First Time Buyer – April/May 2019 by The Ultimate Guide Company

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY April/May 2019 £3.95 firsttimebuyermag.com

MODULAR HOUSING: WHAT'S IT ALL ABOUT?

WIN!

TOP FURNITURE BEDROOM STORAGE WORTH £690

DISCOVER HOW MUCH DEPOSIT YOU NEED IN FTB HOTSPOTS

SMALL SPACE GARDENING

“Educate yourself on what is available and do plenty of homework and research before you start” Nicki Chapman

04>

Radio and TV presenter

9 771758 973014

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EDITOR’S LETTER

E D I T O R I A L – 020 7258 0036

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk Editor LYNDA CLARK lynda@firsttimebuyermag.co.uk Editorial Assistant DAWN HARKER Creative Director RYAN BEAL Sub Editor KAY HILL Social Media DAWN HARKER Contributors DAVID BLAKE, CHRIS CLARK, DEBBIE CLARK, ADAM CRAWFORD, DAWN HARKER, KAY HILL, BREAN HORNE, IZZY MACPHEE, LAURA DEAN-OSGOOD, DONNA PILCHER, LESLEY PRICE, GINETTA VEDRICKAS A D V E RT I S I N G – 020 7258 0036

Director of Advertising/Exhibition Sales LYNDA CLARK

lynda@firsttimebuyermag.co.uk Special Events EILIDH MACLEOD – First Time Buyer Home Show – First Time Buyer Readers’ Awards boom@squarepegmedia.com

Welcome It seems to have been a very long winter but there are signs that spring is just around the corner. I am sure that many of you are keen to start searching for your first home and this is certainly the right time of year to begin looking. This is a real bumper issue and packed full of information and advice. If saving for that all-important deposit is proving to be very hard, then turn to page 24 where we highlight some of the major first time buyer hotspots where you can buy through shared ownership or Help to Buy, which only require a 5% deposit. Modular homes are basically built off-site and are becoming more and more popular. It’s an exciting and efficient way of creating more homes which we desperately need, so turn to page 30 for an insight into this new way of construction. Our recent FTB Home Show at Stratford Town Hall was a huge success and it was great to see so many first time buyers who were all eager to find how they can get on the property ladder come along on the day to talk to the property experts. For any prospective buyers living in the North West, we have another Home Show on 7 September at Manchester Metropolitan University, so do go to ftbhomeshow.com for more details and to register. Our FTB Readers’ Awards 2019 are now in full swing and thank you to everyone who has taken the time to vote. There is still time left to cast your vote, so please go to ftbawards.com. Our Awards are a real celebration of the very best in the property market and your votes mean so much. Until next time, happy house hunting

Accounts DAVID SELF david.self@ultimateguidecompany.com

It was the magazine’s 10th birthday and we had a wonderful celebration to mark this great milestone. We held a party and enjoyed a super evening where we toasted the success of First Time Buyer. TV celebrity Nicki Chapman, who is our host at the Awards this year, kindly came along to enjoy the festivities too. We thank everyone for all their fantastic support and look forward to a very successful future.

Managing Director SARAH GARRETT sarahg@spmgroup.co.uk Public Relations RACHEL COLGAN rachel@building-relations.co.uk SUBSCRIPTIONS 020 7258 0036 SWITCHBOARD 020 7258 1777 FAX: 020 7258 1787

firsttimebuyeronline EDITOR’S PICKS…

THE ULTIMATE GUIDE COMPANY LTD, 37 IVOR PLACE, LONDON NW1 6EA All advertising copy for June/July 2019 must be received before 10 May 2019. Send all copy to: lynda@ firsttimebuyermag.co.uk The content of this publication, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior permission from the publishers. Opinions expressed in First Time Buyer magazine are not necessarily those of the publishers. © The Ultimate Guide Company Ltd 2008-2019. The Ultimate Guide Company Ltd t/a First Time Buyer magazine will take no responsibility for any loss/ claim resulting from a transaction with one of our advertisers/media partners.

@firsttimebuyer

To achieve large volumes of building, while still maintaining quality, we needed to innovate

Fiona Fletcher-Smith, Modular Housing, Page 30

We’ll be taking time to explore and get a feel of what it would be like to live here

Sarah Evans, House hunter, Page 16

An important rule is that property is a medium to longterm investment Jeremy Marcus, Developer’s Doctor, Page 18

It is important when selecting a conveyancer or solicitor that you check who will be handling the case I’m living proof that it’s never too late to find your happy place in London in your 40s

Pauline Evans, Agony Agent, Page 116

Allison Cristina, Real Life, Page 64

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CONTENTS

Cover photo © Edward T. Cooke, WMA

APRIL/MAY 2019 / ISSUE 76 / FIRSTTIMEBUYERMAG.CO.UK

What’s in… 57

For sale

Allison Christina moved to the UK five years ago. After being priced out of her rented flat on Upper Street in Islington, she then discovered she could buy her own home through Hyde New Homes’ shared ownership scheme at the Packington Square development in her favourite part of town.

HOMEPAGE

FEATURED

9 FTB Loves...

20 The View: Nicki Chapman

A round up of our favourite hot buys.

10 Living Give your home a refresh this spring with the latest striking geometric shapes and brilliant colours.

12 Pot Luck Gardening expert Victoria Perselli explains how to get started as a first time gardener in small spaces and on a limited budget. Plus, our roundup of some special garden-themed products to green-up your life.

14 At home with... Craig Rowe TV presenter Craig Rowe has a real passion for property and has bought and renovated three London homes and is currently in the middle of his biggest project. He talks to Lynda Clark about his first home, his passion for DIY and gives some excellent advice for first time buyers.

16 House Hunter We try to find Sarah and Dion Evans a one or two bedroom apartment in east London.

18 Developer’s doctor Jeremy Marcus, Sales and Marketing Director at developer Higgins Homes PLC, answers your property question.

TV and radio presenter Nicki Chapman is well-known for presenting Escape to the Country and Wanted Down Under. Her latest shows, The Great Gardening Challenge and Talent Show Wars will soon be on our screens on prime time for Channel 5. She talks to Lynda Clark about her interesting career, her new programmes and gives some very useful advice for getting on the property ladder.

30 One to watch out for – Modular Housing Just what is a modular home? Debbie Clark discovers what this new way of creating homes is and what impact it will have on the first time buyer market.

24 Saving time Where you’re buying makes a big difference to the deposit you’ll need, but statistics don’t tell you the full story. Izzy MacPhee looks at the first time buyer hotspots around the country.

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CONTENTS NICKI CHAPMAN, PAGE 20

OLDER PROPERTIES ARE FULL OF CHARM AND CHARACTER BUT IF YOU LOOK AT THE PROS AND CONS WHEN MONEY IS RESTRICTED, MOST PEOPLE HAVE LITTLE TIME TO DO RENOVATIONS OR SERIOUS DIY

Nicki Chapman

REGULARS

buyer

READERS’ AWARDS 2019

discovers if it is the right time for first time buyers to take advantage of the many deals and incentives on offer.

First Time Buyer Readers’ Awards 2019 A chance to view the shortlist of all the different categories, plus details of how to cast your allimportant votes.

ftbawards.com

107

Competition Win! A Top Furniture Toulouse chest of drawers and two bedside tables worth £690.

34 Hotspot

116 Agony Agent

We look at the benefits of Liverpool as a place to live.

All your property questions answered by our panel of experts.

52 Your legal questions answered

119 Buyer’s Guide

Lesley Price, Head of New Homes & Shared Ownership at Lawcomm Solicitors, explains what key things you need to look for when reviewing documentation for your new build home and what the pitfalls can be if it isn’t done properly.

54 It’s time to talk life insurance

Check out FTB’s Buyer’s Guide, which walks you through the property buying process.

124 Who can ‘legally’ help me buy my first home? Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, looks at alternative ways to buy a first property.

Brean Horne, an insurance expert at Which?, explains how life insurance works and why it matters now.

127 Directory

108 Food

134 Spotlight on...

We test out the best Easter eggs from the UK’s leading supermarkets.

We talk to some of the key players in the property world to get their views and ideas of how to get on the ladder and this issue we speak to Karl Hick, Chief Executive Officer, The Larkfleet Group of Companies.

110 Mortgage Clinic David Blake of Which? Mortgage Advisers answers your mortgagerelated questions.

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

112 Finance Kay Hill looks at why mortgage applications fail and asks the experts for advice.

114 Market With doom and gloom surrounding the economy, Ginetta Vedrickas

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LETTERS

Mailbox WHERE DO I START? I have been browsing properties on my phone for what feels like a lifetime. I’m finally ready to buy but I don’t really know where to start in the real world! Do I need to go to estate agents or can I just email them when I find a house I want to view? Should I be doing anything else? Sian Brown FTB: The fact that you have been keeping an eye on the market is really positive and hopefully you have picked up on any local trends – are the houses you are interested in selling quickly? Do they sell for the asking price? In this digital age, it is perfectly possible to only look online, however it is not advisable. Many properties sell without ever even appearing online, so it is worth taking the time to introduce yourself to local agents and let them know what you’re looking for so they can contact you if they have a new home available. Be friendly and make sure they know you are a serious buyer. Since you are already using your phone to search for properties, it is also worth setting up alerts for your preferred areas – this way anything new on the market will drop straight into your inbox and you can register your interest promptly.

This issue’s star letter receives a Judge frying pan, worth £28. The 24cm frying pan is part of the popular Radiant range of cookware, now available in black. The pans are not only stylish, but carry a 10-year non-stick guarantee and are suitable for all hob types. horwood.co.uk

DO WE NEED A BROKER? My husband and I are looking to buy our first home. We have an agreement in principle from a high street bank, but friends keep telling us we need a broker to get the best interest rates. Am I missing something? We don’t want to be paying out more for something we can do ourselves. Owen Jones FTB: Approaching your bank is a good starting point and will give you a good idea of how much you are able to borrow. Banks only

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

DECLARATION OF TRUST My parents have kindly offered to gift me a 10% deposit so I can buy a property with my fiancé. They have, however, said we must get a declaration of trust drawn up to protect this investment. This isn’t something I really understand. Can you explain? Hannah Williams FTB: A declaration of trust is a legally-binding agreement which records the financial agreement between joint homeowners. While not hugely romantic, it is a very sensible move, as it details what will happen if you choose to sell your property in the case of a relationship breakdown. It is used to clarify the percentage of the deposit each person will pay, the percentage of the property each will own and how much each will contribute to the mortgage and any fees. It also details what proportion of sale proceeds each owner receives in the event of you selling the property. Presumably, in this instance, your parents want to ensure your deposit is ring-fenced – but it is worth clarifying this with them. A declaration of trust can easily be drawn up by the solicitors conducting your purchase and while it obviously involves a fee, it is well worth the peace of mind and to avoid prolonged legal disputes over finances in the case of a split.

SELF-EMPLOYED

advise on their own products, so there is a lot of research to be done if you want to get the best deal. A broker is a qualified and regulated adviser who should be able to quickly source a product to meet your needs and may have more clout in negotiating with lenders. Many brokers are feefree, as they make their money through receiving a procuration fee from the lender. A few lenders offer direct-only mortgages to customers, so you may still want to check these to be sure you are getting the best deal.

I am hoping to buy a property in the next few years and am on track with my savings. However, I’m self-employed and all the mortgage calculators seem to assume a steady monthly income, so I’m not entirely sure how much I will be able to borrow. I am growing increasingly concerned that I’m going to struggle to get a mortgage despite working hard to be in a good financial position. Help! Jenny Foster FTB: The bad news is that getting a mortgage when you are self-employed is particularly tough. The good news is that you have realised this early and left yourself time to gather everything you need to maximise

your chances. Self-certification mortgages are a thing of the past, having been banned in April 2014, so you will need hard proof of your earnings. Ideally, lenders want to see three years worth of business accounts signed off by a chartered or certified accountant. If you can’t provide this, your tax returns are the next best option. It is important to remember that lenders are looking at your profits, not turnover. Assuming your business is well-established, it is certainly do-able and a good broker will know who is most likely to lend given the evidence you are able to provide.

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

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FTB LOVES

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

Dining with Denby

Denby is an iconic British brand, and its high-quality products certainly stand the test of time. Its most recent range, New Studio Grey, mixes urban design with an artisan finish. We love this new range as it is simple and uncluttered, and this chic and stylish collection would look good in any kitchen. Plus, like all Denby products, the range is dishwasher, oven, freezer, and microwave safe, and has Denby’s 10-year guarantee. New Studio Grey collection,, from £7, Denby johnlewis.com

Cleanin t c a p m Co

sn’t mean having Having a cosy kitchen doe e. Hotpoint’s anc form per on e mis pro to com hers is perfect was dish new range of slimline t design still pac com The ces. spa ller for sma , and thanks to ngs setti e accommodates 10 plac technology, you get Hotpoint’s 3D Zone Wash le saving on space. whi n the best possible clea considered the needs has t poin Hot how We love grammes to suit pro g udin of all families by incl compromised on n’t has it that and e, hom every size. on n dow quality when cutting 9.99, £41 her, was dish line slim t Hotpoin Hotpoint hotpoint.co.uk

Mar l lo Murave ls us

Buying your firs t propert exciting y is so , and th ere’s no the feeli thing lik ng of de e corating home. W your firs alls are t the perf to show ect plac case yo e ur creati don’t ne vity, a ed an impa to be Picasso to nd you ct. These make la covering s from M rge-scale wall u are a st rals Wa rikin llp room. W g way to deco aper rate a ith them es from to Mexic Bauhau an s design th a, you are sure to find a at reflec ts your p New Yo ersonali rk skylin ty. e mural £36 per wallpap square m er, etre, Murals W allpaper muralsw allpaper. com

Super savings with smart thermostats

Who doesn’t love a gadget that can save you money and reduce your carbon footprint? Radbot is Vestemi’s energy saving smart radiator thermostat that is easy to install yourself. Using AI technology, the Radbot monitors the usage of the room where it is installed and adjusts the temperature to match. When you’re out of a room the Radbot reduces the temperature, and starts to heat it up in time for it to be warm when you return. Trials have shown that customers can save around 31% – or £180 off an average annual heating bill – by installing the Radbot. Radbot, £64.99, EDF edf.com

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Homepage LIVING

The shape of things to come

Geometric wire light, £20; minimal Geo panel duvet set, from £12; Geo triangle cushion, £6; Geo mono cushion, £6; pom-pom throw, £20, George Home

Use bold geometric designs to add the wow factor to your room. Mixing these eye-catching shapes with brilliant colours makes your home inviting and appealing Flora ocean armchair, £395, Oliver Bonas

£50 Block print rug, from £50, Next

£29.

Rug, £180, John Lewis and Partners

Geo triangle cushion, £6; cross stitch cushion, £7; grey quilted cushion, £7; black bulb floor lamp, £28; matte vase, £6; wire house tealight holder, £3, George Home

Pasta bowl, £4, Sainsbury’s

Spot ceramic vase, £29.50, Marks and Spencer Salad bowl, £8.50, Argos

C ON TA C T S » Argos argos.co.uk » George Home george.com » Homesense homesense.com » John Lewis and Partners johnlewis.com » Matalan matalan.co.uk » Marks and Spencer marksandspencer.com » Next next.co.uk » Sainsbury’s sainsburys.com » Very very.co.uk

First Time Buyer April/May 2019

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Homepage LIVING Patterned plant pot, £7.99, Homesense

Luxury 12-piece dinner set, £35; set of three dishes, £16; set of four pasta bowls, £17; 16-piece cutlery set, £26, Argos

Circle mug,, £5, Marks and Spencer Light, £89.99; cushions, from £16.99; sofa, £1,099; baskets, £34.99; rug, from £59.99; firepit, set of two baskets £59.99; artificial plant, £12.99, Very

£12

Set of two storage baskets, £24.99, Very

Grey woven throw, £30; glass hurri cane lantern, £25; large agave in pot, £50; Llam a planter, £10; medium metal cut out planter, ter £22; small metal cut out planter ter, £20; bamboo lantern on legs, £18; m textu red cushion, ion £12; metal and glass Coral crea jewellery stand, displ box, boxBonas £20; dotty duvet cover, from £10; £26, ay Oliver Elephant cushion ion, £8; white frayed edge cushion, £8; grey pom-pom throw, £18, Mata lan

Cushion,, £12, Sainsbury’s

Set of three mirrors, £20, Next

Pack of three hexagon shelves, £14, George Home

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Homepage LIVING

Pot Luck!

When it comes to starting your first garden, you can afford to take pot luck, says Victoria Perselli

Buying your first home is likely to be pretty time-consuming; chances are it’s also the most expensive purchase you have ever made – so quite stressful as well. But becoming a first time gardener doesn›t have to be any of these; in fact, it’s one of the few household activities that you can do purely for fun. The last thing you want when moving into your new place is yet more items on that stuff-to-do list. And when thinking about ways to make your new home warm and welcoming, neither do you want a shopping list that eats into your carefully worked out household budget: cheap and cheerful is the best way to go.

Here you can see how one baby plant (given to me by a friend), placed in a handful of soil and gravel in an old terracotta pot and watered about once a month (no kidding), has developed into a garden-in-miniature (picture 1). Add another upturned pot underneath and suddenly you have a garden ‘feature’, of the kind much-loved by garden presenters on the telly (picture 2).

So, what kind of plants might fit the bill for the first time gardener who doesn’t fancy plunging headfirst into the compost heap? Like many people, my experience of becoming a garden owner didn’t actually start with a garden. Instead it involved a row of supermarket herbs, spontaneously stuffed into yogurt pots on a sunny windowsill. These provided much-needed greenery and something instant to pep-up a sandwich or sprinkle on to salad or soup. From here I progressed to my very first bay tree, in a proper pot, strategically situated in a shady corner outside the back door... But all that was before I discovered succulents – my go-to recommendation for first time gardeners everywhere.

Picture 1

Picture 2

This plant will sit outside over the summer months and come indoors for the winter (most succulents are not frost-hardy in the UK). So, no need of land, tools or prior experience (I use an old steak knife and a kitchen fork for weeding and repotting). Plus, I now have choices: this plant can remain as-is – with the larger plants arching elegantly over the sides – or I can break pieces off to pass on to my keen gardening neighbours. Alternatively, I might dismantle the whole plant and repot each section individually to make festive gifts for family and friends – it really is that simple!

Victoria Perselli is truly a woman for all seasons! She has been a classical musician, academic, fiction writer and published poet. Her enduring passion is horticulture, and she has been researching, growing, photographing, cooking and eating plants since her early childhood in sunny Devon. Victoria is particularly interested in experimenting with new gardening techniques, especially as a positive response to the changing environment and the Royal Horticultural Society’s Greening Grey Britain campaign. Here she provides some easy ways to get started as a first time gardener – even in really small spaces and with a limited budget to spend

J U S T R E M E M B E R T H AT

 Succulents store moisture in their fleshy leaves and can be killed by kindness - so don’t over-water!  They need good drainage – a half-andhalf mix of soil and gravel is good.  If they discolour or shrivel up, move them to a different position. Succulents can tolerate quite low light-levels, so a bookshelf or bathroom may work well.  Protect surfaces with a plate or tray underneath the pot (which should have at least one drainage hole; succulents don’t appreciate soggy bottoms). And there you have it: happy gardening!

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Homepage LIVING

We Dig Gardening

r All Living Walls fo

Gardening, whether you are planting some seeds, mowing the lawn, or just trimming the hedges, can be a relaxing way to spend a spring afternoon. Any type of greenfingered fun is a great way to revive your garden and invite nature into your new home, especially if you think of it as exterior decorating. With some simple tips and great tools, you can create the perfect green haven

You don’t need to have a massive garden to bring some greenery into your life. You can use it on your balcony, in your kitchen or even on your fences. Dobbies easy-touse living wall planters, which can be used inside and outside the home, create a stunning living wall of colour. Simply line the planters along your garden fence or even on your balcony to create a green space that is easy to maintain. Otherwise, keep it indoors and make a kitchen garden with all your favourite herbs and spices to hand. Living wall planters, £9.99 each, Dobbies dobbies.com

Nature Lovers Gardening really might not be your thing, and whether it is as simple as a window box full of herbs or maintaining a garden it may not be your forte. You can still leave your friends and family green with envy though with some botanically inspired decorations. This leaf rug from Sass and Belle is a great way to have fabulous foliage in your home without needing to get muddy fingers at all! Leaf rug, £25, Sass and Belle sassandbelle.co.uk

Family Fun Gardening should be fun, so getting the whole family involved can be a great way to spend time together. Teaching your children about nurturing a plant and how to take time to water and care for something is a great way for children to take responsibilities and watch as nature does its job! Plus, watching your plants grow together is amazing. These Mr Men and Little Miss seed packets are great for encouraging your children to take part in gardening at home. Mr Men and Little Miss Seeds, £1.99, Dobbies dobbies.com

Beginner’s Gardening Kit Every gardener is only as good as their tools! However, if you don’t know where to start or you’re just beginning to get into gardening, you won’t want to splash out a fortune on tools. The Everyday Kit Company has created the perfect starter set for those who want to get into gardening without breaking the bank. With stainless steel hand tools, gardening gloves and practical gardening accessories, it is the most comprehensive cost-effective starter kit for a budding gardener. The Beginner’s Gardening Kit, £47.99, The Everyday Kit Company everydaykits.co.uk

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At home with:

Craig Rowe

Craig Rowe is a TV presenter who is best known for fronting shows on QVC and the BBC. He has also presented on ITV’s This Morning, the Discovery Channel and Sky Travel. He has had a real passion for property and has bought and renovated three London homes and is currently in the middle of his biggest project yet. He has helped friends and family in searching for, negotiating and then transacting a property purchase. He happily tells them, “I will be your real-life Phil Spencer!” He talks to Lynda Clark about his first home, his love of travelling and gives some excellent advice for first time buyers

FTB: Tell us about your first home CR: I bought my first home in 1999 in Harlesden in north west London. I had always been determined to buy in my mid-20s as I had been to university, lived in various house shares and also I went travelling for a long time and I really wanted my own roots! I was working in production for the BBC, behind the scenes and at weekends I was a tour manager taking groups of people round Europe. When I first started house hunting I wanted to live in Kensal Green but it was too expensive, so I decided to take a look at Harlesden instead which was more affordable. I found a one bedroom place but then a friend from the BBC asked me how I got on with my sister and I told them I had a

“SAVE LIKE A CRAZY PERSON AND BE PREPARED TO MAKE SACRIFICES. EXPENSIVE DINNERS, EXOTIC HOLIDAYS ARE ALL GOING TO COST MONEY”

great relationship with her. He then suggested we should think about buying together and then we could go for a two bedroom home. It was great advice and we bought together and it worked out really well. It was so much easier living with a family member as we could be honest with each other, unlike living with flatmates where you have to be careful what you say all the time. We lived there together for about four years and then she decided to move back to Bristol which is our home town. I remortgaged and bought her share and lived there for about 15 years, and I still own it and rent it out. FTB: What did you particularly enjoy about living in your own home? CR: I fell in love with DIY and I really enjoy any kind of home improvements. When you work on your own home it is for you and you take great pride in it. I did all the usual things like go to IKEA to shop for floorboards and furniture, and the house looked really good. FTB: Where did you move to next? CR: I bought a Victorian conversion which was a ground floor flat. I actually bought it from the freeholder who was moving back to Jamaica. He obviously had a very different taste to me as he was a 60-year-old man, so it looked very dated. I modernised it and opened up the kitchen and changed the outside space and landscaped it as well. FTB: Tell us about your career? CR:I studied European languages

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Homepage LIVING

“YOU MIGHT HAVE TO COMPROMISE ON THE AREA YOU WANT TO LIVE IN, BUT THINK OF THIS AS POSITIVE AS YOU WILL HAVE TAKEN THAT FIRST STEP ON THE LADDER” and Business at university and originally wanted to be a translator. I love different languages and speak French, conversational German and I have just started learning Spanish as this has been a lifetime ambition for me. I also always thought that being a performer or actor would be great fun, but as my course was very academic I let the more creative side of me go. I love travelling, and took a year to go around Australia, Thailand, Singapore, the USA and Jamaica – I am half Welsh and half Jamaican. Channel 4 then advertised that it wanted a new presenter and it brought back all my ambitions of wanting to be a performer, so I applied and was shortlisted to the final 10. I didn’t get the job but it was a great experience and the start of a new chapter in my life. I started work in production for the BBC and worked my way up from production assistant in the studio and on location, to promo director, live gallery director and producer and production manager. I also led hundreds of workshops on TV training for BBC new recruits. In my spare time, I used to practice and do little clips of myself which ended up as a showreel, which I sent to producers and production companies. I was lucky as a friend who was a casting director was

looking for somebody for a new channel called BroadbandTV and I started working there in 2004. From then on, I haven’t looked back and have worked on many different shows. FTB: Where do you live now? CR: I bought a place which was a converted steel works in Harlesden and renovated it and then sold it soon after. It was never really my home as I rented it out, but I did make a small profit on it. I then bought an ex-local authority 1970s two bedroom maisonette in SE1 and I have been renovating and modernising it. It was quite compact, so I have opened it up inside and it looks amazing! It is on the first co-operative estate in Southwark and the residents all have a say in what we do, so it is very progressive. FTB: What are your plans for the future? CR: At the moment, I am very focused on finishing renovating my home, which has taken longer and cost more than I originally planned for. I am hoping to go to Japan this year and will continue with my television work; I love working for QVC which is great fun and feels like a big family. I would also love to combine my love of property, travel

and presenting, so my agent and I are busy working on various opportunities. You never know, I may buy another property and start renovating it – it’s quite addictive! FTB: What advice do you have for first time buyers? CR: You might have to compromise on the area you want to live in, but think of this as postiive as you will have taken that first step on the ladder. Consider buying with somebody like I did with my sister, especially if finances are tight, but it is absolutely essential to make it legal and get the proper agreement drawn up by a solicitor. Save like a crazy person and be prepared to make sacrifices. Expensive dinners, exotic holidays are all going to cost money – I remember my friends and I used to go out dancing and drink water all night – I had a great time and didn’t spend anything! I had three jobs at one stage in order to get enough money together but looking back I wouldn’t have changed anything as it helped me achieve my end goal. Finally make a plan, try to take the emotion out of it and stay focused – you’ll get there! craigrowe.net

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Homepage FIRST RUNG

The

HOUSE HUNTER

What we found… THE UP-AND-COMING Pontoon Reach Royal Docks

FROM £315,000

THE ICONIC LOCATION Able Quay Millharbour Isle of Dogs

FROM £115,000*

This month FTB goes on the hunt with Sarah and Dion Evans who are after a one or two bedroom apartment in east London

PROFILE

Names Sarah Evans, 38, and Dion Evans, 42 Occupations Gym manager, teacher Maximum budget £400,000 Requirements A one bedroom home in east London, with a balcony or garden, good transport links and plenty of local amenities.

What they wanted… Sarah and I have lived in east London for almost 10 years. We met when we were both renting separately with friends and then moved into a small flat in Bow two years ago. We really love this area and can’t see ourselves living anywhere else. Our friends are here, we’re close to work, and we just love the vibe. We’ve seen areas such as Bow and Hackney really bloom in the past decade, which has been great – but we’ve also watched the property prices rise, too, and have often thought we were priced out! However, we know that there are definitely apartments out there that will fit with our (relatively) moderate budget. As much as we’d like to stay in the Bow part of east London, we are happy to consider areas within around a five mile radius. It’s really important for us that we’re both close to our workplaces and that we can get around easily on public transport – other than that, we’re quite open to suggestion! Our budget is around £400,000.”

Part of a vibrant new community at Royal Docks, a collaboration between Peabody and Redrow has created almost 300 new apartments, set within a landmark 13-storey building, and surrounded by landscaped gardens and cycle paths. Homes range from studios to three bedroom apartments, all with private balconies. Thames Barrier Park is a short stroll away, along with increasing numbers of local shops and businesses. From nearby Pontoon Dock station, DLR services to central London take less than 20 minutes.

Occupying a prime riverside location with views of Canary Wharf, this new development will soon be home to hundreds of stylish new apartments, with 28 available through shared ownership. The interiors are sleek and contemporary, with private balconies overlooking the area. Canary Wharf, with its shopping centre, bars and restaurants, is a 10-minute walk, while Greenwich can reached via the foot tunnel. Jubilee Line and DLR services make travel into central London very quick – getting to Bond Street takes just 15 minutes.

redrow.co.uk

nhgsales.com *Based on a 25% share of the full market value of £460,000

What they thought… We really like how close these apartments are to the river – it’s a great location. It is only a few miles from our current home in Bow, so really not too far at all – and with the DLR station so close, it would be so easy to get around. We also really like that it’s so easy to get to south London from here, too. We’ve always loved Greenwich, and we can definitely see ourselves spending a few Sunday afternoons exploring the riverside and surrounding areas. Of course, the apartments are very stylish and look nice and spacious.”

This is another fabulous location with lots to offer; we love it! I think it would be great to live in this part of London – the Canary Wharf area tends to be a bit quieter at the weekends, which is just perfect for us. The apartments themselves are really lovely – those brand new kitchens would be a dream come true after years in tired rented apartments. The transport links are excellent, too, the Jubilee Line and DLR are both right on the doorstep, so we’d be able to get into central London and to work without any drama at all.”

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THE NEW COMMUNITY Bow River Village Bow

FROM £378,000

THE LANDMARK DEVELOPMENT Barking Riverside Barking

FROM £62,500*

Homepage FIRST RUNG

First choice! THE BEST OF BOTH

FROM £144,000*

Bridge East, Newham

These new homes by Southern Space are located in the heart of a growing riverside community. The one, two and three bedroom apartments enjoy a lovely spot along the banks of the River Lea, and all feature spacious, openplan living areas along with a private balcony or terrace. Getting around is easy with great tube, DLR and bus links a few moments away, while Queen Elizabeth and Victoria Parks can be reached quickly on foot. You’ll never be short of things to do, with the thriving locales of Bow, Stratford, Shoreditch and Hackney close by.

A major new project along the Barking stretch of the River Thames is set to create more than 10,000 new homes over a huge 443 acre site. The new district will include open spaces, shops, restaurants, schools and community facilities. The one to three bedroom apartments from L&Q sit within the Parklands Phase, which is fringed by plenty of green space. In 2021 a new Overground station, Barking Riverside, will provide access to central London in 22 minutes, while current transport links run to Barking for train and tube connections.

bowrivervillage.co.uk

lqpricedin.co.uk *Based on a 25% share of the full market value of £250,000

This development is only a few minutes from where we live at the moment, but we had no idea it was being built! It looks really great and it’s pretty exciting that we’d be able to stay in the same area that we’ve grown to love so much. It’s cool that this area is going to be put to good use with new homes. It’s a really convenient location for getting around, too – it is just so easy to get into town or further east. We can picture sitting out on the private balcony and taking in those river views – just lovely!

It’s quite exciting that an entire new district is being created, and it’s amazing to think that there’ll soon be all these new properties and businesses here. We’d be able to afford a two bed here, which is really great. There’s absolutely loads of parkland surrounding the homes, and we love that the Overground will be extending there, so commuting would be easy. The apartments are really light and spacious, and those balconies look huge! It is a little further out that we had hoped for but I think it’s a really great opportunity.

from this tford lies around a mile The vibrant town of Stra homes are The s. ent room apartm new collection of two bed Lea, so as er Riv the and er Back Riv nestled between the Bow of the Zone the many great amenities well as great access to lks are just wa e picturesque riversid 2 town centre, peaceful, communal a und aro properties sit a few moments away. The ary, with por tem con and k they’re slee courtyard, while inside . From ace terr leading to a balcony or open-plan living areas d tfor Stra to station, travel one stop Pudding Mill Lane DLR tral cen into s vice ser or District Line or Bow Road for Jubilee . ond bey London and peabodysales.co.uk e of *Based on a 30% shar

the full market value of

£480,000

THE NEXT STEP

“We have registered our details with the housing association, which is the first step, and we hope to be viewing a property very soon. We’ll be taking time to thoroughly explore the area and get a real feel of what it would be like to live there.”

We really like the location of Bridge East. It’s not too far from our current apartment, so we’d be staying close to the area we love – near to work and friends, but it also offers the best of both worlds. We love that the homes are close to the rivers as well as Queen Elizabeth Park – so there would be plenty of green open space and places to explore at the weekends. Stratford is also nearby. It’s a great town and there’s always lots going on, with so many fun restaurants, events, bars and concerts. The apartments are also really lovely – and we will have two bedrooms as well, which would be a huge luxury for us – it would be so great for us to be able to invite family to stay in the spare room.”

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ADVICE

Jeremy Marcus is the Sales and Marketing Director at Higgins Homes PLC. He has an extensive background in property and has seen many changes to the property market during his 20+ year career, including Jeremy Marcus, Sales the challenges that face first time buyers. He oversees all residential and Marketing Director, sales at White + Green, Higgins Homes’ new showpiece development Higgins Homes that sits between the underground stations of Whitechapel and Bethnal Green and comprises 144 apartments

Myself and my partner have finally saved enough money for a deposit, but we are concerned about whether we should invest in property in this political climate. What will Brexit mean for house prices and should we hold off a bit longer before buying?

It is impossible to escape Brexit and the consequences of the terms of Britain leaving the EU. While it is good to always do your research, it is also important not to get carried away with conjecture. The simple truth is no one knows what will happen because we’ve never been here before. However, looking at the way the property market has reacted statistically since the referendum in 2016 provides a way to interpret how it might in the future. To consider the health of the property market, take a look at sales in any given month. A lower number of sales can indicate market uncertainty, but according to HMRC’s most recent seasonally adjusted figures, there were actually more house sales in December 2018 than in the same month the year before. According to the Home Builders Federation, the new build market has remained strong in terms of transactions. Furthermore, the confirmation in the Budget of an extension to the Help to Buy scheme to 2023 will mean that even more first time buyers will receive the financial support required to get on the property ladder. Which is certainly good news for buyers when considering that renting is really ‘dead money.’ All across the UK, especially in London and the South East, there is a lack of supply in terms of new homes. Building work is increasing, but it is still short of Government targets and demand, which will mean if you are in a position to buy, property is still a good investment. When considering buying for the first time, the most important considerations are

if you can afford it, does it suit your lifestyle and is the area ripe for investment. At White + Green, transport options are excellent, and they will improve further with the coming of the Elizabeth Line/Crossrail. Journey times will be just two minutes from Whitechapel Station to Liverpool Street and seven minutes from Whitechapel Station to Tottenham Court Road. This will undoubtedly have a positive effect on the property market, and it will be especially beneficial for those who invest at the cusp

of new beginnings. Lastly, the number one rule when buying a property is that it’s a medium to long-term investment. So even if the consequence of Brexit is a short-term correction, prices are very likely to increase in the future. Long-term, over the past three decades, that has been the historical trend. And, given the ongoing demand for and undersupply of housing, especially in London, that’s unlikely to change whatever Brexit throws at us.

Situated between Whitechapel and Bethnal Green underground stations, offering excellent connectivity across the capital, White + Green is a development of four buildings comprising 144 apartments. This artistic area of London is bustling with markets, restaurants, cafes, shops and bars, making it ideal for young professionals and first time buyers. The development features studio suites, one bedroom, two bedroom and White + Green three bedroom apartments, together with commercial units located around a central piazza. Smart design will feature throughout, with high standards of specification to include inbuilt appliances and luxury hotel-style bathrooms with sanitaryware from leading manufacturers. For entertainment possibilities, buyers have the choice of a short trip into the centre of London or enjoying what’s on their doorstep. The area has a range of eclectic shopping opportunities, the lively Columbia Road flower market, restaurants, bars, cafes, gym and cinemas, plus there are more than 100 parks in Tower Hamlets as well as a city farm. Just a stone’s throw away are the creative hubs of Hoxton and Shoreditch with their numerous edgy art galleries, legendary nightclubs and cool coffee shops. White + Green is included in the Government’s Help to Buy scheme. Prices range from £415,000 to £840,000. For more information, visit higginshomes.co.uk/developments/white-plus-green call 020 8023 9883 or email whiteandgreen@higginshomes.co.uk

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THE VIEW

The brightest star!

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THE VIEW

Nicki Chapman first hit our TV screens when she appeared as a judge on Popstars and Pop Idol back in 2001. Since then she has been busy hosting a range of property programmes including the very popular Escape to the Country and Wanted Down Under. Her latest shows are for Channel 5, The Great Garden Challenge and Talent Show Wars which are both to be aired on prime time in the spring. She is also a regular presenter on BBC Radio 2 and will be reporting from the RHS Chelsea Flower Show in May. Lynda Clark met up with her to find out about her fascinating career and what advice she has for first time buyers

Photos: Edward T. Cooke, WMA

he glorious Nicki Chapman arrives looking radiant. She has been very busy filming her two new television series and as always has a hectic schedule, but you wouldn’t know it, as she is as always very enthusiastic and full of positivity. “We have no idea about what will happen after Brexit but we have to keep the faith and remain buoyant.” Her two new prime time TV shows are very exciting and will be aired soon on Channel 5. “The Great Garden Challenge is lots of fun and I am presenting it with Diarmuid Gavin. There are two sets of garden designers who create a garden from a brief they are given. For example, there is a garden for people with special needs, which had to be accessible and have things like sheltered seating and lots of sensory plants. They also created gardens for people who are partially sighted, a daycare centre, a hospital and the armed forces - they are all very different. They are then judged by two very experienced RHS judges, Mark Gregory who won Gold at Chelsea last year, and the incredible plantswoman and gardening expert Carol Klein. Whoever wins goes through to the next heat so it’s very exciting. The other show is called Talent Show Wars which is three, one-hour documentaries, looking back at all the different types of talent shows there have been over the years.” Nicki also has a brand new spin-off show with a working title, Escape To The Perfect Town. She explains, “It’s the same sort of formula as Escape to the Country but not everyone wants to live in the countryside so this is for people who want to move to a town. It’s a great idea and I am sure will be very successful.” Nicki went to school in Canterbury, Kent, and left with only three O-levels, which as she says, “is not a great start in life! I always got A for effort but C for achievement". Little did she know then how successful her career was going to become. She adds, “I worked hard at school but I just wasn’t academic at all, so I decided to do a business course at college. I thought it would give me good grounding in the workplace. After studying for three years, I decided to travel to Australia for eight months on my own. I loved the lifestyle there and decided to emigrate. While waiting for my visa to be processed I applied for three jobs in the music industry back in London and believe it or not, I was offered all three! Suffice to say, the lure of the music world stopped me from moving down under! I decided to accept the job that was best suited for me and basically worked my way up through the music industry. My first job was as a promotional assistant at MCA records, moving to RCA records as head of TV promotions. In 1995 I became a joint partner in the Brilliant PR Company and represented the Spice Girls, Kylie Minogue, Take That, Phil Collins, David Bowie, the Brit Awards and The Big Breakfast to name a few. In the past,

I had worked with Simon Fuller who represented Annie Lennox and the Spice Girls and decided to join his management company, 19 Entertainment in 2001 as Creative Director. I suppose my real rise to fame was when I became a judge for the ITV series Popstars and Pop Idol, In fact, Pop Idol was the top rated TV show in the UK in both 2001 and 2003. It was the most amazing experience and something I will never forget. It really did change my life.” Nicki has always been passionate about property and has fronted plenty of different programmes, but is best known for the very popular series Escape to the Country and also Wanted Down Under. “It’s not about going on holiday, but finding the ideal home in a new country on the other side of the world. Obviously it means a complete change of lifestyle and we aim to show the prospective buyers what life could be like for them. We look at the work situation, the culture, the heritage, the food and the legal implications as well. It means they will be facing a huge change, so we road test it with them to find out if moving to Australia or New Zealand is really for them.” Nicki also presents a TV show called I Escaped to the Country, and revisits the people who bought and moved into one of the properties the original show found for them. She has made a couple of documentaries in the past, Britain’s Home Truths, which she filmed for BBC1, exploring the people and planners developing new towns and garden cities. “The first new town was Letchworth, and I also visited Herne Bay, my home town, which surprisingly was one of the first Victorian new towns to be designed, which I never knew!” She also filmed another documentary called Operation People Power for BBC1 with Dave Myers, who is one half of the Hairy Bikers. It looked at volunteering and the difference a community working together can make. Not only was it an incredible experience to film and see these major changes happening before our eyes, it also galvanised me into working as a volunteer when I returned back home. I’ve been involved in charity work over the years, but had never actually volunteered on a one-to-one level. Being part of this series made me realise that we all have something unique to offer, be it an hour a week or a day a month. I now volunteer at the Mary Portas Living and Giving Charity Shop.” Nicki, with her love of property, bought her first one bedroom apartment in Putney for £69,000 in her early 20s. She said, “It has been my biggest regret that I sold it, as now I’m sure it would be worth a small fortune. At the time I had just started in the music business and lived in really cheap digs with seven other people. I had a very small room but I managed to save up for a deposit and decided to get a repayment mortgage. Every time I had some spare cash, I’d try to pay off a little of the mortgage, chipping away at what

"YOU HAVE TO BE TRUTHFUL WITH YOURSELF AND SAVE WHAT YOU CAN AFFORD, AS IT WILL BE WELL WORTH THE SACRIFICE IN THE LONG RUN"

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THE VIEW I owed. The apartment was a brand new conversion and I bought it in a real dip in the property market. I loved the fact that everything was brand new and I starting out with a blank canvas. There was no building work to be done and so no financial outlay, which suited me and my budget very well. I would buy a new build again if I was starting out, as if you have no experience of DIY, or like most first time buyers are on a limited budget with little experience, it removes the stress and won’t end up costing a fortune. I sold it a couple of years later for £79,000 so I think I did quite well. I decided to sell it in order to get enough for a deposit on a four bedroom house in west London, which I was buying with my husband-to-be. At that time prices in London were booming. The surveyor that we used said that as we were buying at the top of the market the house wouldn’t be an investment. I told him we were buying a home, not an investment! We bought the house from a wonderful gay couple who, I have to say, had the most wonderful taste – the house was immaculate. When they moved out it was in perfect decorative order, they had even taken pictures off the walls and had filled in the holes and repainted them! We spent about £12,000 doing things like painting the outside and landscaping the garden. After a few years, we decided to move. Even though we are still very near to central London, the area we live in now is like living in a village, with plenty of restaurants and independent shops. We found our current property through a high-end developer who had just bought it. The property was divided into two flats and was basically a ruin. He had planned to do it up and sell it six months down the line but we fell in love with it even though it was a wreck. We decided to buy it there and then, and asked him to continue with the renovation. We had a vision of how it would look and working together with the developer, the project was a real labour of love. We literally pulled it apart, making adjustments along the way. Although the outside is Edwardian, it is very contemporary inside and is now a single, large five bedroom house. We knocked out the wall at the back of the property, extending the downstairs into the garden area, making the kitchen/living room a huge open-plan space. To finish the look, we replaced the wall with huge bi-folding glass doors letting in plenty of natural light and making it feel like you are already in the garden. As I present the RHS Chelsea Flower Show for the BBC, I’ve become fascinated by the gardens there, and have gained some real inspiration on what you can achieve in a very small space.” Nicki is a great supporter of first time buyers and has been working closely with

"HOMES REFLECT YOUR PERSONALITY AND OWNING YOUR OWN SPACE IS A WONDERFUL FEELING. I LOVE HELPING PEOPLE DECIDE WHERE THEY WANT TO LIVE ON SOME OF THE PROGRAMMES I PRESENT, AS ANYTHING TO DO WITH PROPERTY GIVES ME A REAL BUZZ" the magazine helping to get more people on the ladder. We are delighted that she is hosting our First Time Buyer Readers’ Awards again this year. She said, “It is a very exciting time for first time buyers as there are so many more opportunities now than there have been in the past few years. Not everyone can buy, but once you do there is a great sense of worth and stability. I also think that buying through shared ownership us a very good option especially as you only need a 5% deposit. "Two of my family members have bought through shared ownership and it has made a massive difference to them. One bought in Kent and the other in Yorkshire. If the days of owning 100% of a home are gone, then it’s better to have a slice of the property than none at all. Owning your own home gives you stability and peace of mind for the future. It’s important to put down

roots in the community as well. It is so sad that often people are paying more in rent than they would pay for a mortgage. If you haven’t been able to save in the past you might struggle to pay the bills if you do buy. I don’t want to pour cold water on what is going to be the most important purchase of your life, but there is nothing worse than having to give the keys back to a much loved home if you can’t afford to live there. People are paying an astounding amount in rent, not just in London, but all over the UK. Paying rent can be seen as dead money. By learning to save and by being disciplined, getting together even a small deposit can make a huge difference to someone's life. “If you are looking to buy, make a checklist and follow it. Educate yourself on what is available and do plenty of homework and research before you start. So many people make decisions based on

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THE VIEW no factual evidence at all! It’s a good idea to go to property shows to find out what your options are in your area. Buying all or part of a property is a massive decision, so it’s well worth investing the time to look around different areas and what you can realistically afford. It is important to work out your finances, too. When saving you may have to curtail certain or all holidays for the time being, and perhaps postpone going to festivals, or maybe even buying a car. You have to be truthful with yourself and save what you can afford, as it will be well worth the sacrifice in the long run. If things get really tight then think about renting out a spare room. There are some excellent agencies that help to find people who only need to rent Monday to Friday, which means you get your privacy at weekends, so it can work out very well. If you can’t afford to buy on your own then consider buying with a trusted friend or family member. However, if you do decide to do this, then make sure you draw up all the proper legal documents before you enter into the partnership. “Homes reflect your personality and owning your own space is a wonderful feeling. I love helping people decide where they want to live on some of the programmes I present, as anything to do with property gives me a real buzz. Everyone has a preference when it comes to the look and style of their property. When looking at a first purchase I am a great fan of new build properties because, although the rooms might be smaller and the ceilings lower, you will have less maintenance costs, and as a first time buyer, every penny counts. Older properties are full of charm and character but if you look at the pros and cons when money is restricted, most people have little time to do renovations or serious DIY. With a new build you can just move in.” nickichapman.co.uk Twitter @Nicki_Chapman Insta: nickichappers Escape to the Country, BBC1 I Escaped to the Country, BBC1 Escape to the Perfect Town, BBC1 Wanted Down Under, BBC1 RHS Chelsea Flower Show, BBC1 Talent Show Wars, C5 The Great Garden Challenge, C5 Presenter, BBC Radio 2

"PAYING RENT CAN BE SEEN AS DEAD MONEY. BY LEARNING TO SAVE AND BY BEING DISCIPLINED, GETTING TOGETHER EVEN A SMALL DEPOSIT CAN MAKE A HUGE DIFFERENCE TO SOMEONE’S LIFE"

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DEPOSITS

Saving time

Where you’re buying makes a big difference to the deposit you’ll need, but statistics aren’t the full story, says Izzy MacPhee

uying your own home for the first time is dependent on putting down a deposit. The old days of a myriad of 100% mortgages are long gone, and while there may be a handful on offer, for the most part, lenders will not lend more than 90% of the full price of the property you are buying. Wherever you are living, 10% of the price is a substantial sum that will take a lot of time and commitment to save for. MyVoucherCodes has just published some research focused on the UK’s 63 largest towns and cities, investigating how long it could take someone in that area to earn enough for a 10% deposit on a property there, based on an average local property prices and salaries. Burnley topped the list and the North of England, Scotland and Northern Ireland dominate the top of the table. The bottom four, least affordable cities – all requiring over a year’s gross salary for that crucial down payment – are Brighton, Oxford, Cambridge and London. These numbers are based on earnings before income tax and National Insurance, rather than take-home pay, and, of course, they leave out every other expense, from food and drink to mobile phone bills, rent and rates. They do, however, illustrate just how much financial commitment is needed by anyone aspiring to homeownership who isn’t lucky enough to have the Bank of Mum and Dad or another generous gift to meet the deposit. KIS Finance recently questioned 1,000 adults and reported that 44% of over-25s questioned bought their first homes later than they predicted they would because they underestimated the deposit by some 56%. Another survey, from self-storage firm Space Station, looked at 1,000 young Britons currently preparing to buy a house and another 1,000 people who bought their home between 1988 and 1998. One-third of those saving now are struggling to put together the money they need, compared to just one in 20 back then. Thirty years ago the average

national house price was £45,000, which equates to £117,000 in today’s money. The average price now is around £214,000, nearly twice as much in real terms, and the proportion of those living with parents while saving has also doubled, reflecting today’s high rent prices. If it’s just your own income you’re relying on for your savings, then it’s particularly tough. Compared to its previous annual report, the latest English Housing Survey (2017-18) saw a dramatic drop in the proportion of solo homebuyers from 26% to just 16%. Nearly half of all 785,000 first time buyer purchases were by childless couples and nearly a third were couples with dependent children. However, today’s marketplace is not all doom and gloom for those wishing to buy their own first property. There are two wellestablished, Government-backed schemes – Help to Buy and shared ownership – where purchasers need significantly less than 10% of the full market value of a home. We take a look at some examples here.

W H AT I S H E L P T O B U Y ?

Help to Buy is a Government-backed equity scheme open to people with any income. It provides buyers with a substantial financial loan to cover part of the purchase price and only requires a 5% deposit from the buyer. There are variations of the scheme in Scotland, Wales and London, but they all work on the same principles as the main national version. The Government provides an equity loan (20% in England and Wales, 15% in Scotland and 40% in Greater London), which is interest-free for five years and only needs to be paid back when the property is sold. The buyer only has to secure a mortgage for the balance.

W H AT I S S H A R E D O W N E R S H I P ?

Shared ownership is also known as partbuy/part-rent, a great way to explain what it stands for. It gives someone the opportunity to purchase a proportion of their new home (typically between 25% and 75% of the full market price) and pay a discounted rent on the balance. A 5% or 10% deposit on a fraction of a home is considerably less than that needed when buying the whole thing and the scheme is available to people with a household income limited to £80,000 a year (£90,000 in London). It’s possible to staircase in the future, buying a greater share of the home as it becomes affordable to do so.

THE FUTURE OF HELP TO BUY

Find out more about the survey at myvouchercodes.co.uk/hard-work-homes

An extension to Help to Buy in England was announced in the budget in 2018, but there will be some significant changes to the scheme from April 2021. It will only be open to first time buyers, and the Government has also capped prices on a regional level, but it will still require a deposit of 5% and be providing a 20% loan (40% in London, where the price cap will remain at £600,000). It is planned to run to March 2023. Regional Help to Buy price cap (from April 2021) North West £224,400 North East £186,100 Yorkshire & the Humber £228,100 West Midlands £255,600 East Midlands £261,900 East of England £407,400 South West £349,000 South East £437,600 London £600,000

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DEPOSITS

Cambridge

Report ranking (from 63)

Average 10% deposit

£52,178

Average weekly salary

£609

Weeks to earn deposit

There is currently major housebuilding development taking place to the south of this globally renowned university city. Its history and wealth of culture sit side-by-side with thoroughly modern shops and amenities. It’s a hub in the East Anglia region, with many headquarters served by a major roads and rail services.

FROM

CAMBRIDGE

One bedroom apartment: £315,995 5% deposit: £15,800

Ninewells

CAMBRIDGE Eastfields

HELP

Located a couple TO BUY of miles east of the city centre, close to Cambridge International Airport, Eastfields is a Weston Homes development of 57 new homes, comprising one and two bedroom apartments and three and four bedroom houses. Complementing the chic contemporary architecture is an impressive standard specification, with nice touches such as an instant boiling water tap in the integrated kitchen, and "smart" showers and baths. These homes are just a 10-minute cycle ride from the city’s well-connected station. weston-homes.com/eastfields

Ipswich

Ninewells is on the southern fringes of Cambridge, and these SHARED affordable homes are OWNERSHIP a mix of one and two bedroom apartments in a very modern design, built by multi award-winning housebuilder Hill. Whether working locally or further afield, it’s very well connected, with an excellent local bus service and proximity to major sites such as Addenbrooke’s Hospital and Cambridge Biomedical Campus. The station is a 10-minute drive or a short bike FROM ride away and the M11 is only three miles away. One bedroom apartment: £120,000 for a 40% share (Full market value domovohomes.co.uk £300,000) 10% deposit: £12,000

Report ranking (from 63)

Average 10% deposit

£21,170

Average weekly salary

£506

Weeks to earn deposit

Suffolk’s county town has centuries of history and was one of the country’s major ports for many of them. It has undergone a lot of regeneration in recent years, including making its industrial dock into a popular residential and commercial area. It’s also very well connected by road and rail throughout East Anglia and to London.

FROM

Two bedroom apartment: £220,000 5% deposit: £11,000

Three bedroom house: £165,500 for a 50% share (Full market value £330,000) 5% deposit: £8,250

IPSWICH

Jasmine Park

LP Jasmine Park is TO BU Y a collection of homes on the north west edge of Ipswich, comprising apartments and houses. The first phase is already fully sold and Phase 2 is selling well. The apartments benefit from an allocated parking space and landscaped communal garden. The standard specification is a good one, with an audio entry system and choice of contemporary kitchen units with matching worktops and upstands. There’s a higher specification and even more choice with a three or four bedroom house. inlandhomes.co.uk

IPSWICH Ribban Park

The three bedroom townhouses at Ribban Park feature SHARED an open-plan kitchen/dining/ OWNERSHIP living area on the ground floor, plus a separate lounge on the first floor, along with the first of the three bedrooms and a family bathroom. The top floor has two spacious bedrooms, one with an en suite. Patio doors from the family room open on to a private rear garden and every home has dedicated parking. homereach.org.uk/ribban-park-ipswich

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DEPOSITS

Gloucester

Report ranking (from 63)

Average 10% deposit

£21,649

Average weekly salary

£526

Weeks to earn deposit

FROM

Four bedroom semidetached: £290,000 5% deposit: £14,500

Founded nearly 2,000 years ago, Gloucester today combines history and heritage with great upto-date qualities. The city offers excellent shops and leisure facilities, highly regarded schools, a beautiful docks area, and is served by very good road connections (including M5 to Worcester and Bristol) and rail services (London Paddington, Birmingham, Cardiff).

CHELTENHAM

GLOUCESTER

Taylors Yard, Cheltenham

Persimmon Homes is offering an impressive variety of homes at HELP Horsbere Mews, everything TO BUY from one bedroom apartments to five bedroom detached houses. Buy early enough and you can choose options or upgrade the standard specification to put your own personal touch on your home. There are good schools and open spaces close to the development, and it’s under two miles from the shops, pubs, restaurants and amenities of the historical and characterful city centre.

Gloucester City Homes is offering two bedroom apartments at Taylors Yard, within walking SHARED distance from Cheltenham OW NERSHIP railway station, which is a 25-minute walk from the centre of this much-admired town on the edge of the Cotswolds. This means that all its shops, eateries and range of places to relax and have fun are within very easy reach. For the short journey to Gloucester or longer trips to Worcester, Bristol and further afield, the A40 and M5 are close at hand. FROM

persimmonhomes.com

gch.co.uk

Horsbere Mews

London borough of

Bromley

Report ranking (from 63)

Average 10% deposit

£74,970

Average weekly salary

£727

Weeks to earn deposit

103

Two bedroom apartment: £96,000 for a 40% share (Full market value £240,000) 10% deposit: £9,600

London’s southernmost borough, bordering Kent and Surrey, accommodates many great benefits, for shopping, sport, schools and history to name a few. Public transport is particularly strong, with local bus and tram services in addition to its many rail connections into and out of the centre of the city.

FROM

One bedroom apartment: £330,000 5% deposit: £16,500

BROMLEY

ORPINGTON

St Mark’s Square

London Square Orpington

HELP

The first phase of this TO BUY development by award-winning developer London Square should be ready to move into in spring 2019. There are still a couple of apartments available in addition to the neighbouring luxury houses. Design and interior features are excellent, and there’s the possibility you can personalise some items. The style is matched by the peace of mind of great security features. Orpington has great facilities of its own and a journey of under 25 minutes into the city. londonsquare.co.uk

SHARED OWNERSHIP

St Mark’s Square is a collection of one, two and three bedroom apartments from Moat Homes, all with a spacious private balcony and terrace to complement a very good specification. The development will also be home to a multi-screen cinema and a number of restaurants, and is on the doorstep of Bromley’s impressive range of shops and transport links. All these benefits have led to St FROM Mark’s Square being around 65% sold out. One bedroom apartment: £88,750 for a 25% share (Full market value moat-stmarks.co.uk £355,000) 10% deposit: £8,875

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DEPOSITS

Burnley

Report ranking (from 63)

Average 10% deposit

£10,289

Average weekly salary

£459

Weeks to earn deposit

FROM

At the top of the MyVoucherCodes survey, Burnley has undoubtedly attracted more interest nationally due to the recent success of its football team. It has notable history from medieval times and through the Industrial Revolution. It is under an hour from numerous major towns and cities as well as from some of Britain’s outstanding scenic countryside.

Three bedroom mews house: £159,995 5% deposit: £8,000

SHARED OWNERSHIP

BURNLEY

Sycamore Grove

HELP

McDermott Homes is TO BUY offering a range of detached, semi-detached and mews houses at Sycamore Grove, with three or four bedrooms. Open-plan kitchen/dining rooms and separate lounges are common to the variety of house types, and all master bedrooms come with an en suite and fitted wardrobes. Situated to the north west of Burnley, these new homes provide easy access to major roads and to some of the region’s attractive countryside. mcdermotthomes.co.uk

Blackpool

Average 10% deposit

£12,502

Average weekly salary

£500

Weeks to earn deposit

Foxhill Village

BLACKPOOL Marples Grange

HELP

Marples Grange is a TO BUY development of three and four bedroom houses from Rowland Homes, located in Marton, not far from the heart of Blackpool and the coast. The homes come in a variety of styles, and while the standard internal specification is similar across the range, buyers do have the option of kitchen styles and an extensive range of upgrades. The area has a number of primary and secondary schools, and for transport, Blackpool’s rail station and the M55 are close by.

The UK’s most-loved traditional seaside resort offers an envious array of entertainment and leisure facilities but these are complemented by many practical features, such as shops, schools and transport connections. Numerous nearby motorways make commuting to Manchester, Liverpool and Leeds very straightforward.

BLACKPOOL

Three bedroom house: £161,495 5% deposit: £8,075

rowland.co.uk

Warehouse Lane

Together Housing is offering two, three and four bedroom homes at Warehouse Lane with a choice of buying options. With a nod to traditional architecture, combined with up-to-date interior features, these 20 new homes are located by the Leeds Liverpool Canal, between Burnley and Skipton. Foulridge itself has its own pubs, FROM essential shops, sports and social clubs and is within an hour by car of Three bedroom house: £58,500 Manchester and Leeds. Colne station for a 30% share (Full market value is only two miles away. £195,000) 10% deposit: £5,850 togetherhousing.co.uk

Report ranking (from 63)

FROM

FOULRIDGE

It is mostly two to four bedroom houses still available here, though there are also two bedroom apartments. SHARED Hollinwood Homes OW NERSHIP is building 400 energy-efficient, contemporary designed properties in a central location, with many residents having a view of Blackpool Tower and everyone having access to a number of play areas that have been set into this new village. The development offers a community feel just minutes away from the hustle and bustle of the town centre and FROM seafront. Two bedroom apartment: £57,498 homereach.org.uk/foxhallfor a 50% share (Full market value village-blackpool £114,995) 5% deposit: £2,875

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FLAT PACK HOME

ONE TO WATCH OUT FOR

g n i s u o H r Modula

So, what is a modular home? A modular home is where the elements needed are constructed in a factory, then taken to the construction site to be joined together. They are essentially like flat-pack furniture, only on a much larger scale. Debbie Clark finds out what it is all about

nce on site, modular houses can be assembled in as little as two days, although more typically this will take a few weeks. The interior fit-out then takes around three months, so build times are significantly reduced. The speed at which homes can be built has made modular houses an attractive option for self-builders. Many manufacturers will now adapt existing designs to suit a clientâ&#x20AC;&#x2122;s preferred style and layout, or even offer a completely bespoke solution. It is therefore little wonder that modular housing is back on developersâ&#x20AC;&#x2122; radars too. Modular housing can be in the form of volumetric construction, when homes are built by joining together large, threedimensional modules that are already complete with electrics, plumbing, heating, doors and windows. It can also mean panelised construction, when the

walls, floors and roof are prefabricated, then joined together on site, often using a crane. It may even be a combination of both of these methods. Modular housing has come a long way in recent years. Many of us will associate modular housing with shipping containers, but this is just one end of a growing spectrum of design. The reality is that modular homes now use a range of materials including timber, steel and concrete, each with their own benefits, many of which are still being realised both by manufacturers and builders.

A BRIEF HISTORY Modular houses are not a new idea. In fact, Sears Roebuck began selling homes in kit form well over 100 years ago in the USA, but production stopped during the Great Depression of the 1920s. In the UK, it was Winston Churchill who gave the goahead for modular housing as it provided a quick and economical solution for families bombed during the Blitz and for soldiers returning from war. The manufacturing technique peaked in 1968 when around 450,000 prefab homes were built in the UK. However, the homes suffered from a reputation of poor quality and only around 2,000 of them are still standing today.

CHALLENGING PERCEPTIONS It has taken time for the memories of poor quality, post-war modular homes to fade, but the tide is turning. Since the Millennium, interest in modular housing

has slowly begun to increase. However, it would seem many people remain unconvinced. Home Group found that 52% of us would not choose to live in a modular home, although interestingly only 11% actually recognised a modern modular home as being so. This suggests there are still a lot of misconceptions as to what a modular home looks like in 2019. And while almost half of those surveyed believed modular houses to be "modern" and "innovative", only one in 10 believed they were "good quality". Home Group is committed to challenging these perceptions through its live research project Gateshead Innovation Village. It has built 41 homes, 16 of which are modular houses, and will be comparing the performance of a range of modular construction methods against traditional ones.

IS IT FOR FIRST TIME BUYERS? The rise of more modern modular construction methods being used on ambitious Grand Designs-style self-builds, often with manufacturers from outside the UK, has perpetuated the myth that modular housing is not for the first time buyer. There is often an assumption that buyers need to first buy a plot of land on which to build, an option rarely available to those just setting foot on the property ladder. However, larger

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FLAT PACK HOME

Infographic by Insulation Express

5 REASONS TO CONSIDER BUYING A MODULAR HOME

1 Fast construction 2 High quality builds 3 Innovative designs 4 Eco-friendly credentials 5 Energy efficient

developers are increasingly utilising these methods and the world of modular homes is therefore opening up to a far wider market. One of the UK’s largest housing associations and developers, L&Q, has developed its own off-site manufactured homes outside London, and has plans that by 2025 all its new builds will feature some aspect of modular homes. By 2028, it aims to place its first entirely off-site manufactured home on a site. Fiona Fletcher-Smith, L&Q’s Group Director of Development, said, “To achieve large volumes of building, while still maintaining quality, we needed to innovate. Off-site offers a world of exciting possibilities – faster build programmes, improved build quality, tackling the skills shortage and reduced project costs. Some people get nervous when they hear a part of their home has been built in a factory. But it actually guarantees better quality, because these are better environments for assembling and building in than the harsh outdoor climate. Ultimately, we believe this will be better for our customers. Their homes will be better quality, more cost

Swan Housing Association will produce 300-400 modular homes each year with 560 being used on the latest phase of its regeneration of the Craylands Estate in Basildon. Although when complete, the homes will be indistinguishable from traditionally built homes, they will be greener, more sustainable (including cheaper to heat), and come with a 10-year guarantee and 60-year quality assurance. The 260 homes for private sale will be customisable by the buyer – giving them the opportunity to design their own home including choosing the layout, specification, external appearance and even adding additional rooms. Buyers will be able to use Swans online configurator software to design their new home, from either the comfort of their own home or in the new marketing suite on site. Swan’s in-house developer, NU living, will deliver the new homes under its ‘NU build’ brand. The properties are made using Cross Laminated Timber (CLT), a construction material made from softwood timber grown in managed forests. It’s tough, long lasting and used widely throughout Europe and the USA to construct homes. CLT is sustainable as the forests are managed so that every tree used is replaced and because, when used in construction, it locks away carbon rather than emitting further carbon which happens during traditional construction processes. swan.org.uk

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FLAT PACK HOME effective, built faster while still holding the benefits of traditionally built homes.”

ON THE MARKET Pocket Living is one of the developers leading the way in modern modular housing, accounting for around a third of its new projects. Its form of modular construction sees completed flats being assembled in a factory, before being transported to site and installed with cranes. Pocket Living has already completed four modular developments in London; Mountearl Gardens in Streatham, Sail Street and Juxon Street in Lambeth, and Mapleton Crescent in Wandsworth. The company also has two further developments in the pipeline, Bollo Lane in Ealing and Addiscombe Road in Croydon.

EFFICIENT AND ECO-FRIENDLY Modular construction is universally recognised as an efficient, eco-friendly form of building. Impact on the environment is lessened, with waste minimised through off-site manufacturing. Typically, around 90% less waste is produced than on a traditional build and the green credentials are hugely appealing to developers and buyers alike. The overall build time is generally 30-40% quicker than traditional methods too, which means less noise and traffic for local communities. Additionally, the build quality is easier to manage in a controlled production environment with no adverse weather conditions affecting the process, or delaying completion dates. Modular construction methods tend to produce not only high-quality finishes, but also more energy efficient buildings. At Gateshead Innovation Village, the Home Group is uniquely placed to test the energy efficiency of different types of modular houses. What is learned from this project will go on to inform the eco strategy of future developments.

ADDRESSING THE HOUSING SHORTAGE The UK is facing a significant housing crisis, and up to 300,000 new homes are needed to be built every year until 2030 to meet the current housing deficit. It is therefore not surprising that developers are looking at alternatives to traditional builds. British modular house builders ilke Homes are one company offering a practical solution to the UK’s housing

shortage. Communities Secretary James Brokenshire, who says he is “keen to support increased modular build”, officially opened its first modular housing factory in Knaresborough, Yorkshire, in November. The high-tech factory uses innovative, modern methods of construction to build eight modular homes every day. Björn Conway, CEO of ilke Homes said, “We’re working in partnership with housing associations, local authorities and developers to ensure there is a steady supply of affordable housing for those who need it most.” The attractive range of house types is designed to perfectly serve the needs of modern living. Homes will have flexible layouts with over 100 possible variations, from two-storey terraced houses to threestorey semi-detached properties, and blocks of flats of up to four storeys. The factory will not only deliver highquality homes but has also already created more than 250 local jobs. The house builder plans to expand its Yorkshire workforce, with a further 500 jobs becoming available over the next five years.

CASE STUDY

THE FUTURE OF MODULAR CONSTRUCTION It seems that modular homes are back for good. ilke Homes alone aims to build 2,000 new homes a year over the next two years, and plans are already in place to scale up the operation to produce 5,000 per year in the next five years. Home Group is also firmly committed to the development of modular homes. It has promised to build 10,000 new homes by 2021, and hopes that the findings of its research at Gateshead Innovation Village will help things to move forward even more quickly and efficiently, utilising modular methods. Modular homes have come a long way in the past 30 years and, as technology continues to evolve, modular construction methods will definitely play a huge part in house building as we look to the future. Luckily, the homes being built today are a far cry from those the basic structures the post-war generation inhabited in this country, and they look set to not only stand the test of time, but do so stylishly.

Ola, 36, is a Research Associate at Imperial College London. She recently bought at Pocket Living’s Mapleton Crescent in Wandsworth. Having been a PHD student for nearly five years and then a research fellow at Oxford University, she moved to London into a shared flat in Battersea. Ola had always wanted to settle in London but said, “It was a shattering experience when I found out what my money would get me. I was put off by shared ownership due to the part buy/part rent structure and some of the developments I visited were not up to the standard I was looking for.” Eventually she discovered Pocket Living’s Mapleton Crescent in SW18 and was delighted. “Being a new build was a big draw for me and I really liked the community philosophy behind Pocket. The location was ideal as it is close to where I already lived and near to the gym and cinema and all the local amenties. Ola bought her one bedroom apartment for £330,000 with a deposit of £33,000 by herself with no financial help from her family but she did take advantage of the Help to Buy scheme and had a Help to Buy: ISA.

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FLAT PACK HOME

G R AV E N H I L L

Graven Hill in Bicester, Oxfordshire, is building a village-style community of 1,900 unique homes over the next 10 years. The site will consist of a mixture of self-build and custom-build modular homes with Help to Buy available on the latter. The village will offer open green spaces, including woodland, allotments and a network of cycle paths. In addition, there will be a primary school, community centres, shops, cafes and even a local pub. A number of custom-build homes in Graven Hill are being constructed by Beattie Passive, which supplies Passivhaus homes. Constructed off-site, these homes are extremely eco-friendly, benefiting from virtually zero heating bills. Available with Help to Buy, there are two and three bedroom terraced FROM houses and three and four bedroom detached homes, from £305,000.

£305,000

gravenhill.co.uk

ON THE MARKET...

CHISWICK, W4

FROM £297,000

Bollo Lane

Launching in summer 2019, Pocket Living’s largest development to date comprises 112 homes as well as a resident’s lounge, library, co-working space and three roof terraces including a secret garden. Set in a vibrant area that is home to the RISE Gallery and Boxpark, this development offers locals the chance to be part of an emerging creative community, all less than 15 minutes from London Bridge.

Ready to move into in summer 2019, Bollo Lane provides 84 one bedroom Pocket Homes from £297,000. The 13-storey building includes generous communal areas and two stunning landscaped roof terraces with outdoor dining spaces and uninterrupted, panoramic views stretching as far as Waterloo and Canary Wharf. Located in Ealing, just a stone’s throw from Chiswick Business Park, excellent transport links means central London can be accessed by train or tube in 30 minutes. Help to Buy is also available.

pocketliving.com

CROYDON

FROM £TBC

Addiscome Grove

First Time Buyer April/May 2019 33

LOCATION

HOTspot Liverpool – City Living at its Best

World famous for the Beatles, Liverpool is still the epitome of cool and, with some of the lowest house prices of any UK city, it is a perfect pick for first time buyers looking for stylish city living at a reasonable price Situated in North West England, on the Liverpool Bay of the Irish Sea, Liverpool has been described as having “the most splendid setting of any English city”. Located in the historic county boundaries of Lancashire, it is home to a population of just under 500,000 people. As a port city, Liverpool has historically welcomed immigrants, particularly from Ireland and Wales. It is also home to Britain’s oldest Black African community and the oldest Chinese community in Europe. Liverpool has a long history, dating back to 1190. However, it remained a small settlement until the town’s first wet dock was opened in 1715. Liverpool’s expansion to a major city continued over the next two Penny Lane

centuries. By the start of the 19th century there was a large volume of trade passing through Liverpool and the population grew rapidly. During the second world war, the city suffered a blitz second only to London’s. From the mid-20th century, Liverpool’s docks and manufacturing industries went into sharp decline and the unemployment rate was one of the highest in the UK. However, since the later 20th century, the city has been on the up; Liverpool now consistently enjoys growth rates and long term employment levels above the national averages. Regeneration has been a huge focus for the city and Liverpool now boasts a number of impressive accolades, highlighting its global appeal. Not only is the city’s waterfront a designated World Heritage Site, Liverpool was awarded European City of Culture in 2008 and recognised as a UNESCO City of Music in 2015. If sport is more your thing, it doesn’t get much better than the title of "most successful footballing city in England". This is a city that doesn’t rest on its laurels; it is constantly evolving and is an exciting place to both live and work.

HOMES AND RESIDENTS Liverpool’s population is young and culturally diverse. With 50,000 students

FAC T F I L E

Average property price (December 2018) – £137,163 Property breakdown* (Liverpool) Detached – £262,298 Semi-detached – £165,145 Terraced – £117,960 Flat – £110,542 *According to the Land Registry House Price Index December 2018

FA M O U S R E S I D E N T S • Singer and presenter Cilla Black • Actor Craig Charles • Comedian John Bishop • Heptathlete Katarina Johnson-Thompson • Inventor Frank Hornby

studying at Liverpool University, Liverpool John Moores University and Liverpool Hope University, the city has a cosmopolitan vibe. There is a great variety of homes in and around the city and, even with prices creeping up over the past few years, properties remain largely affordable for first time buyers. There is a huge range of homes, from waterfront living at Albert Dock to traditional Victorian terraces. Masses of new properties are being built, including family homes and city pads, designed for those who retreat to the nearby countryside at weekends, so there is plenty of choice when house hunting. New builds are most popular with first time buyers in the city, and are appealing as they offer the Help to Buy scheme and minimal work on moving in. In many cases, the buyer can even have a lot of say in the decor if they purchase off-plan early enough.

OUT AND ABOUT Liverpool is renowned for its nightlife. The bars and restaurants of Seel Street are particularly popular, and range from high street chains to top-secret clubs, with password entry. The Cavern Club, where the Beatles began their career, remains hugely popular with locals and tourists alike. Cafe

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LOCATION culture is also huge in the city with a wide offering of independent coffee shops. For a spot of culture, the city has more galleries and museums than any city outside the capital, including the Tate Liverpool, on Albert Dock, and the Museum of Liverpool, on the waterfront. Hope Street has a cathedral at either end and the walk up the tower at Liverpool Cathedral is well worth the stunning views. An iconic ferry ride also offers a unique view of the city. Liverpool has a growing festival calendar and some great sporting events. The city is home to two premiership football teams, Liverpool and Everton, and the Merseyside derby is a major highlight of the year. Aintree, on the outskirts of the city, is also famous for the annual Grand National horse race.

SHOPPING Liverpool is a shopper’s paradise, regardless of budget. All the high street favourites can be found in the city, alongside some more unusual stores. Bold Street, which has been voted one of the best shopping streets in the country, is home to independent stores selling everything from world food to art and records. Shoppers can lose hours on end just browsing. The Liverpool ONE open-air shopping and leisure complex has over 150 stores

Liverpool ONE

including a variety of cool boutiques and more than 35 different restaurants, including those on the very trendy terrace. The Cavern Walk shopping complex situated on Matthew Street offers an upmarket experience including Vivienne Westwood, Gucci and DKNY stores, and nearby Metquarter is home to a range of aspirational brands including MAC and Jo Malone.

TRANSPORT Since the world’s first passenger railway was built in 1830, linking Liverpool and Manchester, the city’s public transport has come a long way. There are Merseyrail

services to the suburbs every 15 minutes, an excellent bus network and a ferry service to the Wirral, all of which make it really easy to get around the city. It is equally easy to get further afield; the city is served by the M62, M1 and M6 motorways, offering easy access to neighbouring cities and beyond. Rail links are also excellent, with a Pendolino service to London taking just over two hours. Liverpool John Lennon Airport is great for those wanting to travel within Europe, and Manchester Airport, which is less than an hour away, offers worldwide flights. There are also ferry services to Dublin, Belfast and the Isle of Man or, for something a little more exotic, you can even begin a Transatlantic, North European or Baltic cruise in the city! 5 REASONS WE LOVE… …LIVERPOOL

1 Excellent rail, road, air and sea travel 2 A great city for work-life balance 3 Hip shops and clubs 4 Rich and varied culture 5 The distinctive Liverpudlian accent

HOMES on offer in the area… LIVERPOOL

LIVERPOOL

Lister Gardens

Bakewell Gardens

FROM £TBC Lister Gardens is a new build shared ownership development located on Crosby Road North, in the suburb of Waterloo, Liverpool. The suburb is just a stone’s throw from Liverpool city centre via the excellent transport links, with the train station situated less than a minute's walk away. The 20 one and two bedroom apartments offer maximum comfort, with most of the new homes having outdoor balcony space and excellent build specification inclusive of integrated appliances, door entry system and parking. redwingliving.co.uk

ST HELENS Radley Park

FROM £33,750*

FROM £141,995

Bakewell Gardens comprises16 two bedroom bungalows by Riverside Home Ownership for shared ownership in south Liverpool. Belle Vale Shopping Centre is within walking distance and has a large supermarket, shops and amenities. The area is well served by local buses, and the M62 is two miles away. The homes feature a quality fitted kitchen, carpet and vinyl flooring, and front and rear landscaped gardens. The bungalows are designed for people of all ages and are wheelchair accessible.

Just three miles from St Helens town centre with its bustling high street, shopping centres and leisure facilities, Radley Park is a stunning collection of two, three and four bedroom homes priced from £141,995 for a two bedroom semi-detached home. All properties are available with Help to Buy. Radley Park is less than13 miles from Liverpool for those looking for the hustle and bustle of the city centre. Thatto Heath station is just over a mile away, and provides direct links to Liverpool Central in 45 minutes.

riversidehomeownership.org.uk/newdevelopments/bakewell-gardens

stmodwenhomes.co.uk/our-developments/ radley-park

*Based on a 25% share of the full market value of £135,000

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AFFORDABLE HOMES

SPRING INTO A NEW SHARED OWNERSHIP HOME FROM SO RESI

As winter slips away and the first signs of spring appear, it’s a popular time to think about buying a new home where you can enjoy the warmer weather in fresh surroundings If cost is holding you back from buying, a shared ownership home could be the answer. You buy an initial share of a home depending on what you can afford, which can be as little as 25% but no more than 75%. You only need a deposit of between 5% and 10% of that, which is much lower than paying a deposit on the full price. You then take out a mortgage to cover the rest of your share and pay So Resi a monthly payment on the share you do not own. Esaiyas Mollallegn, Head of Marketing at So Resi, said, “Shared ownership is a brilliant way to buy a home and makes it possible to purchase in an area where you have been priced out of the market. “You don’t have to sacrifice quality or location. Our homes are all situated close to good amenities and transport links. Added to this, an excellent specification with plenty of extras, from kitchen appliances to flooring, makes them outstanding value.” So Resi offers shared ownership homes across the South East, including beautiful locations in Surrey and Hampshire. Many are on the doorstep of spectacular countryside where you can enjoy spring to the full.

SO RESI BLÉRIOT GATE, ADDLESTONE, SURREY

allocated parking and secure cycle storage. From the station, a few minutes’ walk away, it’s just a 44-minute journey time to reach London Waterloo. Prices start at £63,750 for a 25% share (full price £255,000). A 5% deposit of £3,187.50 is required.

SO RESI HOOK, HAMPSHIRE

SO RESI FRIMLEY, SURREY

Set in the heart of the village, these contemporary one and two bedroom apartments are part of the new Pembroke Manor development. They are designed to a high specification, with a modern open-plan living area and great quality fixtures and fittings. Each home has its own allocated parking space. From Hook station, only 300 metres away, direct trains reach London Waterloo in just over an hour. Prices start at £78,380 for a 40% share (full price £195,950). A 10% deposit of £7,838 is required.

SO RESI, EAST MOLESEY, SURREY COMING SOON

These contemporary one and two bedroom apartments are in the heart of Addlestone, which is being transformed with new shops, a cinema, a gym and public spaces. Bright and spacious, the homes feature floor-to-ceiling windows and a private balcony or terrace. Properties benefit from

Riverside development. There are one and two bedroom apartments, and two and three bedroom houses, so buyers can find a home that suits their family circumstances. Stylish, light-filled and energy-efficient, the homes are set in landscaped grounds. Each has private outside space; a balcony or terrace for the apartments, or a rear garden for the houses. From nearby Hampton Court station, trains take 37 minutes to London Waterloo. Guide prices start at £130,375 for a 35% share (full price: £372,500). A 5% deposit of £6,518.75 is required.

In a delightful riverside location, just a few minutes’ drive from Bushy Park, these homes are part of the sought-after Imber

COMING SOON Launching soon, these one and two bedroom apartments and two and three bedroom houses are conveniently located close to Frimley town centre and just over four miles from Farnborough. Sleek fixtures and fittings, modern kitchen appliances and details such as built-in wardrobes in the main bedroom give these homes a feel of quality. Some apartments have a terrace or balcony and each house has a rear garden. There is allocated parking for every home. From Frimley station, trains to London Waterloo take around 69 minutes. To find out more or register your interest in So Resi homes, please call 020 8607 0550 or visit soresi.co.uk

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AFFORDABLE HOMES

THE HAWTHORNS – SUSSEX VILLAGE LIFE AND A COMMUTER’S DREAM

Orbit has over 50 years’ experience of creating sustainable new communities, with particular focus on exceptional customer service and helping people to buy the best possible home available within their budget. Continuing in this tradition, Orbit is launching The Hawthorns, a prestigious new development of spacious, traditionally styled homes in the historic village of Copthorne, a highly sought-after location right on the border of West Sussex and Surrey The beautifully landscaped development includes 26 houses for sale, with Help to Buy: Equity Loans available. Under this scheme, the Government lends up to 20% of the cost of purchasing a newly built home (interest free for the first five years), so only a 5% cash deposit is required, with a 75% mortgage to make up the rest. A further nine high-specification houses will offer the opportunity to buy through shared ownership with Orbit. This means that aspiring homeowners with an annual household income of less than £80,000 can buy a share of a property at The Hawthorns, and pay a Government-subsidised rent on the remaining portion, while only having to find a deposit for the purchased share of the total sale price. However, this doesn’t mean that those benefiting from the scheme are stuck with paying rent forever, because an option known as staircasing allows buyers to increase their percentage stake in the property in the future, as their personal circumstances and household income allow. As well as being highly efficient to run and maintain, with high-quality finishes and fixtures included in the price, the architectural aesthetic of homes at The Hawthorns echoes the West Sussex vernacular style, featuring traditional brick construction with tilehung or weatherboard elevations. There are 13 different house types within the development, including two, three, four and five bedroom options, creating visual variation in the overall space, and adding to the traditional village atmosphere. As well as offering all the trappings of traditional village life, in a well-established and welcoming community, Copthorne is a great location for people who work in London, Brighton, Croydon or Crawley, as fast direct trains run frequently from Three Bridges Station (just 2.3 miles away), with peak time trains reaching London Victoria in around 40 minutes. The address is also

perfect for those who work at Gatwick, or are frequent international business travellers, as it is just a four-minute train journey to the airport, with services every few minutes, and there is also a direct bus route just a couple of minutes’ walk from the development. Copthorne is a sociable village, with several friendly pubs and popular restaurants. It boasts excellent schools and plenty of social groups and sports teams, including art classes, a toddler group, and league clubs for the traditional Sussex game known as “stool ball”. The village is also renowned for its annual carnival, which has been run each summer for over half a century, and involves Copthorne residents in colourful costumes, with floats, games

and sideshows, all raising funds for local good causes. Copthorne offers all the essentials for everyday life, including a GP surgery, a vet, hair salons, pizza takeaways, taxi services, and a convenience store with an ATM and Post Office, and is within easy reach of the major retail centres of Horley and Crawley, with their high street brands, independent stores and major supermarkets. All property sales at The Hawthorns are being handled by estate agent Connells, and enquiries should be directed to the Copthorne Branch on 01342 717 727 or by visiting thehawthornscopthorne.co.uk. Information on all Orbit’s current developments throughout the UK is available at orbithomes.org.uk

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AFFORDABLE HOMES

PEABODY AT THE CENTRE OF EAST LONDON’S NEW ‘TECH CITY’

In recent years, Stratford has been described as London’s new and affordable live/work ‘tech hub’¹, attracting start-ups that were priced out of the ‘tech city’ of Old Street, and relocated to the established Zone 2 centre – a community that now carries a strong sense of identity and wellbeing. Home to a £1.1bn vision for Queen Elizabeth Olympic Park², with the arrival of the London College of Fashion and the new V&A museum. Stratford is just a stone’s throw away from developing and dynamic east London locations. Its close proximity to Hackney Wick and Lea Bridge further enhances its position as a great creative and cultural hub for young professionals MOTION Located in Lea Bridge, just three miles away from Stratford, Motion comprises 300 uniquely designed and spacious new homes. Joining forces with top housebuilder, Hill, the development will mark the beginning of the regeneration of the Lea Bridge neighbourhood bringing urban living with a green fringe to the heart of the community. The three landmark buildings range from 11-17 storeys and consist of stylish and modern studios, one bedroom and two bedroom apartments, boasting stunning views across Waltham Forest, as well as spectacular views toward the Olympic Park and central London. Lea Bridge Overground station is a one-minute walk away, making Stratford underground station just a six-minute train ride away. Positioned in the borough’s growing Mini-Holland network, cycle commuters can reach Liverpool Street in 29 minutes and Stratford in just 16 minutes from Motion. Prices start from £295,000 for a studio apartment, £330,000 for a one bedroom apartment and £425,000 for a two bedroom apartment, all available with Help to Buy in the first release. The shared ownership homes will be launching this spring.

BRIDGE EAST Bridge East is a waterside development ideally situated within walking distance from the heart of Stratford and the Queen Elizabeth Olympic Park. Launching in spring 2019, Bridge East will consist of 10 unique one, two and three bedroom homes all available through shared ownership. Some of the most desirable and sought-after neighbourhoods

East London buyer, Nigel, at Peabody’s Merchants Walk, E3

in east London at Victoria Park Village and Hackney Wick are just minutes from the homes at Bridge East. With exceptional connections to Canary Wharf and central London via the variety of travel options on your doorstep, Bridge East offers residents a truly well connected London lifestyle.

FISH ISLAND VILLAGE Partnering with Hill, Fish Island Village is a vibrant canalside neighbourhood set in the heart of Hackney Wick. The mixed-use development comprises 580 new homes together with 57,000 square feet of commercial space operated by The Trampery, a celebrated social enterprise and co-working provider for creative startup businesses. Hackney Wick Station is less than a 10-minute walk away, and residents can take the Overground to reach Stratford in less than five minutes. The City and Canary Wharf are within close proximity for commuters via the TfL network.

Peabody will be launching the second phase of shared ownership homes at Fish Island Village this spring, comprising 36 one and two bedroom apartments. One and selected two bedroom apartments are also available to purchase using the Government’s Help to Buy scheme. Andrew Peglau, Head of Marketing at Peabody, said, “It’s exciting to be able to provide first time buyers with the opportunity to live in the cultural and tech savvy hub of east London. All three of these developments are fantastic choices to live an exciting lifestyle close to the city and in an area that is continually evolving.” For further information on each of these developments, please visit peabodysales.co.uk 1 homesandproperty.co.uk/property-news/buying/ first-time-buyers/whitechapel-and-stratford-london-s-newaffordable-livework-tech-hubs-51001.html 2 homesandproperty.co.uk/property-news/ london-newbuild-battersea-stratford-museums-galleriestheatres-a125831.html

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AFFORDABLE HOMES

Blackhorse Lane

SAY HELLO TO WALTHAMSTOW

East London has never been so attractive to first time buyers and it would be hard to ignore Walthamstow when starting your search for a new home. With the London Borough of Waltham Forest named “London Borough of Culture for 2019” we look at two fantastic options in this thriving community, which is no longer the capital’s best kept secret E17 has seen a surge in popularity in recent years, with first time buyers attracted by the cheaper prices and an everincreasing range of local aspects, from the popular wetlands nature reserve to a whole host of new restaurants, coffee shops and bars. For those seeking a better work-lifebalance, this fantastic location has it all. At the end of the Victoria Line and close to beautiful Epping Forest, Walthamstow is just about as near as you can get to the countryside without leaving the city. Located just 12 miles from central London, the Victoria Line can whisk you from Zone 3 to Zone 1 in no time at all. Blackhorse Lane from One Housing Group offers a fantastic selection of affordable apartments available under the shared ownership scheme. The development stands in a stunning location within easy distance of a host of local

amenities. The bold, confident architecture encloses peaceful landscaped courtyards filled with lawns, trees and shrubs. Inside, the open-plan rooms feel light and open, offering plenty of space to kick back and relax. The kitchen is well equipped with a dishwasher, washer-dryer and all the work surfaces you need, while the bathroom features stylish, contemporary units. The development includes clever little touches such as energy-saving eco features and handy USB points. Prices start from £158,000 for a 40% share of the full market value of £395,000, Blackhorse Lane gives prospective buyers a chance to join a thriving community at this popular location. Award-winning private developer Regenta, known for its high specification and attention to detail, is launching a brand new collection of homes in E17. The Winns Avenue development consists of spacious

Winns Avenue

one and two bedroom apartments that have been designed to ensure that all living spaces have been carefully considered, with beautifully planned outdoor areas included. Construction is well underway, with the launch planned for late spring 2019. Guide prices start £375,000 for a one bedroom apartment, and £460,000 for the two bedroom apartments. Craig Osborne, Assistant Director at SiteSales Property Group, said, “East London continues to be a very popular destination for the savvy first time buyer looking for high-standard affordable housing. Walthamstow offers potential buyers a wide range of options and a great mixture of culture and convenience, with its fantastic facilities and close proximity to central London” Both of these developments are available through SiteSales Property Group site-sales.co.uk, or call 020 8502 5758

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OPEN MARKET

MOVE IN, GET ONLINE – FAST BROADBAND FOR FIRST TIME BUYERS

When you first move into your new home, what do you want? Coffee, maybe. Then what? Research shows that one of the first things people want to do once they have boiled the kettle is to get online. And they don’t want a shaky, second-rate broadband connection – they want a reliable high-speed connection, working from the moment they pick up the keys to the house On selected homes across new developments by Larkfleet Homes and Allison Homes, people buying their first house can get a “package of extras” that includes super-fast broadband that is working from the day you move in. There is no need to set up a deal with a provider and wait for your line to be connected. It is all done for you. The package for first time buyers also includes: 9 43” LG 4K Ultra HD television 9 Echo Plus 2 – Alexa 9 Choice of paint colours 9 Washer-dryer 9 Legal fees paid 9 Choice of carpets/vinyl 9 Dishwasher 9 Fridge-freezer 9 USB sockets in several rooms At a time when it is increasingly difficult to take that first step on to the property ladder, Larkfleet Homes and Allison Homes are aiming to make things a little easier by allowing first time buyers to personalise their home and avoid some of the normal initial expenses. Even more importantly, perhaps, both companies also provide support and advice to help first time buyers through the whole housebuying process, from finding a house and a mortgage to moving in. Their websites provide a range of information to assist with your first house purchase and friendly sales advisers are just a phone call away if you have any queries. Larkfleet Homes and Allison Homes are building across the East Midlands and East of England – and have recently launched several sites in Devon and Somerset. Properties on offer range from two bedrooms upwards and include bungalows as well as terraced, semi-detached and detached houses. All of them, of course, come with the benefits you get when you buy a newly built home – including brand new appliances and a 10-year warranty. Full details of the companies’ first time buyer packages are at tiny.cc//first-time-larkfleet

NETTLEHAM CHASE

Broadband speeds up to 200 MB are available at the Allison Homes development at Nettleham Chase, near Lincoln. And this is where you will find the four bedroom Folkingham chalet bungalow which is shortlisted in the First Time Buyer Readers’ Awards in the Best First Time Buyer Family Home category. All the homes are thoughtfully designed and traditionally built to a high standard, with a range of two, three, four and five bedroom properties to choose from. Prices range from £231,995 to £494,995. The village of Nettleham, home to the Nettleham Chase development, is winner of many Best Kept Village awards. It offers a traditional English lifestyle in open countryside just four miles from the city of Lincoln. The village itself has facilities including shops and pubs, plus good infant and junior schools and pre-school provision for younger children. Commuting into Lincoln for work, shopping or leisure is easy by car or bicycle or on the frequent local buses. Search for ‘Allison Homes Nettleham’ online

WHITTLESEY GREEN

Larkfleet Homes is offering new contemporary homes with 200 MB broadband in the Cambridgeshire market town of Whittlesey, just a few minutes from the city of Peterborough. Whittlesey Green includes two, three, four and five bedroom homes, all fitted with solar panels as standard. These generate electricity from sunlight, even on cloudy days. They will help to cut your carbon emissions and, importantly, your power bills as well! The development is within easy reach of all the local schools, shops, services and amenities of the town. It also has the advantage of being directly opposite the site for a planned new supermarket – so you could walk home with your groceries! Although close to Peterborough, there’s a different feel and pace of life in Whittlesey. And those few miles can make a big difference to the price you’ll pay for your perfect house. Currently available properties at Whittlesey Green start at £205,995 for a three bedroom semi-detached house. Search for ‘Larkfleet Homes Whittlesey’ online

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AFFORDABLE HOMES

A RARE OPPORTUNITY TO MAKE HAMPSTEAD YOUR MANOR It’s not often that the chance comes along to live affordably in one of London’s most exclusive postcodes Newlon Living is proud to be able to offer new shared ownership homes at Kidderpore Green and Helix at Hampstead Manor; two adjacent high specification developments in one of north London’s most sought-after locations. The new homes are situated in a conservation area just off bustling Finchley Road and are surrounded by Arts and Crafts houses. They are within easy walking distance of the heart of Hampstead, as well as the beautiful green expanses of Hampstead Heath and Golders Hill Park. Whether you want to exercise, shop, relax or absorb some culture at Hampstead Museum, Keats House or the nearby Camden Arts Centre, this is the perfect location. At Kidderpore Green, Newlon Living offers contemporary one bedroom apartments in a stylish development consisting of refurbished Arts and Crafts houses and new contemporary buildings. Features of the homes include a secure

Kidderpore Green

gated door entry system and keyfob access, wood laminate flooring throughout with wool mix carpet in the bedrooms, contemporary fitted kitchens from the Nolte Eco Range with built-in oven, hob and extractor and integrated appliances including fridge-freezer, washing machine and dishwasher. The bathrooms come with modern suites with chrome fittings. You can kick back, relax and breathe in the neighbourhood as each of the apartments has its own balcony or terrace.

Helix at Hampstead Manor

At Helix, there are one and two bedroom homes available as part of the exclusive Hampstead Manor development. Formerly part of Westfield College, Helix comprises a mix of carefully designed new architecture and restored historic buildings, cleverly retaining the area’s distinctive history and character. The development includes a number of Grade II listed buildings surrounded by beautifully landscaped communal gardens. The contemporary homes at Helix come with a high specification and include kitchens by Moores from the Elise range with Zanussi integrated appliances including fridge-freezer, dishwasher, stainless steel oven, electric ceramic hob, extractor hood and washing machine. The bathrooms feature beautifully designed Roca bath suites. Both of these beautiful and stylish developments combine a sense of history with the best in contemporary, affordable living in a superb location. These lovely Hampstead homes are well situated for travel into central London and are within walking distance of Finchley Road & Frognal Overground station and the convenience of the Metropolitan and Jubilee lines at Finchley Road station. For your chance to make Hampstead your manor visit newlonliving.co.uk for information on prices, remaining availability and specifications. Or you can call us on 0800 058 2544. Our expert sales team will be able to assist you with any enquiries and support you through the buying process

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AFFORDABLE HOMES

GO SOLO IN STEPNEY WITH SHARED OWNERSHIP AT NEO The average first time buyer expects to spend on average £211,500 for a property, and to raise a deposit of £44,000¹, with many resorting to buying as part of a couple with friends or family in order to get on to the property ladder. Aspiring buyers on the hunt for an independent path to homeownership, should consider L&Q’s exciting new development, NEO, located in one of east London’s ultra cool quarters, Stepney E14. Offering a contemporary collection of apartments and maisonettes available to buy with L&Q shared ownership, purchasers can buy a new home with a deposit starting at just £11,325, over £30,000 less than anticipated* NEO offers a stylish selection of one and two bedroom apartments and three bedroom maisonettes, set on the peaceful Aston Street, just across from Whitehorse Road Park. Enjoying a fantastic Zone 2 location, residents at NEO are particularly well located for easy and convenient transport links. Limehouse DLR station is just a five-minute walk from NEO, providing effortless connections to Canary Wharf in less than five minutes. For buyers who prefer a more scenic commute, Canary Wharf is only a 30-minute walk away or eight minutes by bike. From Stepney Green underground station, purchasers can reach Liverpool Street in under 10 minutes and Oxford Street in 20 minutes. Claire Brenlund, Sales and Customer Services Director for L&Q’s East Region, said, “More often than not, and particularly in the current market, first

time buyers can easily be disheartened about homeownership, readily dismissing resources out there that are in place to help support them on to the ladder. At L&Q we are committed to delivering affordable homebuying solutions, like shared ownership and London Help to Buy, without compromising on the quality and finish of our homes. NEO is a prime example of this; the lower deposits on offer through L&Q shared ownership means purchasers can access a home that exceeds expectations, in terms of cost, specification and location.” All of the apartments at NEO have been thoughtfully designed to offer spacious open-plan living and dining areas. Kitchens are sleek and modern in style and come complete with a range of integrated appliances. All homes have their own spacious private balconies, terraces or winter gardens, with some enjoying impressive views across London’s city skyline. Bathrooms and en suites continue the sleek and contemporary styling and high-quality finish. Residents also have round-the-clock access to a concierge service, fitness suite and yoga studio. For residents who want to enjoy some well-earned downtime after a busy working week, there is a wide choice of cafes, craft beer pubs and restaurants to enjoy. Husk Coffee is a short walk from home, and cleverly combines the typical cafe culture alongside a number of art classes and events. Mile End Park and Leisure Centre is found less than one mile from the development. Whitehorse Road Park is

located just across from NEO and Stepney Green Park can be found a short walk away from home. Stepney City Farm is also within close proximity, providing homebuyers with organic produce, including fruit, vegetables, meat and bread, all sold at its weekly Saturday market, as well as a packed schedule of weekly events to participate in. Once Crossrail services are operational, this will further transform Stepney into a major transport hub. Trains will run to Bond Street in 10 minutes and to London Heathrow Airport in just 38 minutes. There are also plenty of bus routes and major road links that pass through Stepney, ensuring homeowners are always well-connected. London City Airport is located just six miles away, perfect for those who enjoy a spontaneous weekend break. Prices start from £113,250 for a 30% share of £377,500 one bedroom shared ownership apartment, with London Help to Buy also available on selected homes. For more information please visit neostepney.com or call 0333 234 1165. The marketing suite at NEO is open Monday to Friday between 10am and 5pm, Sundays and Bank Holidays between 10am and 4pm 1 propertyreporter.co.uk/property/new-data-revealswhere-ftbs-are-most-likely-to-go-it-alone.html *£11,325 is based on a 10% deposit for a one bedroom apartment with a shared ownership purchase price of £113,250

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LEGAL

Your legal questions answered Lesley Price (FCILEx), Head of New Homes & Shared Ownership at Lawcomm Solicitors, sheds a light on what key things we need to look for when reviewing documentation for your new build home, and what the pitfalls can be for you if this isn’t done thoroughly As a buyer of a new home, whether on the open market or through an affordable housing scheme, there is one stage of the process that seems to sometimes take forever; the stage of raising enquiries. In this article, we touch on some of the key aspects we look into during this process and why it can often seem to be the longest stage of the transaction.

may restrict development of the site, the developer may have put in place indemnity insurance. We need to make sure all the details of the historic title information is checked and that any insurances offered are fully enforceable.

PLANS

Developers will usually want to standardise the format of contracts, transfers or leases across a development site. This makes it easier for them to produce and means all owners on the site hold their properties on the same (or similar) terms. However, just because paperwork in new build cases is standardised, doesn’t mean errors can’t sometimes occur. We still need to check that the documents have been drafted correctly. We also need to check the paperwork produced to us matches what was agreed in the sales office. We need to compare the terms in your documents, for example price, allowances and practical issues such as parking spaces match the agreement you made with the sales office at the time you made your reservation. We need to make sure that what you are signing up for to exchange is the same as what you reserved on the day.

You would think it would be a set conclusion that all the land included in the development belongs to the seller and that everything on the plans matches the layout of the site on the ground, but this is not always the case. Land Registry boundaries are usually based on the latest versions of the ordinance survey and the older title deeds, not a physical inspection. Development and plot plans are usually drawn up at the beginning of the development of a site before building has even commenced. This means there can be variances between what the plans intend and the actual layout of the boundaries and roads and pathways on the site itself. We will carry out our checks with the Land Registry to make sure, as far as we can, that all of the land on the site belongs to the developer and the boundaries are correct. Please note, however, that we do not inspect the site. When your conveyancer sends you your plans you need to check these very carefully as you are our eyes on the ground to tell us if something doesn’t look right.

LEGAL TITLE

PLANNING PERMISSIONS

Land Registry title to a development site is often a complex affair. The land under development may well be a mix of different parcels of land, each of which have different rights and obligations attached. Many of these will be historic, or in case of land that has changed hands many times simply unknown. The title will often also be subject to a number of prior transfers and deeds that all need reading through carefully. Where matters affecting the title have not been fully revealed to the Land Registry or where there are older restrictions that

When you apply for planning permission on an existing home for a conservatory or small extension, the planning process can be quite daunting. But at the end of it you get a planning consent that confirms whether your planned works is acceptable, but there may be a couple of conditions attached, such as the overall height or brick colouring. New build planning is a much more complex process. There will often be multiple conditions attached to the planning, numerous different updated versions of the planning permissions and

THE CONTRACT AND TRANSFER OR LEASE

Should you require any further information regarding this article or the services provided by Lawcomm Solicitors, please do not hesitate to contact Lesley Price (E: lesley.price@ Lawcomm.co.uk)

changes made to the planning as the build progresses. We, as your solicitors, need to check all these versions and variations carefully, because the conditions attached to the site have the potential to carry over to your new home and if they are not met, they can be enforceable for up to 10 years (not all the conditions can be met straight away). There may even be conditions still outstanding when you complete, in which case we need to make sure there are sufficient legal obligations in place to make sure the developer cannot complete your site and move on, leaving you liable.

PLANNING AGREEMENTS Most new developmetnts, especially on larger sites, come with numerous planning agreements that can run to hundreds of pages. These are the agreements the developer has entered into with the Council and utility supply companies when it asked for permission to build your home. Why are these important to you? The two main things we look for when reading planning agreements are:  Conditions that have been attached to these agreements that the developer needs to comply with and;  Financial agreements by the developer to pay money to the Council or utility companies in connection with getting the site set up. Many of these contributions are paid up front, but some are paid in instalments or become due after you will have completed and moved into your new home. We need to check for both you and your lender that these obligations and costs do not become your responsibility when you complete. We need to make sure the agreements are backed by sufficient legal guarantees or insurance so if the developer does not fulfil

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LEGAL

Lawcomm Solicitors offers an award-winning conveyancing service to first time buyers seeking to buy their first property and work as recommended solicitors to several housing associations and private developers on a nationwide basis. Contact us for a no obligation discussion and estimate of costs.

its obligations or becomes insolvent, you and the other homeowners on the estate do not end up facing large bills as a result.

BUILDING CONTROL AND WARRANTY Your new home will come with a new home warranty. The National House Building Council (NHBC for short) is the most common, but there are a number of different schemes. We need to check the individual warranty providerâ&#x20AC;&#x2122;s terms and conditions to make sure it is the right type of warranty for your home and that all the conditions have been met to enable you to make a claim in the unfortunate event issues arise. If you are buying under a shared ownership scheme, you are buying a part share in the property and so the NHBC guarantee will initially be entered into between the housing association and the NHBC. The housing association will retain all documentation for this, although you will have the benefit of it. If you have any issues with the property that you believe may be covered under the warranty, then you should contact the housing association as a point of first contact and it will investigate the issues and, if needs-be, make a claim under the warranty for you

SERVICE AND ESTATE CHARGE ARRANGEMENTS There will be areas on the site that are not being sold to individual buyers. This could

be the communal areas in a block of flats or the roads and open areas on an estate of houses. There will also often be shared facilitates and utility supply wires and pipes that someone needs to take care of in the future once the site is finished and the developer has moved on. We need to make sure we have a satisfactory answer to who will be responsible, how will maintenance costs be dealt with and who will organise collecting the money for the work that needs doing. These arrangements all need to be in order to make sure you know who to contact if repairs need doing and how much you may be paying in the future towards the cost of the estate as a whole.

SEARCHES You would think that by this point, having read all the paperwork, the searches are primarily for your lenderâ&#x20AC;&#x2122;s benefit. You may be surprised when we get the results and need to raise further questions about them. As mentioned before, planning on a site is a very dynamic process and often the searches will contain newer information than the original site papers as the planning process is an ongoing one. We may have to go back and ask for more recent planning documentation and we may have to go back and check specific aspects of the planning to make sure the planning obligations have been met and all payments due from the developer are up to date. The searches may reveal details about the area surrounding the site such as mobile phone masts, flood

risk or rail developments, such as HS2, that may require specialist investigation or further searches to make sure you are aware of any matters that may impact the value of your home.

YOUR QUESTIONS While each new build plot may often be very similar, each purchase carries a unique variant; you, the buyer. You may have knowledge of the site which we do not. Usually you will have visited the site, have had discussions with the sales team and you may be familiar with the location in which your home is being built. Once you have read all your paperwork you may have your own individual questions that you want us to raise, and as you have a unique perspective on the development and how you want to live in your new home, these are just as important to the process as the technical questions.

CONCLUSION So, while the process of raising enquiries can be a frustrating time, it forms a vital part of the process. It is often the stage in which you have the least involvement because it deals with the more technical aspect of your purchase. However, it is a vital stage to ensure that all the legal aspects of your purchase have been investigated thoroughly and you know what your rights and responsibilities are, allowing you to relax and enjoy your new home.

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INSURANCE

IT’S TIME TO TALK ABOUT LIFE INSURANCE Brean Horne, an insurance expert at Which?, explains how life insurance works and why it matters now No one wants to think about dying, especially when you’re buying your first home and excitedly planning a bright future. But it’s precisely now, when you’re making a major financial commitment and becoming the owner of a valuable asset, that you need to put plans in place for protecting your loved ones if the worst should happen. That’s right: it’s time to talk about life insurance. There are various types of policy on the market, each offering different features. Here, we explain the main types of life insurance policy, how they work and who they might be suitable for.

WHAT IS LIFE INSURANCE? Life insurance is a financial product that lets you leave money behind for your family when you pass away. It can be used to support them over a number of years, to replace lost income, or to pay off large debts such as a mortgage. Life insurance is paid for in monthly premiums. The amount you pay each month will be determined by a number of factors including your age, health, lifestyle, how much cover you need and the type of policy you take out. There are three main types of life insurance policy: term life insurance, family income benefit and whole-of-life insurance.

TERM LIFE INSURANCE Term life insurance is the most basic type of life insurance, where you can choose the amount you want to be insured for and the period you want to cover. So, for example, with a 40-year term, if you die within the 40 years of the policy, your loved ones will receive a cash lump sum from your insurer. If you don’t die during that term, the policy doesn’t

pay out and the premiums that you’ve paid will not be returned to you.

policy ends, there will be no payout to your loved ones.

There are two main types of term insurance policies to consider: 1. Level term: pays out a lump sum when you die within a specified term. The amount you’re covered for remains the same throughout the term. 2. Decreasing: the amount that you’re covered for decreases over the term of the policy. These policies are often used to cover a debt that reduces over time, such as a repayment mortgage.

Pros of family income benefit Can be very a budget-friendly form of life insurance. Helps provide your family with a regular income. Cons of family income benefit Total payout will be lower the further into the policy term the claim is made.

Pros of term insurance Allows you to protect your family financially. Ensures large debts like a mortgage are taken care of. Cons of term insurance Only covers you for a limited period of time.

FAMILY INCOME BENEFIT Family income benefit is a special type of life insurance policy that pays out a regular income, rather than a lump sum, when you pass away. Some people choose to take it out in addition to term life insurance, as it means regular expenditure will be covered as well as larger debts such as a mortgage. When taking out a policy, you get to state how much income your loved ones need to receive and over what period you’d like them to receive it. This can be hard to work out, but an insurance adviser should be able to help. For example, your family might need £2,000 a month for the next 30 years in order to be secure when you die. If you died within the first year of the policy, the insurer would pay out £2,000 a month for the full 30 years of the policy, while if you died in year 25, your family would receive £2,000 a month for the final five years. If you die after the term of the

WHOLE-OF-LIFE-INSURANCE Whole-of-life insurance ensures that your loved ones receive a lump sum payout from your insurer no matter when you die. Whole-of-life insurance policies broadly come in two main types: 1. Balanced cover: your premiums are guaranteed to stay the same even as you get older and your health deteriorates. The payout when you die will be for a fixed lump sum. 2. Maximum cover: your cover is linked to an investment fund. The insurer invests the money you pay each month in the hope that the returns generated will be enough to cover the cost of your payout. Usually, these policies are cheaper initially, but premium increases over time are likely and can, in some cases, be substantial. Pros of a whole-of-life policy Could help you leave your loved ones an inheritance. Can help your family deal with an inheritance tax bill or the cost of a funeral. Cons of a whole of life policy The older you are when you die, the less likely your dependents are to need a large lump sum. It’s more expensive than term insurance.

CRITICAL ILLNESS INSURANCE Critical illness insurance gives you the option to stop working if you’re diagnosed with a serious health issue. When taking out critical illness cover, you’ll need to calculate how much

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INSURANCE

protection you need and how long you want your policy to last. The best way to work this out is to calculate how much you and your family would need to be able to live comfortably if you were to develop a serious illness and were no longer able to work. The exact illnesses covered by critical illness policies will vary between providers but most will cover the following as standard: cancer, heart attack, stroke, organ failure, Multiple Sclerosis, Alzheimer’s disease and Parkinson’s disease. One thing to bear in mind with critical illness policies is that they may not kick in until your illness hits a certain level of severity. Pros of critical illness cover Offers a payout if your employer doesn’t have a scheme in place for people who develop long-term health issues. Easy to get cover if you’re in good health. Covers you even if, technically, you could still work despite your illness. Cons of critical illness cover Could be subject to inheritance tax if you don’t claim before passing away. Policies will be more expensive if you have a pre-existing medical condition and some providers may refuse to provide cover altogether.

INCOME PROTECTION INSURANCE Income protection insurance also covers you if you suffer an injury or illness but, unlike critical illness cover, it will only pay out if your doctor deems you unable to work (so, for example, if you have cancer but can still technically do your job, income protection insurance won’t cover you). It also won’t pay out if you’re made redundant. This kind of policy pays you a regular income, rather than a lump sum, and it’s usually made until you return to work, retire or pass away. The cost of your income protection policy will depend on the level of cover you need. The riskier your job, the more likely you are to make a claim and, therefore, the pricier your premium will be. Income protection insurance can be "index-linked" – meaning that both your monthly payments and the potential payout on a claim will rise with inflation. You could instead opt for "stepped benefit" income protection which allows you to choose two different levels of payment, which pay out after different time periods. This might be suitable if your employer pays a higher rate of sick pay at the start of your illness but it reduces over time.

Pros of income protection insurance Peace of mind if you’re unable to work due to injury or illness. Flexibility to adjust your payout level. Cons of protection insurance Your premium will be higher if your job is considered risky. There may be a long waiting period before you receive your first payment.

TAKE ADVICE Life insurance is complicated, so when you’re trying to work out the best type of policy for your situation it can be helpful to seek advice from an impartial broker such as Which? Insurance Advisers. The team at Which? Insurance Advisers understands that there isn’t a one-sizefits-all solution when it comes to protecting your family – each policy should be as unique as the person taking it out. Our advisers will spend time getting to know you in order to recommend the best option for your individual circumstances, and the service is completely free of charge. To talk to an expert about the right solution for you, call Which? Insurance Advisers today on 0800 316 6703. which.co.uk/life-insurance

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FOR SALE

FOR SALE THE CREAM OF THE CROP Each month, FTB scours the market for the best started homes for first time buyers. So, if you’re looking for your first home on a budget, a new pad for a growing family, or a stunning waterside retreat, we hope you will enjoy our selection

BARKING, EAST LONDON

HOIC FIRST C

R’S COMMUTE

DR★E★A★M

Affordable homes p58-59 GORTON, MANCHESTER

HOIC FIRST C

NORTHERN

S★TA★ ★R

Family homes p60-61

WOOLWICH, SOUTH EAST LONDON

HOIC FIRST C

PRIME

LOC★A★T★ION Waterside living p62-63

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FOR SALE

AFFORDABLE HOMES BARKING, EAST LONDON

HOIC FIRST C

FROM £74,250*

ER’S COMMUTM DR★E★A★

Weavers Quarter The final phase of this popular development launches 51 new homes, which form part of the larger regeneration project that will eventually see more than 1,000 new homes created. The one, two and three bedroom apartments available here are beautifully finished, with bright, well-sized living/dining areas and a private balcony or terrace. Barking town centre lies around a 10-minute walk away, where you’ll find a wide range of shops, restaurants, gyms and a theatre. From Barking station – a 15-minute walk – rail services take just 18 minutes to reach Fenchurch Street, while the tube runs to Stratford in 17 minutes. L&Q 0333 234 1153 weaversquarter.co.uk

*Based on a 30% share of the full market value of £247,500

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FOR SALE TOTTERIDGE, NORTH LONDON

FROM £102,500*

FROM £184,995

ASHBOURNE, DERBYSHIRE

SO Resi Totteridge On Totteridge’s vibrant high street, moments from Totteridge and Whetstone station, these one and two bedroom apartments are perfect for commuters. With a great range of shops and cafes on the doorstep, the development is highly convenient, and has an abundance of local green spaces. The homes have been

finished to a high specification, with fully fitted kitchens with integrated appliances, and en suite bathroom from the master bedroom in the larger homes. Travel to King’s Cross takes just 25 minutes. So Resi 020 8607 0550 soresi.co.uk

*Based on a 25% share of the full market value of £410,000

LUTON, BEDFORDSHIRE

FROM £197,500

Dove Manor Those looking to enjoy village life will love these one to four bedroom homes on the outskirts of Doveridge. The properties range from apartments to semidetached and detached houses. The three bedroom homes feature an open-plan living/ dining area opening to a private garden, as well as an en suite

and shower room upstairs. All of the properties have parking or a garage. Shops and amenities are within walking distance, along with a school and park. Burtonon-Trent and Derby are less than 30 minutes away by car. Bellway 07970 874 520 bellway.co.uk

R O YA L W H A R F, E A S T L O N D O N

FROM £120,625*

Saxon Square Positioned in the heart of a major regeneration area and with excellent transport links, these 223 luxury apartments, with one and two bedrooms, enjoy contemporary design and high-end finishes throughout. The open-plan living/dining areas feature smart, fitted kitchens with integrated appliances and dark

wood flooring. Getting around is so easy, too. The M1 is nearby for road travel, while from Luton Airport Parkway, trains run to St Pancras in under 25 minutes. Of course, the nearby airport makes for easy international travel. Redrow 020 3733 9314 redrow.co.uk

Traders’ Quarter An entire new riverside district is being created at Royal Wharf, where around 3,500 homes are being built. This new collection of one, two and three bedroom apartments forms part of the larger development, which will also see a new pier and riverside promenade, as well as cafes, gyms, open spaces

and restaurants. The spacious properties at Traders’ Quarter have bright, open spaces, cycle storage and a 24-hour concierge. Both Silvertown and Pontoon Dock DLR stations are under five minutes’ walk away. Notting Hill Genesis 0344 809 2016 nhgsales.com

*Based on a 25% share of the full market value of £482,500

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FOR SALE

FAMILY HOMES FROM £159,950

GORTON, MANCHESTER

HOIC FIRST C

NORTHERN STA★ ★R ★

Arkwright Place Situated just over two miles from Manchester’s thriving centre, this popular new development is home to 131 new two, three and four bedroom houses. The homes have been designed with family life in mind, with separate kitchen and living room on the ground floor, along with a downstairs WC, and the well-sized bedrooms on the first floor. Residents can access their private rear gardens from the spacious living areas. Gorton is well located for travel into the city centre, with train and bus services running into Manchester. There’s also a great deal of stunning parkland and countryside within a short drive. Plumlife 0161 447 5050 plumlife.co.uk

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FOR SALE CADDINGTON, BEDFORDSHIRE

FROM £130,000*

FROM £345,000

BICESTER, OXFORDSHIRE

Caddington Woods Enjoying a semi-rural position but with great commuter links, these new two and three bedroom homes offer the best of both worlds. From Manor Road Caddington, London can be reached in under an hour, while the homes sit surrounded by open countryside. Inside, the homes are ideal for growing

families, with kitchen/living areas opening to a rear garden, and an en suite from the master bedroom in the larger properties. Nearby Caddington has pubs, post office and schools, while Luton is a 10-minute drive away. Catalyst Housing 0300 456 2069 chg.org.uk

*Based on a 40% share of the full market value of £325,000

HACKBRIDGE, SOUTH LONDON

FROM £78,000*

Elmsbrook Energy efficiency was top priority in the design of these new homes on the outskirts of Bicester. With the use of sustainable building materials it is hoped that the houses can reduce carbon and electricity use – meaning less environmental impact as well as lower bills. The two, three, four and five bedroom homes

are beautifully designed, with stunning countryside on the doorstep. And with a wide choice of amenities in the local area, it’s a super spot for families. Stunning Oxford is around a 30-minute drive. Fabrica 01869 868 016 fabrica.co.uk

CHICHESTER, WEST SUSSEX

FROM £207,500

SO Resi Hackbridge With pretty parks and green spaces in abundance, as well as speedy rail links to Clapham Junction, these homes are ideal for commuters looking to retreat to peaceful enclaves. The one, two and three bedroom homes form part of New Mill Quarter, and feature well-sized rooms, with open-plan living areas,

many of which open to a private balcony. Lovely Beddington Park lies a short walk away, along with facilities including a leisure centre and local restaurants. For shopping, head to nearby Wallington, Croydon or Sutton. So Resi 020 8607 0550 soresi.co.uk

*Based on a 30% share of the full market value of £260,000

Keepers Green With a cricket green, community gardens and stunning scenery on the doorstep, it’s the quintessential English village. The homes range from one and two bedroom apartments to three and four bedroom detached houses, all beautifully designed and finished to a high standard. The larger properties include double

garages, private gardens and en suite bathrooms, while the wellsized apartments feature private balconies, allocated parking and en suite bathrooms from the master bedroom. Historic Chichester is a 20-minute walk. Hill 01243 957 646 hill.co.uk

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FOR SALE

WATERSIDE LIVING WOOLWICH, SOUTH EAST LONDON

HOIC FIRST C

FROM £320,000*

PRIME LOC★A★T★ION

Royal Arsenal Riverside This new development occupies a prime riverside location with excellent transport links into the city. The studio, one and two bedroom apartments benefit from an onsite Clipper service – for fast river transport – while Woolwich station will soon be served by Crossrail, aiding exceptionally speedy travel into central London. The homes, which have been beautifully designed and are set around landscaped gardens, feature floor-to-ceiling windows with great views, private balconies, utility room and open-plan living/dining areas. Residents will also have access to an exclusive gym and spa. Berkeley Group 020 8108 3229 berkeleygroup.co.uk

*With the 20% discount via Berkeley’s Discount Market Sale Scheme for people living and working within a London borough

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FOR SALE M E D WA Y , K E N T

FROM £249,995 W E S T D R AY T O N , W E S T L O N D O N

FROM £285,000

Kiln View This collection of two bedroom apartments and three and four bedroom town houses forms part of the new riverside community, Peters Village. Just moments from the River Medway, the homes sit in spectacular surroundings with the River Medway and some of Kent’s most beautiful countryside nearby. For travel to London,

READING, BERKSHIRE

Snodland rail station is a short drive away, for commuting times of just over an hour. The homes have been thoughtfully designed, with energy efficient features throughout to help keep utility bills down. Orbit Homes 01634 567 896 orbithomes.org.uk

FROM £285,000

Union Park Set alongside the Grand Union Canal, Union Park is an exclusive development of 251 studio, one, two and three bedroom apartments. These stylish homes have been finished to a high specification, each with a private outdoor space offering views over the water. West Drayton and Uxbridge stations are less

than a mile away, offering access to central London in just 20 minutes. There is plenty on offer nearby and the Colne Valley Regional Park that surrounds the development offers an escape from the bustle of the city. London Green 01895 659 236 unionpark.co.uk

GREENWICH, S E LONDON

FROM £TBC*

Bankside Gardens The lakeside homes at Bankside Gardens are set to become part of Reading’s first “lifestyle hub”. The one and two bedroom apartments will also offer coworking spaces to residents, with communal working zones, Wi-Fi bars and a studio. Facilities will also include a gym and a residents-only cinema. The views

are great, and there’s a lake, parkland and countryside to explore. Reading is two miles north. From Green Park station, Crossrail will reach Reading in around six minutes and London Paddington in 26 minutes. Berkeley Group 0118 321 9553 berkeleygroup.co.uk

Thames Street Historic Greenwich is a much sought-after location. These apartments occupy a fantastic position – on the river and close to the beating heart of the town. L&Q is offering a small number of two and three bedroom homes through shared ownership, with several one to three bedroom homes also available for private

sale. The homes are beautiful inside and out, with private balconies and open-plan living areas. There’s a great deal to keep you entertained, while Jubilee Line services whizz to the West End in under 20 minutes. L&Q 0300 456 9997 lqpricedin.co.uk *Shared ownership available

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REAL LIFE

Shared ownership: Islington It can now take up to 17 years for an average Londoner to save up just a 15% deposit, something that is proving difficult without the help from Government-supported home ownership schemes. Irish citizen Allison Christina moved to the UK five years ago and after being priced out of her rented flat on Upper Street in Islington, Allison discovered she could buy her own home through Hyde New Homes’ shared ownership scheme at the Packington Square development in her favourite part of town

llison was living in Germany but with the small town outside Frankfurt not fulfilling her needs and with London always being her dream place to live, she took the leap and moved to Islington. Fully aware that it would take her up to five years to afford to buy a flat in the area, Allison couldn’t believe her luck when she discovered Packington Square. “I was beyond grateful that I was able to purchase a home so easily. I looked at this opportunity as winning the lottery. It was wonderful! I did my research and put my name on the list straight away. I was hoping to get something within a year but I found something within a month.” Unfortunately, Allison was faced with a hurdle, as all homes had been fully reserved and was unsuccessful in her first exchange so it was back to the drawing board. “I was truly gutted I didn’t get my first choice apartment. With the prices in London being extremely high, and being a journalist by trade, I never thought I’d be able to own a home. Being 44 and not yet a home owner was really disappointing for me. I would walk past the development and just hope that it would all fall into place for me at some point.” Allison’s wishful thinking proved to be a success as Hyde New Homes was later thrilled to inform her that the apartment was back on the market. Within a month it was all hers. “I couldn’t believe my luck. I felt that I had gotten my piece of London. I’m living proof that it’s never too late to find your happy place in London in your 40s.” Allison

FA C T F I L E

Property: One bedroom apartment Price of £227,250 for a 45% share with a full market value of £505,000 Deposit: £14,700

“I WAS BEYOND GRATEFUL THAT I WAS ABLE TO PURCHASE A HOME SO EASILY. I LOOKED AT THIS OPPORTUNITY AS WINNING THE LOTTERY, IT WAS WONDERFUL! I DID MY RESEARCH AND PUT MY NAME ON THE LIST STRAIGHT AWAY. I WAS HOPING TO GET SOMETHING WITHIN A YEAR BUT I FOUND SOMETHING WITHIN A MONTH” purchased a 45% share of a one bedroom property for £227,250, with a full market value of £505,000. This allowed her to put down an initial deposit of £14,700, a far more achievable figure she would not have met in the private market on her income. Islington was an area of London Allison was very familiar with. It’s popular and well connected, and she is just a walk away from work. “Islington is my favourite part of London and the lifestyle fits perfectly with me. Given my job as an Editor I was keen to live near work and needed to have access to the office 24/7, so this is a dream come true.” With an abundance of local pubs, cafes and restaurants in the area, and its own unique character and artistic feel, Allison was beginning to discover her own perks and attractions she wouldn’t have found otherwise. “Camden Passage is a treasure, full of antique shops, little stores and a

quaint Japanese tea shop. There is also a flea market on Saturdays and I could spend a whole morning there. I also have a canal opposite my apartment which played a big part in my decision process. There are also so many bars and restaurants and being a single female, I just feel safe here and never feel alone. The buzz of the area is contagious and the transport is great.” Allison was so happy that Hyde New Homes gave her the opportunity to buy her own home, and that she had the confidence and ability to purchase alone. Allison is now looking forward to living her London dream. Packington Square has now fully sold but there are more shared ownership properties to view with Hyde New Homes across London. For further information please visit the website at hydenewhomes.co.uk or call 0345 606 1221

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AFFORDABLE HOMES

A CAPITAL CHOICE!

If you are a first time buyer and aspire to live in London but thought it was only a dream, then look no further. Catalyst Housing has a choice of homes in several central locations and they are affordable too! When making a list of your top priorities when searching for your first home, many first time buyers will put living in London as one of their main wishes, but they also think that it is probably impossible. They also want excellent transport links, good local amenities, a safe and secure community and a beautiful home. The developments from Catalyst Housing tick all those boxes and they are all available through shared ownership making them

very affordable. Shared ownership is a great way of getting on the housing ladder. You buy a share of a home, usually between 25% to 75%, with a lower deposit (as little as 5% of the share purchased) and pay a mortgage for the share you own and a subsidised rent on the part you don’t own. If you wish you can buy extra shares over time until you own 100% of the property, at which point you will only pay a mortgage and not any rent.

HERE ARE A FEW EXAMPLES OF HOMES CURRENTLY AVAILABLE FROM CATALYST HOUSING FROM £92,500*

WHETSTONE Liberty Square

NORTH FINCHLEY

FROM £135,625*

Trinity Square

Trinity Square is a development in North Finchley, north London and the two bedroom shared ownership apartments offer first time buyers the perfect location for professionals and growing families to call home. With a thriving local community on the doorstep, residents benefit from great shops, bars and restaurants and Woodside tube station, on the Northern Line is just over a 10-minute walk away. The contemporary apartments offer quality fixtures and fittings with a video entry phone and one allocated parking space per property.

This collection of one and two bedroom shared ownership apartments is just moments from Totteridge and Whetstone station on the Northern Line. This thriving community is surrounded by local parks, nature reserves and outdoor sports facilities and there are independent cafes and a busy high street right on the doorstep. The open-plan apartments feature veneered oak flooring throughout plus fitted carpets in the bedrooms, which also feature built-in wardrobes. Homes have balconies and large windows that flood the rooms with natural light throughout the day. Parking is also included. libertysq@chg.org.uk 020 3369 1141 *Based on a 25% share with a full market value of £370,000

sales.trinitysq@chg.org.uk 020 3369 0024 *Based on a 35% share with a full market value of £387,500

FROM £112,875

SOUTHALL ASPIRE

This collection of one and two bedroom apartments at ASPIRE is a new development located beween Southall and Hanwell, tucked away from the hustle and bustle of the city but with excellent transport links to central London and beyond. The homes are set within a partially Grade II listed site and residents will benefit from a beautiful main square and outdoor space and these light-filled homes are finished to the highest quality with exceptional fixtures and fittings throughout. stbernardsgatesales@chg.org.uk 020 3369 0599

COMING SOON

FROM £TBC

EDGWARE

NEON

A new development of shared ownership one and two bedroom apartments is coming soon to Burnt Oak Broadway, Edgware. Each apartment will benefit from a private balcony and communal landscaped gardens on the south-facing podium situated on the first floor. Burnt Oak and Edgware stations on the Northern Line provide excellent transport links to central London. Edgware offers an abundance of restaurants, cafes and bars and it is home to a number of parks and open green spaces. sales@chg.org.uk 020 8168 0196

From £112,875 (shared ownership), based on a 35% share with a full market value of £322,500

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AFFORDABLE HOMES

HOW MOVINGSOON IS HELPING FIRST TIME BUYERS Spring is established as the most buoyant season for house hunting. The busy period sees people leaving their sofas and knocking on doors in anticipation of finding a new home. For first time buyers in particular, the first days of searching for a property are full of hope and excitement If this is you and you are looking for a new home then it helps to be prepared. Remember that bidding wars and the gruelling routine of finalising a mortgage can grind even the best endeavours to a halt. Often, despite your focus, you can be priced out of the market altogether. Many wouldbe housebuyers end up disappointed, confused by the options and simply give up. However, stepping away from the mainstream property listing websites reveals a host of other options.

AN AFFORDABLE ALTERNATIVE MovingSoon is focused on providing a range of options for anybody who is priced out of buying a house on the open market. Launched in 2013, it was among the first of its kind online. Its founder, Paul Malone, created the platform for visitors to search for affordable properties exclusively. Initially, most of the properties listed on the platform were affordable rental properties. This is still true, but over the last few years there have been an increasing number of affordable homes for sale on the site. And now there are more searches performed on the site for shared ownership properties.

SHARED OWNERSHIP; SHARED KNOWLEDGE Most shared ownership properties are purpose-built, brand new homes. They are often on housing developments where private outright ownership homes are also available. The shared ownership properties offer the same features – low maintenance with a high-end finish. Due to a Government subsidy, they are more affordable which makes them a great option for first time buyers. Paul explains, “Our experience has taught us that many people are confused about shared ownership and

exactly what it means. Common myths are that shared ownership isn’t for employed people or that you have to share your house with another person. MovingSoon is committed to publicising the Government-backed scheme and promoting understanding. The site focuses on helping potential buyers get a grip on whether it is for them. Then we put them in touch with the housing association to get them off the blocks with homeownership.” In 2018, the site attracted more than 1.7 million page views. For a small team operating from a little office, that’s no mean feat. It has been a busy five years for the company that has worked with more than 82 housing associations in six years. These landlords operate on a not-for-profit basis, taking on the task of administering and managing the Government’s homeownership schemes. MovingSoon Founder, Paul, and his team have become experts on shared ownership and the various options available. They understand that shared ownership isn’t the right solution for everyone, but it is a good option to consider; there is even a shared ownership scheme for older people.

Great Coxwell, Faringdon, Oxfordshire – Stonewater Homes

Nine Acres, Bishopstoke, Hampshire – Radian Homes

ARE YOU MOVING SOON? If you are interested in finding out more about affordable routes to homeownership, MovingSoon has lots of useful information about how shared ownership works. You can also start looking for your perfect home straight away, filtering your property search to find suitable homes without sifting them out from the private market. Whatever route you take to buying your first home, enjoy the experience and don’t let it phase you. It can be an overwhelming time, but the challenges are worth the outcome.

Priors Orchard, Southbourne, Chichester, West Sussex – Radian Homes

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The Bushels, Mosterton, Dorset – Stonewater Homes

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READERS’ AWARDS 2019 VOTE NOW! We take our readers very seriously and want to know your views as first time buyers. That’s why we need you to vote for your favourite developments, housing providers and other categories, listed on the following pages, in our First Time Buyer Readers’ Awards 2019. You could win £250 in IKEA vouchers! For more details, see page 104.

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BEST SMALL DEVELOPMENT AFFORDABLE HOMES

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

FS PROPERTIES | CALUM HOUSE This high-quality development reuses the existing concrete frame of this former office building and utilises an innovative steel transfer structure to build a lightweight, five-storey, timber-framed structure above. The frame is clad in brick and contrasted with fret-cut metal balconies and aluminium-framed glazing to provide a new high-quality material palette to the streetscape. The development provides 36 apartments ranging in size from one to three bedrooms. Care has been taken to design each apartment to provide a good standard of contemporary accommodation, with deep balconies to provide usable external space. The existing ground floor restaurant is retained, and by careful programming of the works, the restaurant can be operational during construction. A smaller yet more efficient layout provides a high-quality destination restaurant on the site.

LONDON GREEN | WOODROW Bringing warehouse-style living to the heart of Woolwich, London Green’s redevelopment of 65/66 Woodrow comprises a selection of 23 one and two bedroom apartments and duplexes, offering stylish urban homes ideally suited to first time buyers. Formerly the site of Slazenger’s tennis ball production factory, London Green’s 65/66 Woodrow has been sympathetically redesigned to reflect its interesting history and retain the original building’s classic Victorian character. Prices at 65/66 Woodrow started from £280,000 for a one bedroom apartment. All apartments have now sold, with 21 out of the 23 homes being purchased by first time buyers. All apartments were available through the London Help to Buy scheme. London Green is a property development and investment firm with a strong track record in delivering high-quality residential schemes of between 20 and 250 units. Its experience, knowledge and agility allow it to harness the potential of complex sites, delivering much-needed housing across London.

OPTIVO | THE FORGE The Forge is a collection of stylish homes located in Ringmer, East Sussex, on the edge of the South Downs National Park. Presented as a mix of open market and affordable homes, the development offers the best of both of worlds with surrounding tranquil countryside, traditional village amenities and good transport links. Within The Forge, Optivo offered a one bedroom apartment and three two bedroom houses available through the shared ownership scheme. The properties have been designed with modern homebuyers’ needs firmly in mind, from their stylish exteriors, sizeable gardens and parking, to their contemporary interiors with integrated appliances. The site has been developed to work harmoniously with the local community, both in terms of its appearance, which complements existing local dwellings, and thanks to the provision of an extensive forecourt area for village residents to use when dropping children off at the nearby school. Widespread tree planting completes the local impact.

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ORBIT | HOLLYMOOR PLACE

READERS’ AWARDS

Hollymoor Place in Epsom, Surrey, is the result of Orbit working collaboratively with partners Epsom & Ewell Borough Council and United Living, to provide muchneeded affordable homes in the area. Hollymoor Place provides Epsom with 30 new affordable, environmentally-aware homes, including 10 two bedroom apartments available for sale with shared ownership. The beautifully designed and landscaped development has breathed new life into a formerly derelict, eyesore old estate, right in the heart of a mature residential community. Mayor Councillor Liz Frost commented, “State of the art design for accessible living provides our residents with homes that will transform the way in which they live their lives. None of this would be possible without the strong partnership that we have established with Orbit. Its approach to giving the community a development to be proud of, and in managing what has been at times a very difficult project, has been exemplary.”

REDWING | BLUEBROOK Bluebrook is perfectly placed in the semi-rural location of Hambleton, Lancashire. Compromising 17 homes with seven different house styles, the development’s unique boutique-style approach, quality specification and quaintness have all added to its value. Bluebrook is an ideal place for first time buyers to put down roots, live and thrive. In addition to the well-thought-out design of individual properties, the layout design of our Bluebrook site has been meticulously planned to ensure the development is perfectly situated for its village location. Neighbouring an existing affordable homes development, blending seamlessly with the existing units regardless of tenure, the site achieves a community cohesion perfectly placed for Hambleton village’s heavily community-focused atmosphere.

REGENTA | LEYTON PLACE Leyton Place offers a modern collection of six, one and two bedroom apartments, perfectly located on a quiet residential road in the heart of east London. Their design has been implemented to complement existing housing in the area, all the while keeping a smart, contemporary feel. Each apartment has been designed to make the most of modern living and all include high-quality kitchens with integrated appliances, elegant bathrooms and spacious open-plan living areas. The main features include, but aren’t limited to, individual outside spaces to each home, a landscaped communal garden and ample cycle storage. These eco-friendly apartments are inclusive of solar panels to the roof and feature gas central heating, providing first time buyers with desirable and inspiring housing in the capital.

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

COUNTRYSIDE AND L&Q | ACTON GARDENS Recognised as an example of best practice in the Government’s Estate Regeneration National Strategy (2016), Acton Gardens is transforming the architecture, fortunes and reputation of South Acton, while retaining the strong community spirit. A total of 1,800 badly designed homes are being replaced with 3,463 new highquality homes, of which 48% will be affordable, on a tenure-blind basis across 21 development phases. Through a newly revised masterplan, Acton Gardens will now deliver almost a third more social housing than existed before regeneration began, making a huge contribution to local housing needs. Acton Gardens is characterised by a commitment to community engagement; from the multi-phased masterplan, to the four full-time professionals on-site ensuring local resident involvement, and the Community Board that will safeguard the sustainable long-term future of the community. This commitment is highlighted by the on-site apprenticeship schemes and new community facilities, which are ensuring the social and economic sustainability of the area.

L&Q | NEO Part of one of London’s most significant urban regeneration projects, L&Q’s NEO, Stepney, offers first time buyers a rare chance to become part of a flourishing community, in a truly up-and-coming east London district. In 2009, East Thames, now part of the L&Q Group, was appointed to undertake a £220m regeneration of The Ocean Estate, one of London’s most notorious estates. The extraordinary project includes the refurbishment of all 1,200 existing homes, rehousing the vast majority of the area’s residents, while delivering 1,000 new homes for first time buyers. L&Q’s NEO is the latest development of 196 homes to launch, including three bedroom maisonettes available, rarely, for shared ownership. NEO has been a catalyst for unlocking the true potential of Stepney. Drawing first time buyers to one of east London’s most transformative regeneration projects, L&Q has restored the Ocean Estate into an inspiring community for the future.

ST. MODWEN HOMES | COFTON GRANGE St. Modwen Homes’ Cofton Grange offers a stunning collection of 227 three, four and five bedroom homes for people on all stages of the ladder. Cofton Grange is St. Modwen Homes’ fastest selling development to date and is part of the wider £1bn regeneration of the former MG Rover site in Longbridge, Birmingham – one of the largest and most complex brownfield regeneration schemes in the UK. The 468acre site was formerly the Longbridge car plant which collapsed in 2005. The vision for Longbridge is to create a vibrant, sustainable environment where people want to live and work to bring the site back to life. More than half of purchasers stated location as their main reason for buying, 40% of whom were first time buyers. And with 100% of purchasers stating they would happily recommend their new home to a friend, Cofton Grange demonstrates St. Modwen Homes’ success in creating a friendly, inclusive community.

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MOST INNOVATIVE REDEVELOPMENT OF AN EXISITING PROPERTY

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

CATALYST | RUTHERFORD FIELDS Catalyst’s Rutherford Fields residential development is an exceptionally designed new neighbourhood located in Central Bedfordshire, on the site of the former RAF Stanbridge Second World War base. The scheme offers a range of affordable new build homes that are perfectly suited for first time buyers looking to make their first step on the housing ladder. Rutherford Fields offers a wide variety of homes across many different price points, with one and two bedroom apartments on offer, as well as two, three and four bedroom houses. Alongside the development’s significant amount of green space, each of the new houses has its own private garden and the apartment blocks have access to shared gardens. Each home is designed to a high specification with contemporary fitted kitchens, featuring a range of integrated appliances, stylish white sanitaryware with chrome fittings in the family bathroom and some en suites, and energy efficient features throughout.

INSPIRED HOMES | FABRICK Fabrick is a groundbreaking new development of 184 one and two bedroom microapartments. The original six-storey 1960s building, vacant since 2011, has been expertly converted into high-quality residential accommodation featuring a high internal specification and all-new facade that buyers will be proud to show friends and family. Shared social spaces in the form of a rooftop terrace and basement club lounge, flexibly designed to be a co-working space by day and music/event space by night, have been added to offer community living to young professionals looking for a city lifestyle in a laidback Cheshire location. With every square inch of space optimised through clever, hallway-free design, first time buyers can purchase a new home at Fabrick with a deposit of just £6,625 and an annual salary of around £23,000, or as low as £15,000 each if buying as a couple.

ONE HOUSING GROUP | ACTON TOWN HALL This Grade II listed building has undergone extensive redevelopment to create much sought-after residences in the heart of Acton town centre. The Old Town Hall, with its heritage setting and elegant facade, comprises 58 sensitively converted apartments in the existing building and 13 new build apartments situated in a carefully designed extension annexe. These homes are available for outright sale and shared ownership and comprise studio, one, two and three bedroom apartments. Many of the converted apartments have beautiful original wood panelled walls, stunning period features and lofty ceiling heights. The new build apartments are equally well designed and proportioned and have a balcony or a terrace. There is also a beautifully landscaped courtyard which provides an outdoor haven to enjoy.

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BEST FTB MEDIA COVERAGE AFFORDABLE HOMES

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

HOME FOCUS Home Focus is the only independent publication in the UK which specifically focuses on shared ownership. The magazine is produced five times a year and each issue is reviewed by a varied panel of industry experts: from housing association representatives to lawyers and financial advisers. This ensures the information offered is detailed, factually correct and up-to-date, as schemes change over time. The team works hard to ensure Home Focus reaches first time buyers across the country. The website and social media outlets feature daily articles which are informative and interesting to homebuyers. The magazine is a manual on shared ownership schemes (including Help to Buy, Older Person’s Shared Ownership, Help to Buy: ISA etc). Case studies of homebuyers and affordability examples add to the wealth of information provided. The team prides itself on offering relevant advice and advertisements, to help guide first time buyers through the maze of shared ownership.

METRO Metro’s award-winning Property section reaches more first time buyers than any other national newspaper and is an established leader in first time buyer coverage. With more than 1.9 million readers, it both informs and inspires. There are weekly exclusive case studies, the popular My First Home series, where celebrities chat about their first properties, and details of the latest development launches. This year, Metro Property has revealed the UK’s Help to Buy hotspots, detailed the most affordable areas of London for first time buyers, and found a wide range of homes for people with limited deposits. It has also chatted to a 29-year-old property mogul about how she built her portfolio from scratch, investigated the PM’s most recent bid to solve the housing crisis and shown the areas where it really is cheaper to buy than rent. This lively weekly package is delivered in Metro’s jargon-free, nononsense style, with fantastic photography and eye-catching design.

WHATHOUSE? WhatHouse? is a name synonymous with the new homes market – the website has 140,000 unique visitors per month. We list thousands of properties at developments across the UK, many aimed at the first time buyer. We have specific searches for homes available with Help to Buy or through shared ownership. Simply enter the area you’re looking in, and the budget you’re working to, and the site will instantly show a full range of homes to consider. One more click and there are full details and images of the plot and development you’ve chosen, together with the incentives being offered on them. We have up-to-date articles on every aspect of purchasing a first home. So if you want to know everything about those Government-backed assistance schemes, saving for a deposit, mortgages, financial help from the family, conveyancing, moving-in day – even getting the most from visiting a show home – Whathouse.com has it all.

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

LAWCOMM At Lawcomm Solicitors we take pride in providing a valuable service for first time buyers nationwide. We have an established specialist team for new build, Help to Buy and shared ownership transactions, as well as a residential property team. We have been Highly Commended at the First Time Buyer Readers’ Awards 2017 and we are proud to be Award Winners in 2018. We are committed to maintaining our standards and further improving our client and introducer services. Our service includes fixed fees, no move no fee policy, online case tracking and document collaboration for clients and third parties. We also regularly attend customer-facing trade shows including the First Time Buyer Home Show to find out from prospective buyers what questions and concerns they have when purchasing new homes. Our aim is to be one of the UK’s best conveyancing firms and to be at the forefront of accessible electronic conveyancing.

NEW HOMES LAW New Homes Law is an independent, vibrant property law firm specialising in new build and shared ownership conveyancing. Our dedicated conveyancers provide our clients with essential, practical advice from instruction through to completion. We have always offered fixed-fee transactions, feeling that being open and transparent creates trust in relationships, and the fact that we don’t charge fees for clients wishing to use Help to Buy has assisted in defining us against other legal services firms. Working alongside housing associations and developers has given us a good knowledge of what is required in order to keep transactions timely and seamless, and ultimately provide a great customer journey for all clients. New Homes Law completed more than 400 new build transactions in June 2018 and a further 348 in July 2018 without failing to complete on any plot. This shows the amount of effort and care our staff put into their work and how willing they are to support each other.

PRINCE EVANS Prince Evans’ specialist New Build Homes team is dedicated to helping and advising first time buyers take their first step into homeownership. Our experienced and friendly team specialises in the popular shared ownership and Help to Buy products, which means the vast majority of our clients are first time buyers. We offer a service which is personal to the buyer, where they will deal with the same conveyancer from instruction through to completion and are not passed around different departments. We understand that being a first time buyer is a stressful and confusing time and we walk our clients through each stage of the process. We make use of technology and do not require buyers to take time out of their busy schedules to visit our offices (although they are welcome to). Our fees are competitive, but the service we provide is one we are proud of.

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BEST FIRST TIME BUYER APARTMENT AFFORDABLE HOMES

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

APT LIVING | KEW BRIDGE Apt Living’s Kew Bridge development provides a design-led collection of 213 studio, one and two bedroom apartments overlooking Gunnersbury Park. With innovative, space-saving layouts and a high specification, Apt Living has created affordable homes for the aspirational first time buyer. The apartments or ‘apts’ all boast three metre average ceiling heights adding to the sense of space, combined with an intelligent design to maximise the striking views across Gunnersbury Park. All residents also benefit from a wide range of amenities including a 24-hour dedicated concierge, gym, cinema, bike storage, private parking and roof terraces, as well as a dedicated Apt Living app. They also represent excellent value for money in what is a sought-after location where affordable first time buyer options are otherwise limited. All of the homes were available through Help to Buy, giving first time buyers an added boost.

COUNTRYSIDE | ELEMENTS The one bedroom apartment offered by Countryside Properties at Elements in Enfield is an outstanding offering for the first time buyer market. The combination of excellent transportation links, proposed amenities, specification and affordability have proven to be a winning combination that ticks all the right boxes. The apartment is an excellent choice for a first time buyer demographic thanks to the smart layout, quality of its finishes and sophisticated design. The smart layout allows for open-plan living, making it an ideal place for relaxing and entertaining. With Stamp Duty paid for first time buyers and available with London Help to Buy, the one bedroom apartments are an incredible opportunity due to their superb value, with prices starting at £304,995.

JOSEPH HOMES | PAXTON HOUSE With a focus on innovative contemporary design, Paxton House provides 43 stylish apartments ideal for first time buyers and is conveniently located a minute’s walk from Norwood Junction railway station. Creatively repurposing a former office building, the nine studios, 28 one bedroom and six two bedroom apartments have created superior modern homes for purchasers who care about style as well as value. Layouts allow virtually all properties to benefit from a dual aspect, ensuring interiors are light and bright, helped by the fact that living spaces are either south or west facing, with private balconies. Inside, the homes offer spacious living and entertaining accommodation with good-sized rooms and well-designed layouts. Open-plan living and kitchen areas are finished with a market-leading specification for the local area. Creating a community was an important factor, so a generous communal lounge, rear courtyard and rooftop terrace provide attractive spaces to socialise with neighbours.

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OCTAVIA LIVING | WITLEY WHARF

READERS’ AWARDS

Flat 7, Witley Wharf – For modern canal-side living in the cultural heart of west London, in an area that will soon benefit from the new Elizabeth Line, first time buyers need look no further than Octavia’s Whitley Wharf in Southall for a stylish and affordable shared ownership home. Situated next to the Grand Union Canal, Whitley Wharf is a medium-sized development of 46 apartments in two low-rise blocks, adjacent to both the north side of the canal and a former wharf. Tucked away from busy roads and the bustle of central Southall, a two bedroom apartment on this development offers a calm location for people seeking somewhere a little quieter to live but still with good amenities nearby and excellent transport links to central London.

PEABODY | THE LEVERS Taking architectural inspiration from the historic Victorian facade of Walworth Road, The Levers is a brilliant collection of 55 modern apartments, with 45 remaining, designed specifically with first time buyers in mind. The collection is moments from Elephant & Castle, on the cusp of Zone 1. Residents at The Levers benefit from high-quality specifications, with engineered oak flooring throughout the living areas, integrated kitchen appliances and modern bathroom suites; creating homes that offer the perfect place to entertain or unwind.

SOUTHERN HOUSING GROUP | ARTISAN Nestled in the creative hub of Hove’s Seven Dials district, Southern Housing Group’s Artisan is an impressive collection of 42 perfectly crafted one, two and three bedroom shared ownership apartments. Internationally renowned architects Broadway Maylan designed the scheme with Brighton and Hove’s creative community in mind, incorporating ‘hand-made’ touches throughout, while maintaining a slick contemporary feel. For example, exterior detailing includes attractive artisan traditional-style railings, seamlessly blended with a contemporary brick facade, while interiors offer a bespoke feel.

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BEST LARGE DEVELOPMENT AFFORDABLE HOMES

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

COUNTRYSIDE AND L&Q | BEAULIEU Beaulieu is a joint venture between Countryside and L&Q. Set in an area that was once the hunting grounds of King Henry VIII, the vision for Beaulieu was to create a vibrant new integrated community for the city of Chelmsford, bringing together 3,600 quality new homes in a range of styles to suit different tastes, preferences and income levels. To achieve its vision, the development offers a blend of inspirational architecture, well-maintained landscape and open space, a plethora of amenities, new transport connections, sports clubs, community gardens and more. Beaulieu is a perfect destination for young couples or families, offering three distinct residential neighbourhoods, each with its own character. These range from traditional, colonialstyle through to über-modern, meaning there’s a home to suit every taste. Making up the development are: Beaulieu Keep, Beaulieu Heath and Beaulieu Oaks. Beaulieu has been designed for community living, with the three different neighbourhoods being planned around a neighbourhood centre – Beaulieu Square.

KIER EASTERN LIVING | THE FAIRWAYS Nestled in a new community is The Fairways, a collection of new homes ranging from two bedroom apartments to four bedroom detached houses. These carefully crafted homes have been built to the highest specification, with a heavy focus on achieving value and low running costs. At the launch of phase one, prices started from £139,995 and have been available through various schemes, including Help to Buy and Stamp Duty incentives. Priors Hall Park is a new 1,200-acre community, with over 500 acres of parkland to enjoy with its various cycle paths and woodland walks. Just 10 minutes by car, Corby offers a number of amenities, including several supermarkets, banks, surgeries, dental practices and a post office. It’s ideally located to reach major towns and cities, including Sheffield, Leeds and London. There are also a number of Corby schools nearby, including Corby Old Village Primary School, Corby Technical School and Kingswood Secondary Academy.

KIER EASTERN LIVING | OAKTHORPE In the picturesque cathedral city of Peterborough lies Oakthorpe, an impressive collection of new homes ranging from two bedroom apartments to four bedroom houses. Its modern open-plan design appeals to first time buyers, oozing quality and character while benefiting from value and a great location. Oakthorpe sits at the site of the former Peterborough District Hospital, providing major regeneration to a prime Peterborough area. Kier also helped deliver the new building for West Town Primary Academy in 2015 to provide space for additional pupils. Just 17 homes are left on phase two, with prices at launch starting from £149,995. A number of schemes to assist first time buyers have been available from launch, including Help to Buy and Stamp Duty incentives. So far, 27 of the 43 buyers have been first time buyers. Peterborough’s city centre, just a short walk from home, offers a number of historical attractions, shopping and entertainment options and plenty of restaurants.

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LONDON GREEN | UNION PARK

READERS’ AWARDS

Set along the Grand Union Canal, Union Park is an exclusive development of 251 studio, one, two and three bedroom apartments in West Drayton, west London. Ideal for first time buyers, the new homes by London Green boast views over the water and surrounding neighbourhood, while benefiting from close proximity to local amenities and transport links. Available through the London Help to Buy scheme, prices at Union Park start from £225,000 for a studio apartment and £350,000 for a two bedroom. The apartments are being delivered over two phases, with 84 of the homes in the first phase purchased by first time buyers and 58 in the second phase so far. London Green is a property development and investment firm with a strong track record in delivering high-quality residential schemes across London. Its experience, knowledge and agility allow it to harness the potential of complex sites, delivering much-needed housing.

PLUMLIFE | ARKWRIGHT PLACE Arkwright Place in Gorton, Manchester, is Plumlife’s flagship development of 131 homes located just outside the city centre. Delivered by Cube Homes, the development consists of six house types (detached and semi-detached), with two, three and four bedroom homes all available to buy outright, or alternatively through shared ownership or the Help to Buy: Equity Loan scheme. The desirable location, excellent transport links and affordable price tags, combined with the contemporary design, means these homes are in high demand, with over 40% already sold — a third of them to the first time buyer market.

SOUTHERN HOUSING GROUP | BOW RIVER VILLAGE Offering a chance to purchase a home within an already thriving new community for first time buyers, stage two of Southern Housing Group’s Bow River Village, a major mixed tenure development that is leading the regeneration of Bromley-byBow, builds on one of the housing association’s most successful schemes to date. Replacing a collection of derelict warehouses, the development sits in a formerly disused area alongside the River Lea. Significantly upgrading the locality, the scheme creates a substantial new public realm and play spaces, with a dramatically improved riverside walk and the highest quality housing – home to a thriving and growing new community of first time buyers, young couples and families.

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BEST ARCHITECTURAL DESIGN AFFORDABLE HOMES

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

HIGGINS HOMES | THE RESERVE Designed with a crisp, clean Scandinavian feel, with steep gables, generously proportioned upright windows and weatherboarding, The Reserve in Waltham Cross, Hertfordshire, is an exciting development which has its own distinctive appearance and character that gives an elegant, modern twist to the town’s architecture. Offering an extensive collection of 90 three, four and five bedroom houses with 10 different house types, the development is surrounded by beautifully landscaped green spaces and enjoys a fantastic location. Within a short walk of the town centre and train station, direct connections to London Liverpool Street take under 30 minutes. Adjacent to the 10,000-acre Lea Valley Regional Park, the development offers a stunning environment for residents and the wider community to enjoy, with features such as wetland areas including ponds and swales. These also create both a sustainable urban drainage system and a diverse range of habitats to encourage biodiversity and help wildlife to flourish.

ORBIT | HOLLYMOOR PLACE Hollymoor Place, Epsom, Surrey, is the result of Orbit working collaboratively with partners Epsom & Ewell Borough Council and United Living, to provide much needed affordable homes in the area. It provides Epsom with 30 new affordable homes, and a convenience store, on a previously derelict site, long considered to be an eyesore and security risk to the tight-knit community of the surrounding Longmead Estate. The design of any new development in the heart of an existing community needs to be sympathetically handled, so Hollymoor Place was created to harmonise with surrounding homes, and provide a landmark, environmentally conscious development, which would help to inspire residents, serve the community and regenerate the area. Shina Olalekan, Head of Development at Orbit, who lives in Epsom himself, comments, “The existing building was very unpopular, yet the location was perfect for something truly inspiring. Hollymoor Place has completely transformed the area.”

PEABODY | THE LEVERS Located on the cusp of Zone 1 and moments from Elephant & Castle, The Levers comprises 55 high-quality one, two and three bedroom homes for shared ownership, affordable rent and private sale with Help to Buy. Uniquely designed to be inclusive for all tenures, with shared communal space and entrances, residents also benefit from the same high-quality specification, with engineered oak flooring throughout the living areas, integrated kitchen appliances and modern bathroom suites; offering homes that are the perfect place to entertain or unwind.

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BEST SUPPLIER TO THE FTB MARKET

THIS AWARD GOES TO A SERVICE, COMPANY OR AGENCY THAT SUPPORTS THE FIRST TIME BUYER INDUSTRY. THIS COULD BE A PRODUCT OR SERVICE THAT HELPS TO SUPPORT AND PROMOTE THE MESSAGE OF HOMEOWNERSHIP.

CENSEO Censeo Financial is a multi award-winning retail financial services company based in the City of London specialising in arranging mortgages for affordable homes. We are a branded proposition recognised for our commitment to shared ownership and affordable housing. The company was set up in 2007 to provide a mortgage advice service tailored to meet the specific needs of both prospective purchasers and developers of affordable homes. Over the past decade Censeo has helped thousands of people into their new homes, while at the same time saving housing associations millions of pounds, through our innovative approach in retail financial services. We have two key stakeholders – our housing association and developer clients plus our customers. We are continually investing in innovation to ensure both of these audiences get a consistently high-quality customer journey.

SHARE TO BUY A brand name that has become synonymous with shared ownership, the innovative and ever evolving Share to Buy is the UK’s best-established online portal for first time buyer homes. Since its launch over a decade ago, the portal has become an unrivalled one-stop-shop for first time buyers looking to navigate the often-complex world of affordable homeownership. Partnering with over 100 leading housing providers and offering the UK’s most comprehensive listing of first time buyer homes, alongside excellent, impartial resources on shared ownership, Help to Buy, and applying for shared ownership mortgages, Share to Buy is one of the sector’s most trusted partners and affordable homeownership champions.

SITESALES SiteSales Property Group has been supporting first time buyers for almost 30 years, offering new affordable properties for outright sale, shared ownership, shared equity, subsidised rental and via Government schemes such as Help to Buy. Much more than just an estate agency, we provide unrivalled customer service from the first enquiry through to the first anniversary and beyond. Our staff frequently work alongside the developer’s in-house team, providing continuity and a friendly face throughout the buying process. Then, when the purchase is complete, our innovative New Home Demonstration and New Home User Guide ensure that first time buyers feel confident and settled straight away. We even include a full 12 months of aftercare, with a 24-hour hotline, in the unlikely event of any problems. As we also build our own homes for sale through our sister company, Regenta, our experience means we can support first time buyers every step of the way to homeownership.

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MOST INNOVATIVE MARKETING CAMPAIGN AFFORDABLE HOMES

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

TIDYWORK STUDIO

NOTTING HILL GENESIS Newly formed in April 2018, Notting Hill Genesis is one of the largest developers of new build homes in London, providing customers with an extensive programme of new build shared ownership properties as well as private sale and Help to Buy. With a drive to build new homes that meet a wide range of housing needs at its core, this year Notting Hill Genesis established a dynamic new marketing campaign, successfully presenting a range of attractive homeownership products to carefully considered audiences, while raising awareness of its new sales brand. Using a combination of captivating content across digital, print and outdoor media, it was vital that the campaign made an impact, was jargon-free and connected with first time and other buyers, inspiring people to want to learn more about Notting Hill Genesis and how they could realise their homeownership aspirations. It delivered 123 reservations in its first few months.

PEABODY Merchants Walk, Peabody’s flagship regeneration in Bow, London E3, transformed a disused site into a community of 413 new homes, with 50% affordable housing. The innovative ‘Walk it, Work it, Live it’ campaign helped 240 FTBs on to the property ladder, encapsulating Peabody’s commitment to providing affordable homeownership opportunities. The primary objective was to help as many FTBs as possible, with shared ownership starting from just £126,000 (35% share) and Help to Buy from £355,000. The campaign positioned the core audience at the forefront and was carried out through all forms of media, with a particular emphasis on social media. Through gaining a true understanding of its audience and by balancing the science and art of marketing, Peabody far exceeded objectives and delivered undeniable ROI, generating 5,845 enquiries, an incredibly low cost-per-lead of just £38.11, and crucially selling 95% prior to completion.

SHARED OWNERSHIP WEEK | THE ORACLE GROUP & THE MEDIA PEOPLE A week of the year dedicated to making the dream of owning a home a reality, Shared Ownership Week 2018 was marked with a dynamic integrative marketing campaign. An effective combination of print media partnerships, traditional PR, digital activity and advertising was employed, successfully educating millions about the scheme’s benefits. The event ensured that the target audience’s social media and daily press was flooded with information during the seven days by partnering with key media. Tailored content was created for each title, providing readers with inspirational editorial. Considered celebrity endorsement was also key to the project. Broadcaster Reggie Yates was recruited to front the campaign, providing another platform for the campaign’s messages and a relatable tone. The tactical execution of this year’s campaign saw it reach a wider audience than ever before. Overall, this success prompted a total of 17,155 unique users to the Shared Ownership website, generating over 1,000 new leads.

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BEST SHOW HOME AFFORDABLE HOMES

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

INSPIRED HOMES | INNOVA Innova is a new development in Croydon comprising 197 one and two bedroom micro-apartments with a further 29 one, two and three bedroom apartments and duplexes on the top floors – the Nova Collection. Innova offers first time buyers a new dimension in urban living with hallway-free interiors and a high-end specification that includes granite kitchen worktops, Hansgrohe taps, Villeroy & Boch sanitaryware and hardwood engineered floors as well as useful tech including Learning Thermostats by Nest and Hyperoptic, the UK’s fastest broadband. At just 30 square metres, the show home represents our smallest micro-apartment at Innova and the hardest to furnish. Local Croydon-based interior stylist Sarah Akwisombe, in her early 30s, targets buyers of a similar demographic, late millennials between 25 and 35, tapping into the “Cronx” vibe, creating a young, fresh space that turns the concept of a traditional developer’s show apartment on its head.

L&Q | L&Q @ THE DENHAM FILM STUDIOS Home to one of L&Q’s most unique show homes, L&Q @ The Denham Film Studios is a premium collection of 27 one and two bedroom shared ownership apartments, offering a pocket of affordability for first time buyers in the picturesque Buckinghamshire countryside. Once known as the ‘Hollywood of the Home Counties’, the surviving Grade II Listed laboratory was formerly home to some of the world’s greatest film franchises. Thoughtfully designed to reflect the site’s cinematic history, the show home weaves an opulent gold and bronze motif throughout the home, with art deco accents and Hollywood-inspired furnishings.

MILLER HOMES | SOVEREIGN PARK On the southern edge of Shrewsbury, the Sovereign Park development offers a range of two to four bedroom homes, in a beautifully landscaped community. With first time buyers in mind, the team at Miller Homes chose the dual-aspect, three bedroom Morley house type as one of its showhomes. This showhome is proof that those taking their first steps on the property ladder do not have to compromise on space, luxury or architectural aesthetic, with 66% of the Morley-style properties built on the development being purchased by this cohort of buyers. The interior has been decorated to inspire buyers with on-trend colours, featuring a grey palette with injections of yellow and teal, and accessories to maximise the space. Furnishings and accessories have been carefully selected to reflect items which could be purchased on the high street or online, showing first time buyers how they can make the most of their budget.

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ORBIT | VICTORIA QUARTER

READERS’ AWARDS

Orbit is committed to ensuring that all its customers enjoy comfortable, economic, and well-equipped homes, from the moment they move in. This is reflected in the approach it takes to its show homes. At Victoria Quarter in Ashford, Kent, a large house was fitted out to showcase the finishes, kitchen and bathroom fittings that are available, as standard within the purchase price, to buyers of all types of property at the development, from one bedroom apartments to five bedroom houses, whether purchased through shared ownership or outright sale. All homes include fully fitted Symphony kitchens with tiled floors, Electrolux integrated fridge-freezers and electric ovens, gas hobs, extractor hoods and stainless steel splashbacks. Bathrooms have Porcelanosa tiled floors, Roca sanitaryware, chrome ladder towel-rails and shaver points as standard, and all homes have tiled and carpeted floors throughout, with gardens laid to lawn and including a cycle store.

PEABODY | WEST VIEW BATTERSEA The charming show apartment at West View Battersea offers interior design inspiration; showing buyers how to unlock the most potential out of their home on a first time buyer budget. From the statement golden-metallic wallpaper that added personality and elegance to the space, to space-maximising solutions such as the simple, wall-mounted dining bench; the show apartment demonstrated how first time buyers could truly make their mark on their home at a reduced cost. In collaboration with Suna, Peabody designed a show apartment that exceeded expectations and helped sell almost 40% of homes off-plan. As a result of several positive comments and requests to own the furniture, Peabody was delighted to sell the furniture of the show home to a first time buyer at less than a third of its original value; allowing the buyer to enjoy the decor without financial concerns of sourcing furniture for their new home.

SOUTHERN HOUSING GROUP | DALMENY AVENUE Southern Housing Group’s Dalmeny Avenue is a premium collection of one, two, and three bedroom apartments in one of north London’s most exciting neighbourhoods. Islington is attracting the city’s young, entrepreneurial professionals, and Dalmeny Avenue is the stylish, contemporary, and affordable home these first time buyers are looking for. To create a truly aspirational show home with an affordable-luxury feel, Southern Housing Group appointed Suna Interior Design to deliver a scheme that would be as individual as Dalmeny Avenue’s buyers. The result is a show home designed with flair to appeal to those creating their first home, with an eye-catching colour theme throughout of on-trend emerald, complemented by soft blush. On entering the home, it is immediately apparent that the choice in accessories was inspired by the average stylish first time buyer budget; succeeding in Southern Housing Group’s desire to utilise accessible style, and remind first time buyers that sophisticated home design can be theirs as well.

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BEST FIRST TIME BUYER FAMILY HOME AFFORDABLE HOMES

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

ALLISON HOMES | NETTLEHAM CHASE Allison Homes’ newest development in Lincolnshire is Nettleham Chase in Nettleham village. The new homes are thoughtfully designed and traditionally built to a high standard with a range of two, three, four and five bedroom properties to choose from. The four bedroom Folkingham type chalet bungalow is ideal for families, thanks to its generously proportioned rooms, en suite bathrooms, range of reception rooms and overall layout. Bungalows provide the ideal family space. Everyone living on the same level really boosts communication and family life in general benefits. Set in ample plots, bungalows give families room to breathe. Bungalows maximise use of floor space to provide plenty of room to spread out and enjoy life, including space for ‘privacy time’ as well as entertaining friends and family. Nestling in the hills of Lincoln Edge, Nettleham has a range of amenities for families, while commuting to Lincoln is easy.

COUNTRYSIDE | THE ALLWARD The Allward is a two bedroom family house offered by Countryside Properties (and in a joint venture with Home Group) as part of its highly regarded regeneration scheme Atelier in Harlow, Essex. This new project is aimed at providing high-quality mixed-tenure homes by replacing outdated post-war bungalows, making sure the new homes are well designed, genuinely affordable and attractive for first time buyers. The Allward, an energy-efficient 704 sq ft home, is an ideal choice for a first time buyer thanks to its excellent specification, sleek design and smart layout. Furthermore, the inclusion of high-quality flooring throughout and integrated kitchen appliances makes buying your first home even easier. Set over two floors, this house benefits from a considerate layout and ample space, as well as a rear garden, making it an ideal place for relaxing and entertaining.

L&Q | THE QUARRY Set within stunning retained ecological areas and newly provided open space, The Quarry, a joint venture eco-development by L&Q and The Anderson Group, will breathe new life into the site of a former quarry in Erith, Bexley, which has lain neglected for the past 30 years. Designed by multi-award winning architects Studio Egret West; when complete, the development will consist of 600 eco-friendly homes, as well as a state-of-the-art, three-form-entry primary school – using the steep gradient and unique topography of the site to create a truly exceptional scheme in south east London. The majority of the contemporary homes at The Quarry are specifically aimed at families, with the unique mix of high-quality housing inspiring a true community feel. Competitively priced, all homes are available through either shared ownership or London Help to Buy, making them ideal for first time buyers.

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LOVELL | BURLEY

READERS’ AWARDS

The three bedroom semi-detached Burley is a fantastic family home for first time buyers, featuring a large kitchen with dining area, spacious living room, rear patio and garden, family bathroom and en suite to the master bedroom. It features a highquality specification throughout, which includes premium brand name appliances such as Zanussi, with ceramic tiling from Porcelanosa Symphony. Affordably priced for first time buyers at £214,995, purchasers can also take advantage of the Government’s Help to Buy: Equity Loan. Offering stylish living and exceptional value in a prime location in Clayton-Le-Woods, Oaktree Grange by Lovell Homes has a selection of contemporary three, four and five bedroom family homes. Situated within easy reach of the M6 and close to Leyland train station, Oaktree Grange includes a playground and a wealth of open space – making it ideal for growing families, where residents belong to a community but still enjoy their own privacy.

MILLER HOMES NORTH WEST | THE TOLKIEN The Tolkien at Croston Meadow is an elegantly designed three bedroom home ideal for first time purchasers with families. Offering the perfect balance of space, convenience and style, the Tolkien is a bright and airy home with a unique benefit for families in that it offers accommodation across three floors. Croston Meadow is a prestigious community, combining rural appeal with the everyday conveniences of day-to-day life, such as nearby supermarkets, doctors’ surgeries, as well as The Little Farm Shop that sells locally sourced produce.

OPTIVO | RIDGEVIEW The three bedroom homes at Ridgeview combine carefully considered design details with the highest quality fittings, creating contemporary family homes ideal for first time buyers. Situated in the picturesque Kent village of Greenhithe, houses at Ridgeview are in a highly desirable location for families, close to excellent transport links and schools. Optivo has ensured the three bedroom homes encompass all the essentials for the modern family lifestyle, even including a large garden for children and pets to enjoy. The ground floor offers a generously sized kitchen with a variety of integrated appliances, and a light and airy dual-aspect combined living and dining area, so adults and children can socialise together. A sizeable store room, airing cupboard and downstairs toilet complete the ground floor amenities, assisting parents by placing all necessities on one level. The homes were available with shared ownership starting at £370,000 with a 30% initial share.

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BEST NEW DEVELOPMENT IN THE NORTH AFFORDABLE HOMES

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

PERSONA | MEAUX RISE Meaux Rise is a collection of design-led two, three and four bedroom homes in Kingswood, Hull. Persona, part of Home Group, has thoughtfully designed its homes to consider every little detail that matters; rather than being concerned by how many houses it can squeeze in, the company focuses on how they make you feel. What others see as extras, Persona sees as standard. Each home benefits from a high-quality specification and choices inclusive of the price, so there is no need to pay extra for upgrades. Customers will also enjoy larger than average gardens, double-height spaces with vaulted ceilings, beautiful bi-folding doors and much more. Meaux Rise stands out in the market place, offering more space between each home, a distinctive exterior design and great quality at an affordable price – which makes these homes perfect for first time buyers.

LOVELL | WEAVER PARK Weaver Park, Lovell Homes’ latest phase at Platting Village in Manchester, is part of a ground-breaking development which has seen an inner-city housing estate in a previously neglected area of East Manchester transformed into a thriving urban village, with a reserve list to cope with demand for new homes. With 129 properties ranging from two bedroom apartments to two, three and four bedroom homes, where prices for two bedroom homes have started from £178,950, Weaver Park is the ideal place for first time buyers to take that first step on to the property ladder. Ideally located on the edge of Manchester city centre, and close to primary and secondary schools, a number of parks and Sports City, this development combines traditional family values with the best in modern, contemporary living. Sustainability has also been a key focus, with every possible step taken to ensure an eco-friendly lifestyle is at the forefront.

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READERS’ AWARDS 2019

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RIVERSIDE | CHISLEHURST

READERS’ AWARDS

Chislehurst in Belle Vale, Liverpool, is one of Riverside’s latest developments in Merseyside, made up of 29 two and three bedroom affordable homes. With five property sizes and styles available through shared ownership, Riverside Home Ownership offered first time buyers and other eligible purchasers the opportunity to get on to the property ladder in this popular and well connected suburb. Riverside has been committed to this particular neighbourhood for over 20 years, supplying much needed new homes to help meet an ever-growing demand. Shared ownership means purchasers buy the share they can afford and pay a reduced monthly rent on the remainder to the housing association, with the option to own outright in the future. The properties at Chislehurst are built to a very high specification, with quality finishes throughout including carpets, ceramic tiling and kitchen appliances all as standard. Buyers also benefit from advice and support from RHO’s expert team throughout the whole process and beyond.

SOUTHWAY | PARK VIEW Park View is a state-of-the-art development with a collection of two and three bedroom homes close to Manchester city centre. Built on a derelict Brownfield site causing nuisance to neighbours, the 46 property, shared ownership development has entirely transformed the look and feel of the area. Each home is built to a high specification, considering economy and efficiency throughout. The ground floor of each includes a generous lounge, integrated kitchen/dining area and downstairs WC, while the first floor has spacious bedrooms and a well-proportioned family bathroom. Within walking distance of many green spaces, like Delamere Park, Debdale Park and Openshaw Park, the site is also next to Gorton train station offering a 10-minute direct train ride into Manchester city centre! It also has quick access to the M60, meaning residents can travel to neighbouring towns with ease making it the ideal spot for families and first time buyers.

ST. MODWEN HOMES | EGSTOW PARK Egstow Park in Clay Cross is a stunning new development of two, three and four bedroom homes delivered by St. Modwen Homes. The new homes form part of St. Modwen’s larger regeneration at Clay Cross which is transforming the former Biwater industrial site into a brand new community. The developer’s vision is to create a vibrant, sustainable environment where people want to live, work and relax, to bring the site back to life. Once complete, it will deliver a total of 840 new homes (148 of which St. Modwen Homes is building at Egstow Park), new shops, children’s play area and plenty of open green space for residents to enjoy. To date, St. Modwen has delivered a 1,900 sq ft sports pavilion and local sports facilities, as well as a Marston’s family pub and restaurant.

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BEST NEW DEVELOPMENT IN THE SOUTH AFFORDABLE HOMES

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

CLARION HOUSING | UNITY GARDENS During a time when the South East faces a chronic housing shortage, Clarion Housing’s Unity Gardens development provides a ray of hope – particularly for those on lower incomes. The development forms an early part of the Government’s flagship new Ebbsfleet Garden City in Kent, which, when complete, will deliver around 17 million sq ft of development, including the creation of up to 15,000 new homes, commercial, retail and leisure space, new schools (one of which is already open) and community facilities, as well as up to 20,000 new jobs, all set within the beauty of the area’s former quarries.

COUNTRYSIDE | ROCHESTER RIVERSIDE Rochester Riverside is a £419m joint venture between Countryside and Hyde that is transforming a 50-acre brownfield site into a new riverside destination for Medway, providing approximately 1,400 new homes. This flagship regeneration project is breathing new life into this historic part of Medway and providing vital new homes and amenities for the area’s first time buyers. The project is anticipated to complete in around 2030, with the first homes due to be ready later this year. Each home is contemporary in style – created to appeal to design-conscious first time buyers, while thoughtful interior layouts maximise space and light. Open-plan and generous living areas have been designed to create flexible and welcoming spaces. Thoughtfully designed and with a high-quality finish and specification, interiors are long-lasting and easy to manage for the busy life of a first time buyer.

DAVID WILSON HOMES | CANE HILL PARK Cane Hill Park, located in Coulsdon, is uniquely situated to be able to offer first time buyers the benefits of both country-style living combined with a close proximity to central London. This 205-acre former hospital site has been redesigned by housebuilder David Wilson Homes to offer a sustainable new community of 677 homes, with a focus on affordable family living. With a selection of modern homes available to purchase using the Government-backed 40% Help to Buy: Equity Loan scheme, first time buyers are discovering that the outer boroughs of London will offer them better value for money without having to face a lengthy commute. Set back within a mature woodland setting, Cane Hill Park features its own village green that will form the heart of an attractive walking and cycling route that leads to Coulsdon town centre and railway station, which offers services to London Victoria and St Pancras.

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READERS’ AWARDS 2019

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INLAND HOMES | MERIDIAN WATERSIDE

READERS’ AWARDS

Meridian Waterside is a modern waterfront neighbourhood in a prime position on the banks of the River Itchen, just minutes from Southampton’s bustling city centre, comprising 352 new homes and more than 5,400 sq ft of commercial space. This stunning new landmark development offers first time buyers a superb range of high quality apartments. Phases one and two comprised 96 one, two and three bedroom homes, with over 70% selling to first time buyers. Phases three and four will feature waterside apartments, with phase three currently underway. Each property interior has been designed to achieve a careful balance between luxury, functionality, and affordability to appeal to an increasingly discerning market. Meridian Waterside is one of Southampton’s major development projects, enhancing the Itchen riverfront and creating a new gateway to the city from the east. The estimated completion date for Meridian Waterside is 2021.

L&Q | PARKLANDS @ BARKING RIVERSIDE One of the UK’s largest and most significant new developments, Barking Riverside is set to transform an extraordinary 2km stretch of Thames frontage into a brand new 21st century community. L&Q’s Parklands at Barking Riverside is a collection of 300 homes, consisting of 188 shared ownership homes and 112 private sale units – all available through London Help to Buy – and part of the overall Barking Riverside masterplan, designed by award-winning urban design practice Lifschutz Davidson and Sandilands. A joint venture between L&Q and The Mayor of London, Barking Riverside will grow to a community of 30,000 people over the next 15 years, with 10,800 new homes and 65,000 sq m of commercial space built on the 443 acre site. L&Q’s Parklands allows first time buyers to buy at the very start of this vision.

ORIGIN HOUSING & HILL | ECHO ONE A stylish new development in the heart of Harrow, Echo One, a joint venture from Origin Housing and Hill, comprises 29 shared ownership and 69 private sale homes as well as 18 affordable rented homes. The development has been designed to help purchasers make the most of apartment living. It offers well-proportioned homes, which feature bespoke high-quality design, with access to a secluded communal courtyard, in an exceptionally convenient location – just moments from South Harrow underground station. Replacing an unattractive and underused office block, the brownfield scheme has been designed by the award-winning Moss Architects, and will act as a new landmark on the buzzing Northolt Road. Featuring a striking facade of traditional brickwork blended with contemporary opaque glass balconies, the building will bring a new lease of life into a rapidly regenerating area.

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BEST OFF-PLAN DEVELOPMENT AFFORDABLE HOMES

THIS AWARD WILL BE LOOKING TO RECOGNISE A DEVELOPMENT THAT HAS NOT YET BEEN BUILT/COMPLETED BUT OFFERS GREAT POTENTIAL TO FIRST TIME BUYERS.

BARRATT HOMES AND VIVID HOMES | THE WHITE BUILDING Once the site of a prominent pharmaceutical factory, The White Building remains a cherished part of Basingstoke’s wartime heritage. The site is now being offered a new lease of life by housebuilder Barratt Homes and Vivid Homes as part of the successful Chapel Gate development. The building is being lovingly restored to offer an exclusive collection of one and two bedroom apartments ideally designed to meet the needs of today’s first time buyer. With the homes at The White Building available to purchase using schemes including Help to Buy and shared ownership, first time buyers will also benefit from additional features that will help to reduce upfront costs, including a high-quality finish in each home, which includes contemporary fitted kitchens and pre-installed flooring. Chapel Gate is conveniently located just a five-minute walk from Basingstoke railway station, which offers a speedy commute into Waterloo and Reading, alongside access key road links including the M3.

L&Q | PARKLANDS @ BARKING RIVERSIDE Set alongside 2km of stunning Thames river frontage, Barking Riverside is one of the UK’s largest and most significant new developments. A joint venture between L&Q and The Mayor of London, Barking Riverside will grow to house 30,000 people over the next 15 years, with 10,800 new homes and 65,000 sq m of commercial space set to be built on the 443-acre site – creating a brand-new community in East London. Parklands, the first phase of 300 off-plan homes by L&Q, all available through either shared ownership or Help to Buy, offers an unrivalled investment opportunity and variety of choice for first time buyers in London. With high-quality yet affordable homes and an innovative and impressive approach to sales, L&Q is helping first time buyers visualise Barking Riverside – a brand new east London riverside town surrounded by green space, local facilities and excellent connections into London.

STRAWBERRY STAR HOMES | LU2ON A residential mixed-use development, LU2ON, by Strawberry Star Homes, offers London lifestyle in Luton for first time buyers. It comprises more than 785 residential units (suites, one bedroom and two bedroom), roof gardens, large public realm, 8,000 sq ft gym facility, 49,600 sq ft retail space, boutique shops, restaurants and bars, a 4-star hotel (200-plus rooms) including banqueting facility, car parking spaces and 24-hour concierge services. Provisions are made to include a supermarket, childcare and a pharmacy. Apartments are more affordable than in London and other major commuter towns; prices start from £185,000, achievable for first time buyers. Spread over 6.8 acres, construction work commenced in May 2018 with phase one due for completion in 2021. LU2ON is located near Luton Airport Parkway station, which connects to King’s Cross St Pancras in under 23 minutes by train, ideal for FTBs and London’s commuting professionals.

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PRIVATE DEVELOPER OF THE YEAR AFFORDABLE HOMES

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

COUNTRYSIDE This year, Countryside celebrated 60 years since it was founded, in which time it has established itself as one of the UK’s leading housebuilders, specialising in building communities, not just houses. 2018 was an outstanding year of growth for Countryside: the 12 months to 30 September 2018 saw the Group become the UK’s fastest-growing listed homebuilder, exceeding the targets it set at the time of its IPO in 2016. A 27% uplift in completions led to adjusted revenue of £1,229.5m in 2018 – an increase of 20% on the previous year – with an adjusted operating profit increasing by 28% to £211.4m. Countryside continues to uphold its reputation for quality product, offering comprehensive customer service, while maintaining continued focus on health and safety processes. Countryside looks forward to building on this year’s prosperity, while continuing to cater to customer and local communities’ needs and creating Places People Love.

HIGGINS HOMES Higgins Homes has been designing and building homes in London and the South East for more than 50 years. This family-run and owned company has built its reputation on understanding the importance of individuality, reliability and quality. Be it first time buyer apartments or family homes, the design and architectural teams at Higgins Homes will maximise space and react quickly to innovation. Higgins Homes approaches each development to complement and enhance its location, meaning every development has unique, high-quality homes. There are no standard house or apartment types, the design of each home will depend on the location and the needs and preferences of the ultimate owner. This design-led approach to building includes open-plan layouts, large windows to create lightfilled rooms, as well as generous storage and private outside space. The open space is complemented with a specification that is designed to be beautiful, functional and generous.

REGENTA Regenta Development is the house building division of SiteSales Property Group, and has been designing and building spacious, high-specification homes since 2013. At Regenta, we have 60 staff, and we pride ourselves on taking care of the whole development process from acquiring the land, to handing over the keys to the new owner, to our exemplary year-long aftercare. Every project we undertake is unique, focusing on superior design, high-quality construction and attractive architecture. Inside, the well thought-out layouts, spacious living areas and good quality finishes set our properties apart from the competition. In our first five years we have built more than 100 new homes; at Leyton Place in E10, all six luxury apartments sold within three hours at the launch event, while at Gilpin Mews in Ware, eight out of 10 new families moved in on the same weekend, proving just how popular our developments are with buyers.

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AFFORDABLE HOUSING PROVIDER OF THE YEAR AFFORDABLE HOMES

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

METROPOLITAN THAMES VALLEY Metropolitan Thames Valley, the new partnership, has its sights set on being a catalyst for change and is already proving a game-changer in the affordable housing sector. Set to deliver 2,000 homes this year (80% to be affordable), MTV is helping to make homeownership possible for thousands more first time buyers. With housing at the centre of many of society’s challenges, MTV is thinking big with a bold range of initiatives to improve things for its customers and communities. These include pioneering partnerships with housebuilders and the NHS, the appointment of a new Customer Insight Director focused on empowering customers and establishing a resident’s consultation panel. MTV also recognises that while innovation and commercial focus are essential, it must retain the social angle. As such, MTV was the UK’s first HA to go through the new tenant’s ballot process in 2018. MTV is embracing technology to make the customer journey seamless, but also recognises that nothing beats speaking to a human, and tailors its service to each individual customer, targeting each in the most meaningful way.

OCTAVIA We manage just over 5,000 homes – the majority of them for social housing rent. Inspired by our founder, the social reformer Octavia Hill, we have been managing homes for 150 years. We believe in the value of mixed communities and in giving people on lower incomes the opportunity to stay living close to where they work or have longstanding social ties. Through our subsidiary Octavia Living, we develop homes for private sale, homes for shared ownership and homes for intermediate rent. All revenue from property sales is reinvested into building more affordable housing. We provide personalised support for our shared ownership buyers throughout the buying process. We also support shared owners with staircasing or moving to a larger home. Our developments are in some of the most highly valued property areas in the country, so we have learned to be innovative with providing good quality housing, which is as affordable as possible for our residents.

ORBIT Orbit works with local housing authorities to deliver around 1,700 new properties to market per year, and post-2020 the aim is to expand this offer by developing more than 2,000 properties every year and playing a key role in meeting the country’s affordable housing shortage. For over 50 years, Orbit’s ethical approach to business has enabled it to re-invest profits into its mission of building communities; ensuring every generation can live in a house that they can afford, in a safe and sustainable environment. Orbit offers a full range of high-quality properties to suit every stage of life with flexible ways for customers to rent and buy – Orbit’s mission is to be the leader in building thriving communities. Orbit is now one of the foremost providers of affordable housing in the UK and remains fully committed to its charitable purpose, exemplified by its work with the Child Poverty Action Group.

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Sponsored by

buyer

READERS’ AWARDS 2019

buyer

ORIGIN HOUSING

READERS’ AWARDS

A medium-sized organisation with mighty ambitions, Origin Housing places an emphasis on quality design and excellent customer service – creating homes tailored to first time buyers’ needs, across London and Hertfordshire. Focused on delivering affordable housing, 100% of the new homes Origin delivered in 2017/18 were affordable, one third of these were shared ownership. Helping one of the sector’s most underprovided-for groups – families struggling to buy their first home – half of Origin’s completed shared ownership homes were three and four bedroom family houses with gardens – a housing option for which demand continues to outstrip supply. Origin has long been one of the industry’s leading lights in terms of marketing, with campaigns and digital activity focused on delivering the best user experience and accessible information on shared ownership. Unparalleled personal customer care has helped Origin maintain a 100% customer satisfaction rate from new build purchasers, for a seventh year running.

PEABODY Peabody’s mission is to help people make the most of their lives by providing goodquality, affordable homes, working with communities and promoting wellbeing. Demonstrating its commitment to creating high-quality homes and great places to live, Peabody helped 581 first time buyers on to the property ladder in the last year and has ambitious plans to build 2,500 new homes each year by 2022. Peabody strives to do things differently, in a way which adds the most value for its residents and communities. Last year it invested £6.9m in its community foundation, helping to create prosperity and success for people in London and the South East. In 2019, Peabody will launch London Living Rent, aimed at helping first time buyers save for a deposit while paying a lower-than-market rent. From initial enquiry to completion, Peabody offers outstanding customer service, with 93% of new homeowners recommending Peabody to others looking for a new home.

SOUTHERN HOUSING GROUP Industry front-runner Southern Housing Group is currently rolling out its largest and most ambitious development programme ever. Never failing to uphold its core social values and offering admirable customer care, Southern manages to maintain a remarkable personal feel, with all services delivered with undeniable flair. Demonstrating an unrelenting dedication to first time buyers, Southern has pledged that an impressive 60% of its development pipeline to deliver 6,400 homes by 2027 will be affordable. Current schemes include Bow River Village, a major regeneration project replacing a collection of derelict warehouses alongside east London’s Bromley-by-Bow. Major developments in the pipeline include Free Wharf, Shoreham, which will deliver 400 new homes and a major commercial centre set to generate over 200 new jobs. The organisation believes an impeccable service should be offered to all first time buyers, and has launched the industry’s first Service Team covering services such as resales and staircasing.

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Sponsored by

JUDGES SPECIAL AWARD FOR OUTSTANDING CONTRIBUTION TO THE FIRST TIME BUYER MARKET AFFORDABLE HOMES

THIS AWARD WILL RECOGNISE THE OUTSTANDING CONTRIBUTION MADE BY ONE INDIVIDUAL TO THE FIRST TIME BUYER MARKET. THIS AWARD WILL CELEBRATE THE WORK OF AN INDIVIDUAL WHO THROUGH THEIR INNOVATIVE APPROACH TO THE MARKET HAS HELPED FIRST TIME BUYERS OVERCOME THE USUAL CHALLENGES FACED IN THIS SECTOR. THIS AWARD WILL BE JUDGED BY THE JUDGES ONLY.

LISA WESTERMAN For over 24 years, Lisa has been well respected for her profile in the sector and helping first time buyers to get on the property ladder, particularly through her work with shared ownership. Lisa started her career with Barratt Homes before moving to Great Places Housing Group where she established and led the sales division for 20 years. Lisa has now moved into consultancy and continues to be an ambassador for shared ownership with her focus remaining on supporting first time buyers. Lisa works with financial advisers, private house builders and registered providers across a wide geographical area, helping buyers to get on the property ladder. Having helped to move thousands of first time buyers into new homes, Lisa is committed to improving customer awareness and the customer journey for buyers. As an industry expert, Lisa works closely with housing providers helping them to mobilise and deliver their sales programmes.

SIMON SCOTT One of the industry’s most influential sales and marketing operatives, Simon Scott, Assistant Director of Commercial and Property Marketing for Origin Housing, has been quietly delivering exceptional services to first time buyers for over 20 years – holding leadership roles at some of the UK’s largest organisations including One Housing Group, Peabody and L&Q. Never failing to innovate, Simon joined Origin Housing 10 years ago, and has consistently championed the group, helping it compete with some of the largest housing associations in both its customer satisfaction and marketing practices. Since joining, he has transformed the group’s marketing strategies and brought it firmly into the digital world, while also building a team that delivers the highest possible customer service. Bringing out the very best in his tight but highly efficient team, Simon’s new build sales customers have had a 100% customer satisfaction rate for seven years running.

RUPI HUNJAN There are few individuals in the UK’s shared ownership sector who have done more than Rupi Hunjan to help first time buyers on to the property ladder. Back in 2008 he founded Censeo Financial, a company that has grown into an awardwinning, retail financial services company based in the City. From its inception, Censeo has been a wholly customer-centric business and Rupi has continually looked at ways both to simplify and improve the customer journey. Rupi has worked tirelessly to champion shared ownership as the bona fide fourth tenure of property here in the UK. As well as developing long term relationships with key housing associations, he has lobbied the leading banks and building societies into offering the best mortgage deals for first time buyers. As a result, Censeo Financial has helped around 6,000 people buy their first home and helped more than 25,000 people with affordability assessments, guiding them on to the property ladder.

TIM SEWARD Without any doubt, Tim Seward is the sector’s most dedicated individual towards first time buyers. Over his 25 years’ experience, he’s led on the provision of a staggering 12,900 first time buyer homes. Since the Circle/Affinity Sutton merger, Clarion’s shared ownership pipeline is rapidly ratcheting up towards 3,000 new homes per year. These numbers say a lot about Tim’s outstanding contribution to date, with his ambition being to deliver even more homes in future years. His role as Director of Sales and Marketing at Clarion, the UK’s largest housing association, puts him in good stead to achieve this. With Tim’s strong track record of innovative and award-winning campaigns promoting shared ownership, his passion for first time buyers is infectious. Together with his teams, he campaigns to influence the supply of much-needed affordable homes, particularly shared ownership. With everything that Tim does, the needs of first time buyers are always at the forefront of his thinking.

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AFFORDABLE HOMES

buyer

READERS’ AWARDS 2019

buyer

HOW TO VOTE

READERS’ AWARDS

VOTE NOW FOR YOUR FAVOURITE IN EACH CATEGORY AT FTBAWARDS.COM AND YOU COULD WIN £250 IKEA VOUCHERS! Voting closes at midnight on 12 April 2019. FTB Award winners will be announced during the Awards Lunch at the London Marriott Hotel, Grosvenor Square on 26 April 2019. A full list of winners will be published in the June/July issue of First Time Buyer.

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Your details will automatically be entered in a free draw to win £250 Ikea vouchers Voting closes on 12 April 2019 The winner of the vouchers will be notified by email Voting is open to First Time Buyer readers, aged 18 and over, with the exception of employees of shortlisted nominees, their immediate families, agents, or anyone else associated with the administration or production of these awards Random authenticity checks will be made

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COMPETITION

Furnish your home with style!

WIN!

WIN A TOP TOULO FURNITUR E U OF DR SE CHEST AWER S AND 2 BED SIDE WORT TABLES H £69 0

HOW TO ENTER Answer the following question:

Where does Top Furniture source the wood it uses from? Send your answer with your full name, address and telephone number to: lynda@firsttimebuyermag co.uk Closing date: 10 May 2019

THE PRIZE… TOP FURNITURE IS GIVING TWO LUCKY READERS A HELPING HAND WHEN IT COMES TO KITTING OUT THEIR NEW BEDROOMS WITH TWO FANTASTIC PRIZES UP FOR GRABS: THE TOULOUSE WHITEPAINTED CHEST OF DRAWERS, WORTH £349.99 AND A SET OF TWO TOULOUSE WHITEPAINTED TWO DRAWER BEDSIDE TABLES, WORTH £339.98. T&Cs • The prize is non-transferable and no cash alternative will be given. Competition is open to UK residents only.

If you’ve just purchased your first home, the stress of surveys, solicitors and form-filling will be over, and you’ll now be looking to furnishing your new pad! If you’re after beautifully designed, hand-crafted items, Top Furniture offers high quality wooden furniture at incredible value One of the UK’s leading online specialists in both unpainted and painted oak furniture, Top Furniture is continually sourcing new products from around the globe to keep ahead of the trends, while improving its pricing. So, what’s the first furniture priority? A place to lay your head! The Toulouse range of white-painted wooden bedroom furniture ticks all the boxes when it comes to being the right fit for any new home. Classic in design, each piece is crafted using a tensile and durable wood which is sourced from New Zealand and features a 90mm thick cornice detailed with elegant rounded corners. Sturdy as well as stylish, each unit uses strong, interlocking dovetail joints on the drawers which means they are highly resistant to wear and tear, hold together under pressure and look attractive. Finished to the highest standard using a white-coloured paint which gives the units a modern, clean look and chrome handles which are easy to clean, shiny and durable, the Toulouse range has everything covered. The best part? Most of the range is delivered by Top Furniture’s own staff and vehicles fully assembled – which means more time to keep popping open those bottles of celebratory moving Champagne! For more information and to purchase visit topfurniture.co.uk or call 01889 560 999 and press option one. For home inspiration follow @topfurnitureuk on Instagram

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FOOD

FTB’S FAST FOOD Easter wouldn’t be the same without something chocolatey being involved. So which are this year’s top Easter eggs? FTB has tried and tested some from the UK’s leading supermarkets to ensure you choose the best egg this Easter for you and your family EASTER EGGS

TEST WINNER

WAITROSE

CO-OP

ALDI

MARKS & SPENCER

TESCO

Caramel chocolate golden Easter egg with Gianduja milk chocolates, £10; chocolate baby avocados, £3; Heston from Waitrose, The Chocolate Teapot, £20

Irresistible triple chocolate artisan egg with salted caramel truffles, £7.50; salted caramel brownie egg-splosion, £5.00; Free From chocolate Easter egg with caramel flavour truffles, £3.50

Dairyfine hollow egg with mini eggs, 79p; Moser Roth milk cocoa pod, £3.99; Curious Inventions Easter egg – cookies and crème, £2.99

Belgian milk and dark chocolate egg with Halen Mon sea salted caramels, £8; Moonbeam the Unicorn, £5; proseggo Egg, £12

FTB says: Aldi has some lovely

FTB says: M&S has a variety

Tesco *finest Belgian milk chocolate, salted biscuit and maple egg, £8; giant Rainbow the Unicorn, £10; *finest Belgian dark chocolate, orange and almond egg, £8

eggs that come with a good

of different themed Easter eggs

FTB says: The Waitrose

FTB says: The Easter eggs from

price tag. The cookies and

that cater for all ages. The

FTB says: Tesco’s range of

selection of Easter eggs

the Co-op were all pleasurable

crème egg is something of a

Belgian chocolate egg is a

eggs are great to look at

oozes class and quality. The

with something for every taste

chocolate mash-up with a real

piece of art in itself and really

but have a slightly higher

caramel golden egg looks

and diet. The artisan egg

flavour of cookies and crème

stands out. It tastes very good

price bracket than you might

absoutely fantastic and the

looks fantastic and is very

and it’s not too sweet. The

and the truffles are a bonus.

expect from the supermarket.

taste is a real pleasure,

chocolatey. The salted caramel

hollow egg comes with mini

Moonbeam the Unicorn carries

Both its *finest eggs ooze

with a lovely sweet caramel

truffles will leave you wanting

eggs and is definitely one for

on with the latest obsession.

quality in appearance but

flavour. The accompanying

more! The salted caramel

the younger generation – at

Although it looks the part, it

are they worth the money?

milk chocolates are extremely

brownie has an interesting look

just 79p it’s a real bargain!

tastes a bit over sweet and was

The salted biscuit egg is

moreish! Avocados are all

as if the filling is bursting out

The pick of the Aldi eggs has

a little underwhelming. The

intricately crafted with the

the rage, and Waitrose

from the inside. The taste is

to be the cocoa pod which

proseggo egg is aimed at the

saltiness and maple flavours

baby avocados are sweet

good, with the salted caramel

looks exactly like an original

adults and its vivid red colour

being strong, but still giving

to look at and to eat and

coming through nicely. For

cocoa pod from the rainforest.

really stands out. Flavour wise

a delicate taste. The orange

are sure to be a hit. If you

those who require a milk free

It has the look and taste of a

the egg isn’t bad, but does

and almond egg has a

want something a little over

option then the Co-op is your

luxury egg worth much more

not really pack the punch that

slightly more acquired taste

the top, then the chocolate

go-to shop. The Free From egg

than its price and is something

we were expecting from it,

with the orange and dark

teapot is a must. Although

has the taste of any normal

any chocolate lover will surely

especially for the £12 price

chocolate coming through

the saying ‘as much use as

egg and comes with some

love with a smooth, creamy

tag. Overall the eggs looked

with a slightly bitter taste.

a chocolate teapot’ is well

equally as delicious caramel

texture and taste. For the price,

good but the flavour was not

Children will love the unicorn

known, you will be sure to

truffles. A pleasing selection.

you can’t go wrong.

quite on the same level.

egg. It looks cute and the

use this chocolate treat to

★★★★

★★★

★★

flavour is nice although it could get a little too

satisfy your cravings.

BREAK OUT OF YOUR SHELL

much if it's eaten

Overall an

If you’ve had enough of the chocolate eggs and fancy something healthier, what could be better

all at once, and at

excellent

than a perfect poached egg? This Judge Every Day egg poacher and frying pan will make what

£10 it seems a bit

range.

can be a tricky process a breeze. It can cook up to four eggs at a time in a removable egg tray,

expensive.

★★★★★

and its even cooking distribution means perfection every time. The handle is cool to the touch.

★

Judge Every Day egg poacher and frying pan, £14.49 horwood.co.uk

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FINANCE

Mortgage Clinic By David Blake, Principal Mortgage Adviser, Which? Mortgage Advisers

David Blake has more than nine years of experience in the financial services industry and prides himself on helping first time buyers get on to the property ladder. In his current role at Which? Mortgage Advisers, David (along with the entire team) provides independent, impartial advice and searches thousands of mortgage deals to help buyers find the deal that is right for them. Where is the best place to save for a deposit? There are a variety of options for those looking for somewhere to save up for a home deposit. With the Help to Buy: ISA you can save up to £200 per month, and the Government will give a 25% bonus when you come to complete your property purchase. You can deposit a lump sum of £1,200 in your first month to get you started and you’ll earn interest on top of your savings. The Help to Buy: ISA is only open to new savers until 30 November 2019. Another option is a Lifetime ISA, which is another savings product backed by the Government. You can save up to £4,000 per year and you’ll get a 25% bonus when you buy. You have to have had the Lifetime ISA for at least a year when you cash in your bonus, so this might not be a suitable if you’re looking to buy in the coming months. Additionally, there are currently fewer providers of the Lifetime ISA compared to the Help to Buy: ISA. While you can open both a Help to Buy: ISA and a Lifetime ISA, you’ll only be able to claim the first time buyer bonus on one of them. If the Help to Buy: ISA and the Lifetime ISA aren’t for you, you could simply build up your deposit in a savings account. It’s worth shopping around as although interest rates for many savings accounts are very low, there are some good deals to be had. What is the likelihood my mortgage application will be rejected and how can I avoid this? A mortgage rejection can occur for a

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number of reasons, such as applying for too much money, submitting an application with incorrect details, or supplying the wrong documents. We recently found that one in six (16%) mortgage holders surveyed had been rejected for a mortgage in the past, with the most likely areas for mortgage rejection being London (29%) and in the West Midlands (22%). Consider applying for a mortgage agreement “in principle” when you’re at the house-hunting stage. This confirms that a lender is theoretically willing to lend you a certain amount and will give you an accurate idea of your budget. It can also prove to sellers and estate agents that you’re a serious buyer. If you complete an accurate mortgage application, supply all the necessary documents and apply for an affordable amount of money, it’s unlikely you’ll be declined. However, it’s sensible to seek advice from an independent mortgage adviser who can help you secure a mortgage. They may also be able to give you a good indication of whether or not you’ll be accepted before you apply. How long does a mortgage application take and what are the main steps? A mortgage application can take from a few days up to a few weeks. While you need to allow some time for your application to be processed, making sure you have all the relevant information and documents ready should speed up the process. When you begin your property search, it’s worth securing a mortgage in principle. This will give you a good idea of the amount

of money you’ll be able to spend on a property and is sometimes a requirement of a seller or estate agent if you want to make an offer, as it shows you are serious about buying the home. Once you’ve found the property you want to buy, you’ve made an offer and your offer has been accepted, you’ll need to submit your full mortgage application. This will require various documents, including proof of identification, proof of income, source of deposit and details of the home you’re planning to buy. As part of its considerations, the mortgage lender will have the property valued and assessed to confirm it is willing to lend the amount of money you need to make the purchase. If the mortgage lender is comfortable with the property and your ability to repay the loan, it will approve your mortgage. This mortgage approval will usually be valid for three to six months. Should the purchase take longer, then you may need to apply for an extension to your offer or reapply. The key to ensuring your mortgage application progresses as quickly as possible is to make sure you provide all the necessary information at the right time. Taking some time to double check you are supplying exactly what your mortgage lender or mortgage adviser needs can save a lot of time further down the line. For further help and advice from Which? Mortgage Advisers, visit which.co.uk/ ftbmortgages, or call 0800 316 0822

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FINANCE

Worse than being dumped? Being rejected for a mortgage is such a traumatic experience that people compare it to a relationship break-up or being passed over for promotion. Kay Hill looks at why mortgage applications fail and asks the experts for advice

EXPERT COMMENT There has been a paradigm shift in the UK as people’s ways of living are constantly evolving; however, the UK mortgage market is stuck in the past in adapting to these changing needs of customers. This is largely due to the increasingly computerised process of lenders which automatically declines customers whose day-to-day circumstances do not fit the tick-box model. As a result, more than half of mortgage rejections are for reasons that are essentially becoming the norm, pushing more customers further away from achieving their property dreams. It is staggering that factors such as being a contract worker or self-employed are more likely to exclude you from the mortgage application process than not having a large enough deposit. This is a strong indication that factors measuring your fitness for a mortgage are not adapted to the modern customers’ needs. As a lender that has been providing flexible, common sense lending solutions for over 40 years, we recognise that lenders need to be able to adapt to what is now normal. Pete Ball CEO, Personal Finance, Together

Homeownership is regarded as such an important life-goal in the UK that 41% of people think that being declined a mortgage is “an embarrassing secret that means they’d failed in life”, according to research from Online Mortgage Advisor. It terms of the distress it causes, many respondents rated it as worse than missing a promotion (13%) or being dumped by a partner (11%). But in truth, being turned down for a mortgage is not that uncommon. New research from Which? Mortgage Advisers discovered that among those who had now successfully purchased a new home, 16% had previously been rejected, with that figure rising to 41% of 18 to 24-year-old homeowners. Meanwhile, figures from lender Aldermore reveal that 42.8% of would-be buyers have been rejected at least once for a mortgage and a dejected 17.8% were turned down more than once. It’s a vicious circle, because refusals can have a negative result on your credit score. Alastair Douglas, CEO at TotallyMoney, explains, “Although being refused for one mortgage alone won’t result in a change to your credit score, it will leave a hard search on your file. Several hard searches can impact your credit score and may reduce your chances of acceptance when making future applications. If you’ve been rejected it is important to hold off from making another application right away and to instead find out what might be holding you back. “Problems with the information stored on your credit file can lead to rejection. With one in four people finding an error on their report, it is important to ensure that any issues have been addressed, giving you the best chance of getting accepted. By checking your credit report, you can raise a dispute to correct any inaccuracies that might lead to mortgage rejection. Raising a dispute is free and, like checking your credit report, won’t harm your score,” Douglas adds. “Soft” mortgage checkers, from companies such as TotallyMoney or Comparethemarket. com, can help reduce the risk of a refusal damaging your future chances. Shakila Hashmi,

Head of Money at Comparethemarket.com, notes, “Our mortgage eligibility checker allows customers to check whether and how much they can borrow, before making an application. In some cases people may find they are not eligible for a mortgage, but a soft check does not impact your credit rating and allows you to make the changes necessary to help secure a mortgage at a later date. This is particularly beneficial to first time buyers who have not been through the

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FINANCE homebuying process before. Even small changes – such as registering on the electoral roll, taking out a credit card, paying off debt or simply saving more regularly – can significantly increase their chances of securing a mortgage.” Research by specialist lender Together asked 2,000 people who had fallen out of the mortgage application process where the problem had been – with interesting results. Just 9% were turned down because their deposit was too small and 16% because their earnings were too low, while 18% were refused for having a low credit score or lack of credit history, and issues over type or length of employment (including self-employment, gig economy and small business ownership) were a problem for 15%. Shockingly, 43% of recent first time buyers said that they had given up being self-employed due to problems securing a mortgage. Among millennials, having too much debt or too many credit applications was a particular issue, with 19% being rejected for that reason, while credit score problems rose to 31% in that age group. If you are turned down, all is not lost, stresses Pete Mugleston, MD at Online Mortgage Advisor (onlinemortgageadvisor. co.uk). “First of all; don’t panic. I can’t shout that loud enough! There will be an infinite number of reasons as to why your mortgage application has been declined, most of the time it’ll be because the lender you applied with wasn’t happy about certain specific things. Thankfully, every lender has a different policy on what is and isn’t acceptable, and many specialise in certain areas. So, just because one lender has turned you down, it doesn’t mean there isn’t a lender out there

for you right now – some will consider a whole range of adverse credit events, including recent late payments, defaults, CCJs, and even repossessions and bankruptcies. “It’s rare that mortgages are declined specifically because the applicant is a first time buyer. Usually the reason for a mortgage decline is down to something else the lender isn’t happy about, such as bad credit or affordability. If your income is made up of multiple streams or is ‘out of the norm’, it can be a real minefield, but a seasoned broker is likely to be able to help.” It may not be that there is anything wrong with you or your finances at all, but it’s your dream home that is getting the thumbs down – Together’s statistics found that 10% of rejections were because of the property. High rises, homes converted from non-residential buildings, former local authority properties, studio flats, listed buildings, anything in need of substantial repair, homes at risk of flooding or those of “non-standard” construction such as concrete or thatch, can all be red-flagged by some lenders, although there are always others which are willing to be more flexible. The essential thing is not to give up, but to do your research about what lenders are looking for, sort out any problems with your credit file, maximise your savings and, when you’re good and ready, try again.

EXPERT COMMENT

The average first time buyer is 31 years old, which means they were starting their careers the same year the global financial crisis began. This group has had to navigate a hugely challenging economic climate, so it is reasonable to expect some may have had credit blips, gaps in employment, and even resorted to short-term credit in the past. At Aldermore, we understand getting on the property ladder is no easy feat and securing a mortgage can be a cause for concern. We believe that those who have recovered from credit difficulties in their past should have the opportunity for homeownership. It is concerning how negatively the house buying process is impacting health, personal relationships and careers – first time buyers experience huge amounts of pressure when looking for their first home. Our human approach to lending enables us to consider each case on its individual merits so we can support those people with a complex financial history or a less than perfect credit score find a home. Damian Thompson Director of Mortgages, Aldermore

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MARKET

EXPERT COMMENT There are many in the UK who are able to afford mortgage repayments, but are hindered by the struggle to raise an adequate deposit and pay the associated fees involved in buying. This is starkly illustrated in our latest First Time Buyer Index, which found that raising a deposit

With doom and gloom surrounding the economy, is now the time for first time buyers to take advantage of the many deals and incentives on offer?

still remains the biggest obstacle for one in four (26%) prospective first time buyers. We want to continue to offer a variety of products that provide additional support to new buyers struggling to naivgate the often complex and challenging housing conditions in the UK, so they can turn homeownership into a reality. Damian Thompson Director of Mortgages,

You’d have had to have been hidden under a stone to escape the recent months of speculation around the effect the economic situation is having on the property market. Many of today’s wouldbe first time buyers are keeping a close eye on property prices to see if now offers a window for them to finally get on to the property ladder. And, as developers struggle with sales in some parts of the country, some are offering more deals and incentives to buy than ever before.

Aldermore

PRICE CUTS EXPERT COMMENT Since launching Verto earlier in the year we’ve now sold almost half of the available apartments, so this isn’t an effort to help shift units, instead it’s about us trying to support those trying to get a foot on to the property ladder. Buying a home can be an expensive process, with a host of additional costs and charges. We recognise this and understand how stressful the experience can be, so we hope our incentive scheme eases the load for our purchasers.

Wahid Samady Chair of CNM Estates.

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It’s hard to uncover hard facts on price reductions – developers are never keen to advertise the fact that a scheme may be proving hard to sell – but anecdotal evidence from buying agents and “mystery shoppers” suggests that some developers of new homes are dropping prices, with many also offering deals and incentives in order to sell some of their remaining units. Buyers have reported being offered a 10% cut in price on a London new build apartment and one mystery shopper, a developer spying on the competition, discovered price reductions of 20% which is something to bear in mind when trying to negotiate.

SUPPLY AND DEMAND One factor affecting prices is the supply of new homes on the market. A lack of property tends to drive up prices as homes are in short supply, but of course there are variations across the UK. Last year,

developers registered 159,617 new homes with NHBC during 2018, a 0.5% decrease on the 160,396 in 2017. New home completions for the year were also stable, up 1% on 2017 (149,480 in 2018; 147,552 in 2017). In London, new home registrations were down 10% in 2018 at 16,069 (17,932 in 2017), with the capital’s private housing market bearing the brunt of the continuing political and economic uncertainties. Reception to the latest figures has been generally positive, especially to the recent drives to increase the supply of affordable housing as over 47,000 affordable homes were delivered in 2017-18. Some believe that the UK Government and industry has finally woken up to the scale of our nation’s housing crisis. But, there is still a lot of work to do and estimates from the National Housing Federation suggest we need to be building more than 140,000 affordable properties a year to help satisfy demand.

LOOK OUT FOR SPECIAL EVENTS Housebuilders often arrange special events, mass viewings, where they offer those who reserve a property a special deal. L&Q recently organised an “East London Homebuyer Event” to market four developments: New Union Wharf on the Isle of Dogs, NEO in Stepney, Barking Riverside and Weavers Quarter. L&Q offered buyers reserving at the event a two-year service charge holiday, saving them up to £6,000, plus free legal fees and Stamp Duty paid on selected homes. lqgroup.org.uk

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MARKET

DEALS AND INCENTIVES Developer CNM Estates recently announced an incentive scheme for buyers at its new Reading development, Verto, where it says that almost 50% of the 103 apartments have sold. Prices start at £270,000 and the developer is offering to give first time buyers at the development a contribution towards Stamp Duty Land Tax on all apartments up to £500,000. Investor buyers receive a furniture pack up to £5,000 and a paid-for season ticket for three years at a nearby car park which is ideal for buyers for whom parking is a necessity. Bearing in mind the average cost of fees when purchasing a home in the UK, which includes surveying, conveyancing and SDLT, is £3,500, while additional costs such as mortgage fees, service charges and agent fees average over £7,000. verto-reading.com At the time of writing, Notting Hill Genesis is also offering to pay Stamp Duty and £1,000 toward legal fees as well as offering three months’ rent-free on shared ownership homes or a 12-month TfL travel card at some developments. At Manor Place Depot, in Elephant & Castle, buyers can save up to £42,000 on Stamp Duty costs and £1,000 toward legal fees. Prices for a one bedroom shared ownership apartment start from £108,750 for a 25% share of £435,000 with some homes also available with London Help to Buy. manorplacedepot.com At shared ownership scheme Able Quay Millharbour, on the Isle of Dogs, NHG will pay the first three months’ rent on the unpurchased share of the property. Prices for a one bedroom apartment start from £115,000 for a 25% share of £460,000. At another shared ownership scheme, The Staging Post in Hounslow, NHG will pay the first three months’ rent on the unpurchased share of the property. Prices for a one bedroom apartment start from £81,250 for a 25% share of £325,000. At New Garden Quarter, Stratford, the housing association will keep you moving for a whole year with a free TfL travelcard (Zone1-5). One bedroom apartments start from £101,875 based on a 25% share with a full market value of £407,500. nhgsales.com Developer Galliard Homes offers buyers value it says “purely by way of locations” but the housebuilder is also currently offering

a range of incentives including: Help to Buy on some schemes, furniture packages and service charge holidays. A studio apartment at Craneshaw House in Hounslow is available with Help to Buy and comes fully furnished for sale at £199,000. Galliard Homes is also offering fully furnished properties and a one-year service charge holiday at Pinnacle House, Kings Langley, Hertfordshire where one beds start from £220,000. At Westgate House in Ealing, Help to Buy is available at the fully furnished properties with Stamp Duty paid on studios, one and two bedroom apartments, which also come with concierge, gym, sauna, steam room, lounge and private screening room. Prices start from £299,000. galliardhomes.com

EXPERT COMMENT We at Galliards have always tried to assist first time buyers purely by way of the locations. If I were a FTB today I would look to try to find the next regeneration location and be prepared to live wherever I felt

Inspired Homes is offering buyers a helping hand furnishing their new homes at Innova Croydon or Fabrick in Cheadle Hulme, near Manchester. Furniture packs, provided by David Phillips, include all the essentials from beds and sofas to wardrobes and side tables, for a hassle-free, all-inclusive purchase. For those who prefer to choose their own furniture from the collection, vouchers for an equivalent amount are also available, so you can be spent the full amount on one big ticket item, or budget for a complete scheme. At Innova Croydon, buyers of a one bedroom apartment will receive a pack or voucher worth £3,000, while buyers of two bedroom apartments will receive a pack or voucher worth £4,000. At Fabrick, Greater Manchester, a £2,000 pack or voucher is on offer with one bedroom homes and £3,000 for two beds. Apartments at Innova Croydon start from £295,000 with Help to Buy available. Prices at Fabrick in Manchester start at £135,000 for a one bedroom apartment with Help to Buy also available. innovacroydon.co.uk. inspiredhomes.uk.com/fabrick

we have a chance of growth and be prepared to travel for work. We always try to sell at value for money, leaving a little in the price for growth. We have embraced Help to Buy, even introducing the Galliards help to buy option enabling clients to utilise Help to Buy earlier off plan.

David Galman Sales Director, Galliard Homes

EXPERT COMMENT If we are to fix the UK’s housing crisis for this generation and those to come, we need to take a smarter approach. The Government has made its intentions clear that both public and private enterprises must take advantage of property data to make better planning and building

FINANCIAL DEALS AND OFFERS

decisions. To build more, we need

Shopping around for mortgages can also bring added deals and incentives to help you make that first purchase. Specialist bank Aldermore has recently shown its commitment to helping first time buyers who have small deposits to get on the property ladder. At the time of writing the bank is offering free standard valuations on its high LTV purchase-only products, with no product fees. This goes some way to ensure that precious savings are not eaten into unnecessarily by additional expenses. aldermore.co.uk

unlocking the sites best suited for

to do a better job of identifying and affordable housing, and to make sure we’re not only building the right kind of homes at the right price, but in the right places also.

Andrew Lloyd MD at Search Acumen

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EXPERTS

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

THIS MONTH’S PA N E L O F E X P E R T S Pauline Evans Senior Associate Solicitor, Paul Robinson Solicitors LLP

Adrian Plant Shared Ownership & New Homes Director, Leaders Romans

Charlotte Bentall Business Development Director, New Homes Law

T E S T T H E PA N E L

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

Can we afford to buy?

I’m looking to get on the property market on the south coast with my partner, but as we are both nurses, we have limited income. We’ve managed to save £7,000, do you think we can get on the property ladder with this? We know we’ll need a slightly longer commute as Winchester is super expensive, but definitely don’t want to drive more than an hour to Winchester hospital. Laura Wheeler and Mark Trench, Winchester Hi guys, great news, we think we can get you on the ladder! With your deposit you should be able to afford a one bed apartment in a waterside development in Southampton. Sound good? This would be available under a shared ownership scheme, so there are a few other boxes to tick. We need to ensure you don’t earn more than £80,000 between you, your credit rating is good, you have a right to live in the UK and that your finances will support the costs of ownership. Our dedicated shared ownership team is on hand to help and can guide you through what can be a complicated process and make it simple for you. Just call 02380 981 565 to chat through the options. Adrian Plant

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EXPERTS

Stamp Duty

that you speak to your conveyancer for clarification on how much Stamp Duty (if any) is payable.

I am a first time buyer and I think that I have at last found my dream home. It has taken a while to save the deposit I needed but I am a little confused about Stamp Duty. Can you explain if I have to pay Stamp Duty, when do I pay and who do I pay it to? Thank you. Bradley Beechcroft, Chelmsford

Charlotte Bentall

Terms of Lease

I have recently bought my first home, which is a lovely new build apartment, but my lease states a commencement date from years ago. Why is this when I haven’t moved in yet? Ellie Brewman, Coventry

Firstly, congratulations on saving up enough deposit to be able to purchase your first home. Stamp Duty is payable when you purchase a property. Your acting conveyancer will ask you to pay your Stamp Duty to them in readiness for your completion day. Your Conveyancer will gain your authority to submit a SDLT1 Form (Stamp Duty Land Tax Form) on your behalf. Once the submission has been made, your acting conveyancer will pay your Stamp Duty funds direct to HMRC. Stamp Duty amounts will vary depending on your personal circumstances and type of property purchase so we would advise

This can be quite confusing. The commencement date and date of your lease can be different. A commencement date within a lease is the date in which the first lease within a development was completed. Your lease will be dated on the date you complete. The commencement date is the date at which the terms of the lease were first implemented and your lease will be dated from the date you take responsibility for the terms set within the lease. Good luck in your new home! Charlotte Bentall

Which legal firm?

I am about to start looking for my first home, which is all a little overwhelming. What should a first time buyer consider when choosing a legal firm to represent them with the biggest purchase of their lives? Tim Ashbury, Stratford

The first thing to consider is whether the firm is independent so it can deliver unbiased service to you without having to worry about upsetting someone they pay referral fees to. Paul Robinson Solicitors is entirely independent, does not pay any referral fees whatsoever and provides a fast, efficient and cost-effective conveyancing service. You should always consider the firm’s reputation by asking for genuine recommendations from friends, brokers and estate agents as well as doing your homework and checking out reviews online like Google or Yell. Our practice is one of the largest law firms in the South East, awarded as a Lexcel Centre of Excellence with offices in four key locations including Stratford and has grown steadily on the back of its reputation for looking after its clients and building lasting relationships with like-minded contacts. It is important when selecting a conveyancer or solicitor that you check who will be handling the case and

whether you will have a dedicated fee earner available to deal with you and your transactions from the start to the finish of the transaction. It is really important that you “try before you buy” and make sure you speak with the fee earner that you are considering using, as your relationship with your solicitor is personal and built on trust. At our firm we have specialist dedicated fee earners each accredited under the Conveyancing Quality Scheme (CQS) and support teams working to maintain strength in depth to keep matters moving. Consider if the solicitor you are asking to quote is on all the lender panels. You will

often find smaller or less established firms are unable to act for the lender and there can then be additional costs and delays to you which are not always apparent from the outset if the lender has to appoint another solicitor to act on behalf of the lender. As a key property law firm in the country we are on all major lender panels and can act for the lender at no additional cost to you, so you can pick the best lender for you. For more information or a quote please contact info@paulrobinson.co.uk quoting firsttimebuyermag. Pauline Evans

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

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

FIRST STEPS

ARE YOU ELIGIBLE FOR A GOVERNMENTBACKED SCHEME? The government runs several Help to Buy schemes to help people get on to the property ladder. To be eligible for Help to Buy your household income needs to be less than £60,000 a year. For more details, contact a Help to Buy Agent. Help to Buy Agents are housing associations that handle the application process for Help to Buy products. Details of Help to Buy Agents start on page 126.

BUYING ON THE OPEN MARKET

FUNDING OPTIONS

JARGON EXPLAINED

G O V E R N M E N TBACKED SCHEMES

EQUITY LOAN

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

STARTER HOMES Starter Homes is a government initiative that aims to provide up to 200,000 affordable new build homes to first time buyers in England by 2020. The properties will be built on brownfield land and sold at a 20% discount compared to the market price in the area. You must be between 23 and 40 years old and never have owned a home before. The price of the new properties will be capped to £450,000 in London, and £250,000 outside the capital.

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

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

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

PRIVATE INITIATIVES

RENT TO HOMEBUY

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

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

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

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

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

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

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

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BUYERS’ GUIDE

The ftb process TIPS

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

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

inance

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

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

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

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

FINANCE

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

CREDIT SCORE

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

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

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

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

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

SHOP AROUND

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

RESEARCH

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BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

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

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

horough research

you’ll be happy living in.

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

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

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

RESEARCH THE AREA

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

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

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

VIEWINGS

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

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

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

OFFER

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

SURVEY

BUYING

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

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uying process

BUYERS’ COSTS SURVEYS AND VALUATIONS

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

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

MORTGAGE FEE £0-£1,000

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

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

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

TIPS

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

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

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

SOLICITORS

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

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

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

MORTGAGE BROKER’S FEE 0-1%

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

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

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

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

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

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

SEARCHES

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

INSURANCE

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

REMOVALS

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

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

COMPLETION

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

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BUYERS’ GUIDE

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

DISBURSEMENTS

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

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

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

EARLY REPAYMENT CHARGE

ARREARS

EQUITY

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

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

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

BROKER

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

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

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

FREEHOLD

BUILDING SURVEY

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

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

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

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

CONVEYANCING The legal process of transferring ownership of a property.

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

GAZUMPING

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

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

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

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

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

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

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

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

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

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

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LEGAL

Who can ‘legally’ help me buy my first home? With house prices at record high levels, and salaries not keeping pace, it is widely accepted that it has become increasingly difficult for first time buyers to buy their first home. Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, looks at the legal aspects of alternative ways to buy a first property

There are alternative ways to buy your first home such as:  Buying with friends  The Bank of Mum and Dad  Mortgage Guarantor  Shared Ownership  Help to Buy Equity Loan

BUYING WITH FRIENDS One option for buyers who cannot afford to buy a property alone is to buy together with friends. This is becoming an increasingly popular choice. Things to consider If you are considering buying with a friend then there are legal aspects you should consider before deciding if this is right for you, such as:  What deposit and initial contributions are you both making?  Will the mortgage/outgoings be split equally?  What happens when you wish to sell the property or if only one of you wishes to sell?  What happens if someone dies (morbid yes, but it must be considered)?  What happens if we fall out? How are future price increases shared? When you buy a property with another person you hold the property as ‘joint tenants’ or ‘tenants in common’ and it is important you take advice from a specialist conveyancing lawyer who will be able to explain the difference to you and the options available to you. In most cases of buying with a friend your lawyer will advise you to hold the property as tenants in common (where you can own different shares and the property does not pass to the survivor in the event of death) and may recommend you enter into a Declaration of Trust to reflect your ownership wishes and to address the questions above. It is strongly recommended you discuss

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these points with your co-buyer friend, and instruct your lawyer accordingly, before you make the commitment of buying together, as while it may seem like a good idea (and often proves to be) the reality can often be very different, and it is best to be prepared for such an eventuality.

THE BANK OF MUM AND DAD The Bank of Mum and Dad is where parents (or another relative/friend) gifts you money towards the deposit of the property you are buying. Things to consider If you are fortunate enough to be in a position where parents (or another relative/ friend) are able and willing to gift you a deposit or part of it then you will need to consider the following legal aspects:  The deposit must be a gift and not a loan – if the money is a loan then it is highly unlikely any mortgage lender will accept this arrangement  Your parents (or whoever makes the gift) will need to sign a “gift” letter confirming that the money is a gift and that they will have no legal interest in the property. This will be required both for your lawyer and the mortgage lender  Your parents (or whoever makes the gift) will need to provide evidence of the source of funds. This is not your lawyer being difficult but is to comply with Anti Money Laundering Regulations. Any lawyer will have to ask for this (as well as for any funds you are contributing).

This is evidenced by your parents (or whoever makes the gift) explaining where the funds are coming from and providing documentary evidence to support this. For example, if this was from their own property sale then they could supply evidence of the sale, if it is from their own savings from their salary etc they can supply several months bank statements showing the salary being paid into their account and the savings increasing. Your lawyer will be able to explain exactly what is required depending on the nature of the gift  Your parents (or whoever makes the gift) will need to satisfy your lawyer’s identification requirements Finally, your parents (or whoever makes the gift) would be recommended to seek independent legal advice if they have queries or require any advice relating to their gift.

MORTGAGE GUARANTOR It may be possible to have a relative or someone else as a guarantor to your mortgage. This is generally for people who the banks may be concerned cannot afford the mortgage payments alone.

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LEGAL property back to the housing association who will get a period of time (usually eight weeks) in which to find a buyer. The price will be set based on a RICS valuation. If a buyer is not found within this period then you can sell on the open market  Restrictions – the shared ownership lease will prevent you from renting out the property. It must be your own residence. When you buy a shared ownership property you do not need to be a first time buyer, but you must not own another home (unless this is being sold) and you must earn less than the current maximum household income (currently £80,000 out of London and £90,000 in London) There are two options which are either ‘sole proprietor joint mortgage’ – where the buyer(s) is named as the owner of the property but both are named on and liable for the mortgage, or the more traditional mortgage guarantor where the mortgage and property are both in the sole name of the buyer(s) but with the guarantor guaranteeing the mortgage payments. Things to consider If buying with a mortgage guarantor then consideration needs to be given to the following points:  The mortgage guarantor will need independent legal advice as to the commitment being made; ie if the buyer defaults on the mortgage then the mortgage guarantor will be liable for the mortgage payments  There is a moral not just legal responsibility on the buyer to ensure they keep up the mortgage repayments. A buyer who gets into difficulties with their payments and has to rely on their mortgage guarantor could cause a rather unpleasant breakdown in the relationship between the buyer and guarantor Buyers are advised to be honest with guarantors if they do get into, or expect to get into, any difficulties with payments.

SHARED OWNERSHIP Shared ownership is where you part buy and part rent a property from the landlord, normally a housing association. The rent you pay is subsidised and this is a popular

product for first time buyers. Things to consider Other articles will explain this in more detail but some of the legal aspects to consider are:  Rent – You will pay rent on the share you do not own. The rent is subsidised and generally when the property is first sold it will be set at 2.75% of the full market value of the property (although it may be set higher or lower). So, if you were buying a 25% share of a new build shared ownership property for £250,000 then the rent payable would be £429.69 per month  Staircasing – A feature of shared ownership is that you can normally buy additional shares in the property up to the value of 100% ownership – this is known as staircasing. To do this the property will be valued by a RICS valuer and you will pay the percentage share price you are buying based on this valuation. If you are staircasing to less than 100% ownership then the housing association will financially assess you to ensure that you are not buying more than you can afford If you are buying a re-sale shared ownership property (ie an existing non-new build property) you will continue to pay the rent at the current rate payable by the seller. The bigger your share is then the less rent you will pay. Rent increases annually, generally by RPI plus 0.5%.  Resale – When you want to sell the property you will have to first offer the

Prince Evans specialise in all aspects of new build property. Please contact Prince Evans’ New Build Homes team for all your conveyancing needs and for a friendly no obligation quote on 020 8567 3477 or nbh@prince-evans.co.uk

This is just a very brief overview of shared ownership. Your lawyer will provide more detailed guidance (which is why you should ensure you use a lawyer with considerable expertise in this area).

HELP TO BUY EQUITY LOAN A Help to Buy Equity Loan is a popular product where the Government lends you up to 20% (or 40% in London) of the cost of your home – this can only be used for the purchase of a new build property. This means you will only need a 5% deposit to buy your property. Things to consider Again, other articles will go into more detail but the following legal aspects should be considered:  No loan fees or interest is charged on the Equity Loan in the first five years (ie there is nothing to pay for five years)  After five years interest is charged at 1.75% and increases annually at RPI plus 1%  When you sell the property, the loan must be repaid on the percentage basis, ie if you have a 20% equity loan you will repay 20% of the property value when you sell (irrespective of whether prices have increased or decreased) To be eligible for Help to Buy you can be a first time buyer or a homeowner who is looking to move (and sell your existing property). The home you want to buy must be newly built with a price of no more than £600,000. You cannot sub-let the home and you must not own any other property at the time you buy. This is just a very brief overview of the legal aspects of some alternative methods to take your first step on to the property ladder. It is important you take more detailed legal advice from a specialist lawyer before proceeding with any of these alternative arrangements.

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