That might bring greater clarity, but it won’t restrain rental growth.”
BUILDING MORE HOMES
Everyone agrees that a shortage of homes is fuelling house price increases, so Chancellor Rachel Reeves’ announcement that Labour will deliver 1.5 million new homes in the term of Parliament is good news for first time buyers. The Government won’t build the homes, but has reinstated (and in some cases increased) compulsory housebuilding targets for local authorities, and will recruit more planning officers and make planning decisions for major developments nationally.
Rachel Reeves also announced that the Government would reclassify some unattractive greenbelt areas as “grey belt”, suitable for development. Estate agent Knight Frank identified 11,000 of these sites, which, combined with the Chancellor’s pledge that all developments on grey belt would have at least 50% affordable housing,
could create new opportunities for shared ownership or other housing schemes.
Steve Wood, CEO of the National House Building Council regards the moves as positive, “We welcome the new Government’s policy to deliver 1.5 million homes over the next five years, even if our new build registration numbers show there is a mountain to climb. Scaling up will take time but we can be encouraged by the Government’s announcements on new homebuyer incentives, changes to the planning system and investment in infrastructure, including power grids, water supply and roads.”
LEASEHOLD REFORM
Labour’s manifesto said it would “finally bring the feudal leasehold system to an end”, banning new leasehold flats, tackling unregulated and unaffordable ground rent charges and making commonhold the default tenure for new apartments. It would also enact the package of Law Commission proposals to make it easier for leaseholders to gain the right to manage the property and a share in the freehold, and end “the injustice of ‘fleecehold’ private housing estates and unfair maintenance costs”. The King’s Speech confirmed that a Leasehold and Commonhold Reform Bill will be drafted to put these plans into action, giving both leaseholders and those buying homes on estates with service charges more control over their property.
OTHER PLANS
Labour has longer-term ambitions, announced in its election manifesto, that didn’t make it into the King’s Speech – for example, the manifesto stated, “Labour will work with local authorities to give first time buyers the first chance to buy homes and end the farce of entire developments being sold off to international investors before houses are even built”. Before the election, Sir Keir Starmer also promised to deliver Freedom to Buy – a permanent mortgage guarantee scheme that would enable eligible first time buyers to purchase a home with a 5% deposit. The party also pledged to charge an additional 1% Stamp Duty on residential property purchases by non-UK residents. These proposals are not off the table, but are further down the line. Taken as a package, the new Government talks a good talk about tackling the housing shortage – and industry experts have broadly welcomed the reintroduction of housing targets. Yet the policies announced so far are not especially radical or different to what has gone before, so it remains to be seen what is actually achieved in the coming term of Parliament.
The new Government is prioritising homebuilding, promising to deliver 1.5 million homes during its rst term of of ce. With a nationwide shortage of some 4.3 million homes, this still leaves a big hole, but it’s a start. There’s talk of building on “grey belt” land. Knight Frank has identi ed 11,000 grey belt sites, which could deliver 200,000 new homes – a fraction of the 1.5 million promised but encouraging nonetheless. New towns are also being discussed but these are likely to be longer term projects. Arguably, the most promising area being targeted by the Government is unused brown eld land. This is land that has already been built on but which isn’t being used, including the empty shops and of ces that blight our high streets. According to countryside charity CPRE, around 1.2 million new homes could be built using redundant brown eld sites. This would not only account for most of the Government’s 1.5 million goal, it’s also a vote-winner as green eld land is untouched and it will help bring our town centres back to life. It’s the quickest route to hitting the target, but the Government must actively encourage people to get into small-scale development to take on these projects, as larger homebuilders won’t touch them.
Ritchie Clapson, Co-founder, propertyCEO
Labour’s Green Energy Plan
The new Labour Government recently unveiled plans that will see millions more homes fitted with solar panels with the aim of lowering the cost of domestic energy bills as well as tackling the climate crisis. The former Conservative Government had previously blocked plans to build three new large solar farms but – as one of the first announcements he made – Labour’s incoming Energy Secretary, Ed Miliband, overturned the ban making it highly likely that they will now go ahead. These solar farms, in Lincolnshire and on the Suffolk Cambridgeshire borders, will deliver around two-thirds of the solar energy installed on rooftops and on the ground compared to what was delivered last year. Miliband wants to triple the UK’s amount of solar power by 2030 as well as double the amount of onshore wind farms and quadruple offshore wind, “I want to unleash a UK solar rooftop revolution. We will encourage builders and homeowners in whatever way we can to deliver this win-win technology to millions of addresses in the UK so people can provide their own electricity, cut their bills and at the same time help fight climate change.”
WIND VERSUS SOLAR POWER
Wind is a more efficient power source than solar. Compared to solar panels, wind turbines release less CO2 to the atmosphere, consume less energy, and produce more energy overall. One wind turbine may generate the same amount of electricity as seven football fields of solar panels. Energy experts have welcomed Miliband’s plans for more solar and more wind farms which they think will improve the UK’s supply of renewable energy. At the moment most of it is concentrated in the north of the UK but it has to be transmitted down south where there is more demand. Currently, gas
generators supply households in the south with electricity and, since Russia’s invasion of Ukraine, gas costs have risen substantially. The new Labour Government believes that the new solar and wind farms will provide clean energy for around 92,000 homes over the next 60 years as well as create jobs.
GREAT BRITISH ENERGY
Ed Miliband’s Department for Energy Security & Net Zero also issued a statement setting out plans for a new publicly owned energy company as part of its Great British Energy Bill which it will bring to Parliament. Miliband warns that investing in clean energy quickly and at scale is vital, “In an unstable world, the only way to guarantee our energy security and protect billpayers permanently is to speed up the transition away from fossil fuels and towards homegrown clean energy.”
With the aim of making the UK a “clean energy superpower by 2030” he intends creating a publicly owned company headquartered in Scotland which will invest in clean, homegrown energy. “Great British Energy stems from a simple idea: that the British people should have a right to own and benefit from our natural resources. These resources belong to all of us and should be harnessed for the common good.”
Miliband pointed out that foreign governments already own some of the UK’s energy companies, but he intends for British people to own and build things again as he feels that, while other countries have grasped the opportunities of investing in clean energy, Britain has been left behind. He wants the UK to have less exposure to volatile gas prices as Great British Energy will own, manage and operate clean power projects. “It will be a company that will generate energy in its own right, working in
Could the new Government’s “rooftop revolution” cut energy bills and even tackle the climate crisis? Ginetta Vedrickas reports
partnership with the private sector for the good of the country. Great British Energy will create thousands of good jobs, with good wages, across the country.”
NEW SOLAR STANDARDS FOR NEW BUILD HOMES
Alongside plans for a UK-owned energy company, ministers are also working with the building industry to make it easier to buy new homes with panels installed or install them on existing ones. Ministers are looking at bringing in solar-related standards for new-build properties from next year. At present, while formal planning permission is not required, there are restrictions on where and how high up on buildings they can be placed. There are also restrictions in conservation areas and on listed buildings. These may also be re-examined.
BUYERS DEMAND ENERGYEFFICIENT HOMES
As the UK welcomes a new Government and fresh housing policies, demand for energy-efficient new homes is on the rise, according to new data from Knight Frank. Its recent buyer sentiment survey reveals a shift in housing preferences, with onefifth of respondents expressing an interest in purchasing a new home. This marks an increase from the 13% recorded in the three preceding years. Energy efficiency has become a crucial factor for homebuyers, with 60% citing it as their primary reason for choosing a new build. This trend is driven by the desire to reduce winter heating costs and mitigate the effects of increasingly frequent summer heatwaves.
Knight Frank is seeing more UK developers installing energy efficiency measures –
such as solar panels – which all contribute to a property’s energy efficiency rating. A high Energy Performance Certificate, EPC, can demonstrate that a property has good insulation and glazing, ensuring it stays cool in summer and warm in colder months. The survey also found an increase in the proportion of respondents who do not want to install energy improvements themselves. This has increased from a fifth two years ago to nearly 30% today, pointing to the rising convenience of new build homes.
HOUSEBUILDERS INSTALLING SOLAR PANELS
Some developers are ahead of the curve when it comes to green measures including solar energy. Bellway’s first “Zero Bills” homes, which guarantee no energy bills for at least five years, are under construction in Stafford. The developer has partnered with Octopus Energy to build three eco-friendly properties at its Victoria Gate development. Each home features state-of-the-art green energy technology, including an air source heat pump, roof-mounted solar panels, plus a home battery. Octopus manages these low carbon devices through its technology platform, Kraken, to achieve a zero energy bill. A three bedroom Turner Exemplar house type is available for £287,000.
Legal & General Affordable Homes, LGAH, is building a new “eco-friendly neighbourhood” Hart Grove in Thundersley, Essex. The net-zero carbon homes are all equipped with solar panels plus EV charging points. Homes have been designed to maximise energy efficiency and will meet EPC A standards. Hart Grove contains two and three bedroom homes, available for sale in early 2025 through shared ownership.
Barratt David Wilson North Thames has also noticed increased demand for energy-efficient homes. Sales and Marketing Director Marc Woolfe says that, while traditionally buyers’ priorities have been price and location, sustainability is increasingly important, particularly when it affects how much money can be saved on energy bills. Its latest homes at Clipstone Park and Kingsbrook developments in
Leighton Buzzard and Aylesbury incorporate Part L standards, which ensure that all new homes in England are built to maximise energy. Many homes at Kingsbrook will be up to 64% more energy efficient than the average Victorian home, saving prospective buyers up to £2,590 per year in bills. The housebuilder says that fitting solar panels on rooftops will increasingly become the norm for new housing developments up and down the country.
Sovereign Network Group has been installing solar panels on its developments for several years. It recently installed panels at its developments in the South West, including St Michaels’s Meadow and Moonhill Rise in Exeter and Heritage Green in Alphington. SNG’s Technical Director Richard Young says, “This forms part of our affordability strategy for customers, helping to lower their utility bills, as well as leading into the Future Homes Standard and our wider retrofit proposals in a bid to make the majority of our homes EPC rated B or above by 2047.”
Solar panel supplier BOXT has spotted an increase in people considering installing solar panels and it points to Google search data showing that searches for solar panels have risen by 25% over the past six months. The company has plenty of information on its website for anyone considering the green energy switch including how solar panels work, installation and maintenance, and the benefits. Andy Pattison, BOXT’s Head of Renewables says, “Solar panels can also reduce your energy bills, with recent studies showing that with a solar panel system, you could reduce your bills by as much as £1,096 a year.” He adds that some people may be able to get panels fitted free or get a grant towards installing them via its ECO4 eligibility questionnaire via boxt.co.uk.
Pattison welcomes Labour’s green energy plan, “By fostering a stable environment, the Government can help unlock the full potential of renewable energy, driving innovation, creating jobs, and ensuring a sustainable and secure energy future for the UK. This in turn should give consumers confidence in renewable energies as they see positive changes being made.”
EXPERT COMMENT
Energy-ef cient new homes are on the rise, with the number of new homes awarded top EPC A grade hitting a record high in the second quarter of this year. We are now seeing an uptick in demand for these homes, with our survey showing the rst notable shift in over three years. This trend has longer to run as more buyers are also taking note of future environmental regulations and planning ahead.
Anna Ward, Associate in Knight Frank’s research team
We are nding that Gen Z is more concerned about the environmental impact of their lifestyle and are asking more questions about renewable energy sources and the long-term sustainability of the home. As this generation become rst time buyers in the next ve to 10 years, we expect these considerations to have a signi cant in uence on their purchasing decisions.
Marc Woolfe, Sales & Marketing Director, Barratt David Wilson North Thames
Labour aims to double onshore wind, triple solar power, and quadruple offshore wind by 2030. In light of this, there is a hope for stability and clear direction from the Government, ensuring that the energy industry can move forward and achieve its targets. Clear policies, consistent support, and streamlined regulatory processes will be crucial. By fostering a stable environment, the Government can help unlock the full potential of renewable energy, driving innovation, creating jobs, and ensuring a sustainable and secure energy future for the UK. This in turn should give consumers con dence in renewable energies.” EXPERT
Andy Kerr, Founder, BOXT
Agony agent
Readers put their property questions to our guest panel of experts: solicitors, mortgage advisers, property gurus and shared ownership providers
Stephanie Tilley, Operations Manager, The SO Hub
Rebecca Jones, Client Account Executive, Edward Thomas Interiors
Stefan St Hilaire-Brown, Assistant Director of Property Services, Newlon Housing Trust
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, shared ownership, 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@ rsttimebuyermag.co.uk
Where do I start?
I am a first time buyer and I am interested in shared ownership, but it’s quite confusing, where do I start?
Maddy Corby, Epping
AIt’s great to hear your interest in shared ownership! It’s a fabulous, affordable way to start your homeownership journey. However, I understand why it can seem confusing at first. The basic principle of shared ownership is that you buy a percentage of a home and rent the other part from a provider. This gives the security and most of the freedoms of being a homeowner, but with a smaller financial hurdle to overcome. We are all familiar with reports of record high house prices, and the difficulty for first time buyers saving a deposit. Being able to buy as little as a 10% share in a home makes that initial cost more accessible, allowing over 80% of shared ownership buyers to purchase a home sooner than expected.
If you’re interested in beginning your shared ownership journey, then start by looking at the shared ownership homes available near you. Like most new build developments, you will be able to find listings online and can speak to the agents involved.
If you like what you see, then you should find out the details of the deal, like what shares are available to buy, and how the lease would work. Specialist shared ownership agents like us at The SO Hub, can answer your initial questions, provide free advice, and point you towards a specialist shared ownership mortgage adviser.
With a mortgage adviser, you can talk finances, get qualified on the minimum share you could buy, and complete the rent stress test to work out exactly what you can afford. From there, agents like myself can help to guide you through the purchasing journey.
My experience has shown me first hand how shared ownership can profoundly impact people, I regularly see people overcome with emotion as they achieve their homeownership dreams, and statistically, nine out of 10 shared ownership buyers say it has improved their quality of life. Shared ownership enables people to live in a new home that fits their needs and wants, with the security of tenure that provides a foundation going forward. It’s a journey I highly recommend starting.
Stephanie Tilley
How do I make a mood board?
QI’m thinking about interior design styles for my new home, where should I look and how should I organise my thoughts?
Dana Williams, Solihull
Atypical starting point is something that inspires you. This could be something as simple as a photo or video, or more specific such as a fabric or wallpaper. Use this to begin your search. Start online with platforms like Instagram, Pinterest and TikTok and you’ll soon have a collection of ideas that are connected to your original inspiration. Save these for using on your mood board.
Mood board? Yes, a mood board is the simplest way to collate and visualise your ideas for your home styling. Within these, you can mix and match colours, textures and fabrics to achieve your desired look. The most effective mood boards are a combination of digital and physical samples. So use apps like Canva or Morpholio Board to bring all your digital findings together and dig out those craft supplies for anything tactile! Fabric samples are a must but don’t discount wallpaper and paint colours too as you can’t see true colours through a screen.
Don’t worry if your mood board is messy to start with, it’s natural to be a little chaotic. But once you’ve settled on a specific style or colour palette, edit your board to focus on the room or rooms you want to decorate. We recommend sketching or drawing out the footprint and then moving ideas for furniture, wallcoverings and accessories within this. Also think holistically with your styling
Building Safety Act
QWhat is the Building Safety Act and how it will affect me as a new leaseholder in a tall building? Will I be liable for historic building safety costs?
Rosie McCormack, Romford
AThe Building Safety Act 2022 (the Act) is a significant piece of legislation designed to make buildings in England safer.
The Act was introduced in response to the Grenfell Tower fire, which killed 72 people in 2017. The Act received Royal Assent on 28 April 2022, making ground-breaking reforms to give residents and homeowners more rights, powers, and protections. It applies to all high-rise residential buildings in England, regardless of when they were built. A high-rise residential building is defined as:
9 At least 18m in height or has at least seven storeys
9 Contains at least two residential units
9 It covers both purpose-built flats and converted buildings
The Act introduces new duties for building owners and managers, who must:
9 Establish a building safety manager for each high-rise residential building
9 Carry out a building safety risk assessment for each high-rise residential building
9 Create a building safety plan for each building
9 Keep records of all building safety-related information
9 Comply with all relevant building safety regulations
What are leaseholders’ rights in high-rise buildings?
The Act also introduces new rights for leaseholders, including:
9 The right to information about the safety of their building
9 The right to challenge decisions made by building owners
– you want space for personalisation and individuality but with a commonality running throughout. Allow time to let your mood board sit too. You might find that a visit to an independent store or a high street staple like TK Maxx, Dunelm or Next Home gives a new perspective and makes you rethink your ideas.
Don’t be afraid to look outside the home interiors sphere either; commercial spaces like restaurants, bars and hotels often have really creative ideas that translate well into a home environment.
Rebecca Jones
9 The right to raise issues directly with the building owner
9 The right to have more say in how their building is kept safe
What are leaseholder protections?
The Act describes leaseholder protections as “protecting innocent leaseholders from the unfair burden of remediation costs to make their home safe”. It explains that leaseholders are protected in law from crippling bills for historical safety defects.
Therefore qualifying leaseholders in England can no longer be charged to remove unsafe cladding systems, and there are legal protections in place for non-cladding costs. Qualifying leaseholders can only be asked to share capped non-cladding costs in certain circumstances and there will be clear transparency and financial reporting requirements for building owners.
Who do the leaseholder protections apply to?
The leaseholder protections apply to leaseholders owning a property in a building above 11m (or five storeys, including the ground floor), and where, on 14 February 2022:
9 The property was the leaseholder’s main home
9 The leaseholder owned no more than three UK residential properties in total
Where the property was not the leaseholder’s main home on 14 February 2022 because they had to move out and sublet, it will be covered if the criteria above are met. The protections automatically transfer to any future buyers of the property. This means that all new owners of a property that was eligible for the protections on 14 February 2022 will be covered, even if they have bought it since then.
Stefan St Hilaire-Brown
Buyers’ guide
FTB EXPLAINS ALL THE
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 backs several schemes to help people get on the property ladder. The best known is shared ownership which is open to people with a household income of up to £80,000 (£90,000 in London). More details are below.
BUYING ON THE OPEN MARKET
Many people buy property on the open market. Homes are offered for sale by estate/sales agents or from private developers or housebuilders. On new build developments there is usually a show home you can look around and a sales adviser, based on site, to answer your questions. To buy on the open market, you will need a mortgage deposit of at least 5% to 10% of the full property value.
BUYING A NEW HOME OFF-PLAN
Demand for new homes often outstrips supply; this means that new homes are often reserved before their construction is complete, sometimes several months before they are built and finished. This is called “buying off-plan”. Most providers market and sell their homes in this way. Do some careful research to make sure the home you reserve is the right one for you, especially as you may not have an opportunity to physically view inside it before your commitment to buy it becomes a legal obligation.
PRIVATE INITIATIVES
Some builders offer incentives on new build homes such as cashback, legal fees or help with moving costs. You could also try to negotiate for upgrades to specification items like floorings or kitchen appliances.
TO HELP FIRST TIME BUYERS
GOVERNMENT AND PRIVATE SCHEMES
Help to Buy: Equity Loan/Deposit Unlock
Equity loans through Help to Buy are no longer available; they ended in October 2022. The Home Builders Federation (HBF) together with some housebuilders and mortgage lenders are offering a new scheme called Deposit Unlock as an alternative. This helps first time buyers to buy a new home with a 5% mortgage deposit. More information is available at hbf.co.uk/deposit-unlock
Shared ownership/part-buy, part-rent
The Government-supported shared ownership scheme is available for people with household incomes up to £80,000 (or £90,000 if buying in London.) Shared ownership homes are always leasehold. With this scheme, you buy a share in a property and pay rent on the rest. Rent is calculated at 2.75% (sometimes less), with annual increases of RPI + 0.5%. The amount of share that you buy is calculated based on your affordability. On many shared ownership homes the minimum is 25% (but could be higher). On some homes, you can buy a lower share starting from 10%, but these are not widely available at present. The mortgage deposit you’ll need to buy with shared ownership is calculated on the share value; this works out at a lot less than if you were buying outright. Shared ownership homes can be new build or resales, apartments or houses across many parts of England.
If you buy a home with shared ownership, you will be given the right to buy more shares in the future. This is called staircasing. In most cases, you can buy shares up to 100% of the property and own it outright. When you buy more shares, these are valued at the market value at the time. Because house prices tend to rise over periods of time, it is a good idea to think about staircasing at an early date.
First Homes
This scheme offers first time buyers discounts of 30-50% on certain new build homes. Local authorities may limit these to key workers or those who live or work in the area. When the home is sold it must be to another eligible first time buyer at the same percentage discount.
Rent to Buy
This scheme allows you to rent a new build property for up to five years and pay a redued rent while you save for a deposit. It is not widely available, however.
Right to Buy
The Right to Buy scheme helps eligible council and housing association tenants in England buy their home with a discount of up to £87,200 (£116,200 inside London). You probably have the Right to Buy if you’re a secure council tenant and have spent at least three years as a public sector tenant. Some properties are exempt.
Older People’s Shared Ownership (OPSO)
This is designed for people aged 55 and over. Scheme specific details vary, so check with the housing association provider.
Home Ownership for People with Long Term Disabilities (HOLD)
HOLD is a specialist option to help people with long term disabilities live independently in a shared ownership property where, in some cases, repairs and maintenance services are offered by the provider.
Other options
There are a few less well-known Government-backed schemes; more details can be found at ownyourhome.gov.uk
The Lifetime ISA (LISA) is a long-term savings product intended to support younger people aged between 18-39, resident in the UK, saving for their first home, or for later life. Up to £4,000 can be saved each year, attracting a government bonus of 25% on each new payment. Funds can be withdrawn without charge 12 months after opening the LISA, if used as a deposit for the account holder’s first home, subject to certain conditions. The property value must be under £450,000.
BUYING ON THE OPEN MARKET & PRIVATE INITIATIVES
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 provider’s lending criteria.
The ftb process
TIPS
APPLICATION
You will need at least three months of bank statements, payslips or tax returns, photo ID such as a passport or driving licence and details of any loans. Lenders 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 mortgage rate you’ll be offered.
BUDGET
Work out how much you can afford to repay each month, taking into account your normal living expenses and the bills, insurance and council tax on your new home. Don’t forget there is likely to be a service/ estate management charge on a new home, plus ground rent for a leasehold property, so find out how much they will be.
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 soft search rather than a hard search as too many applications leave “footprints” on your credit score and can affect your rating. To improve your score, make sure you’re on the electoral roll, and pay your bills and any loan repayments on time.
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 repayable over a number of years (usually 25-35 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 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 lender, 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 around 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.
MORTGAGE BROKERS VS LENDERS
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 or building societies can only sell you products offered by that company, 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 mortgages online at sites such as moneysupermarket.com or
SET A BUDGET
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 there are no mistakes on your le, and pay off any debts you can.
SHOP AROUND
Speak to a mortgage broker, but also look at lenders’ direct products and search the internet.
moneysavingexpert.com, then apply directly to your chosen lender.
FIXED-RATE MORTGAGES
Some mortgages are fixed rate. This means you’ll pay the same rate of interest for a defined period of time, and your payments 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 (which is often quite expensive) or remortgage to another lender. Remortgaging to another lender can sometimes 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 are also variable, but they have repayment rates that are directly linked to the base rate so will go up and down with it. With variable-rate mortgages you need to be sure you could afford higher repayments if rates rise.
REPAYMENT OR INTEREST-ONLY
Most mortgages available to first time buyers are on a repayment basis. With this type of mortgage, every monthly payment will pay off some interest and some capital (mainly interest in the early years). At the end of the term, you’ll own your home outright. If you have a larger (25% or more) deposit you may be offered an interest-only mortgage, where you only pay interest on the loan. The monthly repayments are lower but at the end of the term you’ll still owe the original mortgage sum. You’ll need to prove you have a plan in place (such as an investment) to pay off the capital.
DECIDE ON A LOCATION
Be practical.
Think about the commuting time and whether you can afford to buy in the area.
RESEARCH THE AREA
Check out crime statistics, transport links, regeneration and, if relevant, schools.
Thorough research
Buying a property is a big investment. You need to make sure you buy a home that you can afford and one you will 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 look at 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 homes are listed on property portals such as rightmove.co.uk, onthemarket. co.uk, or zoopla.co.uk, plus estate agents’ websites. Properties featured have pictures, descriptions and a floor plan, and
SEARCH
Register with local estate agents, and use the internet to search for properties. Set up alerts.
VIEWINGS
Look at several properties, and visit ones you like more than once and with someone else. Take a checklist.
sometimes a video. Also, sign up with as many local estate agents as you can. They should send you new properties that match your description, but it’s worth phoning them regularly. If you’re looking for a shared ownership property, search online at sharetobuy.com and propertybooking.co.uk.
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 decor 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.
OFFER
If the market is slow, when making an offer, don’t be afraid to offer less than the asking price. If the property needs work done, you can use this as a negotiating tool.
SURVEY
Make sure you have a survey – it could save you money in the long run by spotting any problems.
SOLICITORS
RESEARCH AN AREA
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, and also on property portals like rightmove.co.uk/zoopla.co.uk.
Aerial shots of an area can be viewed at google.co.uk/maps; switch to “satellite view”.
Before you put in an offer, visit the street at different times of the day and night. You could also 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.
Compare quotes from solicitors, and ask your friends who they recommend. A good solicitor can make a big difference to whether a purchase completes or falls through. Online companies can be cheaper but are less personal.
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.
TIPS
SURVEYS AND VALUATIONS
B
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.
SOLICITORS
BUYERS’ COSTS
SOLICITOR’S/CONVEYANCING COSTS (ESTIMATED)
£1000-£1,800
LOCAL AUTHORITY SEARCH FEES (ESTIMATED)
£150-£300
LAND REGISTRY FEES:
Scale 1 fees relate to the registration of both new builds and resale properties for monetary consideration.
Apply using the portal or Business Gateway, for transfers or surrenders which a ect the whole of a registered title
For a purchase of £0 - £80k £20.00
For a purchase of £80,001-£100k £40.00
For a purchase of £100,001 - £200k £100.00
For a purchase of £200,001 - £500k £150.00
For a purchase of £500,001 - £1,000,000 £295.00
For a purchase of £1,000,001 and over £500.00
Apply using the portal or Business Gateway, for registration of all leases and transfers or surrenders which a ect part of a registered title
For a purchase of £0 - £80k £45.00
For a purchase of £80,001-£100k £95.00
For a purchase of £100,001 - £200k £230.00
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.
Use a recommended solicitor who you know to be reliable and who 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.
INSURANCE
You must have buildings insurance in place for when you exchange contracts (not complete). This will be a condition of your mortgage offer.
REMOVALS
Shop around for a removals rm, and nd one that can move your possessions on completion day. You could also look at van hire to do it yourself.
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 restrictive covenants 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.
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. You will sign the contract with your solicitor, and at the point of 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 completion date is usually around a week to 10 days after exchange, but can be done on the same day. On completion, the final paperwork is done, and the property is legally yours.
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.
COMPLETION
Your solicitor or estate agent will call you to tell you the property is yours. The solicitor will have some nal paperwork to do, and you will then have to pay the solicitor’s bill and your Stamp Duty payment (if applicable). solicitor’s bill and your Stamp
For a purchase of £200,001 - £500k £330.00
For a purchase of £500,001 - £1,000,000 £655.00
For a purchase of £1,000,001 and over £1,105.00
STAMP DUTY LAND TAX (SDLT) (UNTIL 31/09/2022):
Up to £250,000 Zero
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%
In October 2022 you buy a property for £295,000. The SDLT you owe will be calculated as follows: 0% on the first £250,000 = £0 5% on the final £45,000 = £2,250
Total SDLT = £2,250
OTHER FEES TO CONSIDER (ESTIMATED, DEPENDENT ON CIRCUMSTANCES):
MORTGAGE ARRANGEMENT FEE
Expect to pay a fee of at least £1,000 to secure an attractive rate. But some can be £2000+
The lender will usually o er you the option to pay the arrangement fee upfront, or you can add the fee to the mortgage. The disadvantage of adding the fee to the mortgage is you’ll pay interest on it, as well as the mortgage, for the life of the loan. But if you pay the fee upfront, there’s a chance you could lose it if anything went wrong with the purchase.
MORTGAGE VALUATION
Typically, around £300-£600, but can be significantly more
MORTGAGE BROKER’S FEE
£0-£500 usually paid at mortgage application
BUILDINGS INSURANCE
Estimate £200-£300 annually – The price depends on the cover you require and your excess. The building insurance is calculated based on the cost of rebuilding your home is known as the ‘buildings sum insured’. It’s important to know that there’s likely to b a di erence between your home’s market value and the cost of rebuilding your home.
GROUND RENT (LEASEHOLD ONLY) & SERVICE CHARGES
£700-£4,000 annually
If you own a long lease on a property in England and Wales you will normally have to pay rent to the freeholder or landlord of the property; this is known as Ground Rent. The lease will normally specify how much rent you have to pay and when it has to be paid. The ground rent can be a fixed sum for the length of the lease, or the lease can provide for the ground rent to increase over the course of the lease. Service charges vary based on the building and the services provided. A building with concierge service, numerous lifts can be very expensive. You should go through the service charge costs with your solicitor. These are audited and the price paid changes annually generally in April. New freehold homes may also have service/estate charges for maintenance of communal areas.
REMOVALS (IF REQUIRED)
£500-£2,500
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 homebuying glossary is here to make the process a whole lot easier to understand
AGREEMENT IN PRINCIPLE
The initial document that a lender will give you outlining the amount you are likely to be lent if you applied for a mortgage. An agreement in principle is not a guarantee of getting a mortgage.
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.
ARREARS
This is a term used to describe payments that haven’t been made on time.
BASE RATE
The interest rate set by the Bank of England. Lenders usually use the Bank of England base rate to set their own interest rates.
BROKER
A broker is someone who gives you advice on your mortgage. Some are independent, while others work for particular lenders.
BUILDING SURVEY
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 the paperwork is complete, all money is transferred and you become the legal owner of your new home.
CONVEYANCING
The legal process of transferring ownership of a property.
DISBURSEMENTS
These are additional charges incurred during the homebuying 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.
EARLY REPAYMENT CHARGE
LAND REGISTRY FEES
This is a fee you have to pay in order to register your ownership of the property with the Land Registry.
This is an amount of money you may have to pay a lender if you decide to move mortgage provider or if you pay off your mortgage quicker than expected.
EQUITY
The difference between the value of the property and the value of the mortgage you have secured.
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.
FREEHOLD
A freehold is when you fully own a property and the land it stands on.
GAZUMPING
When a seller accepts an offer and then later on rejects it in favour of a higher offer from another bidder.
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 may charge a one-off extra fee. This funds an insurance policy that protects the lender (not you) from the additional risk.
LEASEHOLD
A type of tenure where you buy the right to occupy a 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, also called SDLT. This is a Government tax you may have to pay 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.
A simple guide to staircasing
As shared ownership is an attractive and affordable option for first time buyers, providing a much-needed step on the property ladder, Coralie Phelan, Partner and Head of Resales and Staircasing at Prince Evans Solicitors, explains how you can increase your ownership by staircasing
WHAT IS STAIRCASING?
Staircasing is the process of buying additional shares in a shared ownership property with a corresponding reduction in specified rent. You are basically purchasing more equity.
There a number of advantages to staircasing as follows:
9 Most leases allow you to purchase 100% of your home
9 You may benefit from more mortgage choices as you are not limited to shared ownership products
9 It may be easier to sell the larger the percentage owned
9 You have increased security when you own more equity
9 You pay less rent
9 The greater the percentage owned, the more you benefit from any property price uplift
HOW DO I START THE PROCESS?
The first step in the process is to contact your landlord housing association and provide formal notice of your intention to staircase. You will need to arrange for an independent surveyor to visit the property and work out the current market value. You will receive a copy of the valuation and will be asked to confirm you want to proceed with the process.
At this stage you will need to consider how you will be funding your staircasing. If you are remortgaging, you should now contact a mortgage adviser who will assist you in selecting the best mortgage product for you.
HOW MUCH DOES STAIRCASING COST?
You will need to pay for the following:
9 A valuation
9 Your own legal fees
9 Your mortgage arrangement and mortgage adviser’s fees
9 You might be required to pay SDLT
9 You might be required to cover your landlord’s legal and administrative fees
WHAT ARE DIFFERENCES BETWEEN OLDER LEASES AND THE NEW HOUSING CORPORATION MODEL LEASE IN TERMS OF RIGHT TO STAIRCASE?
A new 1% staircasing schedule has been introduced in new leases. Older model leases usually allow for staircasing in 10% increments.
THE LEGAL PROCESS FOR STAIRCASING AT A GLANCE
First stage – financial assessment
9 You may wish to consider staircasing when your current mortgage deal comes to an end
9 You will need to have your finances assessed to see if you can afford to purchase additional shares
Second stage – arrange a valuation
9 Once it is established that the transaction is affordable you can then liaise with the housing association to arrange a valuation
9 You usually have 12 weeks to complete before the valuation expires
Third stage – instruct a solicitor
9 Once the valuation has been arranged you should then instruct a conveyancer who specialises in staircasing such as Prince Evans Solicitors
9 The housing association’s solicitor will issue the draft memorandum of staircasing to your conveyancer
Fourth stage – review the memorandum of staircasing
The memorandum of staircasing is the document that records the purchase of the additional shares.
9 Your conveyancer will check the terms of the memorandum and then report to you regarding the terms and enclose the memorandum to sign
9 If you are remortgaging, your solicitor will also deal with the remortgage element and ensure all your lender’s requirements are met
Fifth and final stage
Once you have signed the documents your solicitor can fix a completion date.
9 Your solicitor will then produce your final invoice for payment before completion
9 Your solicitor will then deal with the post completion requirements including registering the Memorandum at the Land Registry
SUMMARY
There are many advantages to staircasing including financial security. However, it is imperative you instruct a conveyancer specialising in this area to ensure you receive accurate advice.
At Prince Evans Solicitors our expert team is happy to provide assistance or a quote. Do call us on 020 8567 3477 for a no-obligation quote
Directory
CHECK WHICH SCHEME IS RIGHT FOR YOU!
With a range of Government schemes available to make buying a home more affordable, find out which scheme is right for you.
SHARED OWNERSHIP
If you can’t quite afford to buy 100% of a home, you could buy a share of a home instead and pay rent on the rest.
SHARED OWNERSHIP RESALES
FIRST HOMES
A new scheme supporting local rst time buyers, including key workers, on to the property ladder by offering new build homes with at least a 30% discount compared to market prices.
RIGHT TO BUY
If you’re a council tenant in England, the Right to Buy scheme could help you buy the home you rent with a discount of up to £87,200 (£116,200 in London).
If you can’t afford to buy a whole home, you could buy the same share of a home bought by its current owner when they used a shared ownership scheme.
HOME OWNERSHIP FOR PEOPLE WITH LONG-TERM DISABILITIES (HOLD)
If you have a long-term disability, the HOLD scheme in England could help you buy any home for sale on a shared ownership basis.
OLDER
PEOPLE’S
SHARED OWNERSHIP (OPSO)
If you’re aged 55 or over, the OPSO scheme could help you own up to 75% of any home that’s for sale on a shared ownership basis.
FIND OUT MORE
For a more detailed description of each scheme please visit ownyourhome.gov.uk
RENT TO BUY/LONDON LIVING RENT
Rent to Buy gives tenants in England the chance to rent a home at Intermediate Rent, providing them with the opportunity to save for a deposit over time to purchase the home.
The scheme is available in England, apart from London. Properties in London are covered by a separate scheme called London Living Rent.
THE MORTGAGE GUARANTEE SCHEME
A UK-wide Government scheme to help to increase the supply of 5% deposit mortgages for credit-worthy households by supporting lenders to offer these products through a Government-backed guarantee
on new 95% mortgages.
PRESERVED RIGHT TO BUY
If you’re a housing association tenant in England you could be eligible to buy the home you rent with a discount of up to £87,200 (£116,200 in London).
STAMP DUTY LAND TAX RELIEF
Stamp Duty Land Tax (SDLT) is a tax on property purchases. First time buyers pay a reduced rate of zero SDLT on the rst £425,000 and 5% on the amount between £425,001 and £625,000. No discount applies on homes over £625,000. The level of relief will be reduced from 1 April 2025.
HOMEBUYING PROVIDERS
LONDON
Estuary Housing Association estuary.co.uk 0300 304 5000
Fabrica fabrica.co.uk 020 3797 2194 020 8825 1000
Gateway Housing Association gatewayhousing.org.uk 020 8709 4300
Places for People placesforpeople.co.uk 01772 667 002
Sanctuary North sanctuary-housing.co.uk 0800 131 3348
Thirteen thirteengroup.co.uk 0300 111 1000
20 QUESTIONS
What room at home is your favourite?
The bedroom, I‘m fortunate to get a view of the sea from my room, plus, I love my bed.
What’s your favourite gadget or technology at home?
My PlayStation 5. Getting home from work and playing something like Final Fantasy helps me leave the housing sector for just a little bit! What colour do you think everyone should have in their home? Red. It can be such a statement! Don’t paint your whole room, but one piece can add some luxury and recapture someone’s attention, especially if you have a big house and someone has already seen seven different rooms.
Which three people would you invite over for a housewarming party if you could have any guests?
Taylor Swift, Sarah Michelle Gellar, Michelle Yeoh – in the words of the LGBTQ+ community, they are "Mother"!
What’s your favourite memory from your childhood home? Me and my older brother were adamant we saw a UFO when we were staying up late one night. Hindsight is a wonderful thing, and it was probably a shooting star, but you couldn’t convince age five Joel otherwise!
What interior trend do you hate?
I’m not a fan of trends in general. Trends are fleeting and your home is a permanent residence, and who has the money and the time to change things up every couple of years because mustardy yellow is no longer "in" and now the new colour is sage green? That being said, "Live, Laugh, Love" has had its moment, can we remove it from our lives now please?
Would you rather have a garden or a balcony?
A garden, but only if it comes with a gardener. Having a garden has taught me something... I’m too fancy for that. Do you prefer modern homes or period properties?
A period home. A modern home can be lovely, but I think the novelty can wear off quickly.
Would you rather have a library room or media room at home?
A library, a la Beauty and the Beast. I can watch a movie on the sofa in my front room, I don’t need all the bells and whistles. Would you prefer to have a luxurious bathtub or a sumptuous shower?
A bathtub all the way. Before buying my house, I went years with only a shower, and it nearly killed me!
Joel Taylor started his journey as a Legal Assistant specialising in resales shared ownership, before moving into business development. Now, five years later, he is Head of Business Development & Marketing for Owen Paulo Legal, England’s only conveyancing law firm specialising solely in resales and staircasing. With over 100 companies that Owen Paulo works with, including some of the largest housing associations and financial advisers in the country, it is Joel’s job to manage their accounts. He also maintains the company website, handles its branding and advertising and manages its social media so, shameless plug, go and follow on TikTok if you don’t already!
Would you rather live in the bustling city or in the country?
Around 10 years ago, I’d have given anything to move to London and star in the West End. But now, I’m much more of a country boy!
If you were buying a property overseas, in what country would you buy a home?
Definitely Italy! Architecture, pasta, wine! Plus, I can relive the ending scene of The Lizzie McGuire Movie!
Would you rather have a bigger property or a better location?
A better location. I grew up in some tiny places, I can make do. What is one thing you couldn’t live without at home?
My dog Jensen, does that count? The evening cuddles cannot be replaced!
What’s your favourite way to unwind at home after work? Sometimes I’ll play some PlayStation, otherwise me and my partner will have a movie night.
What’s your favourite thing about your home?
The bathtub. Throw in a bath bomb, grab a book, put on some music. Heaven!
Where did you buy your first home?
Whitstable in Kent.
What advice would you give a first time buyer?
Don’t forget to think about the future. Everyone sees a house they like and dives right in, and that’s great. But what are your long-term plans? If you are buying with shared ownership, will you want to staircase? If so, ask about staircasing early on. Think about how long you want to live there. Will this be your forever home, or just a stepping stone?
What are your views on shared ownership?
As someone living in a shared ownership home, I do think it’s a lifesaver (at the risk of being overdramatic). Me and my partner wouldn’t have been able to afford to own outright for years to come. But shared ownership has helped us get on that ladder and out of private rentals.
What are your views on staircasing and resales?
New build shared ownership gets a lot of attention, whereas resales are the Cinderella. They are there, but often get overlooked. A resale can be the perfect fit for a person, especially if they don’t like how identical new builds can be. Resales have a lot of character. People tend to forget that staircasing exists, or have no idea about it, but it is there, and it is designed to help you become a full homeowner. You cannot have shared ownership without staircasing.
