First Time Buyer - August/September 2020

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY August/ September 2020 £3.95 firsttimebuyermag.com

WIN!

A GTECH CORDLESS GRASS TRIMMER WORTH £129.99

BREAKING NEWS STAMP DUTY HOLIDAY GREENER GRASS OF HOME

THE NEW NORMAL VIRTUAL VIEWINGS THE BEST APPS TO HELP YOU BUY YOUR DREAM HOME

“Think about compromise and don't limit your choice, but look at everything that is available and keep your mind open” Laurence Llewelyn-Bowen TV presenter & interior designer

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EDITOR’S LETTER

E D I T O R I A L – 020 7258 0036

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk Editor LYNDA CLARK lynda@firsttimebuyermag.co.uk Editorial Assistant DAWN HARKER Creative Director RYAN BEAL Sub Editor KAY HILL Social Media DAWN HARKER Contributors DEBBIE CLARK, ADAM CRAWFORD, MARILYN DICARA, DAWN HARKER, KAY HILL, JONNIE IRWIN, NICK MORREY, LAURA DEAN-OSGOOD, DONNA PILCHER, GINETTA VEDRICKAS, JOHN WEBB A D V E RT I S I N G – 020 7258 0036

Director of Advertising/Exhibition Sales

Welcome Just a couple of days before we went to press, the Chancellor of the Exchequer, Rishi Sunak, announced that there would be a Stamp Duty holiday until the end of March 2021. This means there is no tax to pay on properties up to £500,000, which is really great news for first time buyers. It is so nice to report some good news during these unprecedented times and from talking to many housing associations and developers, they have all been very busy and the market is still really buoyant. Virtual tours of developments have become the “new normal” and have worked very well, and now that life is getting back to “business as usual” you can now also visit showhomes under the Government guidelines. Do turn to page 42/43 to read more about how this works.

Large numbers of people have been working from home, leading many to reassess their priorities when looking for their first home. On pages 24/26 we look at how developers and local governments are responding.

I hope you all enjoy the rest of the summer and that you find this issue packed full of information and advice.

LYNDA CLARK

lynda@firsttimebuyermag.co.uk

Until next time, happy house hunting

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

Managing Director SARAH GARRETT sarahg@spmgroup.co.uk Public Relations RACHEL COLGAN rachel@building-relations.co.uk

firsttimebuyeronline

@firsttimebuyer

Accounts accounts@ultimateguidecompany.com

! NEWSFLASH !

Do watch our weekly webinars when our expert panel answer all your property related questions – go to facebook.com/firsttimebuyeronline

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EDITOR’S PICKS…

Think of your credit report as your financial CV – the first step is seeing where you stand

THE ULTIMATE GUIDE COMPANY LTD, 37 IVOR PLACE, LONDON NW1 6EA All advertising copy for October/November 2020 must be received before 4 September 2020.

Send all copy to: lynda@ firsttimebuyermag.co.uk The content of this publication, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior permission from the publishers. Opinions expressed in First Time Buyer magazine are not necessarily those of the publishers. © The Ultimate Guide Company Ltd 2008-2020. The Ultimate Guide Company Ltd t/a First Time Buyer magazine will take no responsibility for any loss/ claim resulting from a transaction with one of our advertisers/media partners.

It ticks all our boxes in terms of location, budget, size – and just about everything else! The openplan living areas seem huge Clare MacDonald, House hunter, page 16

It is advisable to really look at the location and decide what’s important to you At home with...Tiffany Norris, page 14

John Webb, Why your credit score matters, page 68

Shared ownership is an excellent way of buying a new home

I was renting a flat by myself, but quickly realised how much of a waste of money it was. I moved home and put the money I saved aside Matthew Taylor, Real Life, page 58

Trudy Quinn, 20 Questions, page 98

First Time Buyer August/September 2020

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CONTENTS

Cover Photo © Channel Seven

AUGUST/SEPTEMBER 2020 / ISSUE 84 / FIRSTTIMEBUYERMAG.CO.UK

What’s in…

58 59

Matthew Taylor moved back home to live with his mum so he could save to buy his first home. He never imagined he would manage to get his deposit together in just eight months, but thanks to shared ownership he purchased a one bedroom apartment in Lee-on-the-Solent through Radian Homes and couldn’t be happier!

HOMEPAGE

FEATURED

For sale

9 Words from Jonnie

20 The View: Laurence Llewelyn-Bowen

TV presenter and property expert Jonnie Irwin gives his views on the housing market.

11 FTB Loves…

A round up of our favourite hot buys.

12 Living Take inspiration from your favourite childhood sweets and use the lovely colour palette to create a pretty and fresh look to your interiors.

12

14 At home with… Tiffany Norris Tiffany runs the UKs first Mummy Concierge service, helping mothers and fathers prepare for parenthood.

She talks to Lynda Clark about how it all began, her search for her first home and gives some sound advice for first time buyers.

16 House hunter We try to find Clare MacDonald and Jaz Roshi a home in Chelmsford, Essex.

18 Developer’s doctor Alice Bolton, Sales Operations Manager at SiteSales, answers your property questions.

Laurence Llewelyn-Bowen has been a firm favourite since he was on the hugely popular BBC interior design show Changing Rooms. Known for his flamboyant style, he is working on some amazing projects around the world and now spends part of the year in Australia. He talks to Lynda Clark about his interesting career, his first home and gives some great advice to first time buyers.

24 The Future’s Bright ….

The Future’s Green The global coronavirus pandemic has had an impact on all our lives.

After spending months in lockdown, often working from home, many people have reassessed their lives and where they want to live.

Debbie Clark explores what first time buyers are looking for and how developers and local governments are responding.

24

32 Back to the Future What were property prices like 20 years ago? How much deposit did you need to buy your first home?

We compare the housing landscape in 1999 to what it is today and highlight some affordable homes to help get you on the ladder.

36 Come on, get ‘appy With the help of bankrate.com/uk we have complied a list of the best apps available for those looking to buy their first home.

4 First Time Buyer August/September 2020

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CONTENTS LAURENCE LLEWELYN-BOWEN, PAGE 20

DON’T BE FRIGHTENED ABOUT BEING DECISIVE AND TRUST IN 20 YOURSELF

Laurence Llewelyn-Bowen

42

Virtual Viewings We check out the latest way to view a new home without leaving your sofa.

REGULARS

78

Hill looks at the best buys and ask the experts about the future trends, especially when high loan-to-value products are likely to be available.

30 Hotspot Oxford We investigate Oxford as a place to live.

78 Market What is “the new normal”?

Ginetta Vedrickas looks at how the pandemic has affected the property market and what it means to first time buyers.

80 Agony Agent

71

Competition Win a GTech cordless grass trimmer worth £129.99.

All your property questions answered by our panel of experts.

72 First home, first meal

83 Buyer’s guide

Created by Samuel Groves, cookware and bakeware manufacturers for over 200 years, these mouthwatering recipes for white chocolate brownies and chocolate sauce are bound to be a hit with all the family. Summertime means spending days outdoors enjoying a picnic in the sun. We highlight some perfect options to enjoy al fresco eating at its best.

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

88 Guide to the legal aspects of shared ownership Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, explains who can legally help you buy your first home.

74 Mortgage Clinic

90 Directory

Nick Morrey, Mortgage Technical Manager at John Charcol, answers your financial related questions.

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

76 Finance

We ask 20 quick-fire questions to a property expert and in this issue Trudy Quinn, Head of Sales at Sage Housing, steps into the spotlight.

98 20 questions

With coronavirus hitting the world it is not surprising that the mortgage market is volatile at the moment. Kay

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LETTERS

Mailbox STAMP DUTY COSTS My partner and I are in the process of looking for our first home. We are both slightly confused about Stamp Duty and how much this will cost us. Is it something we will have to pay and is it the same for everyone?

Louise Darville FTB: There has just been some fantastic news about Stamp Duty. Until a few days ago, first time purchasers paid no Stamp Duty on homes under £300,000 and a reduced rate up to £500,000 but there was no discount on homes costing more.

From now until the end of March next year situation is even better, with no Stamp Duty payable at all on homes worth £500,000 or less, and a rate of 5% on the portion between £500,001 and £925,000. These rates apply to both first time buyers and home-movers, but those buying an additional or buy-to-let property will pay 3% Stamp Duty charge on top of these rates.

This issue’s star letter prize wins a Smidge natural chopping board, worth £26.99. Made from sustainably souced salvaged paper, its biodegradable formulations means no plastic or melamine is involved. It won’t blunt your knives and is dishwasher-proof too.

I have been doing some research as I am hoping to buy my first home soon. I am buying a small Victorian terraced house and the one issue I am not sure about is Local Authority Searches. Can you tell me what this involves and why it is necessary?

Lisa Mannering FTB: It is very important to get searches done on your home, as

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

First Time Buyer Letters, 37 Ivor Place, London NW1 6EA lynda@firsttimebuyermag.co.uk

HOMEBUYER REPORT After much deliberation, my wife and I have found our first property.

As we are first time buyers we are not completely sure of everything involved in the purchase process, but we know the house needs a bit of work done to it. Is it worth us getting a HomeBuyer Report done on the property or is this a waste of time if we are already getting a mortgage valuation? Although the property does need some work it does not seem to be in a bad condition.

Arjun Khan FTB: When buying any property, the onus is on you to ensure that there are no major defects. Lenders are only really interested in what the property is worth and not how secure it may be, and a HomeBuyer Report will tell you all you need to know about the state of the property. This will help you find out if there are any structural problems, such as subsidence or damp, as well as any other unwelcome hidden issues inside and outside, so you can therefore factor in potential costs of renovating.

You may also be able to negotiate a drop in price if these renovations will cost more than you first anticipated. Just because it looks fine from the outside does not mean that all is well. Do all you can to ensure that the property is structurally sound as it will benefit you in the long run.

RECOMMENDED BUT RIGHT?

wearesmidge.com

LOCAL AUTHORITY SEARCHES – ARE THEY REALLY NECESSARY?

WRITE TO US!

this will reveal if there are any planning issues that might affect your decision to buy the property.

There could be, for example, plans for a large supermarket or a new housing estate to be built nearby or a major new road being constructed, which could affect the amenities or the value of the home. The searches will also show whether your new home is properly serviced by underground drains.

Unfortunately you have to pay for searches to be carried out.

I am just about to start the process of buying my first home, which is very exciting, and I will soon need to get a solicitor involved. I have been doing some research online and have found that there are plenty of solicitors who can do this job for a much cheaper price than the one recommended to me by my estate agent. Do I have to use the firm of solicitors that my estate agent has recommended or am I free to look elsewhere?

Danny Miller FTB: The short answer to your question is NO, you definitely do not have to use the solicitors recommended to you by your estate agent. Lots of first time

buyers feel pressured into taking up these recommendations and as a result they end up paying more than they need to. My advice would always be to shop around and compare quotes to make sure that you are getting a good deal. Also be aware that a conveyancer does not have to be local and these jobs can be carried out from a distance. The main thing is that YOU are happy with who you are employing to do the work on your behalf and that you are satisfied that they will do this in your best interests.

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

First Time Buyer August/September 2020

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OPINION

WORLD

TV presenter and property expert Jonnie Irwin gives his thoughts and views on first time buyers and the housing market

As a boy I used to get excited at the thought of a nudist beach. Then I went to one. I remember on a recent trip to Sydney I did a beach walk which once again passed by a nudist beach. Instead of glimpsing people enjoying the feeling of being totally free of garments and becoming at one with nature, I was met with a line-up of men facing away from the beach towards the coastal path and appearing to me to be something that resembled a rogue’s gallery of ageing plucked turkeys. My pace gathered somewhat.

I was reminded of this last week when I was contacted by a gentleman from Budleigh Salterton in Devon which is a lovely coastal town, but after visiting there my first thought was “oh there’s a nudist beach there”. Perhaps I have a subconscious obsession.

The gentleman in question was concerned about the plight of many of our citizens who have suffered over the last few months because of their difficulty in being able to enjoy private open space during the pandemic. He wanted me to sign a petition to the Government for them to change the planning rules so that apartments would only get approved if they had balconies or dedicated outside space. A noble cause you might assume and I’m sure that it comes from a good place, but I worry that this might well have some issues attached.

Of course, a balcony is a great feature, but a north-facing balcony is of little use – especially in our climate. So, do we then restrict developments to apartments with south or west-facing

Photo © Mike Prior

balconies? Any form of restriction puts pressure on land values which of course in turn increases the price of the apartments – exactly what we don’t want for the first time buyer market. I’m not one for inviting governments to place draconian rules on to private developers but then I’m also no great fan of local planners and their often skewed interpretation of design and policy.

The market is so often influenced by demand, but when supply is so limited, especially in the shared ownership sector, buyers do need to stop and assess their own long-term objectives.

With those who were not essential workers or furloughed finding themselves suddenly working from home, it put unexpected pressure on their living space. I had a couple of Zoom calls with contacts who were even in their bathrooms in order to get some peace away from whomever they shared their home with.

Many firms have realised that their employees can indeed work remotely to great effect. In the long-term perhaps we may be able to assess the cost saving of daily transport and offset it against a larger or more suitable property that allows us to work from home.

Developers have already started to feature facilities within their developments to attract buyers, such as gyms, so maybe a move towards the provision of a communal workspace on site could become the norm. Within the requirements of social distancing of course.

Whatever happens, builders will surely endeavour to appeal to buyers in the new post-Covid-19 market, and those buyers in turn will vote with their wallets. As purchasers, the need to see past the shiny kitchens on offer has never been greater. Fast, reliable broadband is now an essential utility for working from home.

The ability for a property to be more flexible in terms of its living space configuration and the provision of breakout areas are likely to be close to the top of many buyers’ priorities.

You may remember reading in one of my first articles for this magazine that I spoke about trying to find a property that you would be happy to be stuck with. I think we can now change that to be happy to be “stuck in”!

First Time Buyer August/September 2020

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FTB LOVES

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

FRESH COAT

Valspar has launched its new range of furniture paints. These paints are perfect for transforming any old and tired furniture you have at home. Available in B&Q stores now, the Valspar furniture paint has an in-store colour matching service, meaning people will be able to choose from over 2.2 million colours. If this wasn’t enough, the new paint is a paint and primer in one, meaning you won’t need a finishing wax or lacquer. Touch dry within an hour and usable on most surfaces, you will be able to give a fresh lease of life to any furniture you have that needs an update.

750ml Valspar Furniture Paint, £21, B&Q diy.com

VY SLEEP A E H A O FALL INT llbeing Collection, Part of Silentnight’s new We luable sleep-aid. inva an is this weighted blanket causes of poor ing lead the are iety anx Stress and blanket comes d ghte wei this sleep, which is where ket hugs you into a in. Weighing 6.8kg, the blan d with undetectable Fille p. calming and restful slee are sewn into a soft weighted glass beads that rofibre cover, the glass mic and breathable quilted ally stitched pockets beads are housed within equ nt and for even eme mov to prevent noise and machine washable, is ket blan the , Plus . distribution a 12-month with es hypoallergenic and com tee. ran gua r ture manufac £59.99, Silentnight weighted blanket, Amazon amazon.co.uk

CACTUS POINT SCORING

Summer is all about spending time with friends and family – and what better way to get everyone outside than with some outdoor toys? We love this cheap and cheerful inflatable cactus game from Poundland. A colourful take on the hoopla from the school summer fetes of your childhood, it’s ideal for getting everyone from children to grandparents involved. Just inflate the rings and cactus, appoint a scorekeeper, and get the summer fun underway. It’s perfect fun for the whole family!

Inflatable cactus game, £5, Poundland poundland.co.uk

PERSONAL JOURNAL

The brainchild of 13-year-old Eva Younger, these customisable bullet journals are a must-have! Bullet journaling has consistently proven to be a positive tool for good mental health, but it is also a great way to express your creativity, while also keeping track of those things that are important to you. We love this journal from The Ink Pot, which is available in seven colours, as its thick pages won’t bleed no matter what ink you chose to use, and the pages come already dotted allowing you the freedom to design your journal however you wish. The useful back pocket is perfect for holding notes, plus each journal can be personalised with your initials.

Personalised bullet journal journal, £15, The Ink Pot theinkpot.biz

First Time Buyer August/September 2020

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Homepage LIVING

Pic k nn Mix

Do you remember the days of Pear Drops, Parma Violets and Love Hearts? Take inspiration from our favourite childhood sweets – whether you like soft mints and pastel pinks like bonbons, or you prefer the bolder black and yellow of Liquorice Allsorts, your home will look delectable Liquorice Allsorts pillow w, £16.23, Charley Zollinger on Redbubble

Adelaide white and yellow vase, £40, Habitat

Mixed square stools £97.50 each, Andrew Martin Lollipop doormat, £22, Red Candy

2.5L Rock Candy 3, £29.16, Dulux

2.5L Peppermint Candy, £29.16, Dulux

Twister kitchen sponge, £9, Red Candy

Letterpop mini jar candle, £4.95, Bombay Duck

Decorative cushions, from £10; face planter, £8; lady vase, £8; side table, £70; floor lamp, £80; drawers, £14; mirror, £25; nibble bowl, £7; gold table lamp, £45; white planter, £14; pink & gold planter, £22; rug, from £100, Matalan

Daytona blossom pink accent chair, £99, Cult Furniture

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Homepage LIVING

Light blue planter £25, planter, Debenhams

Children’s candy blast duvet set, £49, Cuckooland

le from £40; bird base tab Exotic bird duvet cover, Joe Browns 2, £2 n, hio cus r ula lamp, £55; velvet circ

Yellow Polaroid desk frame, £10.95, Wild & Wolf

Swizzels sweets reed diffuser, £1, Poundland

Orla Kiely sunflower storage jar, £28, Wild & Wolf

Tube line chopping board, £20, To Home From London

Mixed round stools £97.50 each, Andrew Martin

Pastel violet cups and saucers, £1 each, Poundland

Pastel pink and blue terrazzo wallpaper, from £29 per m2, Wallsauce

Lilac bud vase trio, £28, Mint & May

CONTACTS » Andrew Martin andrewmartin.co.uk » Bombay Duck bombayduck.com » Cuckooland cuckooland.com » Cult Furniture cultfurniture.com » Debenhams debenhams.com » Dulux dulux.co.uk » Habitat habitat.co.uk » Joe Browns joebrowns.co.uk » Matalan matalan.co.uk » Mint & May mintandmay.co.uk » Poundland poundland.co.uk » Redbubble redbubble.com » Red Candy redcandy.co.uk » To Home From London tohomefromlondon.com » Wallsauce wallsauce.com » Wild & Wolf wildandwolf.com

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Homepage LIVING

At home with:

Tiffany Norris

Tiffany Norris runs The Mummy Concierge, the first service of its kind in the UK, helping new mothers and fathers prepare for parenthood. In her own words, “Some of life’s events are momentous... I’m here to make them even more so.” She talks to Lynda Clark about how it all began, her search for her dream first home and gives some advice for first time buyers looking to get on the property ladder FTB: You are looking for your first home, tell us about your search?

TN: I have lived in London for years, in fact, I have lived in 11 different properties in London. I had my first little boy three years ago and decided that it was time my husband and I became real grown-ups and make a move to a place that would give us a better environment to bring up our son and also for us. It was a very big step but we decided we would like to move to the country where we could get more space, a bigger property and a better lifestyle. We drove around looking at all different places so we knew we had picked the right area, and when we discovered the Cotswolds we decided that was the place for us. As we have lived in so many different properties we wanted to buy our forever home and both of us have a very long list of what we want and what we don’t want! So, we have been house hunting for a while and so far nothing has been quite perfect. It has been a huge gamble as we don’t have any friends or family living in the area but we absolutely both know it’s where we want to buy and set up home.

FTB: Tell us about how Mummy Concierge started?

TN: When I was pregnant in 2016/17 I felt rather overwhelmed with the whole idea of parenthood. I had no idea about what baby equipment to buy, which hospital I should go to, which obstetrician I should see and was in quite a daze about it all. After I had my son, Rupert, I got chatting to the other mums who all told me they had felt exactly the same and the idea started from there. I have a marriage proposal planning business and thought the two went hand-in-hand, so I decided to launch The Mummy Concierge as there was nothing else out there like it. I designed my website and did a lot on social media and I had a great response. The requests were so varied, with everything from “where to go for a babymoon”, and

“I DECIDED TO LAUNCH THE MUMMY CONCIERGE AS THERE WAS NOTHING ELSE OUT THERE LIKE IT. I DESIGNED MY WEBSITE AND DID A LOT ON SOCIAL MEDIA AND I HAD A GREAT RESPONSE” 14 First Time Buyer August/September 2020

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Photos © Jonathan Self Photography

Homepage LIVING

“what pram should I buy?” to “I’m going on holiday for the first time with my baby, where should I go?” The business has grown so much and I even had to go to Dubai and kit out a beautiful villa there so it was completely ready for when the family arrived with the new baby. I had to organise everything from toys and stairgates to the nursery – it is like being a PA for parenthood. Many parents spend hours searching the internet with their questions and it can get very confusing, so that’s when I take over and I often meet the parents and help them. I organise all sorts of things like finding a maternity nurse, what to pack in their hospital bag and what to buy. I have become friends with many of my clients, which is so lovely.

FTB: What are your plans for the future?

TN: I am an expert at The Baby Show each year which I love and want to continue with.

I have also just secured the most exciting project – a book deal to be published next summer all about my job as a Mummy Concierge. I will have my work cut out as I have to write 72,000 words, plus carry on my business and look after the family too!

“AS WE HAVE LIVED IN SO MANY DIFFERENT PROPERTIES WE WANTED TO BUY OUR FOREVER HOME AND BOTH OF US HAVE A VERY LONG LIST OF WHAT WE WANT AND WHAT WE DON’T WANT!” FTB: You sound very busy – how do you organise your day?

TN: I have a super live-in nanny who works four days a week and I just couldn’t do without her. But I do love to spend one whole day with the children as I have also had another baby – a gorgeous little girl!

I always have loads of emails I need to deal with straightaway and I go to London to meet my clients as well, so it’s a juggling game!

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

TN: Most importantly, do your research.

My husband and I used to go to an area for the weekend and drive around to get a proper idea of what it was like. Actually we would stay in an Airbnb and turn it into

a fun weekend too. The Cotswolds is a big place and we thought we knew a village that would be perfect for us but actually when we got there it wasn’t at all what we expected or liked. So it is advisable to really look at the location and decide what is important to you. Schools? Station?

Outside space? Whatever is on your list you should be happy with. We think that we have the best of both worlds as my husband can commute to London every day yet we are surrounded by fields and nature and have a very good work/life balance, which everyone strives for. themummyconcierge.com Instagram: /MummyConciergeHQ tiffany@themummyconcierge.com

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Homepage FIRST RUNG

The

HOUSE HUNTER

What we found…

THE HISTORY LESSON St Osyth Priory St Osyth, Essex

FROM £199,950

THE FAMILY TIES Hanbury Place Broomfield, Essex

FROM £454,995

This month FTB goes on the hunt with Clare MacDonald and Jaz Roshi who are after a home with two or more bedrooms in or close to Chelmsford, Essex

PROFILE

Name Clare MacDonald, 34, Jaz Roshi, 36 Occupations Customer Service Manager, IT executive Maximum budget £450,000 Requirements A new home with two or more bedrooms, preferably in or close to Chelmsford – or within easy reach.

Good choice of shopping facilities and local amenities, along with plenty of places to visit and explore.

What they wanted…

We were both born and raised in Essex and we can’t see ourselves being anywhere else. We live and work in Chelmsford and have lots of family and friends in the area, as well as further out towards Colchester. We love that there’s so much variety in Essex – great shopping and nightlife, countryside and little villages, and of course there’s the gorgeous coastline. Ideally, we’d like our first home to be in or close to Chelmsford, but we’re also interested in seeing what we can get for our money elsewhere. If we moved further afield, our requirements would be that we can get to Chelmsford easily. We’ll also need parking, some outdoor space, local shops and some nice places to go out. We love hosting friends for dinner, so a nice space for entertaining is essential.

We have a deposit of £45,000, and an overall budget of around £450,000.”

16

Set within the grounds of St Osyth Priory, close to the north Essex coast, these stunning new homes offer a unique chance to become part of local history.

The properties range from one bedroom apartments to four bedroom detached family houses, all with a beautiful outlook. Inside, the homes are finished to a high specification, with fully integrated kitchens, underfloor heating and wood flooring. The rural village of St Osyth is just moments away, while sprawling beaches, wetlands and natural beauty are calling to be explored.

Located three miles from Chelmsford, these new family homes in Broomfield are perfectly positioned for making the most of city and country life. The pretty, detached properties feature well-equipped kitchens, separate dining room, and a light-filled living room that opens through French doors to a rear garden. Upstairs, there’s a family bathroom as well as an en suite from the master bedroom. Buzzing Chelmsford, and all it has to offer, can be reached in a short drive, while connections to London by train take just over 35 minutes.

cityandcountry.co.uk

countrysideproperties.com

What they thought…

This is a stunning location – right by the seaside and the amazing wetlands. I can imagine it’s a very peaceful place to live and I know that my brother would absolutely love to bring my nieces and nephews here for fresh air and playing. We’re really impressed with the style of the homes and love the crisp, fresh interiors – a great blank canvas for making our own. The homes are very cool and it’s a nice idea to be living in the grounds of such an historic building.”

We know Broomfield quite well as it’s not far from where I grew up. It’s a really pretty town and it’s extremely easy to get into Chelmsford from here, too, either by bus or on a bike.

These properties are just so spacious – I love the idea of the separate living and dining rooms. We would love hosting dinners and drinks – and I think we’d be having friends and family to stay all the time. Of course, it also means we have bedrooms at the ready if we have children.”

First Time Buyer August/September 2020

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Homepage FIRST RUNG

THE COASTAL RETREAT Hall Road Rochford, Essex

FROM £136,500*

THE KING OF CONVENIENCE Novello Chelmsford, Essex

FROM £254,995

First choice!

THE NEW COMMUNITY Beaulieu Oaks Broomfield, Essex

With the coast and Thames Estuary in easy reach, this collection of one bedroom maisonettes and two and three bedroom houses have been created in keeping with the glorious surrounding landscape.

The properties lie around a 20-minute walk from Rochford town centre, home to a range of pubs, cafes, shops and local services, while famous Southendon-Sea with its pier and beaches can be reached in around 10 minutes by car. Parks, open spaces, seaside towns and quaint villages all lie within easy reach.

The county town of Chelmsford sits within walking distance of this impressive new collection of one and two bedroom apartments.

As well as being conveniently positioned, the contemporary properties are beautifully finished, with oak flooring, bright and spacious living/dining areas, builtin storage, fully integrated kitchens and private balconies. A superb range of shops, eateries and other amenities can be easily reached on foot, along with the rail station for train travel to London in just 35 minutes. Residents also have access to private parking.

chp.org.uk

bellway.co.uk *Based on a 35% share of the full market value £390,000

We really like the look of these houses – the wooden cladding is pretty and certainly gives the feel of the seaside.

It’s actually a little further south than we had thought about looking, but it still seems like a really good option. It would be super fun to be able to visit Southend quickly, and the estuary is a unique and magical place for walks and runs. There are also some really nice little towns and villages, such as Leigh-on-Sea, that are perfect for laidback weekend shopping.”

Wow, these apartments really are close to the centre of Chelmsford. This is such a convenient location; a stone’s throw from the shops, gym and park – it’s a great option. We’d also be so close to work I could walk there, which means less time travelling. The apartments themselves are lovely – we love the contemporary feel, and all that natural light is just what we’re after. It’s so refreshing, as our current rented place is quite dark inside. This is just what we need!”

FROM £294,995

s, the ngs and great connection With peaceful surroundi worlds. h bot of t Oaks offer the bes new homes at Beaulieu sque ture pic the hin wit n created The properties have bee bedroom two from ge ran and , ace parkland of a Tudor pal a range of m family properties, in apartments to five bedroo n-plan ope ture fea porary homes styles. Inside, the contem erfloor und and ce spa age nty of stor living/dining areas, ple eneration forms part of a wider reg heating. Beaulieu Oaks 3,000 n tha eventually see more programme, which will station. y wa rail to a brand new properties created, close beaulieu.uk.com

THE NEXT STEP

“This development really does offer the best of both worlds and we’re really keen to make the steps to securing a home here. We have registered our interest and are planning a visit and day out with our parents who are always happy to offer us their words of wisdom!”

We really do like everything about Beaulieu Oaks. It ticks all our boxes in terms of location, budget, size – and just about everything else! What we’re really impressed with is that although it’s set in lovely, serene parkland it’s so easy to get into Chelmsford. It’s like picking a countryside escape without committing to a completely rural setting. The open-plan living areas seem huge and are perfect for entertaining. And we love the French doors to the back garden, where we can already imagine holding our first barbecue! The kitchens and bathrooms are super-sleek, and I know we’d be very proud and excited to entertain our friends and family here.”

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ADVICE

Alice Bolton joined SiteSales as Sales Operations Manager at the beginning of 2020. Her valuable experience at highly successful companies such as L&Q and Knight Frank has allowed her to make the transition into operations. Alice works closely with the Directors and Senior Sales Managers to secure the successful delivery of the programme, while overseeing all operational matters throughout the team

Q

I’ve read a lot of press reports about house prices falling in the coming months. I’m torn between renting or buying either a shared ownership or Help to Buy property. Please can you advise what might be the best to do.

A

Assuming you want a new build property then there is nothing wrong with renting from one of the specialist new build landlords out there while the post-Covid period plays itself out. You need to bear in mind that while private rented specialists provide some excellent bolton services such as concierge, communal lounges and in some cases leisure facilities (none of which will be in use at the moment), the product is likely to be expensive. Typically, in a Zone 4/5 London location you would pay between £1,700 and £1,900 per calendar month for a two bedroom, two bathroom apartment.

If purchasing is your preferred route you should consider both of the Governmentbacked schemes, namely shared ownership and Help to Buy. Your concerns over a price fall are valid, it is what many predict; however you should bear in mind that included within those predictions is a view that prices will bounce back quickly between the latter part of 2021 and 2022. So, assuming you are planning on being in your new home for two or three years minimum, you ought not worry about a short-term dip in values if you find the home you love at the right price-point.

Mortgage interest rates are also at an alltime low, so that will mean that either the Help to Buy or the shared ownership option would be cheaper on a monthly basis than if you chose to rent. So, from there on in it really depends on your appetite for risk in your property ownership as to what product you choose to buy with.

Shared ownership is a fantastic option.

You will only own a share of the property and so a fall in market value reduces that

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fall in monetary terms to you, and the same with price rises – you only gain by your share amount. You will also have to pay a rent on the amount that you do not own, which you can reduce at any time by purchasing a larger percentage with either cash or mortgage facilities.

The Help to Buy option is equally appealing and there is a lot more on offer.

There is also no feeling quite like owning the entirety of your home. If your view is to stay in the home for three to five years, then the security of having fixed a mortgage rate when the interest rates are

Alice Bolton, Sales Operations Manager, SiteSales

low will give you peace of mind without having to worry yourself with buying more percentage shares or paying rent on unowned shares etc.

Our sales team at SiteSales are always available to offer help and assistance if needed. We are selling for our valued clients on multiple schemes dealing in both shared ownership and Help to Buy, which we would be more than willing to discuss with you at your convenience over phone or video chat.

Do contact me at abolton@site-sales.co.uk site-sales.co.uk

Montmorency Park is a collection of more than 400 houses and apartments in New Southgate, and is perfect for anyone who loves London living combined with the best of local community life.

The tube is just five minutes away.

Arnos Grove station is on the Piccadilly Line, from there you can reach central London in 25 minutes. The New Southgate mainline station – also five minutes’ walk – lets you reach Moorgate in a similar time. Then there are the excellent road links – to the A406 and the M1 – so you can be up and out and on the road quickly and easily.

Montmoren cy Park, Sometimes it’s hard to believe that the world’s most exciting New South gate city is so close, but when you want to tap into its treasures, you can be at the heart of it all in no time.

However, it’s only when you close the door on your home at Montmorency Park that you discover everything it has to offer. From spacious layouts and the latest fixtures and fittings, to balconies or terraces and gardens to ground floor apartments. Every detail is designed to make you feel at home.

Beautiful modern kitchens make cooking a pleasure, while relaxing living spaces give you room to unwind and the communal open garden space provides a haven to enjoy.

A collection of one, two and three bedroom shared ownership apartments have recently launched, priced from £137,200 for a 40% minimum share of £343,000 full market value.

One, two and three bedroom apartments are also available through the Help to Buy scheme, priced from £345,000. montmorencypark.co.uk

First Time Buyer August/September June/July 2018 2020

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er I go

THE VIEW

A National Treasure

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THE VIEW

Laurence Llewelyn-Bowen rose to fame on the BBC’s interior design show Changing Rooms, which was television's original makeover show, watched by over 10 million viewers at its peak. He is renowned for his own particular flamboyant style and is as busy now as he ever was. He talks to Lynda Clark about his fascinating life, his first home and gives some great advice for first time buyers Photos Channel Seven

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THE VIEW

S

peaking to Laurence on the phone I am immediately impressed by his voice – it is rather distinctive and extremely easy to listen to. He starts by telling me he has just come in from the garden of his beautiful 17th century manor house in the Cotswolds, where he was playing with his little grandson Albion, and what a wonderful time they were having together. “He brings me great joy but it is also good to speak to somebody who hasn’t got my DNA!” referring to the current lockdown situation. Laurence has been holed up at home together with his wife Jackie, daughter Cecile and her husband and his other daughter Hermione and her fiance and, of course, Albion.

Over the years Laurence has designed and worked on some pretty amazing projects but it seems he was not always destined to become an interior designer.

“I went to Alleyns School in Dulwich and I was never particularly interested in anything artistic. I enjoyed all the academic subjects like history, English and Latin and I really never saw myself as creative at all.

Then when I finished taking my O-levels something happened and I completely changed my mind and ended up going to the Camberwell School of Art for four years and did a degree in Fine Art. "It was very classically oriented, so we did things like copy plaster casts, but it was very good and I thoroughly enjoyed it. I have always been very business-minded and eventually I decided to use my business skills and joined the marketing department of a rubber flooring company. It was great, and we made the flooring for some iconic places like The Long Room at the House of Lords and also the Albert Hall, and that original floor is still there to this day.”

He met his future wife Jackie and they

married in 1989. “We made and still make the perfect partnership. Jackie was very wellconnected and ran a party planning business so her contact book was bursting – it was the Little Black Book of its time – and with her help I decided to start my own interior design business. She introduced me to a lot of people and I grew the business and did some pretty high-profile work as well as working on other things. It was the era of the wine bar and there was hardly a bar in town that I didn’t paint a cherub on the ceiling! I worked on some amazing projects and did everything from giving a space some James Bond glamour to working for royalty.

"It was a huge privilege to work for the late Carl Toms OBE who was great friends with The Earl of Snowdon and designed the famous kaftans worn by Princess Margaret.

I worked with him at the Richmond Theatre where the foyer ceiling was painted by me and I also painted my famous cherubs on the safety curtain! It was Jackie who actually got me into TV as she had done some television work but took a year off while she wrote Debrett’s Wedding Guide: The Planning and Etiquette of a Modern Wedding. Her agent called and said the BBC were looking for an interior designer to do a screen test for a new programme. I really wasn’t keen and sort of got bullied into going. When I got there they asked me to makeover an IKEA cabinet which was very dull to do but the producer called the next day and said, “For somebody who wears velvet, is haughty and wants to do their own thing, you are perfect.” So that is how I got to be on Changing Rooms which was the start of my television career.”

Since then, Laurence has been on numerous TV shows, which have been highly successful. He is a Senior Judge of Australia’s House Rules on Channel Seven.

"IT WAS VERY ELEGANT WITH A HUGE LIVING AREA BUT A MINUTE KITCHEN AND RATHER UNUSUALLY IT HAD TWO HALLWAYS. IT WAS A GREAT PLACE TO LIVE. I NOW LIVE IN A VERY BEAUTIFUL PART OF THE COUNTRY, IN THE COTSWOLDS, AND WE ARE LUCKY ENOUGH TO HAVE PLENTY OF SPACE FOR THE WHOLE FAMILY. SO DURING THESE UNPRECEDENTED TIMES IT HAS WORKED OUT VERY WELL INDEED – IN FACT IT'S BEEN A SORT OF TIMELESS EXPERIENCE"

He is also on The Apartment which is Asia’s most watched makeover show with 134 million viewers and on My Lottery Dream Home International for HGTV. “I travel extensively and I pretty much commute to Australia between October and June and I have been doing that for seven years. Then in the late summer I go to Asia. It’s quite tough having to travel so much but I love it and it’s become a way of life now.

"I have also started working for a series called Instant Hotel for Channel Seven in Australia which involves me travelling all over Oz. I still have my interior design business and I also have my ranges of wallpaper, curtains and accessories, which I design for other companies like TK Maxx.

I am designing a range called Cotswold Garden which is inspired by the time at home in my own garden and is rather Tudorish in style. It’s very different from last season when I was interested in the Nile with lots of palm trees.”

While he has been spending so much time at home during the lockdown, Laurence has been working hard and has launched his brand new YouTube channel, School of Flock, which features short but very informative educational videos about the history, culture and alchemy of interior design. “It’s great fun and opens like something from the first scene of The Rocky Horror Picture Show with a middle aged gentleman, which is me of course, dressed in my usual manner, sitting in my library. It’s fascinating to delve into the past and they are like personal essays giving the backstory from some of our greatest eras like art deco or gothic. I want to educate and empower the audience so they know what they like and can understand different styles and they can use it to reflect their personality and their own interior space.”

Laurence and Jackie bought their first 1930s mansion apartment in Streatham when they got married over 30 years ago.

“It was very elegant with a huge living area but a minute kitchen and, rather unusually, it had two hallways. It was a great place to live. I now live in a very beautiful part of the country, in the Cotswolds and we are lucky enough to have plenty of space for the whole family. So during these unprecedented times it has worked out very well indeed – in fact it's been a sort of timeless experience.”

Laurence has been helping his daughter Hermione and her fiance to look for their first home together and has some great advice. “There is a big focus on buying a home and only living there for a couple of years, but you should fall in love with your home and ask if you really do see yourself living there for a long time. Things can change and you might be living there for a lot longer than you first imagined.

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THE VIEW

Photo © Steve Thorp

"THERE IS A BIG FOCUS ON BUYING A HOME AND ONLY LIVING THERE FOR A COUPLE OF YEARS, BUT YOU SHOULD FALL IN LOVE WITH YOUR HOME AND ASK IF YOU REALLY DO SEE YOURSELF LIVING THERE FOR A LONG TIME. THINGS CAN CHANGE AND YOU MIGHT BE LIVING THERE FOR A LOT LONGER THAN YOU FIRST IMAGINED"

Be creative when you look at a property – Jackie has a marvellous eye and knows immediately if a place would work or not.

"I also think you should not have a very rigid list and think about compromise. Don’t limit your choice but look at everything that’s available and keep your mind open to other options. There is such a choice nowadays as there are some great conversions too like pubs, offices and

police stations – just keep your mind open.

I was away filming in India when Jackie viewed the house we live in now, which is a Georgian Rectory and she called me and said she really loved it. I knew she would make the right decision and told her if she loved it, I would love it. She went ahead and bought it and got a really great deal.

So don’t be frightened about being decisive and trust in yourself."

Laurence is truly exceptional in every way – from starting out on Changing Rooms all those years ago he has gone from strength to strength and the only thing not to have altered is his flamboyant fashion sense and a true passion for interiors. We are bound to see a lot more of Laurence in the future – I can place a bet on that! llb.co.uk

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MARKET

THE FUTURE’S BRIGHT… THE FUTURE’S GREEN Coronavirus has impacted all areas of our lives in the UK, in some cases beyond recognition, and as the country begins to recover from this unprecedented global pandemic it is with guarded optimism that we look towards the future. Months in lockdown have, unsurprisingly, prompted many Brits to reassess their priorities when looking for a new home.

Debbie Clark explores what buyers are looking for from their new homes and lifestyles, and how developers and local government are responding to these demands The RICS UK Residential Market Survey, May 2020, revealed an expectation that there will be fundamental changes in what makes for an attractive property over the next two years. Contributors were asked for their views on potential shifts in the desirability of certain features of properties over that period, owing to recent events.

Based on their interactions with buyers, 81% of respondents felt that there will be an increase in desire for properties with gardens or balconies and 74% predict an increase in demand towards homes located near green spaces. Properties located in highly urban areas will be less enticing, according to 58%, but, interestingly, the majority expect homes located near transport hubs to remain highly desirable.

Simon Rubinsohn, RICS Chief Economist commented, “…there are already signs that those looking to buy a house are responding to the conditions created by the pandemic by seeking out properties with gardens or balconies and nearer green space. These and other similar features are likely to increasingly command a premium over higher density urban locations...”

Buyers may also be drawn away from big towns and cities to be able to get more square footage for their budget. Those who have been making do, conducting Zoom calls from a desk crammed into their bedroom,

will no doubt be looking for an extra bedroom or study space if the expectation to work from home becomes part of our societal norms.

As we adjust to our new normal we all want to make sure that we feel safe in our surroundings, and with the phrase "social distancing" now firmly in our vernacular, space has become synonymous with safety.

For those for whom city living retains its appeal, the great news is that health and wellbeing initiatives are already at the forefront of developers' minds; in response to environmentally friendly and mental health priorities in recent years we have seen a growing trend for large communal spaces, atriums and walkways.

Across the country, cities have quickly adapted to ensure their residents’ safety.

London Mayor Sadiq Khan recognised this need and at the beginning of May announced the Streetspace for London plan.

His vision was to create more space on the streets so people can walk or cycle while social distancing. TfL worked with London boroughs and identified three key areas: • Quickly building a strategic cycling network to help reduce crowding on the tube and trains and on busy bus routes • Changing town centres so local journeys can be safely walked and cycled where possible, for example with wider

pavements on high streets • Reducing traffic on residential streets, creating low-traffic corridors across London so more people can walk and cycle as part of their daily routine It is expected that some of the temporary changes made could become permanent.

Sadiq Khan said, “The capacity of our public transport will be dramatically reduced post-coronavirus as a result of the huge challenges we face around social distancing.

Everyone who can work from home must continue to do so for some time to come.

"The emergency measures included in our major strategic London Streetspace programme will help those who have to travel to work by fast-tracking the transformation of streets across our city.

Many Londoners have rediscovered the joys of walking and cycling during lockdown and, by quickly and cheaply widening pavements, creating temporary cycle lanes and closing roads to through traffic we will enable millions more people to change the way they get around our city.”

Whatever the future brings, one positive many first time buyers can take from 2020 is an increased sense of clarity over what they are looking for from their future home; a great foundation from which to begin the hunt for your first property.

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MARKET

ON THE MARKET

WEMBLEY

CASE STUDY

FROM £322,500

The Rise, Alperton The Rise is a collection of one, two and three bedroom apartments close to the revitalised Grand Union Canal, with easy access for pedestrians and cyclists to open spaces and waterside facilities. Brent Council’s regeneration project focuses around Alperton underground station, which is just a five-minute walk from The Rise. Newly created pathways are set to connect communities with modern facilities, such as shops, a doctor’s surgery, a learning centre and places to both work and socialise. Two and three bedroom apartments include allocated parking and there is also a car club on site. therise.london 020 8607 0550

RAINHAM

FROM £285,000

Beam Park

Delivered by Countryside and L&Q, Beam Park is a 3,000-home regeneration scheme, transforming the derelict site of a former Ford manufacturing plant into a new and vibrant destination, across 29 hectares. Properties range from one bedroom apartments to four bedroom houses. The development will also deliver extensive community facilities. An impressive 44% of Beam Park has been allocated for publicly accessible green space, which includes a three-hectare central park in the heart of the development, with the River Beam running through it. beampark.com 020 3733 1592

When newlywed graphic designers Stella, 29, and Jakob, 30, decided to buy their first home, the top priority was finding a property with enough space that they could both work from home. They were keen to stay in London where high prices can mean big compromises.

However, thanks to shared ownership, the couple were able to put down a deposit of £20,000 (higher than the 10% required) and purchase a 25% share of their two bedroom apartment for £131,250 (full market price £525,000). Jakob says, “Our monthly outgoings are only £30 more than when we were privately renting a one bedroom apartment for £1,600 – which was money down the drain. The space is much bigger, far better quality and it’s given us a start on the property ladder. It’s definitely great value.”

The couple also found the process remarkably quick. Jakob reports, “From visiting SO Resi Brixton for the first time, to moving in to our new home, it took only two months and the buying process was very straightforward…

I’d definitely recommend shared ownership to young couples like us – it’s an easy way to get on the property ladder with the flexibility to buy more of your home in future.” The couple now have the space they so desperately craved when living in their cramped rented accommodation. Stella explains, “The second bedroom gives us flexibility and we have much more living space and also a balcony. We’ve divided the living space into areas for working and relaxing, which makes it easier to keep tidy and life a lot calmer.”

SO Resi Brixton is set in landscaped gardens in a quiet residential area, five minutes’ walk from Brixton’s vibrant centre. It is also close to Brixton’s popular Brockwell Park where Stella and Jakob often enjoy a game of frisbee.

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MARKET

FROM £399,950

COLINDALE

Fairbank Apartments, Beaufort Park From Beaufort Place in Colindale, north west London, it takes just 25 minutes to central London via the nearby Northern Line tube station.

The Help to Buy homes are located within Fairbank Apartments, a collection of studio, Manhattan (this has a sliding door mechanism that provides the option to separate off the bedroom area from the living space), one, two and three bedroom apartments, comprising spacious, light-filled living areas. Each home offers contemporary interiors including custom-designed fitted kitchens with integrated Smeg appliances and a private terrace or balcony.

Residents of Beaufort Park have access to a 24-hour concierge service, a spa including a gym and swimming pool, eight acres of beautiful landscaped parkland and courtyards and a range of on-site amenities for business and meetings.

FROM £99,875*

HARROW

No. 19, High Street Wealdstone No.19 is a new development of six one and two bedroom apartments in the heart of Harrow, each offering luxury modern living with high specification finishes and a secluded outdoor area in the form of a walk-out balcony. The area offers residents easy access to green spaces, including Canons Park and Bentley Priory. With dozens of residential developments being created, together with civic buildings, parks and recreational facilities, Harrow is set for a transformation over the coming years. The development is ideal for commuters with Harrow and Wealdstone station just a two-minute walk from the new homes. originsales.co.uk/high-street-wealdstone 0300 323 0325 *Based on a 25% share of the full market value of £399,500

beaufortpark.co.uk 020 8003 1273

MILTON KEYNES Saxon Reach

SOUTH HARROW Six at Echo

FROM £79,988*

A stylish new development of 116 homes, delivered by Hill and Origin Housing, Six at Echo offers a collection of one and two bedroom apartments just a two-minute walk from South Harrow tube station.

High-quality interiors with open-plan living are complemented by secluded outdoor spaces in the form of a private balcony or terrace.

The development also includes a shared south-west facing podium garden and there are an impressive 10 parks and open green spaces within a mile. All apartments benefit from underground secure bicycle storage, with a few apartments also offering underground parking and dedicated electric charging points. originsales.co.uk/six-at-echo 0300 323 0325

FROM £365,000

Committed to becoming the first carbon negative UK city by 2050, and recently listed as the top city for access to public parks and gardens, Milton Keynes is renowned for its abundance of parkland and green space. Helping meet demand for housing in the countryside town of Milton Keynes, L&Q is offering a collection of 225 one to five bedroom homes at its new development, Saxon Reach, with three and four bedroom houses currently available.

Most homes come with turfed lawns, a garden shed and paved areas, and front gardens with plants and trees to complement the leafy surroundings. With working from home becoming increasingly common, the garden sheds can be used as a home office. The stylish homes feature Nobilia kitchens complete with integrated appliances and the majority of master bedrooms will have an en suite.

Saxon Reach is part of the wider Glebe Farm development area and will offer new retail and commercial facilities plus two new schools and an extension of the Milton Keynes Redway system – a 200-mile network of shared-use paths for cyclists and pedestrians. bit.ly/LQHomesSaxonReachGS 01908 031 197

*Based on a 25% share of the full market value of £319,950

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LOCATION

HOTspot Oxford

5 REASONS WE LOVE…OXFORD

1. Elegant architecture 2. Picnics by punt 3. Glorious surrounding countryside 4. Outstanding schools 5. Great transport links

Famous for its stunning spires and ancient colleges, Oxford is one of the UK's most cosmopolitan cities with a host of eateries, shops and riverside pubs. It's also surrounded by beautiful countryside and is a commuters' paradise – who could ask for more?

UNDER THE SPOTLIGHT

Oxford is globally famed for its prestigious university; the oldest surviving in the Englishspeaking world. In his poem Thyrsis, Victorian poet Matthew Arnold called Oxford the "City of dreaming spires", in reference to the glorious and diverse architecture of its many colleges and ecclesiastical buildings. However, despite its international significance and proximity to London, (which is less than an hour away by train), the city of Oxford has contained its urban sprawl and doesn’t even make it on to the list of the 50 largest cities in the UK. The adage "the best things come in small packages" has never been more true than when used to describe the county town of Oxfordshire, which is packed with history, culture and worldleading research and commerce, despite being within easy reach of beautiful countryside on all sides and enjoying abundant green spaces and public gardens. A standing joke among Oxonians is that you can cross the entire city in 20 minutes, on foot, without really knowing how it happened!

Parking in central Oxford is notoriously difficult and expensive, but the city has an excellent, integrated public transport system, with a smartcard available to reduce costs.

As well as many bus and coach routes, and the main Oxford Railway Station offering fast services to London Paddington and several cross-country destinations, a second train station, Oxford Parkway, opened in October

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2015. It was the first new link to run from a major British city to London in more than 100 years. It's situated at one of Oxford’s five Park & Rides, and provides regular services to London Marylebone, via the famous designer outlet centre of Bicester Village. Oxford is also within easy travelling distance of several major airports, with Heathrow being on the nearside of London.

Combined with its fine examples of architecture from practically every period, Oxford’s central location just 56 miles north west of London and 64 miles from Birmingham, makes it highly sought after. Unsurprisingly, this means that house prices and the cost of living are significantly above the national average.

However, better news is that Oxford was identified as a key buyers’ market (alongside London and Brighton), in a pre-lockdown report by data consultancy Hometrack, whose methodology is to compare the asking prices of homes with the amount for which they actually sold. While prices in some parts of the city have risen by a staggering 150% in the past five years according to the Land Registry, overall, Oxford properties are currently selling for an average of £17,956 below their asking price.

OUT AND ABOUT As Oxford is one of the world’s leading tourist destinations, it’s impossible to cram everything it has to offer visitors and residents on to a single page.

However, highlights obviously include the extraordinary academia that sees students flock to its historic colleges and outstanding local schools. The University of Oxford can lay claim to 28 British Prime Ministers, at least 30 international leaders, 55 Nobel Prize winners, and 120 Olympic medal winners among its former students and staff, and the city is also home to ground-breaking teaching hospitals and science parks.

Oxford also boasts a rich cultural life.

This includes museums and galleries such as Pitt Rivers, The Ashmolean and Oxford Museum of Modern Art, as well as libraries like the Bodleian which are full of precious manuscripts. There is a lively music and theatre scene, from internationally acclaimed performers visiting the New Theatre and Oxford Playhouse, to new musical talent in the city’s seemingly endless pubs and independent art spaces.

Oxford was first settled by the AngloSaxons and was initially known as Oxenaforda, meaning "ford of the oxen", thanks to the stillness of the River Isis, (the local name for the Thames) as it passes through the city. Modern day Oxford still takes advantage of its famous waterway, with punting and rowing being two of the more popular pastimes and drinks at one of the many picturesque riverside inns is the perfect way to while away a lazy Sunday.

(Watch Inspector Morse for inspiration!)

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LOCATION

FA C T F I L E

Average property price in Oxford (March 2020) – £395,745 Property breakdown* Detached – £785,439 Semi-detached – £495,354 Terraced – £387,477 Flat – £264,118 *According to the Land Registry House Price Index March 2020

FA M O U S R E S I D E N T S • Stephen Hawking • Miriam Margolyes • Yasmin Le Bon • Tim Henman • Hugh Laurie

Oxford has an enviable array of restaurants and cafes. The offering in the city centre is supplemented by stylish enclaves such as The Cowley Road to the east, which is renowned for award-winning curry houses and a trendy tapas bar set in a converted chemist, serving food that Time Out described as “sensational”.

Summertown, to the north, boasts a further array of interesting eateries, On top of all its other attractions, Oxford is also a shopper’s paradise, with streets of major brands and independent retailers radiating from the central crossroads known as "Carfax". There are two large shopping malls; the Clarendon Centre and the newly regenerated Westgate Centre, and a charming covered market that is Oxford’s Dickensian version of a souk, with its quirky shops and crisscrossing passageways.

HOMES ON THE MARKET...

WOLVERCOTE Wolvercote Mill

FROM £111,857*

An extension of the popular village of Wolvercote, Wolvercote Mill is a collection of three bedroom shared ownership apartments, and three bedroom houses.

Homes feature high-quality finishes with integrated kitchen appliances, carpeting, and turfed gardens. Ticking the box for traditional village living, Wolvercote offers an excellent selection of schools, expansive woodlands, and popular independent pubs.

Just over three miles away, Oxford station offers services to Reading and London Paddington in under an hour, and London Marylebone in 63 minutes. Cycle routes between Wolvercote and Oxford make it easy for residents to live an active, green lifestyle. catalyst.homes *Based on a 25% share with a full market value of £447,500

TEMPLE COWLEY, OXFORD Spires Place

FROM £127,500*

Spires Place in Temple Cowley offers a route on to the property ladder with a selection of well-designed three bedroom houses. The three-storey homes provide the space necessary for modern family living, with a spacious kitchen, dining and family area, plus a study and WC on the ground floor, a living room, bedroom three and family bathroom on the first floor and the master bedroom with en suite plus bedroom two on the top floor. The village of Temple Cowley is perfect for fans of green living, with a number of parks, outdoor spaces and cycle routes into Oxford city centre. Oxford station is close by and offers an easy commute, taking just over an hour to get to central London. catalyst.homes *Based on a 25% share with a full market value of £510,000

LITTLEMORE

Newman Place

FROM £TBC

Blackbird Leys is a £100.6m scheme

by Catalyst Housing and Oxford City Council which is still in its early planning stages but will see around 275 new build homes, with around 151 for social rent, 62 for shared ownership and just 74 for market sale. The new development, just outside the city of Oxford, will feature a new community centre, shops and improved green and public spaces for residents to enjoy. Although in its early stages it is definitely worth keeping an eye out for future developments.

Newman Place offers a selection of one to four bedroom houses and apartments launching later this year in the village of Littlemore. Located in a designated conservation area, the village maintains a strong sense of community, centred around lush green spaces. For convenient weekday commutes or weekend day trips into the countryside, Oxford has fantastic road and rail links. Oxford train station is served by Chiltern Railways and Great Western Railway, connecting residents to London Paddington in less than hour. For family days out, both the Chiltern Hills and the Cotswolds are within easy reach.

chg.org.uk

catalyst.homes

WAT C H T H I S SPA C E

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THEN & NOW

Getting on the property ladder today can be quite a struggle, with a few hurdles to jump before you actually buy your first home. But just how different is it to older generations becoming first time buyers? We look at the statistics and highlight some affordable options to help turn your dreams into reality The team at Coulters Property has looked into the housing landscape for first time buyers to discover how much you would need to save up to be able to afford a 10% deposit around the country, how much this is as a percentage of average annual income, and how these figures have changed over the past 20 years.

HOW HAS HOUSING AFFORDABILITY CHANGED IN THE UK? • In 1999, the average house price in the UK was just £77,961. Fast forward 20 years and that figure has almost trebled, to £230,735.

• At the same time, the average income has also increased, but only from £17,803 a year to £30,353, an increase of 70%.

• In 1999, a 10% deposit would have worked out at about 43.8% of your annual salary, these days, that figure has risen by about three quarters to 76%.

It’s perhaps not surprising to see that the biggest shift has occurred in London, where

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FIRST TIME BUYER LANDSCAPE IN UK (1999/2020) 1999

2020

Difference £

Difference %

House Price

£77,961

£232,401

£154,439.42

198.10%

Deposit

£7,796

£23,240

£15,444

198.10%

Earnings

£17,803

£30,353*

£12,550

70.49%

Deposit % Earnings

43.8%

76%

average house prices have increased at an extraordinary rate of 307%, from £115,686 to £471,311. Prices have also risen more sharply in other southern regions, such as the South East and East of England.

Although earnings have also increased during this time, they haven’t risen at the same pace as house prices. For example, in London, where house prices have quadrupled, the median salary has only increased by about three quarters, from £22,487 to £38,992. The change in income has been relatively similar around the UK, despite the fact that the change in the cost

32.20%

of buying a property looks very different around the country. coultersproperty.co.uk/first-time-buyerchanges House prices sourced from the Land Registry’s UK House Price Index, taking an average for each calendar year.

Average deposit amount calculated assuming the buyer is placing a deposit of 10% of the value of the property.

Median annual earnings for full-time employees taken from Table 12 of the Annual Survey of Hours and Earnings Time Series of Selected Estimates.

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THEN & NOW

CASE STUDY

Tilbury Lodge is a collection of one, two and three bedroom apartments just a 10-minute walk from South Croydon station. Designed for flexible living, apartments feature spacious, open-plan living areas and kitchens are equipped with integrated Siemens and Zanussi appliances. Master bedrooms feature fitted wardrobes and an en-suite bathroom can be found in the two and three bedroom apartments. Most apartments also offer outdoor space in the form of a terrace or balcony, and private allocated parking. The development is just a short drive from central Croydon, where residents will find an array of shops, bars, restaurants and pubs, while if you enjoy the great outdoors there are many green spaces nearby including Selsdon Wood Nature reserve. South Croydon station is a 10-minute walk away, with connections to London Bridge and London Victoria in less than half an hour.

Doctors Abhay Singh, 36, and Shalini Singh, 32, had been renting a one bedroom apartment in Oxford until three days into lockdown when they moved into their new three bedroom house in Bellway’s Renaissance scheme in Reading The couple had been saving for their deposit for a home for three to four years.

Abhay said, “We saved for our deposit by being careful with our money and not being extravagant. For example, we would only go out for dinner once a week and not choose an expensive restaurant. Over the course of three to four years this pot of money crept up until we eventually had enough to buy our fabulous new home at Renaissance.”

Using Help to Buy meant that the Singhs were able to make the huge leap from a one bedroom apartment into a three bedroom new house. Shalini said, “Our new house at Renaissance is amazing. We have so much space and we have a garden, which has been wonderful over the past few months of coping with lockdown and coronavirus. We also have a garage and a parking space so we feel very lucky to have so much room.”

Abhay added, “We moved into Renaissance three days after lockdown. This date was already set with Bellway, the bank and the removals company so we just had to go ahead. The removal people were very careful and took extra precautions to keep us all safe, as did the site staff at Bellway. It turned out so well for us as we have both been on furlough and we have had so much time to unpack, get to know the area and settle into our new home.”

Because Abhay and Shalini were buying a home with no chain, the whole process only took a few weeks from reservation to moving.

Shalini added, “We looked at a lot of houses before we came across Renaissance. We liked some of the older-style houses that we saw, but at the end of the day we realised that the new homes at Renaissance were the exact floor plan that we wanted. If we had chosen an older-style house we would have ended up spending lots of money on it to make it how we wanted. We didn’t need to do this with our house – it’s just perfect for us."

Abhay works in research at Oxford University and Shalini has recently started a new job in London working as a researcher for Cancer Research. Her new role in London meant she needed to live somewhere with a good commute and Reading is ideal for this.

Shalini said, “We can walk to Reading West from home and jump on a train to Reading Central – in normal circumstances these trains run very regularly. Then from Reading it is only 25 minutes into central London. We are looking forward to being able to enjoy the amenities that the town offers, not to mention being able to have our family and friends over – no one has been to see our amazing new house yet!”

Renaissance is a collection of one, two and three bedroom apartments and three and four bedroom houses available with Help to Buy. Apartments start from just £235,000. The houses at Renaissance are now all sold.

shanlyhomes.com

bellway.co.uk

WHAT’S AVAILABLE

SOUTH CROYDON

FROM £340,000*

Tilbury Lodge

* Help to Buy available

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THEN & NOW

FORDHAM, CAMBRIDGE Rayners Green

FROM £289,950*

PECKHAM

Housebuilder Hill is launching 68 two, three and four bedroom homes in the village of Fordham, Cambridge, in a joint venture with Scotsdale Garden Centre, a local leading garden centre and plant expert. Rayners Green, so named after David Rayner who founded Scotsdales in 1968, has been designed to complement the existing architecture in the village, with each of the homes benefiting from characterful touches such as bay windows, brick facades and pitched rooftops.

The mix of detached and semi-detached homes will also include contemporary and bespoke breakfast rooms and kitchens with energy efficient appliances and open-plan living and dining rooms. The four bedroom houses also have a separate study, which is ideal for those looking to work from home more regularly. The houses also boast landscaped front gardens, spacious rear gardens and paved patio areas The residents will enjoy all of the benefits of a quintessential Cambridgeshire village, including a thriving community that has historic pubs, independent shops and a Michelin Guide rated restaurant, as well as a network of cycle routes. Once complete, Rayners Green will also be home to retail facilities and a variety of green, open spaces for residents to enjoy.

Newmarket is just under five miles away, from where residents will be able to catch regular trains heading to Cambridge, Norwich, London King’s Cross, Peterborough and Ipswich.

A Scotsdales voucher to the value of £1,000 and a garden design service worth £180 will be available upon completion to the first 10 purchasers at Rayners Green. raynersgreen.co.uk

LEWISHAM The Pomeroy

FROM £112,500*

Peckham Place With both London Help to Buy and shared ownership available, Peckham Place in Zone 2 offers a stylish selection of one, two and three bedroom homes that feature a sophisticated modern design in a variety of spacious and flexible layouts, with open-plan living, dining and kitchen areas and an en suite to the master bedrooms. Many homes have a paved terrace or private balcony featuring frosted privacy glass. Peckham Rye tube station is a seven-minute walk away and Queens Road Peckham Overground station is a five-minute walk away, with both stations servicing trains that reach central London in less than 15 minutes. nhgsales.com *Based on a 25% share with a full market value of £450,000

* Help to Buy available

FROM £120,000*

Located between the vibrant and charming urban villages of Peckham and New Cross Gate, The Pomeroy offers a mix of three bedroom houses and one, two and three bedroom apartments and duplexes both for private sale and shared ownership. For first time buyers looking for a home that offers a well-connected Zone 2 location, close to some of London most interesting areas, The Pomeroy offers the ideal opportunity to live the London lifestyle for less. All of the apartments feature their own private balcony,and there is a selection of communal green spaces throughout the development, plus the connecting Hatcham Gardens which further extends the outside space. Residents can enjoy a seven-minute walk to Queens Road Peckham Overground station, from where the trendy hotspots of Hoxton and Shoreditch are less than half an hour away, and London Bridge can be reached in 15 minutes. peabodysales.co.uk *Based on a 30% share with a full market value of £400,000

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TECHNOLOGY

COME ON, GET ‘APPY

One great thing about technology is that it makes our lives easier, from ordering food right to the doorstep, helping us to keep in contact with loved ones and enabling us to buy things with the tap of a finger. But it doesn’t stop there! The property industry, like many others, has embraced the digital age we are in and has made life easier for homebuyers. Interested in helping those looking to buy as the market slowly begins to pick back up, Bankrate.com/uk has compiled a list of the best apps for those looking to buy

RIGHTMOVE / ZOOPLA (FREE)

PLANNER 5D (FREE)

Not only will you get listings for every property that’s up for sale on both of their websites, but you’ll also be able to access information such as schools and stations near each property. They also have neat features allowing you to use GPS technology to see the properties for sale as you wander around different streets.

What’s more, you can turn on alerts that help keep you ahead of others when something new comes on the market.

Whether you’ve already found your dream home and are ready to start decorating or you are at the planning stages of moving, it’s never too early to look at the interior side of things. Planner 5d allows you to create, view and edit your home interiors in 2D or 3D.

HOUZZ (FREE) When looking for ideas on how to decorate the new place, try the Houzz app. This app lets you browse through images and pin them on to mood boards for inspiration. As well as this, you can browse through more than 16 million photos of home interiors and exteriors.

You can also find, view, and buy products for your home and even get professional advice from the likes of architects all in one place!

AROUNDME (FREE) If you’re moving to an area where you are not overly familiar with your surroundings, then this app can be of great value!

AroundMe is a useful tool to help find places nearby such as the most convenient bank, supermarket, or park. It comes complete with maps and user ratings – helping you to pinpoint those allimportant spots.

CRIMEMAPP (FREE) If you’re moving to a new area, being aware of any previous and current local crime is essential.

Homebuyers can now add to their local knowledge with CrimeMapp. This app gives statistics on crime levels in any area of England & Wales and compares it to the national average – offering potential homebuyers peace of mind.

HOFFR (FREE) Hoffr is a low cost and easy way to access private property sales across the UK. The app includes an “open home” feature that lets you request viewing times and sellers can also accept or reject requests, all at the click of a button! It’s free to contact sellers or buyers, and there are no registration or application fees involved. Homebuyers and sellers have nothing to lose and everything to gain with this app.

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REAL LIFE

SHARED OWNERSHIP ENABLED US TO GET ON THE PROPERTY LADDER

First time buyers Evelin Csaki, 31, and partner Anthony Omoregie, 39, had been renting locally in Croydon for a number of years but were keen to get on the property ladder.

The couple wanted to stay in the area as their six-year-old daughter, Lexie, had started school locally and Croydon offers excellent transport links to Evelin’s job as a nanny in Clapham Junction After looking at many properties, which were either unsuitable or out of their price range, they were delighted when they saw that Legal and General Affordable Homes was marketing shared ownership apartments at Leon House, in the heart of Croydon.

Evelin explains, “We had been searching since 2018 for a new home but couldn’t find anything suitable. On our daily walk to Lexie’s school we were really interested to see work starting at Leon House. I was keen to find out more and started researching what was being built and put our name down to view as soon as we could. As soon as the marketing suite opened we visited the development and spoke to the Don’t miss out! sales advisor who told us about shared Get in touch today ownership. We chatted through all our to discuss options and realised we could buy a availability 35% share of a two bedroom apartment, which meant we could finally get on the property ladder and own our own home.”

Evelin and Anthony moved into their the fact that it has outdoor apartment at the end of April 2020, despite space in the form of a roof garden for all lockdown taking place. “It was a really the residents to use. There are also a lot difficult time for everyone and we ended of modern appliances which are included up getting delayed with paperwork being in the price and it’s wonderful to have two held up so had to move into temporary bathrooms instead of one. Lexie is so settled rented accommodation for just over a week in her new home and we just love having all until we could get everything sorted. It was the extra space for our family.” such a relief to be able to move in and we Based in the heart of Croydon, the now can’t wait to be able to buy some more transformed building of Leon House offers furniture for our new home.” the perfect work-lifestyle balance, with a Shared ownership gives first time residents’ co-working space, private dining buyers and those who do not currently own room on the roof, and sky garden featuring a property a more affordable way to get on large windows and bespoke seating. the housing ladder and purchase a share Within the double-height lobby there is a in a new build home. You pay a mortgage dedicated concierge service to help with on the share you own, and then pay rent post and deliveries and 24/7 CCTV security to Legal and General Affordable Homes is also included. Each apartment has been on the remaining share. It often works out designed by Love Interiors which worked cheaper than renting a property. with the form and function of the building Evelin continues, “The apartment is to keep interiors clean, modern and so spacious; almost double the size of the clutter-free using quality materials like oak property we were renting and the large flooring and specialist ceramics. Compared windows let in so much light. We also love to other modern developments, room sizes

are generous, which, together with high ceilings and large windows, gives wonderful light and space.

New retail, dining and office developments are transforming Croydon into one of London’s fastest growing economies.

Westfield is bringing a whole new dimension to shopping with a flagship John Lewis and dozens of other big-name fashion and designer retailers. Leon House is located on the edge of South End, now recognised as Croydon’s restaurant quarter providing a wealth of local eateries. A 15-minute walk away is street food centre Boxpark, the perfect destination for casual dining and relaxing with friends while sampling every kind of cuisine that you could imagine.

With high speed road, rail and tram connections that integrate Croydon into central London and the South East, the area is superbly located for commuting.

For more information about shared ownership and to view our properties visit landgah.com

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VIEWINGS

EXPERT COMMENT As the industry faces new challenges, we are focusing on embracing technology where possible to deliver online experiences such as live virtual tours with our sales advisers and customers. Many of our developments have a 360-degree tour of our show homes readily available, meaning that potential buyers can walk through a range of different house types from the comfort of their own home. We also have fly-through videos that offer a similar experience, exploring a number of homes.

It is very much business as usual during these appointments as we are able to answer all of the usual queries, while also offering customers a virtual tour experience of our house types and developments. We are confident that potential buyers are still receiving the same high standard of customer care, and that the only difference is that they are now not physically able to visit the

THE NEW NORMAL

Over recent months, the property industry has seen the rise of the virtual tour as prospective homebuyers continue to search for a new home during the coronavirus lockdown restrictions

show home.

Of course, the majority of buyers will prefer to physically view the home they are potentially purchasing, but as the industry adapts to a new way of life, so are customers, who are happy to respond to these changes. The response so far has been extremely positive, as potential buyers can view a number of show homes – and even developments – from the comfort of their own home. In some cases, they may even get more out of a virtual

Virtual tours have become a very helpful way for people to view a property safely without having to leave their own home, and have proved invaluable at keeping the market ticking over even during the lockdown period when people were prevented from viewing in person.

While the property market has now reopened, and new build sales suites are open once again for face-to-face appointments, many house hunters are still taking the opportunity to view a property virtually before visiting it in person – especially if they are looking in an area that's some distance away from where they are currently living.

It's becoming clear that virtual and interactive tours are here to stay long beyond lockdown – which shouldn't be a surprise as they offer considerable benefits to busy buyers.

In terms of practicalities, taking a tour of a home online allows the homebuyer to look around the property as many times as they

42

would like, and at a time that suits them. Thanks to the pandemic, just dropping into a sales suite to have a look around is no longer possible, but unlike in-person viewings, you don't need to make an appointment with the sales team to view online. Virtual tours are available to view 24 hours a day, so buyers can take a look at the property at a time convenient for them, come day or night, even if it is outside of the development’s official opening hours.

Viewing a property virtually also provides an even better ability to imagine yourself in a home, as you view each room in the property independently, and at your own pace.

If possible, try to view on a computer screen or smart TV rather than on your phone to get the largest, clearest images. While it can't entirely replace in-person viewing, making the most of virtual tours can help you to shortlist the properties you really want to see, saving you time, effort and petrol.

viewing, as not only can customers view multiple properties in quick succession, but they are more likely to view the properties an unlimited number of times.

Virtual viewings may very well be the way forward even after restrictions on social activities are lifted, as they offer a convenient solution for potential buyers if they are unable to physically visit the development. It may well be that our temporary responses could stay with us in the long term, offering homebuyers another option to view new homes from a distance.

Natalie Perry Sales and Marketing Director, Barratt Kent

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VIEWINGS

HOMES YOU CAN VIRTUALLY VIEW

RUDGWICK, WEST SUSSEX

FROM £389,950

Barleycroft

Barleycroft is an exclusive collection of stylish two to five bedroom houses. Inside the homes, interiors feature stylish open-plan living spaces and fully fitted modern kitchens with integrated appliances. The village of Rudgwick is home to a variety of local everyday amenities, including a pharmacy, post office and local pub, alongside necessities such as a medical centre and dental practice. Ideal for families, the surrounding local area offers a wide selection of nurseries and schools, catering for children of all ages. Barleycroft benefits from great travel connections with easy access to Dorking, Horsham and Guildford. From Horsham railway station, it takes just over an hour to London Victoria. berkeleygroup.co.uk / 01403 887 140

BIDDENDEN, KENT The Maltings

FROM £445,000

For homebuyers seeking a property that provides the very best of quintessential village life, balanced with the ease and style of a new build home, The Maltings by Millwood Designer Homes is the perfect choice. Comprising a stunning collection of one to six bedroom homes available with Help to Buy nestled within the beautiful Weald of Kent, bordering the Kent Downs Area of Outstanding Natural Beauty, The Maltings provides a unique hamletstyle collection of 45 homes which have been thoughtfully planned and designed. It is a quick 12-mile drive to Ashford International, where it takes just 38 minutes to reach London St Pancras. millwooddesignerhomes.co.uk / 01580 828580

FAVERSHAM, KENT

FROM £354,995

Perry Court

Perry Court offers a collection of three and four bedroom homes located on the outskirts of Faversham, a historic market town. The development itself provides easy access to walking and cycle routes, and includes play areas, allotments and an on-site orchard. Meanwhile, the town centre offers a collection of vintage shops, traditional cafes, restaurants and pubs. Homes come with fitted kitchens, stylish bathrooms and free-flowing internal layouts. Faversham railway station is a mile away with direct services to London Victoria and London St Pancras in just over an hour.

There are incentives on selected homes. barratthomes.co.uk / 0333 355 8502

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AFFORDABLE HOMES

3

REASONS WHY WE LOVE WILLIAMSON HEIGHTS!

For London home-hunters seeking an urban oasis amid one of the capital’s most vibrant districts, Peabody’s recently launched development Williamson Heights offers the perfect tonic. Located in the heart of Wembley on the cusp of Wembley Park, this exciting development boasts a stylish collection of shared ownership apartments ideal for first time buyers – and here’s why...

WITH WELLBEING AND WORK-LIFE BALANCE IN MIND 1BUILT At Williamson Heights, residents have access to an abundance of communal areas* ideal for relaxation, leisure or work.

Enjoy working from “home” in the coworking space including private meeting rooms and semi-private working pods. Take a break with a game of table football or a quick yoga or HIIT session in the hireable fitness suite. And after a busy working week, the cinema room allows residents to relax in comfort and enjoy a good film or gripping TV series.

On sunny days, enjoy the landscaped communal podium garden at the lower level or revel in the breathtaking views across the iconic Wembley skyline from the rooftop terrace; a truly exceptional space where residents can escape to relax, unwind and soak up the panoramic cityscape views of this iconic urban setting.

APARTMENTS MOMENTS FROM THAT ARCH 2 STYLISH Each shared ownership property has been thoughtfully designed to provide buyers with spacious, light-filled layouts and contemporary interiors complemented by a high-quality specification and integrated appliances. Built-in wardrobes come as standard to the master bedroom with convenient en suites to selected homes.

But what is truly outstanding about the apartments at Williamson Heights is the private outside space offering an extension of the home – especially useful on those warmer days. Each home comes complete with one or two generously sized balconies; wonderful for working outside in the fresh air, unwinding with a good book or even al fresco dining with views of the city.

LOCATION THAT IS MORE JUST A STADIUM 3 ATHAN Occupying a superb location, there’s plenty to keep you occupied. Located on

the outskirts of Wembley Park – host to the popular modern street food centre at Boxpark, theatre productions, the iconic Wembley Stadium and London Designer Outlet, all of which are just a few minutes’ walk from Williamson Heights. Whether you are after a spot of retail therapy, the newest film release or something to tantalise your taste buds, everything is on the doorstep.

For something a little further afield, Westfield, Covent Garden and Leicester Square are all less than half an hour away, and for some peace and quiet away from the hustle and bustle, King Edward VII and Barham Park are a short walk away.

For those who need to travel for work, living at Williamson Heights is a commuter’s dream. The development is located in Zone 4, with the Wembley Stadium station’s Overground service

connecting first time buyers to London Marylebone in less than 15 minutes.

Wembley Park and Wembley Central tube stations are also served by the Bakerloo, Jubilee and Metropolitan lines and are also within walking distance.

Williamson Heights, which has a convenient concierge service, is fast becoming an unhidden gem in the capital, with prices starting from £97,000 (25% share of £388,000 for a one bedroom apartment).

Register your interest to view or find out more about Williamson Heights, including available incentives, at WIlliamsonheights.co.uk or call the Peabody Sales team on 020 7021 4842 *Residents’ lounge due to be complete late 2020/21 and individual entertainment subscriptions may be required.

Additional T&Cs may apply. Times taken from Google Maps. Prices correct at time of print.

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HELP TO BUY

EXCITING NEW HOMES FROM A FORWARDTHINKING DEVELOPER

Inland Homes apartments are perfect for first time buyers looking for superior specifications, sought-after locations and affordable prices. With developments across the South East and prices from just £195,000, these luxury one and two bedroom homes ooze contemporary modern style throughout All apartments boast an excellent specification including secure allocated parking, a handleless Nobilia kitchen with integrated appliances, underfloor heating throughout and a private balcony to most of the homes.

The apartments feature open-plan kitchen/living areas, providing plenty of space for socialising and relaxing. All bathrooms, en suites and shower rooms are finished with Porcelanosa tiling, Villeroy and Boch sanitaryware and chrome towel rails. Plus, Help to Buy is available on all properties, meaning purchasers will only need a 5% deposit to secure one of these brand new homes.

Recently launched, Venue comprises a charming collection of just 39 one and two bedroom apartments nestled in the heart of Maidenhead. Venue boasts a historic background, after being converted from the popular 1930s nightclub “The Showboat”.

These new homes are in a prime location, with excellent commuter links, leisure facilities and access to the River Thames all within walking distance.

Venue is a short 10-minute stroll from the town centre and just seven minutes from the Thames, with a variety of restaurants and bars for residents to discover nearby. This securely gated development features beautifully landscaped communal gardens accompanied with a video entry phone system for added security. Prices at Venue start from £310,000.

Inland Homes offers two spectacular waterside developments in the vibrant city of Southampton. Chapel Riverside is situated along the west bank of the River Itchen, with a remarkable collection of high-quality one and two bedroom apartments available from only £195,000.

This award-winning development is perfect for those looking for excellent value, a contemporary finish and an outstanding location. Southampton city centre and Ocean Village are just minutes away, meaning residents can truly experience

Chapel Riverside, Southampton

Meridian Waterside, Southampton

the best in waterside and city living. Plus, all residents can enjoy the landscaped communal podium gardens, riverside walkways and unlimited access to an abundance of amenities.

Chapel Riverside offers a range of waterfront homes with breathtaking views of the River Itchen, which can be seen from private balconies and through the stylish floor-to-ceiling windows.

A short distance along the River Itchen is Meridian Waterside, a truly unique waterfront neighbourhood offering a bespoke collection of one and two bedroom apartments. With Southampton city centre, a range of amenities and travel links close by, this is a fabulous opportunity for first time buyers to acquire a new home in an outstanding waterside setting.

Each new home has been carefully designed and is finished with a high

Venue, Maidenhead

specification throughout. Waterfront homes are available with a spacious open-plan kitchen/living area, a private balcony to take in the views and allocated parking.

Residents at Meridian Waterside have access to the landscaped communal gardens, and a 10-year warranty is included with every home for peace of mind.

With Help to Buy available and a range of affordable yet modern homes to choose from, don’t miss your chance to acquire a beautiful home at one of these exciting new developments.

Enquire at Inland Homes today to discover more and book a viewing appointment. To speak to a member of the team call 01494 546772 or email sales@inlandhomes.co.uk. You can follow Inland Homes’ social media channels on Facebook, Twitter or Instagram to keep up-to-date with the latest news and offers

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AFFORDABLE HOMES

JOIN AN EAST LONDON CANALSIDE COMMUNITY AT EXPLORERS WHARF

A short tube ride from the City but full of its own East End character, Limehouse is one of London’s most historic and atmospheric neighbourhoods. Newlon’s latest new homes form part of a larger development named Explorers Wharf which sits at the heart of it all overlooking the Limehouse Cut canal

With a variety of one, two and three bedroom apartments now available for shared ownership, Explorers Wharf is a great opportunity to get a foot on the property ladder with Newlon Living in an attractive waterside quarter of east London.

The development is on a quiet street just a five-minute walk from the marina at Limehouse Basin. The contemporary apartments are designed around pretty landscape gardens and walkways with direct access to Limehouse Cut, London’s oldest canal. Our new residents will have access to their own concierge, gym and bike store as well as being able to enjoy river views from the roof garden.

The light-filled homes are created for relaxing but also for those days

when people choose to work from home, something most of us are getting more used to. Open-plan living areas with floor-to-ceiling windows give views down to the landscaped gardens. These airy living rooms are painted in a muted colour scheme that continues into the dining areas, which are fitted with recessed spotlights and brass fittings. The welldesigned kitchens also provide the perfect environment to create all those new recipes that have become popular recently.

Around these new homes is an eclectic and welcoming neighbourhood. Once the hub of maritime industry, Limehouse Basin is now a picturesque marina and a popular spot for boat watching. Nearby is Narrow Street, home to charming Georgian terraces,

actor Sir Ian McKellen’s pub, The Grapes, and Gordon Ramsay’s riverside restaurant, The Narrow.

The Limehouse Cut and Regent’s Canal both offer lots of ways to unwind, from morning runs to longer cycle rides all the way to the Queen Elizabeth Olympic Park.

It’s also very well connected, with Canary Wharf right on the doorstep and the West End a short hop on the tube. There’s always something new to explore.

To register your interest visit explorerswharf.london For more information about the range of homes and services available from Newlon Living go to newlonliving.co.uk

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AFFORDABLE HOMES

Computer generated image is indicative only

RIVERSIDE LIVING AT ITS BEST Optivo has launched a development of beautiful modern apartments near the south bank of the River Thames, in the desirable London borough of Wandsworth. Offered on a shared ownership basis, stunning Waterway gives first time buyers the opportunity to get a foot on the property ladder in a sought-after SW18 postcode The development of 93 apartments, a mix of one and two bedroom, is built to a high standard with modern specifications, close to a wealth of local amenities. Situated where Wandsworth meets Putney, the area is home to a colourful mix of shops and restaurants, bars and boutiques. Local leisure facilities are excellent and luscious green spaces, from Wandsworth Park to Putney Heath, are close by.

Well-connected Waterway is an ideal base for commuting or enjoying the sights and sounds of the heart of London. Overground trains from nearby Wandsworth Town station get to Waterloo in less than 15 minutes, while it’s only 22 minutes to Victoria via regular tube services from East Putney. For those who prefer the nautical route, the Thames Clipper from Wandsworth Riverside, directly next to Waterway, reaches Westminster in half an hour, and carries on to Embankment and London Bridge.

Waterway’s first-rate kitchens and bathrooms are fitted with top-quality units, with luxury touches that range from polished chrome to under-cabinet lighting.

Some homes benefit from glass-fronted

balconies and terraces, while others offer Juliet balconies. There are also secure, onsite bicycle storage facilities and a 24-hour concierge service, giving residents extra peace of mind.

Pricing starts from £131,250 for a 25% share of a one bedroom apartment, and from £155,625 for a 25% share of a two bedroom apartment.

For more information about the properties available at Waterway, contact the Optivo sales team: 0800 0121 442 sales@optivo.org.uk waterway-wandsworth.co.uk Optivo is a mixed-tenure housing provider operating in London, the South East and the Midlands. The Sales and Marketing Team manages all new home development for shared ownership and open market sale, offering high-quality homes to suit most budgets.

In 2019/20 Optivo built over 300 homes for sale, in 2020/21 it aims to grow that even further. Optivo’s customers are at the heart of everything it does: building homes, making places and enhancing lives.

Images of the show homes at Waterway

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AFFORDABLE HOMES

SHARED OWNERSHIP DRIVES HACKNEY BUYERS TO WOODBERRY DOWN

Shared ownership is proving to be a popular choice in the capital, out-performing demand for other housing tenures, with 55% more registrations than the same period last year.¹ For first time buyers keen to pursue their homeownership dreams in the city, one of London’s leading housing providers Notting Hill Genesis has launched its latest phase of shared ownership apartments at Heron Quarter at Woodberry Down. Enjoying a perfectly tranquil location, buyers can enjoy living in a stunning waterside location, within the vibrant London borough of Hackney Forming one of the largest regeneration projects in the country, Woodberry Down will eventually deliver 5,500 new homes, alongside a combination of new community facilities and public spaces.

In partnership with Berkeley Homes, Notting Hill Genesis’ new phase at Heron Quarter offers a stylish collection of 62 one and two bedroom apartments available to purchase with shared ownership. This valuable homebuying solution allows buyers to purchase a new home with a starting share of 25%, meaning buyers only need to pay a 10% deposit on the share they purchase, rather than on the full market value.

Occupying a central location in what is described as one of north east London’s most dynamic and diverse districts, aspiring city purchasers have an exciting opportunity to own a home in an outstanding setting. Woodberry Down is a few minutes’ walk from the Woodberry Wetlands wildlife and nature reserve, an urban sanctuary rich in wildlife and open all year round.

A trio of parks neatly surround the development; Finsbury Park, Woodberry Down’s new Spring Park and Green Flag-awarded Clissold Park offering 55 acres of green space, a cafe, tennis courts and a summer paddling pool. All offer fantastic green spaces to escape to for a breath of fresh air.

James Munson, Head of Marketing at Notting Hill Genesis, comments, “We are incredibly pleased that shared ownership is receiving such a high level of interest during what has been a challenging year.

“Demand for more affordable ways to live and buy in London is still strong, especially at such popular locations as Woodberry Down with its combination of green space, great transport connections and attractive development design.”

This stunning development is surrounded by the East and West Hackney reservoirs and Wetlands, while still being within easy reach of the transport hubs at King’s Cross St Pancras, Leicester Square and London Liverpool Street.

All of the shared ownership apartments have been built to an exceptionally high standard and have been expertly designed to offer spacious open-plan layouts that make the most of the superb waterside location and surrounding communal landscaping. Many apartments have a private balcony or terrace, with some enjoying views overlooking the west reservoir and London’s iconic skyline.

The eclectic hotspot of Hackney has something for everyone. There is a vibrant social scene and diverse dining options, ranging from the Michelinstarred restaurants, Clove Club and Lyle’s in Shoreditch, to the gastronomic hub at Stoke Newington’s Church Street along with a number of welcoming

cafes and bars located nearer to home. Woodberry Down also has a health centre, two schools and an Academy within walking distance of the development.

For shopping options, Harringay Green Lane’s Shopping City is around a 10-minute walk away, while the street food feasts and pop-up malls of Boxpark Shoreditch can be reached via services from Shoreditch High Street station in under 40 minutes or a short 20-minute bike ride.

For those who need to travel into the city, Manor House Underground station is just five minutes’ walk from home and served by the Piccadilly Line.

Alternatively, there are two Overground stations, Stamford Hill station and Finsbury Park station, providing direct routes into Moorgate in 16 minutes and Liverpool Street in 20 minutes, where future Crossrail services will also be operating, providing an average journey time of just 10 minutes to Canary Wharf and Paddington and 40 minutes to Heathrow Airport.

Prices at Heron Quarter start from £106,875 for a 25% share of a one bedroom apartment priced at £427,500. For more information about Heron Quarter at Woodberry Down or to register your details, please visit nhgsales.com or call 020 3815 2222 to book your virtual viewing appointment 1https://sharetobuy.com/news/share-tobuy-reports-highest-registrations-for-2020

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OPEN MARKET

WORKING TOGETHER TO GET BUYERS MOVING THROUGH LOCKDOWN Although most of the world was in lockdown, life still went on. For Rosie Becker, that meant having to find a new home at the very start of the Covid-19 pandemic “I needed to move out of my rental property around the middle of February, when the UK was initially talking about going into lockdown and the pandemic had just started to take hold,” explains Rosie. “At first, I thought that my budget would only allow me to continue to rent, but I spent some time researching properties in the east London area when I came across the White + Green development on Rightmove and realised that it was in my price range. Even though it was a Sunday, I was still able to view the development and the sales team were really helpful and gave me lots of great information.”

This included explaining Help to Buy, which allowed Rosie to purchase her own one bedroom apartment. “I had viewed a lot of rental properties in London but there was always something that would disappoint,” says Rosie.

“The location might be good but the specification and design let it down or it just didn’t have the space I wanted. But I loved both of the apartments I visited at White + Green and I didn’t hesitate to put in an offer the next day. This is really the dream; to have the exact apartment I want and be a homeowner rather than a tenant. Also, my monthly outgoings are roughly the same but this feels like I’m building something for the future.”

White + Green is a Higgins Homes development of 144 properties featuring one, two and three bedroom apartments, as well as a range of citipads. It is situated between Whitechapel and Bethnal Green underground stations and enjoys a location that is in one of the most vibrant parts of the capital.

Rosie had viewed a number of rental properties but none of them compared to White + Green; as she explains, “The

specification is really high and there’s a lovely light and bright feeling throughout the apartment. I wanted a comfortable space in a great location and this ticks all of these boxes for me.”

White + Green is designed with chic living spaces that feature brand names such as Smeg, Commodore and Hansgrohe.

Stylish trends such composite stone work surfaces, a glass splash back in the kitchens and rainwater showers in the bathrooms add the finishing touches.

As a first time buyer, Rosie was aware that it could be a difficult situation, especially during these strange times.

However, she didn’t find it particularly stressful, even when a full lockdown meant there were no more face-to-face meetings.

“We only had a couple of conversations in person, but when it was no longer possible, we did everything online or via telephone calls. The team at Higgins Homes and everyone involved worked really hard to make sure that things moved forwards and I think that we were at most a few days delayed. I felt that because of the lockdown, actions were actually taken faster because people were aware that there may be delays in the post.”

Rosie has now moved into her apartment and is looking forward to enjoying the local area. “The apartment is in walking distance of a lot of fantastic things,” says Rosie.

“There’s Hackney and Shoreditch close by and the green spaces of Victoria Park and Weavers Field is right next door, which has lovely woodland walks. Brick Lane is also just 10 minutes away and I’m looking forward to enjoying the Indian and ethnic restaurants of Whitechapel. Central London is within cycling distance away but there are plenty of other travel options to choose from too.”

There are just a handful apartments available at White + Green with prices starting at £445,000.

The sales team will be on hand to answer questions and explain more about Help to Buy and other options available. Call 020 8023 9883 or email whiteandgreen@higginshomes.co.uk

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AFFORDABLE HOMES

SHARED OWNERSHIP – A POPULAR WAY TO GET A FOOT ON THE HOUSING LADDER

So Resi Ealing

Shared ownership was introduced in the 1970s, and figures suggest that there are more than 200,000 existing shared ownership households. Demand for the product is expected to rise by more than 15,000 per year – more than twice the number currently being built – when Help to Buy ends.

Demand for shared ownership has been particularly strong in recent months, with SO Resi, the shared ownership brand for Metropolitan Thames Valley Housing, reporting a 130% increase in enquiries for the homebuying scheme in the week following the Government’s lifting of lockdown restrictions.

Kush Rawal, Director of Residential Development at Metropolitan Thames Valley Housing, comments, “In recent months many of the higher loan to value mortgages, and low deposit deals, have been removed from the open market and so shared ownership will certainly be proving to be an attractive option for first time buyers. Throughout the period of lockdown we have experienced a strong demand from purchasers keen to tap into the financial benefits of shared ownership.”

SO WHY SHARED OWNERSHIP? Shared ownership is a much more accessible option for first time buyers with

With the housing market now open for business, homebuyers have been restarting their search for a new home, with many taking advantage of the shared ownership scheme. Shared ownership allows buyers to purchase between 25% and 75% of a home with just a 5% deposit, and then pay a reduced payment to a housing association on the remaining percentage of the home a lower deposit amount needing to be saved to get on to the property ladder.

The scheme allows buyers to purchase a smaller percentage of the home initially, and, as time goes on, the householder can buy a bigger share – in a process known as staircasing. It offers long-term stability and security of tenure without having to overstretch yourself, and your monthly repayments can often work out cheaper than if you had an outright mortgage!

HOW SHARED OWNERSHIP WORKS Under shared ownership, buyers can find a property that suits their own budget, dependent on their financial circumstances.

Buyers will pay a 5% deposit on the share they are purchasing (typically between 25% and 75%). After this, they will make a straightforward monthly payment which

combines the mortgage on the share that they own, the amount owed on the remaining share, alongside a service charge and any other applicable costs as agreed when they purchased. After the initial purchase, they are free to increase their shares whenever their budget allows.

For example: If the flat you like costs £300,000 and you start by owning 25%, that will equal £75,000.

The shared ownership costs mean: • You pay a deposit of 5% of £75,000 – which adds up to just £3,750.

• Then you pay a mortgage on the difference between £75,000 and £3,750 – that’s £71,250.

• You need to take out a repayment mortgage, so the amount left to pay will go down every month.

• Finally, you pay a subsidised payment on the remaining share of the property.

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AFFORDABLE HOMES

CASE STUDY

CROWTHORNE SO Resi Crowthorne is a collection of contemporary one and two bedroom apartments situated in Crowthorne. It is surrounded by natural parkland on the edge of Swinley Forest, with over 100 acres of green open space. It is located within the M4 and M3 corridor, offering ease of access to the M25 and M40. Each apartment benefits from a balcony and a fully fitted modern kitchen.

Prices start from £55,625 for a 25% share in a one bedroom apartment with a full market price of £222,500. soresi.co.uk/crowthorne 020 8607 0550

WELWYN GARDEN CITY

Terry Harvey, 46, and his husband Diego Negherbon, 38, were renting a one bedroom apartment in Ealing, but knew that it would be impossible to save up for a deposit for the home they wanted in the local area. After finding out about shared ownership, they decided to buy their first home and recently purchased a 25% share in a two bedroom apartment at SO Resi Ealing in west London, after saving a £14,000 deposit over three years.

Terry, who works for TfL, said, “Shared ownership was an opportunity for us to invest in something of our own, and without it, we wouldn’t have been able to buy in Ealing. Our plan is to staircase and buy an additional 1% share every year for the next 15 years.”

Kush Rawal adds, “The accessible nature of shared ownership will be especially appealing for many looking for a financially realistic route into homeownership with a lower deposit requirement and a more manageable monthly mortgage commitment. They can always increase shares in the property at a time when they feel able to and as their finances allow.”

With shared ownership, getting on the property ladder is more accessible than ever and SO Resi has an excellent collection of homes and apartments around the country that are available through the scheme.

SO Resi Times Square is an award-winning, unique building located a 10-minute walk away from the town centre, where there are a range of amenities available and a vibrant nightlife. There is a range of one and two bedroom apartments available, all with fully fitted kitchens. Welwyn Garden station is nearby, with trains every 20 minutes.

Prices start from £53,750 for a 25% share in a studio apartment with a full market price of £215,000. soresi.co.uk/times-square 020 8607 0550

EALING SO Resi Ealing is a superb new development offering a collection of one, two and three bedroom apartments to buy through shared ownership. It is located just a short walk away from Ealing Broadway, and West Ealing train station is just 10 minutes away. There is a wide range of amenities, restaurants, and shops nearby as well as many green open spaces. Each apartment has either a balcony or terrace to extend living space and residents benefit from access to a spacious rooftop garden.

Prices start from £105,000 for a 25% share in a one bedroom apartment which has a full market price of £420,000. soresi.co.uk/ealing 020 8607 0550

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REAL LIFE

Shared ownership: Lee-on-the-Solent, Hampshire

FA C T F I L E

Full market value: £210,000 30% share: £63,000 Deposit: £3,500 Mortgage: approx £250 pcm

When Matthew Taylor moved back in with his mum to save in order to buy a house, he did not imagine that he’d be able to get a deposit together in just eight months, but thanks to shared ownership with Radian Homes, 27-year-old Matthew managed to purchase his first home at Daedalus Village earlier this year

R

ecent research by agent Hamptons International suggests it could take up to 10 years for a first time buyer to save for a deposit¹. Matthew explains, “I was renting a flat by myself, but quickly realised how much of a waste of money it was. I moved home and put the money saved on renting aside, as well as picking up some extra shifts at work, which allowed me to save enough for a deposit in less than a year. Researching my affordability options I discovered shared ownership, and when I saw the billboards for Daedalus Village advertising homes available through the scheme, I was excited. The location is great and it’s only 25 minutes from Southampton Airport where I work, but it is so quiet and peaceful next to the Solent. I couldn’t ask for more.”

Matthew adds, “The process of buying through Radian Homes was really straightforward. It took a couple of months, but I was happy to be patient as it meant I was able to get on the ladder by myself.

My mortgage is around £250, and my rent is less than £400, so my outgoings here are less than I was saving, which is great.”

Speaking about his new home, Matthew says, “My one bedroom house is ideal for me, living alone. My previous rental property was unfurnished, so when I moved here I had all my furniture to bring with me, and that certainly helped to make it feel

58

more like mine. I love my home and having my own space, so I’d definitely be keen to staircase and buy a bigger share in my property eventually.”

Shared ownership is an affordable homeownership scheme designed to help people get on to or up the property ladder.

It does this by offering purchasers the opportunity to buy a share of a home, while paying a subsidised rent on the remaining share – this makes buying a home more achievable as purchasers only have to save for a deposit on the share bought (rather than the full market value).

Radian Homes has just launched its latest collection of homes at Daedalus Village – 80 one and two bedroom shared ownership apartments and houses, thoughtfully designed to encompass the location’s rich heritage. The character of the former naval buildings is complemented by a new, enhanced style that will see the heritage of this remarkable location preserved for generations to come.

Built around large, open green spaces that reflect the surrounding landscape of the Hampshire countryside, every home is finished to a high specification with large windows designed to flood each home with natural light.

Set in the charming seaside town of Lee-on-the-Solent, the new homes at Daedalus Village are just a short stroll from panoramic views across The Solent, with acres of green space to explore and the convenience of the high street and its amenities on the doorstep.

Homes at Daedalus Village are priced from £54,000 for 30% share of a one bedroom apartment and from £61,500 for a 30% share of a two bedroom apartment.

For more information on Radian Homes’ developments and resale properties visit radianhomes.co.uk or call 0800 145 6663 1 which.co.uk/news/2019/04/first-time-buyers-facedecade-long-wait-to-save-a-mortgage-deposit

“I LOVE MY HOME AND HAVING MY OWN SPACE, SO I’D DEFINITELY BE KEEN TO STAIRCASE AND BUY A BIGGER SHARE IN MY PROPERTY EVENTUALLY”

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FOR SALE

FOR SALE THE CREAM OF THE CROP Each month, FTB scours the market for the best starter homes for first time buyers. So, whether you’re looking for a fresh new pad in our bustling capital, or a starter home on a budget, we hope you will enjoy our selection.

REAL LIFE

Shared ownership p58 O L D H A M , G R E AT E R M A N C H E S T E R

HOIC FIRST C

E

FAMILY ES HO★M ★★

Affordable homes p60-61

H A R I N G E Y, N O R T H L O N D O N

HOIC FIRST C

E

PARK

LIFE

★★★

London living p62-63

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FOR SALE

AFFORDABLE HOMES O L D H A M , G R E AT E R M A N C H E S T E R

HOIC FIRST C

FROM £TBC*

E

FAMILY HOMES ★★★

Radclyffe Gardens Just a few miles from bustling Oldham, and with plenty of parks and amenities on the doorstep, Radclyffe Gardens makes the perfect base for growing families.

The two, three and four bedroom properties have been created with modern living in mind: downstairs, bright, open-plan spaces open to rear gardens, while upstairs, bedrooms are well-sized with plenty of storage space. The local town of Chadderton, for a range of high street shops and eateries, lies around a mile away, while Oldham can be reached in just 10 minutes by car.

Plumlife 0161 447 5050 plumlife.co.uk *Shared ownership available

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FOR SALE W I G A N , G R E AT E R M A N C H E S T E R

FROM £TBC* STEVENAGE, HERTFORDSHIRE

FROM £82,225*

Lindley Village Choose from a range of two, three and four bedroom homes at this new development located five miles from Wigan. The new properties, available through shared ownership, form part of a larger project that will bring a whole new community to the area. The contemporary houses have been finished to a high

standard, with smart, fitted kitchens and sleek interiors.

For everyday life, the nearby town of Leigh has all you need, with schools, leisure centre, supermarkets and cinema, while Manchester is a 30-minute drive.

Plumlife 0161 447 5050 plumlife.co.uk *Shared ownership available

H A N L E Y, S T O K E - O N - T R E N T

FROM £73,750

SO Resi Forster Oaks Situated in a leafy corner of Hertfordshire, these new homes in Stevenage combine the best of town and country living. The one and two bedroom apartments are perfect for modern life – with open-plan living/dining areas, wooden floors, built-in storage and en suite from the master bedroom. As well as the excellent

local facilities and lovely green spaces close by, the area is also undergoing a great deal of regeneration. Commuters are in luck, too – trains from Stevenage reach London King’s Cross in just 23 minutes.

SO Resi 020 8607 0550 soresi.co.uk

*Based on a 35% share of the full market value of £243,500

H O U N S L O W, W E S T L O N D O N

FROM £80,000*

Alexander Gate With a mix of convenience, natural beauty and urban adventure, these new homes are ideal for young professionals and growing families. The two bedroom properties feature a separate kitchen and living area downstairs, along with WC and storage, while upstairs, there’s an en suite from the master

bedroom. All of the properties benefit from a private rear garden. The town of Hanley is just a mile from the front door, while the popular Potteries shopping mall is around a 15-minute walk.

Barratt 0333 355 8478 barratthomes.co.uk

The Staging Post Notting Hill Genesis’ The Staging Post is set within an enviable location just outside central London. It offers one, two and three bedroom homes, available to buy with shared ownership, and is enveloped by 48 acres of parkland. Hounslow town centre is less than two miles away, host to two shopping centres

and an abundance of eateries.

Commuters are well-connected, Hounslow Central underground station is a six-minute walk away with a journey time of 40 minutes into central London.

Notting Hill Genesis 020 3815 2222 nhgsales.com

*Based on a 25% share of a full market value of £320,000

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FOR SALE

LONDON LIVING H A R I N G E Y, N O R T H L O N D O N

HOIC FIRST C

FROM £460,000

E

PARK

LI★FE★ ★

Hornsey Park Place at Clarendon The leafy borough of Haringey, north London, is home to this collection of apartments that mark the first phase of a major regeneration scheme. The project will eventually see the creation of more than 1,700 new properties, along with public spaces, gardens and a brand new park. The 169 apartments launched first will overlook the new Hornsey Park and will consist of a range of studios, one, two and three bedroom homes. Ideal for commuters, the Zone 3 apartments have excellent links to central London, while the private podium garden with Wi-Fi access is perfect for home working.

St William 020 3797 6566 berkeleygroup.co.uk

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FOR SALE R O YA L D O C K S , E A S T L O N D O N

FROM £108,750* WA L T H A M F O R E S T, E A S T L O N D O N

FROM £107,250*

Royal Albert Wharf Just a few miles east of iconic Canary Wharf, and with inspiring views in all directions, these waterside homes occupy a prime position. The one, two and three bedroom apartments are bordered by the Thames, Royal Albert Wharf and Royal Albert Basin, and have a great range of cafes, workspaces and bars

within seconds of the front door; ideal for professionals working in the city, from home, or both.

Getting around the capital is easy, too – Gallions Reach DLR is a five-minute walk away.

Notting Hill Genesis 020 3733 1152 nhgsales.com

*Based on a 25% share of the full market value of £435,000

H O U N S L O W, W E S T L O N D O N

FROM £124,000*

Motion With views over Lea Valley and the capital, these apartments are superbly positioned for making the most of London life. The two and three bedroom properties form part of a landmark development in Lea Bridge, home to an array of amenities, shops, parks and great Zone 3 transport links. From this sought-after part

of the city, residents can reach Stratford in moments via the Overground, or head into central London in around 30 minutes.

Cycle commuting is made easier with a number of new cycleways planned in the area.

Peabody 020 7021 4842 peabodysales.co.uk

*Based on a 30% share of the full market value of £357,500

SOUTHALL, WEST LONDON

FROM £64,375*

A+ at the Assembly Residents seeking to combine city life with quiet green spaces will find their ideal spot at his new development in leafy west London. The one and two bedroom apartments are housed within an elegant mansion block with access to a private garden courtyard. The stylish homes have spacious living/dining areas that

lead to a private balcony, while wooden floors and chrome fixture feature throughout. Residents can choose from an abundance of local green spaces, while Hounslow East Tube station is a short walk for services to central London.

Network Homes 0300 373 3000 networkhomessales.co.uk

*Based on a 40% share of the full market value of £310,000

Evolution This new development by Network Homes offers shared ownership apartments from studios to duplexes, along with one and three bedroom wheelchair-accessible apartments. Residents will have access to a private podium level garden and communal space.

It’s located close to the Grand

Union Canal, offering lovely towpath walks, parkland and green spaces. Southall station is just a couple of minutes’ walk from the development, taking you directly to London Paddington in around 18 minutes.

Network Homes 020 7704 5618 networkhomessales.co.uk

*Based on a 25% share of the full market value of £257,500

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FINANCE

Stamp Duty holiday: what does this mean for first time buyers?

It’s an exciting time for first time buyers as the Chancellor has announced some big changes to Stamp Duty to help kickstart the housing market. Thanks to these changes, no homebuyer will pay Stamp Duty on any property up to the value of £500,000 – which will offer a huge amount of savings to those purchasing their new home WHAT ARE THE CHANGES TO STAMP DUTY? Previously, first time buyers were exempt from paying any Stamp Duty on homes up to the value of £300,000 (and paid 5% on the value between £300,000 and £500,000).

However, now you can dream bigger and better without the financial worry as the threshold has been raised to £500,000 across England regardless of homebuyer status! The changes are effective immediately and will remain in place until 31 March 2021, so your dream of owning a home can be more easily achieved.

This change is expected to benefit nine in 10 homebuyers, saving £4,500 on the average purchase. This is great news, as saving for a deposit and Stamp Duty are some of the biggest obstacles for young people trying to get on to the property ladder. As well as helping the recovery of the housing market, these changes to Stamp Duty will definitely be beneficial for first time buyers – even if you haven’t been the savviest saver!

Lynda Clark, Editor of First Time Buyer Magazine, comments, “The changes to Stamp Duty will be warmly welcomed by first time buyers – especially those with families looking for more space in their first home. The knock-on effect will also be helpful to first time buyers – as homeowners may now take the opportunity

to make a move into a bigger home, therefore freeing up more starter homes for purchase.

“We know that young people in particular are increasingly likely to suffer as a result of economic hardship, and so the removal of an additional tax when buying a home will prove to be a lifeline. During economically challenging times and as saving becomes harder, the cost of Stamp Duty may prohibit a move and could result in many more buyers being left out in the dark and unable to invest in their future.

“The Stamp Duty changes, while temporary, will have long-lasting effects and will encourage buyers to go ahead with their purchase – and in turn, the property market can make a steady recovery.”

Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, also praised the Stamp

Duty changes, “We welcome the Chancellor’s Stamp Duty holiday, which makes shared ownership homes an even more attractive option for people looking to own their own home. Removing Stamp Duty from almost all initial share purchases means that key workers will be able to buy a shared ownership home with as little as two months of rent as their deposit.”

Dean Markall, Sales and Marketing Director at Martin Grant Homes, comments, “Homeowners will be encouraged to move as there will be no additional tax to pay, and first time buyers will have more choice if they are in a position to purchase a larger home, as they will not have to pay Stamp Duty.”

So, if you’re thinking of buying your first home, now is a great time to take advantage of these Stamp Duty cuts!

Kush Rawal

Dean Markall

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LEGAL

To Have and to Hold

Lesley Price FCILEx of CGM Solicitors sets out the differences between being a freehold and leasehold owner; and advises on what to watch out for in terms of purchase costs FREEHOLD TITLE Freehold in its simplest form means you have outright ownership of a property and the land on which it stands. There is no time limit to your period of ownership and you will be responsible for the entire property in terms of maintenance, repair and insurance. With older properties this usually also means your property is not subject to outside charges for communal facilities or services, but this is not always the case particularly on more modern estates.

Freeholds are usually houses, as while it is possible to have a freehold flat you are not able to get a mortgage on these so they are very rare.

RENT CHARGES – WHEN FREEHOLD ISN’T “FREE” The free element of freehold, as mentioned above, differs on certain estates which do have matters which the property owners are required to pay towards collectively. These can include shared road maintenance, common gardens, shared spaces and street lighting. In these cases the property will usually still be freehold, but will be subject to a legal obligation called a rentcharge that obliges the owners to contribute a amount each year to the communal pot.

Depending on the size and shared areas of an estate these charges can be quite high.

When buying a property with a rent charge it is important you see both the estimates and at least the last few years’ final bills so you can budget for how much you are likely to have to pay and you can make sure the charges are stable at roughly the same amount each year.

LEASEHOLD FLATS Leasehold flats are in a communal building so the landlord/freeholder will own the roof, foundations and the outside skin of the building. This would usually be insured by the landlord under a block buildings insurance policy and you will be asked to contribute towards the costs.

Unlike a freehold title, your ownership of the property is time-limited by how long the lease runs, and in theory when your lease term runs out the freeholder gets the property back. (Although there are a

number of ways to extend leases when they get too short). You will pay a service charge towards the maintenance of the shared parts of the building and you will be restricted in what alterations you can make to your property.

LEASEHOLD HOUSES There has been a lot of media discussion in the past few years regarding leasehold houses. And indeed, no more leasehold houses are now being built on development sites. But these do fall into two different categories and it is important to know the two different types of leasehold homes and why they are very different.

Established secondhand leasehold houses are usually leased for a 999-year term at a very minimal rent – often a nominal value. In many cases the original freehold can no longer be located and you can treat the property in many respects like a freehold house.

Newer leasehold houses were built on sites where the developer wanted to retain ownership of the land under the development for investment purposes and typically came with higher rents and shared maintenance costs than existing leasehold houses. These are now no longer allowed to be built and an experienced solicitor will want to proceed with caution if the property you are looking to buy falls into this category. These properties may be capable of being converted to freehold or the terms of the lease improved by varying or reducing the rents. However, this will require proper investigation and you should be very certain of the advice you have been given before proceeding to purchase one of these homes.

SHARED OWNERSHIP PROPERTIES All shared ownership properties and many retirement properties will be leasehold, whether they are houses or apartments.

This is because the mechanism that creates the ownership “shares” is a model form lease that is approved by most mortgage lenders in advance and designed to regulated fairly the relationship between a housing association and its shared owner.

The amount you will pay towards the upkeep of your home will vary depending on whether it is a house or apartment, but estimates should always be obtained so you can fully budget for the ongoing costs involved. With flats, once you complete your final staircasing then your property will remain leasehold, but in the case of a shared ownership house you can often convert your title to freehold after final staircasing. Make sure your legal adviser checks and confirms this for you.

COST IMPLICATIONS When deciding what type of property to buy, whether freehold, leasehold or shared ownership, it is important that you seek experienced legal advice from a solicitor who understands that type of property. They should investigate all possible additional costs for you, such as rent or maintenance charges, administration fees to be paid to landlords or management companies and future fees you may have to pay for consent for alterations or to let your property, for example. It is important that not only the initial purchase costs but any ongoing costs you may be liable to pay are set out for you by your legal adviser. That way you can budget for them effectively and avoid any financial surprises. c-g-m.co.uk

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CREDIT SCORES

WHY YOUR CREDIT SCORE MATTERS Buying your dream home is a big deal! In fact, purchasing a property is probably one of the biggest financial decisions you will ever make in your life. Mortgage lenders will use your credit score and information from your credit report to assess your creditworthiness; which can often influence your chances of acceptance and the rate you get. So it’s important to ensure your credit report is as attractive as possible.

This includes investing a little time in reviewing your credit score as early as possible in the process. This will give you time to iron out any issues and, if necessary, improve your score to give you the best possible chance of securing a great mortgage deal.

Doing a thorough review of your income and spending well in advance is crucial.

Along with your credit report, lenders are likely to take a keen look at your bank statement transactions when you apply.

John Webb, Consumer Affairs Executive at Experian, shares the importance of your credit score when buying a house and how you can ensure your credit report is in the best possible shape before applying for a mortgage

WHY YOUR SCORE MATTERS

9 Check your credit report as soon as possible. Checking up to 12 months in advance is a good idea so you can get an idea of what lenders can see and

Think of your credit report as your financial CV. Just like you wouldn’t apply for a job

without making sure your regular CV was up to date, you shouldn’t apply for credit without first checking your credit report.

Taking the time to check your credit score and report is key to making sure you get accepted and get the best rates. Luckily, there are often ways you can begin to improve your score and make your report shine. The first step is seeing where you stand today.

BEFORE APPLYING FOR A MORTGAGE DO’S

have time to make any improvements.

You can also track your score for free to monitor your improvements.

9 Register to vote at your current address.

Lenders can use this to confirm your identity and it could also give your credit score a boost.

9 Make sure any past debts are correctly shown as paid and closed. You’ll be able to see these on your credit report, but it’s a good time to tie up any loose ends, like closing old accounts you don’t need any more. If you have existing credit cards with a high limit then keeping these open and active can be positive.

9 If you’ve had any payment problems in the past for a good reason, such as losing your job or being ill, then add a “notice of correction” to the three credit reference agencies to explain this to

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CREDIT SCORES

lenders ready for when you apply for your mortgage.

9 Make sure all applicants check their credit report and take steps, if necessary, to improve their score. Remember, lenders will view all named applicants when making credit decisions.

9 Put together the largest deposit you can.

The larger your deposit, the better your deal will be.

9 Shop around for the best mortgage deals. Using comparison sites, such as Experian’s, will enable you to compare current market offers and get an idea of your eligibility. They can also give you a good idea of what your monthly repayments may be; all without damaging your credit score.

DON’TS 9 Try to avoid applying for other credit products in the three months before your mortgage application.

Making multiple credit applications in a short space of time could reduce your score and signify higher risk to lenders.

9 Avoid missing any regular payments as these are likely to damage your credit score. Lenders are keen to see at least a year with no late or missed payments, so make you’ve set up direct debits to avoid any mistakes.

9 Maxed-out credit cards are bad news for credit scores. Borrowing less than 30% of your credit limit is considered a good idea, but the lower the better.

9 Let someone else’s financial behaviour wreck your chances of getting a good deal. If you’ve ever applied for joint credit with someone, you will be financially associated. If you are no longer connected with that person, make sure you ask the credit reference agencies for a financial disassociation.

SIX TOP TIPS TO IMPROVE YOUR SCORE 1. Register to vote at your current address.

As well as helping confirm your name and address, this adds up to 50 points to

your Experian Credit Score.

2. Keep up to date with your payments. A single late payment can wipe 130 points off your Experian Credit Score.

3. Keep credit card balances as low as possible. How much of your card limits you regularly use each month can have a big impact on score as it shows how reliant you are on credit. For example, keeping card balances below 30% of the limit can gain 90 points.

4. Limit applications for new credit. Space out any credit applications you make and shop around using eligibilitychecking services. That way, you’ll only apply for deals you’re likely to get and avoid collecting multiple ‘hard’ search footprints. Not applying for any new credit for six months can boost your Experian score by 50 points.

5. Let your credit history mature. While it’s sensible to shop around from time to time to make sure you’re getting the best deals, it will help your credit score if you let some of your credit accounts mature. For example, holding the same credit card for five years can add 20 points to your Experian Credit Score.

6. Build up your financial track record. Lenders like to see a proven track record of responsible credit management, so get a bank account and try to get your name on some of the household bills (energy, water, broadband etc), making sure that, even if these are shared with housemates, your monthly payments are always made on time.

YOUR SCORE CAN MAKE YOU BETTER OFF A high credit score will help you qualify for credit and secure the best deals, potentially saving you money. So it really is worthwhile investing a little time in reviewing your credit score as early as possible in the process and being prepared.

The average credit score of Experian customers is around 780.

This is deemed as a ‘fair’ score. While you may get a range of mortgage deals with a fair score, improving your score by even just one Experian score band could mean you’re eligible for more competitive interest rates.

The Experian Credit Score is a public-facing score, runs on a scale of 0-999 points and is provided as a guide to how lenders might interpret the information on your Experian Credit Report.

You can view your Experian Credit Score for free at experian.co.uk

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COMPETITION

WIN !

WIN COR A GTECH DLES S TRIM GRASS MER WOR TH £ 129.

99

Backstoroots! gras HOW TO ENTER Answer the following question:

How much does the Gtech Cordless Grass Trimmer weigh?

Send your answer with your full name, address and telephone number to: lynda@firsttimebuyermag co.uk Closing date: 24 August 2020

THE PRIZE… FOUR LUCKY READERS WILL WIN A GTECH CORDLESS GRASS TRIMMER WORTH £129.99 T&Cs • The prize is non-transferable and no cash alternative will be given. Competition is open to UK residents only.

Sitting in your garden during the warm summer days, sipping a cool drink and enjoying the view is a real treat. But how do you keep your lawn looking its best? The answer is simple – use the Gtech Cordless Grass Trimmer that lets you cut and edge your lawn to perfection The Gtech Cordless Grass Trimmer GT30 lets you cut and edge your lawn to perfection and with no cord and no petrol motor it is simple to use too. Powered by a new higher torque and cool drive motor, the Gtech GT30 gives you the ultimate freedom, and weighing in at just 1.75kg it is easy to manoeuvre. A new load-bearing harness reduces strain on your shoulders, neck and back, and the ergonomic handle and trigger also balances the weight so that you can work comfortably and efficiently. You get 30 minutes running time with each four-hour charge, and with a twist of the cutting head, the Gtech Cordless Grass Trimmer even converts to a precision lawn edger, giving your garden a neat finish.

This practical and high-performance grass trimmer is easy to store too and will certainly make cutting the grass a breeze, so you can spend some quality time outside and enjoy your perfect new garden.

For more information visit gtech.co.uk

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FIRST MEAL

FIRST HOME, FIRST MEAL There is nothing quite like a home-baked treat, and this delicious recipe for white chocolate brownies and chocolate sauce is the perfect way to indulge your sweet tooth. Created by Samuel Groves, British cook and bakeware manufacturer for over 200 years METHOD BROWNIES 1

2

3 4

5

6

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Add butter and dark chocolate to a ceramic bowl. Sit bowl over a small saucepan quarter full of water and place on a low heat until it melts. Alternatively, microwave for 2 minutes on high to melt. Leave to cool.

Heat oven to 180C (160C Fan/Gas Mark 4) and line a baking tin or a 20cm Classic Tri-Ply stainless steel pan with non-stick baking parchment to cover the base.

Sieve the flour and the cocoa powder into a medium bowl.

Break eggs into a large bowl, add the caster sugar. Mix with electric mixer on maximum speed, until it looks thick and creamy. This will take 3-8 minutes. It’s ready when really pale and about double in volume.

Pour the cooled chocolate mixture over the eggy mousse, then gently fold together with a spatula in a figure-of-eight action.

Resift the flour and cocoa over the egg mix.

Gently fold mix together using the same figureof-eight action as before. It will end up looking gungy and fudgy. Stir in the white chocolate chunks until even throughout.

Pour the mixture into the prepared 20cm Classic Tri-Ply pan, place in the oven and set your timer for 20-25 minutes. If the brownie wobbles in the middle, then it’s not quite done, so slide it back in and bake for another 5 minutes or until the top has a shiny, papery crust and the sides are just beginning to come away from the tin.

Take out of the oven. Leave in the tin until completely cold and divide into portions. They’ll keep in an airtight container for a good two weeks and in the freezer for up to a month.

WHITE CHOCOLATE BROWNIES & CHOCOLATE SAUCE

INGREDIENTS (serves 4-6) For the brownie:

 125g unsalted butter, cut

into cubes

 125g good quality Samuel Groves was established in 1817, when this Birmingham-based kitchenware manufacturer started making candlesticks. After being awarded a Government contract during the second world war, Samuel Groves went into catering supplies. The company continues to be at the forefront of manufacturing, while retaining the Samuel Groves quality and processes that have been in place for more than 200 years.

2

3

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Place the granulated sugar, cocoa powder, flour, and salt in a medium saucepan or Classic Tri-Ply tapered pan along with half a cup of the milk and whisk to combine into a thick paste.

Add the remaining milk and bring the mixture to a boil; whisk to blend thoroughly, reduce the heat and simmer very gently for 5 minutes, whisking often.

Remove from the heat, add the vanilla extract, and let the sauce cool. Use immediately or store the sauce in the refrigerator for up to two weeks, covered.

  

FOR THE CHOCOLATE SAUCE 1

 

We made these brownies using Samuel Groves stainless steel pans. We recommend the Classic Tri-Ply pan for the brownies, and the Classic Tri-Ply tapered pan for the chocolate sauce. These pans are perfect for all hobs – including induction hobs, and can even be placed in the oven.

dark chocolate (cut into chunks) 55g plain flour (sieved) 25g cocoa powder (sieved) 65g white chocolate (chopped) 2 large eggs 165g golden/white caster sugar

For the chocolate sauce:  300g granulated sugar  55g unsweetened cocoa powder  1 tbsp plain flour  pinch of salt  225 ml milk (or almond/ hazelnut to make it vegan, or lactose-free)  1 tsp vanilla extract

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FIRST MEAL

FTB’S FAST FOOD There’s nothing quite like spending time with friends and family, and when the weather is good a picnic is the perfect option! Think alfresco dining, enjoying fresh salads in the sunshine

Storm and Citrus lunchbox, £15.99, Smidge

BABY LEAF SALAD WITH EDIBLE FLOWERS For the dressing  1 tbsp white wine vinegar  3 tbsp extra-virgin olive oil  1 tsp runny honey  Pinch salt & pepper

Novelty straws, £1.50, Primark

For the salad  75g mixed baby leaves  160g fresh peas, blanched  40g radish, trimmed and finely sliced  75g pine nuts, lightly toasted and cooled  10g edible flowers such as dianthus or violas

CO NTA CTS

» George Home asda.com » Lakeland lakeland.co.uk » Matalan matalan.co.uk » Primark primark.co.uk

» Smidge wearesmidge.com

METHOD 1 2 3

Whisk the dressing ingredients together in a small bowl.

Place the leaves, peas and radish in a large serving bowl and drizzle with the dressing.

Sprinkle with the pine nuts and top with the edible flowers.

Sunset Disco picnic set, £15, George Home

Top tip: If you don’t have a herb garden, edible flowers are available, in season, from some supermarkets and greengrocers. Alternatively, you can buy them from firstleaf.co.uk or nicholsonsherbfarm.co.uk

Blue wave insulated lunch tote, £14.99, Lakeland

lakeland.co.uk Jungle print picnic blanket, £10, Matalan

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FINANCE

Mortgage Clinic

By Nick Morrey, Mortgage Technical Manager, John Charcol How long does a mortgage term last?

Your mortgage term is the period over which you pay your mortgage. It’s typically 15 to 30 years, but varies on a case-by-case basis. The length of time you agree for a repayment mortgage (also known as capital and interest) will affect your monthly payments as well as the total amount you pay in interest, so it’s important to work out your monthly budget before making any final decisions. This will give you a better idea of the term you’re realistically looking at, based on the repayments you can afford. The shorter the term, the less you pay overall – but the higher your monthly payments will be.

What does LTV mean?

You’re bombarded with a lot of jargon when you start applying for a mortgage. Fixed rate, SVR, interest-only, cashback, etc. One industry term that always crops up – and one you really need to understand – is loanto-value ratio or LTV. The meaning of loan-to-value is a lot simpler than you might think. In fact, the term loan-to-value explains itself; it’s the ratio between your loan amount and the value of the property. It can be a little confusing as it’s often expressed as a percentage. For example, you want to buy a house for £350,000 and you have £52,500 in savings that you want to put down as a deposit. You take out a mortgage to cover the remaining amount: £350,000 - £52,500 = £297,500. Your LTV is 85%: (£297,500 divided by 350,000) x 100 = 85.

It’s important to note that you’ll only repay, and be charged interest on, the amount you borrow, not the full value of the property. Therefore, you want your loan-tovalue to be as low as possible. In addition, the lower the loan-to-value, the lower the rate lenders charge.

The maximum loan-to-value you can take out on a mortgage is 95% which means the minimum deposit you would need to put down is only 5%. Currently there are very few 95% products available, but we are hoping that will change soon.

What documentation do you need when buying a house?

Your lender will need certain documentation from you to carry out the assessment stage of your mortgage application. They need to verify who you are and whether you can afford to repay your

Nick Morrey has over 25 years in the financial services industry and believes in making every single part of purchasing a property what it should be -– easy and enjoyable. His role as Mortgage Technical Manager at John Charcol provides independent mortgage advice from the whole of the market to help first time buyers find the right deal for them

mortgage based on your net earnings and financial commitments. You must, therefore, provide evidence of your identity, income and finances.

Documents you may need to provide to support your mortgage application are: proof of ID, eg a passport or birth certificate; proof of address, eg utility bills; proof of earnings, eg payslips; and proof of income and outgoings, eg bank statements.

Your lender will also need to verify that you’ll always be able to make your mortgage payments. They’ll typically run financial checks and likely review employment, salary, expenses, outstanding credit commitments, loans and direct debits, any debts or defaults and any other financial commitments, such as childcare costs or school fees.

If you’re self-employed, you’ll also be expected to provide the last one to three years of accounts, the last one to three years of tax calculations and tax summaries as well as proof of ID and address.

it takes to get a mortgage depends on your unique situation as well as the speed of the lender. Your mortgage could easily be ready in two weeks, but this isn’t always possible.

You may have a complex situation which requires a lot of back and forth with the lender, or there may be issues with your mortgage application, such as those raised on a valuation. A good reference point is about four weeks. Your adviser will give you a more accurate idea of the timeline you’re looking at once they start the process.

When you ask John Charcol for independent mortgage advice, we take all the hassle and stress out of choosing and arranging your mortgage. We not only source the best mortgage for your situation from more than 90 lenders, but our helpful UK mortgage advice team manages the entire process for you, from application to successful completion.

This means that we can retain more control over the application process and keep you updated at every step. Your solicitor will manage the legal aspects of either a property purchase or a remortgage.

They’ll be heavily involved once the mortgage offer is released and the money starts being prepared and made ready for completion – we’ll still be here to assist you and answer any questions you may have.

How long does a mortgage application take?

The timeframe for a mortgage application varies from person to person. How long

For help and advice from John Charcol Mortgage Brokers or to start your journey to owning your first home, visit charcol.co.uk/ftbmortgages or call 0330 127 7829

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FINANCE

Rollercoaster ride

EXPERT COMMENT It’s always been difficult to buy a first home; you have to inconvenience yourself a bit – you might have to do some overtime or take another job part time, and save a bit more or go out a bit less. But it’s not impossible to buy; it’s just hard at this moment.

With shared ownership, you have to have an assessment, firstly to see if you qualify and fit the criteria for an affordable home, and then to calculate what you can afford. If you qualify but are told you can’t afford it, normally it’s because you need a bigger deposit or a higher income or your credit rating is poor.

If it’s your credit rating that’s an issue then you have to try to repair it. If it’s

If there’s one word to describe the mortgage market at the moment it is volatile. Kay Hill looks at some best buys and asks the experts about the trends

affordability, then you need to look at finding extra income or saving up a larger deposit – or look at whether you could buy a cheaper property in a cheaper area. You might be able to afford to buy – just not in your ideal location. If you’ve taken

If you are looking for a mortgage at the moment you are probably feeling a bit dizzy. Mortgage products arrive and disappear again almost overnight and rates and deposit requirements go up and down so fast you’ll need a seasickness tablet.

As an example, take Yorkshire Building Society, the second largest building society in the UK and a popular choice with first time buyers for its mortgage terms of up to 40 years. Before the pandemic it offered 95% and 90% mortgages, but by the end of March its highest loan to value was just 75%. This rose to 85% in May then 90% at the end of May, with a two-year fixed rate at 2.22%. This last deal was so successful that it was “temporarily paused… following unprecedented demand” within weeks. By the end of June, 90% LTV was back, but this

76

time for first time buyers only, with a longer five-year fixed rate at 2.99% with a £495 product fee.

Benjamin Merritt, Senior Manager – Mortgages at YBS, said, “Our desire to lend has not wavered over this period and so after a brief withdrawal, we are pleased to come back to the market with this exclusive range for first time buyers. We know the current market is increasingly challenging for those keen to get started on the property ladder, but hopefully our longer term fixed rates enable borrowers to manage their finances and secure the home they want.”

Anthony Hall, New Business Director at Censeo Financial, notes that in all sectors of the market choice has been reduced, according to the latest reports. “In 2019 there was an average of 19,000 mortgage

payment holidays on credit cards or loans during lockdown it shouldn’t change your credit score, but if you go over the three-month holiday there might be a note on your credit file and banks may use that as they see fit. They could see it as adverse going forward, so you should resume paying promptly.

Rupi Hunjan CEO, Censeo Financial

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FINANCE

products available, in 2020 during January and February there were 21,000, but in the past three months that has dropped to only around 8,000 mortgage products.

Higher loan to value is coming back, but rates have gone up. Even at 85%, which we are thinking about as the new normal, rates have gone up by 0.37%.”

For those buying on the open market, using a broker will give you the best choice of deals and a better chance of grabbing a short-lived bargain, or keep an eye on online mortgage comparison sites and be prepared to move swiftly.

“The issue here is the overwhelming demand,” says Pete Mugleston, co-founder of Online Mortgage Advisor, “With products scarce, as soon as a lender advertises it, thousands of applications come flooding in and they have to hit the brakes, so you only really see these deals for a short time frame.

Getting in on that window is challenging – something many brokers will know too well when, for instance, they have to log on at 8am to get HSBC 90% deals approved, and by 8:15 all the money is lent for the day – it’s like buying Glastonbury tickets! This scarcity is also a reason for the increasing rates for higher LTV products. Bear in mind that they are still unbelievably low regardless, but it’s supply and demand.”

Rupi Hunjan, CEO at Censeo Financial, added, “It’s a volatile lending market, and at the moment a lot of people will be disappointed if they think they can get a mortgage with a 5% deposit, even though there are some around. I expect that 85%, with some 90%, will be the norm for the foreseeable future, but 90% should be back.”

At the time of writing these were some of the top options for someone buying a £200,000 home: 100% mortgage – no, you are not dreaming, there are indeed a couple out there, but they require a parent or relative to secure the loan. Buckinghamshire Building Society offers a Family Assist fixed rate at 3.59% until August 2023 with an £850 product fee.

Mansfield Building Society’s Family Assist range includes a three-year discounted rate of 3.05% with a £199 fee, while the ever-popular Barclays Family Springboard mortgage offers a five-year fix for 3.05% with no product fee.

95% mortgage – Once again, these deals require a parent or relative to help by providing equity or as a guarantor. Barclays Family Springboard five-year fix, 2.85% with no product fee. Family Building Society five-year fixed rate of 2.99% with £599 product fee. Mansfield Building Society

Family Assist, three-year discounted variable, 3.05% with £418 fee.

90% mortgage – HSBC fixed for 27 months, 1.89% with £999 application fee (or 2.14% without the fee). First Direct two-year fixed rate, 2.19% with no fee. HSBC fixed for 63 months 2.26% with £1,499 application fee (or 2.44% without the fee). First Direct Lifetime Tracker, 2.99% variable, £490 product fee.

85% mortgage – HSBC fixed for 27 months, 1.59% with £999 application fee. Platform fixed rate for 28 months, 1.64% with £999 product fee. West Bromwich Building Society, fixed for 63 months, 1.95% with £999 product fee. Nationwide Building Society 10-year fix, 2.79% with £999 product fee.

Those using Help to Buy have a smaller pool of lenders to choose from which means that rates are often slightly higher than for standard mortgages. At Barclays, for example, a regular two-year fixed rate mortgage at 75% LTV with no product fee is 1.7%, while the same mortgage for a Help to Buy transaction would cost 1.92%.

Help to Buy deals often seem to be hidden away and aren’t obvious on comparison sites, so you will either have to phone dozens of lenders or use a broker to be sure of finding the best deal. Pete Mugleston notes, “As professionals, we have sourcing tools that allow us to determine shared ownership and Help to Buy deals, but for consumers many resources are confusing and often jumble SO with normal products to the point of not being able to trust what you’re looking at. It’s worth speaking to a broker to find out.”

Shared ownership, which attracts an even smaller pool of lenders, has been far less affected by the crisis, says Rupi Hanjan.

In this market it is still normal to be able to borrow 95% of the share you are buying, although rates generally seem to be higher than for other types of mortgage.

EXPERT COMMENT Mortgages can be quite confusing at the best of times, with no real transparency for consumers on which they qualify for or what would be right for them. Add to this additional complexity around Help to Buy or shared ownership and it can make the calculations more complex.

While there are high street lenders offering deals, it can just be pot luck if you approach the right one yourself. Hence why a specialist Help to Buy or shared ownership broker is the best place to start, as they should already know what the lenders do and don’t accept, and should be able to match you with the best one. I think as distractions from the normal practice (payment holidays and valuation backlogs) subside, specialists and smaller lenders will have more capacity to focus on lending rather than admin, and the market could return to a more competitive state. Time will tell of course, but the market will land exactly where it is supposed to, despite pressure from the market and intermediaries on lenders to do

Some top deals at the time of writing: Help to Buy mortgage – Leeds Building Society Help to Buy, fixed until September 2022, 1.49% with £999 fee. Nationwide Shared Equity, two-year fixed rate, 1.54% with £999 fee and £500 cashback. Santander H2B Equity Loan, 1.54% fixed to October 2022 with £649 fee.

Shared ownership mortgage – The Melton Building Society Shared Ownership, fixed to July 2022, 3.19%, no product fee. Leeds Building Society Shared Ownership, fixed to September 2022, 3.19% with £1,499 fee (or 3.94% with no fee). Kent Reliance, two-year fixed rate, 3.99% with £399 fee.

more in higher LTV space. Risk and appetite will drive everything, and with the world still so uncertain, I think it’ll be a while before we see a raft of 95% deals.

Pete Mugleston Co-founder, Online Mortgage Advisor

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MARKET

How will the pandemic affect the property market?

So far 2020 has proved to be a year unlike any other. The Covid-19 virus has wreaked devastating impact upon many people’s lives, but, as the lockdown eases and we try to adapt to the “new normal”, just what does it mean for those trying to get on the property ladder?

THE ECONOMY AND JOB PROSPECTS The full effects of the pandemic won’t be understood until it is finally over, but figures released in May by the Office for National Statistics in its Labour Force Survey reveal the damaging effects it has already had on the economy. The ONS suggests that the number of employees in the UK on payrolls is down over 600,000 compared with March 2020. With many forced to seek benefits, the claimant count has continued to rise, and enhancements to Universal Credit as part of the UK Government’s response to the coronavirus has seen an increase in the number of people eligible.

Meanwhile, the number of vacancies in May has fallen to a record low. The data, covering the period up to 30 April 2020, reveals weakening employment rates, particularly among the self-employed.

The biggest changes are in the number of people temporarily away from work, including furloughed workers, which rose

by six million at the end of March into April. Pay too has slowed, with a fall in real terms for the first time since January 2018 and especially in industries which have the most furloughed workers such as the hospitality sector.

THE PROPERTY MARKET Job security will undoubtedly continue to affect buyer confidence but, if you are in a secure job or sector, is now a good time to try to buy? Recent figures from RICS UK Residential Market Survey looked at current property prices and sales as well as looking at what might happen in the long term and in terms of market activity. Following the reopening of the housing market in England, on 13 May, unsurprisingly the study saw a slight improvement in the outlook for sales over the coming 12 months across the UK as a whole. The survey also examined how buyers’ wish lists may have changed as a result of the pandemic.

As the housing market in England

started to get going, buyer enquiries moved from a record low of -94% in April, up to -5% in May. Most of us trying to get on the property ladder will want to know just what is happening to property prices and the survey’s headline UK price indicator showed that prices had moved deeper into negative territory, representing the weakest monthly figure going back to 2010. Looking ahead, the survey revealed that “price expectations remain downbeat” with many survey participants anticipating prices will fall over the year ahead.

WHAT ARE BUYERS LOOKING FOR? The study revealed that, post-pandemic, buyer expectations have shifted, with many new buyers looking for outside areas and green spaces. A total of 81% of respondents across the UK felt that there will be an increase in desire for properties with gardens or balconies; 74% predict an increase in demand for homes near green spaces; and 68% believe that properties with

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MARKET EXPERT COMMENT There are already signs that those looking to buy a house are responding to the conditions created by the pandemic by seeking out properties with gardens or balconies and nearer green space. These and

greater private and less communal space will become more desirable.

At the other end of the scale, 78% of respondents sense there will be a fall in the appeal of tower blocks and 58% feel properties located in highly urban areas will be less enticing. Interestingly, the majority expect no change in the desirability of homes located near transport hubs. These figures apply only to England as, in Scotland, Northern Ireland and Wales, restrictions on estate agents were not removed in May.

CAN YOU GO AND VIEW? Estate and lettings agencies are now open for business but anyone looking for a new home to rent or buy faces strict social distancing measures around viewings and are asked not to touch anything and to wear protective clothing such as gloves and masks. Some agents are reporting that new build homes or properties which are currently empty are proving popular as they are perceived as being safer.

GOVERNMENT RESPONSE TO THE HOUSING CRISIS During the pandemic the Government announced several measures to aid the housing crisis including ordering local authorities to end rough sleeping by temporarily housing those sleeping on the streets. In order to try to meet its targets for more affordable homes, Homes England, the Government’s housing agency, has revealed that it acquired 19 sites in the last financial year worth £180m, with the land having the capacity for 5,000 new homes across the country.

Of these 19 sites, several major acquisitions were completed in the lead up to financial year-end, demonstrating, the agency explains that it is “taking a longterm view of housing demand in the context of the Covid-19 pandemic and continuing to develop a strong pipeline of projects to support the recovery of the housebuilding sector”. Homes England says that it is able to buy what it calls “challenging or stalled sites” which have been unable to progress without public sector intervention and use its resources and expertise to unlock them for development and bring them back to market, ultimately resulting in muchneeded new homes.

For example, it recently agreed a £61m investment to begin the delivery of a new 6,500-home community at former MOD site Waterbeach in Cambridgeshire.

other similar features are likely to increasingly command a premium over higher density urban locations according to respondents to the survey.

THE RENTED SECTOR A survey last year by homelessness charity Shelter found that rental affordability was a major concern, even before Covid-19.

Its study found that almost three million renting households are “one pay cheque away from losing their homes”, with private renters paying a higher proportion of their income towards their housing costs in comparison to other tenures. The latest English Housing Survey shows that private renters pay 45% of their income against rent compared to 19% for owner-occupiers against their mortgage, and the majority of renters have little or no savings to fall back on.

In response to the pandemic impacting tenants who found themselves unable to pay thanks to job losses and loss of income, the Government introduced a ban on evictions which currently runs until the end of August. Some housing organisations have expressed concern that renters may be storing up future debt that they will struggle to pay.

According to the National Residential Landlord Association (NRLA), the eviction ban decision meant that some landlords would face five months without receiving any rent as they can take no action against tenants who were not paying before the lockdown started. The NRLA suggested that this would cause “exceptional hardship for a number of landlords” and could result in them leaving the market. In 2019 the number of BTL landlords hit a seven-year low according to Hamptons International.

Simon Rubinsohn Chief Economist, RICS

EXPERT COMMENT The Government should be looking at long-term solutions as well as shortterm sticking plasters when it comes to fixing the UK housing market. Millions of Brits were already renting, and that number was predicted to grow anyway with or without coronavirus.

The disruption caused by coronavirus will likely see rental demand grow, as banks squeeze potential buyers with tighter lending restrictions and people put off buying or selling a home as it becomes clearer Covid-19 will cause continued uncertainty and disruption in the medium term.

Mary-Anne Bowring MD, Ringley

EXPERT COMMENT It’s important to understand that asking prices are not the same as sold prices and we may well see downward pressure on these as the effects of any post-Covid slowdown are felt. Predicting the best time to buy

MORTGAGES AND LENDING

in any market is nigh-on impossible.

First time buyers may be eagerly watching the property market and hoping that prices will fall, but experts suggest that they might still not benefit as lending will become more restricted. A potential downturn in the economy, if it continues, could make banks and mortgage companies less likely to lend in case property prices fall further.

Buyers could find themselves needing larger deposits to act as a buffer if prices fall further to ensure that they don’t end up in negative equity.

5% higher or lower in six months’

We cannot know if prices will be time. However, with interest rates at historic lows, it is certainly a relatively affordable time to buy your first home presuming you have some job security over the coming years.

Matthew McDwyer Founder, Bricks&Logic

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EXPERTS

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

THIS MONTH’S PA N E L O F E X P E R T S Sue Dance Sales & Commercial Manager, Grand Union Housing Group

Hopkin Man Head of Sales and Marketing, Octavia

Gemma Harris Assistant Director of Sales and Lettings, CHP

T E S T T H E PA N E L

We need your questions...

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

Email your questions to: lynda@firsttimebuyermag.co.uk

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Buying in London

Q

I have rented in London for 10 years and feel ready to buy my own place. London is such a wide area, property prices can be eye-watering and there’s so much choice around, I don’t know where to begin!

Rachel Penn, Camden

A

Taking your first steps on to the property ladder can be bewildering but it’s an amazing feeling when you finally get to turn the key and unlock the door to your first home (and no more sharing!). Some of the best things about buying in London are the many different types of property that are available and being close to so many great transport connections.

Start by narrowing down your search area and working out what is important to you? Do you want to be close to a tube station or railway station? What size property are you looking for? You tend to find that properties near tube stations are priced higher than those close to railway stations. If you look at developments out of

central London this could mean that you can afford a two bedroom property gaining that extra space.

Is there anything which is a no-no? For example, some buyers don’t like living on a large developments as they feel it’s impersonal and prefer something smaller with much more of a community spirit.

At Octavia we specialise in small new build shared ownership developments close to tube connections and close to great local amenities. We have a few developments coming up in west London.

One of them is Eden House in Hounslow, less than a minute’s walk from Hounslow Central underground station. It’s a short walk to Hounslow High Street where you can find popular stores. Lampton Park is situated close by providing much needed open space on your doorstep.

The homes are designed to maximise space with open-plan layouts, large windows and balconies. Prices start from £98,750 (based on a 25% share of a two bedroom apartment priced at £395,000).

Call 020 8354 5500 or email sales@octavia. org.uk to find out more.

Hopkin Man

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EXPERTS

Can we buy with shared ownership?

Q

My boyfriend and I were just saving up for a deposit to buy our first home together when the Covid-19 virus hit and both our jobs were affected. My boyfriend is a trainee architect based in Oxford and I am a mobile hairdresser and beauty therapist. My boyfriend was furloughed for the first four weeks but is now back at work full time, working from home, and obviously my income has been affected as I’m self-employed. We are now thinking that shared ownership could be an option for us – do you think we could qualify?

Leanne Andrews, Slough

A

Shared ownership is a great solution for a couple with differing salary ranges as the maximum income cap is for the annual household together and therefore allows flexibility. Outside of London the cap is £80,000 or inside London it is £90,000. Also, you will only need to provide a 5% deposit of the share you are purchasing, so you will likely reach your goal much sooner than buying on the open market!

Speak to an independent financial adviser who specialises in shared ownership to check you can qualify; as you are selfemployed you will need to provide two to three years of accounts.

For example, you could buy a 35% share of a two bedroom apartment in a rural setting at Banbury Road, Adderbury, for as

little as £74,375 (£3,719 deposit) with good access into Oxford for your boyfriend’s employment. Or, if you were willing to travel a little further north, you could buy the same share in a two bedroom semi-detached house for £77,000 with a £3,850 deposit. With both of these properties you could purchase more shares until you own 100%, as your careers progress and you can afford more. You pay rent on the balance you do not own, and this reduces as you buy more shares. Good luck with your search.

You can find out more details at grandunionliving.co.uk Sue Dance

Is now the time to buy?

Q

I am really interested in buying a shared ownership home, but I’m unsure as to whether now is the time to buy given recent events and the likely impact on the housing market post-Covid-19?

Jade Lovitt, Colchester

The full impact of Covid-19 on the housing market is yet to be understood. What we do know is that providers of shared ownership are currently experiencing extremely high levels of interest in shared ownership homes for sale across the country. This would suggest to us that people have used the time in lockdown to reassess their housing situation and have made the decision to move, or at least to investigate the possibility of moving. We are seeing positive signs at this early stage, albeit it’s far too early right now to predict what may happen over the coming months.

At CHP we have a fantastic range of one, two and three bedroom apartments and houses for sale across Essex in great locations to suit everyone. What has stood out to us the most is the interest we have received in our homes in more rural locations with private gardens, good access to outside space or both!

A

My advice to you would be to look at the different web portals advertising shared ownership homes for sale in your desired location including helptobuy.gov. uk and propertybooking.co.uk (and chp. org.uk of course!).

If there are homes that catch your interest I would recommend that you contact the provider for more information.

It may be that you have your own mortgage lender or independent mortgage adviser in mind, alternatively you can ask the provider to give you the details of its panel of mortgage advisers who specialise in

shared ownership. Either way they will be able to confirm affordability with you and you can then talk things through with them to help you make an informed decision as to whether you proceed to buy a home now, or wait until you feel more comfortable with the idea.

Buying a home is one of the biggest investments you will ever make in your life, so it’s really important that you gather all of the information available to you before making your choice. Happy house hunting!

Gemma Harris

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

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

FIRST STEPS

ARE YOU ELIGIBLE FOR A GOVERNMENTBACKED SCHEME? The Government backs several schemes to help people get on to the property ladder. The best known is the Help to Buy: Equity Loan, which is open to all buyers purchasing a new home costing up to £600,000 from an approved provider. There are no income restrictions and you can use it to upsize, but not to buy an additional property. For more details, contact a Help to Buy Agent. There is also shared ownership, which is open to families with a household income of up to £80,000 (£90,000 in London).

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 house builders.

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

FUNDING OPTIONS

JARGON EXPLAINED

G O V E R N M E N T- B A C K E D SCHEMES

EQUITY LOAN

Help to Buy: Equity Loans The Government provides equity loans of 20% of the full property value (40% in London boroughs). The loan is interest free for the first five years with interest at 1.75% in year six, rising by RPI (retail price index) inflation plus 1% after that. The loan must be repaid when the property is sold or within 25 years. You will need to raise a deposit of 5% and a 75% loan-to-value (LTV) mortgage. New build homes priced up to £600,000 can be bought. The current Help to Buy: Equity Loan Scheme runs until the end of March 2021 and will be restricted to first time buyers after that.

This is a Government loan for a percentage of a property’s value (20% outside London, 40% in London). If you remain living in the property, you repay the equity loan within 25 years. If you sell the property, you repay the percentage of the property price the loan was for. For example, if the equity loan was originally £30,000 on a £100,000 property (30%) and you sell the property for £200,000, you’ll have to repay £60,000 (30% of £200,000).

Shared Ownership or Part-Buy, Part-Rent The Government shared ownership scheme is available for households with an income of up to £80,000 (or £90,000 if buying in London.)

The scheme allows you the chance to buy as little as a 25% share in a property and pay a subsidised rent on the rest. Rent is calculated at 2.75% (sometimes less), with annual increases of RPI + 0.5%. In most cases, you can buy more shares after you move in with the opportunity to own the property outright.

This is called staircasing. 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.

There are a few less well known Governmentbacked schemes; more details of these can be found on ownyourhome.gov.uk:

Rent to Buy or Intermediate Rent With this scheme you rent a newly built property for up to five years and pay a reduced rent. This gives you time to save up for a deposit so you can apply to buy a share of the home later. Homes available with Rent to Buy are few and far between.

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.

Older People’s Shared Ownership (OPSO)

PRIVATE INITIATIVES

*NEW!* First Homes

Some builders offer incentives on new build homes such as cashback, free legal fees, help with moving costs or money towards Stamp Duty. Some developers may offer shared equity, a private version of shared ownership.

This is a new option announced by the Government in late 2019. With First Homes, first time buyers and key workers will be offered discounts of 30% on new build homes. Further details are awaited.

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)

HOMES ENGLAND This is a Government organisation tasked with increasing housing supply. They also fund affordable homes including Help to Buy.

STAIRCASING If you buy a home with shared ownership, you will be given the right to buy more shares at any time 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 right from the moment you move into your new shared ownership home.

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

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

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.

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BUYERS’ GUIDE

The ftb process TIPS

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

F

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.

inance

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.

MORTGAGE BROKERS VS LENDERS You can apply for a mortgage via a mortgage broker (or financial adviser) or direct from a lender. A broker can look at the deals available and advise you which one would be best for your circumstances.

Some mortgage products are only sold through brokers, not directly to customers.

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

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

FINANCE

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

CREDIT SCORE

Make sure your credit rating is sound and there are no mistakes on your file, and pay off any debts you can.

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.

SHOP AROUND

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

RESEARCH

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BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

T

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

LOCATION IS KEY The first step is to shortlist the locations you feel you’d like to live in, then check if you can afford the house prices in those areas.

It’s also worthwhile visiting places you like: it may be that there’s an up-and-coming hot spot just down the road you didn’t know about that’s much more affordable.

Ideally, you will have rented in the area before buying, but if this isn’t the case, at least spend some time there, check out the commuting time to work, and look at local pubs, shops and leisure facilities. Visit the area at night, too.

PROPERTY SEARCH Once you have found the right location, go online and check out what’s on offer.

Most homes are listed on property portals such as rightmove.co.uk, onthemarket. co.uk, or zoopla.co.uk, plus estate agents’ websites. Properties featured have pictures, descriptions and a floor plan, and DECIDE ON A LOCATION

Be practical.

Think about the commuting time and whether you can afford to buy in the area.

RESEARCH THE AREA

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

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.

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.

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

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.

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.

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

SEARCH

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

VIEWINGS

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

Take a checklist.

OFFER

If the market is slow, when making an offer, don’t be afraid to offer less than the asking price.

If the property needs work done, you can use this as a negotiating tool.

SURVEY

BUYING

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

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BUYERS’ GUIDE

BUYERS’ COSTS

B

uying process

SURVEYS AND VALUATIONS

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

SOLICITOR’S/CONVEYANCING COSTS (ESTIMATED)

£700-£1,500

LOCAL AUTHORITY SEARCH FEES (ESTIMATED)

£200-300

LAND REGISTRY FEES: For an existing property: For a purchase of £80-£100k £40.00

For a purchase of £100-£200k £95.00 For a purchase of £200-£500k For a new build property: For a purchase of £80-£100k £80.00

For a purchase of £100-£200k £190.00 For a purchase of £200-£500k £270.00

SOLICITORS

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.

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.

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.

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.

86

STAMP DUTY LAND TAX (SDLT) (UNTIL 31/03/2020):

£0-£500,000 Zero

£500,000 to £925,000 5% £925,001 to £1.5m 10% Above £1.5m12%

Example: on a £600,000 purchase SDLT would be £5,000 – 0% on £0-£500,000 and 5% on £100,000 (being the £100,000 above £500,000)

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

EXCHANGE AND COMPLETION

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

SOLICITORS

For a purchase of £500k-£1m £540.00

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.

TIPS

INSURANCE

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

MORTGAGE VALUATION £0-£300

SURVEY £300-£700

MORTGAGE BROKER’S FEE £0-£500

BUILDINGS INSURANCE £200-£300 annually

GROUND RENT (LEASEHOLD ONLY) & SERVICE CHARGES £100-£4,000 annually charges for maintenance of communal areas

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.

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.

£0-£1,500

New freehold homes may also have service/estate

TIME SCALE

SEARCHES

£135.00

For a purchase of £500k-£1m £270.00

REMOVALS

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

REMOVALS (IF REQUIRED) £1,000-£2,500

COMPLETION

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

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BUYERS’ GUIDE

Home buying glossary Confused by financial acronyms and industry terminology?

Buying your first house is daunting enough without having to decode property lingo. FTB’s homebuying glossary is here to make the process a whole lot easier to understand AGREEMENT IN PRINCIPLE

DISBURSEMENTS

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.

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.

APR APR stands for annual percentage rate.

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

EARLY REPAYMENT CHARGE

ARREARS

EQUITY

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

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

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

BROKER

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.

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

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

FREEHOLD

BUILDING SURVEY

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

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

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

COMPLETION The finalisation of the sale. Completion day is when 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.

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

GAZUMPING

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

HIGHER LENDING CHARGE If you take out a large mortgage on a property, some lenders 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.

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LEGAL

Who can legally help me buy my first home?

With house prices at record high levels, and salaries not keeping pace, it is widely accepted that it has become increasingly difficult for first time buyers to buy their first home. Here Adam Crawford, Partner at Prince Evans Solicitors LLP, looks at the alternative ways to buy your first home

BUYING WITH FRIENDS One option for buyers who cannot afford to buy a property alone is to choose to buy with friends. This is becoming an increasingly popular choice.

Things to consider 9 If you are considering buying with a friend then there are legal aspects you should consider before deciding if this is right for you, such as: 9 What deposit and initial contributions are you both making?

9 Will the mortgage/outgoings be split equally?

9 What happens when you wish to sell the property or if only one of you wishes to sell?

9 What happens if someone dies (morbid yes, but it must be considered)?

9 What happens if we fall out? How are future price increases shared?

When you buy a property with another person you hold the property as “joint tenants” or as “tenants in common” and it is important you take advice from a specialist conveyancing lawyer who will be able to explain the difference to you and the options available to you. In most cases of buying with a friend your lawyer will advise you to hold the property as tenants in common (where you can own different shares and the property does not pass to the survivor in the event of death) and may recommend you enter into a Declaration of Trust to reflect your ownership wishes and to address the questions above.

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

THE BANK OF MUM AND DAD The Bank of Mum and Dad is where parents (or another relative/friend) gift you money towards the deposit of the property you are buying.

Things to consider If you are fortunate enough to be in a position where parents (or another relative/ friend) are able and willing to gift you a deposit or part of it then you will need to consider the following legal aspects: 9 The deposit must be a gift and not a loan – if the money is a loan then it is highly unlikely any mortgage lender will accept this arrangement 9 Your parents (or whoever makes the gift) will need to sign a “gift” letter

confirming that the money is a gift and that they will have no legal interest in the property. This will be required both for your lawyer and the mortgage lender 9 Your parents (or whoever makes the gift) will need to provide evidence of the source of funds. This is not your lawyer being difficult but is to comply with Anti Money Laundering Regulations. Any lawyer will have to ask for this (as well as for any funds you are contributing).

This is evidenced by your parents (or whoever makes the gift) explaining where the funds are coming from and providing documentary evidence to support this. For example, if this was from their own property sale then they could supply evidence of the sale, if it is

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LEGAL

from their own savings from their salary etc they can supply several months bank statements showing the salary being paid into their account and the savings increasing. Your lawyer will be able to explain exactly what is required dependent on the nature of the gift  Your parents (or whoever makes the gift) will need to satisfy your lawyer’s identification requirements Finally your parents (or whoever makes the gift) would be recommended to seek independent legal advice if they have queries or require any advice relating to their gift.

MORTGAGE GUARANTOR It may be possible to have a relative or someone else as a guarantor to your mortgage. This is generally for people who the banks may be concerned cannot afford the mortgage payments alone. There are two options which are either “sole proprietor joint mortgage” – where the buyer(s) is named as the owner of the property but both are named on and liable for the mortgage or the more traditional mortgage guarantor where the mortgage and property are both in the sole name of the buyer(s) but with the guarantor guaranteeing the mortgage payments.

Things to consider  If buying with a mortgage guarantor then consideration needs to be given to the following points:  The mortgage guarantor will need independent legal advice as to the commitment they are making ie if the buyer defaults on the mortgage then the mortgage guarantor will be liable for the mortgage payments  There is a moral not just legal responsibility on the buyer to ensure they keep up the mortgage repayments.

A buyer who gets into difficulties with their payments and has to rely on their mortgage guarantor would risk causing a rather unpleasant breakdown in the relationship between themselves and the guarantor Buyers are advised to be honest with guarantors if they do get into or expect to get into any difficulties with payments.

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

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

The price will be set based on a RICS valuation. If a buyer is not found within this period then you can sell on the open market.  Restrictions – the shared ownership lease will prevent you from renting out the property. It must be your residence.

When you buy a shared ownership property you do not need to be a first

Prince Evans specialise in all aspects of new build property.

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

time buyer but you must not own another home (unless this is being sold) and you must earn less than the current maximum household income (currently £80,000 outside of London and £90,000 in London) This is just a very brief overview of shared ownership. Your lawyer will provide more detailed guidance (which is why you should ensure you use a lawyer with considerable expertise in this area).

HELP TO BUY: EQUITY LOAN A Help to Buy: Equity Loan is a popular product where the Government lends you up to 20% (or 40% in London) of the cost of your home – which can only be used for the purchase of a new build property. This means you will only need a 5% deposit to buy your property.

It is worth noting that the current scheme ends on 31 March 2021 and will be replaced by a new regionalised scheme (with regionalised caps on the purchase price and only available to first time buyers) in April 2021.

Things to consider Again, other articles will go into more detail but the following legal aspects should be considered:  No loan fees or interest is charged on the Equity Loan in the first five years (ie there is nothing for you to pay for five years)  After five years interest is charged at 1.75% and increases annually at RPI plus 1%  When you sell the property the loan must be repaid on the percentage basis ie if you have a 20% equity loan you will repay 20% of the property value at the time you sell (irrespective of whether prices have increased or decreased) To be eligible for Help to Buy you can be a first time buyer or a homeowner who is looking to move and sell your existing property (until March 2021 and then this is only open to first time buyers). The home you want to buy must be newly built with a price of no more than £600,000 (this cap will change and become regionalised after March 2021). You cannot sub-let the home and you must not own any other property at the time you buy.

This is just a very brief overview of the legal aspects of some alternative methods to take your first step on to the property ladder. It is important you take more detailed legal advice from a specialist lawyer before proceeding with any of these alternative arrangements.

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Directory HELP TO BUY - NORTH PlusDane Tel: 0300 790 0570 helptobuyagent1.org.uk Cheshire Cumbria Durham East Riding of Yorkshire Greater Manchester Lancashire Merseyside North Yorkshire Northumberland Tyne and Wear South Yorkshire West Yorkshire

HELP TO BUY - MIDLANDS AND LONDON bpha Tel: 03333 214 044 helptobuyagent2.org.uk

ZONES, HELP TO BUY AGENTS, HELP TO BUY PROVIDERS AND MORE...

HELP TO BUY - SOUTH Radian Tel: 0800 456 1188 helptobuyagent3.org.uk Bedfordshire Berkshire Bristol Buckinghamshire Cambridgeshire Cornwall Devon Dorset East Sussex Essex Gloucestershire Hampshire Hertfordshire Isle of Wight Kent Norfolk Oxfordshire Somerset Suffolk Surrey West Sussex Wiltshire

Derbyshire Herefordshire Leicestershire Lincolnshire London Northamptonshire Nottinghamshire Rutland Shropshire Staffordshire Warwickshire West Midlands Worcestershire

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USEFUL CONTACTS

ZONES, HELP TO BUY AGENTS & HELP TO BUY PROVIDERS – RECEIVE ADVICE ON PROPERTY FUNDING OPTIONS

NORTH

Shropshire Staffordshire

PlusDane

Warwickshire

Tel: 0300 790 0570

West Midlands

helptobuyagent1.org.uk

Worcestershire

Cheshire

SOUTH

Cumbria Durham

Radian

East Riding of Yorkshire

Tel: 0800 456 1188

Greater Manchester

helptobuyagent3.org.uk

Lancashire Merseyside

Bedfordshire

North Yorkshire

Berkshire

Northumberland

Bristol

Tyne and Wear

Buckinghamshire

South Yorkshire

Cambridgeshire

West Yorkshire

Cornwall Devon

MIDLANDS AND LONDON

Dorset East Sussex Essex

bpha

Gloucestershire

Tel: 03333 214 044

Hampshire

helptobuyagent2.org.uk

Hertfordshire Isle of Wight

Derbyshire

Kent

Herefordshire

Norfolk

Leicestershire

Oxfordshire

Lincolnshire

Somerset

London

Suffolk

Northamptonshire

Surrey

Nottinghamshire

West Sussex

Rutland

Wiltshire

ADVERTISE HERE Speak to our advertising team to find out the best ways to give your organisation maximum exposure.

Call 020 7258 0036 or email lynda@firsttimebuyermag.co.uk

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USEFUL CONTACTS HELP TO BUY PROVIDERS – OFFERING NEW BUILD SCHEMES, INCLUDING HELP TO BUY (SHARED OWNERSHIP) AND RENT TO BUY PROPERTIES

LONDON Catalyst Housing

Octavia Housing

BMA Property Group

Hastoe Housing

Optivo

octaviahousing.org.uk

bmapg.com

Association

optivo.org.uk

020 8354 5500

020 8942 4062

hastoe.com

0800 012 1442

homesbycatalyst.co.uk 0300 456 2099 Clarion Housing

Southern Home Ownership shosales.co.uk

0300 123 2250 Optivo

Chelmer Housing Partnership

optivo.org.uk

chp.org.uk

Home Group

originhousing.org.uk

0800 012 1442

0300 555 0500

homegroup.org.uk

0300 323 0325

myclarionhousing.com/

01235 515 900

Origin Housing

0300 555 2171 Sovereign Housing sovereignliving.org.uk

0345 141 4663

0300 500 0926

sharedownership

Origin Housing

CHS Group

020 7378 5638

originhousing.org.uk

chsgroup.org.uk

Housing Solutions Group

Association

0300 323 0325

0300 111 3555

housingsolutions.co.uk

orwell-housing.co.uk

Stonewater

0800 876 6060

0345 601 0030

stonewater.org

Estuary Housing Association

Orwell Housing

01202 319 119

estuary.co.uk

Paradigm Housing

Clarion Housing

0300 304 5000

paradigmhousing.co.uk

myclarionhousing.com/

Hyde New Homes

PA Housing

0845 337 4877

sharedownership

hydenewhomes.co.uk

pahousing.co.uk

Swan Housing Association

Fabrica

Peabody

020 7378 5638

0345 606 1221

0300 123 2221

swan.org.uk

fabrica.co.uk

peabodysales.co.uk

0800 783 2159

020 7021 4842

Crown Simmons

L&Q

Paradigm Housing

crownsimmons.org.uk

lqgroup.org.uk

paradigmhousing.co.uk

Thames Valley Housing

Gateway Housing

Places for People

01372 461 440

0300 456 9998

0300 303 1010

Association

Association

placesforpeople.co.uk

gatewayhousing.org.uk

01772 667 049

Estuary Housing

Metropolitan

Peabody

Association

metropolitansales.org.uk

peabodysales.co.uk

020 3535 2555

020 7021 4842

Moat

Places for People

Fabrica

moat.co.uk

placesforpeople.co.uk

0300 323 0011

01772 667 049

Notting Hill Genesis

Rosebery Housing

Flagship Homes

nhgsales.com

Association

0333 000 4000

rosebery.org.uk

020 8709 4300

0300 303 2500

tvha.co.uk

Sanctuary London

estuary.co.uk

Guinness Partnership

sanctuary-homes.co.uk

0300 304 5000

guinnesspartnership.com

0800 916 1444

0303 123 1890 Site Sales

fabrica.co.uk

Hexagon

site-sales.co.uk

0800 783 2159

hexagon.org.uk

020 8502 5758

020 8778 6699 Shepherd’s Bush Housing

flagship-homes.co.uk

Home Group

sbhg.co.uk

0808 168 4555

homegroup.org.uk

020 8996 4200

020 8607 0550 Town and Country Housing tchg.org.uk 01892 501 480 Worthing Homes worthing-homes.org.uk 01903 703 108

SOUTH WEST

01372 814 000 Aster Group

Nu Living Guinness Partnership

nuliving.co.uk

Sanctuary South East

buyanasterhome.co.uk

Southern Home

(South)

0800 819 9390

sanctuary-housing.co.uk

01380 735 480

Hyde New Homes

Ownership

guinnesspartnership.com

hydenewhomes.co.uk

shosales.co.uk

0303 123 1890

0345 606 1221

0300 555 2171

0345 141 4663

Islington and Shoreditch

Swan Housing Association

Housing Association

swan.org.uk

isha.co.uk

0300 303 2500

0800 131 3348 Cornerstone Housing

One Housing Group onehousing.co.uk

Soha Housing

cornerstonehousing.net

0300 123 9966

Soha.co.uk

01392 273 462

0300 131 7300 Thames Valley Housing L&Q

Association

lqgroup.org.uk

tvha.co.uk

0300 456 9998

020 8607 0550

Metropolitan

Wandle Housing

metropolitansales.org.uk

Association

020 3535 2555

wandle.com 0300 200 0120

Newlon Living newlonliving.co.uk

SOUTH EAST

0800 058 2544 Accent Group Notting Hill Genesis

accentgroup.org

nhgsales.com

0345 678 0555

0333 000 4000 Aster Group Nu Living

buyanasterhome.co.uk

nuliving.co.uk

01380 735 480

0800 819 9390

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USEFUL CONTACTS HELP TO BUY PROVIDERS Rooftop Housing Group

Accord

Nottingham Community

South Staffordshire

CURO

rooftopgroup.org

accordgroup.org.uk

Friendship Care & Housing

Housing Association

Housing Association

curo-group.co.uk

0800 042 1800

0300 111 7000

fch.org.uk

ncha.org.uk

ssha.co.uk

0300 123 1745

0800 013 8555

01785 312 000

01225 366 000 Sanctuary Southwest

Acis Group

Elim Housing

sanctuary-housing.co.uk

acisgroup.co.uk

Home Group

Orbit

Waterloo Housing

elimhousing.co.uk

0800 131 3348

0800 027 2057

homegroup.org.uk

orbit.org.uk

Association

0345 141 4663

0800 678 1221

waterloo.org.uk

01454 411 172

0800 435 016

Severn Vale Housing

Bromford Group

Green Square

svhs.org.uk

bromford.co.uk

Guinness Partnership

PA Housing

greensquaregroup.com

01684 272 727

0330 123 4034

(Northern Counties)

pahousing.org.uk

WM Housing Group

guinnesspartnership.com

0116 257 6716

wmhousing.co.uk

01249 465 465 Sovereign Housing

Caldmore Accord

Guinness Partnership

sovereign.org.uk

caldmoreaccord.org.uk

(Hermitage)

0300 500 0926

0300 111 7000

guinnesspartnership.com 0303 123 1890 Hastoe Housing

Stonewater

Clarion Housing

stonewater.org

myclarionhousing.com/

01202 319 119

sharedownership 020 7378 5638

Association

0300 790 6531

0303 123 1890 Places for People L & H Homes

placesforpeople.co.uk

landh.org.uk

01772 667 002 Accent Group

0345 309 0700 Riverside Housing

accentgroup.org

Metropolitan

Association

0345 678 0555

metropolitansales.org.uk

riverside.org.uk

020 3535 2555

0345 155 9029

hastoe.com

Westward Housing

0300 123 2250

westwardhousing.org.uk

Derwent Living Housing

Liverty

0300 100 1010

Association

Midland Heart

Rooftop Group

derwentliving.com

midlandheart.org.uk

rooftopgroup.org

01332 346 477

0345 602 0540

0800 042 1800

dchliverty.com 0300 123 8080

MIDLANDS

NORTH WEST

Adactus Housing Group adactushousing.co.uk 0300 111 1133 Arcon Housing Association

Places for People

Accent Group

East Midlands Housing

Muir Group

Sanctuary Midlands

arcon.org.uk

placesforpeople.co.uk

accentgroup.org

Association

muir.org.uk

sanctuary-housing.co.uk

0161 214 4120

01772 667 049

0345 678 0555

emhhomes.org.uk

0300 123 1222

0800 131 3348

0300 123 6000

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USEFUL CONTACTS HELP TO BUY PROVIDERS 0345 678 0555 CDS Co-operatives

0117 407 2415

cds.coop 0333 321 3030 Eden Housing Association

Acis Group

manninghamhousing.co.uk

Muir Group

acisgroup.co.uk

01274 771 144

muir.org.uk

0800 027 2057

edenha.org.uk 01768 861 400 Equity Housing

Guinness Partnership

Muir Group Broadacres

muir.org.uk

Places for People

broadacres.org.uk

0300 123 1222

placesforpeople.co.uk

01609 767 900

01772 667 002

equityhousing.co.uk 0300 123 4460

Association

0300 123 1222

Crucible Homes

placesforpeople.co.uk

Progress Housing Group

cruciblesalesandlettings.co.uk

01772 667 002

progressgroup.org.uk

0114 241 3430

(Northern Counties)

Equity Housing

togetherhousing.co.uk 0845 077 0027

Regenda Homes

equityhousing.co.uk

0303 123 1890

regenda.org.uk

0300 123 4460

0344 736 0066 Home Group

Guinness Partnership

sanctuary-housing.co.uk 0800 131 3348

Riverside Housing

(Northern Counties)

0345 141 4663

Association

guinnesspartnership.com

riverside.org.uk

0303 123 1890

Impact Housing

0345 155 9029

impacthousing.org.uk 0344 873 6290 Irwell Valley Housing

Home Group Sanctuary North

homegroup.org.uk

sanctuary-housing.co.uk

0345 141 1663

0800 131 3348

Association

Association

yhghomes.co.uk

lfha.co.uk

0845 618 5008

0113 386 1000

Knowsley Housing Trust k-h-t.org 0151 290 7000

thirteengroup.co.uk 0300 111 1000

Bernicia 0344 800 3800 Castles and Coasts 0800 085 1171 Erimus Housing Ltd 0300 111 1000 Guinness Partnership guinnesspartnership.com

stonewater.org

0303 123 1890

01202 319 119 Home Group Wakefield and District

homegroup.org.uk

Housing

0345 141 1663

0345 850 7507

Your Housing Group

Thirteen

0345 678 0555

(Northern Counties)

wdh.co.uk

0161 610 1000

accentgroup.org

Stonewater

Leeds Federated Housing

irwellvalleyha.co.uk

0800 131 3348 Accent Group

erimushousing.co.uk Sanctuary North

homegroup.org.uk

sanctuary-housing.co.uk

castlesandcoasts.co.uk Together Housing

guinnesspartnership.com

NORTH EAST

bernicia.com Places for People

0333 320 4555

Sanctuary North

Manningham Housing

Karbon Homes karbonhomes.co.uk

Your Housing Group

0808 164 0111

yhghomes.co.uk

YORKS/ HUMBER

Liverpool Housing Trust

Accent Group

lht.co.uk

accentgroup.org

L&H Homes

0845 618 5008

Places for People

landh.org.uk

placesforpeople.co.uk

0345 309 0700

01772 667 002

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First Time Buyer August/September 2020

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20 QUESTIONS Trudy Quinn is Head of Sales at Sage Housing, having joined in 2018 with over 15 years of experience, having previously worked with Peabody and Red Loft. She has seen the pipeline of homes grow rapidly since she started and says, “I am really lucky to work with a great team who share my passion for shared ownership and helping people buy their new home”

20 QUESTIONS With

Trudy Quinn

What room at home is your favourite?

My living room. It’s where we all sit and catch up, particularly when my son’s back from Uni. It opens on to the garden, so I get the best of both worlds. Being at the back of the house it’s relatively quiet too.

What’s your favourite gadget or technology at home?

I love my portable speaker which I got for Christmas last year. It goes everywhere with me – garden, kitchen, bathroom so I can enjoy my music wherever I am in the house.

What colour do you think everyone should have in their home?

We’ve gone with mostly grey (although my favourite colour is blue) as it goes with everything however you furnish the room. But colour is so personal, I would say go with whatever makes you happy.

Which three people would you invite over for a housewarming party if you could have any guests?

My lovely Mum who I still miss after six years. Victoria Wood, who I think was a genius writer and actress – her characters were wonderful, and Liza Tarbuck for her wit and choice of music. Her radio show on Saturday evenings is just fab!

What’s your favourite memory from your childhood home?

Staying up late with the adults at Christmas and learning to play pontoon with my Dad for old pennies. Family and friends would always be there and our home was full of laughter and wonderful smells of Christmas.

What interior trend do you hate?

Mirrored furniture. It’s too cold looking for me. I’d be driven mad by trying to keep it dust free and I’d be worried about dropping anything on it and breaking something.

Would you rather have a garden or a balcony?

A garden, every time. Having grown up in a 6th floor maisonette with a balcony, I really appreciated having my own garden and growing my own veg. I find gardening very therapeutic.

Do you prefer modern homes or period properties?

My first instinct was to say period – if you class my 1930s semi as period! Period properties have so much character, which you can’t build into a modern home. That said, I sometimes hanker after clean modern lines.

Would you rather have a library room or media room at home?

Media room (with a bookcase). As a family we like watching movies together, so this would be perfect, plus you can always switch the television off and read a book.

Would you prefer a luxurious bathtub or a sumptuous shower?

It would have to be a sumptuous shower. It is quicker, uses less water and a cold shower is great after a run or in the hot weather. I very rarely have a bath – I get too bored lying in it!

Would you rather live in the bustling city or in the country?

Now it would be the country where you can get away from the hustle of city life with a good long walk with the dog. I grew up and lived in south east London up until my late 20s, so have had the best of both worlds.

If you were buying a property overseas, in what country would you buy a home?

It would have to be France – which is our long term plan. Good weather, good food, good wine and only a short hop across the Channel if we need to come back home.

Would you rather have a bigger property or a better location?

A better location all the time. You can work on the property and improve or extend if possible, but if you’re not happy with the location there’s not much you can do to change it apart from move.

What is one thing you couldn’t live without at home?

My dining table. It‘s not just used at meal times, but over the years, it’s been used for studying, sewing, and now I’m working from home more, it’s my desk as well. We tend to pile all our paperwork on it, so if we can’t find anything it’s usually on the dining table!

What’s your favourite way to unwind at home after work?

Catching up with my husband over dinner. In summer I love sitting in the garden late into the evening chilling with a cuppa or something stronger (normally on a Friday).

What’s your favourite thing about your home?

We’ve lived in this house for 22 years and I love the fact that every room has so many memories. The south-facing garden is a bonus.

Where did you buy your first home?

It was a ground floor maisonette in Sidcup. I was so happy there and stayed for 16 years. I had wonderful neighbours and we all looked out for each other. I cried a lot on moving day!

What advice would you give a first time buyer?

Make sure you do your homework and get your finances in order.

Make a wish list and know what is an absolute must and what you’re willing to compromise on.

What are your views on shared ownership?

Shared ownership is an excellent affordable way of buying a new home; it gives people a chance to own their own home when purchasing on the open market is out of reach. Sage offers shared ownership throughout England, so chances are we have a home that is right for you and your budget.

What are your views on the property market?

All the signs are that the housing market is as strong as ever following the lockdown and demand is high for new properties. Our agents are reporting high levels of enquiries all over the country for our shared ownership homes and with lenders willing to lend, all the signs are really encouraging. sagehousing.co.uk

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