First Time Buyer April/May 2023

EDITORIAL – 020 3488 7754

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk

Editor LYNDA CLARK lynda@ rsttimebuyermag.co.uk

Editorial Assistant and Head of Special Events KATIE WRIGHT

Editorial and Special Events Assistant

SOPHIE MUNNERY

Creative Director RYAN BEAL

Sub Editor KAY HILL

Social Media KATIE WRIGHT, SOPHIE MUNNERY

Contributors

BERNARD ARHIN, NICKI CHAPMAN, CHRIS CLARK, DEBBIE CLARK, ABI CULLEY, BILL DHARIWAL, KAY HILL, CECILIA MOURAIN, SOPHIE MUNNERY, LAURA DEAN-OSGOOD, CORALIE PHELAN, LESLEY PRICE, GINETTA VEDRICKAS, KATIE WRIGHT

ADVERTISING

020 3488 7754

Director of Advertising/Exhibition Sales LYNDA CLARK lynda@ rsttimebuyermag.co.uk

Special Events KATIE WRIGHT

– First Time Buyer Home Show

– First Time Buyer Readers’ Awards katie@ rsttimebuyermag.co.uk

Accounts accounts@ultimateguidecompany.com

Managing Director SARAH GARRETT sarahg@spmgroup.co.uk

Public Relations RACHEL COLGAN rachel@building-relations.co.uk

SUBSCRIPTIONS 020 3488 7754

SWITCHBOARD 020 3488 7754

All advertising copy for June/July 2023 must be received before 5 May 2023. Send all copy to: lynda @ firsttimebuyermag.co.uk

Welcome

We are celebrating our 100th issue which is a great milestone for First Time Buyer. As I look back over the years I can see how we have helped so many first timers get a foot on the property ladder and that really is something to applaud. I hope you enjoy our special commemorative cover which is a real trip down memory lane!

We are also bringing you an extra special SO Resi magazine with this issue. It covers everything from how shared ownership works to the latest news from the mortgage market, plus some perfect FTB hotspots around the country and affordable homes in those areas, along with much more.

Our special friend and huge supporter of the magazine Jonnie Irwin is taking a well-earned holiday, so TV and radio presenter Nicki Chapman has shared with us her thoughts on what’s happening in the property market – do take a read!

With Easter just around the corner we enjoyed tasting some delicious eggs to bring you our round-up of what’s in store and which, in our opinion, are the tastiest treats.

I hope you enjoy this issue which is packed with information and help on buying your first home – enjoy!

Until next time, happy house hunting

For me the

Beth Otway, At home with, page14

page 106

The Kent countryside is right on the doorstep and the city centre is so easy to reach.

Casper Willis, House Hunter, page 16

Our monthly outgoing is £100 less than our one bedroom rental.

Rhianne and Sam, Real Life, page 68

I believe there are many opportunities available now for rst time buyers eager to get on the property ladder.

Nicki

Chapman, Nicki’s World, page 9

EDITOR’S PICKS…

one incentive to moving home is the thought of all the different houseplants and garden plants I could grow!

I have a huge passion for shared ownership and the springboard it gives people to full homeownership.

Abi Culley, 20 Questions,

FIRST TIMEbuyer 1 th I ue

What’s in…

69

For sale

– the best FTB properties

68

Rhianne and her partner Sam were faced with the all too familiar hurdle of rising house prices and an inaccessible market when it came to taking the first step on the property ladder. A home in the South East was out of reach, but new flexible working arrangements gave them an opportunity to look further afield.

HOMEPAGE

9 Words from Nicki TV presenter and property expert Nicki Chapman gives her views on the housing market.

10 FTB loves…

A round up of our favourite treats for Easter.

12 Living

With spring just around the

corner, find some inspiration on how you can give your home a facelift using some pretty pastel and floral accessories.

14 At home with… Beth Otway

Beth Otway is a horticulturist and garden writer with a passionate interest in plant conservation. She has a passion for houseplants and her Surrey home is full of plants! She talks to Lynda Clark about her first home, her love of allotments, favourite gardening tools, and admiration for Martin Lewis.

16 House Hunter

We try to find a home for Casper Willis and Allesandra Dellano, who are searching for a one or two bedroom property in Kent or south east London.

18 Developer’s doctor Michelle Chidgey, Head of Sales and Marketing at OX Place, answers your property question.

FEATURED

20 The View: Charlie Lamdin

Charlie Lamdin is the founder of bestagent.co.uk, the home moving website, and presents the Moving Home with Charlie broadcasts on YouTube. Charlie tells Lynda Clark about his interesting career, his love of planes and has some excellent advice for first time buyers

24 Singles are doing it for themselves!

A new survey from leading property portal Share to Buy has made the surprising revelation that the majority

of prospective shared ownership buyers are actually planning to purchase their new home alone. Debbie Clark looks at the findings

30 Rent Happy!

London Living Rent could be the answer to help you eventually take that step on the property ladder. We highlight what Network Homes has to offer.

34 Rent today, own tomorrow – London Living Rent with L&Q

London Living Rent could help you to save money each month to put towards your first home deposit.

CHARLIE LAMDIN, PAGE 20 20

75 Competition

Seven lucky winners will win a £50 bundle of Harris indoor and outdoor tools.

REGULARS

32 Hotspot

We look at Hainault as a place to live.

86 Finance

Kay Hill looks at the different insurances you might need when becoming a homeowner, to ensure you protect your home and finances.

88 Market

Leasehold versus freehold; what first time buyers need to know. Ginetta Vedrickas explores what is involved.

90 Agony Agent

All your property questions answered by our panel of experts.

93 Buyer’s Guide

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

76 First home, first meal

Celebrate Easter with these lovely mini striped no-bake cheesecakes from Lakeland.

82 Staircasing – is now the time to buy more shares?

Bill Dhariwal, Director and Solicitor, and Bernard Arhin, Staircasing and Resale Conveyancing Executive at Lawcomm Solicitors review the new rules on staircasing and whether now might be a good time for shared ownership property owners to consider buying additional shares in their property.

84 Lifetime ISA Special

Cecilia Mourain, Managing Director at Moneybox gives the lowdown on Lifetime ISAs

98 Shared ownership – the new & improved product

Coralie Phelan, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, looks at what the changes to the shared ownership Lease in April 2021 means for first time buyers, and the advantages of the scheme.

100 Directory

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

106 20 Questions

We ask 20 quick-fire questions to Abi Culley, Operations Director at LSL Land & New Homes, The PX Hub and The SO Hub, who is in the spotlight this month.

Charlie Lamdin

VIEW AS MANY PROPERTIES AS YOU CAN AS IT’S THE ONLY WAY TO KNOW WHAT’S REALLY HAPPENING IN THE AREA YOU WANT TO LIVE

You’re a good egg!

FTB checks out the best Easter eggs for all the family.

Mailbox

ENERGY PERFORMANCE CERTIFICATE

I have seen the term EPC a lot in my hunt for my first home. What does this mean and is it important?

Issy Yorke

FTB says: EPC is an abbreviation for an Energy Performance Certificate and this gives your home a rating to show how energy efficient it is. When somebody is selling a property, they must make sure that the EPC is available for potential buyers to see. It is something you will want to make sure you look at, as it could influence your decision on buying a property as less energy-efficient homes are going to cost you more in the long term. An EPC also gives a list of recommended energy-saving home improvements tailored to a particular property to help boost its rating. Again, this is worth looking at as small changes could make a big impact.

This month’s star letter prize wins this versatile roasting tin from Lakeland worth over £25. Ideal to use for your special Easter lunch, it has an enamel finish and handy lid, which ensures that your tasty joint will stay succulent and your oven clean and sparkling! lakeland.co.uk

GREEN MORTGAGES

I am very keen to buy my first home and I have been looking into all the various mortgages that are available. What is a green mortgage and are they worth looking into?

Leila James

FTB says: A green mortgage is a new, profitable incentivebased mortgage that encourages homeowners to consider the environmental impact of their home. With the UK now making big moves towards its net zero goal, now could be a good time to benefit from such a scheme. To put it simply, a lender will

offer preferential rates to potential buyers who can prove that the property they are wanting to buy meets certain environmental standards. In the majority of cases, this will result in cheaper interest rates or cash back incentives to buy energy efficient properties. A lender could even increase the loan amount, which could be very beneficial. To be eligible, a property cannot have an EPC rating below an A or B. With not many people currently taking advantage of such schemes, now is definitely the time to get involved if the property you are looking at meets the criteria needed.

WRITE TO US!

Please send us your questions, comments and suggestions concerning property, or the articles in First Time Buyer magazine.

lynda@firsttimebuyermag.co.uk

RENT A ROOM SCHEME

I have just bought my first flat in London but I am worried that my mortgage payments are going to increase to a point where I’m going to struggle to afford them as I am on a variable rate. Is there anything I can do to gain more income through my own home?

Eloise Stewart

FTB says: A scheme that is becoming ever more popular is the Rent a Room Scheme that can generate some more money that can be put towards your mortgage payments. This is a Government initiative that lets you earn up to £7,500 per year tax free for letting out furnished accommodation within your own home. If you were to use the entire allowance, you could bring in an extra £625 a month. Obviously, the downside to this is that you will be sharing your home with someone else, but if you have a friend or perhaps a sibling that is in need of somewhere to live then this set-up could work very nicely to solve your mortgage money worries. Just keep in mind that you will need your mortgage lender’s permission in advance to do this.

BUYING WITH A PARTNER

My partner and I are looking at buying a property together. Could you outline the pros and cons of this so that we can see if this is the best decision for us.

Jessica Crossman

FTB says: It is common for couples to jump into buying a property together without talking about what the implications are if they were to break up. Putting two salaries together is an attractive idea as it means that you can borrow more money and look at more expensive properties. You really need to sit down and have a proper discussion about it though. If you can both afford

to put in 50-50 and you’re happy with that then everything is equal regardless of what happens. Commonly, though, this isn’t the case, with one party putting in more than the other. In this case, a “tenants in common” agreement is better suited as you can work out what proportion of the property you both own based on what you put in, so it is fair if anything happens down the line. A solicitor can draw up the documents.

VISIT OUR WEBSITE

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

WORLD

I have lost count of the headlines I have read about first time buyers struggling to buy their own home in recent months –and being priced out of the market. Anyone thinking about buying for the first time will undoubtedly be feeling the pressure – and maybe, not surprisingly, they might have even given up their dream of homeownership.

While it is true that the overheated market has been challenging –especially in terms of the availability of affordable mortgages – the reality is that now actually might be a good time for buyers. Let me explain…

Despite widely negative market depictions, I believe there are actually many opportunities available now for first time buyers eager to get on the property ladder. While the media portrayed a worrying and unstable property market following September’s mini-Budget, there are several emerging incentives which could provide aspiring home owners with some timely reassurance.

With drops in mortgage rates and average house prices, and an increase in incentives and schemes such as shared ownership, homebuying is still very much a feasible option for many1. Currently, average fixed mortgage rates are down to 5.6% from their August high, and lower rates are expected to remain relatively steady compared with the recent financial upheavals.

And why is buying still a good option? Well, one figure that continues to rise is the cost of rent. Zoopla reported that the average UK rent rose by 12.1% over the past year alone2. With an ongoing housing crisis within the rental market, flats are more expensive as well as harder to come by. Not a problem if you are managing to benefit from the hotel of mum and dad, but for those stuck in rental –this is not good news.

There is a range of products which can help you get on the ladder. The Lifetime ISA is an inflation busting account which can top up

your deposit by 25%. That’s the same bonus achieved by a Help to Buy ISA, however the Lifetime ISA can also be used for retirement savings. So, worry not if you missed the chance to open a Help to Buy ISA, there is still an opportunity to have your deposit topped up.

For those struggling to grow a reasonable deposit, shared ownership may allow you to take a first step on to the housing ladder and is a useful option if you can’t afford an entire deposit and mortgage repayments.

Even more good news for first time buyers, it seems the market has shifted away from favouring sellers in recent months. I’ve noticed the number of properties on the market growing, whereas demand has subsided, with price drops becoming more common giving prospective buyers the edge in many negotiations.

Even with these positive signs, I realise homebuying can still be a daunting concept. To combat some of the stress, I’d always suggest first time buyers make use of free, professional advice which will be available to them through the likes of mortgage lenders. So, rest assured, in an industry that has been painted almost as the first time buyer’s enemy, there are truthfully people there to help guide you through.

With all these emerging and longstanding incentives, which promise to

benefit the house buyer, it seems there is still hope even within a market plagued by worrying headlines and disbelievers. With the buyers’ market already experiencing some positive trends, 2023 could perhaps be the year to reinstate optimism among even more aspiring homeowners.

1propertyreporter.co.uk/five-things-to-give-aspiring-first-time-buyers-hope-rightnow.html

2thisismoney.co.uk/money/mortgageshome/article-11745083/Houseprices-2023-bring-down.html

TV and radio presenter and property expert Nicki Chapman gives her thoughts and views on first time buyers and the housing market

Hop into spring! The Easter bunny is on his way! If you are looking for the perfect Easter treat, decoration, gift or craft, then here at FTB we have a few ideas

Yes, you candy!

Personalised smash cup, £19.99, gettingpersonal.co.uk

The perfect alternative to an Easter egg or birthday cake! Nothing satis es a sweet tooth in the same way as this pink strawberry smash cup!

Ears to a great Easter

National Trust milk chocolate bunny shapes, £4.75, shop.nationaltrust.org.uk

A perfect sweet treat for all the family to enjoy.

Let’s get ready to crumble

Don’t worry, be hoppy Easter rabbit wreath, £8, hobbycraft.co.uk

Easter egg hunt tin, £48, biscuiteers.com

Gift this sweet display of Easter biscuits that comes with a fabulous tin which can be kept and used for years to come.

Brighten up your seasonal style with this Easter rabbit wreath. Created in the shape of a bunny, the pretty wreath features stunning oral details, with colourful egg ourishes.

Easter craft eggspert!

Easter bumper craft jar, £6, hobbycraft.co.uk

Create unique Easter bonnets, egg hunt decorations and seasonal cards with the contents of this fantastic box of crafts!

Ear-resistible

Bunny mug, £4.99, tkmaxx.co.uk

Chick me out!

Chick mug, £7, johnlewis.com

Enjoy a nice warm cup of tea or hot chocolate in these seasonal themed mugs!

SIMPLY SPRING

As we begin to look forward to spending as much time outdoors as we do in our homes, add a touch of spring and summer vibes to your space this season. Enjoy those longer evenings and the warmer sunny afternoons with florals, pastels, and the thoughts of the impending summer… we can’t wait!

Green vase, £12; jug, £6; crochet throw, £12; Riverside glass vase, £10; woven wood basket £15; woven seagrass mirror, £30; cottage print throw,£20; leaf cushion,£8; green cord cushion, £7; reactive glaze battery light, £9; green check throw £20; embroidered cushion, £10, George Home

, ,

Sheep cushion, £12.50, Matalan

Bundle of faux owers, £19.99, Homesense

Pastel mugs, £16, Next

Candle holder, £5.99, TK Maxx

Carrot napkin rings, set of 4, £12, John Lewis & Partners

Bee wall art, set of 3, £14, George Home

Candle holder, £4.99, Homesense

Female

Raf a placemats, pack of 2,

» George Home direct.asda.com » Habitat habitat.co.uk » Homesense homesense.com

» John Lewis & Partners johnlewis.com » Matalan matalan.co.uk

» Next next.co.uk » Primark primark.com » Talking Tables talkingtables.co.uk

» TK Maxx tkmaxx.com » Wilko wilko.com

Bedding

Cake stand, £10, Wilko

Bee cushion, £9, George Home

Rose cushion, £14.99, TK Maxx

Bobble vase, £26, Next

form ornamental vase, £9; round ornamental vase, £3; tin candle, £2, Primark

set, from £10; velvet cushion, £7, Primark

£21, Talking Tables

Bee wine glass, set of 4, £12, George Home

Cushion, £16, Habitat

At home with: Beth Otway

FTB: Tell us about your first step on the property ladder?

BO: My first property was a two bedroom, semi-detached cottage in Godalming in Surrey. I devoted a lot of love and energy to this property and created a beautiful secret garden. I had hoped to live there for a long time, but we ended up moving on after just two years. Some years later we were considering moving back to Godalming; the first house that popped up on Rightmove was our first home, which over the years had risen out of our price range.

FTB: How did you get into gardening?

BO: I’ve always been a gardener and I’ve always been fascinated by plants. As a child I spent all my time in the garden studying plants, flowers and butterflies, sowing seeds and taking cuttings. I love helping people and sharing my knowledge. When I was younger I would give my friends, neighbours and acquaintances advice on how to help their plants and so often they would ask me to write it down for them.

Beth Otway is a horticulturist and garden writer with a passionate interest in plant conservation, and holds the National Collection of Miniature Phalaenopsis Species and the National Collection of Miniature Aerangis and Angraecum Species. She has a passion for houseplants; her Surrey home is jam-packed full of plants! Beth talks to Lynda Clark about her first home, her love of allotments, favourite gardening tools and admiration for Martin Lewis

Photos © pumpkinbeth.com

I used to organise and write all the press releases for Godalming in Bloom. A couple of the local publications that received my press releases asked me if I would write a regular column for them. I’ve been a freelance garden writer for over 10 years and I’ve been writing my gardening blog, pumpkinbeth.com for nine years.

FTB: What advice do you have for first time buyers?

BO: Location really is key. A bathroom or kitchen can be impressive and captivating, but something similar can be recreated in every home, on every street. Eventually

kitchens and bathrooms become dilapidated and need replacing – whereas the view from the lounge window and the beauty of the local countryside, or the distance from the train station and journey time to a particular town or city is unique to the dwelling and is more important to evaluate and consider when buying a property.

None of us knows what the future holds, so one of life’s true luxuries is an emergency fund. This is something I’d recommend first time buyers save for. Ideally an emergency fund will cover six months’ worth of mortgage payments, bills, and essential expenditure.

“NONE OF US KNOWS WHAT THE FUTURE HOLDS, SO ONE OF LIFE’S TRUE LUXURIES IS AN EMERGENCY FUND. THIS IS SOMETHING I’D RECOMMEND FIRST TIME BUYERS SAVE FOR”

I have hundreds of ideas of how to save money in the garden, but for ideas on reducing household expenditure I take my inspiration from Money Saving Expert, Martin Lewis – who shares fantastic ideas and offers for saving money on all aspects of life, from tips for making smart purchases to reducing household bills and travel costs.

Moving home is an expensive, time consuming and stressful activity; it’s not something I would rush into doing again! Try to visualise different scenarios (positive and negative) for your future and consider the options and limitations that any potential home could offer when your circumstances change.

For me, the one incentive to moving home is the thought of all the different houseplants and garden plants I could grow! I love trialling plants and discovering the best houseplants for shaded conditions as well as for bright, sunny rooms. The option of a new houseplant or orchid trial is a tempting prospect!

FTB: If you are a keen gardener but you can’t afford a home with outside space, is there anything you can do?

BO: There are plus sides and drawbacks to everything in life and however big or small your budget, no property is perfect. If you want a garden but you can’t afford

to purchase a house or flat with a garden, consider purchasing a property near an allotment site or a local community garden. Having said that, in some areas there are waiting lists for allotments – so add your name to the list as soon as your offer is accepted. Another way to speed up your allotment application is to offer to take on a full or half-sized plot or volunteer to help an existing plot holder with their allotment.

Getting an allotment is a great thing to do! If you’re thinking of joining a gym, why not consider taking on an allotment instead? You could grow your own healthy food while taking exercise, making new friends, and socialising! I have so many happy memories of times spent at the various allotments I’ve tended in Scotland and Surrey. I’ve made some superb friends at my allotments and cultivated a vast range of edible plants and cut flowers. I’d recommend allotments to everyone; they can be life-enriching spaces!

Our lives are busy. Work and household tasks drain a lot of our time and energy. Naturally it’s easy to put off doing things. When you haven’t visited your allotment for a couple of weeks or more it can be quite a shock to see how much the weeds have grown. When you recall how hard you worked at your previous visit, seeing the plot look the same or worse than when you started can be very demoralising. Try to avoid this by aiming to visit your allotment at least once a week and ideally more often.

Some allotment holders prefer to have set days of the week to visit their allotment –perhaps one or more evenings after work in the spring and summer months, as well as a Saturday or Sunday.

When taking on an over-grown allotment, you might choose to spend your first visit clearing anything the previous custodian left on site. Then start at one side of the plot and begin clearing any plants you don’t want. Before you leave, sow at least one row of seeds, if you can. The types of seeds you can sow will vary depending on the time of year, as well as how sunny the site is, and what the soil is like.

At your next visit, start right at the beginning – at the area you weeded and cleared. Use a hoe to skim over the soil on your weed-free patch, taking care to keep your distance as you hoe around rows of seeds or seedlings. A hoe is my favourite tool. Hoeing the ground each week will help prevent weeds germinating. Next, water your seedlings if necessary and continue clearing. Before you leave, sow a row or two of seeds if you can. Repeat the cycle of maintaining your weed-free area at each allotment visit before you make a start on clearing new ground and remember to sow seeds before you leave.

For ideas of which seeds you could sow this month and tips on growing a wide range of orchids and houseplants, visit Beth’s website pumpkinbeth.com

“IF YOU WANT A GARDEN BUT YOU CAN’T AFFORD TO PURCHASE A HOUSE OR FLAT WITH A GARDEN, CONSIDER PURCHASING A PROPERTY NEAR AN ALLOTMENT SITE OR A LOCAL COMMUNITY GARDEN”

The HOUSE HUNTER

This month FTB goes on the hunt with Casper Willis and Allesandra Dellano, who are looking for a one or two bedroom home in south east London or Kent

What we found…

THE LONDON HOTSPOT THE LAID-BACK LIFE Sydenham Groves Sydenham, south east London

Southmere Thamesmead, south east London

Maximum budget £280,000

Requirements A one or two bedroom home in Kent or south east London – near the Kent borders. Good travel links, outdoor space and parking would be ideal

What they wanted…

Casper and I want to buy our rst home together after several years of renting in a shared house. We live in Bromley at the moment, which borders London and Kent. We’re interested in nding something within the area that’s more local to us but would be happy to move further into Kent, too. We’re both from Sevenoaks originally so have many connections in that area and in south east London. We need at least one bedroom, though two bedrooms would be a huge bonus, along with some outdoor space, such as a balcony or shared gardens. It’s really important that we can travel easily by train into central London. Casper and I both work from home, but he is often travelling to client meetings, so it would be great to have good transport links for that. We have a budget of around £280,000.

This new collection of one and two bedroom apartments has proven hugely popular since its release last year. With the high street and a choice of three rail and Overground stations within walking distance, this is a great spot for enjoying the local area and easily getting around and into central London. The properties are thoughtfully designed, with bright open-plan living areas that lead to outdoor space. There is on-site parking as well as playing space for families. A great opportunity to buy in an increasingly popular part of London.

peabodysales.co.uk

Residents will get a taste of laidback life at Southmere, which is alongside a lake. With a range of on-site amenities and good commuting links, everything you could need is on the doorstep. The site will eventually be home to more than 500 properties, including one, two and three bedroom shared ownership apartments. Inside, the properties have been thoughtfully designed, with open-plan living areas that open to generously sized balconies and terraces. Nearby Abbey Wood will soon bene t from Crossrail services.

peabodysales.co.uk

What they thought…

Sydenham is quite close to where we live now and we know it well. It’s a good area with lots to do nearby − we love the cafes and pubs in Forest Hill and Crystal Palace. The apartments look beautiful with tasteful styling, good layouts and lots of space. We particularly love how the development is set in a quiet cul-de-sac, but is also so close to the high street. I think you’d get a good balance here of quiet retreat combined with plenty of life, which is just perfect when you’re working from home a lot.”

What a stunning location this is − with some really great facilities on site, too! We love the idea of having new shops and restaurants nearby, and a brand new gym would be a welcome neighbour! The homes here are stylish and well designed, with plenty of natural light which is great for home working. It’s well positioned in terms of getting to work and family, and the whole area near Abbey Wood is being regenerated, so we’re really looking forward to seeing what happens here.”

Name Casper Willis, 32, and Allesandra Dellano, 32 Occupation Account manager, graphic designer

*Based on a 30% share of the full market value of £457,500

*Based on a 30% share of the full market value of £405,000

FROM £137,250* FROM £121,500*

THE WATERSIDE VISTAS THE BEST-OF-BOTH

Rochester Riverside Rochester, Kent

Ashmere Ebbs eet, Kent

First choice!

FROM

THE PERFECT BLEND

Kidbrooke Square Kidbrooke, south east London

FROM

Residents at this landmark development in Kent enjoy riverside and castle views, great commuter links and a range of stylish properties to choose from. The site, which will eventually comprise 1,400 new homes, will also include a 2.5km river walkway and 10 acres of open space, including play areas and landscaping. Homes will range from apartments to two, three, four and ve bedroom family houses, with open-plan living spaces, optimal natural light and private outdoor spaces. Trains into London St Pancras take just 37 minutes.

countrysideproperties.com

Casper and I have always loved riverside walks, runs and cycles, so this looks like an excellent spot for that. The properties themselves are super stylish and really appeal to us, too. In terms of getting around, the train links are great for Casper getting to meetings − and Rochester is in quite a good spot for seeing all of our families, too, as well as exploring Kent and beyond. Getting to know the area, the local sites and lovely surroundings would be a perfect way to spend the weekends here.”

With speedy travel into London and green surroundings, Ashmere offers a best-of-both worlds lifestyle. Properties range from one and two bedroom apartments to three and four bedroom family homes. Located 1.5 miles from Ebbs eet International station, trains to London St Pancras take as little as 17 minutes. Green spaces, walking and cycling routes are on the doorstep, with stunning countryside nearby. Local facilities are plentiful, with Bluewater shopping centre, eating out and entertainment, good schools and outdoor pursuits within a short drive.

countrysidepartnerships.com

This really does look like a fantastic place to live. With so many new homes in the area I think there would be a strong community feel, which is something we’re really keen to nd. As we’re always happy to be outside, we love that there’s an urban park within the development and that so much care has been taken to provide so much for residents on site. The links to London are excellent, while getting to Sevenoaks to see friends and family would only take around 20 minutes in the car.”

These new homes are positioned opposite Kidbrooke Village − an area that has bene ted from a great deal of regeneration and features brand new shops, local amenities and an award-winning park. The studio, one and two bedroom homes here are sleek and contemporary, with thoughtfully designed living spaces − which lead to private outside spaces − along with stylish, neutral decor. Upmarket Blackheath and world-famous Greenwich are comfortably close, while Kidbrooke railway station is seconds from the front door, for trains to London Bridge in just 15 minutes.

nhg.org.uk

THE NEXT STEP

“Kidbrooke Square seems like the right choice for us and we’d like to get the process of reserving and buying a home moving as quickly as possible. We have spoken to the shared ownership team and hope to have a mortgage offer sorted very soon.”

This is a really great location for us − close to some of our all-time favourite places, including Greenwich Park and Blackheath village. It’s the perfect balance of London and Kent for us as the Kent countryside is right on the doorstep and the city centre is so easy to reach. It’s great that the homes are so close to Kidbrooke station as it just makes getting around so easy. And, of course, the properties are lovely − just our style. We really like the sleek kitchens, with great open-plan living areas, plus there’s loads of light. Cator Park is right on the doorstep and would be perfect for enjoying the sun come the summer time.”

*Based on a 25% share of the full market value of £382,500

FROM £247,500

£295,000

£95,625*

Michelle Chidgey is Head of Sales and Marketing at OX Place, the wholly owned development company of Oxford City Council Michelle has over 24 years’ experience within the affordable housing sector, predominantly at senior management level, leading Sales and Development teams for: The Guinness Partnership, Hastoe Housing Association, First Wessex (now Vivid) and A2 Dominion. Michelle has worked on the provision of housing both nationally and regionally within urban and more rural parts of the country. Now, she is concentrating on meeting the need for affordable housing in Oxford

QI’m a recently graduated nurse, living with my partner outside of Oxford. I’d prefer to be nearer to the city, but prices are exceptionally high, even to rent. We’d love to buy somewhere but imagine that this could mean an even longer commute. What advice would you give to someone trying to get on the property ladder in such an expensive city?

AIn 2016, Oxford City Council established OX Place as its own housing company to create high-quality, genuinely affordable homes in the city. At OX Place, we’re responsible for building the homes local people need. Our profits are re-invested back into the city, to provide essential services for local people, and into building more homes for people who need them. As well as building homes to rent via Oxford City Council, we build homes you can buy outright, as well as homes you can buy a percentage of, known as shared ownership.

We also build council-owned rented homes for those who need a safe, high-quality, affordable rental home in the city. We provide affordable homes for the people of Oxford which include key workers, such as nurses, doctors, university researchers and local school teachers. In short, we build high-quality, beautiful and sustainable homes that people in Oxford can actually afford to own and rent.

I would like to say that I was over the moon to be invited to join OX Place, as it’s an exciting time for Local Authorities (and in particular OCC) that are growing their expertise in the delivery of a more diverse range of affordable living options and helping people like yourself.

I am especially keen to promote the benefits of shared ownership, which could well be the best option for you. Shared ownership is when you buy a percentage of the home and rent the rest. This enables you to get on the property ladder with an initial percentage share (of the

outright purchase price) which is currently from as little as 25% and with just a 5% deposit on your share. The remaining share is owned by Oxford City Council, with rent payable on the share the council owns. The reality is you could be purchasing your share of say a £300,000 home from as little as £75,000 (subject to a mortgage assessment) with a deposit of only £3,750. You can buy more shares at any time (called staircasing) through to outright ownership in most cases. From my experience

FROM £98,750* (SHARED OWNERSHIP) £535,000 (PRIVATE SALE)

Standing proudly in the heart of Oxford’s historic city centre, Bridges Cross is a brand new development of contemporary apartments providing a unique opportunity to call this sought-after location home. Bridges Cross hosts 10 private sale two and three bedroom apartments starting from £535,000. There are also eight one bedroom apartments available to buy through shared ownership with a 25% share from £98,750.

it is an aspirational product that performs really well in high-value areas such as Oxford.  My first projects with OX Place have all been oversubscribed and have responded to Oxfordbased residents from different backgrounds who wouldn’t otherwise have been able to buy a home of their own in the city.

We’re looking forward to selling more shared ownership homes on a future programme of schemes across the city in areas such as Littlemore, Iffley, Cowley and Marston.

Bene ting from views of Oxford’s world-renowned architecture, alongside high street shopping and wider connections, Bridges Cross is the perfect city-centre location to call home.

From a bird’s eye view, Bridges Cross sits equidistant between Botley Bridge and Magdalen Bridge in Oxford, a few minutes’ walk from the very centre of the city, bene ting from the huge range of culture, connections and shopping Oxford has to offer.

For further information or to arrange a viewing please contact the Breckon & Breckon New Homes Team on 01865 261 222 or email newhomes@breckon.co.uk

*Based on a 25% share with a full market value of £395,000

Oxford, Bridges Cross

Michelle Chidgey, Head of Sales & Marketing, Ox Place

FLYING HIGH!

Charlie Lamdin is the founder of home moving website bestagent.co.uk and also presents the Moving Home with Charlie broadcasts on YouTube. His fascinating life has certainly had its ups and downs as he explains to Lynda Clark. He tells her about his interesting career, his love of planes and has some very good advice for first time buyers

Photos: Belinda Lawley

"I AM PASSIONATE ABOUT TRYING TO END HOMELESSNESS AND I AM WORKING WITH LOCAL COUNCILS TO TRY TO HELP THIS TERRIBLE SITUATION"

"ALWAYS TRY TO HAVE A MORTGAGE IN PRINCIPLE READY WHEN YOU MAKE AN OFFER ON A HOME AS IT IS FAR MORE LIKELY THAT THE OFFER WILL BE ACCEPTED BECAUSE YOU ARE READY TO GO"

"THE THRILL OF FLYING A SEAPLANE IN PLACES LIKE THE FJORDS IN NORWAY, ALASKA AND MAINE AND NOT EVEN KNOWING WHERE YOU’RE GOING TO LAND IN THE WILDERNESS IS INCREDIBLE. IT’S A PROPER ADVENTURE"

Over the years I have done some fascinating interviews with all sorts of people. But, when I went on to Zoom to interview Charlie, I was totally surprised! He was standing in an airfield by one of his planes looking totally relaxed and very much at home – this must have been one of the strangest but most exciting interviews I have ever done!

Charlie’s birth father was a world-famous Portuguese concert pianist and when Charlie was very young his mother and father divorced. His father went to Brazil in 1980 and has never been seen again. When he was five his mother remarried. “I had a charmed childhood and lived in Sussex in an old farmhouse with the extended family and I had a very happy time. When I was just eight years old I was sent to boarding school, which wasn’t the best but I made some incredible lifelong friends there. I then went to Charterhouse but I was very badly bullied and that time was not a happy one for me. I then went to Stowe and was eventually expelled despite even worse bullying and did my A-levels at a tutorial college in Brighton. That was great fun and Adele’s ex-husband, Simon Konecki, was a close friend back then.

“My first job was working for a notorious kitchen company. I went on an intensive sales course and was paid commission only. The first kitchen I sold was to a single mum for £10,000. She couldn’t afford it, but I got £600 commission. It made me feel very guilty and uneasy about the whole way the company operated, so I quit.”

At just 19 he was ready to face the bigger world of employment and he got a job as an insurance broker in the city. After a year, he was invited to spend two months in the Caribbean with his girlfriend and decided to leave.

When he got back, through one of his stepfather's contacts, he then started another job as a Junior Broker with one of the largest brokers on LIFFE (London International Financial Futures Exchange). “It was absolutely crazy, there were 2,000 people in one room, shouting at each other and talking on the phones doing deals. It was bedlam. It was a totally male-dominated society with very few women and those women that worked there had a very tough time. Again, I was physically and mentally bullied – I had my drinks spiked and was screamed at and demoralised by some of the other traders – it was really awful. Eventually one of the directors publicly accused me of something I didn’t do. Because I publicly defended myself he didn’t like it, and fired me. But I got six months' pay and it was a huge relief!”

At this time, many of his school friends had finished university and were planning on spending the summer partying and having fun before they settled into work. “I knew they would be having the best summer so I decided to join them and after my last terrible working

experience I knew I could never work for anyone ever again as I am just not the type of person to sit in an office all day.”

For the next five years Charlie ran a mobile car washing company from the back of his Land Rover in Sussex. “It was very, very hard work as we were open seven days a week and washing cars is a very physical job –believe me! I got the contract for valeting VW dealerships and also had a hand car wash in Crawley. I had 16 people working for me with so many different characters including exconvicts. We had some really good customers but there were gangsters trying to muscle in on the business so I had to watch my back. I learned a lot about the real world.”

It was then that Charlie inherited £25,000 from his grandfather and decided to buy his first property. “I kept £1,500 back for conveyancing fees which left me with £23,500. I saw a flat which was on the market for £35,000 and I decided to make an offer, telling the estate agent that was all I had, and amazingly it was accepted. I did quite a lot of work on it and rented it out. It was unbelievable that the tenant who I rented it to bought it a year later for £55,000 so I made a decent profit. I then bought again in Hastings and did exactly the same thing and again the tenant bought it – incredible. Sadly, I got meningitis and it took me a very long time to recover and I had to leave the car washing business.”

In 1998, he started Datography with a techie entrepreneur partner. They invented the first one-stop virtual tour, professional photography and floor plan service to estate agents in both London and Sydney, Australia. Foxtons, then privately owned, copied the idea and Charlie sued them for copyright infringement and won an out-of-court settlement. The company grew and they gained 16 investors but sadly he ended up falling out with his investors and partners and Charlie ending up losing his job, his shares and the company imploded.

Never to be beaten, in 2003 he started up a new competitor, BPM, with an old friend. They grew even faster, reaching 120 staff in three countries. “We were open 24 hours a day and could turn the photos and floorplans around in super-quick time. But my former partners first tried to bury me in litigation and when they failed they asked me to merge my new business with Datograpy. I absolutely refused as I didn’t want a repeat of what had happened before.”

Sadly, the financial crisis of 2008 finished BPM off and he started his third tech start-up. “I offered an amazing service and had clients all over the country. I had access to data which gave me an insight on how residential sales and lettings were going which was invaluable to any estate agent.”

Always up for a new venture, Charlie was also the drummer for Lloyd Grossman’s

punk band, The New Forbidden. He married singer/songwriter Liz Cass in 2006, which ended in an amicable divorce two years later. But he then found a new passion, flying light aircraft. “I absolutely love planes and I got my private pilot's licence in 2010 and then in 2014 I got a seaplane rating too. There is nothing quite like it and I am totally hooked on flying. The thrill of flying a seaplane in places like the fjords in Norway, Alaska and Maine and not even knowing where you’re going to land in the wilderness is incredible. It’s a proper adventure.

"I have three children with my partner Annemarie, who are seven, six and seven months old and they are home schooled. My dream is to fly my family around the world in a seaplane. The older two are ahead in reading and maths and we encourage positive, challenging play. We are basing it on the Finnish system of parenting and it’s working very well.”

In 2016 Charlie started his own software development company in Lisbon, Portugal, where he also has family. BestAgent, a national property website, is now fully operational and connects movers and agents in a new way. “I have been in the business for a long time and with all my knowledge I want to make the experience of buying and selling property the best it can be for everyone. I have started three YouTube channels. Charlie Lamdin’s Vlog is a personal diary channel which documents my family and flying adventures, BestAgent is a property industry channel for estate agents and finally there is Moving Home with Charlie where I share my insights and knowledge with homemovers. It gets over 200,000 views a month and I have 25,000 followers on TikTok.”

Charlie has some excellent advice for first time buyers. “Firstly, view as many properties as you can as it’s the only way to know what’s really happening in the area you want to live. Always try to have a Mortgage in Principle ready when you make an offer on a home as it is far more likely that the offer will be accepted because you are ready to go. Do not overpay for a home even though you think you can afford it. If you go way beyond your initial budget it often leads to you being in negative equity. Finally, be nice to estate agents – by being reasonable and respectful to them you will find that they will treat you in the same way and they will give you priority if a suitable home comes on the market.”

“My goal is that everyone should have a home of their own. I am passionate about trying to end homelessness and I am working with local councils to try to help this terrible situation. I am on a mission and once I get started on something I just won’t stop.”

bestagent.co.uk

mhwc.co.uk

youtube.com/movinghomewithcharlie

SINGLES ARE DOING IT FOR THEMSELVES!

Single

and hoping to get a foot on the

property ladder

In the survey of over 2,600 users on sharetobuy.com, 57% of respondents confirmed that they are looking to buy a property solo. Buying without the support of a partner, friend or family member bucks the UK trend; national statistics suggest that couples – both with and without dependent children – were the most common household type among homeowners in 2022, making up 59% of all mortgagors.

So why this significant difference? The upfront costs – 77% of respondents to the survey said they did not think they could currently afford to buy a property on the open market without the help of alternative homeownership schemes. Given that the average deposit for a single person on the open market is now £74,402, this is hardly a surprise. In stark contrast, the average deposit for a one bedroom London apartment on the Share to Buy portal is currently sitting at just £8,652.

In the current financial climate, this additional support is more important than ever for many prospective buyers – 71% of hopeful shared ownership buyers say the cost-of-living crisis has reduced the amount of money they are able to save for a deposit each month.

Nick Lieb, Head of Operations at Share to Buy, comments, “It’s no secret that this is a difficult time for those looking to buy a home, with interest rates skyrocketing, and the cost-of-living crisis impacting how much money people can realistically save each month.

“The results of our survey are clear –affordable homeownership options, such as shared ownership, are now completely critical, allowing thousands of first time buyers to purchase a property in a climate where they otherwise wouldn’t have been able to. It is unmistakable that demand is still strong – 60% of our surveyed users plan to buy in 2023, and with the help of shared ownership they aren’t as restricted by sky high deposits and ever-changing mortgage rates. The fact that the majority of hopeful shared ownership buyers are purchasing on their own is testament to how significant the support of this scheme really is.”

While the property market continues to face economic uncertainty, first time buyers remain unwavering in their goal of securing their own home. Taking increasing interest rates in their stride, they are undeterred and looking at how to overcome any financial obstacles faced. Since 76% of

survey respondents confirmed they have not received any money from parents or family members to put towards their deposit, it is crucial that financial support is available from an outside source.

As a Government-backed scheme, shared ownership enables buyers to purchase a share in a home, paying a mortgage on the part they own and a subsided rent on the rest. As the buyer only needs a mortgage on the share that they are purchasing, the amount of money required for a deposit is often substantially lower when compared to buying a private sale home. This allows hopeful homeowners to take a step on to the property ladder at a much more realistic price.

If you’re planning on buying a property alone, do your research; make sure you know what support is available. Share to Buy is the UK’s leading independent website for first time buyers, and a great place to start. The site lists over 12,000 homes available through alternative housing schemes every year, as well as providing a wealth of independent information and how-to guides for budding buyers. Owning a property in 2023 may be more realistic than you realise, and even save you money each month, long term.

this year? Shared ownership may be your answer. A new survey from leading property portal Share to Buy has made the surprising revelation that the majority of prospective shared ownership buyers are actually planning to purchase their new home alone. Debbie Clark looks at the findings

FOREST GATE Earlham Square

Two and three bedroom apartments are available on this established leafy road in Forest Gate. All homes offer Zanussi integrated fridgefreezer, dishwasher, hob and oven, as well as a freestanding washer-dryer. The development is designed to be people focused, with close attention paid to the quality of outside space as well as the interiors; all apartments have their own private balcony or terrace, and landscaped courtyards interlink the buildings. Earlham Square is conveniently located just minutes from a range of local amenities, including Forest Gate station –offering fast, frequent rail connections to the city and surrounding counties.

newhomes.gatewayhousing.org.uk/developments/earlham-square 020 3376 6455

NORWICH Broadland Fields

Legal & General Affordable Homes is offering newly built, energy-ef cient, two-storey three and four bedroom homes at Broadland Fields on the edge of Norwich. All homes include modern, open-plan living areas, full of natural light.

Kitchens are streamlined and well equipped, with integrated appliances and ample workspace. Finished to a high speci cation, every home also has space for a home of ce, and includes two parking bays and a garden.

landgah.com/scheme/broadland- elds 01603 385 340

HARROW Harrow and Wealdstone Heights

FROM £152,500* FROM £112,000* FROM £81,250*

Located in the heart of Harrow, Origin housing is offering a brand new collection of 81 contemporary one and two bedroom apartments. Every apartment at Harrow and Wealdstone Heights has access to a private balcony, with a further communal roof terrace offering a view of London’s skyline. Impressive eco-credentials for the development include a ground source heat pump and solar panels used to power communal lighting. A central public realm will accompany the new homes; residents will have access to landscaped green spaces including new play areas and mature planting. Perfect for commuters, the development is located just a few minutes’ walk from Harrow & Wealdstone station. Residents will bene t from easy connections into central London, with journeys to Euston taking just 12 minutes.

originhousingsales.co.uk/harrow-wealdstone-heights 0300 323 0325

Sarah, 46, has recently purchased a 35% share of a two bedroom semi-detached house at The Arbour in Beaulieu, Chelmsford, through L&Q. After a turbulent period of renting privately in Chelmsford, with partner Darren and her 13-year-old son Harry, she is nally settled.

Sarah explains, “I’ve always privately rented, and I think once you’re on the ‘renting boat’ it’s really hard to get off it. I never thought I’d be able to afford to buy a house, so renting always felt like the only option. I used to look at friends my age who had their own place and felt like they were all sorted, and we weren’t in the same position.

“Unfortunately, over the years we’ve had a few landlords kick us out – either they were selling the place or wanted the property back for whatever reason. In every new place we lived in I was always expecting a call saying, ‘you need to leave’. It was really horrible and unsettling.”

Sarah had heard of shared ownership but assumed she wouldn’t qualify. In fact, she was so sceptical that it was actually her sister who phoned L&Q initially. She recalls, “It was like some sort of miracle unfolding. I kept thinking we wouldn’t be eligible, but we progressed through each stage of the application and all of our nancials were approved – I couldn’t believe it. At Easter, all three of us went to view the show home, and it was incredible. The property was brand new, the rooms were so large, and the location was perfect. We put an offer in straight away.”

The timelines were tight between the family’s rental contract ending and the house being ready to move in to but, Sarah says, the team at L&Q did absolutely everything they could to make sure the house was ready. It’s safe to say the family are happier now than they ever have been. “I cannot nd a fault,” says Sarah. “The house is so lovely, and the area is amazing. It feels incredibly safe here – there are loads of footpaths and cycle paths, so Harry can now cycle to school in the morning, and I’m not concerned about it at all.”

Most importantly, Sarah knows she will be at The Arbour long-term – no longer needing to move house every few years. She concludes, “The luxury of shared ownership is that no one can ask us to leave any more. I’ve been on the edge for years expecting that call, but now I nally feel settled knowing that this house is mine. I feel so much more positive these days.”

*Based on a 25% share of the full market value of £610,000

*Based on a 40% share of the full market value of £280,000

*Based on a 25% share of the full market value of £325,000

ABBEY WOOD Southmere

FROM £121,500*

Southmere is one of the rst milestones in Peabody’s ambitious regeneration of Thamesmead, a project delivering over 500 homes as well a public square, a library, tness studio, cafe and other commercial and community spaces to follow.

Overlooking the iconic Southmere Lake, the development is conveniently located just a 10-minute walk from Abbey Wood station. Residents bene t from more than double the amount of green space per person than the London average and direct access to the podium garden.

peabodysales.co.uk/developments/southmere

020 3369 2170

CHELMSFORD

The Arbour

FROM £78,750*

L&Q is launching an exclusive collection of one and two bedroom shared ownership apartments at The Arbour, forming part of the award-winning Beaulieu neighbourhood.

The apartments have been designed to minimise energy consumption and are available in three different speci cations: Classic Contemporary, Timeless Warmth and Cool Style. Kitchens come with integrated appliances including an oven, hob, fridge-freezer, dishwasher and washing machine.

Nestled within the 176 acres of green public space that make up Beaulieu, The Arbour is ideally situated for those who enjoy exploring the outdoors. A seven-minute drive away is the bustling hub of Chelmsford with a vast array of cafes, restaurants and bars, plus a good selection of independent and high street shops including John Lewis.

A short walk away is Beaulieu Square, offering a number of essential shops and facilities on the doorstep, such as a day nursery, Sainsbury's Local and takeaway options.

The Arbour enjoy easy links by train, with Chelmsford station offering journeys of less than 30 minutes into central London. Beaulieu railway station is set to open in 2026, which will create further transport links across the east of England.

lqhomes.com/beaulieuarbour

WIMBLEDON

The Switch

FROM £133,750*

The Switch is a collection of 181 one to three bedroom apartments, with a selection of two bedroom apartments remaining. All residents have access to communal podium gardens, and most also enjoy private outdoor space. Homes are built to a high speci cation with premium ttings and nishes throughout. With acres of green space to enjoy on the doorstep, including Wimbledon Park and Wandle Meadow Nature Park, and a 20-minute walk to Tooting Bec Food Market for an array of gourmet street food, the location is ideal for those keen to explore their local area.

catalyst.homes/development/the-switch

020 8131 9746

020 3369 2170

NHS Business Manager Kanwal, 46, has just bought a 40% share of her one bedroom shared ownership home through L&Q. Having spent a decade renting in east London, she decided it was time to get on to the property ladder, but it wasn’t as easy as she had expected.

Kanwal explains, “When I rst began my search about a year ago, looking in places like Aldgate East and Hackney, I was dismayed to discover that most properties were out of reach on my single income, or really weren’t very nice! It was disheartening to think that, even after 10 years of renting and saving for a deposit, buying in London might not be a realistic goal for me.”

Kanwal, a baking blogger and founder of the website and Instagram page @incredible.kitchen, recalls, “All the properties I initially viewed did not t my criteria – mainly they were small, cookie cutter sized properties that were poorly laid out and felt very claustrophobic. I was desperate to nd somewhere with a large kitchen, where I would feel inspired while baking and creating blog content.”

Determined, Kanwal spent time researching all of her options. Using the Share to Buy property portal, she arranged viewings for several one bedroom homes across east London. It was L&Q at The Silk District that eventually captured Kanwal’s heart. She says, “I didn’t know Whitechapel particularly well, but the amenities on offer such as the on-site gym and cinema were too good to miss – it’s rare that you see anything like this with rst time buyer homes… The living space and bedrooms were the biggest I had seen, and the kitchen was modern and stylish and even came with integrated appliances – it really ticked all my boxes. L&Q had really thought of the people who would live there, rather than just delivering a collection of buildings.”

She continues, “As a keen baker and cook, having a gorgeous kitchen/dining space has been a dream for hosting dinner parties. Plus, the development is right in the middle of Whitechapel, close to the market where I can source ingredients and less than a 10-minute walk to the station, meaning I’m well-connected to the rest of London. I already feel very settled in my new home. The development is perfect for me – having access to green space has changed the way I live my life and I feel very safe – what more could you ask for? I love this place!”

*Based on a 30% share of the full market value of £405,000

*Based on a 25% share of the full market value of £535,000

*Based on a 35% share of the full market value of £225,000

SOUTHALL, EALING

Union Walk at the Green Quarter

One and two bedroom apartments are ready at this exciting new community with a school, retail and leisure hub, restaurants, cinema and parks. Homes are nished to an excellent standard, with exible open-plan living areas and stylish kitchens complete with a range of integrated appliances. Many homes also bene t from private balconies. Outdoor leisure spaces include an amphitheatre, play areas, and tness trails. The development, along the Grand Union Canal, will feature tree-lined avenues, 2,500 freshly planted trees and living green roofs to enhance the biodiversity of the area, located just a ve-minute walk from Southall station.

latimerhomes.com/new-build-homes/london/ ealing/union-walk-at-the-green-quarter 0300 100 0309

WHETSTONE

SO Resi Whetstone

Sitting on the tree-lined Oakleigh Road North in Whetstone, this new development of one and two bedroom apartments from SO Resi is built around an attractive landscaped central courtyard. There are balconies or terraces to each apartment giving a spacious feel and plenty of places to unwind outside. A short stroll will take you to High Road, with its cafe culture, shops and foodie pubs, while the tube station is conveniently positioned just a mile away.

soresi.co.uk

020 8607 0550

*Based on

CASE STUDY

WELWYN GARDEN CITY SO Resi Welwyn Garden City

This selection of one and two bedroom apartments available to purchase with shared ownership forms part of an impressive development created around the landmark Shredded Wheat factory. These light and airy homes are perfect for anyone who loves the vibrancy of modern life surrounded by lots of green spaces. From Welwyn Garden City it takes just a 29-minute train journey to London King’s Cross. All apartments will bene t from a balcony or terrace to enjoy the local scenery.

soresi.co.uk

020 8607 0550

FROM £71,875* *Based on a 25% share of the full market value of £287,500

ENFIELD

Trent Park

Trent Park is a unique development in the north London triangle of Oakwood, Cockfosters, and Hadley Wood. The Kendrick and The Chase Collections available at Trent Park, through Legal & General Affordable Homes, offer a selection of one and two bedroom apartments with generously sized rooms, nished to a high speci cation. These homes are full of natural light, and have been carefully designed to complement the semi-rural setting. It’s hard to believe you’re just a 15-minute drive away from the M25. For commuters, it’s a 26-minute tube journey to King’s Cross from Oakwood station. landgah.com/scheme/trent-park

020 4579 8490

“I discovered that the cost of renting had increased dramatically,” Emma recalls. “Finding a new home had not been on our agenda and my family and I were stuck between not wanting to leave our close community, but being nancially unable to continue renting in the area.”

Having initially assumed the shared ownership scheme was for homebuyers in their 20s or 30s, Emma was delighted to discover that they met the requirements for it after all, and the family have managed to stay in the community they love.

A self-confessed “new build convert”, Emma admits, “I was previously sceptical of new builds but with a little persuasion from Paul I agreed to view one and my mind was instantly changed. I was so impressed with Oak Point that we decided to buy a two bedroom semi-detached house off-plan.”

Their positive experience didn’t end there. Emma enthuses, “When it came to completion day, my expectations were exceeded and we’ve been over the moon since we moved in here in January. Although we didn’t want to move house at rst, our new home is so impressive and I can see that what started out as a stressful situation actually happened for a reason. The modern features of our house are fantastic and I love all the high-tech appliances. We would never have these luxuries if we were still renting. This home is working so well with my family’s day-to-day lifestyle and we’re happier than ever.”

Emma is also loving the views. “I can look out of my window and revel in the remarkable views of the South Downs,” she says. “There is so much sky when I look up and they’ve recently planted daffodil bulbs which are already adding beautiful splashes of yellow to the gardens here. I also like to take the short walk down some steps to a local farm shop and during the day I sit in the garden surrounded by nature and I can hear the donkeys, sheep and horses roaming in their nearby eld.”

RENT HAPPY!

Network Homes is passionate about helping every first time buyer and because it realises it can be tough to raise a deposit, the organisation is offering London Living Rent at some of its developments, which is the perfect way to save and buy.

Funded by the Mayor, the idea behind London Living Rent is to help people switch from renting to shared ownership. It is designed for people who want to build up their savings to eventually buy a home through shared ownership.

Offered on tenancies of a minimum of three years, first time buyers are offered below-market rent and are supported to save and given the option to buy their home on a shared ownership basis during their tenancy. The amount of rent they pay will vary according to where they want to live in London but it is substantially less than private sector rents and the Mayor publishes

benchmark levels for every neighbourhood in the capital, which are updated annually. These are based on a third of average local household’s incomes and adjusted by the number of bedrooms in each home.

AM I ELIGIBLE FOR A LONDON LIVING RENT HOME?

To be eligible for a London Living Rent home, you must:

 Live or work in London

 Either have a formal tenancy (for example, in the private rented sector) or live in an informal arrangement with family or friends as a result of struggling with housing costs

 Have a maximum household income of £60,000

 Not own any other residential property.

Network Homes was invited to pilot the rst London Living Rent development at Le Bon Court in Harrow. Over ve years, in a 23-apartment development, three residents now own a par-share in their rented home, ve are in the process of buying a share and a further 10 have gone on to buy their own home elsewhere.

Across London, the average monthly rent for a two bedroom London Living Rent home is around £1,077 a month, almost three-quarters of the average market level. The rent levels are derived from average local incomes and ward-level house prices, with the rent for a two bedroom property generally based on one-third of the local average household income.

Unlike standard 12-month private sector rental agreements, Network Homes offers longer assured shorthold tenancies of up to three years, to give residents peace of mind and security while they save. London Living Rent rental contracts can be renewed, if needed, for up to 10 years after the launch of each scheme, during which time residents will be able to gradually build up their purchase deposit.

Juliana Goode, Senior Build to Rent Manager

We know how hard it is to save for a deposit to buy your first home, but London Living Rent could be the answer to help you eventually take that step on the property ladder

Living Rent

ISLEWORTH, HOUNSLOW

St John’s Road

Network Homes' brand new development of one, two and three bedroom homes is available with London Living Rent. Perfectly located for your journey from renting to owning your own home, these light and airy apartments in west London (Zone 4) are the perfect choice for city, nature, culture and leisure and a quick and easy commute – who could ask for more?

Easy access to the tube and rail networks puts central London within easy reach. Locally, there is a host of leisure opportunities to enjoy including Waterman’s Arts Centre on the riverfront, which is a cultural hub showing live and recorded performances and exhibitions. Those who enjoy the great outdoors will be spoilt for choice, with many walking and cycling routes within easy reach. Syon Park offers 40 acres of gardens to wander in and Osterley Park also has acres of parkland to explore. For all your daily shopping needs there are supermarkets, plus a post of ce and pharmacy around the corner and many independent outlets nearby too. In addition, there is also a great selection of pubs, cafes and restaurants on the doorstep.

The high-speci cation, open-plan apartments are spacious and light, with high ceilings in all the living spaces. The larger two and three bedroom homes include an en suite shower room, in addition to the main bathroom. Kitchens come with integrated appliances including a fridgefreezer, dishwasher and washer-dryer. Each apartment also comes with a balcony or garden.

To register your interest go to: networkhomes.org.uk/londonlivingrent

Hainault HOTspot

In north eastern Greater London, nestled between two country parks, sits the suburban community of Hainault. With Liverpool Street and Stratford under 30 minutes away (via the Central Line), the development of new, affordable homes is making the area even more desirable to first time buyers

UNDER THE SPOTLIGHT

Located in the London Borough of Redbridge, and bordering Essex, Hainault is located 12 miles north east of Charing Cross, and three miles east of Woodford. With a wealth of countryside on the doorstep, the area appeals to nature lovers and tness fanatics alike.

Records of the area date back to the 13th century, with Hainault mainly forest owned by the nuns of Barking Abbey, and forming part of the Forest of Essex; Hainault means "wood belonging to a religious community". The area’s timber was predominantly used for building ships and houses but a decline in demand for timber led to an Act of Parliament authorising the deforestation of much of Hainault Forest in 1851. Urban development had begun. The Great Eastern Railway opened a station at Hainault in 1903 on its newly built Ilford to Woodford branch line, but it wasn’t until the late 40s and early 50s that most of the housing in Hainault was built by the London County Council. Hainault station became part of the London underground system in 1948 and it is its location on the Central Line (Zone 4) which makes Hainault perfect for commuters today.

Hainault residents actually bene t from two Central Line stations, with both Hainault and Grange Hill stations under a mile away, offering connections to the city (Liverpool Street and Stratford) in under 30 minutes. Hainault is also

1 The Central Line

2 An abundance of green spaces

3 A strong community feel

4 Nearby West eld Stratford City

5 Celeb spotting in Chigwell!

directly served by London bus routes 150, 247, 362, 462 and N8.

While there is an obvious appeal for those travelling into the city to work, Hainault Business Park, located to the south east of the residential zone, has bene ted hugely from local regeneration. More than 150 companies now operate here, meaning there are plenty of local employment opportunities too. The architecture of Hainault is also shifting, with the likes of Edge, an exciting new collection of apartments from Countryside, leading the way.

OUT AND ABOUT

Hainault has a decent parade of shops including a Tesco Express, bakery, butcher and post office, in addition to a small selection of eateries. While it should be perfectly sufficient for your day-to-day needs, the town of Chigwell – just a short drive or bus ride away – has a broader range of amenities. And, of course, the Central Line means everything the capital has to offer is also within easy access!

new housing in the area is offering even more professionals

As Londoners priced out of town actively seek out relatively affordable corners of their city, the demographic of Hainault is shifting. The vast majority of homes are now owner-occupied, and new housing in the area is offering even more young professionals and families the opportunity to make Hainault their home. For families, there are day nurseries, three primary schools and a secondary school, The Forest Academy (which opened in 2012), all in the immediate vicinity.

If you’re in need of a pamper, neighbouring Chigwell is home to a number of beauty salons and designer boutiques, perhaps unsurprising given its TOWIE links! There are also some fab independent stores, and you’re only about half an hour’s drive from Lakeside. If you aren't driving, no problem – living in Hainault you’re a short tube ride from the shoppers’ paradise of Westfield Stratford City; located just nine stops, or 20 minutes, away, with over 250 shops and 70 restaurants to enjoy.

Chigwell also has a decent selection of evening entertainment, with pubs and restaurants to suit all tastes. However, be warned, if your taste is fine dining you may struggle to get a table at Sheesh; housed in the 16th century Ye Olde Kings Head, and owned by Sir Alan Sugar, this exclusive Turkish dining experience is very

warned, if your taste is

5 REASONS WE LOVE… HAINAULT

FACT FILE

Average property price in Redbridge (October 2022) − £487,315

Property breakdown*

Detached – £1,068,704

Semi-detached – £689,311

Terraced – £529,055

Flat – £317,314

*According to the Land Registry House Price Index

HOMES ON THE MARKET...

£304,995

FAMOUS RESIDENTS

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Neighbouring Chigwell is also home to many footballers and minor celebrities!

HAINAULT Edge

Edge is an exciting new collection of high-speci cation one, two and three bedroom apartments ideally located in Hainault (Zone 4). There are two Central Line stations, Hainault and Grange Hill, less than a mile away, which give you connections to London Liverpool Street and Stratford in under 30 minutes.

popular with celebrities. Fortunately, there are plenty of other excellent (and more affordable!) choices from predictably good steak at Miller and Carter, to delicious pizza at Casa Pipino and traditional pub grub at The Three Jolly Wheelers.

With two country parks on the doorstep, Hainault has an obvious appeal to those seeking an active lifestyle. Hainault Forest Country Park offers a variety of walking trails, a cafe and small animal farm, as well as a boating and fishing lake. Fairlop Waters Country Park has sailing, rowing, and windsurfing available on its large lake, and also boasts the largest boulder park in the UK. Nearby Hainault Golf Club offers 36 holes of golf, set in over 300 acres.

There are also plenty of picturesque jogging trails in the area – or gyms if they are more your scene. Redbridge Sports and Leisure Centre is just two miles away, on the outskirts of Hainault, and home to a state of the art 100-station, air-conditioned gym, with indoor and outdoor pool, sports arenas for squash, badminton and more. There is also a David Lloyd leisure centre in neighbouring Chigwell.

There are also two great country parks on the doorstep (Hainault Forest Country Park and Fairlop Waters Country Park) which have lovely green open space and lakes, and offer activities for all ages.

The apartments themselves are spacious, with a high speci cation as standard. The stylish kitchens come with integrated appliances and the bathrooms and en suites (where applicable) are luxurious, with mirrored wall units to the main bathrooms. There is Amtico ooring in the kitchen, living areas and wet room, and carpet in the bedrooms. Dependent on the build stage, buyers can choose the colours. Every apartment has a terrace or balcony with plenty of space for an outside table and chairs, plus many of the apartments on the higher oors will have a full panoramic view of the London skyline. There is a landscaped podium garden in the middle of the development, which will feature play equipment for children.

Directly opposite the development is a parade of shops, with a Tesco Express, bakery, and post of ce. For young families, there is a day nursery next door to the development and a primary school nearby.

First time buyers could get up to £1,100 per month towards their mortgage and Stamp Duty and legal fees paid (terms and conditions apply).

edge-hainault.co.uk

• Footballer Jimmy Greaves MBE

Singer Jonathan Antoine

Rapper and musician Cleo.

Author Stephen Knight

Trade union leader Bob Crow

Neighbouring Chigwell

RENT FOR LESS AND SAVE FOR A DEPOSIT; LONDON LIVING RENT WITH L&Q

renters looking to get on to the property ladder in the capital,

Rent

WHAT IS LONDON LIVING RENT (LLR)?

Funded by the Mayor of London, London Living Rent is a Government-backed scheme which enables tenants to rent a home at a discounted rate – sometimes up to as much as 50% less than a similar property on the open market. It acts as a stepping stone to homeownership, as the extra saving made each month on rent can be put towards a deposit for your first home.

The main benefit to renting an LLR home is that it is possible to purchase the home that you already live in – so no need to spend extra time and money moving again! All properties on the LLR scheme guarantee tenants an assured tenancy of a minimum of three years and a maximum of 10, providing stability amid London’s everturbulent rental market. London’s largest landlord, L&Q, has a wide range of homes available across the capital.

WHY RENT WITH L&Q?

With nearly 60 years’ experience in the rental market, L&Q is the capital’s largest landlord and provider of affordable homes, making

it an expert at understanding what’s important when it comes to renting a property. Offering a broad range of London Living Rent homes across boroughs including Walthamstow, Wandsworth, Newham, Croydon and Barking & Dagenham, L&Q has also streamlined the lettings process to ensure a responsive and smooth service without agency fees.

Since first launching its LLR services in 2018, L&Q has established an extensive property portfolio, taking a great deal of pride in the status of its developments. It has cultivated a fantastic, highly trained Lettings team over the years by bringing onboard some of the industry’s most qualified, experienced candidates and developing them in-house, so they’re able to meet L&Q’s exacting standards of

customer service. The London Living Rent team also includes dedicated in-house maintenance specialists to ensure tenants enjoy peace of mind for as long as they make one of L&Q’s apartments their home.

SCHEME SPOTLIGHT

London Living Rent in London’s 2023 Borough of Culture

L&Q’s new one, two and three bedroom London Living Rent homes in L&Q at Queen’s Quarter are located in the beating heart of Croydon, a short walk from a wealth of leisure and retail facilities.

Built for every kind of lifestyle, the homes bring modern, flexible living spaces to a thriving destination. Internally, each apartment

For

London Living

(LLR) could be the perfect first step – helping you save more money each month to put towards your first home deposit

L&Q at Beam Park

EXPERT COMMENT

Since first launching our London Living Rent service in 2018, we’ve helped hundreds of hopeful homeowners take a step closer to actualising their dream through this fantastic, discounted rental scheme.

Saving for a deposit is incredibly difficult for many households in the capital, which has been exacerbated even further recently with rising energy costs, so we’re pleased to be delivering such an innovative scheme for tenants to access homes in some of London’s most sought-after neighbourhoods.

has been designed to a fully inclusive specification with integrated appliances, as well as sought-after outdoor space in the form of a private balcony.

A green oasis in the city, L&Q’s LLR apartments overlook the adjacent Queen’s Gardens, a popular local park which features manicured lawns, leafy mature trees, bright flower beds and new play areas. The development is located just moments from East Croydon station, which enjoys a regular service into London Victoria and London Bridge, as well as connecting to the London Overground, which travels through New Cross and up into east London.

Prices start from just over £1,190 per month for a one bedroom home.

Just launched in east London’s newest neighbourhood

Located across the boroughs of Barking & Dagenham and Havering, L&Q is delivering a collection of one and two bedroom LLR apartments to L&Q at Beam Park, a pioneering residential neighbourhood in east London.

Beam Park is transforming a 71-acre site with 3,000 new

Having spent years renting in the capital, homeownership was simply unattainable for Beth and her boyfriend. “We wanted to buy a property in London, but we weren’t earning enough as a couple”, she recalls.

Coming across L&Q’s LLR apartments at The Sugar Works in east London’s Royal Docks, she discovered the scheme which would enable her to save while renting.

“When I was in my last property, I couldn’t afford to save anything. We used to pay £1,400 per month. We now pay £900 on the London Living Rent scheme and save £500 towards our deposit,” she explains. “The fact you get the opportunity to buy the place you’re already in, the place you’re renting, that’s got all your stuff there and that you know really well − that’s a really exciting opportunity.”

After completing a straightforward online application, L&Q responded within 24 hours with the news that she’d been accepted on to the scheme. Beth recalls, “I think within a month I went from applying to moving in. I only saw the property for the first time when I moved in − beforehand I just saw a show home! It worked out really well.”

With the development just a one-minute walk from Pontoon Dock DLR station in Zone 3, Beth’s commute has also improved significantly. “I can get to Bank in under 25 minutes, while Canning Town is about 10 minutes’ walk away. It’s really special being close to the Thames, it’s a luxury to have in London.”

Looking ahead to the future, Beth comments, “My aim is to save enough to buy a 25% stake after three years. In a way, I can’t imagine myself living somewhere else now, because I just don’t think I’m going to find anywhere as nice as this flat. It’s such a good scheme.”

L&Q at The Sugar Works offers a selection of spacious one to four bedroom homes, with the LLR prices starting from £990 per month for a studio apartment.

homes and substantial public infrastructure, and residents living in L&Q at Beam Park homes will enjoy a new public square, a medical centre, two schools, retail spaces, a gym, community facilities, and a multi-faith space.

Also included in the masterplan is an array of idyllic green landscapes, including a major 2.5-hectare park, with outdoor exercise equipment

and cycle and walking paths. Homes in L&Q at Beam Park have been designed to support residents to lower their ecofootprints and reduce their energy bills. Each home is fitted with a highly efficient water system that prevents water loss, while greater levels of insulation are achieved through double glazing and doors that meet high insulation standards.

Most apartment blocks

are fitted with solar PV panels, while brown roofs will be positioned across the development, creating an environment for local ecology to thrive.

Prices for a one bedroom home start from £865 per month

Ready to find your London Living Rent home with L&Q? Head to our website to discover more: lqhomes.com/London-Living-Rent

Andrea Palmer, Head of LLR, L&Q

CASE STUDY

L&Q at Queen's Quarter

THREE (UN)HIDDEN GEMS ACROSS LONDON YOU NEED TO KNOW

One of the hardest parts about starting to look for a home is deciding on where to live. While some first time buyers might be set on a given location, some treat London as their oyster and might not know where to start. That’s why we’re showcasing three of Peabody’s favourite hidden (or rather, unhidden) London gems and areas that could help buyers uncover their ideal home

BATTERSEA: BE PART OF A BRIGHT FUTURE

part of it all at New Mansion Square – just moments away from the “Insta-friendly” Power Station and complete with residents’ amenities and convenient concierge services. Launching its new sales suite in spring 2023, New Mansion Square homes are a must-see for first time buyers.

ROYAL DOCKS: WELCOME TO WATERSIDE LIVING IN THE DOCKLANDS

Exciting new shopping experience – check. Food options galore – check. Entertainment on your doorstep – check. Convenient connections by foot, rail and boat – check. What more could a first time buyer looking for a vibrant place to live ask for? Battersea has always been a top choice for buyers to call home, and with the latest regeneration of the iconic Battersea Power Station, the area is once again generating a buzz. Fitness fanatics will be spoilt for choice. From rock climbing to spin classes, or even exercising in expansive spaces at Battersea Park; there is something for everyone in this area to enjoy. And first time buyers can be a

The Docklands may not make the list for many first time buyers as a dream destination to live in – but here’s why it should. Whether you are looking for stunning sunset views over a meal at one of the waterside restaurants and bars, or interested in exploring new water-based hobbies such as paddleboarding, this hidden gem could be just what you are looking for. Forming part of the exciting reimagination of the area, Pontoon Reach is London living as it should be.

For those embracing hybrid working, fast connections on the DLR from Pontoon Dock reach Canary Wharf in just 15 minutes, while spacious living areas can easily be transformed to accommodate working from home spaces. Finding a moment of Zen should be easy in the private landscaped courtyard garden or on the resident-only roof terrace.

LEWISHAM: LONDON VILLAGE LIVING

South east London’s authentic haven, Lewisham, should not be overlooked – it is London village living at its best. With locals seen browsing the bustling historic markets, foodies scouring the pop-up festivals or meeting with friends in one of the local breweries in Deptford, it is easy to see why there is a lot to love about Lewisham and its unapologetic vibrancy. In addition, the area offers convenient connections to key social and commuter hubs in minutes, including London Bridge.

First time buyers can find their gem in this energetic destination at Arden – a collection of shared ownership apartments launching in spring 2023. From co-working space for when you need to focus, to a comfy snug room ideal for relaxing with friends, and the extensive fitness suite for residents, Arden has it all.

Or perhaps Frankham Walk could be just what you’re looking for? A development that lovingly combines stunning Victorian architecture with contemporary new additions to create truly unique homes, Frankham Walk is just moments from Deptford High Street with its wide selection of bars, eateries and cafes – making this a corner of town waiting to be explored.

Discover more hidden gems with Peabody at peabodysales.co.uk

*CGI for guidance purposes only

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Photo © Charlie Round Turner

DISCOUNT MARKET SALE SAVED ONE COUPLE £100,000 ON THEIR FIRST HOME

The homebuying market can feel dispiriting for many first time buyers. The search for a property within budget is challenging and the prospect of a lifetime of renting can be a depressing reality. This was how the future appeared to be shaping up for Alessandro Sottilaro, his wife Hiyori and their young family, who couldn’t have bought a new home without the help of Weston Homes and Discount Market Sale

Italian Alessandro met Japanese Hiyori at language school in London. They continued their relationship long distance from Rome and Tokyo, until they married in Japan and eventually decided to settle where they met, in London. “We wanted children and we both worked but we could not think about buying,” says Alessandro. “Prices were crazy. It all seemed hopeless. So, we rented. Then our landlord’s son wanted to move back into the flat.” The couple were forced to think hard about their next move. Financially, they were not in a great position.

Thinking that buying a new build could be a smart financial move in the long run due to the cost and maintenance involved with older homes, they began looking at new developments with good transport links to central London.

Alessandro continued, “My office was in Barking. I am based there – so I started looking in the area. I liked the apartments

at Abbey Quay by Weston Homes but we could not afford one. Then I found a scheme run with Weston Homes and the local council, called Discount Market Sale. I thought, ‘Wow!’ It offered a 20% discount. With this we could afford one of the flats.

“We needed three bedrooms and by saving £100,000 by using the discount, we could afford it. We went directly to the showroom, met the sales consultant and within five minutes we wanted one of the homes. We bought immediately. We love the flat and my wife is just incredibly happy. It is absolutely fantastic. It will be ready in spring 2023.”

Discount Market Sale is currently available on selected Weston Homes’ properties at The Venue, Hayes; 1023 West, Brentwood; and Abbey Quay, Barking. Eligibility criteria apply and there may be additional restrictions around your earnings and locality to the area but it varies – the sales team can advise to see if you qualify.

Eligible buyers can purchase the property with a discount of 20% off the purchase price and when you come to sell, the saving remains in place for the lifetime of the property so that future purchasers can benefit from it too. You can get a normal mortgage and need between a 5% and 10% deposit depending on your choice of lender. You still benefit from house price increases and as you pay down your mortgage your equity stake will increase as normal.

Alessandro, Hiyori and their children have a new home that gives them the kind of future they had begun to think would elude them forever. Alessandro said, “It is a huge step forward and is incredible to know that it is ours. It is such a big achievement.”

Weston Homes is an award-winning developer building new and converted one to four bedroom luxurious homes across London and the South East from £199,000. Every home is finished to an exceptional standard, with sustainable technology throughout and the smallest details carefully considered to provide buyers with the very best in modern living. In Weston Homes you can find a developer you can trust and a home you will love.

For more information contact Weston Homes on 01279 873 300, or visit weston-homes.com for development-specific information. Marketing suites and show homes are open daily from 10am to 5pm

TIME TO TAKE YOUR SHARE!

We may be living in troubled times, but there’s no need to give up on your homeownership dreams, says Kevin

Marketing at SO

Resi

First time buyers are not having an easy ride at the moment. Interest rates are climbing fast, inflation and the cost-ofliving crisis are taking a toll, and the cost of renting has risen by the fastest rate ever – up 17.8% in the past year in London and 12.3% in the rest of the UK according to the Hometrack UK Rental Market Report.

The Help to Buy: Equity Loan scheme, which helped so many first time buyers on to the housing ladder, closed for good at the end of last year, and many savers are discovering that house prices have risen so much that modest homes are now beyond the reach of the Help to Buy ISA and, in London, even the Lifetime ISA. One scheme, however, is still available and thriving – shared ownership.

The greatest benefit of shared ownership, a Government-backed scheme that has been running for over four decades, is that it offers qualifying buyers a chance to make a move right now, with only a fraction of the deposit requirements of buying on the private market. So, rather than sitting around glued to the financial reports and wondering which way house prices and interest rates are going to go next, first time buyers can buy a portion of a home now, and pay a controlled rent on the rest. In time, if they wish, they can buy more of the home until eventually they own it outright.

There’s a perception that shared ownership is only available on city apartments, but there’s a wide range of homes available, from one bedroom apartments to family houses, around the country. Our SO Resi shared ownership brand has launched new developments at Bracknell, Farnham and Welwyn Garden City – commuter hotspots where buyers can enjoy a great quality of life while still being in easy reach of London.

SO Resi Welwyn Garden City, Hertfordshire, is a development of one, two and three bedroom apartments on the site of the former Shredded Wheat factory, which attracts buyers for both the surrounding green spaces and the 29-minute rail journey into central London. You can buy a 25% share of a one bedroom apartment here with just a £3,500

Sims, Director of Sales and

deposit, and a combined monthly mortgage and rental cost of just under £1,000 – less than most similar rental properties in the area. The development has proven popular with buyers, with SO Resi receiving almost 1,000 enquiries in the first three weeks since its launch.

SO Resi Bracknell, in Berkshire, has also proved popular, with all the apartments in phase one being reserved on the launch weekend. Bracknell, a regeneration area which is seeing investment of almost a billion pounds into its local economy, including schools, shops and leisure facilities, has been tipped by the Evening Standard as an “ultra-resilient property hotspot”. The one and two bedroom apartments are within a short walking distance of Bracknell railway station, which has services to Reading in 15 minutes and London Waterloo in an hour. Prices start from £73,500 for a 30% share of a one bedroom apartment with a full market value of £245,000, requiring just a £3,675 deposit.

SO Resi Farnham, in Surrey, is an exciting new collection of one and two bedroom apartments, each with an allocated parking spot, within walking distance of the town centre. Farnham station, with services to London Waterloo in an hour, is also a few minutes’ walk away. Brightwells Yard, a shopping centre with a six-screen cinema, is right on the doorstep and there are good schools and attractive open spaces close at hand. Prices start from £67,500 for a 25% share of a one bedroom apartment with a full market value of £270,000 and a deposit of just £3,375.

Shared ownership is not another here-today-gone-tomorrow incentive, it’s a tried and tested way to help buyers with an income of less than £80,000 (£90,000 in London) find a place of their own – so what are you waiting for?

To nd out more about shared ownership or the new homes with SO Resi, visit sharedownership.co.uk

SO Resi Farnham

SO Resi Bracknell

SO Resi Welwyn Garden City

SHARED OWNERSHIP AND AFFORDABLE HYBRID LIVING

With the arrival of the pandemic came a fundamental change to the way we work. Previously reserved for the lucky few, national lockdowns meant that remote working soon became the norm. Driven by new ways of working, the “race for space” saw many moving out of cities and trading easy commutes for extra space and greenery. But now, three years on, there’s been another shift, this time to hybrid working – a mix of working from home and office. And with it comes a new kind of housing need; affordable hybrid living for the part-time commuter – or, put simply, a home that offers the best of both worlds

So, what exactly does this home look like and where is it? As you might expect, it’s a fine balancing act between location and the home itself. Commuting just a couple of days per week or month, the hybrid worker is happy with a slightly longer commute into the city; although being well connected to public transport remains a priority.

Even though it’s a little further out, the location still needs the charm of a vibrant community with amenities, shopping, and restaurants nearby. In terms of the home itself, the space must meet the demands of hybrid working. Room to work from home is non-negotiable, but just like new working patterns, there’s flexibility around what this looks like. Whereas the fully remote worker might require a full-time dedicated office, the hybrid worker can easily set up shop in a spare bedroom.

Given that these homes need to deliver on both fronts (space and location), you might assume that they’d come with a hefty price tag. With Abri Homes and shared ownership, this needn’t be the case. Take for example, a new two bedroom home in Ashbury Park*, in the village of Hawley. Located perfectly for both work and leisure, day-to-day essentials are within walking distance and the towns of Farnborough and Camberley just a short drive away. Perhaps most importantly for the hybrid worker, the train from nearby Farnborough is direct to London with journey times from just 36 minutes. Through shared ownership, a 40% share of a two bedroom apartment can be purchased for just £124,000 instead of the full market price of £310,000.

Slightly further south, part-time commuters looking for a little more space can find everything they need with a new home at The Meadows – a collection of two and three bedroom homes nestled in the village of Tongham. Again, with direct trains to London from nearby Aldershot and Farnham, buyers can delight in the best of both worlds. And keeping true to the village feel, a small shopping parade

and a selection of quaint pubs are just a short distance away. A 30% share of a three bedroom semi-detached home can be purchased for just £135,000, instead of the full market price of £450,000. As with any home purchased through shared ownership, buyers will only need a mortgage for their share of the property, while an affordable rent will be paid on the rest. Deposits start from 5% of the share being purchased.

So, whether you’re preparing for more

regular trips to the office or if you’re simply looking for a home that has the perfect balance of spacious living with easy access to a vibrant city, rest assured that Abri Homes can offer an affordable solution.

To find out more about our wide range of homes across the South and South West of England visit abrihomes.co.uk

*A local connection may be required for these homes.

Ashbury Park, Hawley

The Meadows, Tongham

A WATERSIDE HAVEN: LEASIDE LOCK

Positioned next to the serene River Lea, homes at Leaside Lock offer a unique opportunity to live close to the waterfront in the heart of central London. Providing tranquil riverside living, residents can enjoy sunrise strolls along the river, over bridges and under willow trees, as colourful narrowboats drift across the water

Leaside Lock is a new waterside development situated in the heart of east London, Bromley-by-Bow. A major placemaking project from Guinness Homes, Leaside Lock will ultimately deliver 965 studios, one, two and three bedroom homes – with a mix of shared ownership and outright sale homes available.

Not only will residents get to enjoy spectacular scenery around the neighbouring river, but they can also benefit from potential mental and physical health improvements as well. There are several well-documented benefits to living near water, including decreased stress levels and enhanced levels of happiness and wellbeing in day-to-day life. The development’s unique riverside location is also the ideal place for buyers to reconnect with nature, offering a moment of calm in the buzz of the city. Only a short walk away from Leaside Lock is a network of footpaths and cycle paths, as well as Limehouse Cut, the oldest canal in the capital, which offers a range

of outdoor physical activities, including kayaking, cycling and wildlife spotting.

Recent buyer, Anna, discusses how impressed she is with Leaside Lock’s waterside location, “It was very important to me to live near water. I like to go on walks and runs, and it’s much nicer to follow a river or canal path. It was something I really got used to in Richmond, so that was a big thing for me when looking at Leaside Lock – it’s right on the River Lea.”

Leaside Lock is perfectly positioned to explore and make the most of living in east London. There is never a dull moment, with Stratford and the Olympic Park just a short walk away, and the world-famous London Aquatics Centre and Westfield Stratford City nearby.

Community is at the heart of the development’s design, encouraging residents to meet their neighbours and fully immerse themselves in the new neighbourhood. The broad range of on-site amenities, including plans for a health and

fitness studio, a cafe, co-working space, and convenience store, will also help to foster a friendly and welcoming community feel.

Every home at Leaside Lock offers a contemporary design with stylish modern features. High-specification kitchens are fitted with fully integrated Bosch appliances, while private balconies offer beautiful views across London.

The development also prioritises sustainability, with photovoltaic panels providing affordable and sustainable energy, and a combined heat and power system helping to keep monthly energy bills down for residents.

Ideal for commuters or those simply wanting to explore London, Leaside Lock is just a three-minute walk from Bromleyby-Bow underground station situated in London’s Zone 2, which connects to central London and out towards Stratford on the District Line and Hammersmith and City Line. Devons Road DLR station is also just a few minutes’ walk from the development, with connections to Canary Wharf in around seven minutes.

Shared ownership prices start from £87,500 for a 25% share of a one bedroom apartment (full market value £350,000).

leasidelock.com

Shared ownership terms and conditions apply

Recent buyer, Anna

ICONIC WEMBLEY: NEXUS

Octavia has partnered with Barratt Homes to offer 33 high-specification shared ownership homes in a new 23-storey tower, Nexus. With a selection of one and two bedroom apartments, and one exclusive three bedroom, you can get a foot on to the property ladder in one of London’s most vibrant and diverse locations

This captivating building offers spectacular panoramic views of London and the surrounding areas, and residents will have access to five ingeniously designed podium gardens which serve as ideal relaxation zones. The gardens also improve the neighbourhood’s carbon footprint and harmonise the building’s exterior with its surroundings.

Being in such an iconic part of town also means a selection of top notch amenities on your doorstep. Wembley Park is home to amazing shopping, endless entertainment, cutting edge culture and great community vibes. The London Designer Shopping Outlet is a great place to shop for both popular brands and luxury goods. There is also an excellent selection of delicious eateries and coffee bars in the area, mainly focused in BOXPARK Wembley – a dedicated space for fun activities and good food.

The interiors attractively combine modern furnishings with spacious openplan layouts – large format windows allow for plenty of light, while wool mix carpeted bedrooms and luxury vinyl flooring to living areas are designed with style and comfort in mind. The sleek, handleless soft grey kitchens are tailored to the size of each apartment and come fully equipped with Zanussi appliances, integrated oven, fridgefreezer and dishwasher.

famous arch. Wembley stadium is unique. It’s the place where legends are made and everyone has a favourite memory – whether it’s being there for the football, listening to their favourite band or simply watching the big match on TV.

Yet the stadium isn’t the only famous neighbour, Wembley Arena is one of the country’s best loved venues for live music, comedy, entertainment and sport, all within walking distance of your front door. Living at Nexus, the world’s biggest names in show business come to you.

Located on North End Road, Wembley Park underground

station

(Metropolitan and Jubilee Lines) is a five-minute walk from the development’s doorstep and trains run swiftly from here into both the City and the West End. Journeys to Bond Street take just 16 minutes. A mainline service runs from Wembley Stadium station to Bicester Shopping Village and the Bakerloo Line runs from Wembley Central in the high street to central London.

In spite of its Zone 4 location, Nexus is a mere 12-minute tube journey from central London, a statistic that makes it an exciting proposition for young professionals and families. The property landscape in this corner of north west London, which borders the Wembley Stadium complex, has undergone a massive upgrade in recent times.

Prices at Nexus start from £95,000 for a 25% share of the full market value of £380,000 for a one bedroom shared ownership apartment. Two bedroom apartments start from £126,250 for a 25% share based on the full market value of £505,000.

For more information about Nexus, or to book a private appointment, please call 020 8354 5500 or visit octavialiving.org.uk

The contemporary tiled bathrooms feature chrome towel radiators and semi-recessed shelving for added storage. Each apartment benefits from having its own private balcony so there is always somewhere to get a breath of fresh air. All two and three bedroom apartments also benefit from an en suite bathroom with shower enclosure. Throughout each home, lighting is a blend of energy saving LED downlights and pendant lights. Access to the apartments is by a video entry system, while there is also plenty of on-site secure cycle storage.

on-site secure cycle storage.

Wembley Way is just a short walk, taking you directly to two of London’s most famous venues, Wembley Stadium and Wembley Arena. Match day or not, there’s always a buzz about living in this part of town. Glance up and you’ll see the bold sweep of the

SHARED OWNERSHIP MYTH BUSTING WITH LEGAL & GENERAL AFFORDABLE HOMES

Saving up for a deposit can feel like a huge task, especially when you already have monthly bills to pay. But with shared ownership, deposits are massively reduced, meaning you could get on the property ladder with a deposit as low as £5,000! Now that’s something to shout about.

On top of it all, buying a new and affordable home can be a confusing and stressful time, especially if you’re a first time buyer trying to decide what kind of property is best for you.

That’s why we’re going to break down the most common shared ownership myths and help you decide if shared ownership is right for you. Hint: we think it will be!

What actually is shared ownership?

With shared ownership, you buy a percentage of a property, then pay a subsidised rent on the remaining portion. The key advantage of shared ownership is that you generally pay less each month than you would privately renting or paying a traditional mortgage.

Shared ownership is often referred to as the industry’s best kept secret. It can take the stress out of buying a home as you will need a much lower deposit than buying outright. We’re talking, on average, under £10,000 – even in London.

What does Legal & General Affordable Homes offer?

At Legal & General Affordable Homes, we offer an array of top quality, contemporary properties across England. From studio apartments in London to large, detached

houses in the countryside, we aim to provide something for everyone. We’re committed to delivering first-class customer service, from the moment you arrive to when you open the door of your new home.

Do I have to be a first time buyer?

Shared ownership purchasers are often first time buyers, but it is not only for first time buyers. If you own another property – either in the UK or abroad – you must be in the process of selling it to be eligible for shared ownership.

Can I decorate my shared ownership home the way I wish?

Yes, shared ownership homes are a blank canvas, waiting for you to add your own style. You don’t need our permission for decorating or simple repairs, however you would need to get permission for larger works to ensure it does not affect the structure of the building.

Do I have to live with anyone else?

No, unless you choose to of course! But you don’t have flatmates with shared ownership and the home is all yours, just like it would be buying on the private market.

Do I need a good credit score?

Yes. You must have a good credit history; the better it is, the more likely you’ll be able to get on the property ladder with shared ownership. Your credit history is determined by a number of criteria, including not having been declared bankrupt in the last six years and not being in arrears with any tenancy payments or mortgage repayments.

Anything else I need to know?

In order to be eligible for a shared ownership property, your annual income must not exceed £80,000 (or £90,000 if you live in London). If you plan to buy a shared ownership property with someone else, your combined income must not exceed the relevant maximum amount.

You will also need the deposit amount, usually between 5-10% of the equity share you are purchasing.

Want to find out more? Head to our website landgah.com to find your perfect shared ownership home and get on the property ladder sooner than you thought possible!

Are you sick of privately renting, the rise in the cost of living and the uncertainty of when you might get on the property ladder? We know what you’re thinking, “How am I ever supposed to save up a deposit to buy a new home with the everincreasing bills and rent?!”

MAKE A HOME IN A VIBRANT WATERSIDE COMMUNITY AT INDIGO HOUSE WITH NOTTING HILL GENESIS

Buying your first property in London can be a challenge. With the need to balance quality, affordability, and location, it may be tricky to find a home that ticks all of your boxes

Launching this spring 2023, buyers at Indigo House at Royal Albert Wharf have the chance to join a dynamic and growing community which is rapidly redefining the east end of the Royal Docks.

With 65 homes available through shared ownership – including a choice of one and two bedroom apartments and three bedroom townhouses – there’s a home for every first time buyer at this exciting new waterside development.

Homes are priced competitively, with guide prices for a one bedroom apartment starting from £81,250 for a 25% share, and these can be secured with a deposit as low as four figures. And with the development’s wide-ranging specification and access to amenities, residents won’t have to compromise on quality or location.

DESIGNED FOR FIRST TIME BUYERS

At Indigo House, homes are intelligently designed for the modern buyer, with spacious private balconies and open-plan interiors to make one’s own. The homes feature highquality, sleek kitchens with Bosch integrated appliances, and energy-efficient underfloor heating throughout, reducing costly bills and adding a sense of luxury.

Along with the convenience of a dedicated concierge, residents can enjoy getting to know the neighbours in the development’s landscaped communal garden, set within greenery and featuring a children’s play area. And with three bedroom townhouse styles available –and a future nursery planned for the neighbourhood – Indigo House is perfect for young families putting down roots.

AN EMERGING CULTURAL HUB

It’s not just families making Royal Albert Wharf home – artists, entrepreneurs and young professionals are all joining this

buzzing community, with Indigo House its newest phase.

One of London’s emerging cultural hubs, the area boasts a vibrant arts community, with affordable spaces available to makers from all creative industries. Glass-fronted studios line the docks, and residents benefit from a range of resources from on-site creative learning provider Bow Arts – such as art workshops, yoga classes, film screenings and exhibitions. Other amenities to enjoy include Café Spice Namasté by award-winning celebrity chef Cyrus Todiwala, as well as plant-based cafe the Well Bean Co.

A WELL-CONNECTED NEIGHBOURHOOD

As London’s only Enterprise Zone, the Royal Docks is emerging as an important commercial and cultural player, home to City Hall, the ExCel London and the University of East London’s newest campus.

Buyers at Indigo House will join the next tranche of pioneering residents as this area continues to grow. The development is already attracting many young professionals in their 30s, renting locally and working in Canary Wharf or the City. Commuters benefit from easy access to fast transport links. Gallions Reach station is a short walk away, and with the arrival of the Elizabeth Line at Custom House station, just 10 minutes via the DLR, residents will be able to reach Liverpool Street in 10 minutes. Other ways to get around include cycleways and footpaths along the River Thames, and for travel further afield, London City airport is 26 minutes away by DLR.

Philip Wellard-Hughes, Head of Sales at Notting Hill Genesis, said, “We’re thrilled to be expanding the fantastic neighbourhood we’ve created at Royal Albert Wharf. Indigo House has been designed with first time buyers in mind, with homes catering to all needs. With plenty of amenities on-site, and more to come, this community is perfect for pioneering buyers looking to find a first home in London.”

For more information, contact the Notting Hill Genesis sales team on 020 3733 3571 or visit nhgsales.com

CAT AND TARRYN FIND THEIR IDEAL SHARED OWNERSHIP HOME AT WHITELEY MEADOWS

After years of saving, a young couple have been able to purchase their first home from shared ownership provider St Arthur Homes

Cathryn Samuels, 31, and Tarryn Williams, 27, moved into their new three bedroom home in early October 2022, along with their four-year-old rescue dog from Romania, Percy. The couple are now enjoying life at Whiteley Meadows, a development off Botley Road in Whiteley.

Cat, an emergency helpline operator, and Tarryn, a geography and religious education teacher, moved in with Tarryn’s mother just after lockdown, so that they could afford to save up and buy their first home together.

Cat said, “It’s just so nice to have our own space. Even a couple of months after moving in, we still can’t quite believe this house is ours!

“We were particularly looking for a house with a garden near Fareham, so that our dog Percy has somewhere to run

around and play. Even though both of us have good jobs, with the current economic climate we knew we’d be looking for a shared ownership property. Without using a scheme like that, we wouldn’t have had a hope of buying our own home for several more years.

“That brought us to St Arthur Homes, which is selling shared ownership properties at Whiteley Meadows, just a few miles away from Fareham. The location was perfect for us and the service was spot on, so we knew we wanted to go for a home here.

“Our sales adviser Trin was incredible. No question was too big or small, she guided us through the whole process brilliantly. In fact, everyone we spoke to at St Arthur was lovely. We really wouldn’t hesitate to recommend them to anyone at all.”

When complete, Whiteley Meadows

will also include two primary schools, a secondary school and two nurseries, providing an ideal location for families. Handy shops, cute cafes and leading restaurants are also located nearby at Whiteley Shopping, along with a cinema and leisure facilities.

Cat said, “This really is the perfect location for us. We can take Percy on walks through the pretty countryside nearby, but then just a four-minute drive away is Whiteley Shopping, which has everything we need. We’d recommend Whiteley Meadows and St Arthur Homes to absolutely anyone – we’ve been blown away by the service and we love our new home.”

For more information on the new homes provided by St Arthur Homes, visit starthurhomes.com

REVIVE AND REINVENT RATHER THAN REBUILD!

Refurbished homes from Annington are a great middle ground between buying a brand new property and a secondhand home on the open market. While new homes offer unused kitchens and bathrooms, they command a price premium, and there can be delays in completions. On the other hand, buying secondhand on the open market usually means being part of a chain, and who knows what problems you might discover on moving day?

With Annington, whether you are moving into a maisonette or a four bedroom family home, you will find everything in immaculate order when you take the keys. Depending on the development, your new home might have been given a good spring clean, fresh paint and new flooring, or it may have been completely refitted with new kitchens and bathrooms, modern insulation and rendering, and even a new front door. Either way, it will be ready to move into with the minimum of fuss and stress.

Stacy Whitehead, Marketing Manager at Annington, said, “We specialise in bringing former Ministry of Defence homes back into use, growing local communities and providing much-needed homes around the country. Refitting and refurbishing existing homes is an eco-friendly and sustainable way of dealing with the housing crisis – it keeps the embodied energy of the original building, strengthens the community of existing neighbourhoods, and helps reduce the urban sprawl and negative environmental impacts of massive new build estates. In our opinion, it is better to revive and reinvent rather than rebuild!”

Refurbished properties have a lot to offer – many of Annington’s homes have high ceilings, spacious rooms, traditional

layouts with separate kitchens and large gardens. They also offer great value for money in comparison with a similarly sized brand new home.

Furthermore, Annington is helping to bring its properties up to sustainable modern standards, having installed solar panels and electric vehicle charging points at selected homes at its Lamborough Fields development in Abingdon, where all homes are rated EPC B or C, while smart thermostats have been put in place at Sovereign Gate in Brompton.

Annington is there to help you at every step of the way, with an in-depth knowledge of local markets and attention to detail. In particular, it thanks those who serve in the Armed Forces with its Service Discount, which offers a £500 contribution from Annington for every £25,000 of the cost of the home, up to a maximum of £5,000 for serving personnel.

In addition, many buyers benefit from the Annington Seal of Approval 28-day guarantee, making sure that buyers are happy in their new homes.

Annington has a variety of homes for sale now or coming soon that are ideal for first time buyers: Sovereign Gate at Brompton, near Gillingham in Kent, offers two and three

bedroom houses and maisonettes with a contemporary design. The extensive refurbishment works at this development include newly fitted kitchens and modern bathrooms, as well as white external rendering, new roofs and new windows and doors. Close to the historic dockyard, shopping centres and leisure facilities, homes here start from just £220,000.

Lamborough Fields, at Abingdon in Oxfordshire, is ideally located for commuters to Oxford and Reading. The properties have been lightly refurbished with freshly painted walls and new carpets, with solar panels and EVCPs to selected properties. Two and three bedroom homes are available, starting from £272,500.

The Crescent in Windsor will be launching soon, offering a number of extensively refurbished two and three bedroom properties. Each home will include new doors and windows, alongside new external cladding and rendering to selected plots. Annington is also installing new radiators and energy-efficient boilers, plus additional insulation to existing roofs.

Contact Hamptons on 01753 925 071 or email thecrescent@hamptons.co.uk to register interest.

To find out more about Annington’s refurbished homes visit annington.co.uk

Buying a refurbished home from Annington offers first time buyers a sustainable, budget-friendly and stress-free way to get on the housing ladder

The Crescent, Windsor

Lamborough Fields, Abingdon

THOUGHTFULLY DESIGNED HOMES FOR CONTEMPORARY LIVING

We believe our homes should be attainable for everyone, which is why we offer various property and tenure types along with a range of buying options. We listen to our customers too – and give them what they ask for: bright, spacious homes with flexible living areas located in well-connected communities, with all the services and facilities you need right on your doorstep.

With Places for People, you can have the thoughtfully designed home you have always wanted…

NEW HOMES FOR MILTON KEYNES

Our award-winning Brooklands development in Milton Keynes – combining the best of city living with attractive woodlands and green space – will soon be launching its final phase of brand new affordable homes.

Available to reserve from July, Laconia Place is the latest and last addition to this stunning community, which benefits from shops, amenities and a public square, together with acres of outdoor space and parks. Close proximity to schools, as well as road and rail connections, only adds to Brooklands’ appeal as a sustainable and well-located new neighbourhood in which to live, work and play.

The brand new homes comprise a mix of one to three bedroom houses and apartments, which you can buy via shared ownership. Built to a high specification, they offer generous rooms and living space with large windows bringing in an abundance of natural light, stylish kitchens and bathrooms, plenty of storage, parking and that all-important private outdoor space.

COMING SOON…

MORE NORFOLK HOMES

If you’re keen to embrace modern country living, our Carvers Meadow development in Norfolk has it all. Located on the edge of the market town of Attleborough, you are within easy reach of excellent schools and amenities such as shops, restaurants and cafes, while being surrounded by Norfolk’s beautiful, unspoiled rural landscape.

Unsurprisingly, the first phase of this desirable new community is already fully reserved, but we’re delighted to announce that more homes will be available to reserve from early summer.

Thoughtfully designed, with generous living space to live life your way, these lovely two, three and four bedroom homes have been finished to an exceptionally high standard, with well-equipped kitchens, contemporary bathrooms and lots of storage throughout.

From the downstairs living area, French doors

Contemporary living doesn’t get much better than Abbeville Park, a superb new development of shared ownership homes in Burgess Hill, West Sussex.

These stylish homes benefit from a spacious, open-plan design that adapts perfectly to relaxing, entertaining or working, along with private gardens and parking areas.

Keep an eye out for our brand new show home and next phase of homes launching soon.

open out on to a private outdoor space –perfect for relaxing or entertaining.

Again, all the homes are available to buy through shared ownership.

A HELPING HAND INTO YOUR DREAM HOME WITH SHARED OWNERSHIP*

Shared ownership is a very simple and costeffective way of owning your home. With the scheme, you only need to pay part of the price of your home (between 10% and 75%) and pay rent on the rest. Your mortgage will be smaller, and you won’t need to save as much for a deposit.

With many of our homes available to buy through shared ownership, stepping on to the property ladder is now a very real – and achievable – prospect, and at Places for People, we’re here to support you every step of the way.

DISCOVER MORE

Register your interest for our brand new homes today and find out if you qualify for shared ownership.

Visit placesforpeople.co.uk/find-a-home

*T&Cs apply – please see our website for details.

Places for People has more than 50 years’ experience of managing and developing homes, so we know what it takes to build happy, healthy and inclusive places to live

Brooklands, Milton Keynes

LIVE YOUR BEST LIFE WITH SNUGG HOMES

mortgage to buy 100% of a home. You can buy a share of your home (usually between 25% and 75% of the home’s value) and pay rent on the remaining share. This way you can get on the property ladder sooner and have the opportunity to buy more of your home at your pace, through staircasing – as more shares equals less rent.

The shared ownership scheme is open to anyone aged 18 or over as long as the household earns less than £80,000. To be eligible, you must simply meet the specified criteria and not own another home (or have an agreed sale on your home).

Nestled within the ageless landscape of Ribble Valley, the semi-rural shared ownership schemes Bowland Meadow in Longridge and Waddow View in Clitheroe provide the perfect family homes for you to settle down, all in close proximity to vibrant market towns with charming countryside views.

THE PERFECT HOME

Bowland Meadow offers an elegant collection of three bedroom mews-style homes that are ideal for quality family living, while Waddow View provides a stylish mix of two and three bedroom semidetached and mews-style homes with a contemporary feel.

Each home boasts a spacious lounge with an airy open-plan dining room and kitchen, framed by French doors overlooking the private garden. These spectacular energy-efficient homes also include modern bedrooms, a useful downstairs WC and off-road parking.

STUNNING SURROUNDINGS

Longridge is located just north of the thriving city of Preston and is well served with public transport links including

a frequent bus service to Clitheroe, Preston and a mix of surrounding quirky villages. It is also home to a host of local amenities including several supermarkets, restaurants, bars and local stores all within walking distance.

Clitheroe is a historical market town with a bustling high street and side streets full of character. With its array of colourful boutiques, galleries, cosy cafes and a 12th century castle perfect for exploring, it’s no wonder it’s been recognised nationally as one of the best places to live in the UK.

Both towns are just a few miles from the beautiful Forest of Bowland – a designated Area of Outstanding Natural Beauty thanks to its ancient woodlands and flower-filled hay meadows. Here, you can enjoy the panoramic views of Lancashire’s rolling hills or take a hike up towards the iconic Pendle Hill.

There are also several primary schools and a local high school all rated either Good or Outstanding by Ofsted, making these properties ideal for a growing family.

IS SHARED OWNERSHIP RIGHT FOR ME?

Shared ownership is the perfect alternative for you if you can’t quite afford the

HERE TO HELP

The Snugg Homes team is on hand to answer any questions and support you every step of the way as you take the road to homeownership, whether that’s about Bowland Meadow, Waddow View or any of our other stunning schemes.

To register your interest, please visit our website snugghomes.co.uk. You can also follow us on @SnuggHomes on Twitter or @snugghomes on Instagram and TikTok

Bowland Meadow

Finding your forever home on the edge of one of England’s breathtaking areas of Outstanding Natural Beauty has never been easier, thanks to shared ownership specialist Snugg Homes

Waddow View

NEW OPPORTUNITIES FOR HOMEOWNERSHIP WITH SOUTHERN HOUSING NEW HOMES

Housing providers Southern Housing Group and Optivo merged in December to become Southern Housing, united by a shared mission to provide the best quality, affordable homes while creating communities that people love

Vikki Walker, Director of Sales & Marketing at Southern Housing New Homes, introduced the merger by saying, “By coming together, we will be stronger and more resilient, investing in opportunities from vibrant city centre apartments to traditional family homes in the countryside, and be a marketleading housing provider with a portfolio of over 77,000 homes and a commitment to delivering over 700 high quality, sustainable new homes in 2023/24.”

As part of the merger, the Southern Housing New Homes team will be unveiling its dedicated brand and website in April, showcasing a combined portfolio of high-quality new homes available across London and the South East through shared ownership and open market sale.

From Corner Place in Bethnal Green to Beck Gardens in Beckenham, or The Grove in Croydon to The Uncommon in Clapham, there are homes at varying price points to help people on to the property ladder. Outside of the capital, there are new homes in Hampshire, Kent, Sussex and Surrey, from stylish apartments close to the seaside like Home X and Grand Avenue in Brighton & Hove to homes in established market towns like Ockford Park in Godalming and Old Portsmouth Road in Guildford.

Jane Williams, Head of Sales & Marketing at Southern Housing New Homes, comments, “We firmly believe that we are ‘better together’ with a shared vision to create sustainable communities that people love and help more people to

secure a dream home of their own, in more locations than ever.”

A large part of Southern Housing New Homes’s portfolio is shared ownership, which, following the end of Help to Buy, has recently come back into the spotlight. With shared ownership you finance a share you can afford, typically between 25 and 75%, while paying subsidised rent to a housing association on the remainder.

The key advantage is that you only need a mortgage for the share you buy, which means you require a much smaller deposit compared to buying on the open market. You can decorate as you please, sell your share if and when you want, or buy more shares over time (known as staircasing) up to full ownership.

Schemes such as shared ownership play an important role in offering alternative routes on to or up the property ladder, especially in these challenging times, with the cost-of-living crisis impacting everyone. Against this backdrop, Southern Housing

New Homes is also committed to building high-quality. energy-efficient, sustainable homes that are fit for the future. The group’s new homes benefit from EPC ratings of C or above, which means reduced running costs for owners compared to older homes.

To help guide people on their homeownership journey, Southern Housing New Homes prides itself on its industryleading customer service.

Vikki Walker, adds, “Our expert team is on hand to guide customers through every step of the journey. We make sure you know what costs to expect and offer you support to make an educated decision on what is right for you, and with a host of new customer tools recently launched, this process will become even easier.”

Keep an eye out for Southern Housing New Homes’ new website launching in April, where you can find out more about how it can make homeownership a reality for you: shnewhomes.co.uk

Lime Works Home X

Grand Avenue

Located in the heart of Monton, one of the fastestgrowing property hotspots in the North West, this exclusive new development comprises a collection of new one and two bedroom apartments, unrivalled in their location and design. The Foundry is located on Lansdowne Road, within walking distance of Monton Village and just a stone’s throw away from a wealth of exceptional amenities.

With its central location and excellent transport links, The Foundry is the perfect place for a range of buyers. This exciting new four-storey development consists of five different apartment types, due to be ready to move into in April 2023.

All of the 36 apartments at

LUXURY LIVING IN ONE OF MANCHESTER’S PROPERTY HOTSPOTS

The Foundry boast an openplan layout that maximises space and natural light. The Foundry is designed with modern living in mind and each apartment is home to a fully fitted Paula Rosa Manhattan kitchen, LED lighting and a suite of integrated appliances.

Bathrooms at The Foundry benefit from Porcelanosa ceramic tiling, an over-bath shower, heated towel rail and LED lighting, complete with an illuminated mirror. The Foundry also offers secure cycle storage, parking, and a beautifully landscaped exterior.

The Winsor is a one bedroom, one bathroom apartment that benefits from the same modern finishes and high specification as its two bedroom counterparts. The Hale, The Faraday, The Swann and The Sprengel are all two bedroom apartments with both a bathroom and an

en suite. Each of these designs has a slightly different floorplan, offering a variety of layouts so that your home is as unique as you are!

Shared ownership provides a perfect opportunity for first time buyers to buy their own share in one of The Foundry’s

amazing apartments, with shares of 40% to 75% available to purchase. So, you can buy a share in one of these stunning new homes with a mortgage, and pay a subsidised rent on the remainder, with the option to buy more shares in your home in the future.

Gecko Homes, part of Southway Housing Trust, is based in Manchester and prides itself on making the buying process as simple and straightforward as possible.

Gecko aims to provide a home for every need with its new, high-quality and beautifully designed homes. There are options to rent and buy, including shared ownership, ensuring that luxury living is affordable for every buyer and budget!

To register your interest in The Foundry, or find out more about Gecko Homes and other new properties it has available across Manchester, please email sales@geckohomes.co.uk, call 0330 995 1333, or visit geckohomes.co.uk

It can be difficult to find a home in a location that offers the perfect balance between city and village living, especially one that’s affordable for first time buyers. Gecko Homes has created somewhere with the perfect balance, for both you and your bank – The Foundry

Recently voted one of the coolest streets in the world, Deptford High Street blends traditional and modern, embracing diversity, vibrancy and captivating architecture¹. Described by Time Out² magazine as “the most alive street in London”, the quirky hotspot, located in the borough of Lewisham, south east London, features a bustling community keen to soak up the trendy atmosphere, experience the local markets and enjoy the green pockets nestled within the urban convenience

Situated in the heart of the Deptford community is the new mixed-tenure development No.1 Creekside by Lewisham Homes, consisting of linked six and eight-storey buildings connected by a landscaped communal garden, blending seamlessly into the surrounding architecture. Offering a range of one, two and three bedroom apartments available to buy under the shared ownership scheme, each home is fitted with a spacious openplan kitchen, and has private outdoor space with views over the bustling town.

From artistic cafes tucked under the railway arches to the rich selection of restaurants and bars, including both family run venues and high street favourites, Deptford’s hospitality industry has regenerated at impressive speed, all while the integrity of its origins remains.

A strong network of local businesses supports the area including charity shops, bakeries and florists, which can be found throughout Deptford Market Yard and the neighbouring streets. The thriving market stalls bring delicacies from the Caribbean, hand-crafted gifts from local sellers and hidden vintage treasures such as clothing, antique silverware and classic record players. For a cosy pub visit, The Birds Nest is a favourite among locals and is on the doorstep of No.1 Creekside.

A stone’s throw away from the development, residents can find a wide choice of supermarkets and high street retailers as well as international food stores. For fitness fanatics, Wavelength Leisure Centre, multiple gyms, an archery club and yoga studios are located within the nearby vicinity and for young families, a selection of reputable schools, parks and leisure activity

TRENDY DEPTFORD WELCOMES FIRST TIME BUYERS

centres, such as Deptford Discovery Centre, make this the ideal place to call home.

Also, just a 20-minute train ride away is the desirable neighbourhood of Blackheath, which offers a tranquil green heath, trendy eateries and a popular market.

Away from the bustling hub of the markets and local facilities, Deptford also has plenty of idyllic green spaces dotted around, including the serene Deptford River and the biodiverse waterside haven Broomhill Park.

The contemporary apartments of No.1 Creekside are positioned just outside these natural sanctuaries and residents also have easy access to the nearby Greenwich Park and its iconic Royal Observatory. With each apartment benefiting from its own private outdoor escape, in the form of a balcony or terrace, the development provides homeowners with the metropolitan dream combined with rural retreatism.

Architecturally, the trendy warehousestyle apartments nod to the historic character of Deptford, with bronze metalwork and recessed balconies. The interior has a modern feel, featuring highspecification fixtures and fittings including an integrated Zanussi 50/50 fridge-freezer,

dishwasher, freestanding washing machine and engineered hard flooring to the kitchen/living/dining area.

Each primary bedroom has a built-in wardrobe and all bedrooms are carpeted, while stylish bathrooms are fully tiled with a shower bath, large mirror and chrome towel rail. The apartments are heated with a central air source heat pump system and a video entry system ensures residents feel secure at all times.

For transport, Deptford Bridge DLR station connects commuters and residents to the rest of the city and is situated just a short walk from No. 1 Creekside. The carfree development has efficient bike storage, and a complex network of pedestrian and cycle routes make Deptford an incredibly accessible and green location.

Prices start from £97,500 for 25% of £390,000 full market value for a one bedroom apartment.

sales.lewishamhomes.org.uk/developments/ creekside

1 bbc.co.uk/news/uk-england-london-62693537

2 timeout.com/uk/news/this-is-officially-the-coolest-street-inthe-uk-according-to-time-out-082522

WILL YOU STEP INTO THE RIBBLE VALLEY WITH PLUMLIFE HOMES?

Soaked in history and with beautiful green spaces around every turn, Ribble Valley is an affluent area made up of small towns and villages. And it has become one of the most desirable locations to live in the North West!

It’s a pleasure to offer a homeownership solution to people who cannot typically afford a property in this area. Many of the homes we are selling in the Ribble Valley are through shared ownership – and if you don’t know already, shared ownership is a scheme for people who cannot afford to buy a home on the open market, instead you can buy a share of the property and pay an affordable rent on the remainder. You can

then buy a larger percentage of the property as and when you’re ready – it’s a great solution for all types of people including those looking to step on to the property ladder for the first time.

We have a few exciting developments in the Ribble Valley. Conveniently located in the desirable suburban village of Barrow, we have Oak Leigh Gardens. Nestled between areas of natural beauty including the Forest of Bowland, while also being close to a range of towns and cities, Oak Leigh Gardens gives everyone the best of both worlds. On this development, we are advertising The Hornbeam, a contemporary two bedroom family home which includes a

spacious living area to the front, while to the rear it boasts a modern fitted kitchen/diner with integrated hob, oven and fridge-freezer. In the winding streets of Clitheroe you will find a host of independent shops, bars and exciting eateries and it is here you’ll find our Montague Place development. On this development, one of our property types is called The Bede, which is for people aged 55 and over. It is a two bedroom bungalow that features a spacious, bright living room with double doors looking out to a private rear garden.

Ribble Valley is just one of the areas in the North West where we’re developing and selling homes for shared ownership. Throughout this year we’ll have new homes being released across the North West, including apartments in Manchester city centre and beautiful family homes close to Sheffield city centre.

Why not stay in touch with us to find out what else we have coming soon?

All of the developments we mention here, and many more, are available to view at plumlife.co.uk

At Plumlife we understand that the need for high-quality affordable homes has never been greater, and for that reason, we’re excited to be selling a selection of stunning new homes nestled in the beautiful Ribble Valley

Oak Leigh Gardens

Shared ownership: Crewe, Cheshire

Rhianne, 28, was faced with the all too familiar hurdle of rising house prices and an inaccessible market when it came to taking the first step on the property ladder. A home in the South East was out of reach, but new flexible working arrangements gave Rhianne and her partner Sam, 29, an opportunity to look further afield

After purchasing a three bedroom semi-detached house through the shared ownership scheme at Weston Woods by Latimer in Crewe, Cheshire, the couple have space to grow and are now enjoying their new lives in the countryside.

Rhianne and Sam were previously living in a rented one bedroom flat in Hampshire, but quickly realised that staying in the local area was unaffordable for them. Rhianne comments, “House prices in Hampshire and the South East had rocketed and showed no sign of coming back down, so we explored alternative avenues. With contemporary hybrid working, I realised we were no longer geographically constricted by work commitments. With my role as Global Visual Communication Manager at Reiss, I have the flexibility to live outside of the heavily priced areas surrounding London and Sam did too.”

After discovering the Weston Woods development, Rhianne and Sam had a swift journey from viewing to completion which took just six months. Rhianne added, “Luckily we were able to view our actual home, meaning we could visualise the size, layout and could even customise the flooring. We looked at another new build site but nothing compared to the space at Weston Woods. After the viewing, we knew this was the home for us. I am the sole mortgage holder and bought a 45% share of the property which has a full market value of £205,000 and required just a 5% deposit.

“Our monthly outgoing is about £100 less than on our one bedroom rental in Hampshire, which my friends and family can hardly believe. For a lower monthly cost, we now have three bedrooms, a lovely garden and so much more storage space than our rental offered. I plan to staircase in the future and hope to eventually own 100%

of my home, something which wouldn’t have been possible had we stayed near London.”

Rhianne loves her home and the local area, which caters to every aspect of her lifestyle. She explains, “The home itself is absolutely beautiful. It’s fresh, spacious and is in a wonderful location. We have converted one of the rooms into a home office and the other is used for guests. Our garden looks on to an area of green space which is blossoming at the moment, so looks incredible. We have made our home warm, cosy and full of colour and indoor plants. I have started to document our new build journey on my home Instagram account @village_newbuild.”

The couple are making the most of the

FACT FILE

Property: Three bedroom house

Full market value: £205,000

Share value: £92,250 for a 45% share

Deposit: £10,250

location and rural life of South Crewe. “We really feel part of this village community where everyone says hello to one another and helps each other out. We love walking and going on bike rides so the countryside around Crewe is perfect for us. Also, we’re so well placed for day trips.

“Old Trafford Shopping Centre is a 45-minute drive away and the beautiful Peak District is close by too. In terms of work, I’m well positioned to reach all the big cities like Birmingham and Manchester and a ticket to London is £40, nearly the same as when I was in Hampshire.”

As a first time buyer and solo mortgage holder, Rhianne was grateful for Latimer’s sales team’s support and professionalism. “My experience was brilliant, it showed that buying a home is possible and can be a seamless process if you have a helpful sales team and make use of the shared ownership scheme.”

All homes at Weston Woods have now been reserved. For information on Latimer’s other sites, please visit latimerhomes.com

“OUR MONTHLY OUTGOING IS ABOUT £100 LESS THAN ON OUR ONE BEDROOM RENTAL IN HAMPSHIRE, WHICH MY FRIENDS AND FAMILY CAN HARDLY BELIEVE”

THE CREAM OF THE CROP FOR SALE

Each month, FTB scours the market for the best starter homes for rst time buyers. So, if you’re looking for a waterside home or a chic city apartment and you are on a budget, we hope you enjoy our selection.

Shared ownership p68

FIRST CHOICE

WATERSIDE VISTAS

Affordable homes p70-71

FIRST CHOICE

EAST END COOL

City style p72-73

BRENTFORD, WEST LONDON

FOREST GATE, EAST LONDON

AFFORDABLE HOMES

FIRST CHOICE

FROM £96,250*

The Moorings

Positioned alongside Brentford Lock, complete with colourful canal boats and waterside restaurants, these new homes occupy somewhat of a tranquil location. And with an established community, popular cafes, bars and shops set around the water, there’s a distinct village feel, too. The one and two bedroom apartments available here are thoughtfully designed, with well-proportioned living spaces that open to private balconies, stylish kitchens and plenty of natural light. Bus and rail links are easily accessible, while the River Thames and Syon park are around 20 minutes’ walk.

Legal & General Affordable Homes 0808 231 1370 landgah.com

*Based on a 25% share of the full market value of £385,000

BRENTFORD, WEST LONDON

The Longwater Collection at Green Park Village

Forming part of the wider Green Park Village − a growing community just outside Reading − this new collection of one and two bedroom apartments is a commuter’s dream. Reading can be reached in six minutes by train from the development’s station, with onward services to London Paddington taking 21 minutes.

Wild Walk

Residents at this new development just outside of Telford are encouraged to take a walk on the wild side and keep sustainability at heart. Not only does it boast excellent green credentials, but it sits next door to Granville Country Park, one of the most wildlife-rich areas in Telford. For everyday life, the local area is

The apartments have stylish and spacious interiors and private outdoor space. Residents have parking as well as plenty of onsite facilities including a market square, landscaped areas and a picturesque lake.

Berkeley Group 0118 321 2697 berkeleygroup.co.uk

FROM £305,000 FROM £250,000

Aspects

With a £1bn investment programme transforming the area, Stevenage is a town with a bright future. This new collection of one and two bedroom homes sits a 10-minute drive from the centre of town, and with open countryside on the doorstep. The properties are bright and spacious with open-plan living

Leon House

home to a great choice of shops and cafes, while pretty Telford is a 10-minute drive for day trips and entertainment. The properties range from two to four bedroom houses in a range of styles, and are perfect for family life.

Lovell 01952 924 401 lovell.co.uk

Located in the heart of this bustling south London town, Leon House is an iconic part of Croydon’s landscape. The 20-storey former of ce block has been regenerated into a contemporary collection of one and two bedroom apartments, with many available through shared ownership. The excellent on-site facilities include a

areas leading to recessed balconies. Additional features include separate utility/laundry room and built-in wardrobe. Both Stevenage and Knebworth railway stations can be reached in under 10 minutes by car.

Hill 01438 902 540 hill.co.uk

FROM £230,000 FROM £105,625*

communal rooftop garden and coworking space. As well as great local buses, transport links further a eld are fantastic. From East Croydon, London Victoria can be reached in 20 minutes, and the south coast in 45 minutes.

Legal & General Affordable Homes 0808 231 6273 leonhouse-sharedownership.co.uk

*Based on a 25% share of the full market value of £422,500

READING, BERKSHIRE STEVENAGE, HERTFORDSHIRE

TELFORD, SHROPSHIRE

CROYDON, SOUTH LONDON

CITY STYLE

FIRST CHOICE

EAST END COOL

The Grove

With so much to offer east Londoners, the one, two and three bedroom homes at the Grove are selling quickly. The apartments are set on a leafy residential road just moments from Forest Gate station (for fast Elizabeth Line services to central London), popular green spaces and the busy town centre. Stratford and Hackney are very easily reached, for a plethora of food, entertainment and shopping options. The apartments are beautifully designed, with bright living spaces, well-sized balconies and high-quality xtures and ttings throughout.

Gateway Housing Association 020 3376 6455

newhomes.gatewayhousing.org.uk

FROM £102,500*

FOREST GATE, EAST LONDON

NORWICH, NORFOLK

FROM £309,950

CHELMSFORD, ESSEX

St James Quay

Occupying a prime location in central Norwich, alongside the River Wensum, these new homes are a highly sought-after addition to the community. The one and two bedroom apartments and three bedroom townhouses have been thoughtfully designed in keeping with the surrounds and form part of the ongoing renewal of the

EDDINGTON, CAMBRIDGE

city centre. The contemporary homes are fresh and stylish, with sleek kitchens, under oor heating, balcony from the living room and some great views over the river. The city centre is a few minutes’ walk, with rail links to London.

Hill 01603 882 425 hill.co.uk

The Arbour at Beaulieu

Set within the former parkland of the Tudor palace of Beaulieu, this major new development has created thousands of new homes just outside the popular city of Chelmsford. Homes range from one bedroom apartments to ve bedroom family houses – with the latest phase of one and two bedroom homes at The Arbour

WHITE CITY, WEST LONDON

Rubicon at Knights Park Acer Apartments

The striking architect-designed homes at Rubicon complement their picturesque surroundings. The one, two and three bedroom homes and penthouses sit within landscaped green spaces. Inside, they are sleek and sophisticated, with oor-to-ceiling windows, contemporary kitchens and openplan living spaces. The on-site

co-working spaces are ideal for those working from home, while the community of Eddington has a school, nursery, hotel and sports facilities. Cambridge lies around two miles south.

Hill Living and The University of Cambridge 01223 607 200 knightspark-eddington.co.uk

Iconic Wood Lane, home to the former BBC Television Centre, has become an entertainment, retail and culture hotspot. A great number of new homes have been created, along with White City’s enormous West eld and new sites for some cult restaurant brands. These new homes offer a slice of the action, with one and two

recently launched. The properties are surrounded by landscaped gardens, and the new community will eventually include new schools, transport links and amenities. The city lies just 30 miles east of London.

L&Q 0300 456 9996 lqhomes.co.uk

FROM £78,750* FROM £126,250*

bedroom apartments available through shared ownership. The Zone 2 Central Line station is moments away, and with Television Centre still operational you’re bound to do some star spotting!

Legal and General Affordable Homes 0808 231 3180 landgah.com

DECORATE IN STYLE WITH HARRIS BRUSHES

Whether your first home is brand new or needs a complete makeover, you will want to put your personal stamp on it – and what better way to do so than with a spot of painting and decorating! Whether you are a complete beginner at DIY or you have a bit of experience, Harris, the leading painting and decorating tools brand, is always able to help.You can find complete "how-to" guides and fabulous hints and tips on harrisbrushes.com. Even better, Harris is offering a comprehensive bundle of all the tools you might need to seven lucky winners in our great competition! Worth £50, each bundle contains a selection of Harris paint brushes, rollers and preparation tools so you can be ready for your next decorating project!

WIN!A£50BUNDLE ANDOFINDOOROUTDOOR TOOLSFROM HARRIS

Meanwhile, here are a few top tips from Harris to help with your DIY. As Harris always says, successful painting is all about smooth nish and good coverage – ideally in the shortest possible time. Two things are vital to ensure satisfying results. Use the right tools for each job – Harris tools are all task-speci c − and good preparation.

PREPARATION

First, prepare the surfaces well, mending any damage and creating a smooth canvas for your painting. Secondly, use a Harris task-speci c paint brush or roller to get the best nish with the paint you will be using. Use a Harris Double Protection dust sheet on the oor in your work area. To ensure a smooth surface for painting, remove any old aky paint, varnish or wallpaper and repair any holes, damaged plaster or gouges in wood. The Harris Ultimate range includes tools for preparing and repairing at and curved surfaces, all with soft grip handles for easy working. Sand away any rough spots on the surfaces you will be painting then use a Harris micro bre cloth to remove the dust. Finally, tape off any areas you do not want to paint, using Harris Ultimate masking tape for sharp edges without seepage. Suitable for wood, plaster, metal, glass and PVC, it’s easy to apply and remove.

PAINTING WALLS AND CEILINGS

Always start with the edges. The most important thing is to use a paint brush designed for "cutting in" – which means painting edges – such as the corner of the room, around light switches, window frames, up to skirting boards etc. The Harris Ultimate Walls & Ceilings Blade brush is perfect with its tapered bristles to create an edge as thin as a blade, giving absolute control. Patented Harris NO-LOSS™ technology also means no loose bristles!

PAINTING WOODWORK

Smaller scale woodwork can be ddly, so get a selection of brush shapes and sizes. The Harris Ultimate range of woodwork brushes includes at brushes for at smooth surfaces like doors and windowsills, round and angled brushes for curves and spindles, but for really tricky areas, the precession triangular brush is perfect. It’s easy with Harris. Let’s Decorate!

harrisbrushes.com

HOW TO ENTER

Answer the following question:

What type of woodwork brushes does the Harris Ultimate range offer?

Send your answer with your full name, address and telephone number to: lynda@ rsttimebuyermag.co.uk

Closing date: 9 May 2023

THE PRIZE…

SEVEN LUCKY WINNERS HAVE THE CHANCE TO WIN A HARRIS BUNDLE WORTH £50, OF BOTH INDOOR AND OUTDOOR TOOLS, COVERING PREPARATION, PAINTING WALLS AND CEILINGS AND PAINTING WOODWORK.

T&Cs

• The prize is non-transferable, and no cash alternatives can be given

• The competition is open to UK mainland residents only

FIRST HOME, FIRST MEAL

What better way than to celebrate Easter than with these cute, mini striped no-bake cheesecakes from Lakeland. Perfect for that special Easter treat, they are sure to be a hit with all the family

INGREDIENTS (serves 6)

 25g butter

 6 digestive biscuits  nely crushed

 1 sachet of powdered gelatine

 80ml just-boiled water

 350g cream cheese

 80g caster sugar

 1.5tsp vanilla extract

 120ml double cream

 2-3 drops of yellow, pink and blue food colouring

To decorate

 100ml double cream

 Mini chocolate eggs

METHOD

1 Melt the butter in a saucepan over a low heat. Remove from the heat and mix in the biscuit crumbs, stirring to coat. Divide between six of the holes in the mini sandwich tin and press down with the back of a spoon to give even layers. Chill in the fridge for 10 minutes.

2 Sprinkle the gelatine powder over the just-boiled (not boiling) water in a small jug. Stir well and leave to dissolve into a clear liquid for 5-6 minutes.

3 Meanwhile, beat the cream cheese, sugar and vanilla extract together. In a separate bowl, whip the cream until it holds its shape. Fold into the cream cheese mixture. Slowly pour in the gelatine liquid, stirring it in thoroughly.

4 Divide the mixture into three equal portions in separate bowls. Add 2-3 drops of yellow food colouring to one bowl, pink colouring to the second and blue to the third, taking care not to add too much, and mix until the colour is evenly combined.

5 Share half the yellow mixture between two of the holes containing biscuit bases, half the pink between two more, and half of the blue into the last two. Carefully spread out into even layers, trying not to get the mixture up the sides of the tin.

6 To make your cheesecakes multi-coloured, add a second layer of contrasting colour to each hole. Level the tops of the cheesecakes by drawing a knife across the surface of the mini sandwich tin. Chill for 1-2 hours.

7 Carefully turn out the cheesecakes by pushing the bases upwards from underneath. To decorate, whip the double cream until it holds its shape, then spoon into a piping bag tted with a star nozzle. Pipe swirls on top of each cheesecake, then ll the centre of each swirl with mini chocolate eggs. Keep chilled until ready to serve.

8 Tips: You could freeze the cheesecakes in the tin – you may nd that they are easier to remove (they’ll thaw in about 45 minutes). If you want to make 12 mini cheesecakes, simply double the quantity of ingredients.

MINI STRIPED EASTER CHEESECAKES

Perfect for making mini cheesecakes or Victoria sponges, the non-stick loose bases ensure an easy release. To add to its long-term durability, the tin has 1mm thick carbon steel and two layers of Quantum 2 professional non-stick to make it easy to clean. And it can even go in the dishwasher because there are no rolled or uncoated edges for water to collect in. Plus, it has generously sized sure-grip handles and comes with the Lakeland three-year guarantee.

Lakeland 12 hole loosebased mini sandwich tin, £19.99

lakeland.co.uk

YOU’RE A GOOD EGG!

Don’t put all your eggs in one basket just yet... Check out FTB’s top picks for chocolate goodness this season. There is something for everyone, from family fun to children's favourites. Easter always puts a spring in our step!

SAINSBURY’S

Taste the Difference Milk Chocolate Tiramisu egg; £8

A hand-crafted, mature avoured chocolate treat.

HOLLAND & BARRETT

Montezuma’s Absolute Black Eco Egg; £10 This dark chocolate egg comes with no added sugar so it’s a treat you can feel good about!

M&S

CO-OP Fairtrade Milk Chocolate Egg Hunt Kit; £5

The Easter bunny has been! Get hunting with this kit, full of delicious eggs to hide for your hunt.

Extremely Chocolatey Hot Cross Bun Egg; £9 A standout egg with a difference this year. Indulge in all the tastiness you know and love from a hot cross bun, but in chocolate egg form.

MORRISONS

The Best Belgium Milk Chocolate & Orange Egg; £6

Enjoy this deliciously smooth Belgian milk chocolate egg with orange- avoured crunch

M&S

Percy Pig/Colin the Caterpillar Giant Choc Face; £6 each

Treat the Colin the Caterpillar or Percy Pig lover in your life, to a cheeky giant white chocolate Colin face or pink chocolate Percy face – they're totally tasty.

WAITROSE

Take it Slow Boe; £6

Take it Slow Boe is ready to go! On your marks, get set...

M&S

Chocosaurus Rex; £6

Raahh! Treat someone to this terrifyingly tasty T-rex.

WAITROSE

Sunny Side Sam; £6

This cheeky white chocolate egg is sure to make your Easter feel bright!

SAINSBURY’S

Puddles Pig Yolker; £4

An Easter egg to place a smile on anyone’s face!

HOLLAND & BARRETT

NOMO Kids Egg and Lolly; £3.50

A double act delight of a vegan creamy egg and lolly. This box is perfect for little ones suffering from intolerances to enjoy over the Easter break.

TESCO

Tesco Free From White Chocolate Crunch Egg; £4 Free from or not, If you prefer white chocolate then this one is for you.

LAKELAND

Easter eggs moulds; £4.99

Fancy giving it a go yourself and making your very own dream Easter egg? This easy-to-use mould from Lakeland lets you achieve those professional results at home.

Access to affordable homes now that Help to Buy has ended

Lesley Price FCILEx of CGM Solicitors provides advice on some of the new and existing schemes in place to assist buyers on to the property ladder in the wake of the closure of the Government’s Help to Buy scheme to new applications

SHARED OWNERSHIP SCHEME

Shared ownership offers you the chance to buy an initial share of a home worth between 10% and 75% of its market value. You will pay rent to the housing provider on the rest.  You can buy more shares in your home in the future, as and when you can afford to do so. This is known as “staircasing”. If you buy more shares, you’ll pay less rent. The amount of rent you pay will be based on the size of the share of the home you have not bought. In April 2021, the Government launched a new model of shared ownership which:

9 Reduced the minimum share required for purchase from 25% of a property’s market value to 10%

9 Introduced a 10-year period during which your housing provider will be required to support you with the cost of essential maintenance and repairs to your home

9 Allows you to purchase an extra 1% of your home every year.

The property will be purchased on a Long Leasehold basis from the housing association on pre-set lease terms and usually for a term of 990 years. If the property is a house, then you will be able to acquire a freehold title in the property once you have completed final staircasing.

The shared ownership scheme is available on both new and existing housing association schemes. Applications are made through your local housing association, which will carry out an affordability assessment to confirm if you qualify.

MORTGAGE GUARANTEE SCHEME

The mortgage guarantee scheme (launched in April 2021) is supporting lenders to offer products through a Government-backed guarantee on new 95% mortgages until 31

December 2023. This scheme is available to both first time buyers and existing homeowners up to a maximum property value of £600,000. Applications for this scheme are made direct via participating lenders or through a specialist broker. The Government underwrites part of the deposit, but the property is bought on standard freehold or leasehold terms.

DISCOUNTED MARKET SALES

When councils and housing associations build new homes for sale, some are sold at a 25% to 50% discount. This is known as a Discounted Sale.

Councils and housing associations who run this scheme set the criteria for the scheme locally. You must usually have a local connection to the area the home is in if you want to use the scheme.

Some housing associations also offer discounted schemes which take the

form of a second charge secured against the property for the discount period which would prevent you from reselling the property at its full market value without paying back the discount offered. These are also sometimes referred to as “shared equity” schemes. Although both these schemes offer a discounted purchase price, the way in which the Council-backed, and private schemes work have very different legal implications, and you need to make sure that you are fully aware of the terms – particularly your obligations when reselling the property when deciding to opt for one of these schemes.

RIGHT TO ACQUIRE

If you’re a housing association tenant in England, you could be eligible to buy the home you rent at a discount of between £9,000 and £16,000 on the price of your home. The amount of discount you will get depends on where you live, as the Local Authority must ensure it has a sufficient stock of affordable rentals in that locality before allowing homes to be purchased under this scheme.

If you sell your home within 10 years of buying it through Right to Acquire, you must first offer it to your old landlord, and they will carry out a valuation to decide its current market price. Because this calculates the value at sale, they may potentially profit from any increase in value due to market conditions or any improvements to the property you have carried out, so it is worth keeping this in mind.

If the landlord doesn’t agree to buy your home within eight weeks, you can sell it to anyone. But if you sell your home within one to five years of buying it, you’ll have to pay back some or all of the discount you received.

RENT TO BUY

The scheme is operated by housing associations and offers working households

the chance to rent a new build home at Intermediate Rent providing them with the opportunity to save for a deposit over time.

Tenants will pay an Intermediate Rent, which is rent that must not exceed 80% of the local market rate (including service charges). This discounted rent should be available to tenants for a minimum of five years.

At the end of this initial five-year period, the tenant will be offered the chance to buy the home either outright or on shared ownership terms.

SAVE TO BUY SCHEME

A similar non-Government scheme called Save to Buy is being piloted currently by new homes developer Fairview. The Save to Buy scheme enables first time buyers to save for their final deposit via fixed monthly payments while living in their new home.

Save to Buy monthly payments are based on the area’s average monthly rent and the buyer’s personal finances, of which 100% goes towards the buyer’s deposit and/or affordability deficit on a Fairview home.

There are also specific schemes available if you are an existing housing association tenant, disabled or a member of the Armed

Forces and ownyourhome.gov.uk/all-schemes has a useful comparison tool that sets out all these schemes in more detail.

TAKE ALL THE RIGHT ADVICE.

As with any home purchase it is important to get the best financial and legal advice to ensure an ownership model is the one that is affordable for you and best fits your individual circumstances and plans. The suitability of many of the schemes will depend on how long you are looking to remain in that home and your ability to build up a deposit or buy further shares.

Take time to do your research into which schemes are available in your local area and how the terms compare before settling on the scheme that suits you. And ask questions of your broker and solicitor throughout the process to ensure you understand the scheme fully.

We here at CGM Solicitors can provide a comprehensive advice service on all types of affordable homeownership as well as our conveyancing services.

For more information as to the services we can offer email newhomes@c-g-m.co.uk

Staircasing – is now the time to buy more shares?

Bill Dhariwal, Director and Solicitor, and Bernard Arhin, Staircasing and Resale Conveyancing Executive at Lawcomm Solicitors review the new rules on staircasing and whether now might be a good time for shared ownership property owners to consider buying additional shares in their property

As property prices are forecast to decline throughout 2023, now could be a good time for owners of shared ownership properties to buy more shares in their property.

“Staircasing” or “standard staircasing” is the process which enables a shared ownership property owner (a leaseholder) to buy more shares in their property from their housing association or other registered provider (a landlord). Shares can be purchased until there is 100% ownership unless the shared ownership lease contains restrictions such as for elderly leaseholders. When more shares are purchased, less rent will be payable.

A leaseholder can usually buy shares of 5% or more at any time. However, if a leaseholder purchased their shared ownership home since 2021 they may be able to buy shares of 1% each year for the first 15 years. This is called “gradual staircasing”.

EXISTING GUIDELINES

Under existing guidelines, leaseholders can staircase and progress to full ownership by purchasing 5% to 10% shares at a time. With increased house prices and mortgage rates, staircasing in such segments can be expensive. Leaseholders will also have to pay for a professional valuation of the property, legal fees and their landlord’s administration costs. Any home improvements completed are usually discounted from the valuation.

The fees associated with standard staircasing can make the process expensive and deter leaseholders from owning 100% of their property.

NEW GUIDELINES

Gradual staircasing allows owners of shared ownership properties to purchase smaller segments from as little as a 1% share with reduced fees. Homeowners can

usually also buy larger shares should they wish to do so.

The price to determine the 1% share to be purchased is based on the estimated valuation provided by the landlord linked to the original price and is adjusted each year (upwards or downwards) in line with local House Price Inflation (HPI).

This is a welcome move for leaseholders as it means that leaseholders looking to staircase a further 1% will no longer have to obtain a professional valuation every time they register their intention to staircase with their landlord. Further, the landlord will no longer be able to charge an administration fee.

Landlords will be required to rely on the original valuation (original purchase price of the home) to determine and produce the valuation to be relied on for the transaction. The valuation is valid for three months. If a leaseholder is unhappy with the valuation, they can obtain their own professional valuation at their own cost.

Landlords are prevented from charging administration fees under the gradual staircasing scheme.

A limitation under the gradual staircasing scheme is that a leaseholder is unable to roll over unused options to buy 1% shares to future years.

When a leaseholder sells their shared ownership property (called a resale), a new 15-year term will be offered to the new shared ownership owner.

The changes are significant as they should enable shared ownership leaseholders to staircase without the need to borrow further mortgage funds, and they should avoid valuation and administration fees. It is hoped that successive 1% shares can be purchased from savings or gifts. The lower the HPI the cheaper the share will be to purchase.

The main fees under gradual staircasing will be legal fees, where leaseholders require legal advice and support. That is obviously something we can help with!

For further information regarding staircasing or purchasing a property, please do not hesitate to contact us via email. Bill Dhariwal − bill.dhariwal@lawcomm.co.uk or Bernard Arhin − Bernard.arhin@lawcomm.co.uk

Bill Dhariwal Bernard Arhin

Lifetime ISA special

WHAT IS A LIFETIME ISA?

The Lifetime ISA (LISA) is a product designed by the Government to support people aged 18-39 to buy their first home or put money aside for retirement.

How does the Lifetime ISA work?

9 You can save or invest up to £4,000 each tax year and the Government will give you a 25% bonus on the amount you contribute, up to £1,000 each tax year

9 You can choose to save cash with a Cash LISA or invest in the stock market with a Stocks & Shares LISA

9 All savings in a LISA are tax free, as it’s a type of ISA

9 Your Lifetime ISA allowance of £4,000 is included in your total annual ISA allowance of £20,000.

If you’re saving to buy with someone else, you can track your combined savings progress in the Moneybox app with our Housemates feature.

WHAT IS THE LISA BONUS?

The Lifetime ISA bonus is a 25% Government top-up that you earn on the deposits you make into your Lifetime ISA (LISA), absolutely free. Since the annual LISA allowance is set at £4,000 each tax year, you can earn a maximum annual LISA Government bonus of £1,000 to help you buy your first home faster.

You’ll earn the 25% LISA Government bonus on everything you contribute – so save £4 and you’ll get £1 for free. Save £1,000, and you’ll get £250 for free – it’s that easy!

DECIDE WHICH LIFETIME ISA IS RIGHT FOR YOU

The Lifetime ISA is a great way to save for your first home. With Moneybox, you can choose from two types – a Cash Lifetime ISA and a Stocks & Shares Lifetime ISA.

The Moneybox Cash LISA offers a market-leading interest rate of 3.5%¹ and has been singled out as Money Saving Expert’s top pick.

If you’re saving your money as cash, you’ll have more certainty over the returns that you can expect each year – which is great for your short to medium-term goals.

A Stocks & Shares LISA is a way to work towards your first home by investing your money. As a result, you could be exposed

to more risk as opposed to saving with a Cash LISA, but there’s also the possibility of higher returns in the long-term.

WHAT CAN THE LIFETIME ISA BE USED FOR?

You can use the Lifetime ISA to buy your first home (up to £450,000) anywhere in the UK, but must have had the account open for at least one year before you withdraw money to do this. The time starts from your first deposit.

You can also pay into your Lifetime ISA until you turn 50 and withdraw your savings for retirement at the age of 60. In the 10 years in between, you’ll continue to accrue cash or investment gains/losses, depending on the type of LISA it is.

If you withdraw money for any reason other than buying your first home or for retirement, you will pay a 25% Government penalty on the amount you withdraw. This means you will get back less than you have put in.

HOW TO MAX YOUR LIFETIME ISA BONUS

Here’s a rundown of the tools you can use to maximise your LISA Government bonus with Moneybox.

Payday boost

Putting aside a percentage of your pay packet every month is a great way to get into the habit of saving regularly. What you put away completely depends on your personal circumstances and goals – the important thing is to be realistic and save what you can.

If you make £2,000 a month, putting aside just 5% of that will add up to £1,200 each year. And, with the 25% Government LISA bonus, you’ll get a £300 top-up – totally free. With Moneybox, you can set up a payday boost to your LISA to automatically set aside part of your pay packet towards your first home.

Weekly deposits

Making a habit out of contributing to your LISA is a surefire way to increase

Cecilia Mourain, Managing Director of Moneybox Home-buying, the largest provider of Lifetime ISAs in the UK, explains the product

your deposits over time – which will also increase your Government bonus. So, aside from a payday boost, you can also set up a weekly deposit through the Moneybox app.

You’re in control of how much to deposit each week, and you can increase or decrease this amount depending on your spending. So, if you have a quiet week ahead, you can increase your deposits. And, if there’s a birthday coming up at the

weekend, you can adjust your deposits accordingly. Because while saving for your first home is important, so is enjoying yourself in the present.

Round-ups

To really supercharge your LISA deposits and hit that £4,000 yearly allowance sooner, you can turn on our roundups feature. This will round up your everyday purchases to the nearest pound and deposit the difference into your LISA.

Many of our customers say that our round-ups feature has helped them save hundreds if not thousands of pounds. And the best part is, you don’t even have to think about it. Bought a morning coffee for £2.50? That’s 50p into your LISA. Do it 30 times in a month, and you’ve saved £15! You’ll be surprised by how much your spare change can add up to over time.

Instant bank transfer

Instant bank transfers allow you to add money to your Lifetime ISA (both Cash and Stocks & Shares) in minutes. You can pay in upwards of £100 from your linked bank account in the app, so if you make some savings throughout the month or come into a little money unexpectedly, you can make a contribution to your deposit savings with ease.

Home-buying Gift link

The Home-buying Gifts feature lets you share your unique gift link with up to four friends and family members each tax year, so they can easily contribute to your Cash Lifetime ISA and help you get one step close to achieving your homeownership goals. Each gift-giver can pay in between £100 and £500 per tax year. Not only will you get a helping hand from them, you’ll also earn interest and the 25% Government bonus on every Home-buying Gift you receive!

And finally, as with all financial products, it’s important to do your research to be sure it is the right product for you.

A 25% Government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement. Your account also needs to be open for 12 months before you can withdraw penalty-free for a house purchase. It counts as “open” once you’ve made your first contribution.

All investing should be regarded as longer term (at least five years). The value of your investments can go up and down, and you may get back less than you invest.

moneyboxapp.com

1Correct as of 8 March 2023

Protect your world

EXPERT COMMENT

Becoming a homeowner means you need to think about a variety of different insurances. Kay Hill has the lowdown on what you might need

When you buy a home, and even before that in some cases, there are several insurance products you will need to think about, to protect yourself, your property and your family.

BUILDINGS INSURANCE

Probably the most important, this insurance protects the structure of your home, plus anything that’s permanently fixed to it, like a fitted kitchen, wooden floor, bath or toilet. If you are buying a freehold property your mortgage company will insist you take out buildings insurance, which must be in place for exchange of contracts (even though you don’t legally own the house at that point, you are legally committed to buy it). The price of the insurance is based on the rebuild cost of your home (which can be found on your surveyor’s report or using the online calculator at calculator.bcis.co.uk), and is usually less than the purchase price. Your mortgage company will need to be named on the document as having an ”interest” in

the property. With a leasehold property it is the freeholder’s responsibility to arrange buildings insurance, although you will normally pay for it via a service charge.

CONTENTS INSURANCE

Contents insurance covers everything else in the home that isn’t permanently fixed, including carpets, curtains, appliances, clothes and furniture. You aren’t required to have this, but imagine the absolute worst happened – a fire or flood – could you afford to replace all the essentials?

As well as the basic cover for specific incidents that affect your property at home, there are other important “extras” that you might want to add on to your contents insurance. For example:

 Personal property away from home (sometimes called “all risks” or “personal effects”). This covers items that you are wearing or might carry, such as jewellery, laptop, phone, purse and handbag, camera, headphones etc, and usually covers them for loss or damage

The FCA has written to insurance company CEOs urging them to do all they can to protect their customers by working with them to make sure they are in the right products and not incurring any extra fees. Those customers who are in dif culty should be helped so that they don’t cancel much-needed cover. Lower income households already tend to have less insurance and they often pay higher premiums. The HL Savings and Resilience Barometer shows only 43% of households have adequate life insurance cover for instance and this drops to just 27% of lower income households. There’s concern that as in ation continues to rise people may target insurance as their next spending cut. It may be tempting for people to save money today by cutting back on insurance cover. However, doing this can have much bigger nancial consequences. One example could be cutting back on income protection and then losing your job. The potential to exacerbate nancial problems is huge and people could nd themselves in the awful position of nancial worries affecting their health which can then make these worries even worse.

Helen Morrissey, Analyst, Hargreaves Lansdown

as well as theft. You may have to declare items individually if they are worth more than a certain amount.

 Bicycle cover. Most contents insurance only covers your bike if it’s indoors at your home, or sometimes locked in your garage or shed. If you leave it in a communal bike store or want to be insured when it’s at work, then you will need this additional insurance.

 Legal expenses. These policies provide you with access to legal advice and help with a variety of issues, not just home disputes, including personal injury, problems at work and medical negligence. It can be useful, but check there’s no overlap with other insurance policies.

 Accidental damage. This covers things that you (or your kids) might

accidentally do, like knocking a paint pot over on the carpet. It can be quite costly, so consider how accident prone you are!

 Home emergency cover. This provides advice in an emergency such as roof damage, leaking plumbing or lost keys, plus a fixed amount towards the cost of professional help and alternative accommodation. Again, it can be expensive, so if you are a competent DIYer or have family who could help in a crisis, you may not feel you need it.

It is generally cheaper to buy a combined policy that covers both buildings and contents, often called just Home Insurance.

As well as insuring your home, you need to consider how you, or your partner, would cope with the new burden of mortgage payments if you lost your job, or became ill.

LIFE INSURANCE

Many mortgage lenders will insist that you have life insurance to cover the amount of your mortgage (but you don’t have to buy it from them). The cheapest option is to take out a policy for the term of the mortgage, or if you are buying jointly, a “joint life, first death” policy which pays a lump sum when either in a couple dies, sufficient to pay off the mortgage. You can, of course, insure your life for more than the outstanding mortgage, which might be appropriate if you are the main or only wage earner.

CRITICAL ILLNESS INSURANCE

This provides you and your family with a lump sum payment if you become critically ill with a specified condition such as cancer, heart attack or stroke. You could pay off, or reduce your mortgage, make alterations to your home or to supplement other income. If you are considering this type of cover you must be very careful to declare every illness, ailment or doctor’s visit as claims are often refused because of non-disclosure.

INCOME PROTECTION INSURANCE

Also known as “permanent health insurance”, this replaces up to 60% of your income if you can’t work because of illness or injury, and can pay out every month until retirement if necessary.

MORTGAGE PROTECTION INSURANCE

This is designed to pay your monthly mortgage for a fixed period of time, usually a year, in specific circumstances such as

being unable to work because of illness or an accident or being made redundant.

All of these financial insurances can be complex and often expensive, so it’s important to make sure the product is right for you – an insurance broker can help you work out the best options.

INSURANCE BUYING PRINCIPLES

Shop around: While the days of huge introductory offers are over, shopping around can still shave money off prices. Use the major comparison sites as well as checking companies like Direct Line that don’t use them. In some jobs, you may find insurance products offered by your union or employer. Expect to spend time doing this – and diary in a reminder to do it again next year three weeks before renewal, as you should never renew without checking! Read the details: Yes, it takes ages, but it’s really important to look at the policy document carefully, as insurers vary wildly in what is covered and what isn’t. Use the Defaqto Star Rating as a guide – a 5-star policy will be very comprehensive, while a 1-star will be a basic product. You may find, however, that with a higher starred home insurance policy you are paying for things you don’t need, like high value contents, garden cover, outbuildings etc, so find a policy that suits your needs.

Be honest: Never underinsure, check rebuild costs and do a room-by-room totup of your possessions and what it would cost to replace them new. If, in the event of a claim, your insurer visits and finds you have underestimated, they will deduct a percentage of your claim. Don’t conceal pets or criminal convictions, fib about how close your house is to trees or waterways or lie about your locks, as the repercussions could be serious. The same is true of financial insurances – don’t gloss over any health issues you have had, or fail to mention that you smoke (or have recently given up). Be realistic: Even the best insurance doesn’t cover everything, and is no substitute for keeping on top of repairs and maintenance, and dealing promptly with leaks, mould, mice and the other unpleasantries that life can throw at you. Think about excesses: The excess is the amount of each claim you pay yourself. A compulsory excess is what the insurance company requires (often £100, with a higher charge for subsidence), while a voluntary excess is an additional amount you might choose to pay that will reduce your premiums. Don’t make the excess so high that you would struggle to pay it, however. Pay annually: If you can possibly afford to do so, you will save money by paying for the year rather than in monthly instalments.

EXPERT COMMENT

It’s not good news that according our research, 21% of 18- to 24-year-olds and 11% of 25- to 34-year-olds who have contents insurance will be looking to cancel their policy at renewal, citing the cost-of-living crisis. While it’s not a legal requirement to have a contents policy in place, the value that it offers makes it one of the best nancial investments you can make, particularly in a cost-of-living crisis. No one wants to think the worst, but if something should happen and you needed to replace your contents, it would cost a lot more than the average price of a contents policy. It could cost just over £1 a week to cover all your belongings, and provide peace of mind that if something should happen, you wouldn’t have to pay for everything again. The current economic situation means that the cost of everything is a major factor for many and that’s to be expected, but a home contents policy provides cover for possessions such as furniture, electrical items, jewellery and clothes, which would be a huge cost if they had to be replaced, and the concern is that many people across the country could be risking going without this cover to save money in the shorter-term.

Ceri McMillan, Home Insurance Spokesperson, Go.Compare

WHAT DO THE TERMS LEASEHOLD AND FREEHOLD MEAN?

Anyone searching property portals such as Rightmove and Zoopla will often find the words “ask the agent” as to whether the property is being sold freehold or leasehold, but don’t imagine that this is a minor detail –establishing a property’s status is crucial.

HISTORY OF FREEHOLDS AND LEASEHOLDS

The system of leasehold dates back a long way and is a relic of English property law, dating as far back as the 11th century. In 1089, the Domesday Book included the word “freeholder” which means outright ownership of land, with the words “leasehold estates” appearing some decades later. While freeholders traditionally were powerful, wealthy families who owned large plots of land that they wanted to keep and make money from, leaseholds were allocated to poorer people – often serfs – to allow them to work on their land for a set period, while often providing services or payment in kind to the freeholder.

CHANGES TO THE LAW

By the 1920s, wealthy landowners or freeholders were still in powerful positions compared to their tenants but, in the

UK, legislation including rent acts were introduced to prevent landlords evicting tenants and to protect tenants from unscrupulous rent hikes. By this time the leasehold system had become less profitable for landlords, so it was during this period that many landlords started selling off leases as a way to earn money while not losing ownership, the start of today’s system.

In the post-war period from the 1950s onwards, many apartments started to be built and establishing a particular land boundary clearly demarcated on a map was impossible as typically flats are within the same building. As no freehold could be established, flats were sold as leasehold. Originally, leasehold properties reverted back to their original freeholder/landowner when they ended, but in the 1960s this system was recognised as being unfair. Since then, various pieces of legislation have been brought in to protect leaseholders’ rights and allow them to extend their leases.

LENGTH OF THE LEASE

The length of the lease is important as it affects how much you pay for the property, whether the property is mortgageable, and how much you will be able to sell it for – or even if you will be able to sell it at all. If the length of lease is over 100 years, there are no issues, and your purchase should be straightforward. Anything less and the

decision to buy must be carefully thought through. Generally, advice is that any lease that still has between 95-99 years left to run is fairly straightforward although you may need to consider extending the lease at some point so that the property holds its value when it comes to selling.

Any lease with 95 years or less remaining must be considered carefully. The sale price of a property with a shorter lease should be less than a standard sale as depending on how long you stay there you may want to extend the lease, which could prove costly. At this stage it is sensible to find out how much the lease would cost to extend and factor this into how much you are prepared to pay for the property. Anything less than 80 years should be approached with caution as the costs to extend could be much higher and getting a mortgage might prove difficult or even impossible. Trying to sell a property with a short lease is equally challenging. Thanks to the 1993 Leasehold Reform Act, most leaseholders have a legal right to extend their lease once they have owned the property for at least two years. There is a process to follow which has strict timescales.

TERMS OF A LEASE

Finding out the terms of a lease is also important. Some leases are old and may have what can seem like strange conditions attached. The first step should be getting a copy of the lease from the seller of the property, or the estate agent, or at least getting information on the lease in writing. Along with the name of the landlord/ freeholder and the length of the lease, it should also specify any conditions attached.

Leasehold versus freehold, what first time buyers need to know. Ginetta Vedrickas explores what is involved with the different tenures

For example, some leases forbid pets while others prevent owners from subletting at all or subletting for short periods such as Airbnb. Some conditions may affect renovations or improvements, for example a common clause in apartment blocks is the banning of installation of wooden flooring.

GROUND RENT

Leaseholders must pay ground rent, a regular payment to the freeholder or managing agent as a token that they do not own the land the property is built upon. Ground rent is charged by the freeholder, although collection is often carried out by a management services company. Your lease should say when, and how much, these payments should be and also how often they could increase. There are parts of the country, particularly Bristol and Manchester, where freeholders are charged a nominal ground rent, often under £5 annually and known as a “peppercorn rent”, thanks to old laws.

CHANGING LEGISLATION

Thanks to what is known as “the ground rents scandal”, the law was recently changed. The scandal arose as many owners of new build homes found that over time, ground rents were rising hugely so that they could not afford them and were unable to sell their homes. Last year the Government introduced legislation to stop this unfair practice; the Leasehold Reform (Ground Rent) Act 2022 made it illegal for freeholders to increase ground rent charges unfairly. The Act banned ground rents entirely on new homes with leases of over 21 years, plus other measures to protect homeowners. The Government said that the Act is intended to be the start of a process of major reform on leasehold property management in general. In January this year, housing minister Michael Gove told The Sunday Times that he wants to see the leasehold system of ownership, which he calls an “outdated feudal system”, scrapped by the end of this parliament.

SERVICE CHARGES

Property owners, and often renters, typically pay a “service charge”, a payment for services and repairs related to the upkeep of any communal areas attached to their home if it is a flat within a block or a house within a development that offers services for residents, such as a concierge or gym etc. Service charges vary widely and can rise hugely. In London, in developments with a pool, concierge and gym, these can be very expensive. A typical London service charge is around £1,800 to £2,000 per year, in other UK cities around £1,500, according to the HomeOwners Alliance, which offers

free guides for anyone considering buying a leasehold property.

Finding out what extra charges may be attached to any property you are buying beforehand is key, as even buying a new build home may bring surprises. Dedicated residential reviews platform HomeViews says that its insights “drive improvements across the UK property industry while helping consumers choose the very best new homes”. The website contains over 40,000 UK resident reviews of new build developments. A question the site regularly asks is “What do you wish you’d known before moving in?” Responses reveal that costly service charges are a familiar concern, explains HomeViews’ founder Rory Cramer, “Our review data shows that a significant proportion of new build owners wish they’d known more about terms and conditions before buying. This is most often connected to leaseholds and unexpected annual increases in service charges or management fees.”

Even in older-style properties, service charges can vary enormously, for example if repairs are needed to common areas, such as the roof. Even if the property you are buying is not on the top floor, or if you don’t use amenities such as a lift, these charges apply to everyone in the block. By getting a solicitor who is skilled in leasehold to examine a lease beforehand, you can see how much the service charge has been, any repairs that have been recently carried, and determine which repairs may be needed in future.

Buying an ex-local authority property can also be potentially expensive as leaseholders within a block may face large bills if major repairs works are subsequently carried out to the development. Post-Grenfell, many leaseholders of ex-council properties found themselves facing large bills and unsaleable properties thanks to unsafe cladding. With current concerns over mould, there are fears that leaseholders in ex-local authority housing stock could also face steep hikes in maintenance charges.

CONVEYANCING AND LEASEHOLD

Leasehold properties are more complex than freehold, requiring more due diligence from your conveyancer who must be skilled in leaseholds. Search Acumen finds that leasehold transactions can take up to 40% longer to manage than freeholds, which MD Andrew Lloyd explains, “This makes communication efficiencies between stakeholders absolute critical, whether that’s the buyer, estate agent or solicitor.”

More information: hoa.org.uk; leaseextensionuk.info; homeviews.com; london.gov.uk/ programmes-strategies/housing-and-land/homeslondoners/leasehold-guide; lease-advice.org; leaseholdknowledge.com

EXPERT COMMENT

We would advise anyone considering buying a leasehold flat to carefully check terms and conditions, especially concerning ground rent, service charges and admin/management fees. This is best done with the help of a conveyancing solicitor, but we would recommend the HomeOwners Alliance for more detailed information and advice.

Rory Cramer, Founder of HomeViews

EXPERT COMMENT

In an ideal world, our advice would be to avoid buying leasehold if you can. Properties with a share of freehold will give you more control over how the building is being managed. Unfortunately, most flats are leasehold and are the only option, so it’s important to realise that not all leaseholds are the same and there are many happy leasehold owners. Don’t be scared of buying, but it’s important to understand the terms of your lease, the schedule of service and maintenance charges. Don’t scrimp on a conveyancer – instruct one who will go through the lease with you in detail and highlight any issues.

Paula Higgins, CE, HomeOwners Alliance

EXPERT COMMENT

Gaining the lease maintenance paperwork alone can often add another four weeks on to a transaction time, and during today’s economic climate where mortgage offers are expiring based on ever-changing interest rates, four weeks can have the power to make or break a deal. As well as longer completion times, leasehold conveyancing costs can also be much higher, so by allowing further transparency throughout the process, buyers can see more clearly what their money is paying for and feel less frustrated along the journey.

Andrew Lloyd, MD of property data, insight and technology provider, Search Acumen

Agony agent

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

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@ rsttimebuyermag.co.uk

QI’ve been saving towards a house deposit for the past three years in the hope of finally getting on to the property ladder in London through shared ownership after years of renting. Is this really an affordable option for me? I’m nervous that my savings won’t go as far as I had initially hoped with costs on the rise.

Clara Dean, Mile End

AGetting on to the property ladder is a daunting process for any first time buyer, not made any easier by the costof-living crisis and interest rates being higher than they have been in previous years. The good news, though, is that you’re absolutely right –there are specialist schemes, such as shared ownership, designed to offer first time buyers an affordable alternative to privately renting or purchasing on the open market.

In a period of increasing mortgage and interest rates, shared ownership is a fantastic way to ensure your costs remain as low and that your savings go as far as possible. The Homes England Affordability Calculator is a useful resource for first time buyers to understand the breakdown of the average monthly costs for buying through shared ownership. When compared to the monthly costs of privately renting or purchasing a property on the open market, this Government-backed scheme offers first time buyers savings month-on-month as well as the opportunity to secure a home with a lower deposit.

Demonstrated by Homes England, the monthly mortgage repayments required for a shared ownership home tend to be considerably lower than the same costs for homes on the open market since your mortgage is based on the share that you are purchasing rather than the full value of the home.

As with buying on the open market, a mortgage adviser will be able to let you know whether a property is affordable for you and what your monthly repayments will be. Every housing provider that offers homes through shared ownership must appoint an independent mortgage adviser to conduct the affordability assessment. But, if you’re looking to get ahead and get an idea of what you could afford, using a mortgage calculator can provide useful initial guidance and give you an idea of the sorts of properties that might be accessible for you.

Compared to open market homes, purchasing through shared ownership means you can save 40% on your housing costs, or approximately £728 per calendar month compared to purchasing a home outright, and it is possible with an income that’s 45% lower too.*

For more information about Origin’s range of new build properties, please visit originhousingsales.co.uk/developments.

Simon Scott

Paul Walton, Corporate Business Development –North, LSL Land and New Homes

Karen Woodcock, Sales & Marketing Manager, Lewisham Council

Manager, Council

Do I have enough savings to buy?

Simon Scott, Assistant Director of Commercial & Property Marketing, Origin Housing

Should I go down the shared ownership route?

QI am a first time buyer and I am really wanting to get a foot on the property ladder. I have heard about shared ownership but I am not sure it is right for me. Can you help please?

Adele Bingham, Birmingham

AI meet and speak with a lot of people who, invariably, answer no – but only because they don’t understand shared ownership. The common misconceptions, shared by many people, are; they never own their home outright, that they have to pay more, or that they will have to share their home with a stranger. Which is not the case, at all! Shared ownership is, put simply, a tool that enables a person (or people) to work towards owning their own home with a smaller deposit when compared to the traditional route. It might look daunting, because it means paying a mortgage on the part being bought and rent on the other. In reality, the mortgage and rent are both related to the size of the share being bought and, in most areas, shared ownership will be less than privately renting.

In my role, working with shared ownership providers and buyers, I understand how shared ownership can be the solution for so many people who feel priced out of owning their own home. I recently spoke with a man whose marriage had broken down. On his own he couldn’t afford to buy a property big enough for him, and his two sons, outright. Shared ownership enabled him to do so and, from that point, make a new start. Being able to buy a brand new home, through shared ownership, also meant his home was more energy efficient and worry free in terms of

repairs and maintenance. Now he’s settled, and busy shopping for paint colours. As he builds up more savings he will be able to “staircase”, buying further shares of his home until he reaches 100% ownership.

Shared ownership is right for anyone who feels ready to get on the property ladder but doesn’t have a big enough deposit for the home they need. If that’s you then, yes, shared ownership is definitely the right option.

Paul Walton

What are the benefits of shared ownership over renting?

QI am currently living in a rented property in London. What benefits would I see if I bought a shared ownership property rather than staying in a rental?

Chris Hamstead, Peckham

AThere are many benefits to buying through the Government-backed shared ownership scheme, not least because it will get you on the property ladder. Particularly in the current property market, a scheme such as shared ownership provides an invaluable opportunity for first time buyers. Through shared ownership, you purchase a share of the property you are interested in. The great thing about this is that the minimum share is often around 25-35%, meaning you will only have to take out a mortgage for a small percentage of the home – an easier feat than buying outright. This also means the deposit required, typically the biggest hurdle for first time buyers, will be lower.

A shared ownership home also allows you to continue your property journey through the process of staircasing. This is when you buy a higher percentage of your home once you’re ready to do so; there is no time pressure.

Moving away from finances, a shared ownership home allows you to add

your individual style, a major restriction with a rented property. The home is yours, so paint, add furniture and hang pictures as you please. Also, with a new build shared ownership home, the property is much more sustainable and could save you £3,100 a year on bills compared to an older property.¹

Finally, shared ownership homes, such as our apartments at No.1 Creekside in Lewisham, are often based in regeneration areas, so residents can make full use of the local amenities and watch the neighbourhood prosper. Lewisham is undergoing huge investment with local shops increasing, eateries diversifying, education facilities growing, and green pockets popping up everywhere.

If you are a first time buyer, shared ownership is definitely a route to consider due to its economic, social and personal benefits.

Karen Woodcock

1 hbf.co.uk/news/hbf-report-watt-save/ New HBF report finds new build buyers could save more than £3,100 a year when the Energy Price Guarantee (EPG) increases

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 backs several schemes to help people get on the property ladder. The best known is shared ownership which is open to people with a household income of up to £80,000 (£90,000 in London). More details are below.

BUYING ON THE OPEN MARKET

Many people buy property on the open market. Homes are offered for sale by estate/sales agents or from private developers or housebuilders. On new build developments there is usually a show home you can look around and a sales adviser, based on site, to answer your questions. To buy on the open market, you will need a mortgage deposit of at least 5% to 10% of the full property value.

BUYING A NEW HOME OFF-PLAN

Demand for new homes often outstrips supply; this means that new homes are often reserved before their construction is complete, sometimes several months before they are built and finished. This is called “buying off-plan”. Most providers market and sell their homes in this way. Do some careful research to make sure the home you reserve is the right one for you, especially as you may not have an opportunity to physically view inside it before your commitment to buy it becomes a legal obligation.

PRIVATE INITIATIVES

Some builders offer incentives on new build homes such as cashback, legal fees or help with moving costs. You could also try to negotiate for upgrades to specification items like floorings or kitchen appliances.

FUNDING OPTIONS SAVING OPTION

GOVERNMENT AND PRIVATE SCHEMES

Help to Buy: Equity Loan/Deposit Unlock

Equity loans through Help to Buy are no longer available; they ended in October 2022. The Home Builders Federation (HBF) together with some housebuilders and mortgage lenders are offering a new scheme called Deposit Unlock as an alternative. This helps first time buyers to buy a new home with a 5% mortgage deposit. More information is available at hbf.co.uk/deposit-unlock

Shared ownership/part-buy, part-rent

The Government-supported shared ownership scheme is available for people with household incomes up to £80,000 (or £90,000 if buying in London.) Shared ownership homes are always leasehold. With this scheme, you buy a share in a property and pay rent on the rest. Rent is calculated at 2.75% (sometimes less), with annual increases of RPI + 0.5%. The amount of share that you buy is calculated based on your affordability. On many shared ownership homes the minimum is 25% (but could be higher). On some homes, you can buy a lower share starting from 10%, but these are not widely available at present. The mortgage deposit you’ll need to buy with shared ownership is calculated on the share value; this works out at a lot less than if you were buying outright. Shared ownership homes can be new build or resales, apartments or houses across many parts of England.

If you buy a home with shared ownership, you will be given the right to buy more shares in the future. This is called staircasing. In most cases, you can buy shares up to 100% of the property and own it outright. When you buy more shares, these are valued at the market value at the time. Because house prices tend to rise over periods of time, it is a good idea to think about staircasing at an early date.

First Homes

This scheme offers first time buyers discounts of 30-50% on certain new build homes. Local authorities may limit these to key workers or those who live or work in the area. When the home is sold it must be to another eligible first time buyer at the same percentage discount.

Rent to Buy

This scheme allows you to rent a new build property for up to five years and pay a redued rent while you save for a deposit. It is not widely available, however.

Right to Buy

The Right to Buy scheme helps eligible council and housing association tenants in England buy their home with a discount of up to £87,200 (£116,200 inside London). You probably have the Right to Buy if you’re a secure council tenant and have spent at least three years as a public sector tenant. Some properties are exempt.

Older People’s Shared Ownership (OPSO)

This is designed for people aged 55 and over. Scheme specific details vary, so check with the housing association provider.

Home Ownership for People with Long Term Disabilities (HOLD)

HOLD is a specialist option to help people with long term disabilities live independently in a shared ownership property where, in some cases, repairs and maintenance services are offered by the provider.

Other options

There are a few less well-known Government-backed schemes; more details can be found at ownyourhome.gov.uk

The Lifetime ISA (LISA) is a long-term savings product intended to support younger people aged between 18-39, resident in the UK, saving for their first home, or for later life. Up to £4,000 can be saved each year, attracting a government bonus of 25% on each new payment. Funds can be withdrawn without charge 12 months after opening the LISA, if used as a deposit for the account holder’s first home, subject to certain conditions. The property value must be under £450,000.

FUNDING OPTIONS

BUYING ON THE OPEN MARKET & PRIVATE INITIATIVES

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

The ftb process

APPLICATION

You will need at least three months of bank statements, payslips or tax returns, photo ID such as a passport or driving licence and details of any loans. Lenders will look at your outgoings to assess how much you can afford to pay on your mortgage each month. The bigger deposit you have and the better your credit score, the better mortgage rate you’ll be offered.

BUDGET

Work out how much you can afford to repay each month, taking into account your normal living expenses and the bills, insurance and council tax on your new home. Don’t forget there is likely to be a service/ estate management charge on a new home, plus ground rent for a leasehold property, so find out how much they will be.

CREDIT SCORE

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

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

Unless you have enough money to buy a property outright you’ll need a mortgage. A mortgage is a loan used to buy a property and is repayable over a number of years (usually 25-35 years). The loan is “secured” on the property, which means the mortgage lender could repossess your home if you fail to make repayments on time. For this reason, it’s vital only to buy a property you can realistically afford.

Before you start, find out how much money you can borrow. A mortgage adviser will need details of your income, outgoings, savings and credit history – they will then be able to give you an “agreement in principle”, which will state, in theory, how much they will be able to lend you. An agreement in principle, however, doesn’t tie you, or the lender, to anything. Instead, it will just give you a rough idea of how much money you’ll be able to borrow.

You’ll also need a deposit, normally around 10% of the property price. The bigger the deposit, the better the mortgage rate you’ll be offered. Each mortgage product will have a maximum loan-to-value or LTV.

MORTGAGE BROKERS VS LENDERS

You can apply for a mortgage via a mortgage broker (or financial adviser) or direct from a lender. A broker can look at the deals available and advise you which one would be best for your circumstances. Some mortgage products are only sold through brokers, not directly to customers.

A broker will help you with the paperwork and deal with the lender on your behalf up until completion. You may have to pay them a fee or they may earn commission from the lender – find out how they are paid before committing to anything.

Mortgage advisers in banks or building societies can only sell you products offered by that company, so it’s unlikely they will be able to offer you the very best deal for your circumstances. It’s important to shop around. You can compare mortgages online at sites such as moneysupermarket.com or

moneysavingexpert.com, then apply directly to your chosen lender.

FIXED-RATE MORTGAGES

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

VARIABLE-RATE MORTGAGES

Variable-rate mortgages are either linked to the lender’s SVR or the Bank of England base rate, and the rate you pay can change. Lenders can change their SVR whenever they want, but they normally only change it when the Bank of England base rate changes. Tracker mortgages are also variable, but they have repayment rates that are directly linked to the base rate so will go up and down with it. With variable-rate mortgages you need to be sure you could afford higher repayments if rates rise.

REPAYMENT OR INTEREST-ONLY

Most mortgages available to first time buyers are on a repayment basis. With this type of mortgage, every monthly payment will pay off some interest and some capital (mainly interest in the early years). At the end of the term, you’ll own your home outright.

If you have a larger (25% or more) deposit you may be offered an interest-only mortgage, where you only pay interest on the loan. The monthly repayments are lower but at the end of the term you’ll still owe the original mortgage sum. You’ll need to prove you have a plan in place (such as an investment) to pay off the capital.

Check out crime statistics, transport links, regeneration and, if relevant, schools.

LOCATION IS KEY

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

PROPERTY SEARCH

Once you have found the right location, go online and check out what’s on offer. Most homes are listed on property portals such as rightmove.co.uk, onthemarket. co.uk, or zoopla.co.uk, plus estate agents’ websites. Properties featured have pictures, descriptions and a floor plan, and

SEARCH Register with local estate agents, and use the internet to search for properties. Set up alerts.

sometimes a video. Also, sign up with as many local estate agents as you can. They should send you new properties that match your description, but it’s worth phoning them regularly. If you’re looking for a shared ownership property, search online at sharetobuy.com and propertybooking.co.uk.

VIEWING

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

ESTATE AGENTS

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

RESEARCH AN AREA

Check online for prices of sold properties in the area, and make sure properties you like fit your budget. You can search for recent sold prices of property in any area at nethouseprices.com, and also on property portals like rightmove.co.uk/zoopla.co.uk.

Aerial shots of an area can be viewed at google.co.uk/maps; switch to “satellite view”.

Before you put in an offer, visit the street at different times of the day and night. You could also ask neighbours and local shop owners about the area.

BEFORE YOU BUY

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

VIEWINGS

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

OFFER

If the market is slow, when making an offer, don’t be afraid to offer less than the asking price. If the property needs work done, you can use this as a negotiating tool.

BUYING

SURVEY

Make sure you have a survey – it could save you money in the long run by spotting any problems.

SOLICITORS

Compare quotes from solicitors, and ask your friends who they recommend. A good solicitor can make a big difference to whether a purchase completes or falls through. Online companies can be cheaper but are less personal.

SEARCHES

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

TIPS

Buying a property is a big investment. You need to make sure you buy a home that you can afford and one you will be happy living in.

Thorough research

TIPS

A QUICK SALE

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

Use a recommended solicitor who you know to be reliable and who can move fast.

Never get pressured into an exchange and completion date without knowing all your finances and documents are in place. If you can’t complete, you may have to pay the seller’s costs.

English property law is different to Scottish law: in England, if you put in an offer and then have a change of heart, you can legally back out of the deal or negotiate up until the exchange date. But, in Scotland, an agreed price is binding.

INSURANCE

You must have buildings insurance in place for when you exchange contracts (not complete). This will be a condition of your mortgage offer.

SURVEYS AND VALUATIONS

Buying process

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

SOLICITORS

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

EXCHANGE AND COMPLETION

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

TIME SCALE

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

BUYERS’ COSTS

SOLICITOR’S/CONVEYANCING COSTS (ESTIMATED)

£1000-£1,800

LOCAL AUTHORITY SEARCH FEES (ESTIMATED)

£150-£300

LAND REGISTRY FEES:

Scale 1 fees relate to the registration of both new builds and resale properties for monetary consideration.

Apply using the portal or Business Gateway, for transfers or surrenders which a ect the whole of a registered title

For a purchase of £0 - £80k £20.00

For a purchase of £80,001-£100k £40.00

For a purchase of £100,001 - £200k £100.00

For a purchase of £200,001 - £500k £150.00

For a purchase of £500,001 - £1,000,000 £295.00

For a purchase of £1,000,001 and over £500.00

Apply using the portal or Business Gateway, for registration of all leases and transfers or surrenders which a ect part of a registered title

For a purchase of £0 - £80k £45.00

For a purchase of £80,001-£100k £95.00

For a purchase of £100,001 - £200k £230.00

For a purchase of £200,001 - £500k £330.00

For a purchase of £500,001 - £1,000,000 £655.00

For a purchase of £1,000,001 and over £1,105.00

STAMP DUTY LAND TAX (SDLT) (UNTIL 31/09/2022):

Up to £250,000 Zero

The next £675,000 (the portion from £250,001 to £925,000) 5%

The next £575,000 (the portion from £925,001 to £1.5 million) 10%

The remaining amount (the portion above £1.5 million) 12%

In October 2022 you buy a property for £295,000. The SDLT you owe will be calculated as follows:

0% on the first £250,000 = £0

5% on the final £45,000 = £2,250

Total SDLT = £2,250

OTHER FEES TO CONSIDER (ESTIMATED, DEPENDENT ON CIRCUMSTANCES):

MORTGAGE ARRANGEMENT FEE

Expect to pay a fee of at least £1,000 to secure an attractive rate. But some can be £2000+

The lender will usually o er you the option to pay the arrangement fee upfront, or you can add the fee to the mortgage. The disadvantage of adding the fee to the mortgage is you’ll pay interest on it, as well as the mortgage, for the life of the loan. But if you pay the fee upfront, there’s a chance you could lose it if anything went wrong with the purchase.

MORTGAGE VALUATION

Typically, around £300-£600, but can be significantly more

MORTGAGE BROKER’S FEE

£0-£500 usually paid at mortgage application

BUILDINGS INSURANCE

Estimate £200-£300 annually – The price depends on the cover you require and your excess. The building insurance is calculated based on the cost of rebuilding your home is known as the ‘buildings sum insured’. It’s important to know that there’s likely to b a di erence between your home’s market value and the cost of rebuilding your home.

GROUND RENT (LEASEHOLD ONLY) & SERVICE CHARGES

£700-£4,000 annually

If you own a long lease on a property in England and Wales you will normally have to pay rent to the freeholder or landlord of the property; this is known as Ground Rent. The lease will normally specify how much rent you have to pay and when it has to be paid. The ground rent can be a fixed sum for the length of the lease, or the lease can provide for the ground rent to increase over the course of the lease. Service charges vary based on the building and the services provided. A building with concierge service, numerous lifts can be very expensive. You should go through the service charge costs with your solicitor. These are audited and the price paid changes annually generally in April. New freehold homes may also have service/estate charges for maintenance of communal areas.

REMOVALS

Shop around for a removals rm, and nd one that can move your possessions on completion day. You could also look at van hire to do it yourself.

COMPLETION

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

REMOVALS (IF REQUIRED)

£500-£2,500

Home buying glossary

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

AGREEMENT IN PRINCIPLE

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

APR

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

ARREARS

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

BASE RATE

The interest rate set by the Bank of England. Lenders usually use the Bank of England base rate to set their own interest rates.

BROKER

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

BUILDING SURVEY

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

COLLATERAL

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

COMPLETION

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

CONVEYANCING

The legal process of transferring ownership of a property.

DISBURSEMENTS

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

EARLY REPAYMENT CHARGE

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

EQUITY

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

EXCHANGE OF CONTRACTS

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

FREEHOLD

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

GAZUMPING

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

GUARANTOR

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

HIGHER LENDING CHARGE

If you take out a large mortgage on a property, some lenders may charge a one-off extra fee. This funds an insurance policy that protects the lender (not you) from the additional risk.

LAND REGISTRY FEES

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

LEASEHOLD

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

LTV

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

LUMP-SUM

REDUCTION

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

REDEMPTION

Paying off your mortgage in full is known as redemption.

REPAYMENTS

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

STAMP DUTY

Stamp Duty is a shortened name for Stamp Duty Land Tax, also called SDLT. This is a Government tax you may have to pay when you purchase a new property. Your solicitor or conveyancer will organise the payment for you.

TITLE DEEDS

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

Shared ownership – the new & improved product

Shared ownership is a great option for first time buyers given the end of the Help to Buy scheme. Coralie Phelan, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, looks at what the changes to the shared ownership lease mean for first time buyers and the advantages of the scheme

BACKGROUND – WHAT IS SHARED OWNERSHIP?

Shared ownership allows you to buy a home through the shared ownership scheme if you meet the eligibility criteria. You buy a share of the property and pay rent on the part you do not own.

The eligibility requirements are as follows:

9 You must have a combined annual household income of under £80,000, or £90,000 in London

9 You must not own or part-own another property on completion

9 You cannot afford all of the deposit and mortgage payments for a home that meets your needs.

You will need to meet the affordability criteria, which the housing association will be able to advise you of, to be considered. You need to apply for a mortgage in just the same way as a mortgage would be required on an open market property purchase if you are not a cash buyer meeting the criteria. You will be required to purchase the maximum share you can afford. This will be assessed as part of the affordability and eligibility criteria assessment.

One advantage is a low deposit, as this could be 5% rather than the traditional 10% of the purchase price if agreed. Another advantage is the fact that your landlord will be under an obligation to act responsibly and ensure they only allow you to purchase the property if you can afford to keep up with the repayments on your mortgage and the rent you pay them and other associated outgoings. This is due to the scheme being Government backed with the associated reassurances that there are certain rules that your landlord must abide by.

WHAT WAS THE PREVIOUS SHARED OWNERSHIP PRODUCT?

In April 2021 the Government launched a new model shared ownership lease. This was launched under the Affordable Homes Programme 2021-2026. This new model

lease is quite different to the previous product. There are many advantages to the new model lease.

The housing associations should use the new model lease for homes that are Government funded on the 2016 to 2021 programme; however if you purchase a resale property, or a property funded prior to the new scheme, you may purchase under the terms of an older model lease. In that case the terms may be as follows:

9 You purchase between 25-75% share and pay rent on the remainder

9 You can purchase additional shares (known as staircasing) with a minimum 10% purchase, owning up to a maximum of 100%. Some leases restrict this to 80% but this is unusual

9 The minimum term is typically 125 years (sometimes 99 years)

9 Your landlord has eight weeks to nominate a buyer when you wish to sell

9 The price upon sale is set by your landlord’s valuation which is valid for eight weeks (exchange must take place within the eight-week period or you will need to apply for an extension or a new valuation).

Please note as per the comments later in this article this product will continue to be available for new builds constructed from pre-2021 funding and on resales.

SO WHAT HAS CHANGED?

Under the new shared ownership product, new build shared ownership properties are available for purchase with a lease granted on the following basis:

9 The initial minimum share is reduced from 25% to 10%

9 There is an option to staircase in 1% increments every year for the first 15 years that you own the home

9 Housing associations can no longer charge admin fees for staircasing and either party bears their own costs

9 There is a 10-year period in which the housing association is responsible for external repairs to the structure and building. These costs must not be passed on via service charges nor can the association draw on sinking funds to pay for the same. Leaseholders remain responsible for internal repairs

9 The lease granted must be for a minimum of 990 years (999 in London)

9 Underletting is permitted subject to the landlord’s consent, which is not to be unreasonably withheld

9 Changes to fundamental clauses include subletting being permitted, valuation being valid for 12 rather than eight weeks (houses) and Rent Review definitions now provide for notice of increase to be served prior to the review date

9 The shared ownership lease has been modernised and tidied up (such as allowing working from home in a home office or the ability to sublet in certain circumstances) to reflect changes in our society.

Please note the changes will not be retrospectively applied to shared ownership property previously sold or being sold on the previous model.

WHEN DOES THIS COME INTO EFFECT?

Shared ownership properties built under the Affordable Homes Programme 2021 to 2026 are obliged to use the new model lease. If the scheme is not grant funded (Government-backed using public funds) then the association may not use the new model lease. Some associations have adopted the new model lease voluntarily for properties grant funded pre-2021. If you opt to purchase a shared ownership resale (where a current owner bought through the scheme and sells on) it will no doubt be an older model lease.

We are seeing an increasing number of properties sold under the new shared ownership model.

WHAT IS RIGHT TO SHARED OWNERSHIP?

This is a scheme which is also part of the Government’s Affordable Homes Programme 2021 to 2026 and only applies to properties built for social and affordable rent.

You will need to be an eligible tenant renting an affordable or social rent property built under this Affordable Homes Programme 2021. If you are eligible you will be given a right to buy the property you rent on shared ownership terms under the terms

of the new shared ownership lease that was outlined above.

If you are unsure if you or your property is eligible, you should speak to your housing association landlord which will be able to assist you.

WHAT ELSE SHOULD I BE AWARE OF?

It is essential to understand that not all shared ownership properties will be grant funded. As a result, the housing association may not use the new model lease. The new model lease will not apply to resales until we see new property built pursuant to the Affordable Homes Programme 2021 being sold as resales. As the new model lease will not be used by every association for every scheme at present this could cause confusion for buyers in understanding the terms of the product they are buying. One downside is that when the model lease changed previously over time lenders considered the older model leases less desirable, and there is a possibility that we will see this happen again.

IS SHARED OWNERSHIP RIGHT FOR ME?

It is clear that the changes will be welcome to buyers and will make shared ownership an attractive option for those looking to purchase their first home. The changes allow first time buyers to save a lower deposit, introduce less costs, allow more options for staircasing and make the sales process fairer. However, on the flip side, housing associations have had to adapt to new procedures and working practices and new financial responsibilities. They will also need to roll out training to ensure all their staff are fully briefed on both old and new model leases so they can assist first time buyers on their journey. It also adds complication with more than one model lease running side by side.

With the end of the Help to Buy scheme, shared ownership, and in particular shared ownership pursuant to the new model lease, is a great option for first time buyers. Shared ownership is, generally, considered by most (including myself) as an excellent route into homeownership for those who may not otherwise be able to afford it. It is more important than ever to instruct a conveyancer specialising in shared ownership who can guide you through the process and explain the type of shared ownership product being purchased in detail and in plain English.

Prince Evans Solicitors LLP specialises in all aspects of shared ownership conveyancing including the new shared ownership model and would be happy to assist you in achieving your dream of homeownership.

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

CHECK WHICH SCHEME IS RIGHT FOR YOU!

With a range of Government schemes available to make buying a home more affordable, find out which scheme is right for you.

SHARED OWNERSHIP

If you can’t quite afford to buy 100% of a home, you could buy a share of a home instead and pay rent on the rest.

SHARED OWNERSHIP RESALES

If you can’t afford to buy a whole home, you could buy the same share of a home bought by its current owner when they used a shared ownership scheme.

HOME OWNERSHIP FOR PEOPLE WITH LONG-TERM DISABILITIES (HOLD)

If you have a long-term disability, the HOLD scheme in England could help you buy any home for sale on a shared ownership basis.

OLDER PEOPLE’S SHARED OWNERSHIP (OPSO)

If you’re aged 55 or over, the OPSO scheme could help you own up to 75% of any home that’s for sale on a shared ownership basis.

FIND OUT MORE

For a more detailed description of each scheme please visit ownyourhome.gov.uk

FIRST HOMES

A new scheme supporting local rst time buyers, including key workers, on to the property ladder by offering new build homes with at least a 30% discount compared to market prices.

RENT TO BUY/LONDON LIVING RENT

Rent to Buy gives tenants in England the chance to rent a home at Intermediate Rent, providing them with the opportunity to save for a deposit over time to purchase the home.

The scheme is available in England, apart from London. Properties in London are covered by a separate scheme called London Living Rent.

THE MORTGAGE GUARANTEE SCHEME

A UK-wide Government scheme to help to increase the supply of 5% deposit mortgages for credit-worthy households by supporting lenders to offer these products through a Government-backed guarantee

on new 95% mortgages.

RIGHT TO BUY

If you’re a council tenant in England, the Right to Buy scheme could help you buy the home you rent with a discount of up to £87,200 (£116,200 in London).

PRESERVED RIGHT TO BUY

If you’re a housing association tenant in England you could be eligible to buy the home you rent with a discount of up to £87,200 (£116,200 in London).

STAMP DUTY LAND TAX RELIEF

Stamp Duty Land Tax (SDLT) is a tax on property purchases. First time buyers pay a reduced rate of zero SDLT on the rst £425,000 and 5% on the amount between £425,001 and £625,000. No discount applies on homes over £625,000. The level of relief will be reduced from 1 April 2025.

HOMEBUYING PROVIDERS – OFFERING NEW BUILD SCHEMES, INCLUDING SHARED OWNERSHIP AND RENT TO BUY PROPERTIES

LONDON

Catalyst Housing catalyst.homes

0333 444 3500

Latimer myclarionhousing.com

Need to find number

Estuary Housing Association estuary.co.uk

0300 304 5000

Fabrica fabrica.co.uk

0800 783 2159

020 8825 1000

Gateway Housing Association gatewayhousing.org.uk

020 8709 4300

Guinness Partnership guinnesspartnership.com

0303 123 1890

Hexagon hexagon.org.uk

020 8778 6699

Home Group homegroup.org.uk

0345 141 4663

Hyde New Homes hydenewhomes.co.uk

0345 606 1221

Islington and Shoreditch Housing Association isha.co.uk

0300 131 7300

L&Q lqhomes.com

0300 456 9997

SO Resi soresi.co.uk

020 8607 0550

Newlon Living newlonliving.co.uk

0800 058 2544

Notting Hill Genesis nhgsales.com

020 3797 0295

Nu Living nuliving.co.uk

020 3151 3394

Octavia Housing octaviahousing.org.uk

020 8354 5500

Optivo optivo.org.uk

0800 012 1442

Origin Housing originhousing.org.uk

0300 323 0325

Paradigm Housing paradigmhousing.co.uk 0300 303 1010

Peabody peabodysales.co.uk

020 7021 4842

Places for People placesforpeople.co.uk

01772 667 049

Sanctuary London sanctuary-homes.co.uk

0800 916 1444

Site Sales site-sales.co.uk

020 8502 5758

Shepherd’s Bush Housing sbhg.co.uk

020 8996 4200

Southern Home Ownership shosales.co.uk

0300 555 2171

Swan Housing Association swan.org.uk

0300 303 2500

Wandle Housing Association wandle.com

0300 200 0120

SOUTH EAST

Accent Group accentgroup.org

0345 678 0555

Aster Group buyanasterhome.co.uk 01380 735 480

CHP chp.org.uk

0300 555 0500

CHS Group chsgroup.org.uk

0300 111 3555

Latimer myclarionhousing.com

020 7378 5638

Crown Simmons crownsimmons.org.uk

0300 303 1064

Estuary Housing Association estuary.co.uk

0300 304 5000

Fabrica fabrica.co.uk

020 8825 1000

Flagship Homes flagship-homes.co.uk

0808 169 9297

Guinness Partnership (South) guinnesspartnership.com

0303 123 1890

Hastoe Housing Association hastoe.com

0300 123 2250

Home Group homegroup.org.uk

0345 141 4663

Housing Solutions Group housingsolutions.co.uk 01628 543101

Hyde New Homes hydenewhomes.co.uk

0345 606 1221

L&Q

lqhomes.com

0300 456 9997

SO Resi soresi.co.uk

020 8607 0550

Moat

moat.co.uk

0300 323 0011

Notting Hill Genesis nhgsales.com

0333 000 4000

Nu Living nuliving.co.uk

020 3151 3394

One Housing Group onehousing.co.uk

0300 123 9966

Optivo optivo.org.uk

0800 012 1442

Origin Housing originhousing.org.uk

0300 323 0325

Orwell Housing Association orwell-housing.co.uk 0345 601 0030

PA Housing pahousing.co.uk

0300 123 2221

Paradigm Housing paradigmhousing.co.uk

0300 303 1010

Peabody peabodysales.co.uk

020 7021 4842

Places for People placesforpeople.co.uk

01772 667 049

Rosebery Housing Association rosebery.org.uk

01372 814 000

Sanctuary South East sanctuary-housing.co.uk

0800 131 3348

Soha Housing Soha.co.uk

01235 515 900

Southern Home Ownership shosales.co.uk

0300 555 2171

Sovereign Housing sovereignliving.org.uk

0300 500 0926

Stonewater stonewater.org

01202 319 119

Swan Housing Association

swan.org.uk

0300 303 2500

SO Resi soresi.co.uk

020 8607 0550

Town and Country Housing tchg.org.uk

01892 501 480

Worthing Homes worthing-homes.org.uk

01903 703100

SOUTH WEST

Aster Group buyanasterhome.co.uk

01380 735 480

Cornerstone Housing cornerstonehousing.net

01392 273 462

CURO curo-group.co.uk

01225 366 000

Elim Housing elimhousing.co.uk

01454 411 172

Green Square greensquaregroup.com

03001117000

Guinness Partnership (Hermitage) guinnesspartnership.com

0303 123 1890

Hastoe Housing Association hastoe.com

0300 123 2250

Places for People placesforpeople.co.uk

01772 667 049

Rooftop Housing Group rooftopgroup.org

01386420800

Sanctuary Southwest sanctuary-housing.co.uk

0800 131 3348

Sovereign Housing sovereign.org.uk

0300 500 0926

Stonewater stonewater.org

01202 319 119

Westward Housing westwardhousing.org.uk

0300 100 1010

MIDLANDS

Accent Group accentgroup.org

0345 678 0555

Green Square Accord greensquareaccord. org.uk

0300 111 7000

Acis Group acisgroup.co.uk

0800 027 2057

Bromford Group bromford.co.uk

0330 123 4034

Clarion Housing myclarionhousing.com/ sharedownership

03005008000

EMH emhhomes.org.uk

0300 123 6000

Long Hurst Group longhurst-group.org.uk

0300 123 1745

Home Group homegroup.org.uk

0345 141 4663

Guinness Partnership (Northern Counties) guinnesspartnership.com

0303 123 1890

Midland Heart midlandheart.org.uk

0345 602 0540

Muir Group muir.org.uk

0300 123 1222

Nottingham Community Housing Association ncha.org.uk

0800 013 8555

Orbit orbitcustomerhub.org.uk

0800 678 1221

Places for People placesforpeople.co.uk

01772 667 002

Riverside Housing Association riverside.org.uk

0345 155 9029

Rooftop Group rooftopgroup.org

01386420800

Sanctuary Midlands sanctuary-housing.co.uk

0800 131 3348

Homes Plus homesplus.co.uk

08000488955

NORTH WEST

Accent Group accentgroup.org

0345 678 0555

North Jigsaw Homes northjigsawhomes.org.uk

0300 111 1133

Arcon Housing Association arcon.org.uk

0161 214 4120

CDS Co-operatives cds.coop 0204 551 0080

Eden Housing Association edenha.org.uk

01768 861 400

Equity Housing equityhousing.co.uk

0300 123 4460

Guinness Partnership (Northern Counties) guinnesspartnership.com

0303 123 1890

Home Group homegroup.org.uk

0345 141 4663

Riverside Housing Riverside.org.uk 0344 873 6290

Irwell Valley Housing Association irwellvalley.co.uk

0300 561 1111

Knowsley Housing Trust k-h-t.org

0151 290 7000

Livv Housing Group livvhousingroup.com

0151 290 7000

Onward onward.co.uk

0300 555 0600

Muir Group muir.org.uk

0300 123 1222

Places for People placesforpeople.co.uk

01772 667 002

Progress Housing Group progressgroup.org.uk

0333 320 4555

Regenda Homes regenda.org.uk

0344 736 0066

Riverside Housing Association riverside.org.uk

0345 155 9029

Sanctuary North sanctuary-housing.co.uk

0800 131 3348

Your Housing Group yhghomes.co.uk

0845 163 4689

YORKS/ HUMBER

Accent Group accentgroup.org

0345 678 0555

Acis Group acisgroup.co.uk

0800 027 2057

Broadacres broadacres.org.uk

01609 767 900

Crucible Homes cruciblehomes.co.uk

0114 241 3433

Guinness Partnership (Northern Counties) guinnesspartnership.com

0303 123 1890

Home Group homegroup.org.uk

0345 141 1663

Leeds Federated Housing Association lfha.co.uk

0113 386 1000

Longhurst Group longhurst-group.org.uk

0300 123 1745

Manningham Housing Association manninghamhousing.co.uk

01274 771 144

Muir Group muir.org.uk

0300 123 1222

Places for People placesforpeople.co.uk

01772 667 002

Together Housing togetherhousing.co.uk

0845 077 0027

Sanctuary North sanctuary-housing.co.uk

0800 131 3348

Stonewater stonewater.org

01202 319 119

Wakefield and District Housing wdh.co.uk

0345 850 7507

Your Housing Group yhghomes.co.uk

0845 163 5008

NORTH EAST

Accent Group accentgroup.org

0345 678 0555

Bernicia bernicia.com

0344 800 3800

Castles and Coasts

castlesandcoasts.co.uk

0800 085 1171

Guinness Partnership (Northern Counties) guinnesspartnership.com

0303 123 1890

Home Group homegroup.org.uk

0345 141 1663

Karbon Homes

karbonhomes.co.uk

0808 164 0111

Places for People placesforpeople.co.uk

01772 667 002

Sanctuary North sanctuary-housing.co.uk

0800 131 3348

Thirteen thirteengroup.co.uk 0300 111 1000

1 issue £3.95 (Free P&P)

HOMEBUYING PROVIDERS – OFFERING NEW BUILD SCHEMES, INCLUDING SHARED OWNERSHIP AND RENT TO BUY PROPERTIES

20 QUESTIONS Abi Culley With

What room at home is your favourite?

It’s got to be our amazing dual-aspect “studio” with high sloped ceilings, which is a great side addition to the main part of the house. Over the past five years it has changed from a cinema room, to baby nursery and now a playroom for a busy four-year-old while still being a comfy place to relax and watch a film together.

What’s your favourite gadget or technology at home?

Probably our home safety system. When our son was younger we could remotely check into his room when needed, we can view cameras both internally and externally, and set an alarm via our phone. I regularly check to see what the dogs are up to when we are at work, but best of all I loved telling our son that Father Christmas was watching him last year!

What colour do you think everyone should have in their home?

Dark blues and grey-blues complement wood tones perfectly. Which three people would you invite over for a housewarming party if you could have any guests?

Adele to entertain everyone with her music and Tom Kerridge creating some amazing food for everyone to dig in and enjoy. Most importantly though, my best friend since I was five, who I only get to see a few times a year.

What’s your favourite memory from your childhood home?

I was fortunate to grow up in the North Norfolk countryside in a lovely home, secluded and with an amazing variety of pets. My favourite memory is of our Rayburn. While it could get very warm leaving it lit all year round, I did love how my pet chickens would let themselves through the dog door and settle down in front of it. What interior trend do you hate?

So many cushions on a sofa that you cannot physically sit on it!

Would you rather have a garden or a balcony?

Definitely a garden. It was so important to us in the first Covid lockdown, with glorious sunshine and a toddler at home we loved the fact that we had our outdoor space to keep him entertained and a space for us to relax.

Do you prefer modern homes or period properties?

I appreciate both. I grew up in a period red brick Norfolk barn conversion surrounded by fields, but having lived in Leeds since I was 18, I’m happy in a five-year-old home we bought as a new build. Would you rather have a library room or media room at home? Media room. I can't sit still for long enough to fully appreciate reading, but we love music and snuggling up to watch a film.

Abi Culley is Operations Director at LSL Land & New Homes, The PX Hub and The SO Hub. She has worked in homes sales, valuation, estate agency management and shared ownership. In 2017 she played a key role in the growth of The PX Hub, which manages the part-exchange of property for developers. In 2020, Abi was responsible for the start of The SO Hub (shared ownership), delivering volume sales and marketing to housing associations and registered providers nationally

Would you prefer a luxurious bathtub or a sumptuous shower?

A sumptuous shower is just more practical for every day. Would you rather live in the bustling city or in the country?

I loved growing up in the beautiful Norfolk countryside, it’s a lovely upbringing for children and a serene way of living, and I love the idea of moving to the country someday. On the other hand, I remember my poor parents driving me everywhere as we had no bus routes, I’m a city girl now, and being just on the outskirts gives me convenience but still open countryside within walking distance. If you were buying a property overseas, in what country would you buy a home?

That’s easy, Australia!

Would you rather have a bigger property or a better location? Better location. The most important factors for me are road networks, transport links and schooling.

What is one thing you couldn’t live without at home?

The dishwasher!

What’s your favourite way to unwind at home after work? Chatting to my son and my wife about their day and planning our next adventures.

What’s your favourite thing about your home?

Our home is special because it is the only place our son has known, and it’s so versatile, ready to adapt to us as we grow.

Where did you buy your first home?

Kirkstall in Leeds.

What advice would you give a first time buyer?

A good strategy is to write a list of your absolute non-negotiables and then have your nice-to-haves on the side and assess each home against them. Also, make sure you familiarise yourself with the area, visit at rush hours, tea time and the weekend to get a good idea of what it’s like. The whole experience can be an emotional rollercoaster so try to have a good sounding board of people who have bought a home before. If in doubt, go with your gut.

What are your views on shared ownership?

One of the businesses I am responsible for running is The SO Hub, so I have a huge passion for shared ownership and the springboard it gives people to full homeownership. In the current housing market, and with cost of living pressures, we are hearing more and more buyers say that shared ownership is now their only option to buy their own home, and ultimately, it’s often more affordable than renting. My first home was shared ownership and it allowed us to then move up the ladder once I started my career, so I have experienced first-hand how it can help homeownership aspirations. What are your views on the property market?

Things are slowing down from post-lockdown levels, but there is still a positive level of interest in properties and desire to move. The other business I am responsible for running, The PX Hub, is seeing the use of PX and Assisted Move schemes increase; with buyers having help to sell their homes, we expect that to continue. With the loss of Help to Buy we are seeing more buyers coming to the market for shared ownership at higher initial share levels. There is a desire for people to move but affordability is at the forefront of people’s minds.

lsllandandnewhomes.co.uk