First Time Buyer – August/September 2021 by The Ultimate Guide Company

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY August/ September 2021 £3.95 firsttimebuyermag.com

WIN!

A DENBY IMPRESSION TABLEWARE SET WORTH £216

HALF-PRICE HOMES THROUGH A NEW GOVERNMENT SCHEME

WAYS TO GET ON THE LADDER

FURNISH FOR FREE!

“Make a budget and stick to it and don't overstretch yourself” Ginny Buckley

08>

TV presenter, Escape to the Country 9 771758 973014

FTB 01 Cover August-September21.indd 1

13/07/2021 15:29

FTB 02-03 Ed's-Letter August-September21.indd 2

13/07/2021 15:41

EDITOR’S LETTER

E D I T O R I A L – 020 3488 7754

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk Editor LYNDA CLARK lynda@firsttimebuyermag.co.uk Editorial Assistant DAWN HARKER Junior Editorial Assistant KATIE WRIGHT Creative Director RYAN BEAL Sub Editor KAY HILL Social Media DAWN HARKER, KATIE WRIGHT

Contributors CHRIS CLARK, DEBBIE CLARK, ADAM CRAWFORD, MARILYN DICARA, DAWN HARKER, KAY HILL, JONNIE IRWIN, LAURA DEAN-OSGOOD, LESLEY PRICE, HARRIET TONER, GINETTA VEDRICKAS, KATIE WRIGHT A D V E RT I S I N G – 020 3488 7754

Director of Advertising/Exhibition Sales LYNDA CLARK

Welcome I hope you have been enjoying the summer – the weather hasn’t been very settled, but let’s hope it picks up soon. It has certainly been a time of Football Fever and even though we were pipped at the post, it has brought so much enjoyment to the country. This delight and expectation reminds me of how first time buyers feel when they embark on their home buying journey. On pages 24-29 we highlight some of the ways you can get on the ladder. If you have already voted for our FTB Readers’ Awards 2021, thank you, but there is still time to go online and VOTE. This year, more than ever before, the competition is immense, with some truly inspirational developments and homes for first time buyers, and we really NEED YOUR VOTES! So please do go to ftbawards.com and choose your favourites – your vote really matters! There are some very new and interesting things happening in the housing market at the moment. The Government has announced the First Homes scheme, which will offer first time buyers discounts of 30%-50% on their first property. You can find out more about the scheme on pages 30-32. I hope you find this issue useful as it is packed with information and help on buying your first home – enjoy!

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

Until next time, happy house hunting

@firsttimebuyer

firsttimebuyeronline

Accounts accounts@ultimateguidecompany.com Managing Director SARAH GARRETT sarahg@spmgroup.co.uk Public Relations RACHEL COLGAN

If you work for the NHS we would love to give you a year’s free subscription to the magazine – simply email us from your NHS email at nhs@firsttimebuyermag.co.uk with your name and address and you will receive six free issues

rachel@building-relations.co.uk SUBSCRIPTIONS 020 3488 7754

EDITOR’S PICKS…

While asking prices are still rising, they are doing so at a markedly lower rate.

SWITCHBOARD 020 3488 7754 All advertising copy for October/November 2021 must be received before 7 September 2021. 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 2008-2021. 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.

This is a remarkable location! To be close to Battersea Park and the river would be a dream come true. Fiona Seccombe, House Hunter, page 16

Jonnie Irwin, Jonnie’s World, page 9

When you view a house make sure you look at its potential as that is so important. Sophie Bertrand, At home with, page14

I personally wouldn’t enter into the property market for a short term gain.

To make things even simpler, we can recommend mortgage advisers and solicitors who are experts in new build homes. Daisy Flint, Developer’s Doctor, page 18

Gemma Harris, 20 Questions, page 130

First Time Buyer August/September 2021

FTB 02-03 Ed's-Letter August-September21.indd 3

13/07/2021 15:41

CONTENTS

AUGUST/SEPTEMBER 2021 / ISSUE 90 / FIRSTTIMEBUYERMAG.CO.UK

What’s in… 66

Shared ownership helped Maureen have a great start on the property ladder. After getting married when she was 17, she wanted a place that she could call her own, but with her and her husband on minimum wage, buying a property seemed a long way off. Having nearly given up hope, two years later they heard about shared ownership and managed to buy a two bedroom home in Colchester from CHP. Later on, when her circumstances had changed, Maureen was able to use the equity she had built up in the home to buy a three bedroom house on the open market.

For sale HOMEPAGE

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

10 FTB loves… A round up of our favourite hot buys.

12 Living Be inspired by bright pinks, funky fruits and lots of outside showerresistant seating, to create your own

tropical cabana feel at home to enjoy whatever the weather.

14 At home with… Sophie Bertrand Forking Wellness is the debut book from nutritionists, Instagram powerhouses and podcast hosts Sophie Bertrand and her great friend Bari Stricoff. The book is a guide to health and nutrition, including 45 recipes, which goes back to basics, enabling the reader to make more balanced choices. Lynda Clark talks to Sophie about her first steps on the property ladder, how her interest in food first began and what her future plans are.

16 House Hunter We try to find Fiona and Tim Seccombe a one of two bedroom home in London.

18 Developer’s doctor Daisy Flint, Field Sales Executive for Gleeson Homes, answers your property question.

FEATURED

20 The View: Ginny Buckley Ginny Buckley is a TV and radio presenter, writer, actress and broadcaster. She has had a very exciting career both in the UK and Australia and has been a presenter on BBC1’s Escape to the Country since 2015. Her main passions are travel, cars and property and she has had a fascinating life and career. She talks to Lynda Clark about how it all began, her first home and gives some excellent advice for first time buyers.

24 Getting a leg up on the housing ladder

homes are available under the various schemes.

30 Half-price homes? The Government recently announced the launch of the First Homes scheme which promises discounted properties to help local people and key workers buy in their home town. Kay Hill explains how it works and who is eligible.

If you are struggling to buy your first home there are many initiatives and incentives aimed at helping first time buyers. Debbie Clark highlights some popular options including shared ownership and Help to Buy, which offer an affordable way to get on the ladder and looks at what

First Time Buyer August/September 2021

FTB 04-05 Contents August-September21.indd 4

13/07/2021 15:40

CONTENTS GINNY BUCKLEY, PAGE 20

AS A FIRST TIME BUYER, YOU WILL HAVE NO CHAIN SO YOU HAVE THE TRUMP CARD!

Ginny Buckley

REGULARS

First Time Buyer Readers’ Awards 2021 A chance to view the shortlist for all the different categories, plus details of how you can cast your allimportant votes.

IMPRESSION ftbawards.com

101

Competition Win a stunning tableware collection from the Denby Impression range worth £216.

34 Hotspot

additional problem of having to furnish a home from scratch. Kay Hill looks at ways you can save and cut costs on furniture and furnishings.

We look at Park Royal as a place to live.

110 Market

WIN !

102 First home, first meal This delicious sweet potato, pepper, A CO ST Uand N mozzarella tart recipe Dspinach E N B L L EC T I N I N G TA B ON Ois fromYLakeland perfect for a picnic WO L E W F RTlunch. H ARE or a light

£ 21 6

103 Fast food It’s that time of the year to get the BBQ out and invite friends and family round to enjoy some al fresco dining. FTB has tried and tested the best barbecue food from the UK’s supermarkets to let you know which HOW TOtastiest. ones are the

E N T E R:

104 All you need to know

Answer the following about Stamp Duty question:

O N E COLLEC TIO N, E N D LES S P OS S I B I LITI ES…

Lesley Price FCILEx of CGM Limited gives a InHampshire which English breakdown County is on the options still available when it comes to paying Denby pottery Stamp Duty Land Tax. handcrafted?

106 Getting ready to buy a shared ownership home

Send your answer, with your full name, address and telephone number to:

Censeo Financial explains the steps lynda@firsttimebuyermag.co.uk involved when buying a shared Closing date: 6th September 2021 ownership home.

THE PRIZE…

Ginetta Vedrickas looks at this year’s Queen’s Speech, which contained several ideas to help the country recover from the pandemic by creating new homes and jobs, including legislation that could affect the property market.

112 Agony Agent All your property questions answered by our panel of experts.

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

120 Legal Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors, looks at the difference between buying a new build property and an existing one.

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

130 20 Questions We ask 20 quick-fire questions to

3 PRIZES OF A a property expert and in this issue 108 Finance DINNER SET FOR Gemma Harris, Head of Sales and Buying your first home is the biggest FOUR WORTH £216 Commercial Lettings at CHP is in the purchase you will ever make and COMPRISING: spotlight. time PLATES buyers may face the 4 first DINNER 4 SMALL PLATES 4 STRAIGHT BOWLS 4 PASTA BOWLS First Time Buyer August/September 2021 5 PLUS 4 MUGS

The serene and versatile colour palette of Denby Impression fits perfectly into 5modern interiors. You'll find contemporary FTB 04-05 dinnerware Contents August-September21.indd

Winners can select their choice from: Pink, Blue, Cream or Charcoal

13/07/2021 15:40

FTB 06-07 Mailbox August-September21.indd 6

13/07/2021 15:31

LETTERS

Mailbox NEW HOME SNAGS

FTB: Although at first glance a new build home can look absolutely perfect, even the best homes can have some issues. To put your mind at ease though, the vast majority of these issues, known as snags, are cosmetic and easily fixed. A snagging survey is recommended. This is where a professional will inspect your new house for any defects and then give you a snag list. You can then pass the list on to the builder who should then make arrangements to resolve the issues. This issue’s star letter wins an Oven Mate BBQ Clean and Protect Kit, £29.99, from Lakeland. Barbecuing can be a messy business, and nobody relishes the thought of scrubbing and scraping burnt-on food from the bars and sides of the grill once all the bangers and burgers have been devoured. This comprehensive BBQ deep cleaning kit is ideal for racks and internal areas and contains liquids, sponges, scraper and grill mats. It also comes with the Lakeland threeyear guarantee. lakeland.co.uk

Having recently visited the bank to talk about mortgages, I was offered a mortgage that comes with a mortgage arrangement fee. What does a mortgage arrangement fee actually cover and do all mortgage applications come with one? Faith Woodcock FTB: All fees associated with your mortgage should be outlined in your mortgage illustration

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

Soon I am going to be moving into my first ever home. Although I am very excited about it, I am a little concerned that I won’t be able to spot any defects in the property. What should I do? Estelle Beattie

WHAT IS A MORTGAGE ARRANGEMENT FEE?

WRITE TO US!

document which breaks down each fee, explaining what it is and how much it will cost you. A mortgage arrangement fee is what you pay the lender to set up your mortgage, and most mortgages will have one. The cost can vary significantly, although on average it will cost around £1,000. You can usually choose between paying the arrangement fee upfront or adding it to the mortgage, but it will ultimately cost more to do the latter as you will pay interest on it.

HOW MUCH CAN I AFFORD? After saving enough money for a decent deposit over the past few years, I feel I am in a position to start the process of buying my first home. How do I try to work out what I can afford to pay each month on mortgage repayments? Rory Petersen FTB: Although time consuming, it is good practice to work out what your monthly outgoings are each month rather than just guessing. A good way to do this would be to put everything on to a spreadsheet where you can include all your costs like travel, leisure, food etc. Also ensure you include costs such as council tax, phone, gas and electricity bills. Recent pay slips, bank statements and tax returns are all vital information that you will need, as any lender will need to know this information when you apply for a mortgage. They will then use this information and work out how much you can afford to pay each month.

PUTTING IN AN OFFER My partner and I think that we have found our perfect first home together. Our issue is that it is a little over our budget. Would there be any point in putting in an offer anyway? We aren’t sure if asking prices are fixed or if they are sometimes negotiable. Kristy Nelson FTB: There is no harm in putting in an offer under the asking price for a home. When you first meet an estate agent, try to downplay the amount you are willing to spend and do not make it too obvious that you think any property is “the one” as this will work against you. Estate agents tend to show you homes that go

a little over your budget limit, so you may find that an offer could be accepted. Try to appear quite flexible and seem ready to increase your offer as you may find that it works in your favour. Be prepared, though, for your offer to be rejected, especially if you can’t negotiate a higher price. You are not under any obligation to enter into further negotiations by putting in an offer, so there is no harm in trying, especially if you really have fallen in love with a particular property.

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

First Time Buyer August/September 2021

FTB 06-07 Mailbox August-September21.indd 7

13/07/2021 15:31

FTB 08-09 Jonnies-World August-September21.indd 8

13/07/2021 15:42

OPINION

Photo © Mike Prior

WORLD

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

I’m a fire-starter, a twisted fire-starter. It’s true; bonfires have always been a strangely ritual thing in my family. Take bonfire night or Guy Fawkes night; it was always a big occasion on the farm where I grew up. We would dump off-cuts and old trees on the unlit fire throughout the year until it would reach house-size proportions by 5 November. My dad was particularly keen on a special trick involving throwing red diesel from a big can on to the embers to get it going again and causing a mini explosion. Looking back, it was a little like the start of Casualty and how none of us ended up in A&E is nothing short of a miracle. Obviously, as kids, my sisters and I would love this and I’m confident it’s given us all a bit of pyromania from a young age. Whenever anyone has a bonfire, for whatever reason, the pictures go straight on to our WhatsApp group to much encouragement and congratulations. I was reminded of this over the weekend while I had a small bonfire getting rid of some garden waste. I looked at the petrol can in my shed and thought “no Jonnie, don’t be an idiot” (much to the relief of my wife no doubt). It’s this idea of pouring fuel on to the flames that I liken to the current Stamp Duty holiday. Without doubt, it’s been a great help to many first time buyers, but the effect it’s having on the market as a whole is quite worrying. The market right now is hot, perhaps the hottest I’ve seen in some areas (outside of London). The fact that FTBs normally have to stump up huge cash figures in addition to their deposit can add years to their savings plans, and the temporary holiday in these payments has been welcomed by most. The Stamp Duty holiday did its job in kick-starting the market out of lockdown, but extending it at a time when there are also ultra-low interest rates and the market is almost out of control seemed a little out of touch – metaphorically pouring fuel on to an already burning fire. Now before you accuse me of sermonising from my ivory tower I’ll give you an alternative view. Nobody predicted the market would go as crazy as it has, but when it did kick off, the extension should’ve been restricted to FTBs only. I’m writing this en route to film for Escape to The Country and with a very healthy budget of a million pounds, they won’t have to pay Stamp Duty on the first £500,000. This is ridiculous; buyers with this kind of firepower are exactly the people who CAN afford to pay Stamp Duty and so they are increasing their budgets accordingly – affording to pay more. This issue is compounded by a huge number of buyers out there that haven’t spent money on family holidays, restaurants or going anywhere for over a year and who are a bit tired of their own four walls so now want to spend the money they have inadvertently saved to move to places with more space. And so, the upward trend continues. Add to this the revenue in tax that the Government has seemingly turned its nose up at like an old pair of trainers and it looks like a knee-jerk policy that wasn’t really thought through. Don’t get me wrong, I’m not sermonising from my ivory tower. There is a real threat that the market will recalibrate its pricing from the top down, where the top end properties increase their price in line with demand and that trickles down through the middle market eventually inflating the price of FTB properties, which is surely the opposite of what we need? There is, however, some more promising news on the horizon. While property asking prices are still rising, they are doing so at a markedly lower rate. I know many of us will be lamenting the end of the Stamp Duty holiday, but the last thing we need is for the market to continually hurtle upwards like a runaway train – that never ends well. We will have to wait and see, but what you as a buyer can do in the meantime is persevere and keep communicating. With more and more anecdotes of vendors putting up the price mid-deal (it happened to me on the day of exchange), the best foot forward is to keep talking to the selling agent and keep hassling your conveyancing solicitor. Get the property over the line as soon as you can in a market where the competition is fierce. In the meantime, I live in hope that someone with some property background can advise the Government on a well thought-out scheme where FTBs are solely favoured and assisted that works alongside the current provisions of Help to Buy and shared ownership. Will it happen? We’ll see…

First Time Buyer August/September 2021

FTB 08-09 Jonnies-World August-September21.indd 9

13/07/2021 15:42

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

Saucy Sorbet

to Desk e l b a t Dinner be expensive, so Being a first time buyer can rpose is a great ti-pu mul is that iture furn ing gett ctical design pra This h. cas e way to save som sh coffee table to a styli a from ms sfor tran kly quic perfect for working from low desk, or dinette table, t of your favourite home or having dinner in fron in a range of wood es com e tabl Netflix series. The ons. opti finishes, as well as in two size Go Modern 0, £82 e, tabl l ona Chaves multi-functi gomodern.co.uk

Häagen-Dazs’ new summer range of cocktail-inspired ice creams has us wishing we were on a beach in the Costa del Sol. While summer holidays still look to be off the cards, these new flavours will get you in the summer spirit. The exotic and refreshing lime Mojito sorbet is infused with a touch of rum for an adult treat, plus it’s vegan! Alternatively, the creamy coconut Piña Colada ice cream is a luxurious and indulgent way to spoil yourself. Lime Mojito and Piña Colada ice cream, £4.99, ASDA asda.com

There’s no place like home

You don’t need to be caught up in a twister to remember there’s no place like home. This rainbow door mat from Red Candy is the perfect welcome back after a long day on the yellow brick road (or just at work)! Just because you’re home, doesn’t mean you want to trek in any mud or munchkins. Rainbow doormat, £19.50, Red Candy redcandy.co.uk

Soul Sister Shots

Celebrate the friendships that last a lifetime. More and more people are buying their homes with friends or family, so why not be inspired by your soul sister, and accessorise your new home with Desenio’s new Soul Sister range? The collection is chic and stylish, with the prints available in a mix of neutral colours, black and white and with hints of blue. Soul Sister prints prints, from £8.42, Desenio desenio.co.uk

First Time Buyer August/September 2021

FTB 10-11 FTB-Loves August-September21.indd 10

13/07/2021 15:45

FTB LOVES

We love these metal prints from Wallsauce, created using environmentally friendly inks on aluminium panels. The company offers a wide range of designs, from elegant floral pieces to statement abstract art. The impactresistant panels feature vivid colours that won’t fade over time. They can transform any space and are perfect for livening up your living room. Simply pick your design and finish and your art comes ready to hang. Metal prints, from £65, Wallsauce wallsauce.com

All W ired Up Soda-licious

Why not have fizz at your fingertips and use a SodaStream to make your own sparkling water and fizzy drinks at home? You simply set up the SodaStream, add cold water, and press the carbonation button. You can even add concentrate, cordial or fresh juice to add flavour to your fizz. The SodaStream comes with three reusable bottles, reducing your plastic use. When your gas cylinder runs out you can replace the cylinder at full price, or refill it at a reduced cost, meaning you are helping the environment even more. SodaStream Spirit with gas cylinder cylinder, £109.99, SodaStream lakeland.co.uk

Reduce, Reuse, Recycle… Rug

Flooring Superstore has launched a new line of environmentally friendly rugs and runners made from recycled t-shirts. Here at FTB we care about the environment, so we love these rugs made entirely from waste materials, especially as for every square metre sold, Flooring Superstore saves 1.6kg of discarded products entering landfill. The rugs are not only eco-friendly, they are also hard wearing, low shedding and suitable for use with underfloor heating. The geometric patterned rugs are available in four neutral shades – fossil grey, midnight blue, Tuscan sun and slate grey. They also come in two sizes, as well as the runners in one standard size. Aztec runner runner, £26.99; Aztec rug, from £38.99, Flooring Superstore flooringsuperstore.com

Foli8 Indoor plants not only remove air pollution and allergens, but the greenery breaks up a room, and brings the outside in. Foli8 is the new online shopping destination for houseplants, allowing Brits to purchase houseplants from the UK’s leading plant stylists and biophilic designers. Set up by cousin duo Matt and Darrell Anderson, it is the only UK houseplant company to sell plants directly in 100% natural, compostable, coir pots – to help reduce plastic plant pot waste in the UK. Plants, from £9.50, Foli8 foli8.co.uk

First Time Buyer August/September 2021

FTB 10-11 FTB-Loves August-September21.indd 11

13/07/2021 15:46

Homepage LIVING

Havana Home

Babylon Garden shower-resistant cushion, £7, fleece picnic blanket, £5, and shower -resistant XL floor cushion with handle, £15; Good Vibes cushion, £10; bamboo side plate and bowl from £1; natural tray table with black legs, £25; stackable wine glass tumblers, £4; 10 light bulb string lights, £8; teal candle, £5; teal tassel cushion, £10, B&M

This hot summer weather might have you dreaming of margaritas and cabanas, but why not let that inspire your interiors? With bright pinks, funky fruits, and plenty of outside seating, you can create your own perfect cabana space at home. Perfect for enjoying the longer summer days and nights Set of two Lois garden armchairs, £129, M&S

Flamingo jug, £12, Next Pineapple stacking tumblers, £19.50, Oliver Bonas

Paisley outdoor cushion, £21, Freemans

Elements compact wooden bench dining set, £229; striped floor cushion, £14; Leaf Parrot water-resistant cushion, £8, Dunelm

Skandi Pop pineapple cushion, £6, Matalan

Vonhaus hanging chair, £35, I Saw It First

First Time Buyer August/September 2021

FTB 12-13 Interiors August-September20.indd 12

13/07/2021 15:51

Homepage LIVING French cane ball string lights, £12; black five-tier acacia wood planter ladder, £42; gold monkey planter with seeds, £15; terracotta footed pot large, £16; ochre footed pot, £10; black plant stand with shelf, £16; elephant citronella candle, £6; resin spider monkey, £20, Dunelm Freya bistro set, £89, Dobbies

PEP&CO Home succulents, £1 each, Poundland

Bee house, £14.99, Dobbies

Yellow Sass & Belle Busy Bee planter, £8, I Saw It First

Pink Flamingo watering can, £10, I Saw It First

Outdoor lemon and ivy fairy lights, £9.99 Lights4fun

Ipanema bar set, £175; Mid Century double planter side table, £22; Olmo black stoneware mug, £6; bubble glass tumbler, £3.50; solar grey rattan lantern large, £28; Curated Living solar caged bulbs, from £6, Habitat

La Hacienda Wela clay chiminea, £45, B&Q

Skandi Pop ice lolly mould, £2.50, Matalan

Large cabana bowl, £3, B&M CONTACTS » B&M bmstores.co.uk » B&Q diy.com » Dobbies dobbies.com » Dunelm dunelm.com » Freemans freemans.com » Habitat habitat.co.uk » I Saw It First isawitfirst.com » Lights4Fun lights4fun.co.uk » M&S marksandspencer.com » Matalan matalan.co.uk » Next next.co.uk » Oliver Bonas oliverbonas.com » Poundland poundland.co.uk

First Time Buyer August/September 2021

FTB 12-13 Interiors August-September20.indd 13

13/07/2021 15:51

Homepage LIVING

At home with:

Sophie Bertrand

Forking Wellness is the debut book from nutritionists, Instagram powerhouses and podcast hosts Sophie Bertrand and her great friend Bari Stricoff. The book is a guide to health and nutrition, including 45 recipes, which goes back to basics, enabling the reader to make more balanced choices. Lynda Clark talks to Sophie about her first steps on the property ladder, how her interest in food first began and what her future plans are FTB: Tell us about your first steps on the property ladder SB: I was renting in London when I met my future husband who at the time was living in Manchester. I decided to cut my lease short and we moved in with my parents so we could save to buy our own home. It took us two years, but eventually we managed to buy a one bedroom, one bathroom bungalow in Beaconsfield. It had been on the market for around six months when we viewed it, but as soon as we saw it we both knew it had loads of potential and we loved it. We are due to have our first baby very soon and we need more space, so we are moving back in with my parents for a few months while we have an extension built. FTB: How did your interest in food start? SB: When I was growing up I had no interest in food and I was a fussy eater. When I was about 15 I developed an eating disorder, which was very difficult. After years of therapy and self-development I finally had a better relationship with food. Having recovered, I then did a psychology degree followed by a Masters in Clinical Nutrition. I wanted to inspire people to make their own balanced choices to help them live healthier and happier lives, and this inspired me to blog about my experiences, which later turned into my business Sophie’s Healthy Kitchen. FTB: How did you meet Bari? SB: I met her when we were doing our Masters at University College London. We have a very laid-back sort of relationship and we used to sit next to each other during lectures and talk about nutrition and the food industry in general. Our friendship grew and we decided to do a podcast as we wanted to create a space for people to talk and share ideas. We were then approached to write the book, and jumped at the opportunity, as we wanted to educate people so they could learn how to find the balance between eating for health as well as eating for enjoyment.

FTB: Was it difficult for you to write the book together? SB: It went really well! We signed the agreement to write it in December 2019 and had to give the first draft in the following March, so it was a quick turnaround. We had to be very organised and we both wrote sections of it and would send our work to each other so we could read it and make any comments. We never argued, and when we tested the recipes we asked all our family and friends to try them as their feedback was invaluable. Bari is originally from America, so we had to decide on the use of certain words which are different in each country, like chips or fries! We published the book in October 2020 and it has gone really, really well considering we are going through a pandemic. We would have loved to do a proper book launch but we have postponed that until the autumn when we hope things will be back to normal. FTB: Tell us about your career? SB: As a qualified nutritionist, I have worked with leading brands in the food industry whether that be on a consultancy basis or recipe development, on various public health campaigns, and I work with clients on a one-to-one basis to help them achieve their nutrition-related goals in a safe environment. FTB: You are both very big on social media – tell us about that? SB: Social media takes up a great deal of time but it is so important. It has really

helped to build my business and create a space where you can express your opinion, which people may not agree with, but it’s great to hear other people’s ideas and views. I am not worried about how many followers I have, but I like to engage with people and start positive discussions. FTB: What are your plans for the future? SB: Well, with a baby on the way that will take up a lot of my time, along with the extension on the house, of course. We would love to write a second book together and we are always keeping an eye out for new research as you have to keep up-todate with what is going on. FTB: What advice do you have for first time buyers? SB: Save, save, save – you might have to give up some luxuries, social events, holidays and weekend getaways, but to get on the ladder you have to make sacrifices. Also prioritise what you really want and give and take elsewhere, as everyone has different ideas of what they need from a home. Finally, when you view a house, make sure you look at its potential as that is so important. Forking Wellness, published by Meyer & Meyer, is available both in paperback and on ebook through bookshops and online retailers @sophieshealthykitchen sophieshealthykitchen.com

“SAVE, SAVE, SAVE – YOU MIGHT HAVE TO GIVE UP SOME LUXURIES, SOCIAL EVENTS, HOLIDAYS AND WEEKEND GETAWAYS, BUT TO GET ON THE LADDER YOU HAVE TO MAKE SACRIFICES”

14 First Time Buyer August/September 2021

FTB 14-15 At Home With August-September21.indd 14

13/07/2021 15:52

Homepage LIVING

“WHEN WE TESTED THE RECIPES WE ASKED ALL OUR FAMILY AND FRIENDS TO TRY THEM AS THEIR FEEDBACK WAS INVALUABLE”

First Time Buyer August/September 2021

FTB 14-15 At Home With August-September21.indd 15

13/07/2021 15:52

“W PR BY CU W CU FE

Homepage FIRST RUNG

The

HOUSE HUNTER

What we found… THE BUZZING LOCATION No 4 Oxford Road Maida Vale, north west London

FROM £118,750*

THE ICONIC VIEWS Dockside at Millharbour Isle of Dogs, London

FROM £121,875*

This month FTB goes on the hunt with Fiona and Tim Seccombe who are after a one or two bedroom home in London

PROFILE

Names Fiona Seccombe, 28, and Tim Seccombe, 30 Occupations Web designer, Marketing Manager Maximum budget £150,000 Requirements A one or two bedroom home in London with a balcony or terrace, good transport connections, green spaces, shops and places to eat nearby

What they wanted… We are looking for a home in London after working and living overseas for three years. We came back to London in early 2020 and moved in with my mum in Peckham, south London. It was supposed to be temporary – then the pandemic hit! We stayed with mum while we both found remote work, and we’ve stayed there through the lockdowns, using the time to save for a deposit. We’ve all been happy with the situation, but we are ready to get ourselves a home of our own! As my mum is in south London, we’d ideally like to be within a 30-minute journey from her. After such a long time in lockdown, we are really looking forward to meeting up with friends and enjoying and exploring London again, so we’d like somewhere that helps us to do just that. Good transport links, cafes and parks would be nice to have within walking distance. We have just under £20,000 saved and are looking at a budget of £150,000 – so a shared ownership place would suit us.”

Located in London’s NW6, close to Maida Vale and buzzing Kilburn, the new homes at No 4 Oxford Road have a bit of everything. Overground and Bakerloo Line stations are within a two-minute walk, along with Kilburn’s high street. Paddington Rec, Kilburn Grange and Queen’s Park are among the green spaces nearby, while Maida Vale’s canalside bars are excellent. The one bedroom homes are in a boutique period conversion, with terraces for the apartments on the lower floors, and a pretty mix of period and contemporary features.

Canary Wharf and the Thames lie moments from the door at this new collection of homes in an iconic setting. The one and two bedroom apartments at Dockside have excellent views over the district and lie close to open spaces, shops and transport links. The properties have been thoughtfully designed, with bright open-plan living spaces, sleek fitted kitchens with integrated appliances, and private outdoor space. South Quay DLR is under five minutes on foot, while the immediate local area is home to restaurants, shops, gyms and a GP surgery.

nhgsales.com

*Based on a 25% share of the full market value of £475,000

*Based on a 25% share of the full market value of £487,500

What they thought… This small development feels really exclusive. We like the style of the period property, which is quite different to other developments in the area. The homes are beautifully finished, and there’s a good amount of natural light, too. Location-wise, it’s great for getting around! Kilburn is lively and fun, with a theatre and lots of places to eat, and the travel links are excellent. I’ll be working in the office three days a week soon, and getting into central London would only take 10 minutes from here.”

We love the urban feel here – there’s so much to do right on the doorstep, which is just our cup of tea. The river and docks are very near, and being close to that, as well as to the shops and cafes at Canary Wharf, would be fantastic. It’s also so simple to get south of the river – you can walk to Greenwich from here, so getting to my mum (or vice versa) would be pretty easy. We could afford two bedrooms here, which means more space for homeworking or having people to stay – a big plus for us.”

First Time Buyer August/September 2021

FTB 16-17 Househunter August-September21.indd 16

13/07/2021 15:53

Homepage FIRST RUNG

THE CONVENIENCE KING Lazenby Square Bermondsey, south London

FROM £135,000*

THE WATERSIDE HOMES Heron Quarter at Woodberry Down Manor House, London

FROM £106,250*

First choice! DRESS

THE SOUGHT-AFTER AD s The Windsor Apartment Battersea, south London

Set around a stunning courtyard, the new homes at Lazenby Square offer a tranquil retreat from city life, which lies just on the doorstep. The one, two and three bedroom apartments are bright and spacious, with balconies, and en suites in the bigger properties. These Zone 2 apartments are just a 15-minute walk from Tower Bridge, the river front, Borough Market and everything those areas bring for around-the-clock entertainment. Bermondsey Spa Gardens can be reached in under a minute, with supermarkets, shops and cafes slightly further.

Heron Quarter marks the latest shared ownership phase of the wider Woodberry Down development – a landmark project in north London. These one and two bedroom homes are set around the West Reservoir (now a sailing lake), providing waterside views and panoramic skyline vistas. Inside, the homes have stylish finishes including oak-effect flooring, tiled bathrooms and low energy lighting. Nature is close at hand, with wetlands just moments away, while trendy pop-ups, delis and cafes can be found in nearby Stoke Newington.

peabodysales.co.uk

nhgsales.com *Based on a 25% share

*Based on a 25% share

of the full market value of £540,000

of the full market value of £425,000

We lived in Bermondsey before we went overseas and we loved it. The proximity to Borough Market and the river is great, but it’s also close to Peckham, Brixton and Camberwell, so the choices for going out are secondto-none! The apartments are lovely and the central courtyard is great as you’ll always have somewhere to relax. We have plenty of friends nearby, so we’d never be short on company. The area is also changing for the better – so it’s exciting to see such positive growth.”

There’s so much green space here, it looks beautiful. This development really does seem to be an oasis of calm, and it would be amazing to be so close to wetlands and have a lake to sail on. We have heard so much about places like Stoke Newington and Finsbury Park as one of Tim’s colleagues moved here a few years ago. It sounds like a really cool place with a creative community and lots of young residents. It may be a few miles too far away from my mum for us, but it is a fantastic option.”

FROM £150,000*

the Park on the doorstep, and With beautiful Battersea es hom new se utes by foot, the Thames within a few min e and On n. atio loc le irab highly des occupy an exclusive and red sha ugh s are available here thro two bedroom apartment set ent pm part of a larger develo ownership, created as es have aped gardens. The hom dsc lan of within 2.5 acres n-plan ope h wit d, min in n living been created with moder space and age stor lt-in bui ies, con living areas, private bal m apartments gs. For the one bedroo quality fixtures and fittin £2,000 a ring Housing is offe in Radley House, Clarion a year! for d pai rge cha service John Lewis incentive and 1.co.uk windsorapartments-sw1 *Based on a 25% share of the full market value of £600,000

THE NEXT STEP

“We absolutely love the look of these apartments – the communal grounds and the amazing location. We are super-excited at the prospect of moving to Battersea and will get the ball rolling with mortgage applications and registering interest as soon as possible.”

This is a remarkable location! To be this close to Battersea Park and the river would be a dream come true for us. Not only do we get to come back to south London, but we would be in an area that we never thought we’d be able to afford to live in. The styling inside the homes is really impressive – the kitchens are very stylish, and we love the flooring, it is really good quality. Of course, the whole development looks great too – the communal gardens are amazing, and when we’re working from home it’ll be so handy to have a cafe right on the doorstep. This is a great place for seeing our friends, too – it’s easy to get across the river, and getting to my mum in Peckham will be a cinch!”

First Time Buyer August/September 2021

FTB 16-17 Househunter August-September21.indd 17

13/07/2021 15:53

ADVICE

Daisy Flint is a Field Sales Executive for Gleeson Homes, a housing developer that builds high-quality, affordable homes across the Midlands and North of England. With four years’ experience in the new build housing industry, Daisy works across a number of Gleeson developments in the Yorkshire region, which has given her plenty of knowledge of the area. Daisy is passionate about delivering exceptional service, always putting her customers first, and has been involved in Gleeson’s First initiative, featuring in sales training videos

I have been offered a job at The University of Sheffield – having lived in the South East all my life this is big move for me! I have done some research as I would like to buy my first home at this point. I think I can now afford to get on to the property ladder as prices are much cheaper, but I am at a loss as to what to do first. Could you help me to see if I can buy my first home on my own, and tell me what areas and developments you’d recommend?

Congratulations on your job offer! Sheffield is a great place to live, and you’re certainly right that house prices are cheaper in the North, compared with much of the South. At Gleeson we build affordable, quality homes for first time buyers just like you, with four out of five of our customers being first time buyers, taking their first steps on to the property ladder. All Gleeson homes are traditionally built brick semi or detached properties that include their own driveways and gardens. Gleeson offers a wide mix of house styles, including two, three and four bedroom homes, to choose from, all complete with open-plan kitchen-diners featuring French doors out to the garden. Buying a Gleeson home is nearly always cheaper than renting a similar property. A typical three bedroom Gleeson home costs just £81 per week for a mortgage, compared to £138 per week to rent a similar property. However, our homes are not only affordable to buy, they are affordable to run too – the average combined electricity and gas annual bill cost for a Gleeson home is just £721.05 per year, which equates to £60 per month, or £15 per week, the cost of a takeaway! This is £417 cheaper than the national average cost per year for electricity and gas and could be a saving of £11,775 over a 25-year mortgage term, just on your bills. It’s easy to get on to the property ladder with Gleeson. Over 95% of our homes fall

into the Help to Buy: Equity Loan price bracket. This means first time buyers can purchase their dream home with just a 5% deposit, and benefit from a 20% Government loan too. When using this scheme, many of our customers only have to take out a 75% mortgage, and their 20% Government loan remains interest free for five years. To make things even simpler, we can recommend mortgage advisers and solicitors who are experts in new build homes, who will be able to confirm your affordability and help with the mortgage application process. In terms of our Sheffield-based developments, I’d highly recommend

Daisy Flint, Field Sales Executive, Gleeson Homes

Monteney Park in Parson Cross. Sheffield is a vibrant and diverse city with lots to offer in the way of bars, clubs and restaurants, along with rural parks and walks – the Peak District is less than half an hour away. Monteney Park is just 20 minutes away by car from The University of Sheffield, meaning getting to work will be easy. Plus, there’s a bus stop right outside the development with a regular service that drops you just a six-minute walk away from your new place of work. Homeownership is possible with Gleeson, and we can’t wait to welcome you to the buzzing city of Sheffield.

Monteney Park, Sheffield

FROM

£151,9

Monteney Park in Parson Cross is an exclusive development situated on the outskirts of Sheffield, comprising stunning two and three bedroom homes, with prices starting from just £151,995. Located close to an array of amenities, including supermarkets, doctors, dentist, post office and Meadowhall shopping centre, this development is perfect for all buyers whether you are just starting your journey to homeownership, or are taking your next step in order to find your forever home. The development benefits from great commuter links – from Monteney Park you can be in the centre of Sheffield in just 15 minutes, with the M1 accessible in less than 20 minutes. Plus, Chapeltown railway station is only 2.5 miles away and has regular train services to Sheffield, Huddersfield and Leeds. gleesonhomes.co.uk

First Time Buyer August/September June/July 2018 2021

FTB 18-19 Dev-Doc August-September21.indd 18

13/07/2021 17:00

FTB 18-19 Dev-Doc August-September21.indd 19

13/07/2021 17:00

THE VIEW

Life in the fast lane! 20 First Time Buyer August/September 2021

FTB 20-23 The-View August-September21.indd 20

13/07/2021 15:55

THE VIEW

"IF YOU WALK INTO A POTENTIAL HOME AND YOU REALLY LIKE IT THEN DON’T SHOW YOUR FEELINGS TOO MUCH. BE VERY MINDFUL OF THE SIGNALS YOU GIVE OFF AND DON’T SHOW YOUR HAND TOO SOON"

Ginny Buckley is a TV and radio presenter, writer, actress and broadcaster. She has had a very exciting career both in the UK and Australia and has been a presenter on BBC1’s Escape to the Country since 2015. With a love of travel, cars and property, she describes her work as a "dream come true". She talks to Lynda Clark about how it all began, her first home and gives some excellent advice for first time buyers

First Time Buyer August/September 2021

FTB 20-23 The-View August-September21.indd 21

13/07/2021 15:55

THE VIEW

t’s a Friday afternoon and the end of a long week, but when I talk to Ginny she is brimming over with enthusiasm and passion. To say that her story is exciting is an understatement and I am very keen to hear all about it. Ginny was born in Rochdale in the north of England and has always considered herself a Lancashire lass. Her mother was a teacher and her father a builder who shared a passion for renovating houses, meaning the family moved home regularly. “We were a very close family and my sister, who now lives in Sydney, Australia, and I had a very happy childhood. My father loved football and cars and in particular VW camper vans; we were always going to VW rallies. I enjoyed school and especially English. I had an English teacher called Mrs Bentley who was very supportive and she knew I was keen to be a journalist. She had a friend who worked for BBC Radio Manchester who she spoke to, and as a result they asked if I would like to do some interviews for them. I was only about 11 but it was a fantastic experience and I ended up on the BBC children’s programme MultiColoured Swap Shop!” She had planned to go to university and take a degree in media, but before that Ginny wanted to take some time out and travel. “I wanted to go to America but my parents said it wasn’t safe for a girl of 18, so I ended up going to Australia. I went to the Gold Coast and arrived with £400, no credit card and no mobile phone, but I was so excited about the prospect of being there it never fazed me. I went on to Sydney and had a series of temporary jobs and then joined the local radio station as a junior reporter in the newsroom covering all kinds of stories. It was perfect and I decided to stay and never actually went to university in the end. Working in the newsroom was a big learning curve and it was a great way to learn – I was very keen and always volunteered to cover any story. I then saw an advert in an Australian newspaper for a children’s presenter on TV and decided to apply for it – I was overjoyed when I got the job!” Ginny returned to the UK for a holiday and during her time here she got a call from the BBC saying they were looking for a presenter for a Saturday morning children’s show called The 8.15 from Manchester and the game show segment, The Wetter the Better. She stayed with Granada television and worked as a local news reporter for Granada Tonight, and also presented on Granada Breeze, a lifestyle channel operated by Granada Television and British Sky Broadcasting. Like her father, Ginny is passionate about cars and bikes, and during her time with Granada she presented car shows alongside Richard Hammond who

"I WENT TO THE GOLD COAST AND ARRIVED WITH £400, NO CREDIT CARD AND NO MOBILE PHONE, BUT I WAS SO EXCITED ABOUT THE PROSPECT OF BEING THERE IT NEVER FAZED ME" went on to make his name on Top Gear. She also became Motoring Editor for the News of the World and was the first woman to get that position, which was quite something, especially then. “My three great loves are travel, property and cars. I always loved the show Holiday on BBC and I wrote to the producer and told them how much I would love to be a presenter on the show. I got an interview and ended up presenting it. I also fronted a spin-off called Holiday 10 Best which was aired on Sunday evenings on BBC1. It was a fantastic job and I spent several years crossing the globe and having some amazing experiences.” Following this, Ginny moved to London and worked for Sky News, but she found she missed the variety of being a freelance and decided to go her own way. She started presenting other flagship shows such as the BBC's Crimewatch and Watchdog, along with ITV’s prime time current affairs programme Tonight. Then in 2014 she joined the presenting team of Escape to the Country for BBC1 and is now filming her eighth series. “I absolutely adore the show and I have discovered so many wonderful places in the UK that I now love. My son and I always go to Cornwall every year and I love Shropshire and Herefordshire too. The programme has an incredible following and the viewing figures are phenomenal. It’s available to watch in 53 different countries and is on Netflix too – even my sister in Australia can watch it!” Ginny rented when she was living in Australia but when she came back to the UK in her mid-20s she bought her first home, which was an end-of-terrace house in Rochdale, her hometown. “It was a complete wreck and had to be gutted, but luckily my father helped with the renovations, which was great. I then bought a barn, which still had the cows living in it when I viewed it, but again we pretty much re-built it and completely modernised the interior. Next up was a two bedroom garden apartment in Primrose Hill, London, so I moved around quite a lot. The house I live in now was not really my favourite but it suited me and my son and we loved the village. I decided to put my stamp on it and had a kitchen/diner extension and I’m currently giving the bathrooms a ‘boutique hotel’ feel. We have been here for eight

years, which is the longest time I have ever stayed in a house. I have grown to love it and I can be in central London in half an hour so we have the best of both worlds – I have made my own Escape to the Country!” With so much experience in the housing market, Ginny has some excellent advice for first time buyers. “If you walk into a potential home and you really like it then don’t show your feelings too much. Be very mindful of the signals you give off and don’t show your hand too soon. It’s a much better idea to be non-committal even if you go outside and scream with delight! Do your homework and research – look at what other houses on the street are going for and don’t be afraid to walk away. Around a quarter of properties fall through, so don’t be disheartened – there will always be another house. As a first time buyer, you will have no chain so you have the trump card! Also, make a budget and stick to it and don’t overstretch yourself as it will cause no end of problems in the long run.” How Ginny manages to fit so much into her life is quite astounding. She is on the Board of Trustees for the Manchester United Foundation, where she works to engage and empower young people, with a particular focus on STEM and sport. They run programmes for young people, some from challenging backgrounds, on everything from healthy eating to employability, and Ginny has recently been involved with the launch of a book and football giveaway which aims to promote conversations around mental health in children and young people. She is also a great enthusiast of electric cars and runs Electrifying.com, a website which was launched in March 2020 after she assembled a team of electric and alternatively fuelled vehicle experts with years of experience in the automotive sector. The website helps often baffled consumers seek jargon-free advice about the switch to electric cars. She also works with the Department of Transport as an adviser helping to ensure consumers have all the information they need to help them make the switch. Finishing our chat, I am totally empowered by Ginny and her love of life, her gusto and sheer hard work – I am looking forward to watching her next episode of Escape to Country and I even might be tempted to buy an electric car!

22 First Time Buyer August/September 2021

FTB 20-23 The-View August-September21.indd 22

13/07/2021 15:55

THE VIEW

"THE HOUSE I LIVE IN NOW WAS NOT REALLY MY FAVOURITE BUT IT SUITED ME AND MY SON AND WE LOVED THE VILLAGE. I DECIDED TO PUT MY STAMP ON IT AND HAD A KITCHEN/DINER EXTENSION AND I’M CURRENTLY GIVING THE BATHROOMS A ‘BOUTIQUE HOTEL’ FEEL" First Time Buyer August/September 2021 23

FTB 20-23 The-View August-September21.indd 23

13/07/2021 15:55

WAYS TO BUY

GETTING A LEG UP ON THE HOUSING LADDER The high cost of renting combined with the increased reserve of lenders has meant that many millennials have a tough time getting on the property ladder. However, the Government is well aware of the issues and the tide is turning, with initiatives and incentives aimed at supporting first time buyers. Debbie Clark looks at the options Often, the biggest barrier is saving a large enough deposit. However, the initial layout may be less than you expect and, with the average cost of a mortgage significantly less than rental costs for most, it is definitely worth exploring all of the opportunities available to you. Here we look at a handful of popular options. Remember to look out for any incentives on offer from developers too, as they can make all the difference to affordability, particularly in the early days of homeownership.

SHARED OWNERSHIP Shared ownership is a Governmentsupported way to buy an apartment or a house. You buy as much as you can afford and pay rent on the remainder. Over time, if you choose to, you can buy the rest and own the property outright.

New build homes for shared ownership sale are available in most parts of England. Existing homes in more established communities are also on offer through housing associations’ resales programmes. Shared ownership is designed for people who cannot afford to buy a home that suits their household’s needs on the open market, mainly first time buyers. To be eligible, your gross household income should not be higher than £80,000 per annum (£90,000 in London). One of the biggest benefits of shared ownership is its much lower mortgage deposit requirements; these are calculated as a percentage of the share that you buy rather than on the full property value, making access to homeownership truly affordable for many. Rents for shared ownership properties are calculated at 2.75% (sometimes less) of the share owned by the housing provider. They are not market rents. They rise each

year by RPI (Retail Price Index) plus 0.5%. Shared ownership is changing and some new features were introduced in April 2021 and will be rolling out over coming months. For example, the minimum share available to buy is reducing from 25% down to 10% of the property value. A contribution by the housing provider of up to £500 per year towards certain repairs in the property’s first 10 years is another of its new features. One other is the option to buy more shares (this is called staircasing) adding an extra 1% each year to the portion that you own for a period up to 15 years. These new product features are all subject to conditions, and you will need to check with the housing provider to understand which ones apply. Shared ownership is a leasehold product; if you buy an apartment and, over time, you increase your share to 100%, then the

24 First Time Buyer August/September 2021

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 24

13/07/2021 15:56

WAYS TO BUY

BUYING OFF-PLAN

CASE STUDY

The idea of buying a home off-plan may seem a little daunting, but buying a home while it’s still under construction can actually have big benefits. Perhaps, most importantly, by getting in there first, you have your pick of the plots. You want the balcony that overlooks the park? The south-facing garden? The corner plot? It’s yours. No compromise. No meeting the neighbours when you move in and secretly wishing you’d bagged their place first! The same goes for the interior. Developers are usually very open to buyers personalising the specification if you get in there early enough. Depending at what stage of the build you purchase, you may be able to customise details such as wall tiling, flooring and style and colour of kitchen doors and worktops. Buying off-plan also crucially buys you time. Many first time buyers report that this has been a real blessing; as the initial savings they had are used to purchase the property, the additional time gives them the opportunity to save for all the extras that make that first property "home". Sheetal Smith, Sales and Marketing Director at Pennyfarthing Homes, said, “With demand for housing at an all-time high, buying a home off-plan is the best way to beat the competition. Our dedicated team are on-hand to provide buyers with help and guidance every step of the way, so they can feel assured their home is being crafted to the exceptionally high standard seen across all of our developments.” Most developments will have a show home and detailed artist’s impressions or models of the development as a whole, so you can get a feel for the finished product. You also get the added excitement of watching your dreams literally come to fruition!

apartment remains leasehold. If you buy a house and you staircase to 100%, then you will own the freehold of the house.

HELP TO BUY: EQUITY LOAN With Help to Buy, the Government provides equity loans to first time buyers enabling them to buy a new build property from a private developer. Outside of London, the loans equate to up to 20% of the property value; in London they are provided up to 40% of the value. The price of the property you can buy with a Help to Buy: Equity Loan is capped, with prices varying by region. In London, for example, the maximum property price is £600,000. In the North East, the maximum is £186,100. Mortgage deposits for Help to Buy: Equity Loan purchases are based on the full property value. Help to Buy: Equity Loans are interest free for the first five years, after which you will be charged an interest rate that starts at 1.75% of the loan amount, rising in April each year by CPI (Consumer Price Index) plus 2%. You can pay back all or part of the equity loan at any time. Repayments are calculated on the market value of the property at the time you pay off any of the loan. The loan must be paid off in full by the time you reach the end of the loan’s term (usually 25 years) or you pay off your repayment mortgage, or at the time you sell the property.

5% DEPOSIT MORTGAGES Mortgages at 95% loan-to-value have made an impressive comeback, thanks in part to the Government offering to underwrite these mortgages for lenders in a new guarantee

scheme. Many national lenders are now supporting the scheme, with more deals available all the time. This enables buyers to obtain access to 95% mortgages, meaning they need only save a 5% deposit. To be eligible, the property must be valued at no more than £600,000 and lenders are not lending on new builds. The scheme will run until December 2022.

GUARANTOR MORTGAGE Typically aimed at first time buyers, a guarantor mortgage is a home loan where a parent or a family member offers their savings as security against the loan, agreeing to cover the costs of the mortgage payments if you miss them. Guarantors are required to have savings, or a property, and a good credit score. They must also seek legal advice so they are aware of the financial risk they are taking. These mortgages are generally most suited to homebuyers who have a low income, a small deposit, a bad credit score and little or no credit history.

BUY WITH FRIENDS OR FAMILY If you are able to pool resources with a friend or family member, you could be closer to homeownership than you think. Living costs would be reduced by sharing the load and you would still benefit from any increase in house prices. If joint funds allow you to put down a 10% deposit, as opposed to a 5% deposit, you could even benefit from more competitive mortgage rates. Of course, you will need to be certain that you are happy to cohabit and have an agreement in place for what happens if and when your circumstances change in the future.

Will Towson, an IT technician, and Georgina Harrison, a nursery nurse, have moved into a two bedroom property at David Wilson Homes’ Fleckney Fields development. With a wedding planned for August, the couple, both 25, are delighted to have been able to move into their new home ahead of their upcoming nuptials. The couple each saved through a Help to Buy: ISA. Will said, “We were both living with our parents before, so we fortunately didn’t have many outgoings and saved up quite comfortably.” The couple hoped to buy a two bedroom property which would allow them the space they need and provide flexibility for the future. They were also keen to buy a new build. Will explains, “A first home is a big investment and we knew it would be good value for money. We didn’t like the idea of having to renovate a secondhand property and there’s the added assurance of having someone onsite should we need them for anything.” The couple purchased a Wilford-style home featuring a stylish fitted kitchen, a generous lounge and dining area, in addition to a downstairs cloakroom. Upstairs, there are two double bedrooms, a family bathroom and a storage area. Will and Georgina are from Market Harborough and Loughborough, but weren’t aware of what Fleckney had to offer before beginning their search for a property. Will says, “We didn’t know much about the area but the village is great for starter homes. There are shops, takeaways and nice walks through the fields on our doorstep so we’ve got all we need. The location of our home at Fleckney Fields is quite comforting as we’re surrounded by like-minded people. Our neighbours are also first time buyers and only a year younger than ourselves, which is nice.” Rachael Harrison, Sales Director at David Wilson Homes East Midlands, said, “We are delighted to hear Will and Georgina have settled in well at Fleckney Fields and we wish them the very best for their wedding and married life. Our growing community in Fleckney is a wonderful option for first time buyers and growing families alike with a quintessential village location on offer."

First Time Buyer August/September 2021 25

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 25

13/07/2021 15:56

WAYS TO BUY

CASE STUDY

OUR PICK OF HOMES ON THE MARKET FROM £180,000

VERWOOD, DORSET Potters Wood The chance to own a larger home for a fraction of the price was too good an opportunity to miss for first time buyers Hannah and Richard. The couple combined careful saving strategies with the Help to Buy scheme to secure a superb three bedroom property at Bellway’s Helios Park in Hawley, Hampshire – allowing them to take their first steps on to the property ladder. Hannah, who is 26 and works in military communications, and her partner Richard, 30, a scheduler for a diamond manufacturing company, previously lived with their respective parents in Ascot and decided to take the plunge and purchase their first home together with the aid of the Help to Buy scheme. Hannah comments, “We wanted to get on the property ladder as soon as possible and didn’t want to rent; so we saved for three years – cutting back on luxuries such as holidays, going out for dinners and unnecessary purchases. We used the Help to Buy scheme; which allowed us to look at a bigger property. “We wanted a new build so that we could use Help to Buy and also so that we didn’t have to be involved in a chain. We visited two other new developments before we came here. Help to Buy went really smoothly and required very little effort at our end. We had a little over a 5% deposit which took some of the weight off the mortgage.” The couple chose Helios Park due to its idyllic location: “It’s halfway between where we both work so we have a great commute. We’re also still close to our parents and friends, which was important to us because we didn’t want to move to an area where we didn’t know anyone. We didn’t want to lose our old life. It’s perfect for our dogs, Todd and Shevy too. There’s some really lovely woods lining the estate which is great for walking them. It just made perfect sense to move here. “We’d viewed a two bedroom townhouse at Helios Park before we found this property, but opted for the three bed on the basis that it has a much more social layout with the open plan kitchen/living area. We liked the idea of having someone cooking and still being able to chat and communicate with those in the living room. It also came with an extra bedroom which we’ve subsequently turned into a study; this is where Richard works. I work in the second bedroom, and the master bedroom is a work-free zone. This is a perfect set up for us given the current climate.”

Just minutes from the centre of Verwood, Potters Wood is a new, sought-after development in an idyllic countryside location, offering delightful surroundings to walk, cycle or relax. Encompassing one and two bedroom apartments, and two, three and four bedroom semi-detached and detached houses, there really is something for everyone. Homes are currently available to purchase off-plan. pennyfarthinghomes.co.uk/site/potters-wood 01202 403 144

HACKNEY WICK Fish Island Village

FROM £445,000

This award-winning development by housebuilder Hill and London housing association Peabody, has become a striking addition to this vibrant waterside neighbourhood. Fish Island Village occupies a well-connected Zone 2 location, with great transport links and green spaces moments from the development. Designed with community in mind, this unique canalside scheme comprises an eclectic mix of modern apartments surrounded by landscaped communal spaces where residents can access designated workspaces, a state-of-the-art gym and a concierge service. The development is just 10 minutes’ walk to Hackney Wick station and 15 minutes to the hub of Stratford. fishislandvillage.co.uk 020 3906 1950

ASHFORD

Chilmington Green

FROM £394,995

Barratt Homes at Chilmington forms part of Ashford’s first "Garden City", which will see a new development of up to 5,750 houses delivered by a number of developers, alongside a countryside park, secondary school, four primary schools, a supermarket, a new high street and a market square. Due to its close proximity to Ashford International station, the area is already appealing to Londoners, offering a rural setting with fast connections into the capital. At Chilmington Green, the new homes are surrounded by acres of green open spaces and parkland, and have been carefully designed around protected woodlands. A number of the new homes available benefit from both a private rear garden and a first floor balcony. A new phase of homes has just been released. Help to Buy is available on selected homes barratthomes.co.uk 0333 355 8502

First Time Buyer August/September 2021

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 26

13/07/2021 15:56

WAYS TO BUY

FROM £360,000

ROYAL ALBERT WHARF, E16 Gallions Place

Vistry Ventures has just launched Galyon Point, the first phase of the impressive new Gallions Place development in the Gallions Quarter; a new mixed-use community of homes, shops and restaurants and play areas. The eight-storey development is brick-clad, with terraces to some apartments, along with oakstyle, floor-to-ceiling windows letting in natural light. There is a selection of one, two and three bedroom homes available, each including fully integrated energy-saving A-rated appliances and boasting highquality finishes. Located in Zone 3, Galyon Point is moments from Gallions Reach DLR station, which has superb links into Canary Wharf and beyond; ideal for young professionals looking to invest in the Royal Docks. There is also a 12-hour concierge service, bicycle storage and car parking available in a separate negotiation. gallionsplace.co.uk 020 3993 7930

BIRMINGHAM

Manor House at Bournville Park

FROM £195,000

This iconic development is a replica of the former home of the founder of Cadbury’s which stood on the site. While in keeping with its original design, the one, two and three bedroom apartments are well suited to busy, modern lifestyles. Traditional high ceilings and large windows give way to light and airy interiors, with spacious open-plan living spaces perfect for young professionals and growing families. Many of the apartments at Manor House look out on to the surrounding green space, providing a peaceful and tranquil setting. With central Birmingham just a 20-minute drive, or 25-minute bus journey, away, residents are well connected to the city. The M40 is also just 15 minutes away by car. The Government-backed Help to Buy: Equity Loan scheme and Home Reach, Crest Nicholson’s part-buy, part-rent scheme, are available on selected properties. crestnicholson.com/developments/manor-house-at-bournville-park/ 01217 560 953

BOURNEMOUTH The Wessex

FROM £220,000

Occupying a prime setting just a fiveminute walk from Bournemouth’s iconic sandy beach and cliff top, the brand new one, two and three bedroom apartments at The Wessex enjoy a touch of coastal charm. Each apartment is finished to a high standard, with quality interiors, modern layouts and an impressive specification. Living/dining areas have been thoughtfully planned to maximise space, with open-plan layouts leading out on to private balconies for most apartments. Residents also have access to secure underground parking, allowing room for large expanses of landscaped green spaces and lawn areas. With homes ready to move into now, buyers can get the keys to their new home in as little as four weeks. inlandhomes.co.uk/developments/west-cliff-road 01202 096 864

CASE STUDY

"Building a Better Harrow", the £2.2m regeneration strategy from Harrow Council, promises 5,500 new and affordable homes, 3,000 new jobs, two additional schools, new public squares and green spaces, and a vast array of improved local amenities. First time buyer Nicholas Willison, a 33-year-old Revenue Director in the hotel industry, was one of the early purchasers at Barratt London’s Eastman Village; one of the largest residential developments in the area. He says, “After renting for many years in Putney, I knew I really wanted to get on the ladder. I did my research and attended a few Help to Buy events, narrowing down a handful of areas in London within my budget. Harrow was one of them, and by far the best for me. I liked the fast transport links, leafy residential atmosphere, and knew that with lots of redevelopment going on in the area, it would be somewhere that would just get better over the years.” Eastman Village stood out for Nicholas when he started to research new homes further. He was particularly impressed by the facilities, including an on-site gym and a large private balcony with each apartment. Nicholas took advantage of the Help to Buy scheme to purchase a spacious one bedroom, first floor flat at a guide price of £309,000. “The deposit was part gifted to me from my parents and a lot of my own savings,” explains Nicholas. “I put aside things like annual bonuses and had a set target to save from my salary each month.” His strict saving paid off and his mortgage payments are around half of what he had been paying in rent in Putney. Nicholas admits that Harrow wouldn’t have been his first choice of locations in London, but he knew he needed to be realistic, “Looking further afield and using the Help to Buy scheme was the difference between owning my own place and potentially not getting on the ladder at all.” However, living north of the river for the first time, Nicholas has been pleasantly surprised and he confirms that he is there to stay! “The diverse community feel within the development is a huge, unexpected advantage. There are families here, professional singles like me, and younger couples. Having a friendly community is so important, and the lockdown has just highlighted that for me.”

First Time Buyer August/September 2021

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 27

13/07/2021 15:56

WAYS TO BUY

CASE STUDY

PADDINGTON North Wharf Road

First time buyers Royston and Stephanie Rodrigues, both aged 32, are delighted with their new apartment at Barratt London’s Hayes Village development. Though getting there hasn’t been easy, it has definitely been worth it. Royston, who works as a freight rate calculator in the tanker industry, and Stephanie, a senior physiotherapist with the NHS, saved a sizeable deposit of £21,000 over three years. Royston says, “We had to make a few lifestyle modifications, and we lived with Stephanie’s parents for two years while we saved for our deposit using a stocks and shares ISA.” The couple stumbled across Hayes Village, on the site of the former Nestlé factory, last August. With a mix of original, converted art deco buildings and new apartment blocks tailored to fit in with the history of the site, the development will eventually provide 1,386 one to three bedroom apartments, set in more than nine acres of parks and green open space, all just a short stroll from Hayes & Harlington station which is soon to be served by Crossrail. The couple were looking for a two bedroom, two bathroom apartment so, even with their sizeable deposit, they needed a high loan-tovalue mortgage. Royston explains, “We had seen a mortgage adviser and were aware of what we could afford, but with the pandemic, 95% loan-to-value mortgages had almost come to a halt. Thankfully, the Government’s Help to Buy: Equity Loan was a great tool and that ‘topped up’ our deposit and reduced the loan-to-value of our mortgage.” As a result, the couple were able to buy their home first home off-plan for £431,000, including parking. Although buying off-plan made the couple a little nervous, having seen the show apartment and the model of the development they were able to envision what they were buying. They found the sales staff patient and supportive, answering all of their questions. The current phase at Hayes Village includes spacious apartments inside the classic art deco factory building itself, which was built in 1919 as one of a series of "daylight factories" by British architect Wallis Gilbert. Its huge, multi-paned metal windows and generous ceiling heights have enabled it to be converted into stunning, light-filled apartments.

FROM £187,500*

Octavia is offering one exclusive one bedroom apartment for shared ownership, placing a brand new home in prime Zone 1 Paddington within financial reach for an eligible first time buyer who lives or works in Westminster. North Wharf Road is in walking distance to Paddington Basin, the terminus of the Paddington arm of the Grand Union Canal. The area has seen significant regeneration during the past decade and is now home to a mix of smart new apartments and office buildings; the Paddington Basin has become something of a go-to destination, with a selection of waterside restaurants, bars, pop-up food fairs and events on offer. sharetobuy.com/developments/2486 020 8354 5500 *Based on a 25% share of the full market value of £750,000

ALPERTON

Vista Apartments

FROM £78,750*

These one and two bedroom shared ownership apartments are located just a five-minute walk from Alperton tube station and are ready to move in to. The Vista Apartments incorporate a fully fitted contemporary kitchen with white goods, high-specification flooring throughout and a modern bathroom featuring good-quality white suite and tiling. There is exciting regeneration well under way in Alperton, and with excellent local amenities the area offers all the convenience and connectivity of city living while providing the comfort of a suburban lifestyle. sharetobuy.com/developments/2068 020 8354 5500 *Based on a 25% share of the full market value of £315,000

CHARLTON Lime Works

FROM £120,750*

A selection of well-designed and highly specified one, two and three bedroom apartments are available to view at Victoria Way, Charlton. All homes will benefit from private outdoor space as well as pleasant communal grounds with landscaping and play areas. The development is situated between Greenwich Peninsula and Woolwich Arsenal, with quick access to local transport and a large retail park. Charlton station (Zone 3) is just an eight-minute walk, offering frequent trains into central London, with Woolwich Road just a few minutes’ walk for buses to North Greenwich, Lewisham and Peckham. Limited allocated parking is available to buyers, and one car club membership per household will be included for five years. optivosales.co.uk/lime-works 0800 0121 442 *Based on a 35% share of the full market value of £345,000

28 First Time Buyer August/September 2021

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 28

13/07/2021 15:56

WAYS TO BUY

BOW, EAST LONDON The Forum

FROM £92,500*

TUNBRIDGE WELLS 1887 The Pantiles

FROM £275,000

The Forum is an exclusive collection of 14 contemporary one and two bedroom apartments, located adjacent to the famous Roman Road in east London. The apartments are all designed for a relaxed modern lifestyle. Each home benefits from open-plan living, with lots of natural light from the expansive double-glazed windows, complemented by a modern specification including wood-effect flooring and fully integrated appliances as standard. There is also plenty of outside space as apartments benefit from spacious, landscaped courtyards and grounds, and some have their own private balcony or terrace. Bow Road, Bow Church and Mile End stations are all less than 1.5 miles away from The Forum and offer a choice of three tube lines and the DLR.

1887 The Pantiles by Dandara offers a collection of one, two and three bedroom luxury apartments with concierge service, and contemporary two bedroom mews homes, located in the heart of Tunbridge Wells, Kent. Properties have been designed to maximise space and light, while all homes have access to communal courtyard gardens and some apartments benefit from private balconies. High-quality internal features include fully fitted German kitchens with integrated appliances and two-way video access controlled from within the apartment. Ideal for commuters, Tunbridge Wells station is just a five-minute walk away and offers frequent services to London in less than an hour and easy journeys across Kent and Sussex. Help to Buy is available on selected homes.

newhomes.gatewayhousing.org.uk 020 8057 3232

dandara.com 01892 726 112

*Based on a 25% share of the full market value of £370,000

HARROW DRAYTON, HAMPSHIRE

FROM £285,000

Novo

Novo by Dandara is a new development of two, three and four bedroom family homes with private gardens, garages and/or allocated parking. Novo is located in a peaceful residential area, with great transport links to the A3 and M27. Cosham station is nearby, with regular rail services to Havant and Portsmouth, as well as direct rail links available to Southampton, London Victoria and Waterloo stations. The quality of schools is also a major draw for families looking to buy in the area. Help to Buy is available on selected homes. dandara.com 02394 275 869

Eastman Village

FROM £82,750*

Hyde New Homes’ new phase of Eastman Village, on the site of the former Kodak factory in Harrow, offers a selection of one, two and three bedroom apartments. Each boasts a high specification including contemporary kitchen units with integrated appliances, quality flooring, underfloor heating, private outdoor space, parking to selected homes and super-fast Hyperoptic broadband. Residents will enjoy a gym, currently in the planning stages, as well as cafes, restaurants and a supermarket. Families will benefit from the excellent array of schools. The development is 10 minutes' walk from Harrow & Wealdstone station with Bakerloo Line services to London Paddington in less than half an hour, as well as the Overground. Harrow-on-the-Hill station, a bus ride away, connects to the Metropolitan Line and National Rail. hydenewhomes.co.uk 0345 606 1221 *Based on a 25% share of the full market value of £331,000

First Time Buyer August/September 2021

FTB 24-29 Ed1 Get-on-the-Ladder August-September21.indd 29

13/07/2021 15:56

FIRST HOMES

HALF-PRICE HOMES?

Could you buy a new home with a 30-50% discount off the normal asking price? Kay Hill looks at the Government’s new First Homes scheme The Government’s latest plan to help eligible first time buyers on to the housing ladder is the First Homes scheme, which promises discounted properties to help local people and key workers buy in their home towns. Unlike Help to Buy, where the Government itself lends money in return for a share in the home, the new scheme makes use of the Section 106 agreements which local authorities use to insist that developers include in their plans a proportion of affordable housing (often around 30%), usually for rent or shared ownership. With First Homes, developers must make a quarter of these affordable homes available for discounted purchase – in other words, there won’t be a greater number of affordable homes built, there will simply be another tenure option (and probably fewer rental homes as a result). In addition, however, developers will be able to create “First Homes Exception Sites” where planning permission is likely to be given for developments on “unallocated land outside

of a development plan” (but not Green Belt land) if it is to provide First Homes.

WHO IS ELIGIBLE?  All purchasers must be first time buyers (ie have never owned land or property at home or abroad)  Purchasers’ combined annual household income must not exceed £80,000 (or £90,000 in Greater London) in the previous tax year. Local authorities may, however, choose to set a lower limit  Buyers must take out a mortgage or Islamic home purchase plan for at least 50% of the purchase, which will require a deposit. You cannot combine First Homes with Help to Buy: Equity Loan, but there does not seem to be any restriction on using a LISA or Help to Buy: ISA. Local authorities can also add additional eligibility rules, such as offering homes only to first time buyers who are also

key workers, or who are already living or working in the area or have family connections there.

WHICH HOMES ARE ELIGIBLE?  Initially all First Homes will be new build, but as owners move on, secondhand ones will become available  New homes cannot cost more than £420,000 in Greater London or £250,000 in the rest of England after the discount (although secondhand sales will be allowed to exceed this)  Homes must be at least 30% off market price, although local authorities can increase this to 50%, with the help of Government funding, if local conditions require it.

HOW DO YOU FIND A HOME? There is no central portal for the new scheme, so you will have to ask individual developers about their properties. The

First Time Buyer August/September 2021

FTB 30-33 Ed2 First-Homes August-September21.indd 30

13/07/2021 16:01

700 sq ft 2 bed

Full Ownership (85% LTV)

Help To Buy (20% Equity Loan)

First Home (30% discount 85% LTV)

First Home (30% discount 92.5% LTV)

50% Shared Ownership (85% LTV)

50% Shared Ownership (92.5% LTV)

Gross Development Values

230,000

161,000

183,750

Mortgage

195,500

172,500

136,850

148,925

97,750

106,375

34,500

11,500

24,150

12,075

17,250

8,625

Retained Equity

46,000

68,750

Initial Mortgage Rate

2.99%

1.71%

2.99%

3.44%

2.99%

3.44%

Annual Mortgage Interest

5,845

2,950

4,092

5,123

2,923

3,659

Annual Mortgage Repayment

5,369

5,588

3,758

3,854

2,685

2,753

3,163

Occupiers Housing Costs

11,215

8,538

7,850

8,977

8,770

9,575

Income Requirement

48,875

43,125

34,213

37,231

25,300

27,900

Deposit

Annual Rent

Source: Savills Research

FIRST HOMES

Comparison of key affordability and deliverability metrics for a typical 700 sq ft 2-bed Ministry of Housing, Communities and Local Government announced that an additional 1,500 properties would be on the market from the autumn, with at least 10,000 more due to be delivered in the future.

IS THE BUYING PROCESS DIFFERENT?

provider. Lodgers are permitted. You can decorate, but improvements and extensions may require permission if the home is leasehold as well as planning consent. Bear in mind that the restriction on the title means it can only ever be sold at the specified discount to the market value, irrespective of any improvements you have made.

You will need to obtain approval from the local authority to buy. When you see a First Home you like, the developer will initially check your eligibility and you will fill in an application including proof of household income and a legal declaration that you are all first time buyers. The developer will require a reservation fee to hold the home for you while the local authority considers your application. If you meet the criteria, you should receive a First Homes Authority to Proceed and an Eligibility Certificate within a week, which your solicitor and mortgage provider will require. A number of mortgage providers have already said they will provide 95% mortgages to support the scheme, including Halifax, Nationwide and Leeds. When the time comes to exchange, your solicitor will need to apply for an Authority to Exchange and Compliance Certificate from the local authority.

IS THE SELLING PROCESS DIFFERENT?

ARE THERE RESTRICTIONS ON USE?

If you are lucky enough to secure one, First Homes could provide a much more affordable first step. Andy Mason, head of housing development mortgages at Halifax, estimates that the scheme could lead to savings on the market price of up to

Purchasers must only own one home and should live in it, although you may be able to rent it out for up to two years, with consent from the local authority and mortgage

You don’t have to repay the discount, but you must sell the home to another approved first time buyer with the same percentage discount, and this requirement will be recorded on your Land Registry entry. So, for example, if you bought a £250,000 home with a 30% discount, you would have paid £175,000. If when you come to sell, the home is worth £300,000, you will only be allowed to sell it at £210,000 – 30% off the current value. Before you can sell you must obtain a RICS valuation and permission to sell from the local authority. If property prices have risen considerably, you might find it harder to upsize than if you had made a standard purchase.

IS IT A GOOD IDEA?

£107,000 outside of London and £180,000 in London, with first time buyers using the scheme with a 95% LTV mortgage at 4% paying £5,350 less on the deposit and saving £536 a month on repayments. According to a report by Savills, First Homes: Affordability and Viability, some buyers may struggle to achieve the income levels necessary to buy, even with the discount. While the scheme aims to help key workers, “As an average across all of the local authorities of England, a household income of £34,125 would be needed to buy a 700 sq ft property First Home – just above the average salary for an NHS nurse of £33,384.” It notes that the problem is particularly acute in London and the South East, where in order to keep them affordable, most First Homes are likely to be small apartments rather than family homes. To help buyers choose the right option for them, Savills compared the costs involved in buying a typical 700 sq ft two bedroom apartment on the open market, or via Help to Buy, shared ownership or First Homes (see above). Of particular note is the fact that while First Homes has slightly higher income and deposit requirements than shared ownership, monthly costs are actually lower. Buying a First Home with an 85% LTV mortgage would require an income of £34,213 and cost £7,850 a year (£654/month) in mortgage repayments, while buying a 50% shared ownership of the same apartment would only need an income of £25,300 but cost £8,770 a year (£730/month) in mortgage and rent.

First Time Buyer August/September 2021

FTB 30-33 Ed2 First-Homes August-September21.indd 31

13/07/2021 16:01

FIRST HOMES

FROM £87,497*

ELDER GARDENS Newton Aycliffe

Elder Gardens is a new development of two, three and four bedroom properties from Keepmoat Homes, with a number of two and three bedroom houses available through the new First Homes scheme and others that can be purchased using Help to Buy. Set in a peaceful, semi-rural location on the edge of Newton Aycliffe, County Durham, which was one of the country’s first New Towns, the homes have been created in a delightful woodland setting, with a preserved woodland belt running right through the development as a haven for wildlife. The two-bedroom terraced homes have a large living room complete with French doors opening on to the rear garden, a separate contemporary kitchen/dining room and a WC, while upstairs there are two good-sized bedrooms and a family bathroom. Two different styles of three bedroom home are available using First Homes. The Kendal has two double bedrooms, a single bedroom and a bathroom on the first floor, while The Bamburgh is a three-storey design with a large master bedroom and en suite on the top floor, two bedrooms and a family bathroom on the first floor and a ground floor with kitchen/dining room, WC, and lounge with French doors into the garden. All homes benefit from allocated parking. There are local convenience shops within walking distance, while for larger brands and supermarkets, the centre of town is only a five-minute drive away. For a wider selection, Darlington is 10 miles away, Durham is 12 miles and Newcastle is 20 miles away. Newton Aycliffe railway station is within walking distance, with services to Darlington then on to Edinburgh. Newton Aycliffe has three golf courses as well as being surrounded by countryside for enjoyable walks. keepmoat.com/elder-gardens-newton-aycliffe 01325 776 112

EXPERT COMMENT

Based on a 30% First Homes discount of the full market value of £124,995

EXPERT COMMENT

At a time when so many first time buyers are being priced out of their local housing market, it’s

FROM £110,600*

MEADOW VIEW Shirebrook

Meadow View from Keepmoat Homes is on the edge of the market town of Shirebrook, in the Bolsover district of Derbyshire. The development will include two, three and four bedroom homes, with a selection of three bedroom properties currently available. There are two types of three bedroom house on offer for those who want to use the First Homes scheme. The Cornflower has a separate kitchen/dining room, downstairs WC and lounge with French doors on to the garden, while upstairs it has two double and a single bedroom and a family bathroom. The Hadley is slightly larger, with a more spacious kitchen and with the master bedroom having an en suite. All homes have allocated parking. Shirebrook town centre is just over a mile away and has a good range of local shops and amenities, including two supermarkets, a bank and a petrol station. Nearby Kissingate Leisure Centre offers a wide range of activities for all the family, while lovers of the great outdoors can walk straight out of the development and on to footpaths through open fields. Shirebrook railway station is two miles away and has regular services to Worksop, Mansfield and Nottingham. keepmoat.com/meadow-view-shirebrook 01623 857 682

Propertymark is pleased to see a

encouraging that the Government is

further focus on homeownership

set to introduce this scheme. It should

with the news of the first properties

mean that people on lower incomes

to be made available under the

and key workers can afford to live

First Homes scheme, together with

in affordable new housing where

the flexible homeownership options

they grew up, work or currently live,

through the launch of the Own Your

and this can only be applauded.

Home initiative. It is good to see

However, it’s important to note

these creative initiatives at this crucial

that there will be downsides for

time, one where our members are

prospective buyers. Firstly, because

actively dealing with a very busy

there will be restrictions on who

market right now, full of hungry

can own or occupy these new

buyers. In welcoming this move

build properties, first time buyers

we also reiterate our concern that

may find it more difficult to access

introducing more buyers without

home loans. Properties bought under

increasing supply could further

this latest scheme can’t be resold

push the supply and demand out of

on the open market or at auction,

balance, further fuelling the spiral

as any future buyer must meet the

in house prices. It’s clear that the

same criteria. A combination of

UK Government recognises the

lack of mortgage availability and

importance of homeownership;

limited resale market can often mean

looking forward, we want to see

these kind of properties may not

a further expansion of measures

experience the same house price

to support the market as a whole.

growth that an identical property

Coupled with planning reforms to

without restrictions would. Borrowers

make building easier and create

considering taking out a mortgage

more homes, the UK Government

on a property with restrictions can

should now look to incorporate

approach specialist lenders like

initiatives to encourage and support

Together, which will look into their

older generations downsizing and

individual circumstances and the

releasing family homes.

property they’re looking to buy. Scott Clay,

Mark Hayward,

Distribution

Chief Policy

Development

Adviser,

Manager,

Propertymark

specialist lender Together

Based on a 30% First Homes discount of the full market value of £158,000

First Time Buyer August/September 2021

FTB 30-33 Ed2 First-Homes August-September21.indd 32

13/07/2021 16:01

FTB 30-33 Ed2 First-Homes August-September21.indd 33

13/07/2021 16:02

LOCATION

HOTspot Park Royal

5 REASONS WE LOVE… P A R K R O YA L

1. Excellent transport links 2. The Grand Union Canal 3. Wembley Stadium on the doorstep 4. Diversity of neighbouring areas 5. Exciting prospects

Nestled between Harlesden and Acton, and straddling the London boroughs of Brent and Ealing, Park Royal is growing into a vibrant community. With a superb selection of new homes, excellent local amenities and outstanding travel links, it’s easy to see why so many people want to call this new neighbourhood "home"

UNDER THE SPOTLIGHT

OUT AND ABOUT

The site of the largest business park in London, Park Royal is perhaps not the first place that springs to mind to buy your first home. However, there are big plans for the area, which, together with adjacent Old Oak Common, has been described as a potential "Canary Wharf of West London". As a result, new developments are popping up fast as the UK’s largest regeneration scheme picks up pace. Park Royal started life as the sleepy village of Twyford; its present name stems from the Royal Agricultural Society exhibitions that were held in the area between 1903 and 1905. During the first world war, munitions factories were built on the site and it continued to develop as an important industrial estate when the war ended. There have also been two football grounds here for Queens Park Rangers FC between 1907 and 1915, as well as a location for a Guinness brewery. When many of the factories closed in the 1970s, the area quickly became derelict until it was resurrected by the Park Royal Partnership, securing its future once again as home to successful industrial businesses including drinks conglomerate Diageo. Park Royal station is the primary transport option in the area; on the Piccadilly Line, it offers

direct services to King’s Cross, Covent Garden, South Kensington and Heathrow. Other useful stations nearby include Hanger Lane (Central Line) and Stonebridge Park station which is served by the Bakerloo Line and Watford DC Overground line. A new station at Old Oak Common will open in 2026, providing connections to the Elizabeth Line, HS2 and National Rail services. Park Royal is also well connected by road; served by the A40 and A406, and is close to the Hanger Lane gyratory, a major interchange. There is currently a population of just over 5,000 in Park Royal, with a median age of 34. Park Royal holds a natural appeal for single professionals looking for modern living and easy travel links. While families have tended to opt for nearby Ealing, as ongoing regeneration continues to transform the area, this demographic is likely to see a shift in the coming years.

Convenience is key in Park Royal and residents benefit from an impressive Asda superstore and the Park Royal leisure park, which includes a nine-screen multiplex and a 36-lane bowling alley. There is also a trampoline park to keep the kids entertained, and Houdini’s Escape Room Experience for something a little out of the ordinary. Food and drink suppliers are plentiful, with an impressive array of global offerings. Patchi is a local favourite, featuring Restaurant 28, a luxurious Lebanese restaurant, a shisha terrace and a patisserie serving baklawa and Mediterranean sweets and pastries. Spirit drinkers will enjoy the whisky connoisseur experience at the award-winning Bimber Distillery; only five years old but already highly rated. While Park Royal doesn’t have its own high street, it is close enough to the likes of Wembley, Ealing and Acton to mean that residents are still incredibly well served by local amenities, including the hugely popular Wembley market and London Designer Outlet. Westfield White City is also a mere three miles away, with a staggering 286 high street and designer stores and 90 dining options. It’s hard to imagine residents would need to go anywhere else to have their retail needs met! Of course, Park

34 First Time Buyer August/September 2021

FTB 34-35 Hotspot-Park Royal August-September21.indd 34

13/07/2021 16:05

LOCATION

FA C T F I L E

Average property price in Brent (April 2021) – £479,010 Property breakdown* Detached – £1,070,388 Semi-detached – £704,156 Terraced – £596,497 Flat – £377,501 *According to the Land Registry House Price Index

FA M O U S R E S I D E N T S • Louis Theroux – documentary filmmaker and broadcaster, lives in Harlesden • Raheem Sterling – footballer, went to school in Wembley • Sabrina Washington – singer, was born in Harlesden • Lenny Henry – actor and comedian, lived in Wembley • Riz Ahmed – actor, rapper and activist, born in Wembley

Royal’s close proximity to the city means entertainment options are unlimited but there are also adventures to be found right on the doorstep. The Grand Union Canal runs through the middle of the Park Royal industrial estate, with pedestrian access via the towpath. Wormwood Scrubs is also nearby. Perhaps most famous for its prison, the large area of common land is actually a designated local nature reserve and is a great space for kids to play, as well as being ideal for spotting wildlife and bird watching. Other local green spaces include North Acton Playing Fields and Hangar Hill Park and Wood. Living in Park Royal means you’re just a stone’s throw away from Wembley Stadium, the UK’s largest such facility and home to the England international football team. If watching the professionals in the Euros has inspired you to up your own fitness levels, you are spoilt for choice with local gyms catering for all budgets including David Lloyd, Pure Gym and Everyone Active. Acton Park, just a mile and a half away, has a cafe, pitch and putt and skateboard park, with Arch Rock-Climbing Gym just around the corner for a more strenuous workout. The Linford Christie Outdoor Sports Centre is local too, with athletics, football and rugby among the sports on offer.

HOMES ON THE MARKET... FROM £350,000

PARK ROYAL

Regency Heights

Delivering on its promise to establish a thriving new area in the capital, the Park Royal and Old Oak regeneration project, which launched in 2015, will soon see the completion of the sought-after new home development, Regency Heights. Fairview New Homes launched Regency Heights as part of a £26bn regeneration masterplan backed by the Mayor of London, which will deliver more than 25,000 new homes over the next four decades and generate 65,000 new jobs. The area will soon be home to two new "super hub" railway stations, the much-anticipated Crossrail and HS2, making it the only highspeed rail interchange in the UK. Regency Heights comprises 499 studio, one, two and three bedroom private apartments. One bedroom apartments start from £375,000, two beds from £450,000 and three beds from £600,000. In the current phase of release there are 15 apartments available in Baronet House, while at The Tower, the newly launched phase of the Regency Heights development at Park Royal, there are174 apartments set across 27 storeys offering stunning views across London. The Tower comprises eight studios, 18 one bedroom, 114 two bedroom and 34 three bedroom apartments, priced from £350,000. Each apartment has its own private balcony, as well as access to communal gardens and a tranquil lake to the north west of the development. The high-specification apartments come with a video phone entry system, Amtico flooring in the hall, living and dining areas and carpet in the bedrooms. Kitchens have Zanussi integrated appliances including an oven, induction hob, cooker hood, fridgefreezer, microwave and dishwasher, plus a freestanding washer-dryer. With an on-site nursery in the final stages of completion and a car parking space for every three bedroom home, Regency Heights is also a brilliant hub for growing households. Some two bedroom homes have the option to purchase a private parking space as well. Located in Zone 3, Regency Heights is just an eight-minute walk from Park Royal underground station, serviced by the Piccadilly Line, and less than a 10-minute walk from Hanger Lane station, on the Central Line. Popular commuter and shopping hotspots are therefore within easy reach; travel to Westfield taking eight minutes, Oxford Circus 22 minutes and Bank 31 minutes. The nearby bustling neighbourhoods of Ealing and Chiswick are two and four miles away respectively, easily accessed by public transport, and offer an array of gastro-pubs, popular restaurants, and trendy bars. Meanwhile, great shopping centres and outlets are a short drive, with Wembley less than three miles away, and Brent Cross a 15-minute drive via the North Circular. Further local amenities include a on-site Co-op store, an Asda supermarket, a variety of restaurants and cafes, and a PureGym just moments away, while the Central Middlesex Hospital is a 15-minute walk from the development. For more information on Regency Heights, visit; fairview.co.uk/new-homes-for-sale/north-west-london/brent/regency-heights

First Time Buyer August/September 2021

FTB 34-35 Hotspot-Park Royal August-September21.indd 35

13/07/2021 16:05

AFFORDABLE HOMES

SOUTHMERE, THAMESMEAD: SELLING FAST IN LONDON’S NEW TOWN

With a 30-year vision, Peabody’s regeneration plans for Thamesmead are undoubtedly its most ambitious and notable to date. Southmere sits within the heart of Thamesmead, which has the same footprint as central London. As well as creating new homes for existing and new residents, Peabody is taking a “whole place” approach to invigorate life at South Thamesmead with a unique cultural and commercial offer, including shops and amenities creating new jobs, a new public square, a library and flexible community facilities, and outdoor activity spaces. The time for Thamesmead to realise its full potential and become London’s New Town has begun

Southmere offers a collection of one, two and three bedroom apartments, with access to a concierge service, residents’ lounge, meeting rooms and workspaces. Residents will have access to cycle storage, and car parking spaces and permits are also available. Homes are fitted with all the essentials, from fully integrated kitchen appliances to built-in wardrobes in the master bedrooms, as well as tranquil views over Southmere Lake. The iconic Southmere Lake, which is currently being revitalised with a £2.5m investment, will provide access to a new fishing platform and a Boat Club, offering paddle boarding and kayaking. Lisa Crush, Director of Sales

and Marketing at Peabody, comments, “We’ve had an amazing response to our first phase and we’ve already had multiple enquiries and reservations for our next block of 88 private sale homes, in Starling Court. “We will be launching 100 shared ownership homes later this year – including both apartments and townhouses. These are positioned off Cygnet Square which is at the heart of Southmere, where we’ll be launching a series of cultural events from summer onwards. Our cultural projects, which are currently underway, will continue to grow and we’re excited to invite new residents into this community in the coming months.”

Already a dynamic and exciting community and home to creatives, with a regular programme of co-designed activities and community initiatives in place, Southmere is

set to become a buzzing hub at Thamesmead. Southmere is already well connected to the city, with the nearby Abbey Wood Overground station making London Bridge accessible in only 22 minutes, Bond Street in 25 minutes and Waterloo in 35 minutes. With Crossrail on the horizon at Abbey Wood, commuters can expect to be in Canary Wharf in only 11 minutes. For those travelling slightly further afield, London City airport is accessible in just 30 minutes. Prices begin at £312,500 for a one bedroom home, £400,000 for a two bedroom home, and £547,000 for a three bedroom home. Help to Buy is available on homes under £600,000. To find your place visit southmere.co.uk

36 First Time Buyer August/September 2021

FTB 36-37 Peabody August-September21.indd 36

13/07/2021 16:08

FTB 36-37 Peabody August-September21.indd 37

13/07/2021 16:08

FTB 38-41 Inland August-September21.indd 40

13/07/2021 16:09

FTB 38-41 Inland August-September21.indd 41

13/07/2021 16:09

HELP TO BUY

HIGH SPECIFICATION HOMES IN DESIRABLE LOCATIONS BY AWARDWINNING INLAND HOMES Inland Homes’ apartments are perfect for first time buyers looking to take their first step on to the property ladder. With a range of developments to choose from across the South and South East, and a premium specification included, homes from this award-winning developer start from just £180,000, with Help to Buy available* Each home is finished to a high specification throughout. With thoughtfully planned layouts and open-plan kitchen/ living areas, every apartment has been designed to include a contemporary kitchen with integrated appliances and a quality bathroom with stylish wall and floor tiling. Many homes include allocated parking and benefit from a private balcony or terrace. On the south coast, The Wessex comprises a charming collection of one and two bedroom apartments located in the coastal town of Bournemouth, situated just a short walk from the seafront! These fabulous new homes are in a prime location with excellent amenities, leisure and shopping facilities, and access to the seaside all within walking distance. All available homes at The Wessex include underfloor heating, integrated kitchens with slimline worktops, and designer bathrooms. Residents have access to secure underground parking facilities and the beautifully landscaped communal gardens. Prices at The Wessex start from £220,000, with some homes ready to move into now! Set in the vibrant city of Southampton, Meridian Waterside is situated along the

The Wessex

banks of the River Itchen, comprising a remarkable collection of high-quality one, two and three bedroom apartments available with Help to Buy.* This awardwinning development is perfect for first time buyers who are looking for an excellent specification and contemporary finish. Southampton city centre is nearby, meaning residents can truly experience the best in waterside and city living with amenities and travel links just a short distance away. Prices at Meridian Waterside start from just £180,000 and all homes include an allocated parking space. Located in the bustling town of Uxbridge, west London, Randalls integrates into its design the iconic art deco facade of a Grade II listed department store building. This development offers a stunning collection of one and two bedroom apartments, attractive to first time buyers who are looking for a home with space, style and sophistication. Enjoy the benefits of living in a central location, with amenities, shopping facilities, restaurants, bars and travel links on the doorstep. With homes ready to move into now and London Help to Buy available*, you’ll need to be quick to secure your brand new home at this fabulous development. Prices at Randalls start from £365,000. Centre Square in High Wycombe comprises a dynamic collection of one and two bedroom apartments in the heart of the town centre. Residents at Centre Square can reach London Marylebone in as little as 27 minutes** from High Wycombe station, which is just a short walk away. The Eden Centre is on the doorstep, with a variety of high street shops, restaurants and cafes, plus a theatre, bowling, library and cinema, all just a few metres away from the development. Road connections include

Meridian Waterside

the M40 less than two miles away. There is plenty of parkland close by if residents want a tranquil day. Prices at Centre Square start from £220,000. With a selection of homes ready to move into straight away, now is the time to book your appointment and speak with a member of Inland Homes’ friendly sales team by calling 01494 546 772 or emailing sales@inlandhomes.co.uk. You can also follow Inland Homes’ social media channels on Facebook, Twitter or Instagram to keep up to date with the latest news and offers. inlandhomes.co.uk *Help to Buy: Equity Loan is available for first time buyers only and is subject to eligibility, terms and conditions. Regional price caps apply. Available on selected plots only. Speak to a sales adviser for further details **Source: trainline.com

40 First Time Buyer August/September 2021

FTB 38-41 Inland August-September21.indd 42

13/07/2021 16:09

FTB 38-41 Inland August-September21.indd 43

13/07/2021 16:09

SHARED OWNERSHIP

HOT PROPERTY The property market is showing no signs of slowing down just yet, with the latest data from Nationwide revealing that the average home has jumped by 10.9% to £242,832 in just 12 months.¹ House prices are spiralling, and we know that for the typical first time buyer it is challenging to purchase a home on the open market due to the staggering deposit requirements. However, despite a seemingly concerning backdrop for those hoping to get on to the property ladder, shared ownership has proved to be resilient, and we have seen high levels of aspirational buyers using the scheme to purchase their first home in recent months. Shared ownership offers a lifeline to first time buyers, providing access to homeownership at an achievable cost. With a low 5% to 10% deposit requirement, first time buyers can purchase a minimum share – typically 25% – in a shared ownership home, with the option to gradually staircase to full ownership if they wish to do so. For many, this is far more realistic and offers greater access into the market to a wider proportion of buyers. At SO Resi, we are seeing huge levels of interest from buyers at all of our developments, from young professionals seeking apartments in the city, to families looking for a more spacious home out in the countryside. In London, we are seeing buyers turn to developments in the suburbs. A combination of greater access to the outdoors and excellent connections into the capital mean that boroughs such as Ealing are particularly popular at the moment. At our newly launched SO Resi Greenford development in Ealing, buyers have a choice of one, two and three bedroom apartments and can purchase a minimum 30% share in a one bedroom property from £99,000 (full market value: £330,000). The development is situated on the Grand Union Canal and is surrounded by leafy green spaces, yet is just moments from Greenford underground station, with links into the capital via the Central Line. It’s not just Londoners reaping the benefits of shared ownership. At our MY Resi Upton Square development in Upton, Northampton, local first time buyers have been making the most of the scheme’s availability. The homes are part of a wider development with plenty of community facilities and green spaces on site, alongside good public transport connections and road links. A minimum 25% share in a two bedroom apartment here starts from just £55,625 (full market value: £222,500).

Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, takes a look at the state of the property market and in particular shared ownership – the affordable way to get on the ladder MY Resi Upton Square

SO Resi Greenford

In addition to seeing a high demand for shared ownership at our developments, we are also seeing increasing interest in buyers considering staircasing to increase their shares. Many of our buyers have chosen to sign up to our SO Resi Plus scheme, whereby customers can staircase by 1% each year for 15 years at an agreed, fixed price. For many, this is a more affordable option to staircase when compared to the

MY Resi Upton Square

traditional method of staircasing in 5% to 10% increments. Our 1% staircasing model has been in place since 2017 following high demand from customers, and we are pleased that this will be rolled out nationally by the Government through its new Affordable Homes Programme. Shared ownership is needed now more than ever before, particularly as house prices continue to rise and temporary products like Help to Buy are phased out. It works to bridge the gap between renting and full ownership, and continues to support those who need it most: predominantly young people, most of whom are on single incomes, who would otherwise be excluded from homeownership. sharedownership.co.uk ¹ thisismoney.co.uk/money/mortgageshome/ article-9644341/Why-theres-hope-time-buyers.html

42 First Time Buyer August/September 2021

FTB 42-43 MTVH August-September21.indd 42

13/07/2021 16:12

FTB 42-43 MTVH August-September21.indd 51

13/07/2021 16:12

AFFORDABLE HOMES

EAST SIDE STORY!

East London is a true cultural melting pot and is becoming ever more popular with first time buyers who are embracing all it has to offer. These two new developments of shared ownership homes from Notting Hill Genesis bring affordable living in London’s trendiest areas WOOLWICH REACH Ticking all the right boxes, Woolwich Reach is an exciting development of one, two and three bedroom apartments and three bedroom mews houses available with shared ownership, occupying a unique Thameside location in North Woolwich. Woolwich Reach is a 14-storey building where residents can enjoy wonderful views of the city, park and waterside from generous balconies or terraces. There is also a communal podium garden adjacent to Royal Victoria Gardens where you can enjoy the riverside green space, which also includes a splash pool, playground, walking paths and tennis courts. Launching this summer, the homes have been thoughtfully designed with floor-toceiling height windows to maximise the space and light. The contemporary kitchens come with Indesit integrated appliances and master bedrooms have mirrored fitted wardrobes, bespoke carpeting and lots of storage space. All homes benefit from underfloor heating. Travel connections are excellent too, with a choice of the DLR, tube, rail and boat. King George V DLR station is a five-minute walk away, from where you can reach Bank in under 25 minutes and Canning Town in eight minutes. From Canning Town, you can go on the Jubilee Line for a quick connection to Stratford, Oxford Street and Regent Street. Alternatively, you can take advantage of the Woolwich Ferry foot tunnel. Coachmakers Yard

Woolwich Reach

COACHMAKERS YARD Coachmakers Yard, off Blackhorse Road in Walthamstow, offers a collection of one, two and three bedroom shared ownership apartments, which are perfectly positioned to take advantage of Walthamstow’s vibrant community, excellent transport links and stunning open spaces. Located on the former site of the Associated Equipment Company, where London’s buses were manufactured until 1927, the area has been transformed into an impressive leisure and retail destination. Each apartment has been carefully designed with spacious open-plan kitchen/ dining/living areas with large windows

to let in the natural light. Kitchens come with fully integrated appliances including a Smeg fridge-freezer, oven, induction hob and dishwasher. Bedrooms feature fitted wardrobes to the master and second bedrooms, and the two and three bedroom homes benefit from an en suite to the main bedroom. Some apartments also have private balconies or terraces, perfect to enjoy the outside space and unwind. The area offers some exceptional restaurants, bars and gastro-pubs, plus a great selection of independent shops, while The Mall Walthamstow hosts all the high street brands. Walthamstow Market is held weekly, with a variety of stalls selling fresh fruit, vegetables, antiques, street food and handcrafted goods. For those who enjoy the great outdoors, walk a few moments from the development and you reach Walthamstow Wetlands, the largest urban wetland in Europe. This unique haven is perfect to explore, enjoy and connect with nature. Transport links are excellent, with Blackhorse Station just a three-minute walk away from where you can reach King’s Cross in just 13 minutes and Waterloo or London Bridge in about 25 minutes. For cycling enthusiasts, there are a number of cycling routes nearby. Prices start from £88,750 for a 25% share of a one bedroom apartment with a full market value of £355,000. To register for advance details, go to nhgsales.com

44 First Time Buyer August/September 2021

FTB 44-45 NHG August-September21.indd 44

13/07/2021 16:14

FTB 44-45 NHG August-September21.indd 45

13/07/2021 16:14

NEW HOMES

Interview © Harriet Toner

A DEVELOPER WITH A DIFFERENCE... Clayton Lyon is something of an unusual property developer. A nature-loving beekeeper, he gives the impression he’d be quite at home living in the woods – instead, he’s at the helm of an award-winning property business Determined to stand out from other developers, Clayton’s passion for nature and sustainability are entrenched in his work, creating buildings with huge visual impact. His inside-outside approach has seen him put green roofs on “as many buildings as possible” and incorporate living walls into his designs – anything that gives a nod to the natural world. “I love being outside; being in nature is where I switch off – I enjoy freediving, I have chickens and keep bees. It’s really important to have that place where you can just relax,” he explains. Born and raised in east London, he admits he charmed his way into his first ever job, where he did computeraided design (CAD) – a step that launched him into the property business. “I was young and eager and a company took me on, and one of the older guys taught me – and it gave me a real edge in development because I was different, I came from a technical drawing and design background, not through a trade.” The meticulous attention to detail he needed for technical drawing spills into every aspect of Clayton’s work and personal life. “I’m a bit OCD when it comes to the finer details,” he says. Even now, running a large team of people, he oversees each little part of his business. “I choreographed all the animation for the video on our website,” he enthuses, naming every development featured in the advert, dropping in intricate details he remembers about the type of wall on one project, the windows in another.

While it’s his focus that has put his properties in an awardwinning league, it’s his appetite for a dash of risk that won him the opportunity to kick-start his business. “After I’d been away from technical drawing for a while, I’d done a bathroom for one friend and a kitchen for another, but I had no money and was thinking ‘what am I going to do?’” he explains. “I wanted to do bigger projects and managed to broker a deal between someone who had land but no money, and someone who had money but no land, to build a block of flats. I built the flats – I did the drawings, found the labour, and saw it through from start to finish.” His bold idea grew into Developing London, a brand for a group of companies that has notched up national award wins for best design and development, and prides itself on its finishes.

“In all of my developments, I work to replicate the really high-end finishes I learned early in my career – even though they are entry level from a pricing perspective,” he explains, passionately arguing for better standards for affordable housing. “A lot of developers do the high-end finishes on the ones that they are going to sell at the normal price and then they will cut all of those out from the ones that are for affordable housing. I think that’s questionable behaviour; it’s showing another example of how the economic environment divides the different classes, for example, people living in the same block should be able to use the same facilities.” Stitched into the fabric of the company is an ethos that has come straight from the top – there are no half-measures or brakes; everything here is high-energy, high-impact and full of heart.

“I don’t want to just pay lip-service to things – for example, I’m passionate about sustainability. I might have certain contracted obligations, but I try to surpass that, I try to give more. I look at each apartment individually and think about how I would like to live there. “I like each place to be bespoke, but for common areas I’ve got a bit of a signature style. I find reclaimed wood, I reuse materials, I like to draw attention to certain features. And I want to bring that inside too. It’s about taking warmth into a communal area, so that as soon as you walk in you know you’re home.” station-road.com developing-london.com

46 First Time Buyer August/September 2021

FTB 46-47 Developing-London August-September21.indd 46

13/07/2021 16:15

FTB 46-47 Developing-London August-September21.indd 47

13/07/2021 16:15

AFFORDABLE HOMES

THE SUMMER OF OPPORTUNITY: WHY NOW IS THE TIME TO GET ON TO THE PROPERTY LADDER

The UK property market is flying at the moment, as buyers re-evaluate their lifestyles post-lockdown and find a home that works for them; whether that’s moving from city to countryside, or finding a home with private outdoor space The same is true of first time buyers. The last year has demonstrated just how important the home is, and as a result, many hopeful buyers want to find a permanent place to call home. Leading housing association Catalyst has witnessed a huge surge in demand for new properties, with a record year for sales over the past 12 months. Delivering a large range of developments across London and the South East, many of which are available through shared ownership and Help to Buy, Catalyst is helping hundreds of first time buyers become homeowners. Through both schemes, buyers are able to purchase a home with a much smaller deposit than the typical amount required to buy on the open market. In some instances, deposits start from less than £5,000, so purchasers who have managed to stow away a bit of cash each month over the last year might find themselves in a position to buy. Markus Kendall-Young, Director of Sales and Marketing at Catalyst (London), comments, “Buying your first home is one of the most exciting and rewarding milestones in life, and it gives us immense pride to be able to help so many new homeowners make that step. Many first time buyers come to us at the start of their journey, unsure what options are available to them, and are amazed at what they can afford

through schemes like shared ownership and Help to Buy. From those initial meetings, through to being handed over the keys, we are proud to go on this journey with every buyer, helping them to find their dream home with Catalyst.” Catalyst’s breadth of developments range from studio apartments to spacious family homes, providing an option to suit every buyer. Part of an ambitious west London regeneration project, ARRO is a collection of studio, one and two bedroom apartments available through shared ownership in the brand new Green Quarter in Southall. The homes feature flexible, open-plan layouts and all are complete with a balcony or terrace – providing residents sought-after access to private outdoor space. Convenient for commuting, the development is only a 10-minute walk from Southall station, where journeys into London Paddington take from 16 minutes. Prices start from £66,875 for a 25% share (full market value £267,500). Nearby, in the urban village of Hanwell, a handful of one and two bedroom apartments are available through Help to Buy at Aspire at St Bernard’s Gate. This heritage-rich development is built around the Grade II listed North House, St Bernard’s Chapel and gatehouse arch. Inside, high-specification finishes include spacious open-plan layouts that flow into

Aspire at St Bernard’s Gate

Newman Place

private balconies or terraces. Hanwell is well known for its lush green spaces, variety of good schools, and thriving high street only a 10-minute walk away. Prices start from £365,000 with Help to Buy available. Offering the chance to step on to Oxford’s competitive property ladder through shared ownership, Newman Place is a collection of high specification one and two bedroom apartments, less than four miles outside of the historic city. The

ARRO

development has been designed to reflect the character of its natural landscape and features a customary high-quality finish throughout. The apartments offer open-plan living areas, generous private balconies and large windows creating bright and airy homes. Prices start from £68,750 for a 25% share (full market value £275,000). To find out more about Catalyst’s latest developments, visit catalyst.homes

48 First Time Buyer August/September 2021

FTB 48-49 Catalyst August-September21.indd 48

13/07/2021 16:20

FTB 48-49 Catalyst August-September21.indd 49

13/07/2021 16:20

FTB 50-53 Broadway-Living August-September21.indd 50

13/07/2021 16:22

FTB 50-53 Broadway-Living August-September21.indd 51

13/07/2021 16:22

HELP TO BUY

STYLISH, SPACIOUS AND EXCEPTIONAL VALUE FOR MONEY Central Square ticks all the boxes for first time buyers, with deposits from £17,375 and Stamp Duty incentive

Comprising sleek, high-specification apartments, an aspirational west London location and deposits from just £17,375 using Help to Buy and Stamp Duty paid, Central Square in Ealing provides an exciting opportunity for London’s first time buyers on a budget, who don’t need to compromise on style, space or setting. This is the latest collection of one and two bedroom apartments at Copley W7, Broadway Living’s landmark regeneration scheme where the first phase of homes sold out in a matter of months. Priced very competitively with first time buyers firmly in mind, homes start from £347,500 for a contemporary one bedroom apartment; and using the Government’s Help to Buy: Equity Loan scheme (now exclusive to first time buyers), a deposit of just 5% – or £17,375 – is required. For a two bedroom home priced at £435,000, a deposit of £21,750 is required. The Government will lend 40% of the home’s value – interest free for the first five years – so a mortgage of only 55% of the full amount will need to be arranged. In addition, Broadway Living is launching a special incentive to support first time buyers after the Government’s Stamp Duty holiday changes; as from 1 July the Stamp Duty threshold reduced from £500,000 to properties costing up to £300,000. To combat this, the developer will pay any Stamp Duty on your behalf up to the value of £15,000 if you reserve at Central Square before 31 August – saving you thousands of pounds. These stylish homes offer light, bright living spaces with plenty of room to balance relaxation, leisure and work, as well as having an exceptionally high specification for a first time buyer home. Every apartment comes with integrated Zanussi kitchen appliances; in addition to an oven, hob and fridge-freezer, there’s also a washer-dryer and dishwasher. Other cost-saving benefits include real timber flooring, carpet and large fitted wardrobes to the main bedrooms. Every home has its

own balcony and there are fantastic views from the upper floors. Central Square is the perfect place for buyers looking for a balanced approach to London living. Its leafy location provides a tranquil retreat from a busy city lifestyle, more valuable than ever in the past 18 months. There are plenty of local public green spots to enjoy (Gurnell Grove Park is a four-minute walk away and Brent Valley Park is a 16-minute walk away), and the upcoming landscaped garden square at Central Square means buyers are never far from open outdoor space. Additional on-site amenities include a community centre and a local shop for the day-to-day essentials. Central Square’s residents are ideally

placed to immerse themselves in London life. Ealing’s buzzing Broadway (10 minutes away by bike) provides a wide array of eateries, coffee shops and shopping options, while trains from Castle Bar Park station, which is located just moments from Central Square, take 22 minutes to reach London Paddington and all that central London has to offer. The gorgeous new two bedroom show home at Central Square is now available to view by appointment. You can also enjoy an immersive virtual tour of the development – including looking at every apartment type available – at copleyhanwellw7.co.uk. For more information or to book a private appointment, call JLL on 020 7087 5111

Central Square has recently been shortlisted in two categories at the prestigious First Time Buyer Readers’ Awards, for both “Best Affordable Housing Provider of the Year” and “Best Use of Interactive Tools”. Vote now online – you have until 6 August! Best Affordable Housing Provider of the Year: bit.ly/3uhiiie Best Use of Interactive Tools: bit.ly/3oLCOGB

52 First Time Buyer August/September 2021

FTB 50-53 Broadway-Living August-September21.indd 52

13/07/2021 16:22

FTB 50-53 Broadway-Living August-September21.indd 53

13/07/2021 16:22

AFFORDABLE HOMES

Brue Farm

A NEW HOME AND A NEW NAME WITH ABRI The past year has been interesting for many reasons. The pandemic has changed the way many of us think about our homes, with more focus on work-life balance thanks to all of us re-evaluating our priorities. Being close to the office and short commute times are now down in priority, while home offices and larger gardens are on the up, as homes are more than just our leisure spaces In the past 12 months we have seen some big changes too, with a new name and a new focus. Abri means “shelter”, and we’re committed to helping tackle the housing crisis with an ambition to deliver at least 10,000 high-quality homes over the next decade. The result of a partnership between Radian and Yarlington, our breadth means we’re now one of the largest registered providers in the South and South West of England, with more than 35,000 homes across a range of tenures to help people into their dream homes. We’re good at what we do, with several awards to show for it, including being shortlisted for Affordable Housing Provider of The Year in the 2021 First Time Buyer Readers’ Awards – which you can vote for now. Everyone wants more, be that space, bedrooms or greenery, and this is driving demand across the region. Our range of properties – from starter apartments to spacious family houses – means there’s something for everyone, with

plenty of outdoor green spaces, spare bedrooms that are ideal for converting into home offices, and open-plan living areas which will be great for hosting guests. Affordability is often the key driver in property hunting; we offer homes available with shared ownership that make getting on to that first rung of – or climbing up – the property ladder more achievable. This scheme allows you to buy a percentage of a new home’s full market value, and pay a low-cost rent on the remainder. Buying a reduced percentage means a much lower deposit, often just 5% of the share’s value, and you need a smaller mortgage too. The scheme is perfect for second-steppers who might be looking to upsize into a larger family home, for example. We offer a range of houses available with the scheme, which are ideal for those in need of more space who can’t afford to buy on the open market. For example, at Longhedge Village in Salisbury,

we have a new collection of two, three and four bedroom houses. The properties are perfect for families wanting to be close to the new schools and sports facilities being built on site, as well being surrounded by lush green open spaces within the new community in Old Sarum. We’re also working hard to increase our use of modern methods of construction (MMC). At Brue Farm in Burnham-on-Sea, Somerset, we’re working with Ilke Homes, a company which specialises in the use of MMC. Through the use of off-site manufacturing,

the development’s impact on the environment is lessened and energy efficiency is improved for all residents – in addition to accelerating the much-needed supply of affordable homes. The two, three and four bedroom homes are just a short walk from the town centre, in the kind of enviable, semi-rural location that many buyers are now dreaming of as they search for a home. To find your ideal home in the South or South West, visit our brand new website abrihomes.co.uk

Longhedge Village

54 First Time Buyer August/September 2021

FTB 54-55 Abri August-September21.indd 54

13/07/2021 16:23

FTB 54-55 Abri August-September21.indd 55

13/07/2021 16:23

AFFORDABLE HOMES

LONDON’S FINEST

Fancy a desirable residence in west London’s best postcodes? Your dream could be a reality with these new shared ownership homes

78 Barrowgate Road

Chiswick and Fulham, in west and south west London, are two of the capital’s most sought-after areas. Loved for their beautiful properties, great transport links, thriving high streets and proximity to the River Thames, they’re both pretty and practical places to live. Homes here are renowned for their big price tags; however, two fantastic new developments by BE WEST have made buying in these high-end locales a possibility for first time buyers.

78 BARROWGATE ROAD, CHISWICK Chiswick, west London, is an enclave of calm and beauty with wide tree-lined streets, a leafy stretch of the River Thames, a strong cafe culture and excellent schools. Meanwhile, the busy High Road provides shops, cafes, restaurants and pubs, along with links to nearby Hammersmith and Acton. The new development at 78 Barrowgate Road provides affordable, quality homes in this desirable area. The boutique collection is home to just 12 one and two bedroom shared ownership apartments, housed in an attractive period-style

property that fits perfectly with its surrounds on a quiet residential street. Inside, the apartments are stylishly appointed, with bright, spacious living areas that lead to private balconies. As well as a leafy outlook, residents have access to the shared gardens, while private parking is also available. The location is fantastic: Turnham Green and the long High Road – for relaxed brunches, shopping and meeting friends – are a twominute walk. Beautiful Chiswick Gardens are around 15 minutes on foot, with the river a further five minutes away. Meanwhile, Gunnersbury or Chiswick Park stations are around a fiveminute stroll for Overground and District Line trains, where services will take you to London Victoria in just over 20 minutes.

green spaces and plenty of riverside retreats. The Apex is located just moments from the high street, and is in an ideal spot for enjoying the best of the immediate area and the city beyond. Within the contemporary four-storey apartment block there are 12 two bedroom homes available through shared ownership. Styling is sleek and modern, with plenty of natural light and high-spec fixtures and fittings throughout. The open-plan living areas have been designed to maximise the use of space and complement the ergonomic kitchens. Residents will enjoy the generously sized balconies,

giving that all-important private outdoor space. The separate utility room provides extra space for storage and washing, while there are also en suite bathrooms from the master bedroom in some of the properties. Residents benefit from shared cycle storage, encouraging them to explore what the local area has to offer. Fulham’s thriving centre is popular for shopping, eating out, cinema, live music and sport, while local open spaces include Eel Brook Common, Hurlingham Park and wonderful Bishop’s Park – a lovely stretch of riverside greenery. When it comes to the river, there’s so much on offer: take your pick from pub lunches, long walks, boat trips and even rowing and kayaking. Getting into and around the city is made easy with strong transport links. You’ll find Overground, District Line and mainline train services all within easy reach at West Brompton and Fulham Broadway stations. Alternatively, buses can be found moments from the front door, whisking you to Notting Hill, Shepherd’s Bush or south of the river to Clapham. From £153,125 for a 25% share of the full market value of £612,500 bewest.co.uk The Apex

From £186,250 for a 25% share of the full market value of £745,000

THE APEX, FULHAM Fulham, SW6, clings to a southwest curve of the River Thames, and offers everything you’d expect from life in the city: a busy centre, a diverse range of shops and restaurants, urban

56 First Time Buyer August/September 2021

FTB 56-57 Be West August-September21.indd 56

13/07/2021 17:51

FTB 56-57 Be West August-September21.indd 57

13/07/2021 17:51

NEW HOMES

PUTTING A SPOTLIGHT ON WELLINGBOROUGH Mark Best, Director of Northants LLP – the developer behind Wellingborough’s Glenvale Park development – gives his take on why Wellingborough should feature highly on any first time buyer’s list of places to live First time buyers are increasingly choosing to put down roots in quieter, greener and more spacious locations. With the rise of remote working and cheaper, larger properties available near highquality transport links, buyers are seeing the merits of escaping cities in favour of a peaceful way of life. Set within historic Northamptonshire, the market town of Wellingborough offers a well-connected escape for those who choose to call it home. A wealth of amenities within easy access, coupled with nearby stunning green space, makes it the ideal place to enjoy life.

WHAT IS THERE TO DO? Choosing to relocate from a larger city does not necessarily mean a small village is the location of choice. Wellingborough hits a fine balance of offering culture, history, retail and dining opportunities alongside the chance to live life at a slower pace. With Swansgate and the nearby Rushden Lakes shopping centres, Wellingborough has a variety of shopping and dining outlets. Popular restaurant chains sit alongside local independent favourites such as Bewitched Coffee and The Terrace, so choosing where to socialise with family and friends is never a challenge. Wellingborough also has a selection of museums and theatres. The Castle Theatre brings live comedy, plays and music to the town, with both The Wellingborough

A CGI impression of Glenvale Park, Wellingborough

Museum and Irchester Railway Museum offering exhibitions and resources about the area’s past. Alongside brilliant facilities and a rich history, the town is surrounded by stunning green spaces. Irchester Country Park and Stanwick Lakes are both a short drive away, allowing for weekend walks and summer evenings in nature. Glenvale Park has space and sustainability at its core, with over 200 acres of parkland in the development, meaning that relocators have the option to live within landscaped green areas.

HOW DO I GET THERE? Wellingborough benefits from direct rail links to London St Pancras station. Less than an hour from the capital, those who work in London are still within easy reach of their offices. Further north, the railway station also provides direct access to key cities in the Midlands such as Leicester, Nottingham and Sheffield. For those who prefer to drive, local road networks connect the town to nearby places such as Northampton, as well as Milton Keynes, Birmingham, Peterborough, and Cambridge, making the town the perfect place for commuters as well as those who love activity-packed weekends.

HOW DO I CALL WELLINGBOROUGH HOME? Wellingborough has a variety of homes designed to suit a range of personal tastes and requirements. For first time buyers looking to benefit from schemes such as the Government-backed Help to Buy: Equity Loan and shared ownership, Glenvale Park is a great choice for those looking to get on to the property ladder in the town. The new community brings quality homes, convenient amenities and exceptional green spaces to the northern edge of the town. Aiming to be an exciting place for residents and visitors alike – with shops, cafes and community centres all set to open – Glenvale Park’s facilities join nearby existing amenities, such as the highly-rated Queens Arms Pub and Glamis Meadow Nature Reserve. Cities offer residents a chance to live a fast-paced life with everything on the doorstep. In the past year, demand has risen for slowing things down. Wellingborough’s combination of retail, culture and nature, along with convenient transport links, makes it perfect for those seeking a big move to a smaller location. For more information about Glenvale Park, please visit glenvalepark.co.uk

58 First Time Buyer August/September 2021

FTB 58-59 Glenvale August-September21.indd 58

13/07/2021 16:24

FTB 58-59 Glenvale August-September21.indd 59

13/07/2021 16:24

AFFORDABLE HOMES

NEXUS – ENFIELD, WHERE EVERYTHING CONNECTS

In the vibrant north London suburb of Enfield, less than 20 minutes from central London and surrounded by green space, NEXUS is a landmark development by Newlon Living in partnership with Countryside Properties

Built around landscaped gardens and play areas, the two contemporary buildings will transform the local skyline while giving residents views across the Lea Valley and towards London. The 54 stylish one and two bedroom apartments possess high specifications throughout and are offered under shared ownership, with prices starting from just £87,000, so you can now get a step up on the property ladder in this highly soughtafter location. Just one minute from Ponders End station, with both the City and many of the capital’s cultural hubs less than half an hour away, NEXUS is ideally placed to make the best of London. The light and spacious interiors with floor-to-ceiling windows, wool mix carpeted bedrooms, and wood laminate flooring to the living areas, are designed with both style and comfort in mind. Kitchens are fitted with Electrolux appliances, while the contemporary tiled bathrooms feature chrome towel radiators and branded

bathroom suites and brassware. Each apartment benefits from having its own private balcony. Access to the apartments is by a video entry system, while there is also plentiful secure bike storage. NEXUS sits within one of north London’s most thriving suburbs, a welcoming neighbourhood of riverside and canalside pubs, artisan markets, local restaurants, craft ale taprooms and a great choice of shops for all your needs. With over 900 hectares of green space, Enfield offers many ways to unwind. Just a short walk from NEXUS, Enfield Town Park is the perfect picnic spot. Running through it is New River, where you can pass swans and ducks on the way to Forty Hall, one of London’s finest manor houses set in beautiful and tranquil grounds. Right on your doorstep, King George’s Reservoir is a wildlife-rich waterway and home to King George Sailing Club. Both walkers and cyclists can explore The Lee Navigation canal that runs all the way from rural Hertfordshire into the centre

of London. Or, for an even more relaxing day out, stroll through the meadows and past the lakes of Trent Country Park, looking out for Muntjac deer, rabbits and pheasants along the way. When it comes to exploring London you couldn’t be better placed. With Ponders End station moments away, you can be in the City in less than 20 minutes. The same West Anglia mainline trains also take you to Tottenham Hale in less than five minutes, where you can jump on the Victoria Line and be in Oxford Street in a quarter of an hour. For weekends away, St Pancras International is under 25 minutes away, while Stansted and Heathrow airports are less than an hour’s drive. And with many local bus routes to rural Hertfordshire villages and towns, there’s always somewhere new to explore. For more information about NEXUS contact the Newlon Living sales team on 0800 058 2544 or visit Nexus-Enfield.co.uk

60 First Time Buyer August/September 2021

FTB 60-61 Newlon August-September21.indd 60

13/07/2021 16:26

FTB 60-61 Newlon August-September21.indd 61

13/07/2021 16:26

AFFORDABLE HOMES

NORTH LONDON LIVING AT ITS BEST

North London is considered one of the most sought-after locations to purchase property in the South East. Along with its many open green spaces, fantastic transport links and abundance of amenities, there is also a wide range of new build homes just waiting to be bought. SiteSales currently has four exciting new developments available to purchase across north London major new station at Old Oak Common, which will be the only location where the new Elizabeth Line and HS2 will meet, making it one of the most connected places in the UK. With prices starting from £110,750 for a 25% share (full market value £443,000) and a new show apartment coming soon, there is no better opportunity to get on to the property ladder.

Montmorency Park

MONTMORENCY PARK, ARNOS GROVE The stunning development at Montmorency Park comprises two and three bedroom apartments, available through both shared ownership and private sale. Located just a short walk from New Southgate station, you can find yourself strolling around the stunning Alexander Palace within a five-minute train journey. Or grab the Piccadilly Line and within 24 minutes you’ll be in King’s Cross where the onward journey options are endless. Shared ownership prices start from as little as £88,500 for a 25% share of a home (with a full market value of £354,000). Private sale properties with Help to Buy: Equity Loan start from £365,000. The homes at Montmorency Park benefit from spacious layouts, balconies or terraces to each home and an impressive range of state-of-the-art appliances. Designed with modern living in mind, each layout allows for the ideal working from home space,

and the landscaped communal gardens provide for the perfect escape at the end of the day. To find out more and register your interest, call 0344 892 0213, visit montmorencypark.co.uk or email montmorencypark@site-sales.co.uk

OAKLANDS RISE, WILLESDEN JUNCTION Perfectly located in the newly regenerated area of Willesden Junction, Oaklands Rise is home to a collection of two bedroom shared ownership apartments by Notting Hill Genesis. This striking development features unique architecture and a breadth of outside space, including a green streetscape, generous balconies and select roof terraces. You can also look forward to a dedicated concierge service, plus commercial spaces, a cafe and community space. Oaklands Rise is at the centre of the £26bn Old Oak and Park Royal development, creating a thriving new area across west London to rival Canary Wharf to the east. Work has already started on a

To find out more and register your interest, call 0344 809 9167, visit oaklandsrise.site-sales.co.uk or email oaklandsrise@site-sales.co.uk

ACTON WORKS, PARK ROYAL Ready to move into this summer, Acton Works comprises 73 new build shared ownership, one and two bedroom apartments. This development is located in Park Royal, in the London Borough of Brent, and is delivered by Network Homes. Outside space is in abundance at Acton Works, with the development being set around tranquil communal and rooftop gardens and all apartments benefiting from private balconies. The meticulously built apartments have an unrivalled specification throughout and offer the best in contemporary city living. Homes are ideally located within walking distance of Harlesden, North Acton and Park Royal underground stations, offering access to the Central and Piccadilly lines as well as the London Overground. Prices at Acton Works start from £82,500 for a 25% share

Oaklands Rise

of a one bedroom apartment (full market value £330,000) and £111,875 for a 25% share of a two bedroom apartment (full market value £447,500). To find out more and register your interest, call 0344 748 0054, visit site-sales.co.uk/acton-works or email actonworks@site-sales.co.uk

WILLIAMSON HEIGHTS, WEMBLEY A unique opportunity to purchase a property on the cusp of the home of English football. Williamson Heights is perfectly located in Wembley Park and offers properties available for both shared ownership and Help to Buy. This vibrant, north west London development benefits from an abundance of amenities, including a concierge service, roof and podium gardens, a cinema room, fitness suite and more. Thoughtfully designed homes have been created to optimise on space and living areas, with at least one generous private balcony per apartment. They benefit from connections to Zone 1 and beyond from Wembley Stadium station and Wembley Park. Shared ownership prices start from £95,750 for a 25% share (full market value £383,000). Properties available with Help to Buy: Equity Loan start from £408,500. To find out more and register your interest, call 0344 892 0208, visit williamsonheights.site-sales.co.uk or email williamsonheights@sitesales.co.uk *Prices and details correct at time of going to print. Help to Buy: Equity Loan and shared ownership terms and conditions will apply and are only available on selected plots. Please speak to a member of the sales team for more information

62 First Time Buyer August/September 2021

FTB 62-63 SiteSales August-September21.indd 62

13/07/2021 16:28

FTB 62-63 SiteSales August-September21.indd 63

13/07/2021 16:28

AFFORDABLE HOMES

OWN A STYLISH SHARED OWNERSHIP HOME WITH ST. ARTHUR HOMES

For first time buyers who are eager to get their feet firmly on the property ladder, shared ownership specialist St. Arthur Homes is offering a collection of high-quality, affordable homes across London and the south of England. Providing aspiring homebuyers with the opportunity to purchase a high-quality home with a lower-level deposit, owning your first home could be more affordable than you think! Comprising an impressive collection of one and two bedroom apartments, St. Arthur Homes’ newest development, Heathbourne Village, offers first time buyers an unmissable opportunity to secure an exclusive shared ownership home with a deposit of just £6,563*. Enjoying a prime position in the attractive Hertfordshire town of Bushey Heath and set within a private gated community, the selection of homes at Heathbourne Village presents buyers with a luxurious specification paired with versatile modern layouts that effortlessly complement the beautiful surroundings of Bushey Heath. Purchasers can enjoy a host of features including entrance gates with number plate recognition and allocated parking with potential for electric charging points. The ground floor apartments enjoy access to their own private gardens. Residents are surrounded by a network of wide leafy boulevards and lush mature trees throughout the development, with the charm and spirit of a traditional village on the doorstep. Popular with commuters, Bushey Heath offers hassle-free road and rail links into London and beyond. Less than two miles away are the M1, A1 and A41. Bushey railway station is also close by and provides residents with direct services into London Euston in under 30 minutes. Offering first time buyers another opportunity to find their dream first property is St. Arthur Homes’ new collection of homes coming soon to the popular Essex village of Felsted. Purchasers will have the chance to secure a beautiful new two or three bedroom semi-detached house at this attractive boutique development with a deposit starting from just £7,438*. Occupying a prime position between Braintree and Great Dunmow, Felsted lies on the north bank of the River Chelmer,

Heathbourne Village

with the charming Felsted village on the doorstep. Each property provides a stylish and uncompromising interior specification alongside spacious and flexible layouts. Residents will also enjoy access to a private rear garden from the open-plan living/dining room and private parking. Ideal for buyers seeking a setting that offers value for money with the buzz of London’s capital just under an hour away, living at Felsted bestows purchasers with the best of both worlds. Felsted village offers a selection of local shops and amenities surrounded by picturesque countryside, with the livelier hubs of Braintree and Chelmsford nearby. For young families with children, Felsted has some of the best Ofstedrated schools in the country – Felsted Primary School is a five-minute walk from the development, and the notable

Felsted School is one mile away and offers education from pre-prep to sixth form age. Commuting from Felsted couldn’t be easier. If travelling by car, the A120 is less than five minutes away and connects residents to routes into London via the A12 and M25. By train, Braintree Station is nearby and provides regular services into London Liverpool Street and Stratford in just over an hour. For more information about Heathbourne Village and to register for updates ahead of the launch of homes at Felsted, please visit starthurhomes.com or call 020 3745 4470 *Deposit figures represent buyers using a 5% deposit to purchase between a 25% and 45% share of the property’s full market value at Heathbourne Village, and between 35% and 50% of the full market value at Felsted. Subject to mortgage lender’s criteria

64 First Time Buyer August/September 2021

FTB 64-65 St Arthur August-September21.indd 64

13/07/2021 16:29

FTB 64-65 St Arthur August-September21.indd 65

13/07/2021 16:29

REAL LIFE

Shared ownership to open market: Colchester After getting married when she was 17, Maureen wanted a place that she and her husband could call their own, but with both on minimum wage, purchasing a property seemed a long way off. Having nearly given up hope, two years later they heard about shared ownership and managed to buy a two bedroom home in Colchester

aureen Welham and her husband always wanted to buy their own home but as she explains, “I got married very young, when I was just 17, and we were desperate to have a place of our own. I was an apprentice dental nurse and my husband was a security guard – we were both earning minimum wage and living in my parents’ box room – so when went to the bank to ask about getting a mortgage, they wouldn’t give us one unless we had a 10% deposit. At that point, we were only saving a couple of hundred pounds a month so getting enough money for a 10% deposit on the open market would’ve taken forever.” Two years later, Maureen, aged 19, had almost given up hope of buying a property when a colleague asked if she’d considered alternative homeownership schemes and suggested the couple looked on the Share to Buy website. She said, “It was around then that a friend at work, who was living nearer to London, mentioned shared ownership to me. She’d just signed up on the Share to Buy website and said I should register too. I thought that shared ownership was mainly in London and I didn’t

think they’d have anything in Colchester, but thought I’d have a look anyway. “I didn’t know much about shared ownership, so the Share to Buy website was really helpful, giving me all the information that I needed about the scheme. It turned out that there were a few properties in my area, so I registered for all of them! I didn’t think we’d be in with a chance of getting any of them because we were so young, but pretty quickly Chelmer Housing Partnership (CHP) called us and invited us to a viewing.” In April 2014, Maureen and her husband purchased a 40% share of the two bedroom house for £67,000 with a full market value of £167,500. “The property was a lovely two bedroom midterrace house, with a garden and a shed and two parking spaces – I couldn’t believe we could afford it! It was also right by my old school and less than five miles from my parents’ house, so I knew the area really well. CHP did everything for us – it was so easy! “The financial assessment was just an hour long; our adviser was really helpful and went through the whole process with us, telling us all

FA C T F I L E

Property: Two bedroom house Full market value: £167,500 Share: (40%) £67,000 Deposit: £3,350

about shared ownership and staircasing and what to do when you want to sell.” The couple moved out of Maureen’s parents’ house a couple of months later and into their new home. After a couple of years in the property and having their son, Joey, Maureen’s situation changed. “My husband and I split up after a couple of years. We both found new partners, and my ex-husband was happy to move out and sell his share to my new partner, Dan. CHP helped Dan buy out my ex-husband’s share in the property; they made the process very straightforward and it was all sorted within a couple of months.” By early 2019, Maureen had two children, and her and Dan decided they needed more space so they got in touch with CHP and began the resales process. “My youngest was nearly a year old, and we just

“I DIDN’T KNOW MUCH ABOUT SHARED OWNERSHIP, SO THE SHARE TO BUY WEBSITE WAS REALLY HELPFUL, GIVING ME ALL THE INFORMATION THAT I NEEDED ABOUT THE SCHEME” 66

Sale value: Full market value: £215,000 Share: (40%) 86,000

needed more space for the four of us, so we contacted CHP and told them we wanted to sell. CHP arranged a valuation of the property, and our share was valued at £86,000 – £19,000 more than we’d originally paid. I couldn’t believe it – I didn’t think that the value of new builds went up! We hadn’t even done any work to the property; we’d just sat on it for five years so it was amazing.” Using the equity from their shared ownership home, Maureen and Dan were able to take the next step on the property ladder and purchase outright – something that they’d always wanted to do. Maureen concludes, “CHP sold our house to another young couple, and we were able to use the extra £13,000 from our shared ownership sale to purchase a three bedroom house on the open market, which we now own outright. It’s a lovely property with a garage and a garden that backs on to a massive field. We definitely couldn’t have done it without shared ownership.” chp.org.uk sharetobuy.com

First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 66

13/07/2021 16:30

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 searching for a sleek city apartment or your first home on a budget, we hope you will enjoy our selection

REAL LIFE

Shared ownership p72 WHITFIELD, KENT

HOIC FIRST C

COASTAL RE★TR★E★AT

Affordable homes p68-69

B O W, E A S T L O N D O N

HOIC FIRST C

EASTERN

PRO★ ★M★ISE Capital cool p70-71

First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 67

13/07/2021 16:31

FOR SALE

AFFORDABLE HOMES WHITFIELD, KENT

HOIC FIRST C

FROM £309,995

COASTALT RETR★E★A ★

Richmond Park This collection of two, three and four bedroom homes lies close to the pretty village of Whitfield, near Dover, with Kent’s rolling hills as its backdrop. The new community is perfectly situated for family life filled with outdoor adventure and peaceful pastimes. On-site facilities will include a new primary school and local shop, while everyday amenities can be found in the village, a short walk away. The three bedroom houses feature open-plan living areas leading to a back garden, downstairs cloakroom, en suite from the master bedroom, and allocated parking. London is around an hour’s commute, while Dover town and its magical white cliffs and coastline are approximately a 10-minute drive. Barratt Homes 0333 3558 502 barratthomes.co.uk

First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 68

13/07/2021 16:31

FOR SALE FROM £95,000*

ELMSWELL, SUFFOLK

FROM £222,000

READING, BERKSHIRE

Potters Warren Countryside and calm abound at this new collection of properties in Elmswell, while good commuter links ensure a faster pace of life is never far away. The 69 three and four bedroom homes combine traditional and contemporary styling and fit beautifully with the stunning Suffolk surrounds. Inside, living spaces are smart,

bright and stylish, with high-spec features throughout. Trains from nearby Elmswell station take travellers to the mediaeval town of Bury St Edmunds in 12 minutes, with Ipswich around 20 minutes and Cambridge in under an hour. Clarion Housing 0300 100 0309 potterswarren.co.uk

*Based on a 25% share of the full market value of £380,000

M I D D L E T O N, G RE AT E R M A NCHE S TE R

FROM £274,995

Renaissance The lively town of Reading is a short drive from this fantastic range of one, two and three bedroom apartments. With an excellent array of opportunities for entertainment, culture, history, shopping and more in the town, as well as natural beauty close by and good commuter links, this is a fantastic

location for young professionals and families. The homes have spacious open-plan interiors, contemporary fitted kitchens and parquet-style flooring. There’s designated parking, and garages to the larger homes. Bellway 0118 911 4942 bellway.co.uk

E B B S F L E E T G A R D E N C I T Y, K E N T

FROM £80,500*

Millfields The North Manchester suburb of Middleton is an increasingly popular place for homebuyers, with trains to the city centre taking under 10 minutes. The new homes at Millfields range from two to four bedrooms and have been created in a variety of styles. The three bedroom detached properties feature

separate lounge and kitchen/ dining rooms, downstairs WC and an en suite from the master bedroom. Nearby Middleton is home to shops, supermarkets and eateries, while lovely countryside and footpaths are a stroll away. Elan Homes 0845 322 4211 elan-homes.co.uk

Castle Rise at Unity Gardens Castle Rise sits at the heart of the ongoing development of Ebbsfleet Garden City, with superb transport links, green space, shopping and local facilities well within reach. As well as the existing countryside, there will be seven new parks in the area, along with lakes – all perfect for active days

out. The one and two bedroom homes here have been designed beautifully, with bright, openplan living areas, sleek, fully integrated kitchens and generously sized balconies for taking in the local sights. Clarion Housing 0300 100 0309 castlerise.co.uk

*Based on a 35% share of the full market value of £230,000

First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 69

13/07/2021 16:31

FOR SALE

CAPITAL COOL B O W, E A S T L O N D O N

HOIC FIRST C

FROM £92,500*

EASTERN

ISE PRO★ M ★★

The Forum This boutique collection of just 14 apartments occupies an iconic spot at the end of east London’s famous Roman Road market. Lovely Victoria Park and Regents Canal are a few minutes away on foot, while Shoreditch and Hackney are a short bus ride. Shops, eateries, good pubs, a GP surgery and gym all lie within walking distance. The contemporary homes are bright and spacious, with built-in storage and openplan living areas that lead to a private balcony or large, wrap-around terrace. Travel links are excellent: buses run regularly to the City, while a choice of local DLR or tube stations will take you to Canary Wharf or central London in under 15 minutes. Gateway Housing 020 8709 4317 newhomes.gatewayhousing.org.uk *Based on a 25% share of the full market value of £370,000

70 First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 70

13/07/2021 16:31

FOR SALE WALTHAMSTOW, EAST LONDON

FROM £91,250* ROYAL DOCKS, EAST LONDON

FROM £78,750*

The Chain With communal gardens, private balconies and terraces, plus lovely open spaces and reservoirs nearby, there’s a focus on outdoor living at The Chain. Located in popular Walthamstow, E17, the one and two bedroom homes are conveniently located for enjoying life in the area and in the city beyond. Walthamstow

tube station, for Victoria Line services to central London, is around a 10-minute walk, while a good number of shops, eateries and market are close by – including Crate, home to a gym, coffee shops and cafes. L&Q 020 8189 7479 lqhomes.com

*Based on a 25% share of the full market value of £365,000

STONEBRIDGE, NORTH WEST LONDON

FROM £110,000*

Royal Albert Wharf Just a few miles east of 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. With a great range of cafes, workspaces and bars within seconds from

the front door, they are ideal for professionals working in the city, from home, or both. Getting around the capital is easy, too – Gallions Reach DLR is a fiveminute walk away. Notting Hill Genesis 020 3944 8054 nhgsales.com

*Based on a 25% share of the full market value of £315,000

TOTTERIDGE, NORTH LONDON

FROM £101,250*

Helix A top choice for commuters, this new collection of one, two and three bedroom apartments is superbly located in Stonebridge, close to vibrant Harlesden in north west London. The one, two and three bedroom homes are all generously sized, with open-plan living/dining areas, well-sized balconies or gardens, and en

suites in the larger properties. Residents share communal grounds, and have access to off-street parking. Services from Harlesden station, in Zone 3, reach Paddington in 16 minutes and Euston in 22 minutes. Hyde New Homes 0345 606 1221 hydenewhomes.co.uk

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

SO Resi Totteridge Combining good tube links, stylish interiors and landscaped gardens, these new apartments in north London are proving popular, with two bedroom properties remaining. These feature open-plan living areas with a balcony, hallway storage, tiled bathroom and en suite from the master bedroom. Positioned

on Whetstone High Road, residents are spoilt for choice when it comes to amenities, while the neighbouring areas of Mill Hill, Highgate and East Finchley have a great deal to offer, including plenty of green space. SO Resi 020 8607 0550 soresi.co.uk

*Based on a 25% share of the full market value of £405,000

First Time Buyer August/September 2021

FTB 66-71 For-Sale August-September21.indd 71

13/07/2021 16:31

REAL LIFE

Shared ownership: Redhill

Shared ownership is booming among young people, with 26 to 30-yearolds accounting for 26% of buyers according to research by SO Resi and Cambridge University.¹ One first time buyer, Matt Booth, 29, saw shared ownership as an opportunity to get himself on to the property ladder. He purchased a 40% share of a one bedroom apartment for £100,000 with a full market value of £250,000, at SO Resi Redhill in Surrey

att had been renting a room in a friend’s apartment locally in Redhill but decided that he wanted to buy his own home after receiving some inheritance money. He was able to put down a 50% deposit of £50,000 on his 40% share and moved into his new home earlier this year. Thanks to his high deposit, Matt now pays just £150 a month for his mortgage payment, while his monthly rent and service charge is just under £400. Matt, a purchasing manager for a warehouse company, comments, “I have a couple of friends who have used shared ownership, and I thought it seemed like a good way to get on to the property ladder. I came across SO Resi Redhill and really liked the development – I felt that the size of the property I could buy with the money I was putting in was really good value.

“Even though I was fortunate enough to have a sizeable deposit to put down, without shared ownership it would have been very difficult for me to buy a home of my own. I’m really pleased that I just went for it as it feels so good to have my own space now, particularly as I will be working from home half of the week going forward.” Matt also made the decision to sign up to SO Resi Plus, which allows him to staircase by 1% each year at a fixed price for 15 years. This was introduced in 2017 by SO Resi following feedback from customers that they would be more likely to staircase if they could purchase smaller shares. “By staircasing gradually, it means I will increase my stake in the property over time, and I will have a larger share to sell when I decide to move in the future,” adds Matt. “The 1% option is much more appealing

“EVEN THOUGH I WAS FORTUNATE ENOUGH TO HAVE A SIZEABLE DEPOSIT TO PUT DOWN, WITHOUT SHARED OWNERSHIP IT WOULD HAVE BEEN VERY DIFFICULT FOR ME TO BUY A HOME OF MY OWN” 72

FA C T F I L E

Property: One bedroom apartment Full market value: £250,000 Share (40%): £100,000 Deposit: £50,000 Monthly mortgage payments: £150

than having to save up and put down another 10% all in one go.” Matt plans to stay in his apartment for the next few years and was keen to remain in the Redhill area after growing up locally, with family and friends living nearby. “Redhill is a fantastic location and is really central for me when it comes to work and socialising. I didn’t want to have to move out of the area, so I’m pleased that shared ownership has offered me the opportunity to stay local and become a homeowner.” SO Resi Redhill is conveniently located within walking distance of a selection of supermarkets, shops, eateries and gyms, as well as twice-weekly, open-air markets along tree-lined pedestrianised Redhill High Street. For those looking to enjoy the outdoors, the Surrey Hills Area of Outstanding Natural Beauty is nearby, while beautiful Box Hill is also less than 20 minutes’ drive away. SO Resi Redhill is just moments from Redhill railway station, with fast trains connecting residents to London Bridge in around 30 minutes, while London King’s Cross and Bank are 50 and 60 minutes respectively. For travel further afield, Gatwick airport is a quick 13-minute train journey away. Two bedroom apartments at SO Resi Redhill start from £129,000 for a 40% share with a full market value of £322,500. To find out more about SO Resi Redhill, visit soresi.co.uk or call 020 8607 0550 1 soresi.co.uk/blog/shared-ownership-market-review-2020

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 72

13/07/2021 17:34

VOTE NOW! We take our readers very seriously and want to know your views as first time buyers. That’s why we need you to vote for your favourite developments, housing providers and other categories, listed on the following pages, in our First Time Buyer Readers’ Awards 2021. You could win £250 in IKEA vouchers! For more details, see page 98

Vote at ftbawards.com

FTB 72-99 FTB-Awards August-September21.indd 73

13/07/2021 17:34

BEST SMALL DEVELOPMENT AFFORDABLE HOMES

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

DEVELOPING LONDON GROUP | STATION ROAD This small six-unit development in Station Road, Chingford, E4, came from a developer whose early career evolved working on super high-end developments and interior design, which coupled with a grounded family upbringing, motivated an attitude to bring quality finishes and product to more realistically priced homes. Clayton Lyon’s knowledge of materials and technologies within sustainability and construction allows him to offer more affordable, bespoke design within very spacious homes, targeting entry level prices of the housing market. This development’s tight 3.3m access created a considerable and difficult logistical challenge, coupled with a complex top-down steel frame construction and plunge piling network. This included a large green field discharge rated compliant subterranean concrete storm tank. The finishes are bespoke, as is the interior design to each apartment. Commitment is given to ensure a large amenity space, which is thoughtfully landscaped. Internal communal areas are finished in the same brick face as the external stock bricks, and the glass balustrading and brushed chrome frame finishes the exterior well.

GECKO HOMES | DUNSTER DRIVE Tucked away in a corner of Flixton in Trafford, Greater Manchester, this small development consists of only four two bedroom semi-detached homes. Sympathetically built within an established residential area and carefully designed to complement the surrounding neighbouring homes, these homes sit discreetly off Dunster Drive. It’s an enviable location that has successfully managed to carve out a tranquil environment through clever use of space and enjoys uninterrupted views of horses in the fields to its side. There’s not many places where you can enjoy views like these within an urban metropolis. Designed with affordability in mind, these homes are offered to purchase on a shared ownership basis, which allows residents to buy a share of their home, starting from only 40%, and rent the remaining share. These two bedroom homes are targeted at first time buyers and are ideal starter homes for those looking to get on to the property ladder and also perfect for new families looking to start a new chapter in their lives. They come packed with modern features including patio doors that extend into the garden for contemporary living and modern conveniences like the downstairs WC, essential when raising young ones.

INLAND HOMES | VENUE, MAIDENHEAD Comprising just 39 one and two bedroom apartments on Oldfield Road in Maidenhead, Venue is a striking development set over just three levels, within a few minutes’ walk of the town centre, rail station and the River Thames. Planned around the busy lifestyle of young professional singles and couples, each spacious apartment features a sleek, grey Nobilia kitchen with fully integrated appliances, underfloor heating throughout and hyperoptic broadband for increased working from home and streaming in leisure time. Stunning glass-fronted balconies, landscaped communal grounds and secure undercroft parking add to the executive detailing and inspiring environment. Three-quarters of the homes already reserved at Venue have been secured by first time buyers taking advantage of the perfect balance of aspirational location, high specification and enviable design. One bedroom apartment prices start at just £290,000, rising to £360,000 for a two bedroom apartment.

buyer

74 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 74

READERS’ AWARDS

13/07/2021 17:34

Sponsored by

buyer

MOAT HOMES | CULVERLEY GARDENS

READERS’ AWARDS

Culverley Gardens offers first time buyers the winning combination of exclusively affordable housing, Edwardian-inspired architecture, outdoor spaces for each home and inclusive design for wheelchair users, all in the heart of Catford, London. Designed by award-winning Alan Camp Architects and built by developer Skillcrown, the Moat Homes development repurposed a garden centre into 27 one, two and three bedroom apartments to meet growing housing need. Twenty-five apartments were earmarked for shared ownership, and two provide homes for affordable rent. First time buyers have been delighted with the excellent location, transport links, and features that aren’t often seen in new build apartments, such as large bay windows, private south-facing balconies or gardens for each apartment, and private entrances to ground-floor properties. As Lewisham Council seeks to meet targets of 2,700 new homes in Catford, Culverley Gardens has set a high bar for homes which combine outstanding style, affordability, location and function.

SUSSEX WEALD HOMES | WOODPECKER VIEW Situated within 15 minutes’ walk from Crowborough railway station, Woodpecker View is the transformation of the former council refuse depot. The 0.90-hectare site, located within a residential area, is excellent use of brownfield land. Just 34 homes are set in a cul-de-sac location and are ideal for first time buyers, second steppers or downsizers. This attractive collection of stylish homes of varying designs has been completed considerately, with the only additions needed being window dressings and furniture. Woodpecker View is home to a variety of mature trees and landscaped green spaces, including a natural wildlife buffer; a protected ecological habitat allowing native wildlife, flora and fauna to co-exist and thrive alongside new residents. The perfect combination; a chance to set up home in an Area of Outstanding Natural Beauty, surrounded by places to walk and enjoy the great outdoors, only an hour’s commute from London.

TAILORED LIVING SOLUTIONS | 87 GREENWICH HIGH ROAD 87 Greenwich High Road comprises 14 one, two and three bedroom apartments, including two spectacular penthouse suites. Each home is at the forefront of design, featuring spacious dual-aspect open-plan layouts, south-facing balconies and a number of high-tech sustainable features, including state-of-the-art Wondrwall home-automation systems in every apartment. The elegant development has a distinctive pillared facade and the wide balconies help to maximise internal light and provide pleasing vistas out across Greenwich. The building is entered via the residents’ entrance, controlled by Bticino visual entry system that can be used from residents’ smartphones. From here, residents can access their post from MySmartBox parcel lockers, a private lift to upper levels and secure bicycle storage.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 75

First Time Buyer August/September 2021

13/07/2021 17:34

BEST USE OF INTERACTIVE TOOLS

THIS EXCITING NEW AWARD CATEGORY CELEBRATES THE INTEGRATION OF TECHNOLOGY WITHIN THE HOUSING MARKET. THIS AWARD LOOKS AT HOW A SCHEME OR DEVELOPMENT HAS ENGAGED WITH TECHNOLOGY, MAKING ACCESS OF INFORMATION EASIER FOR FIRST TIME BUYERS. THIS INCLUDES THE USE OF ONLINE VIEWING TOOLS, VIDEO FOOTAGE, AS WELL AS WEBSITES, DIGITAL MARKETING AND DIGITAL BROCHURES.

BARRATT DEVELOPMENTS PLC Barratt Developments is Britain’s largest and best-known housebuilder, and a leader in helping first time buyers get on the housing ladder. Following the coronavirus pandemic and the onset of Government restrictions, Barratt realised that in order to meet the needs of its customers across the country, it had to find a way to give its buyers an opportunity to “view” the homes available in a safe and secure way – from the comfort of their own home. By investing in new interactive tools and virtual viewings, it was able to continue to deliver the first-class customer service its buyers expect, supporting the economy and helping first time buyers and second steppers on to the ladder throughout the pandemic, despite the challenges posed by lockdown restrictions.

BROADWAY LIVING ThinkHub+ – an innovative new online system, pioneered by Ealing Council’s development arm Broadway Living – is revolutionising the way first time buyers access information. This highly interactive customer experience goes far beyond traditional “virtual tour” software, delivering a life-like alternative to a show home visit. Engaging and easy to use, ThinkHub+ provides a detailed interactive tour of every apartment type together with communal spaces, landscaping and other outdoor amenities. Accessible on any device, at any time or place, customers can generate a CGI to keep at any stage of their tour. Designed for Ealing Council by Think BDW, ThinkHub+ was introduced during lockdown in England to support the launch of new homes at Broadway Living’s Copley W7 development in Ealing. ThinkHub+ is proving popular with first time buyers – especially those buying off-plan, who welcome the reassurance of visualising their specific home – and is leading the future of digital customer experiences.

CATALYST Catalyst’s thirst to do things differently has propelled it into the forefront of digital innovation in the property market. Its “Drive to Digital Strategy” saw the leading housing association use interactive tools to both draw buyers to Catalyst as well as streamline the buying process, with its significant investment in digital technology putting it in prime position to adapt to the challenges of Covid-19. A new digitally optimised website launched in March 2020, presenting Catalyst’s range of developments alongside a mix of educational and news content. Meanwhile, its ground-breaking virtual preview events saw Catalyst continue to launch new developments online throughout 2020, offering first time buyers new opportunities to get on to the property ladder. Capitalising on non-traditional digital marketing tools, such as Sky AdSmart television campaigns, influencer activity and extensive video content, Catalyst managed to engage with more customers than ever before, resulting in a record year for sales.

buyer

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 76

READERS’ AWARDS

13/07/2021 17:34

Sponsored by

buyer

EAST WICK + SWEETWATER

READERS’ AWARDS

East Wick + Sweetwater (EW+S) is a new, residential-led mixed use community in the iconic Queen Elizabeth Olympic Park. Delivered in a joint venture by Places for People and Balfour Beatty Investments, on behalf of London Legacy Development Corporation, EW+S has been designed by a team of leading architects including Sheppard Robson, Studio Egret West, A-Studio and Piercy & Company, alongside landscape architects Fabrik London. Eventually bringing more than 1,800 new homes available through a wide mix of tenure, this major new community will also see new schools, nurseries and community spaces flourish. Phase one includes over 300 homes alongside commercial spaces, new open spaces and a play area. Marketed exclusively via digital channels until the launch of the marketing hub, EW+S is unique in that no printed marketing materials have been created. Instead, the team has focused on a highly interactive, digital user experience to attract purchasers, many of them first time buyers, centered around a three-dimensional virtual world, an engaging website, social media and videos. This approach carries all the way through the selling process – done mostly through e-signing – as well as aftercare with a 24/7 customer portal.

MILLER HOMES Innovation has been and continues to be a key focus for Miller Homes. Our overall digital strategy is designed to enhance the customer journey, underpinning the core value of our business ethos, The Miller Difference, which puts our customers at the heart of everything we do. We recognise that for many buyers, and in particular the first time buyer demographic, technology plays a significant part in their buying decisions and we continually invest and adapt to changing consumer behaviour to ensure we stay relevant and current. We have achieved this in many ways, including the introduction of an app of our My Miller Home customer portal and an online options visualiser, which allows customers to choose their options via the portal, to complement our ground-breaking online reservations system as well as successfully moving many of the key aspects of our customer journey online during 2020.

SWAN HOUSING ASSOCIATION Swan Housing Association is revolutionising new homes by offering future residents of its Beechwood Development in Basildon, Essex, the ability to design their own homes, creating spaces that suit their lifestyles, needs and personal preferences using a specially built online configurator. Such dreams are no longer reserved for the select few who could afford the luxury of planners, architects, interior designers and stylists. Customers can use the interactive tool to design their homes from inside out and top to bottom, before they are built to spec in our modular factory in Basildon and then assembled on site. Once customers select their preferred house type, they can choose external finishes such as roof tiling, doors and windows and set out the internal layout before adding finishes such as sockets and taps. Creating somewhere that they can truly feel at home, all at the click of a button.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 77

First Time Buyer August/September 2021

13/07/2021 17:34

E16

BEST FIRST TIME BUYER APARTMENT AFFORDABLE HOMES

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

BE WEST | WATERSIDE HEIGHTS An impressive collection of 65 shared ownership apartments in immensely wellconnected West Drayton, Waterside Heights by Be West offers first time buyers the very best in apartment living. A place where spacious homes, each with private outside space, are set within attractive private, fully landscaped communal grounds alongside the Grand Union Canal, Waterside Heights offers a chance for first time buyers to put down roots in an increasingly popular west London suburb. Built around fully landscaped communal gardens exclusively for residents, Waterside Heights features larger than average interiors highlighting that apartment living doesn’t have to come at the sacrifice of space. Helping to keep costs down for new homeowners, Waterside Heights offers lower than average service charges – helped by photovoltaic roof panels – and no charge for ground rent. Rare for shared ownership apartments, Waterside Heights is 100% pet friendly – meaning that Waterside Heights offers the perfect home for every member of the family.

CLARION HOUSING | ASCOT HOUSE Defined by affordability, a glorious Surrey location and stunning private and communal outside space featuring podium gardens and a magnificent roof terrace, Ascot House earns its status as an impressive first time buyer residence. Exclusively available through shared ownership and moments away from Staines-uponThames’ bustling high street and train station, the location is complemented with quieter pockets of green. The river provides a great focus for leisure and sports, with scenic Thameside paths for walking and cycling, boating and rowing. Buyers here will also benefit from superb travel links by road, rail and air, connecting them swiftly to central London, Heathrow airport and major motorways. Plot three represents a typical home here, showcasing carefully considered design, flexible living space and a deluxe finish. Paving the way for those wanting to take a step on to the property ladder, the evolving lifestyle needs of today’s first time buyers have been placed at the forefront in this spacious two bedroom apartment.

NOTTING HILL GENESIS | HERON QUARTER AT WOODBERRY DOWN A striking collection of 62 one and two bedroom apartments available to purchase via shared ownership; Heron Quarter at Woodberry Down has proved the perfect choice for those looking to kick-start their homebuying journey. Apartment two is a bright and airy one bedroom property, with an open-plan living space, full-height windows and a large private terrace that clearly demonstrates the lifestyle on offer here. A partnership between Berkeley Homes, Hackney Council and Notting Hill Genesis, Woodberry Down exemplifies serene London living. Boasting a spectacular lakeside setting facing the West Reservoir and panoramic views of the London skyline, Woodberry Down has been designed to benefit its residents’ health and wellbeing. Residents can enjoy an already thriving community and a range of amenities, with the key focal point being the connectivity to a wealth of outside space this development offers. Located just a few minutes walk from Manor House underground station in Zone 2, there is no better place to explore what the city has to offer. Heron Quarter offers a lifestyle where first time buyers can immediately feel at home and discover their very own London oasis.

buyer

78 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 78

READERS’ AWARDS

13/07/2021 17:34

Sponsored by

FINANCE

buyer

ONE HOUSING | FARRINGDON WALKS

READERS’ AWARDS

Farringdon Walks from One Housing offers aspirational first time buyers an incredible opportunity to purchase an affordable, premium apartment in one of the most exciting new developments in the heart of London. The exceptional flagship site unfolding at the historic Royal Mail Mount Pleasant sorting office boasts design flair from celebrated architectural studios Feilden Clegg Bradley Studio, Wilkinson Eyre, and Allies and Morrison, and covers a six-acre site, providing 681 new homes, over 20,000 sq ft of retail space, and beautifully landscaped public and private open spaces. One Housing’s exclusive one and two bedroom shared ownership apartments have a more generous square footage than average London pads in this location, and are quite simply outstanding value for the quality and size of the apartments and the sensational site proposition.

PEABODY | SOUTHMERE With picturesque views of the tranquil Southmere Lake and overlooking the bustling Cygnet Square, the collection of apartments in Swift Court offers more than just a place to live for first time buyers. These homes offer a place to explore with new shops, leisure, fitness, resident and commercial facilities. A place to be creative, with a regular programme of co-designed activities and community initiatives in place. A place to be connected within a 10-minute walk, where Abbey Wood station is soon to be home to the Elizabeth Line. And a place to relax and escape as there’s nowhere in London with the amount of green spaces and waterways than in Thamesmead. Offering true affordability to first time buyers, the apartments are already 70% sold within one month of launch. The time for Thamesmead to realise its full potential and become London’s New Town has begun.

POCKET LIVING | VARCOE ROAD SE16 At Varcoe Road SE16, Pocket Living has created the ideal first time buyer apartment. This development of 57 affordable homes in Zone 2 delivers what first time buyers really want from their homes: affordability, a well-designed home near the centre of London and thoughtfully created communal areas. All of these homes are affordable, sold at a discount of 20% from the local market to first time buyers in the area, and are owned 100%. The award-winning Pocket home is designed to be a comfortable, highly functional first home, making the best use of every inch of available space and incorporating features that fit the way London’s first time buyers live. The five communal areas at Varcoe Road have been created to enhance residents’ quality of life, from the co-working room and the double-height sun room to the three landscaped terraces with views over London, these spaces allow residents to meet and encourage a sense of community.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 79

First Time Buyer August/September 2021

13/07/2021 17:34

BEST LARGE DEVELOPMENT AFFORDABLE HOMES

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

ANDERSON | FAVERSHAM LAKES Faversham Lakes is an impressive and innovative development from leading construction and property company Anderson. Once complete, it will boast 330 two, three, four and five bedroom contemporary homes set in a 100-acre plot that includes a vast country park teaming with wildlife habitats, designated footpaths, reedbeds, lagoons, bird hides and orchards. The scheme expands on the concept of boundless living with houses embracing spacious open-plan living as well as the idea of bringing the outside in. The development presents superb opportunities for first time buyers with 35% affordable housing included along with a range of different size options and price points and access to the Help to Buy scheme. In addition, it offers excellent transport links, education provision and community assets which all tie into the development ethos of “room to grow, room to play and room to live”.

BARRATT DAVID WILSON HOMES | KINGSBROOK Kingsbrook in Aylesbury is a mixed-use development of nearly 2,500 new homes split into three villages. The scheme, by Barratt David Wilson Homes, has nature and wildlife at its heart, with 60% of the land given over to open spaces, including a 250-acre nature reserve, allotments, community orchards, parks and playgrounds. The developers have worked with the RSPB and Aylesbury Vale District Council to make Kingsbrook the UK’s first fully nature-friendly housing development, and it has achieved Built for Life status. The wide range of one to five bedroom houses on offer provides something for everyone, including one, two and three bedroom homes that are perfect for first time buyers, available with Help to Buy from £250,000. Kingsbrook has brought great improvements to the area, including an expanded bus service, new cyclepaths and walking trails, new schools, a health centre, community halls and a wide range of leisure and sporting facilities.

BDW – BARRATT AND DAVID WILSON HOMES | LADDEN GARDEN VILLAGE With hundreds of people now living in the thriving new community of Ladden Garden Village outside Bristol, this development is rapidly becoming one of South Gloucestershire’s most sought-after destinations. Almost 2,500 homes will be built at Ladden Garden Village, surrounded by 32 acres of public open space, including three acres of allotments and 4.5 km of cycleways and footpaths. Offering a full range of stylish, contemporary homes from Barratt Homes and David Wilson Homes, the development sits on the outskirts of the flourishing town of Yate, south west of the Cotswolds, and within easy reach of both Bristol and Bath city centres. In total, 159 first time buyers have already made Ladden Garden Village their home, in more than half (55%) of the homes sold so far.

buyer

80 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 80

READERS’ AWARDS

13/07/2021 17:34

Sponsored by

buyer

COUNTRYSIDE | GREENWICH MILLENNIUM VILLAGE

READERS’ AWARDS

Greenwich Millennium Village is a joint venture development by Countryside and Taylor Wimpey, in association with the Mayor of London. Characterised by its green surrounds and set beside the River Thames, the development includes a four-acre Ecology Park and a large open park, known as Southern Park. Greenwich Millennium Village is a beacon for how large, modern, urban development can move beyond the numbers to create places people love. Ultimately it will create more than 2,800 new homes, set within distinct neighbourhoods and designed with landscaped courtyards linked by tree-lined avenues creating a village feel. Already home to a wellestablished community, the development’s village square, Oval Square, has everything a place needs to thrive. There is also the Outstanding Ofsted-rated Millennium Primary school and a nursery for children aged up to four, Millennium Minis.

EAST WICK AND SWEETWATER | EW+S East Wick + Sweetwater (EW+S) is a new, residential-led mixed use community on Queen Elizabeth Olympic Park. Delivered in joint venture by Places for People and Balfour Beatty Investments, on behalf of London Legacy Development Corporation, EW+S has been designed by a team of leading architects including Sheppard Robson, Studio Egret West, A-Studio and Piercy & company, alongside landscape architects Fabrik London. EW+S seeks to create a new community that seamlessly connects Queen Elizabeth Olympic Park with Hackney Wick & Fish Island, eventually bringing more than 1,800 homes (through a range of tenures), new green spaces and play areas alongside commercial opportunities for local businesses to thrive. Phase one is almost complete, including over 300 homes (more than 40% of which are affordable) alongside a nursery, commercial spaces and new open spaces. Clarnico Club serves as the beating heart of the new neighbourhood, acting as a multi-purpose social hub with a cafe, flexible event space as well as a marketing hub. As part of phase one, in partnership with Make Shift, EW+S and LLDC have opened Hackney Bridge, an exciting new canalside destination with workspaces, markets, restaurants and bars.

GARDEN CITY HOMES | SCHOLARS FIELDS We believe Garden City Homes based in Wythenshawe, south Manchester, is a developer making a difference, by putting customers and social value at the heart of everything we do. Our £26m Scholars Fields development, part-funded with a £3.3m grant from Homes England, is located in leafy Wythenshawe, eight miles from Manchester city centre. The development comprises 147 new homes, offering 80 for shared ownership, 29 for outright sale and 38 rent to buy apartments. It has an impressive track record with the benefits it has provided to the local community such as training and job opportunities, as well as providing much-needed homes for the area. In total, the development has achieved an impressive £5,422,978 social return on investment, this includes local labour and spend and is 27.7% of the overall project value.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 81

First Time Buyer August/September 2021

13/07/2021 17:35

Sponsored by

BEST PARTNERSHIP AFFORDABLE HOMES

THIS EXCITING NEW AWARD CATEGORY CELEBRATES A COLLABORATION OF TWO OR MORE COMPANIES WHICH HAVE WORKED TOGETHER TO DELIVER BOTH QUALITY AND AFFORDABLE HOMES FOR FIRST TIME BUYERS. IT WILL HIGHLIGHT BEST PRACTICE OF PARTNERSHIP WORKING WITHIN THE HOUSING SECTOR AND CHAMPIONS THE ETHOS OF WORKING TOGETHER TO DELIVER MORE.

COUNTRYSIDE AND L&Q | BEAULIEU Countryside Zest is a 50/50 joint venture between Countryside Properties PLC and L&Q, set up to ensure the successful delivery of Beaulieu – one of the most important new developments in Essex, a sustainable urban expansion for Chelmsford. It was born from a shared vision between the partners, and the result of extensive partnership working with Chelmsford City Council and Highways England. Beaulieu demonstrates what can be achieved through combined strategy, to create a vibrant, integrated community that offers a blend of inspirational architecture, attractive landscaping and public realm, a plethora of amenities, new transport connections including a train station, sports facilities, community gardens and more. The landmark 610-acre development, set in King Henry VIII’s former hunting grounds, brings together quality new homes in a range of styles to suit different tastes, preferences and income levels; one bedroom apartments to six bedroom houses are available through private sale with Help to Buy, shared ownership and rent.

OPTIVO AND WESTERHILL HOMES | FORSTAL MEAD Forstal Mead in Coxheath, Kent, is a collaboration in partnership between Optivo and Westerhill Homes, which is part of Chartway Group. The 210 homes range from two bedroom apartments to five bedroom family homes. There’s an inclusive tenure mix of affordable rent, shared ownership and private sale, meaning we can provide something for every situation and budget. The cross-selling strategy means that buyers interested in a private sale home who aren’t in a position to buy can be given the alternative of shared ownership. The collaboration between the two sales teams ensures customers can find out how the affordable option works and if it’s right for them. We’ve continued the collaborative ethos by using the same branding across tenures. This means the homes are promoted in a way that’s tenure blind, effectively removing biases towards or against a particular type. This way we can truly build a community without a hierarchy.

ORIGIN HOUSING AND HILL | HARROW ONE A partnership between Origin Housing and Hill, Harrow One has completely transformed a disused and derelict area in the heart of Harrow into a place that everyone can be proud of. Alongside 54 homes for shared ownership and 119 for outright sale, the project creates a public plaza with a retail unit, next to Harrow’s shopping area, as well as a brand new church hall. Delivering for first time buyers, this strategic partnership made it possible to deliver more affordable housing, more generous property sizes and a higher specification than initially planned. Despite challenges posed by the Covid-19 pandemic, homes were completed three months ahead of schedule, meaning eager first time buyers were able to move into their homes quickly. A sought-after scheme, outright sale homes that launched in 2020 are now 95% sold – ahead of targets. Shared ownership homes were 30% sold within weeks of launch, with priority given to Harrow residents.

buyer

82 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 82

READERS’ AWARDS

13/07/2021 17:35

BEST LAW FIRM FOR CONVEYANCING

Sponsored by

FINANCE

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

CAVENDISH LEGAL GROUP Cavendish Legal Group uses a onestop app that puts homebuyers in control of their conveyancing and enables them to track the progress of their case directly from a mobile device. First time buyers fill in an enquiry form and receive an itemised quote within two hours. A member of our specialist onboarding team contacts them the same day and if they wish to proceed they can download the app. Clients receive a welcome pack and we guide them through it explaining everything, such as which documents to provide. All documentation can be uploaded on the app, including ID verification, and we even accept electronic signatures. The app reduces the time it takes for a customer to navigate the paperwork down from an average of three weeks to just 15 minutes.

LAWCOMM SOLICITORS Helping first time buyers, Lawcomm Solicitors is a specialist conveyancing firm that, for over 20 years, has been working throughout the UK with first time buyers of shared ownership and new build homes. We are recommended by many housing associations, developers and mortgage brokers as they recognise that their clients will benefit from friendly, expert legal advice, delivered by solicitors who are experts in this sector. We offer shared ownership, resale, staircasing, re-mortgaging and transfer of equity services to buyers from our housing association partners, plus new build and Help to Buy: Equity Loan services to buyers from private developers. We are a customer-focused firm, which concentrates on delivering an exemplary service to all the parties involved in these complex transactions, specially first time buyers, who need most assistance with their first purchase. Consequently, we have developed an enviable reputation leading to a stream of recommendations from developers, housing associations and mortgage brokers. • Specialist Knowledge • Fixed Fees • No Move No Fee Policy • Friendly and Experienced Case Handlers • Easy to Complete Digital Documents • Law Society Conveyancing Quality Scheme Accredited.

DIRECTION LAW Direction Law is one of the most established and largest specialist affordable housing solicitors in the country. In 2020-21 alone, we completed over 3,000 shared ownership purchases. Prospective clients can obtain an instant quotation online or speak to our dedicated new business team who will guide them through the initial stages. While other firms may have conveyancers who deal with a variety of affordable housing cases, we have individual dedicated teams specialising in either new build shared ownership, resale sales and purchases, or new build/Help to Buy respectively; thus ensuring greater expertise. Our aim is to progress cases to exchange and completion as swiftly as possible, not only resulting in a satisfied client, but also ensuring our strong relationships with the many housing associations, developers and specialist financial advisers we are recommended by. Many clients come back time and time again, which is testament to the quality of service we provide.

PRINCE EVANS SOLICITORS LLP Prince Evans Solicitors LLP is a multi discipline law firm based in Ealing. Prince Evans Solicitors LLP New Build Homes and Conveyancing team specialises in all aspects of conveyancing for the first time buyer. We benefit from a particular expertise and understanding of shared ownership and new build property including the Help to Buy shared equity scheme. The majority of our clients are first time buyers, buying either through the shared ownership or Help to Buy scheme (or taking the crucial next step such as buying additional shares known as staircasing). We offer a personal service ensuring that buyers deal with one conveyancer from instruction through to completion. We also act for housing associations and developers in the sale of new build homes. We help hundreds of first time buyers to take their first steps to homeownership every year and in the past 12 months we have grown even further, assisting many more first time buyers.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 83

First Time Buyer August/September 2021

13/07/2021 17:35

Sponsored by

BEST SUPPLIER TO THE FTB MARKET AFFORDABLE HOMES

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

AUDIENCE2MEDIA The campaign targeted the first time buyer (FTB) market in a fun/relevant way, increasing Bellway Homes brand perception and providing the target audience with helpful content to assist their buying journey. Social media influencers were split into three categories to provide the upmost insight: Bellway current homeowners, finance/mortgage experts and prospective first time buyers. While this campaign was active, the cladding scandal became a hot topic in the news and across social media. We proactively managed this risk of potential negative backlash by implementing strict targeting rules, as well as ensuring content produced was culturally relevant and scheduled correctly, eliminating any negative sentiments spilling on to the campaign. Additionally, during lockdown with work from home policies, the target audience were provided with guidance on how to own their dream Bellway home and move out of their parents’/rental property, as well as benefit from the Stamp Duty tax holiday and financial support for FTBs.

RED LOFT Undoubtedly an unsung hero of the sector, property consultancy Red Loft has been quietly having a major impact on the lives of first time buyers since it was established in 2002. A highly trusted supplier, the company supports its clients (including housing associations, ALMOs, local authorities and private developers) to build better homes, and market them more effectively. Ultimately, Red Loft helps to raise the bar across the industry via a dual role: as a development consultancy and as a sales agent. As a development consultancy, the organisation works with some of London and the South East’s most important housing projects, helping developers to improve the standard of homes for first time buyers. As a sales agent, the team has this year supported more buyers than ever before. Testament to its winning formula, Red Loft starts this financial year with its largest sales pipeline to date.

METRO FINANCE Metro Finance – We just love shared ownership! Every month we help around 2,500 potential buyers. We establish what’s affordable and help achieve the right mortgage. Simultaneously, we help ensure regulatory requirements are met for our partner housing associations – nearly 100 across the UK. Supporting the sector, we developed affordability chatbots, staircasing chatbots and a series of portals for buyers and housing associations, all of which track and streamline the shared ownership journey. Constantly improving service levels, last year we introduced facial recognition ID checks and Open Banking software to our portals, focused on making it even easier for buyers and housing associations. Can we do more? Always… working with lenders, regulators, and stakeholders to give shared ownership the positioning it deserves.

SO RESI AGENCY SO Resi, the awardwinning shared ownership brand of Metropolitan Thames Valley Housing, has been at the forefront of helping first time buyers on to the property ladder since it was founded in 2017. Constantly innovating, the brand has just launched a new initiative, SO Resi Agency, which will make it far easier for buyers to find their dream home and will help to accelerate the delivery of more much-needed shared ownership properties on to the market. The aim of SO Resi Agency is to develop teamwork and collaboration with other housing providers, to help match would-be shared owners with properties around the country. SO Resi has noted an ever-increasing demand for shared ownership, with an average of 50,000-60,000 visitors to its website every month, so by allowing other providers to advertise their shared ownership properties on the same platform, SO Resi Agency will offer greater choice to first time buyers.

buyer

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 84

READERS’ AWARDS

13/07/2021 17:35

FTB 72-99 FTB-Awards August-September21.indd 85

13/07/2021 17:35

BEST SHOW HOME AFFORDABLE HOMES

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

CATALYST | THE SWITCH Capturing the spirit of an aspirational south west London lifestyle, Catalyst’s show home at The Switch shapes a vision for young and creative Londoners to picture themselves stepping on to the property ladder in a thriving location equidistant between Earlsfield and Wimbledon. The way in which we use our homes has changed over the course of the last year, making flexible spaces more important than ever. The one bedroom show home at The Switch highlights the ways first time buyers can turn a one bedroom home into a versatile, multi-use space tailored to their needs. Clever furniture placement, creative storage solutions and striking design features maximise the interior space, while on-trend accessories and simple touches buyers could replicate themselves create a design that has helped The Switch to become Catalyst’s fastest-selling site in London.

INVESTA FOR OPTIVO | LEVETT FIELDS Working with housing provider Optivo, we were asked to create a sophisticated three bedroom show home on a development of 30 homes in the popular village of Ringmer in Sussex. The development included 22 shared ownership properties and featured a mix of houses and apartments. We designed an aspirational home for first time buyers, couples and young families to appeal both to a local audience and those looking to move from urban built-up areas to a picturesque countryside setting. Much of our inspiration came from the local area, the Sussex Downs and the nearby city of Brighton. Our design was heavily influenced by the rural surroundings and we combined this with luxury touches to echo the atmosphere experienced at the popular Soho Farmhouse; creating a calm and comfortable family home that was also affordable and attainable for first time buyers. optivosales.co.uk/developments/levett-fields

MOAT HOMES | CULVERLEY GARDENS Next is one of the most well-loved high street brands known for its quality yet affordable prices – perfect for first time buyers. We teamed up with the interior designers at Next to style our spacious show home at Culverley Gardens situated in the heart of Catford. The development is a collection of one, two and three bedroom apartments available for shared ownership from a 25% share. The exciting show apartment was popular with visitors who then used what they had seen as inspiration on how to decorate their own home. From the use of bold coloured featured walls and quirky wallpapers to the clever combination of accessories and textures – the techniques employed brought to life how a stylish home brimming with personality can be created on a budget. Any of the pieces from the show home that customers fell in love with could be purchased directly from the Next website.

buyer

86 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 86

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

buyer

NOTTING HILL GENESIS | THE KILN WORKS

READERS’ AWARDS

Enjoying a prime east London position, halfway between the City and Canary Wharf, is Notting Hill Genesis’ The Kiln Works, where buyers can view a stylish one bedroom show apartment, and gain a tangible idea of what they can expect from a home at this versatile multi-tenure scheme in the heart of Limehouse E1. Designed to blend style with functionality, and with a clear industrial-style influence, the shared ownership show apartment demonstrates Notting Hill Genesis’ discerning attention to detail, with generous internal layouts, a polished specification, and a welcome expanse of private outdoor space. Cleverly dressed by Abode Interiors, this apartment reflects the creativity of the surrounding area, while using a range of materials that would fit well within a first time buyer budget. With a number of green hubs, niche independent retailers and galleries at the adjacent Commercial Road, and popular haunts of Shoreditch, Hoxton, and Brick Lane just a short hop from home, it is easy to see why this scheme appeals to creative professionals who are in search of high-quality, accessible, affordable homes in this exciting area.

ONE HOUSING | MONTMORENCY PARK We know that buying your first home is a rollercoaster of emotions. It’s both exciting and daunting in the same breath, and one of the biggest life decisions people make. At Montmorency Park we wanted to create a show home that felt warm, welcoming and aspirational, while ensuring that it was representative of a first time buyer’s budget for decorating and furnishing a new home. All of the furniture, soft furnishing, paint and accessories were sought through high street retailers or accessible on the open market, meaning customers could recreate the look and feel of the show home with no hidden costs. Our two bedroom show apartment was designed and crafted, echoing the Montmorency Park brand, using soft, earthy colours and abstract, mosaic patterns, enhancing the brand’s storytelling while creating a space that was inspirational, innovative and unique.

OPTIVO | 415 WICK LANE When Optivo was dressing the two bedroom show home at 415 Wick Lane, Hackney, in late 2020, the interior design brief requested consideration of the new factors affecting buyers, in particular more time spent at home. We wanted to create somewhere you’d do your workout in the morning. Where you’d curate your career. Where you’d lounge and laze. The total price for the fully dressed two bedroom show home came to under £20,000, including fitting costs, decorations, the works. This made the 415 Wick Lane show home something first time buyers could replicate themselves, or complement using their own personal pieces. Featuring affordable pieces that included materials such as marble, velvet, brass and oak, it was effectively striking the balance between aspiration and affordability. Paired with a unique, modern specification to the finished apartment, the fully dressed show home was perfectly appealing to a discerning Hackney Wick first time buyer.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 87

First Time Buyer August/September 2021

13/07/2021 17:35

BEST FIRST TIME BUYER FAMILY HOME AFFORDABLE HOMES

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

COUNTRYSIDE | THE SPIRIT AT BASE Base at Newhall is establishing a distinctive, family friendly neighbourhood on the outskirts of Harlow, Essex, introducing around 700 homes, extensive new green spaces, amenities and public realm. One house type proving popular with families is The Spirit, a three bedroom, twostorey house spanning 844 sq ft. Designed to be as practical and liveable as it is stylish, it provides abundant space for all the family with a contemporary open-plan kitchen and dining room, separate living room and three generous bedrooms. Providing much-desired outside space, The Spirit boasts a private rear garden, and as part of the wider neighbourhood design, will be within 60m of public greenery or landscaping. Ranging from £403,000 to £410,000, and with Help to Buy available, The Spirit sits at the heart of this exciting new urban village and presents the perfect place for families looking for more for their money, yet without compromising on style, quality or convenience.

HAYFIELD | THE HATTON AT HAYFIELD PLACE The three bedroom Hatton home is one of Hayfield’s most popular house designs, having recently been delivered at developments in Warwickshire and Bedfordshire. It is priced from £300,000. Featuring 1,185 sq ft of space, the Hatton hits the mark with first time buyers due to its three double bedrooms, beautiful kitchen and integral garage. Those making their first step on to the property ladder can visualise starting a family without needing to move. The kitchen/diner incorporates well thought-out features such as ceiling-high cupboards for a sleek look and additional storage. There is a sitting room across the rear of the property, with double doors leading on to the private garden. Heritage bronze ironmongery and Farrow & Ball paint accompany you as you make your way up the first floor, where the three large bedrooms are found, along with a family bathroom and en suite to the principal bedroom that both feature contemporary ROCA suites.

GENERATOR GROUP | LAUREATE FIELDS With half of all purchases made by first time buyers, The Tate at Laureate Fields is a three bedroom family house with a generously sized rear garden, private driveway and carport. This contemporary home features a luxurious master bedroom with a his-and-hers dressing area and en suite; an open-plan downstairs space stylishly finished with engineered oak flooring; and German-engineered designer kitchens with a full range of integrated Bosch appliances, Silestone composite stone worktops and a wine cooler. The house also benefits from bi-fold doors opening on to the garden from the unique vaulted dining area; oak-veneered doors with chrome handles; and brushed steel sockets and light switches throughout. The development is situated next to an Area of Outstanding Natural Beauty that stretches north from the sea along the banks of the River Deben. Prices start from £399,500 and Help to Buy is available.

MILLWOOD DESIGNER HOMES THE ROLVENDEN, BAKERS FIELD Bakers Field is a coastal collection of 31 highquality two to five bedroom houses in Cliffsend, Kent, offering first time buyers an affordable route into homeownership with the Help to Buy scheme. Nestled close to the idyllic inlet of Pegwell Bay and surrounded by a number of outstanding education options, transport links and leisure facilities, the three bedroom link-detached show home, The Rolvenden, carefully combines a charming, characterful design with adaptable interiors, to create an exceptional family home that does not compromise on style or quality. With an attractive barnstyle exterior design, alongside a stylish yet functional living space, the property delivers an exceptional first time buyer property completed to a superior standard. The home epitomises value for money for a high-quality property in a desirable coastal location, priced at £410,500, and with Help to Buy available to further assist first time buyer families purchase a luxury home with just a 5% deposit.

buyer

88 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 88

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

FINANCE

buyer

ONWARD LIVING | THE ASPEN, SYCAMORE GARDENS

READERS’ AWARDS

Sycamore Gardens in Great Sutton, Cheshire, is the perfect location for families looking to lay down roots, boasting highly rated schools on your doorstep, excellent transport links, easy access to some of Cheshire’s top family attractions, and even its very own natural play area. Built to meet the needs of modern-day family living, the detached Aspen home at Sycamore Gardens features four generously sized bedrooms, contemporary bathrooms, a well-proportioned, flexible living space, a good-sized garden, and off-street parking for multiple cars. This part of west Cheshire is considered to be one of the least affordable areas in the North West. However, The Aspen, which is priced at £106,000 for 40% shared ownership, with a full market value of £265,000, offers local families the opportunity to buy a quality new build home which may have otherwise been outside of reach.

SOUTHERN HOME OWNERSHIP | ROSE GARDEN Rose Garden by Southern Home Ownership is a collection of 62 homes, just outside the leafy village of Cranleigh, Surrey. Offering 22 three and four bedroom houses, the development is ideal for families looking to put down roots in a Surrey town. With shared ownership homes rarely available in more rural areas, Rose Garden offers a pocket of affordability in one of England’s most expensive counties – with starting prices for a three bedroom house at almost a quarter of the price of an average detached house in the area. Perfect for families, there are two new play areas on site, and once complete, the development will also offer a new pond and a network of footpaths, making travel across the development safer for children. Designed with family living in mind, homes offer spacious open-plan layouts throughout and ample built-in storage, plus a private turfed garden, garaging and a driveway for multiple cars.

URBAN SPLASH X PLACES FOR PEOPLE | PORT LOOP The regeneration of Port Loop in Birmingham is well underway – creating an exciting new island community ideal for first time buyers with families. For years, this unused urban island – encircled by the Birmingham Canal Old Line and the Birmingham Canal Navigations Main Line – had remained vacant. Joint developers Places for People and Urban Splash, working in partnership with landowners Canal and River Trust and Birmingham City Council, are transforming the space, creating a new, 43-acre waterside neighbourhood filled with more than 1,150 new homes, commercial workspaces, parks, green spaces and community facilities. Sixty homes have already been delivered, with full completion of this new neighbourhood by 2030. Homes at Port Loop have been designed with first time buyers of family homes in mind. Located just 15 minutes’ walk from Birmingham City Centre, Port Loop has a strong sense of freedom and play with its traffic-free green streets, communal gardens, public parks and playgrounds.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 89

First Time Buyer August/September 2021

13/07/2021 17:35

BEST OFF-PLAN DEVELOPMENT AFFORDABLE HOMES

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

BARRATT HOMES | LINMERE Barratt Homes at Linmere is an exciting new development in Houghton Regis, Bedfordshire, that will initially deliver 307 new one to four bedroom homes. The development forms part of the wider mixed-use Linmere consortium scheme, which will see 5,150 new homes delivered alongside an extensive range of community facilities, including retail units, schools and open spaces. Barratt launched off-plan in November 2020, with homes already proving popular among first time buyers thanks to the availability of Help to Buy on larger three and four bedroom homes, with prices currently starting from £375,000. A range of one and two bedroom apartments will launch this summer, appealing to young professionals looking to get a foot on to the ladder. To support buyers in their off-plan purchase, Barratt has invested in a range of technology to allow its customers to experience the full potential of Linmere, including street VRs and detailed virtual tours of individual house types.

BE WEST | THE APEX Offering local first time buyers an opportunity to step on to the property market in west London, The Apex is a brand new development by Be West in the heart of Hammersmith and Fulham. A limited collection of 12 two bedroom homes available to buy through shared ownership, the Apex has been architecturally designed with flair and inspiration in a 60s modernist style, in keeping with surrounding Clem Atlee Court. With homes due to complete autumn 2021, Be West has partnered with the Borough of Hammersmith and Fulham to determine those most in need of an affordable route on to the local area’s property ladder. All homes will be sold offplan to local people, living and working in the borough, and the council will select and approve applicants before they are able to purchase. This will ensure that the Apex genuinely meets housing need in the area.

CLARION HOUSING | MERRIELANDS Due for completion in autumn 2021, Merrielands is a first time buyer focused collection of 161 homes featuring studio, one, two and three bedroom apartments available through shared ownership. Situated in the heart of Dagenham, a vibrant and diverse pocket of east London, this superb development is at the centre of an extensive regeneration zone to transform the area and enjoys great transport links into the city. An impressive balance of affordable London living within easy reach of the capital, first time buyers can get on the property ladder with a £2,500 deposit for a 25% share of a studio apartment with a full market value of £200,000. Designed around landscaped communal open spaces, including a podium garden and roof terrace, Merrielands includes over 1,500 sq m of commercial space. Each apartment provides spacious contemporary accommodation that’s as versatile as it is attractive. Designed for today’s lifestyle requirements, every home has a balcony or terrace.

buyer

90 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 90

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

buyer

COUNTRYSIDE | ELEMENTS

READERS’ AWARDS

Elements, a new development in Enfield delivered by Countryside Properties, is an outstanding offering for the first time buyer market. The combination of excellent transportation links, proposed amenities, specification and affordability have proven to be a winning combination that ticks all the right boxes. When complete in 2028, the site will have 993 new homes, new community facilities as well as a residents’ gym and medical centre. Each of the apartments on offer is an excellent choice for the first time buyer demographic thanks to the smart and flexible layout, quality of finishes and sophisticated design; perfect for relaxing and entertaining. With a number of apartment types appealing to the first time buyer market and available with London Help To Buy, Elements is an incredible opportunity to make the first move and secure a home that not only provides an ideal living space, but also a thriving lifestyle and community. Prices for a one bedroom apartment at the scheme start from £340,000.

EAST WICK & SWEETWATER | EW+S East Wick + Sweetwater (EW+S) is a new, residential-led mixed use community in iconic Queen Elizabeth Olympic Park. Delivered in joint venture by Places for People and Balfour Beatty Investments, on behalf of London Legacy Development Corporation, EW+S has been designed by a team of leading architects including Sheppard Robson, Studio Egret West, A-Studio and Piercy & Company, alongside landscape architects Fabrik London. EW+S seeks to create a new community that seamlessly connects Queen Elizabeth Olympic Park with Hackney Wick & Fish Island, eventually bringing more than 1,800 homes, new green spaces and play areas alongside nurseries and an eclectic range of commercial opportunities for local businesses to thrive. It provides a wide range of homes available through a mix of tenures including social and affordable rent, shared ownership, market sale and private rent. Phase one includes over 300 homes (more than 40% of which are affordable) alongside commercial spaces, new open spaces and a play area. Clarnico Club is the beating heart of the new neighbourhood, acting as a multi-purpose social hub with a cafe, flexible event space as well as a marketing hub.

STRAWBERRY STAR | HARLOW QUARTER Harlow Quarter (HQ) is a residential-led mixed-use development with existing planning consent to create 447 residential apartments and over 43,000 sq ft of commercial space in Harlow, situated in the upper Stort Valley at the border between Hertfordshire and London. HQ will consist of studios, one and two bedroom homes across 3-16 storey residential towers, ideal for first time buyers. Residents will enjoy concierge services, cycle storage, and two communal roof gardens. The mixed-use development is located in Harlow town centre, as part of the Harvey Centre, a collection of retail shops, entertainment and other services. It includes 26 studios, 193 one bedroom, 209 two bedroom and 19 three bedroom apartments. HQ gives first time buyers the best of both worlds. With central London only 30 minutes away and the Harlow Enterprise Zone close by, this is a hub for city-minded people. On the other hand there are copious fields and green spaces.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 91

First Time Buyer August/September 2021

13/07/2021 17:35

BEST NEW DEVELOPMENT IN THE SOUTH AFFORDABLE HOMES

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

BDW – BARRATT AND DAVID WILSON HOMES | CANALSIDE @ WICHELSTOWE Creating a brand new vibrant community for Swindon, the Wichelstowe development is one of the largest local authority joint venture agreements in the country and is being delivered by Barratt Developments and Swindon Borough Council. Overlooking the newly restored Wilts and Berks canal to the south of Swindon, Canalside is the first phase of the development offering a range of one and two bedroom apartments and two, three and four bedroom houses from Barratt Homes and David Wilson Homes. So far, 37 first time buyers have bought homes, representing 62% of homes sold to date. Help to Buy has played an important role, with 86% of first time buyers using the scheme. A number of buyers have also benefited from Barratt Developments’ discount for NHS workers.

INLAND HOMES | CHAPEL RIVERSIDE Designated as one of seven VIP sites by Southampton City Council and forming part of the regenerative Itchen Riverside project, Chapel Riverside is an exciting nine-acre scheme which will ultimately include a vibrant mix of 520 new one, two and three bedroom apartments, public amenity space, retail space and commercial buildings specifically reserved for marine-based businesses. The completed first three phases of Chapel Riverside herald the transformation of a derelict, underutilised city centre site on the west bank of the River Itchen, into a thriving “destination” district complete with vastly improved flood defences. Sales have remained buoyant through 2020-21, despite the pandemic, with 63 sales between March 2020 and March 2021. In total, 68% of these sales were to first time buyers, keen to take advantage of the high specification, enviable location and exceptional customer service.

L&Q | L&Q AT KIDBROOKE VILLAGE With a strong focus on community, a careful balance of green open space and essential amenities and exceptional quality homes, L&Q at Kidbrooke Village is one of the South’s most impressive new developments. Available through shared ownership, L&Q’s collection of 379 one, two and three bedroom apartments offer first time buyers the chance to be part of the overall Kidbrooke Village development; a major regeneration by Berkeley Homes in the Royal Borough of Greenwich. Homes are built to a high standard, with contemporary fittings and fixtures and plenty of natural light thanks to the floor-to-ceiling windows. Set in 136 acres of open space, Kidbrooke Village has two parks and a nature reserve, while nearby Pegler Square offers an array of village amenities. On-site Kidbrooke Station offers services into London Bridge in 16 minutes.

buyer

92 First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 92

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

buyer

MILLWOOD DESIGNER HOMES | BAKERS FIELD

READERS’ AWARDS

Bakers Field is a coastal collection of 31 beautiful two to five bedroom houses in Cliffsend, Kent. Nestled in the idyllic inlet of Pegwell Bay in a highly desirable and well-connected location along the Kent coastline, the smaller properties offered first time buyers an affordable route into homeownership through the Help to Buy scheme. Each property has been designed to seamlessly blend in with the local Kent architecture, with stylish yet adaptable interiors to accommodate the changing everyday needs of first time buyers. The local community has also been considered in the wider development, providing new facilities such as a bus stop, new cycle links and road crossing points to ensure long-lasting community benefits, and a welcoming environment for first time buyer residents. Bakers Field presents an exceptional collection of new homes in an unrivalled location; a perfect, affordable choice for first time buyers looking for their first home in the south.

NOTTING HILL GENESIS | ROYAL ALBERT WHARF Occupying a dynamic east London Docklands location in the south of England, Royal Albert Wharf by Notting Hill Genesis offers a truly unique residential setting that is forging a thriving new destination and neighbourhood with community at its core. Forming an integral part of the regeneration of London’s Royal Docks, the development spans across multiple phases, delivering a diverse selection of homes that reflect the historical dockside vernacular. The current phase includes one, two and three bedroom apartments and duplexes available to purchase for private sale with London Help to Buy and shared ownership – perfectly catering for first time buyers in London who want affordability balanced with space, style, quality and convenience in contemporary surroundings. Following the successful first phase, the well-received second phase of the scheme brings a further 468 new homes and 2,200 sq m of commercial and retail space. New public spaces and riverside walkways are intertwined with stunning green landscaped areas, seamlessly integrating into what is rapidly becoming an established and vibrant new quarter in the capital.

PEABODY | SOUTHMERE With a 30-year vision, Peabody’s regeneration plans for Thamesmead are undoubtedly its most ambitious and notable to date. Southmere sits within the heart of Thamesmead; a new, much-needed, mixed-use development of 534 homes benefiting from a lakeside setting. A total of 45% of the homes are affordable, suiting the housing needs of a community in demand of financially viable options to homeownership. As well as creating new homes for existing and new residents, Peabody is taking a “whole place” approach to invigorate life at South Thamesmead with a unique cultural and commercial offer, new shops and amenities – providing jobs, a new public square, a library and flexible community facilities, and outdoor activity spaces. The time for Thamesmead to realise its full potential and become London’s New Town has begun.

buyer

READERS’ AWARDS

FTB 72-99 FTB-Awards August-September21.indd 93

First Time Buyer August/September 2021

13/07/2021 17:35

Sponsored by

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

GECKO HOMES | CENTRAL VIEW Central View is an eclectic development of 13 homes, varying in size, bedrooms and house types. Built in Partington, in the popular borough of Trafford, Greater Manchester, house types include classic three bedroom semi-detached houses, traditional two-up-two-down terraced houses and three bedroom, three-storey houses with master bedrooms boasting en suites. All homes come with large family friendly gardens and are designed for open-plan family living with modern conveniences like an essential downstairs WC and open-plan kitchen/dining/living spaces. The contemporary finish to the homes includes full-height windows, sleek grey roofing and carefully crafted brickwork to the facades. All homes in the development are available to buy through shared ownership, providing excellent affordability and offering great flexibility to new homeowners looking to get on to the property market and buy a home who would not be able to do so otherwise.

ONWARD LIVING | ELIZABETHAN TERRACE Elizabethan Terrace is a modern development of 15 affordable homes in Whitefield, Greater Manchester, exclusively available for shared ownership. Built on the site of the former disused Elizabethan pub, which local residents branded an “eyesore”, the development has provided much-needed new build homes and helped to regenerate the area, which was largely made up of former council homes that were originally built in the 1950s. The mixture of two and three bedroom properties, priced from £54,775 for a 35% share, have also given first time buyers in the area the opportunity to buy a home in the highly desirable area of north Manchester, where other parts of Whitefield and neighbouring Prestwich command high property values which would otherwise be out of reach for many purchasers.

PLUMLIFE | BELFIELD MILL, ROCHDALE A brand new development located in Rochdale, Belfield Mill, is the first development from Plumlife consisting exclusively of shared ownership homes, demonstrating the strength of the product in the current marketplace. Local knowledge of the scheme is building and Plumlife is experiencing excellent demand for the 28 three and four bedroom detached and semi-detached homes on offer. Homeowners will benefit from transport links to Manchester city centre, as well as proximity to local rural beauty spots such as nearby Hollingworth Lake. The desirable location, combined with modern design features and quality specification, has resulted in high levels of demand, with reservations being taken off-plan ahead of handovers in the summer. The generous garden sizes and well thought-out interiors ensure that these homes meet the needs of our customers who, more than ever before, require spacious and flexible living as well as a peaceful retreat to escape to at the end of the day.

buyer

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 94

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

JUDGES UNSUNG STAR

FINANCE

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

JADE SKATES | RED LOFT Supporting the success of leading property consultancy Red Loft, Sales and Marketing Manager Jade Skates works tirelessly marketing and advising on sales strategy for a huge range of developments for a breadth of developers and housing associations across London. Exemplifying Red Loft’s values and high standards, Jade is passionate about the sector, and has helped hundreds of buyers find their dream home. Currently, Jade is spearheading one of Red Loft’s most important new partnerships; launching the first development for Sixty Bricks, the London Borough of Waltham Forest’s wholly-owned housing development company, where she has already secured double the target number of reservations. Feedback from Jade’s clients and colleagues is consistently excellent – praising Jade’s unwavering diligence and determination. Outside of her role, Jade is personally dedicated to the affordable housing industry, and has spoken on several prestigious “Ask the Expert” panels at the London Home Show.

JAMIE FRASER | CATALYST A passionate and driven Sales Executive, Jamie Fraser joined Catalyst in July 2019 and has quickly become a rising star in the team. Jamie goes above and beyond to build a sincere and genuine rapport with buyers, supporting them throughout the buying process, and empowering them with the knowledge and confidence needed to make such an important purchase. His contribution was particularly noteworthy in the first lockdown, when Jamie was contactable by customers 24/7, to reassure them during this unsettling period, and helping them move in safely. Jamie has helped countless first time buyers secure their dream home. He co-presented the virtual preview event for The Switch, Catalyst’s new Wimbledon development, which was attended by over 250 keen buyers, and has helped to secure 35 sales within three months of launch. His friendly nature has contributed immensely in building a collaborative relationship with Galliard, Catalyst’s joint venture partner at The Switch, working alongside one another in the marketing suite.

JADE TURNSTILL | SHARE TO BUY Already renowned as a young star in the affordable housing industry, at just 29 years old Jade Turnstill is forging the way for first time buyers through her work for the UK’s premier online destination for shared ownership properties, Share to Buy. Jade is always looking for new and innovative ways to support hopeful buyers, singlehandedly producing and starring in a series of informative “jargon busting” videos, which have been viewed over 2,500,000 times since their inception. In the height of lockdown, Jade also became the face of Share to Buy’s new regular webinar series, and is now working relentlessly to deliver the first ever Virtual London Home Show. Share to Buy has experienced consecutive years of growth since Jade joined the team, and her input and expertise helped Share to Buy achieve a record year across all its metrics in 2020.

JULIE SHAIL | SO RESI Julie Shail’s irrepressible enthusiasm for shared ownership is catching – whether it’s a picture of a new development on Instagram, an inspirational post on Facebook or chatting to homebuyers at a show – Julie always has a positive, optimistic message for first time buyers keen to get on the housing ladder. For 28 years, Julie has worked for Metropolitan Thames Valley Housing (and its pre-merger predecessor Metropolitan), in a career that has taken her from Marketing Assistant through to her current leading role as Head of Sales. Managing both market sale and shared ownership through MTVH’s SO Resi brand, she is at the forefront of developing and promoting shared ownership initiatives, such as the new SO Resi Agency, as well as being a powerful ambassador for the brand, reaching out to first time buyers through shows, events, webinars and social media.

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 95

13/07/2021 17:35

Sponsored by

PRIVATE DEVELOPER OF THE YEAR AFFORDABLE HOMES

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

BARRATT DEVELOPMENTS PLC Barratt Developments is Britain’s largest and best-known housebuilder, and the only major national housebuilder to achieve the maximum 5 Star rating in the HBF New Homes Customer Satisfaction Survey for a record 12 years in a row. Through the challenges of the coronavirus pandemic, Barratt has continued to deliver the high standard of service its buyers have come to expect, while maintaining its focus on health and safety, quality and sustainability. With the help of schemes such as the Armed Forces Contribution scheme and NHS Deposit Contribution scheme, it has made it possible for thousands of first time buyers to afford to buy five-star quality properties, at a time when staying in your home has been the focal point of so much of our lives.

INLAND HOMES Inland Homes is a leading developer in the South and South East of England, building affordably priced properties of exceptional quality which people are proud to call home. Each development is designed to suit modern lifestyles – individually tailored to the location, with carefully considered open spaces, landscaping, play areas and other amenities vital in creating a community that works. With Help to Buy available on a wide range of apartments and houses, Inland has helped first time buyers take their first step on to the ladder. Particularly successful developments with the first time buyer market include Centre Square in High Wycombe, and both Chapel Riverside and Meridian Waterside in Southampton. We take pride in ensuring the smoothness of the customer journey, from initial contact with our knowledgeable sales staff, all through the buying process to final completion. Feedback is used to improve the design of homes, with layouts continually reviewed to suit customers’ needs. As a result, many Inland purchasers have recommended developments to others and bought more than one property from the company.

MILLWOOD DESIGNER HOMES With stunning developments across Kent, Sussex and Surrey, Millwood Designer Homes offers a broad collection of individually designed homes that are ideal for a variety of homebuyers, including first time buyers. At Bakers Field in Cliffsend, a stunning coastal collection of 31 two to five bedroom homes nestled just five minutes from the Kent coastline at Pegwell Bay, the smaller properties offered first time buyers an affordable route into homeownership through the Help to Buy scheme (2013-2021), with prices starting from as little as £265,000. Similarly, at The Maltings, Millwood has provided a unique hamlet-style development of 45 one to six bedroom houses, located in a countryside setting in Biddenden, Kent. Perfect for those looking for a change of lifestyle, these attractive new homes have proven popular with first time buyers looking to reap the rewards of a hassle-free new build, especially through the Help to Buy scheme (2013-2021 and 2021-2023).

buyer

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 96

READERS’ AWARDS

13/07/2021 17:35

Sponsored by

AFFORDABLE HOUSING PROVIDER OF THE YEAR THIS AWARD WILL GO TO AN ORGANISATION THAT HAS SHOWN INNOVATION IN THE WAY IT DESIGNS, BUILDS AND MARKETS ITS PROPERTIES AS WELL AS OFFERING A VARIETY OF SERVICES WHICH CAN HELP FIRST TIME BUYERS ON TO THE PROPERTY LADDER.

ABRI Abri is one of the largest housing providers in southern England. It owns and manages 35,000 homes and works on behalf of 80,000 customers in areas including Bristol, Southampton, Windsor and Yeovil. As a large-scale organisation it is committed to tackling the housing crisis, with plans to build at least 1,000 new homes a year until 2030, many of which will be affordable. With a history spanning almost 100 years, Abri has an eye on the future, collaborating with some of the UK’s leading thinktanks, policymakers, and researchers to find better, greener ways of working. Abri works closely with key stakeholders including local authorities, the Government, NHS and community groups, to listen to and respond in a way that best suits them. It strives to tackle homelessness, create equality of opportunity, improve health and wellbeing, enhance life chances, and make a positive impact on the world around us.

METROPOLITAN THAMES VALLEY HOUSING Metropolitan Thames Valley Housing (MTVH) formed in 2018 when Metropolitan and Thames Valley Housing joined forces. It owns or manages 57,000 homes across London, the South East, East Midlands and East of England and is a member of the National Housing Federation and the g15, which represents London’s largest housing associations. MTVH creates homes for shared ownership via its SO Resi brand, as well as offering affordable rent and open market sales. Constantly innovating, the group has conducted research into shared ownership with Cambridge University to help shape its offering, presents crystal-clear marketing materials to demystify the tenure and creates a wide range of new homes from apartments in repurposed buildings to new family houses. It forms strategic, dynamic partnerships to promote shared ownership, with a new SO Resi Agency to help buyers find a home and support the market and links with housebuilders bringing homes into use more quickly.

BROADWAY LIVING In Ealing, where first time buyers struggle to get on the property ladder, Broadway Living is driving real transformation by boosting the supply of homes at accessible prices, which is helping to fund more homes for social rent. At its flagship development Copley W7 – the inspired revitalisation of a run-down estate in Hanwell – 114 of the 280 new homes being delivered will be available through Help to Buy or shared ownership. They are to the same high standards of design and build as delivered by the UK’s leading housebuilders. The remaining 166 homes are for social and intermediate rent, with all residents enjoying a thriving modern neighbourhood with new public areas and amenities. The success of Copley W7 has been such that Ealing council is investing £390m in Broadway Living to build 1,500 homes over the next six years, opening up home ownership to many more first time buyers.

ORIGIN HOUSING A medium-sized organisation having a big impact on the communities in which it works, Origin Housing has continued to support first time buyers on to the ladder throughout the pandemic – offering the best in customer service and highest quality homes. Origin Housing is committed to helping fix the housing crisis, through providing expert advice, skills and knowledge to help more customers step on to the property ladder. In 2020/21, Origin Housing hit a new landmark, as it now owns and manages over 7,000 homes, while in the next five years, the organisation will build another 500 homes. Going above and beyond for its residents during the Covid-19 pandemic, in 2020, Origin Housing delivered organic food parcels directly to residents in need, and identified and called nearly 1,400 older and vulnerable residents to make sure they had access to the support they needed.

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 97

13/07/2021 17:35

AFFORDABLE HOMES

buyer

HOW TO VOTE

READERS’ AWARDS

VOTE NOW FOR YOUR FAVOURITE IN EACH CATEGORY AT FTBAWARDS.COM AND YOU COULD WIN £250 OF IKEA VOUCHERS! Voting closes at midnight on 6 August 2021. FTB Award winners will be announced during the Awards Lunch at the London Marriott Hotel, Grosvenor Square on 3 September 2021. A full list of winners will be published in the October/November issue of First Time Buyer.

TERMS & CONDITIONS • • • •

•

Your details will automatically be entered in a free draw to win £250 of IKEA vouchers Voting closes on 6 August 2021 The winner of the vouchers will be notified by email Voting is open to First Time Buyer readers, aged 18 and over, with the exception of employees of shortlisted nominees, their immediate families, agents, or anyone else associated with the administration or production of these awards Random authenticity checks will be made

SPECIAL THANKS TO ALL OF OUR SPONSORS

PRE DRINKS SPONSOR

DESIGNATED CHARITY

First Time Buyer August/September 2021

FTB 72-99 FTB-Awards August-September21.indd 98

13/07/2021 17:35

FTB 72-99 FTB-Awards August-September21.indd 99

13/07/2021 17:35

FTB 100-101 Competition August-September21.indd 100

13/07/2021 16:34

COMPETITION

IMPRESSION

WIN !

A C ST U D E NOLLECTN N I NG B Y T ION A O WO B L E W F RT H A R E

£ 21 6

HOW TO E NT E R: Answer the following question:

In which English County is Denby pottery handcrafted?

O N E COLLEC TIO N, E N D LES S P OS S I B I LIT I ES…

Send your answer, with your full name, address and telephone number to: lynda@firsttimebuyermag.co.uk Closing date: 6th September 2021

THE PRIZE…

3 PRIZES OF A DINNER SET FOR FOUR WORTH £216 COMPRISING: 4 DINNER PLATES 4 SMALL PLATES 4 STRAIGHT BOWLS 4 PASTA BOWLS PLUS 4 MUGS

The serene and versatile colour palette of Denby Impression dinnerware fits perfectly into modern interiors. You'll find contemporary shapes, including straight-sided bowls, coupe plates and soju cups, allowing for a practical and stylish table setting whatever the occasion.

Winners can select their choice from: Pink, Blue, Cream or Charcoal T&Cs The prize is non-transferable and no cash alternatives will be given. Competition is open to UK residents only.

First Time Buyer August/September 2021 101

FTB 100-101 Competition August-September21.indd 101

13/07/2021 16:34

FIRST MEAL

FIRST HOME, FIRST MEAL This colourful savoury tart from Lakeland is delicious warm or cold so it’s perfect for picnics and summer al fresco eating

SWEET POTATO, PEPPER, SPINACH & MOZZARELLA TART

INGREDIENTS (serves 6-8) For the pastry: 9 300g plain flour 9 ¼ tsp salt 9 75g chilled butter, cut

into pieces 9 75g white vegetable

fat, cut into pieces For the filling: 9 300g sweet potato, peeled and cut into chunks 9 2 tbsp olive oil 9 1 red pepper, deseeded and chopped 9 200g fresh spinach, washed 9 210g pack mozzarella cheese, drained and sliced 9 2 large eggs, beaten 9 150ml pot creme fraiche or single cream 9 Salt and freshly ground black pepper 9 Basil leaves, to garnish

METHOD 1 Preheat the oven to 200°C/Gas 6. 2 Sift the flour and salt into a large bowl. Rub in the butter and white vegetable fat with your fingertips until the mixture looks like fine breadcrumbs. Stir in just enough chilled water to make a soft but not sticky dough. Knead for a few moments, then wrap and chill for 10-20 minutes. 3 Put the sweet potato chunks into a roasting dish, add the olive oil and roast in the oven for 10 minutes. Add the red pepper and roast for 10 more minutes. Remove from the oven and cool. 4 Roll out the pastry on a lightly floured surface and use it to line the loose-based rectangular flan tin. Line with greaseproof paper and baking beans or crumpled foil and bake "blind" for 15 minutes. 5 Take the flan out of the oven and remove the paper and baking beans or foil. Reduce the oven temperature to 180°C/ Gas 4. 6 Put the spinach into a large colander and pour a kettleful of boiling water over it to wilt the leaves. Run cold water over it, then squeeze the spinach with your hands to remove the excess water. 7 Arrange the peppers and sweet potatoes in the pastry case with the spinach and slices of mozzarella cheese. Beat together the eggs and creme fraiche or single cream. Season. Pour into the flan case, then bake for 35-40 minutes, until set. Serve warm or cold, garnished with basil. Tip: Try not to handle the pastry too much – it should be kept as cool as possible to give a light, crisp finish.

Sweet potatoes are a rich source of fibre as well as containing an array of vitamins and minerals. They contain iron, calcium and selenium, and they're a good source of most of our B and C vitamins. Spinach is loaded with lots of nutrients and is low in calories. Dark, leafy greens like spinach are important for skin, hair, and bone health. They also provide protein, iron, vitamins and minerals. Mozzarella is a traditionally southern Italian cheese made from Italian buffalo’s milk. It’s a soft cheese that's lower in sodium and calories than most other cheeses. It also contains probiotics that may boost the immune system.

102 First Time Buyer August/September 2021

FTB 102-103 Fast-Food August-September21.indd 102

13/07/2021 16:36

FIRST MEAL

FTB’S FAST FOOD When the rain eventually goes away, it’s time for barbecues to come out to play. A modern day barbecue isn’t as simple as just a few sausages and burgers, however. An abundance of meats, flavours and sauces have made it more of a challenge to find the right food to wow your guests. FTB has done the hard work for you and tried and tested the best barbecue food the UK’s top supermarkets have to offer GET YOUR GRILL ON

TEST WINNER

WAITROSE

SAINSBURY’S

TESCO

CO-OP

4 caramelised onion & ale beef burgers, £4; 4 spiced beef & lamb kofta kebabs, £4; sweet chilli chicken breast kebabs, £4; chicken shawarma king kebab, £8; 4 pork, chorizo & Manchego whorls, £4

Taste the Difference New York deli hotdog x4, £3; Summer Edition 4 raw chilli & garlic prawn skewers, £4; Summer Edition Harissa salmon sizzlers, £4.15; 2 Taste the Difference British beef steak burgers with chorizo, £2.50; Summer Edition 4 Pigs in beach towels, £4.50

Fire Pit 4 Indian spiced chicken thigh kebabs, £3; Fire Pit BBQ cauliflower wing bites, £2.25; Fire Pit grilling cheese & vegetable kebabs, £2.75; Fire Pit mango, coconut & lime chicken mini fillets, £3; Wicked Kitchen 4 garlic & herb kebabs, £3.50

GRO Cajun-style butternut ribs, £2.50; Irresistible Limited Edition Hereford beef rib & brisket burgers, £3.25; 6 minted lamb kebabs, £4; Nacho cheese hot dogs, £3; Irresistible prawn & salmon burgers with coconut & chilli, £4

The quality of Waitrose barbecue food

Tesco’s barbecue range is good value for

Co-op’s range of barbecue food is

a wonderful taste and texture. The

Sainsbury’s offers a great variety of

money. The Indian spiced kebabs are full

pleasant enough, but perhaps lacks

caramelised onion & ale burgers were

options in its barbecue range. The New

of flavour, with the chutney sachets really

the overall quality of some of the other

very flavoursome and they all kept

York deli hotdogs are massive and have

adding something extra. The cauliflower

food selections that we tested. The

their size on the barbecue well without

a wonderful smoky flavour. The chilli and

wing bites will somewhat divide opinion

Cajun flavoured butternut "ribs" are

shrinking. If you like a bit of spice

garlic prawn skewers are nice but the

as they have a slightly acquired taste,

an interesting plant-based version of a

in your life, then the spiced beef &

sauce didn’t add quite as much flavour

although the smokiness will be enjoyed

classic barbecue item – although some

lamb kofta are a great choice and go

as expected. The salmon sizzlers are

by some. They are also a little hard to

may find it hard to get to grips with

brilliantly with a green salad and some

tasty, with the harissa seasoning really

cook effectively on a barbecue. The

the similarity, they certainly do taste

feta. The sweet chilli chicken kebabs

standing out along with a nice crispy

cheese and vegetable kebabs are both

good. The beef rib burgers were the

had a nice kick to them although were

skin when cooked correctly. The beef

sweet and salty with the courgette,

best of the bunch, with the cheese and

perhaps a little on the small side.

and chorizo burgers are an excellent

peppers and cheese making a lovely

caramelised onion melt forming an

The chicken shawarma kebab was

alternative to your average burger,

combination. The coconut and lime

excellent addition to an already tasty

definitely the pick of the bunch, with

with the chorizo keeping them nice and

fillets have a nice flavour but are a little

burger. The minted lamb kebabs were

a perfect spice balance and huge

moist. The idea behind the pigs in beach

on the dry side when cooked through.

a little on the dry side and could have

portion in the pack. The whorls blow

towels is a good one, but the bacon

The garlic and herb kebabs are a good

been a little mintier as well. The nacho

the average sausage away as they

is difficult to cook on the barbecue

vegan alternative and are very creamy,

cheese hot dog is a novel idea but

pack a real flavour punch and are sure

without burning it and the sausages

packed full of garlic and melt in the

these were quite fiddly to put together

to be enjoyed by your guests. Overall,

were a little bland. Overall though, a

mouth nicely. Overall, a good selection

and ended up tasting a little on the

an excellent selection from Waitrose.

decent selection of barbecue food from

from Tesco.

heavy side.

★★★★★

Sainsbury’s.

★★★★★

shone through, with all items having

★★★★★ If you’ve ever had a sausage slip through the rack or a marinade make a mess, you’ll see the appeal of this Lakeland Magic reusable non-stick barbecue and oven cooking tray. Essentially a heavy-duty, reusable oven tray that’s perfect for barbecuing, it keeps food contained, ensuring smaller items like prawns and drumsticks don’t fall through the grill. As it is non-stick, the cooked food releases with ease, and just as you thought it couldn’t get any better, it’s dishwasher-safe too and comes with the Lakeland three-year guarantee. Priced at just £9.99, it’s a cheap must-have for your barbecue this summer. lakeland.co.uk

First Time Buyer August/September 2021

FTB 102-103 Fast-Food August-September21.indd 103

103

13/07/2021 16:36

LEGAL

All you need to know about Stamp Duty The holiday may be over but there still is a summer of discounts available for first time buyers looking to budget for their first home. Lesley Price FCILEx of CGM Hampshire Limited gives a breakdown on the options still available when it comes to paying Stamp Duty Land Tax STAMP DUTY LAND TAX SDLT is a tax charged by the Government every time a property over £40,000 in value changes hands. Traditionally, the tax falls on the buyer to pay. The amount due is based on the property value and, in the case of new leases for shared ownership properties, the rent is also considered. The rate at which tax is payable depends on the buyer’s status and, in some cases, all or part of the value can be treated as exempt if the buyer fulfils certain criteria. The most common of this is the relief current available to first time buyers.

FIRST TIME BUYER STAMP DUTY RELIEF Although the SDLT holiday relief has ended, the first time buyer relief is still available at present. If you are a first time buyer, you will pay £0 on the first £300,000 and 5% on the amount above £300,000 up to £500,000. If you purchase a property with someone else, eg a spouse or partner, and only one of you is a first time buyer, or your property is worth over £500,000, then SDLT will be due at the normal rates. If you are a first time buyer, you will pay £0 on the first £300,000. If you are not a first time buyer, then there will £0 due for Stamp Duty Land Tax on the first £250,000, until 30 September 2021.

STAMP DUTY RATES FOR SHARED OWNERSHIP PROPERTIES When you buy a new shared ownership property the tax is calculated in a different way and you have options on how to pay. This is not subject to any current end date. You can choose to pay tax when you purchase the property at the rate it would be due if you were buying 100% of the property at full market value, or you can chose to pay SDLT on the amount you are paying for your percentage share, plus any tax owing on your annual rent amount. Unlike freehold properties, when you are

buying a new lease, the tax is calculated not only on the price you are paying (The Premium) but also on the amount of rent you are paying. With standard residential leases, the rent is usually a nominal figure of £50 to £200, so it has little impact on the tax calculation, but as the level of rent you are paying for a shared ownership property is usually a lot higher, this can have a significant impact on the amount of tax you would pay. If the amount you are paying does not attract SDLT, you can choose to defer paying tax until you buy further percentages of the property. Currently, no additional SDLT return is due if you staircase up to 80%. If you chose to defer paying the tax at the time you purchase, then it may be due when you staircase up. Also, the rates for shared ownership

properties can be used together with the first time buyer relief above, so if your full market value is under £300,000 then you can pay on the market value, but apply the first time buyer relief to cover what you have to pay. Alternatively, you can use the tapered relief up to £250,000 before 30 September 2021. As with any tax issue, it’s best to get specialist advice at the outset to make sure you know how much to budget for and that you are paying the right amount tailored to your individual circumstances. A solicitor who specialises in shared ownership and first time purchases will be able to confirm the best tax options for your individual circumstances. Contact us at enquiries@c-g-m.co.uk for a free, no-obligation quotation

104 First Time Buyer August/September 2021

FTB 104-105 CGM August-September21.indd 104

13/07/2021 16:37

FTB 104-105 CGM August-September21.indd 105

13/07/2021 16:37

FINANCE

Getting ready to buy your shared ownership home Buying a property is one of the biggest decisions you will make in your life, so it is vitally important that you do your homework properly before making this huge commitment. It will not only save you time, but in the long run, may also save you lots of money

The first step is to do a quick calculation using the Censeo App. This will tell you what you can afford and roughly what your outgoings every month will be. The app is available to download from both the Apple and Google Play stores. Armed with this knowledge, you will then be able to do the exciting part – looking for a shared ownership home you know you can afford, either in the pages of this magazine or the variety of websites listing homes for sale. Once you’ve found your dream home, we recommend that you do a more detailed affordability assessment. Just go online and visit our simple-to-use online portal (portal. censeo-financial.com). This will tell you if you are eligible to buy a shared ownership property or not. Next, it makes practical sense to get your finances in order. If you want to be approved for a mortgage, lenders will need lots of information from you. So, it is a good idea to set aside some time to look at all your monthly outgoings – including a realistic amount per month that you can live comfortably on. If you can, try

putting together a simple spreadsheet which includes all your bills, spending, debt repayments, income sources and of course your spending on leisure activities! At the same time, it is essential that you make sure you have sufficient funds for a deposit. Many lenders are now offering up to 95% mortgages so you only need a 5% deposit, but this could still be several thousands of pounds. Either you will need to save up for this or go to the Bank of Mum & Dad for their help. Much will then depend on two key factors – your employment status and your credit score. Having a regular income and being in full-time employment is the ideal, but many lenders now recognise that thousands of people are self-employed, so while it is harder to get a mortgage and you may not secure the best rates, it certainly isn’t impossible. Turning to your credit score, it is important that this is sufficiently high or you may have real trouble getting banks or building societies to lend to you. Therefore, make sure that you don’t miss

For over 14 years, Censeo Financial has been providing an exemplary service to both our housing association and developer clients and our customers. We were set up purely as a mortgage provider specialising in providing homes to first time buyers and since then we have become a recognisable, trusted and award-winning brand. Since 2007 we have helped over 25,000 people with affordability assessments and around 6,000 people to purchase a property through shared ownership.

any payments, you aren’t carrying too much debt (unsecured loans and credit cards) and you have built up a decent length of credit history. It’s easy to check your score, just go online and register on websites such as Experian, Equifax or ClearScore. As you get closer to getting a mortgage, it is a great idea to sort out your paperwork as mortgage brokers will need to see these in order to proceed. Six months’ payslips, six months’ bank statements, proof of residency, company accounts and copies of your passport will all be required, so make sure you have them handy. If you are seeing a broker face to face, then bring them in a folder. If you’re doing everything online then scan them and send them across. Whether you are thinking about buying your first home, you simply want to know what you can afford to buy or you’ve found a property but need sound financial advice, always go to a specialist broker like Censeo Financial. We are established, awardwinning and only do affordable. censeo-financial.com

106 First Time Buyer August/September 2021

FTB 106-107 Finance-Censeo August-September21.indd 106

13/07/2021 16:37

FTB 106-107 Finance-Censeo August-September21.indd 107

13/07/2021 16:37

FINANCE

Nifty and thrifty On top of your deposit and legal expenses, first time buyers may face the additional problem of having to furnish a home from scratch. Kay Hill looks at ways you can cut costs on furniture and furnishings

EXPERT COMMENT Try to invest in at least one goodquality item of furniture in each room and you will instantly lift the overall look and feel of your space. Don’t be afraid to go secondhand to do this; you can find some great pieces online or in charity shops

If you are moving from furnished rented accommodation or from living with parents, then you might find that you have relatively little in the way of furniture – so how do you furnish all that empty space when you’ve just spent every penny on getting the keys? The first thing to remember is that you don’t have to get everything perfect right away – prioritise the essentials, like a fridge, a bed and a sofa, and make do and mend elsewhere. If you have moved into a new home, you will usually find that flooring and major appliances are included, which makes life easier.

NOTHING’S CHEAPER THAN FREE! Firstly, make the most of what you already have. Think about updating tired childhood furniture with a coat of paint (the Frenchic range is easy to use and works wonders) or buying a new throw for your old student sofa bed. Look for free giveaways. It’s surprising what people are willing to donate; a quick look on Facebook Marketplace, with the search word “free” and a distance of 5km, revealed 15 free sofas, a couple of double beds, a handful of wardrobes, bookshelves and coffee tables, a dining room table and two pianos! You might have to factor in the

cost of van hire, but you could probably rent a self-drive for the weekend and furnish your home for free. Most towns have recycling/free stuff groups on Facebook you can join, plus check out Freegle and the “freebies” section on Gumtree.

which can be brought back to life with some new upholstery or a lick of paint. If a piece has great bones and fits your space, you can make it look beautiful again. If quality flooring isn’t in your budget just now, avoid the temptation to just pop

PRE-LOVED BARGAINS

something cheap down to see you

Charity shops that sell home goods not only have bargain prices, but also sometimes offer free or cheap delivery. Look out for Emmaus (which also sells bargain white goods), British Heart Foundation and the British Red Cross. Secondhand shops are a mixed bag – the kind which is piled high with stacked up random furniture is likely to be cheap and cheerful, but the swish retro places are best avoided if you’re on a budget. Auction houses used to be scary to the uninitiated, but a surprising bonus of Covid has been that auctions have moved online, so you don’t have to worry about scratching your nose and buying an antique four-poster by mistake. The Saleroom (thesaleroom.com) gives an overview of local auctions and explains the process, including the fact that the buyer pays fees as well as the seller. For example, if you bought a sofa for £100, you would pay a “buyer’s premium” on top, often around 20%, plus VAT on the premium, so you would actually

option and can often be found at

through – area rugs can be a great reasonable prices online, allowing you to save for flooring that’s right for you. Artwork can be expensive; if you have large walls to fill, mirrors are a good lower-priced option, as is scouting out young unknown artists at art fairs. Once you have a good foundation, it’s all in the styling. Accessories can be used to personalise and brighten your space, and don’t forget plants! Check out supermarkets for low-cost plants and accessories.

Georgina Fraser, MD, Jeffreys Interiors of Edinburgh

108 First Time Buyer August/September 2021

FTB 108-109 Finance August-September21.indd 108

13/07/2021 17:56

FINANCE B I L L Y N E W M AT E S

IKEA has long been a favourite with those setting up home, for its modestly priced, sturdy and stylish furniture – even if marriages have occasionally been shattered attempting to put together Billy bookcases... The Swedish company is also well known for its commitment to the environment, and its newly launched Buy Back initiative will help both bargain hunters and the planet. The scheme enables people to sell back most IKEA furniture and receive a store credit for 30-50% of the original price, depending on the condition. The returned items (fully assembled you might be pleased to know) will then be sold in Bargain Corner, now renamed Circular Hub. In some stores, those who sell back their pieces will even be able to write their history on a special label, so buyers will know they are buying a much-loved item. Greg Lucas, Country Sustainability Manager, IKEA UK and IE said, “Our research shows that there’s a huge demand to buy quality secondhand products. In fact, three in four would now consider buying pre-loved. For many, this comes down to affordability, but sustainability has a huge role to play in this decision too. Encouragingly, 32% people say that the reason they purchase secondhand is to extend the lifecycle of that item, with over a third (35%) agreeing that they like items with a history. We are trialling Pre-Loved Labels for that reason, so people can find out about their furniture’s unique past before giving it a new home.”

EXPERT COMMENT Make a list well in advance of moving in. Start to plan and budget for the furnishing of your new home long before you get the keys. Write a list of everything you might need (including room measurements – there’s nothing worse than falling in love with a piece of furniture only to realise it doesn’t fit in your new home!) and keep a running checklist of items that you’ve managed to secure from family and friends,

pay £124. You also have to arrange your own delivery for your purchases. Don’t forget the old favourites either – eBay, Gumtree, newspaper small ads, supermarket boards, Facebook Marketplace and Preloved.co.uk; plus Craigslist, not as well known as it is in the US, but growing in popularity in the UK.

NOSE FOR A BARGAIN Compared with a generation ago, new furniture can be surprisingly cheap, especially if you assemble it yourself. As well as IKEA, you might want to check out Dunelm, The Range, Wilko, George Home, Argos, B&Q, Wayfair and DFS – but only when the sale is on, of course! If you have no carpets (or hideous, stained ones), a 2m x 3m rug at IKEA can cost less than £100.

ON THE NEVER-NEVER? If only new will do, then it’s worth mentioning finance. DFS, for example, offers an interest-free credit deal which

allows you to have your sofa straight away, with no deposit, nothing to pay for a year, then payments spread over three years. This can help you through the difficult first year, but the monthly payments could come as a shock, so make sure you put it in your diary. Any company offering you credit will do a credit check, which will leave a mark on your file, and you could, of course, be declined. Beware of pay-weekly furniture firms – while the payments seem fairly small, the APR can come in at more than 100%. Credit cards and overdrafts will incur interest, but several new options allow you a short breather on payments free of charge. PayPal credit allows you four months interest-free on payments of more than £99 (but requires a credit check), while if you see Klarna as an option (Made. com and Wayfair both use it), it means you can pay a third up front and the next two instalments monthly, with zero interest (and a soft credit check that won’t show on your file). Similarly, Clearpay, offered by Marks & Spencer, lets you pay in four instalments at two-weekly intervals.

or that you’ve managed to find a bargain for. This will help you spread the cost of decorating and stay on top of the urgent things still needed. Make sure you have an idea of the maximum amount you can spend per item or room, and give yourself the option of allocating more budget to the “bigger” items. Live with the bare minimum to begin with, then add to your possessions as you adapt to your new home. You’ll find out where an extra side table would be handy, where you need some more lighting, or where you need some added decoration for any bare areas.

Salman Haqqi Haqqi, Personal Finance Expert, money.co.uk

First Time Buyer August/September 2021

FTB 108-109 Finance August-September21.indd 109

109

13/07/2021 17:56

MARKET

The Queen’s Speech, what does it mean for housing?

Normally held every year, the Queen’s Speech is part of the State Opening of Parliament, which allows Parliament to begin a new session and start its business. Written by the Government and delivered by the sovereign, the speech announces the legislation that the Government intends introducing, plus “other measures” that it intends bringing forward, giving it flexibility to introduce other bills during the session. This year’s speech, explains Ginetta Vedrickas, contained several ideas to help the country recover from the pandemic by creating new homes and jobs, including legislation that could affect the property market for buyers and renters RIGHTS FOR RENTERS The speech contained several initiatives that will impact upon the rentals market with implications for renters and landlords. Many organisations have campaigned for more rights for those renting in the private sector. Alicia Kennedy, Director of campaigning organisation Generation Rent, welcomed the intentions but called on the Government to do more, “While the Government’s intentions are positive, renters have already been waiting for tenancy reforms for two years. The Government rightly wants to learn the lessons of the pandemic but must use the months ahead to make sure that the

private rental market is suitable for all who now depend on it.” In the speech, the Government announced its intention to publish a Renters Reform White Paper this autumn that will contain more detail, which it believes shows that ministers are prepared to engage with the industry.

EXTEND LANDLORD REGISTER TO ENGLAND The Government also outlined its intention to bring in an initiative that Generation Rent has been campaigning for, a “landlord register”. Scotland and Wales already operate a similar system whereby renters can check online to see if their landlord is legitimate.

Bringing in a similar system would, says the organisation, “help drive criminal landlords out of the market and give renters a way to complain about mistreatment”.

REFORM THE DEPOSITS SYSTEM One of the biggest barriers to moving home when you are privately renting is finding the deposit for your next property while the landlord holds on to your current one. Timothy Douglas, Policy and Campaigns manager at Propertymark, calls upon the Government to give renters more help by introducing a system of lifetime deposits – transferable from one landlord to the next – as well as more penalties for poor landlords,

110 First Time Buyer August/September 2021

FTB 110-111 Market August-September21.indd 106

13/07/2021 16:41

MARKET “The UK Government must look at ensuring that a system that would allow deposits to be passported can only take place if there is a bridging loan, with the Government as the guarantor, in order to ensure the remaining part of the deposit is covered should the tenant default.” Propertymark says that it intends working with the Government to ensure that it fully understands the consequences of any changes and it also intends to scrutinise the White Paper and the proposed legislation, to ensure the best possible outcome for its members.

MODERNISE AND SIMPLIFY THE PLANNING SYSTEM Reforming the planning system so that more new homes can be built has been a contentious subject for many years. Last summer, the Government published its Planning White Paper, which contained wide-ranging reforms to the planning system. In her speech setting out a summary of the Government’s intended legislative programme, the Queen outlined that the Planning Bill intended to “modernise the planning system, so that more homes can be built”. The Government’s briefing document explained that its Bill would “create a simpler, faster and more modern planning system to replace the current one that dates back to 1947”. In line with last summer’s proposals, the Bill will include land categorisations – for growth, renewal or protection – and it also wants to digitise the planning system “to make it more visual and easier for local people to meaningfully engage with”.

REACTIONS TO CHANGES TO THE PLANNING SYSTEM FROM HOUSEBUILDERS Reactions to changes are mixed, but developers have been largely positive about the moves to change land categorisation to make it easier for them to get permission from local authorities to build new homes. Director of New Homes at Zoopla, Alex Rose, describes the Bill as “a positive development that should support many across the country to get on the housing ladder. Housebuilders play a crucial role in supporting the wider economy and introducing automatic planning approvals in growth areas will also make it easier and faster for housebuilders to build developments.” Santhosh Gowda, of construction company Strawberry Star, says that “a dynamic, flexible, digitalised system is an exciting prospect” but he believes that it will be a balancing act for the Government to boost housing supply “without compromising on design, community, and ecology”.

REACTIONS TO CHANGES TO THE PLANNING SYSTEM FROM LOCAL AUTHORITIES Reactions from councils were less positive. Planning spokesperson for the Local Government Association (LGA), David Renard, explains that councils want to work with Government to reform and strengthen the planning system, but they also want to make sure it is “locally led” so that communities can have their say on new developments in their neighbourhoods, and make sure that they are supported by the right infrastructure. The LGA backs measures to get the public more involved through a digitalised service, but Renard warns, “The evidence shows that planning is not the barrier to house building. Councils are granting permission for nine in 10 planning applications while over 1.1 million homes given planning permission in the past decade are yet to be built.” Renard wants councils to have more powers to incentivise developers to get building where houses are needed and ensure there is a mix of homes – to rent and buy – that are available and affordable.

EXPERT COMMENT A greater supply of homes will serve to correct the imbalance between supply and demand which has been intensified by the Stamp Duty holiday. The Government has made a number of announcements in the past on simplifying the planning process, however this will only work if it really reflects local needs and demands. We hope the Planning Bill encourages the development of housing in more affordable areas, as most of the development taking place is in areas that are unaffordable to first time and lower income buyers. Mark Hayward, Chief Policy Advisor, Propertymark propertymark. co.uk

EXPERT COMMENT

HELP TO BUILD The Government announced its Help to Build scheme, a £150m fund allowing for low-deposit mortgages through equity loans on self-build and custom-built homes. The Government thinks that this could create around 30,000-40,000 new homes a year. Further details will be announced later.

It is promising to see the Government seeks to radically simplify the planning process. It takes far too long for planning to get through the system, with it broadly working the same way for small developments as larger projects, which in turn is hugely disproportionate. We would

LEASEHOLD REFORM AND GROUND RENTS

hope to see the introduction of a

Spiralling ground rent charges have become a hot political issue over the years, with many owners facing years of exorbitant charges. Under the Leasehold Reform, Ground Rent, Bill, ministers intend “ending the practice of ground rents” for new leasehold properties. Any freeholder found guilty of charging ground rent in contravention of the Bill could be fined up to £5,000. The Bill does allow for “selected exemptions” for ground rents, including for some parts of the community-led housing sector. Earlier this year, as part of the Government’s intended leasehold reforms, housing secretary Robert Jenrick announced that leaseholders would have the right to extend their lease by a maximum term of 990 years without paying any ground rent to their freeholder.

therefore resulting in a faster decision

SAFETY LEGISLATION Last summer the Government published its draft version of The Building Safety Bill

simple rules-based approach rather than the decision of a committee, and appeal process.

Ben Dyer, CEO, Powered Now powerednow.com

for pre-legislative scrutiny. The Bill, the Government said, would ensure that “the lessons from the Grenfell Tower tragedy are learnt and that residents are safe and feel safe in their homes”. In the Queen’s Speech, the Government reiterated its intention to bring forward legislation to address building safety and stated that it would “establish in law” a new Building Safety Regulator to “ensure that the tragedies of the past are never repeated”.

First Time Buyer August/September 2021

FTB 110-111 Market August-September21.indd 107

111

13/07/2021 16:41

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 Sarah McCarthy Marketing Manager, Network Homes

Andrew Theoff Managing Partner, Direction Law

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

T E S T T H E PA N E L

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

Can I bring my pet?

My boyfriend and I are planning to start looking for our first home together. My boyfriend is eager to begin viewing some apartments and I’m starting to feel stressed, as I’m worried I won’t be able to bring my cat, Beau. Beau has played an important part in improving my mental health and reducing my anxiety, so I’m keen to find a home that can accommodate him. Am I going to be able to enjoy looking for a new home? Florence Hill, Ealing

The profound benefits of having an animal companion are proving to be increasingly pertinent during the pandemic; owning a pet can lift your mood, enable you to cope with anxiety and help relieve depression. Unfortunately, due to strict regulations, lack of space or access to the outdoors, it means that many homeowners residing in apartments are unable to fulfil their dream of living alongside a four-legged friend. Recognising this growing desire to own a home as well as a pet, Network Homes is pleased to announce that a selection of its

developments in west London warmly welcome homebuyers and their furry companions. You will have to complete a form to request permission, which is subject to approval by the managing agent. Acton Works is situated within the increasingly sought-after area of Park Royal. Offering a choice of one and two bedroom shared ownership apartments, there is truly something for everyone here. Each and every home has been carefully designed to suit the needs of 21st century buyers; all homes benefit from open-plan layouts that easily cater for those living with their pets. A welcome expanse of private outdoor space in the form of a balcony, and tranquil ground and rooftop communal gardens, also create a pet-friendly space to get outside for those allimportant morning walks. Selected homes come complete with wheelchair access and limited allocated private parking. Prices for a one bedroom apartment at Acton Works start at £80,625 for a 25% share of a one bedroom apartment with a full market value of £322,500. Find out about all our pet friendly developments by checking our website networkhomessales.co.uk. Sarah McCarthy

112 First Time Buyer August/September 2021

FTB 112-113 Agony Agent August-September21.indd 112

13/07/2021 16:42

EXPERTS

Which solicitors to use?

I have recently signed up for a new build property with a housing association and they have supplied a recommended panel list of solicitors. However, I was just thinking of using the solicitors down the road from me as they are close. What would be the difference? Josh Taylor, Ashford

Housing associations and the mortgage brokers they work with will often have panels of solicitors that they recommend who specialise in affordable housing. Many buyers are distrustful of using a firm of solicitors who have been recommended, fearing that they won’t be sufficiently independent. Although this is a natural concern, buyers should understand that their solicitor is duty-bound to act in their best interests and is acting for them not the seller. Walk down any high street and you will find a firm of solicitors offering conveyancing services. However, the vast majority of these will have little or no experience of affordable housing schemes as it is only relatively recently that shared ownership, alongside various equity loan and discount purchase price schemes, have become more well known. Affordable housing is still only a comparatively small proportion of the overall housing sector, and most solicitors still see it as more complex than “ordinary” conveyancing and as a result will usually charge more and generally take longer when dealing with such cases. In terms of new build properties, the legal paperwork is voluminous and takes several hours to read. Furthermore, as it

tends to be similar for all plots, it is more efficient for a solicitor to act for multiple buyers on a development. As a result, a buyer who uses a solicitor who is already familiar with a particular development will be more likely to achieve the exchange deadline imposed by their housing association than one who uses their own, non-specialist, solicitor. Therefore, in answer to your question, using a firm which is on a recommended panel and specialises in affordable housing, such as ourselves, means that you will be looked after by an expert who will most likely charge less and generally proceed quicker than if you used a conventional high street solicitor. Andrew Theoff

What are my options?

I am a recent graduate who is now working in central London while renting with friends. I am eager to stop paying rent and want to get on to the property ladder as soon as possible in a wellconnected, vibrant London location. However, with the incredibly high house prices, I cannot see how this could be a possibility for me. I want to know about what options are available to me, as I have a small amount of savings which I hope will help me move out and into my own home. Phoebe Allen, Brixton

Given your circumstances, Phoebe, it sounds like shared ownership could be perfect for you! The Government-backed shared ownership scheme is available to eligible first time buyers and others who do not currently own a home. The scheme allows eligible buyers to purchase a proportion of the property (between 25% and 75%), with deposits starting from just 5-10% of the share they buy. This means that buyers require a much smaller deposit than they would typically need if they were buying

on the open market. Shared owners pay a mortgage on the share they own, and pay rent to a housing association, such as Origin Housing, on the portion they do not own. It is also a great option for those looking to move away from renting privately, as monthly payments can often be less than renting in the same area. Shared ownership allows buyers to purchase more of their home over time through a process called staircasing. Staircasing is the process of buying more shares until you own the property outright; a process which can usually be done up to three times. As you purchase more shares, the amount of rent paid to the housing association will go down, and buyers will pay more towards their mortgage. When

you own the home outright, you will pay no rent at all – just the monthly mortgage payments and any relevant service charges. Eligibility criteria apply. For example, you must have a household income of less than £90,000 if you are buying in London, or £80,000 if you are buying outside the capital, and priority is sometimes given to those who live or work in the borough. Here at Origin, we have a wide selection of developments across London perfect for buyers like you! These include Harrow One, a collection of studios and one, two and three bedroom homes in central Harrow and The Place, New Southgate, a stylish collection of homes in a convenient location, moments from public transport. Simon Scott

First Time Buyer August/September 2021 113

FTB 112-113 Agony Agent August-September21.indd 113

13/07/2021 16:42

SUBSCRIPTIONS

SUBSCRIPTION

OFFER!

Four issues for just

£14 Please call our subscription team on

1 issue

£3.95

020 3874 1649

4 issues

£14

6 issues £21

FTB 114-119 Buyer's Guide August-September21.indd 114

(Free P&P)

13/07/2021 17:05

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.

First Time Buyer August/September 2021 115

FTB 114-119 Buyer's Guide August-September21.indd 115

13/07/2021 17:05

BUYERS’ GUIDE

The ftb process TIPS

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

Unless you have enough money to buy a property outright you’ll need a mortgage. A mortgage is a loan used to buy a property and is 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

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

116 First Time Buyer August/September 2021

FTB 114-119 Buyer's Guide August-September21.indd 116

13/07/2021 17:05

BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

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

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.

First Time Buyer August/September 2021

FTB 114-119 Buyer's Guide August-September21.indd 117

117

13/07/2021 17:05

BUYERS’ GUIDE

BUYERS’ COSTS

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.

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).

118 First Time Buyer August/September 2021

FTB 114-119 Buyer's Guide August-September21.indd 118

13/07/2021 17:05

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.

First Time Buyer August/September 2021

FTB 114-119 Buyer's Guide August-September21.indd 119

119

13/07/2021 17:05

LEGAL

The difference between buying a new build property and an existing property Purchasing a new build property is slightly different to purchasing an existing property. Here Adam Crawford, Partner at Prince Evans Solicitors LLP, looks at some of the key differences from a legal view

RESERVATION Generally, once you have an offer accepted for a new build property you will be asked to pay a reservation fee to the developer. Typically this is anything from £500 to £2,000 but can vary depending on the developer. This reservation fee will be taken as a contribution to the deposit payable on exchange of contracts. The reservation fee will often be stipulated to be non-refundable if you withdraw, or if you do not meet the exchange deadline set by the developer. The reservation form will set out the terms of your purchase of the property together with the address or plot number, the purchase price and any incentives you have agreed with the developer. The reservation form does not legally bind you to buy the property or the developer to sell the property.

INCENTIVES When you buy a new build property the developer may offer you certain incentives (for example, there may be a contribution towards your Stamp Duty or legal fees). These incentives will be stated on the reservation form and included in the contract. The incentives must also be disclosed to your mortgage lender and this is achieved by the developer completing a Disclosure of Incentives Form.

EXCHANGE DEADLINE When you buy a new build property the developer will set you a deadline to exchange contracts; this is generally 28 days (but does vary by developer) from the date it issues the contract papers required by

your solicitor to progress the conveyancing for your purchase. If you do not meet this deadline to exchange then you may lose your reservation fee or part of your reservation fee and any incentives you have agreed. The developer may also cancel the sale to you.

CONVEYANCING When a new property is sold for the first time, whether it is a flat or a house, rights have to be granted for and reserved over the property (such as rights to use the roads, footpaths, service pipes etc), covenants/ obligations that must be observed are set (such as not to alter the property without consent) and management arrangements must be set up (such as who maintains the roads and landscaped areas). As this is the first sale of the property and these arrangements remain with the property permanently, it is especially crucial that your

solicitor ensures these are accurate and adequate for the benefit of the property, not just for you but for all future owners. Your solicitor will also check the planning permission and any planning obligations for the development and how these may affect your use of the property (for example, it is common in London for there to be a restriction preventing you from applying for a parking permit from the local council). They will also check that the appropriate building regulations and new build warranty are in place, which ensures that the new property is structurally sound when constructed. Searches will be carried out; standard searches include a Local Authority search, a drainage search, an environmental search and a chancel check, although others may be required depending on the location of the property. These will reveal important matters such as any planning entries/

120 First Time Buyer August/September 2021

FTB 120-121 PrinceEvans August-September21.indd 120

13/07/2021 16:43

LEGAL

restrictions which affect the property, whether roads are publicly maintained, whether there are any orders you must observe (such as a smoke control order or tree preservation order) and will identify any potential contaminated land issues. Your solicitor will ensure there are adequate arrangements in place for the management of any estate and any service charges you will incur. It is standard these days, even when buying a house, for service charges to be payable for the maintenance of the estate where the property is located. If you are buying with a mortgage then your solicitor will ensure any mortgage conditions can be complied with and will report to you on the legal aspects. As you can tell from the above, there is much work for your solicitor to undertake to ensure you can achieve the deadline to exchange set by the developer. Therefore you are strongly recommended to use a solicitor with considerable expertise in new build properties. The developer may recommend a solicitor to you. You are not obliged to use this solicitor but it may be wise to do so as they will likely have the necessary experience/expertise and may have already carried out due diligence on the legal aspects of the development.

EXCHANGE AND COMPLETION Once all of the above steps have been completed and you have signed your contract and paid a deposit (usually 10% of the purchase price) then you will be ready to exchange contracts (which is when your new purchase will become legally binding). When you are buying an existing property a completion date (moving date) would normally be fixed on exchange of contracts on a date agreed between the seller and the buyer. However, if you are buying a new build property then often this will be “off-plan” meaning that completion will take place on a future date once the property is constructed and ready for occupation. You will normally be given 10 working days notice that the property has been constructed and you are required to complete on the date

prescribed by the notice (ie you will not get to choose your completion date). It is worth noting that delays can sometimes occur to the build of your property, often outside of the developer’s control, and therefore you may find that completion takes place several weeks/ months later than you expected, so you must plan for this accordingly. In this situation, any mortgage offer you have obtained may expire before completion. You may be able to arrange an extension, or you may have to obtain a new mortgage offer adding more expense to you. There is a risk that your personal circumstances and/or the mortgage market may have changed and you cannot secure a new mortgage in time for completion. This would put you at risk of breach of contract and result in the loss of your 10% deposit and potentially other costs/damages. The searches which were carried out may also have expired and you may have to obtain new searches or a search insurance policy adding more cost to your purchase. Hopefully none of the above points will apply to or affect you and you will complete as scheduled. On the day of completion, most developers will arrange for a formal handover where you are not just given the keys but are also given a demonstration of how the utilities work and provided with any user manuals and guarantees.

AFTER COMPLETION Once completion has taken place, most developers will offer a “snagging” or “defects” service. This means they will repair any items of disrepair you find for a certain period. You are best advised to inspect and prepare a list of the snagging/ defects on or before completion and to enquire before completion what the developer’s snagging procedures are. Please bear in mind when buying a new build property that you are part of a new development and some of the shared facilities such as landscaped areas may not be completed for some time after you move in. You may also have to accept that works may be ongoing on the development for some time creating noise and inconvenience to you.

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

Your solicitor will register your ownership of the property at Land Registry after completion but you should be aware that the registration process can often take months for Land Registry to complete. This is nothing to worry about as you are the owner of the property from the date of completion and your interest will be protected until the land registration has been completed.

OTHER POINTS TO CONSIDER Help to Buy – If you are buying a new property you may be eligible to take advantage of the Government’s Help to Buy scheme. This is where you can borrow 20% (or up to 40% in London) of the purchase price from the Government and pay no interest on this for the first five years. When you sell the property you will have to repay the loan at the same rate as the value of the property at the time you sell. More details can be found at: helptobuy.gov.uk/ equity-loan/equity-loans/ New Build Warranty – The vast majority of new build homes are sold with the benefit of a new build warranty. The most popular warranty provider is NHBC (although there are other providers such as Premier Guarantee and LABC). This warranty will provide a 10-year guarantee against structural defects to the property. Consumer Code – If you are buying with a new build warranty then most developers are obliged to subscribe to a Consumer Code. This is a code of conduct and practice developers are required to observe to ensure the home buying process is fair and transparent to the buyer. More details can be found at: consumercode.co.uk/

CONCLUSION While buying a new build property broadly follows the process of buying an existing property there are notable differences. Some are positive (such as the benefit of a new build warranty) but some are less positive (such as the potential uncertainty over completion dates). It is important to ensure you use a solicitor who is experienced with dealing with new build properties so they can explain these points to you clearly. One thing that cannot be in doubt if you buy a new build property (and the author can speak from personal experience) is the joy you will feel at being the first owner of a brand new property which you can make into your own home.

First Time Buyer August/September 2021

FTB 120-121 PrinceEvans August-September21.indd 121

121

13/07/2021 16:43

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

122 First Time Buyer August/September 2021

FTB 122-129 Directory August-September21.indd 122

13/07/2021 16:57

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

First Time Buyer August/September 2021 123

FTB 122-129 Directory August-September21.indd 123

13/07/2021 16:57

FTB 122-129 Directory August-September21.indd 124

13/07/2021 16:57

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

LONDON Catalyst 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

catalyst.homes 0333 444 3500 Clarion Housing

01235 515 900

Octavia Housing

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/

Southern Home Ownership shosales.co.uk

0300 123 2250 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

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

First Time Buyer August/September 2021 125

FTB 122-129 Directory August-September21.indd 125

13/07/2021 16:57

FTB 122-129 Directory August-September21.indd 126

13/07/2021 16:57

USEFUL CONTACTS HELP TO BUY PROVIDERS CURO

Rooftop Housing Group

Accord

Friendship Care & Housing

Nottingham Community

South Staffordshire

curo-group.co.uk

rooftopgroup.org

accordgroup.org.uk

fch.org.uk

Housing Association

01225 366 000

0800 042 1800

0300 111 7000

0300 123 1745

ncha.org.uk

ssha.co.uk

0800 013 8555

01785 312 000

Elim Housing

Sanctuary Southwest

Acis Group

Home Group

elimhousing.co.uk

sanctuary-housing.co.uk

acisgroup.co.uk

homegroup.org.uk

Orbit

Waterloo Housing

01454 411 172

0800 131 3348

0800 027 2057

0345 141 4663

orbit.org.uk

Association

0800 678 1221

waterloo.org.uk 0800 435 016

Green Square

Severn Vale Housing

Bromford Group

Guinness Partnership

greensquaregroup.com

svhs.org.uk

bromford.co.uk

(Northern Counties)

PA Housing

01249 465 465

01684 272 727

0330 123 4034

guinnesspartnership.com

pahousing.org.uk

WM Housing Group

0303 123 1890

0116 257 6716

wmhousing.co.uk 0300 790 6531

Guinness Partnership

Sovereign Housing

Caldmore Accord

(Hermitage)

sovereign.org.uk

caldmoreaccord.org.uk

L & H Homes

Places for People

guinnesspartnership.com

0300 500 0926

0300 111 7000

landh.org.uk

placesforpeople.co.uk

0345 309 0700

01772 667 002

0303 123 1890

NORTH WEST Accent Group

Stonewater

Clarion Housing

Hastoe Housing

stonewater.org

myclarionhousing.com/

Metropolitan

Riverside Housing

accentgroup.org

Association

01202 319 119

sharedownership

metropolitansales.org.uk

Association

0345 678 0555

020 7378 5638

020 3535 2555

riverside.org.uk

hastoe.com 0300 123 2250

Westward Housing

Liverty

westwardhousing.org.uk

Derwent Living Housing

Midland Heart

dchliverty.com

0300 100 1010

Association

midlandheart.org.uk

Rooftop Group

derwentliving.com

0345 602 0540

rooftopgroup.org

0300 123 8080

MIDLANDS

0345 155 9029

01332 346 477

Places for People

Adactus Housing Group adactushousing.co.uk

0800 042 1800

0300 111 1133 Arcon Housing Association

Muir Group

placesforpeople.co.uk

Accent Group

East Midlands Housing

muir.org.uk

Sanctuary Midlands

arcon.org.uk

01772 667 049

accentgroup.org

Association

0300 123 1222

sanctuary-housing.co.uk

0161 214 4120

0345 678 0555

emhhomes.org.uk

0800 131 3348

0300 123 6000

First Time Buyer August/September 2021 127

FTB 122-129 Directory August-September21.indd 127

13/07/2021 16:57

USEFUL CONTACTS HELP TO BUY PROVIDERS CDS Co-operatives

0117 407 2415

0345 678 0555

cds.coop 0333 321 3030 Eden Housing Association

Equity Housing

Guinness Partnership

Acis Group

manninghamhousing.co.uk

Accent Group

muir.org.uk

acisgroup.co.uk

01274 771 144

accentgroup.org

0300 123 1222

0800 027 2057

0345 678 0555

Places for People

Broadacres

muir.org.uk

Bernicia

placesforpeople.co.uk

broadacres.org.uk

0300 123 1222

bernicia.com

01772 667 002

01609 767 900

Progress Housing Group

Crucible Homes

placesforpeople.co.uk

Castles and Coasts

progressgroup.org.uk

cruciblesalesandlettings.co.uk

01772 667 002

castlesandcoasts.co.uk

0333 320 4555

0114 241 3430

0800 085 1171 Together Housing

Regenda Homes

Equity Housing

togetherhousing.co.uk

Erimus Housing Ltd

regenda.org.uk

equityhousing.co.uk

0845 077 0027

erimushousing.co.uk

0344 736 0066

0300 123 4460

Home Group

0300 111 1000 Sanctuary North

homegroup.org.uk

Riverside Housing

Guinness Partnership

sanctuary-housing.co.uk

Guinness Partnership

0345 141 4663

Association

(Northern Counties)

0800 131 3348

(Northern Counties)

riverside.org.uk

guinnesspartnership.com

0345 155 9029

0303 123 1890

impacthousing.org.uk

guinnesspartnership.com Stonewater

0303 123 1890

stonewater.org Sanctuary North

Home Group

sanctuary-housing.co.uk

homegroup.org.uk

0800 131 3348

0345 141 1663

Association

01202 319 119

Home Group homegroup.org.uk

Wakefield and District

0345 141 1663

Housing

irwellvalleyha.co.uk

Your Housing Group

Leeds Federated Housing

wdh.co.uk

Karbon Homes

0161 610 1000

yhghomes.co.uk

Association

0345 850 7507

karbonhomes.co.uk

0845 618 5008

lfha.co.uk 0113 386 1000

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

0300 111 1000

0344 800 3800

0303 123 1890

Irwell Valley Housing

Thirteen

Places for People

guinnesspartnership.com

0344 873 6290

0800 131 3348

thirteengroup.co.uk

Muir Group

(Northern Counties)

Impact Housing

Sanctuary North sanctuary-housing.co.uk

Muir Group

equityhousing.co.uk 0300 123 4460

NORTH EAST

Association

edenha.org.uk 01768 861 400

Manningham Housing

YORKS/ HUMBER

L&H Homes

0808 164 0111 Your Housing Group yhghomes.co.uk

Places for People

0845 618 5008

placesforpeople.co.uk

landh.org.uk Liverpool Housing Trust

Accent Group

lht.co.uk

accentgroup.org

01772 667 002

0345 309 0700

SUBSCRIPTION

OFFER! Four issues for just

£14

Please call our subscription team on

020 3874 1649 128

1 issue £3.95

(Free P&P)

4 issues £14

(Free P&P)

6 issues £21

(Free P&P)

First Time Buyer August/September 2021

FTB 122-129 Directory August-September21.indd 128

13/07/2021 16:57

FTB 122-129 Directory August-September21.indd 129

13/07/2021 16:57

20 QUESTIONS Gemma Harris is Head of Sales and Commercial Lettings for CHP, a locally managed and governed housing provider based in Chelmsford, Essex. Gemma joined CHP just over two years ago to lead on the delivery of the sales programme consisting of both new and existing homes. With more than 20 years’ experience of working in the affordable housing sector, Gemma is passionate about shared ownership and delivering an excellent customer experience

20 QUESTIONS th Wi

Gemma Harris

What room at home is your favourite? The kitchen/dining area – it’s the real hub of our home. What’s your favourite gadget or technology at home? The Alexa – not only is it useful for a number of different things, it’s also great for keeping the kids entertained. What colour do you think everyone should have in their home? Grey, I just love grey! Which three people would you invite over for a housewarming party if you could have any guests? Michelle Obama, Katie Piper and Jacinda Ardern – three truly inspirational women who I’m sure would also know how to party! What’s your favourite memory from your childhood home? Curled up on my bed on those dark winter nights with a cup of hot chocolate – I will never forget that feeling of being cosy and safe. What interior trend do you hate? I am not a fan of Cottagecore. I don’t really like chintzy patterns, so I couldn’t bring myself to style my house in this way. Would you rather have a garden or a balcony? It would have to be a garden. Having three children it’s really an extended part of our house anyway – penalty shoot-outs on a balcony just wouldn’t be the same! Do you prefer modern homes or period properties? I do like a bit of character, so I would probably be more inclined to say period properties. That said, housebuilders are becoming much savvier in terms of adding character features to new builds, so there is a balance to be struck. Would you rather have a library room or media room at home? It would have to be a media room. I don’t think a library room would get the same use as a media room in my house. Would you prefer to have a luxurious bathtub or enjoy a sumptuous shower? A luxurious bathtub – there’s nothing better than a nice long soak

in a bubble bath. In reality, everything in my house is always a rush and when I do manage to have a bath, I’m constantly interrupted by the kids, so it’s not something I do very often! Would you rather live in the bustling city or in the country? I grew up in a village, so I am a big fan of country living. However, I do enjoy the best of both where I live now – I’m a five-minute walk away from a country park, but the town centre is also extremely close by. If you were buying a property overseas, in what country would you buy a home? After watching far too many TV programmes about property hunting abroad, it would have to be Australia. I’ve never actually been to Australia, but it looks amazing and I think it would be a fantastic experience for us as a family. Would you rather have a bigger property or a better location? A bigger property – I have a large family, so space is essential to me. Home is where you make it! What is one thing you couldn’t live without at home? My dishwasher – I really don’t know how we coped before they became such a common kitchen appliance! What’s your favourite way to unwind at home after work? Sat in the garden with a glass of wine (if the weather is nice enough, of course!) What’s your favourite thing about your home? Our loft conversion. The works were completed last year and it just adds so much to our home in terms of space and light. Now we have it, I’m not sure how we managed without it. Where did you buy your first home? Strood just outside Rochester in Kent. It wasn’t the most attractive of properties or locations, but it enabled us to buy a bigger home, which we just wouldn’t have been able to afford to do without moving further afield. What advice would you give a first time buyer? Make sure you do your research on absolutely everything! This is the biggest purchase you will ever make in your life, so you have to be sure that everything about it is right for you. What are your views on shared ownership? I think it’s a fantastic product that makes homeownership a reality to those on lower incomes with less of a deposit. What are your views on the property market? I personally wouldn’t enter into the property market for a shortterm gain. For me it’s about long-term investment and security, which means that you benefit when the market performs well, but also that you have to be prepared to ride out the storm when interest rates are high and house prices are falling. Everything comes full circle eventually, but it’s not for the faint-hearted, that’s for sure! chp.org.uk

130 First Time Buyer August/September 2021

FTB 130-132 20Qs August-September21.indd 130

13/07/2021 16:45

FTB 130-132 20Qs August-September21.indd 131

13/07/2021 16:45

FTB 130-132 20Qs August-September21.indd 132

13/07/2021 16:45

First Time Buyer – August/September 2021

Articles inside

Legal

20 Questions

Agony Agent

All you need to know about Stamp Duty

Getting ready to buy a shared ownership home

Finance

Market

Fast food

Getting a leg up on the housing ladder

First home, first meal

FTB loves

Developer’s doctor

House Hunter

At home with Sophie Bertrand

Words from Jonnie

The View: Ginny Buckley