First Time Buyer December 2020/January 2021 by The Ultimate Guide Company

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY December 2020/ January 2021 £3.95

firsttimebuyermag.com

Your new homebuying journey

ALL CHANGE! WHAT'S IN STORE FOR SHARED OWNERSHIP?

FREE MAGAZINE YOUR NEW HOMEBUYING JOURNEY FROM CATALYST NEW HOMES

THE BEST FTB HOTSPOTS GREEN HOMES

WIN!

A DENBY ELEMENTS TABLEWARE SET WORTH £204

“Buying your first home is the biggest investment you will ever make” Craig Phillips TV DIY expert

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EDITOR’S LETTER

E D I T O R I A L – 020 7258 0036

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

Director of Advertising/Exhibition Sales LYNDA CLARK

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

Welcome It’s been quite a year! Nobody could have predicted that we would be in such extraordinary times and I hope you have all been keeping safe and well. Christmas is a time when we look forward to being with family and friends but at the moment we don’t know quite how it will all pan out this year but however you spend the festive season I hope you have a wonderful time. The housing market has been really buoyant throughout this crisis and so many first time buyers have managed to get a foot on the property ladder. For those still searching I am sure your dreams will soon turn into reality. Our FTB readers’ Awards were a little different this year. We had to do them virtually which was certainly a “first” for us. They were really successful and fun too and we had amazing feedback to say that everyone had a great afternoon watching them from home or socially distancing in the office. I would like to thank everyone for their support and for taking the time to vote. Do turn to pages 61-71 where you can see all the highly commended and winners. This bumper issue is packed full of information to guide you all the way through the homebuying process, which can often be quite confusing. So, if you are struggling to understand how it all works, then I am sure you will find the answers to all your questions inside. I hope you all have a very happy Christmas and a prosperous New Year and thank you again for all your support. Until next time, happy house hunting PS We do hope you enjoy the extra magazine with this issue, from Catalyst New Homes – Your New Home Buying Journey – which gives lots of information and help. @firsttimebuyer

Accounts accounts@ultimateguidecompany.com Managing Director SARAH GARRETT sarahg@spmgroup.co.uk Public Relations RACHEL COLGAN rachel@building-relations.co.uk SUBSCRIPTIONS 020 7258 0036

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

The design of our home means that it is easy to keep energy bills down as we very rarely need to turn on the heating

THE ULTIMATE GUIDE COMPANY LTD, 37 IVOR PLACE, LONDON NW1 6EA

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

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

EDITOR’S PICKS…

SWITCHBOARD 020 7258 1777 FAX: 020 7258 1787

All advertising copy for December 2020/January 2021 must be received before 6 November 2020. Send all copy to: lynda@ firsttimebuyermag.co.uk

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I’ve been sharing with my sister for a good few years but it’s time to move on. I’ve been dreaming of buying my own place for so long. Janice Le, House Hunter, page 16

Our kitchen/ diner is the place where everything happens – it’s the hub of my home.

Vicki Noon, 20 Questions, page 106

Yingqi, Real Life, page 54

Try to save as much for your deposit as you possibly can.

The market has been unexpectedly buoyant and agents themselves have been rushed off their feet trying to arrange floods of viewings. Jonnie Irwin, Jonnie’s World, page 9

Leah and Carl Anten, At home with, page 14

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CONTENTS

DEC 2020/JAN 2021 / ISSUE 86 / FIRSTTIMEBUYERMAG.CO.UK

What’s in… 54

Yingqi, a research manager at Imperial College, and his family have found sanctuary in their Octavia Passivhaus home at the Sulgrave Gardens development in Shepherd’s Bush, which they bought through shared ownership. After moving from China and settling in Hammersmith, they never thought it would be possible to buy a home in west London, but with the help of this affordable Government scheme they were able to purchase a two bedroom apartment.

HOMEPAGE

FEATURED

For sale

9 Words from Jonnie

20 The View: Craig Phillips

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

Craig Phillips was the first winner on Big Brother and is a DIY expert, builder and property expert and is on the Channel 5 series How to Add 20k to Your Home. He talks to Lynda Clark about his interesting career, his home and how he views the property market.

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

12 Living Celebrate Christmas with some magical accessories that are sure to add some sparkle to the big day.

14 At home with… Leah and Carl Anten Leah and Carl have renovated and re-built various properties but they are now working on their “forever home” and doing all the work themselves. They explain to Lynda Clark how they have done it, what experiences they have had along the way and have some excellent advice for ftbs.

24 Wish you were Here Looking to buy your first home in 2021? Debbie Clark explores some

favourite property hotspots around the UK to help you find your dream home. This issue includes up-andcoming areas in Birmingham, Manchester and Liverpool.

32 A new model for shared ownership Following the Government announcement concerning major changes to the way shared ownership works from April next year, Kay Hill looks at what is changing and how it will affect first time buyers.

16 House Hunter We try to find Janice Le a home in or around Docklands.

18 Developer’s doctor James Munson, Head of Marketing at Notting Hill Genesis, answers your property question.

4 First Time Buyer December 2020/January 2021

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CONTENTS CRAIG PHILLIPS, PAGE 20

I WORKED ON 60 MINUTE MAKEOVER AND I LOST COUNT OF HOW MANY ROOMS I MADE OVER IN THE END

Craig Phillips

82 Mortgage Clinic

REGULARS

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

buyer

READERS’ AWARDS 2020

36 Hotspot

First Time Buyers Readers’ Awards 2020 The winners and highly commended from this year’s first virtual Awards

ftbawards.com

84 Finance

We look at Brighton and Hove as places to live.

72 A simple guide to legal jargon Lesley Price FCILEx, of CGM Solicitor, breaks down the legal jargon and gives advice on some of the practical and legal aspects of buying a home.

Prime Minister Boris Johnson recently promised a new golden age of house buying, with readily available 95% mortgages. Kay Hill looks at whether this could be a game-changer for first time buyers.

86 Market Buying an energy efficient home has become extremely popular especially as there are Government grants to help. Ginetta Vedrickas looks at the options of how to make your new home a green one.

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

Competition Win a Denby Elements 12-piece tableware set worth £204

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

78 First home, first meal A traditional Nordic favourite, meatballs are always a popular dish but are also a Christmas favourite. This delicious recipe from Jorjon Colazo, Head Chef at Aquavit London, is quick and easy to make and will create the perfect Christmas Eve supper.

80 Fast Food Looking for the most delicious Christmas pud or the best bubbly? We look at the top seasonal fayre from the UK’s supermarkets and highlight just what we think will make the perfect festive lunch.

96 The difference between leasehold and freehold Adam Crawford, Partner and Head of New Build Homes at Prince Evans, explains the difference between leasehold and freehold.

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

106 20 Questions We ask 20 quick-fire questions to a property expert and in this issue Vicki Noon, Sales and Marketing Director at award-winning Inland Homes, is in the spotlight.

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LETTERS

Mailbox MORTGAGE ADVICE I have finally found the property I want to buy and as a first time buyer this is all very new to me. I have started to look for a mortgage and want to use a mortgage adviser to do this. I have been told to make sure that they are a regulated broker. What does this mean and how can I check if they are regulated? Ruth Shufflebottom FTB: It is vitally important that you check your mortgage adviser’s qualifications before you allow them to find a mortgage for you. In the UK, all mortgage advisers are required to be regulated by the Financial Conduct Authority (FCA) or have to be an agent to a regulated firm. You can easily check this by checking the FCA register online. You should always understand what a mortgage adviser is going to charge you for their services and know what the range of services they will provide for you are. You also really want to ensure that the adviser you are using has access to the whole market as this will give you a better choice of mortgages to choose from. Going to one which does not have this access may lead you down a much more expensive path. This issue’s star letter wins a Lakeland Wildflowers Christmas Hamper Tote worth £24.99*. Printed with an array of summertime flowers, it will make a perfect treat for anyone who loves a country walk or a cottage garden. The sturdy canvas bag is ideal for shopping trips and will remind its lucky owner of their gift even after the teatime treats have long gone. The hamper includes raspberry and vanilla jam, lemon curd, all-butter shortbread melts, butterscotch biscuits, luxury vanilla fudge, English breakfast tea and Bramble House fruit cake. *If the prize is not available the winner will be given a voucher of the same value

WHERE TO START? I have decided that now is the time to get on to the property ladder but I am confused over which comes first, finding a mortgage or finding a property? Is there a best place to start? Jamel Robson FTB: Your first port of call should be to speak to a mortgage adviser and get a mortgage in principle. This will give you a good idea of how much you can afford

and what properties you should be looking at. It’s good to have an idea of the highest amount you are prepared to pay; and don’t go over your limits no matter how dreamy the house might seem. Be warned though that a mortgage in principle doesn’t guarantee a mortgage application will be accepted. It remains conditional on you being able to meet the criteria for the mortgage in practice, and is not a promise or guarantee.

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

NOISY NEIGHBOURS Friends of mine have recently bought their first property and have had real problems with noisy neighbours. Is there anything I can do to find out what my neighbours are like before I purchase my first property so that the same thing doesn’t happen to me? Darcie Bowden FTB: If the seller has not made any official complaint, either to their neighbours directly or to the council, they are under no obligation to let you know about any ongoing problems or issues they may have had in the past. If they have made an official complaint however, they must declare this information on the Seller’s Property Information Form (SPIF) which is a document you can obtain from your solicitor if you ask them for it. If, following your purchase of the property, you believe that the vendor did not provide you with the appropriate information, you might have the option to take legal action against them. It is also worth asking the estate agents about the neighbours because if they know of any issues, they are obligated to share these with you.

WORRIED ABOUT PROBLEMS WITH PURCHASE I am buying my first apartment but I have heard stories of purchases falling through. What could cause this and is there any way to stop it from happening? Ritchie Farrington FTB: Although it sounds alarming, you have to be fairly unlucky for a purchase to fall through, especially the further down the line you go. Once you have a solicitor and a mortgage, it will be time to get surveys – a valuation survey to check what the apartment is worth, and a building survey to check for any structural issues. Occasionally something might be discovered in

these that means the sale won’t go through. You could also get “gazumped” if someone offers a higher amount than you and the seller accepts their offer, or the seller could withdraw the property from sale. You could also have a problem with your mortgage application. Until the ink is on the contract you aren’t legally bound to the property. Try to take each step at a time. You should look forward to buying your property and not worry about things falling through.

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

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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

“The dog ate it!” Did anybody actually use this as an excuse for not having done their homework at school? Even as a young pupil I always thought this was a bit of a cliche. My most memorable excuse I made for not having done my homework was for commerce (which is now called business studies). If I’m honest it was the only subject I came anywhere near excelling at and so in order to try to protect my straight “A” form, I realised I was going to need something quite special to explain my lack of submission. This came in the form of the PE class an hour prior where I suggested to a friend he try to knock me out with his racket while playing badminton – a task he seemed to relish! It didn’t work and so I ended up running into a wooden door and pretending I’d been knocked unconscious and getting sent home. There’s more amusing detail to this story but thankfully (for my career) there’s just no space to fill you in. Like many things in my life, if I’d spent as much time in my academic endeavours as I did dreaming up desperate schemes, I might’ve had an easier run through my studies. This, in my defence was at least original. Today in business it seems that the “one size fits all” response is “coronavirus”. The amount of times I’ve heard this as an excuse for tardiness or plain lack of effort and enterprise is astounding. None more so than from estate agents. Now regular readers of these missives might recall me defending agents, as I believe much of their maligned reputation is at times due to misinformation – but today ladies and gentlemen I’m lowering my sights well and truly upon those that do the job, and I make a point of not calling it a profession. Estate agents at present are busy. The market has been unexpectedly buoyant and agents themselves have been rushed off their feet trying to arrange floods of viewings in admittedly a socially distant manner – in fairness quite extraordinary times. But this comes off the back of a summer of complete lockdown where many agents were looking at potential redundancy – and let’s not forget the economic outlook for next year. I for one believe in the old adage that you make hay while the sun shines, but has anyone tried to get hold of an estate agent after 5.30pm recently? My recent experience of selling properties has been mixed to say the least. At the good end of the scale, a Birmingham agent really impressed me even though the market didn’t react particularly well to the property. However, the professional approach and regular feedback from the agent gave me full confidence that they were making best endeavours on my behalf. At the other end of the scale, I’ve had to re-write some property particulars myself and even wait four days to receive the courtesy of a call back – “Sorry, because of Covid-19 we aren’t able to pick up the phone for at least three days!” Viewings are another point of contention. I fully understand the need for social distancing, but potential buyers still need to have someone who knows a property on hand to answer questions and maybe, dare I say it, attempt to actually sell the property! In the current market, it seems agents would much rather just put the instruction on a property portal like Rightmove and wait for the phone to ring, then arrange some viewings (unlock a door) and hope one of them turns into an offer. This is not estate agency. This process is more akin to administration and as much as it pains me to say it, as a vendor in the first time buyer market, I’d be tempted to use a do-it-yourself portal – which is something I thought I’d never say. Therein lies the problem for you as a buyer. I have previously recommended that you need to almost become friends with an estate agent in order for them to remember you when they take a property on their books. As things stand, you need to diarise a weekly call to find out what new stock is coming on. I’d do this on a Monday or Tuesday as most valuations are done at the weekend and instructions taken either on the day or the business days after. Become the thorn in the agents’ sides until you hopefully find what you’re looking for. With around eight qualified buyers per available shared ownership property (according to mortgage broker Censeo) you also need to do all you can to get ahead of the pack if you’re looking for shared ownership, just as you do with regular FTB properties.

First Time Buyer December 2020/January 2021

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FTB LOVES

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

London Calling

Ring ring! Your cookies are calling! Telephone boxes have become iconic and used to be on the corner of every London street, but now they are also the perfect place to store your delicious biscuits. The telephone cookie jar is on speed dial waiting for you to pick up and enjoy your favourite sweet treats. This fun ceramic jar is sure to set the (dial) tone of your kitchen. You don’t even need a spare 20p with this phone box, just pop the lid and get right to the snacks. Telephone Box Cookie Jar, Jar, £24.50, Red Candy redcandy.co.uk

x Tree Re with this sweet baby Spread some festive cheer kling lights, and dino light. Covered in twin presents in hand, with rf sca a wrapped up in cting some fun the dinosaur is perfect for inje able for indoor Suit lay. disp as into your Christm e a welcome mak n and outdoor use, it could eve is sure to it re whe , step t fron r addition to you delight passers-by. £39.95, George Christmas baby dino light, m a.co asd

Gift that keeps giving

Christmas is a time for giving, so why not treat yourself to a gift that keeps giving? We love the Advent of Change Calendar, which allows the magic of counting down the days to Christmas while you help change the world. Each of the 24 doors represents a donation to a different charity recipient and when you open it you will find out how your contribution could be used. The calendars are also eco-friendly, plastic-free, sustainable and recyclable. Charity Advent Calendar, £17.95, Advent of Change adventofchange.com

PEP&CO Affordable Homeware

Poundland launched its affordable contemporary homeware brand PEP&CO Home earlier this year across more than 800 stores. The brand is introducing a range of on-trend home decor pieces at affordable prices, with products starting from just £1. The selection includes photo frames, throws and cushions so you can redecorate your new home without breaking the bank. PEP&CO Home, from £1, Poundland poundland.co.uk

First Time Buyer December 2020/January 2021

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Homepage LIVING

A Berry Af fordable C hristmas

Christmas is a time to sparkle but your decorations don’t have to break the bank! We’ve rounded up some of our festive favourites for under £10 and £20, so your holiday can be on-trend and purse friendly

Red wood ‘Merry Christmas’ garland, £9.99, The Contemporary Home

Set of six Wooden Nutcracker tree ornaments, £13.99, Very Alphabet Light Baubles, £4, Marks and Spencer

Red balloon dog, £4, Paperchase

Stag bottle stopper, £6, Matalan

Tape Bauble, £2, George Home

Letters to Santa decoration, 80p, Primark

Und

£10

Fraser Fir real cut Christmas Tree, £29.99, Dobbies

Lacquered red glass bauble with raised gold stars, £3.99, The Contemporary Home

Stag bottle stopper, £6, Matalan

4ft Eiger Christmas tree, £18, B&Q

CO NTA CTS

» Argos argos.co.uk » B&Q diy.com » Dibor dibor.co.uk » Dobbies dobbies.com » George Home asda.com » John Lewis & Partners johnlewis.com » M&Co mandco.com » Marks and Spencer marksandspencer.com » Matalan matalan.co.uk » Namoh London namoh.co.uk » Paperchase paperchase.com » Primark primark.com » Rose & Grey roseandgrey.co.uk » Sainsbury’s Sainsburys.co.uk » The Contemporary Home tch.net » Very very.co.uk

First Time Buyer December 2020/January 2021

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Homepage LIVING 5ft metal space saving tree, £40; Aspen double bed frame, £199; Skandi light oak veneer bench, £70; Halden coffee table, £130; lamp, £8; sheepskin faux fur rug, £35; Estuary seagrass basket, £14; fleece reindeer bedding, £30; grey throw, £15; core basketweave cushion, £8; Nordic felt snowflakes, from £2; Nordic personalisation dec pack, £6; Nordic tree decorations, from £2; set of three Nordic wooden table top trees, £8; Nordic Caribou reindeer, from £4; Nordic felt pom-pom garland, £12; Nordic light-up table top star, £8; enchanted hanging glitter star, £1.50, Sainsbury’s Home

Roasting Chestnuts poster, £15, Namoh London

Under

£20

Gold beaded reindeer ornament, £8, George Home

Red velvet stocking, £18, John Lewis & Partners

Luxury winter red rose Christmas garland, £16, Dibor Red and gold Christmas cushion, £19.99, M&Co

Medium pink paper Christmas trees in three colours, £15, Rose & Grey

The new Nordic Red range captures the spirit of the season. Casserole dishes, from £35; trivet, £15; bowls, from £2; mugs, from £3.50; plates, from £2; set of four coasters, £8; set of three tea towels, £6; oven gloves, £5.50; cake tin, £7; rolling pin, £10; tree board £12; set of three cookie cutters, £4; enamel pie dishes, from £3.75; chopping board, enamel roasters, from £9, Argos Home

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First Time Buyer October/November 2020

Homepage LIVING

At home with:

Leah and Carl

Having renovated various homes, Leah and Carl are now working on their latest house, which they describe as their “forever home”. Learning along the way, they have done most of the work themselves even though they now have two children and both have full-on jobs. They talk to Lynda Clark and explain how it has all worked out, their experiences along the way and have some excellent advice for first time buyers FTB: Tell us how it all began? L&C: We were renting a flat back in 2007 when the financial crash was just starting. There was another flat in the same block, which had been repossessed and was being sold at a very reduced price, so we decided to take the plunge and buy it. The people who lived there before hadn’t done anything to it so we spruced it up and decorated it and after a year we sold it on for a profit and were able to get enough for a deposit on a larger property. FTB: What happened next? L&C: We bought a house this time and undertook more work. We took down the wall between the kitchen and dining room and opened up the space and installed a new kitchen. We decorated it throughout and as we had no children at the time it was fairly easy to undertake in our free time. We sold it on and moved into a larger detached house, which was actually a house swap. The lady who lived there wanted to downsize so swapping was the ideal solution. She had lived there for about 30 years and again had not done any work to it. We did just about everything you could possibly do and converted the garage, which

we partly used to make a large open-plan kitchen/diner/living space and in the other part we created an office. We had to knock down two load-bearing walls and install steel beams. Originally it had a galley kitchen with a separate dining room so we decided to open up the space, which worked really well. We also installed some lovely bi-fold doors to the garden and changed the roof on the conservatory. We fitted a new toilet, en suite and bathroom and installed new flooring throughout, plus all the decorating. The paint had hardly dried before the estate agent came around as we put it back on the market and it was a very quick sale. We got the asking price and sold it to the first people who viewed it. FTB: What was your next house like? L&C: By now we were really hooked and we decided to buy a bungalow. It had originally been bought by a property developer from an elderly person and had only really been half done but we saw the

potential in it. We decided that we wanted to do a loft conversion in order to get more rooms and so we created two more bedrooms and a bathroom on the first floor. We turned it from a two bedroom bungalow into a four bedroom chalet bungalow. We have a builder friend who helps us with the main structural work to ensure that it’s completely right and so that it meets building regs and gets signed off by building control. We are also very fortunate that one of Carl’s good friends is an architect who helps us with all the plans. We had our first daughter by this time and we were expecting another baby, so it was quite hard going but it was liveable and we coped. Once it was all finished we liked it but we never felt comfortable having the children sleep upstairs while we were downstairs and to be honest we were itching for another project. FTB: What was the next project like? L&C: We sold the bungalow and bought our current house which is definitely going to be our forever home. It ticks all the boxes and is our biggest project so far.

“WE SOLD THE BUNGALOW AND BOUGHT OUR CURRENT HOUSE WHICH IS DEFINITELY GOING TO BE OUR FOREVER HOME. IT TICKS ALL THE BOXES AND IS OUR BIGGEST PROJECT SO FAR” 14 First Time Buyer December 2020/January 2021

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Homepage LIVING

“TRY TO SAVE AS MUCH FOR YOUR DEPOSIT AS YOU POSSIBLY CAN. WHEN YOU VIEW A PROPERTY TRY TO IGNORE THE DECORATION BUT LOOK AT THE POTENTIAL SPACE YOU WOULD HAVE AND IMAGINE HOW IT COULD LOOK ONE DAY” It is a three bedroom detached house on a development – actually this is now our third house on this development as we really like this area. It has some excellent schools and is close to Ipswich which suits us really well. One of the best things about it is that it’s on a corner plot and so we’ve got lots of space. It’s also tucked away in a cul-de-sac so it’s very quiet. The decor, though, was hideous with the most awful tiles, wallpaper and flooring. Again, we wanted to create a large living space and as we have a nice big garden we could afford to build a good size extension at the back of the house without eating into the garden too much. We created a huge open-plan living area. To do this we actually had to take down the entire back of the house and put in some rather sizeable steel beams, which we’ve managed to hide within the existing ceiling and walls. We put in 6m wide triple track

sliding doors across the back of the house, and four rooflights so it’s a lovely light and airy space. We turned the garage into a playroom at the back and a study to the front. We also felt the hall was too dark and narrow so we moved the downstairs toilet, which was next to the front door, to make a large entrance hall with a glass room divider so that you can see into the new part of the house. The house has a Scandi vibe to it with lots of natural colours, wood, and greenery – it’s very modern but still homely of course. We have put a lot of photos of all our work on Instagram and we call ourselves @ourcornerofsuffolk FTB: What advice do you have for first time buyers? L&C: Try to save as much for your deposit as you possibly can. When you view a property try to ignore the decoration but

look at the potential space you would have and imagine how it could look one day. Try to have a go at things yourself – we taught ourselves and there are some really helpful videos on YouTube. You can build up your skills as you go along and if you are not happy with the work then you can always re-visit it. If you are undertaking a big project then make sure you sort everything out at start. Making changes along the way can be more difficult, problematic and therefore more expensive. Make sure everyone shares the same vision and discuss your plans in detail with the architect and the builder so they know what you want to achieve. @ourcornerofsuffolk

First Time Buyer December 2020/January 2021

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Homepage FIRST RUNG

The

HOUSE HUNTER

What we found… THE NEW NEIGHBOURHOOD East Wick & Sweetwater, east London

FROM £170,000*

THE LANDMARK DEVELOPMENT FROM £130,000*

Motion Waltham Forest, east London

This month, FTB goes on the hunt for a one bedroom home in east London with a terrace or garden, space for remote working and within a close commute to Canary Wharf

PROFILE

Name Janice Le, 29 Occupation Software consultant Maximum budget £350,000 Requirements A one bedroom apartment with some outdoor space and room for working from home. Preference for shops and cafes close by and an easy commute to the Docklands

What she wanted… I’ve been sharing with my sister for a good few years – renting her spare room – and we get on really well, but it’s time to move on! I’ve been dreaming of buying my own place for so long. I mostly work remotely from home, but I also visit my clients a lot and they’re mostly based in Canary Wharf and the surrounding areas, so I’d really like to be close to the Docklands. I love east London and this part of the city. There are great places to visit with family, cool places to eat out, and many great routes along the river for long runs, bike rides and Sunday walks. I’ll be happy if I have a few cafes and shops close by so that I can just pop out if I need anything. I was made redundant last year from a long-term job and am using the money I saved from my package as well as my ongoing savings. I have a deposit of around £25,000 and an overall budget of around £350,000.”

With iconic Queen Elizabeth Olympic Park as its backdrop, this London Olympics-legacy scheme will eventually provide 1,800 new homes. Bordering Hackney Wick and Stratford, the mixedtenure properties will range from apartments to townhouses, making it perfect for young professionals and families. Residents have top-class facilities on the doorstep, including community spaces, sports centres, Westfield shopping mall, beautiful parks, and pretty canal and riverside sights. Hackney Wick and Stratford can both be easily reached.

With views out over east London’s Lea Valley and towards the centre of the capital, these new apartments are superbly positioned for enjoying the best of the great local surroundings and city as a whole. The two and three bedroom properties here form part of a landmark development in Lea Bridge, home to a vast array of local amenities, shops, parks and great Zone 3 transport links. The properties are spacious, with an en suite to the master bedroom, and living room opening to private balcony or terrace. Residents also share a communal garden.

eastwickandsweetwater.co.uk

peabodysales.co.uk

*Based on a 40% share of the full market value of £425,000

*Based on a 25% share of the full market value of £520,000

What she thought… I love Hackney and have spent many a summer’s day in Victoria Park or hanging out with friends at the canalside cafes. This is a great location and an exciting project. Hackney and Stratford are so cool, and the cafes, art galleries, pubs, pop-ups and young, creative vibe make it a lovely place to be. The area has become so popular that I never thought I’d be able to afford to live here – so it’s great that shared ownership makes it accessible for normal people like me!”

These homes are just lovely, and there’s so much green space around. The communal garden would be really good on the days I’m working from home, as it’ll make it easy to take quick breaks and get some fresh air. It’s great that I could afford a two bedroom place here, meaning I can not only have an office, but I could have friends and family to stay in the spare room without any fuss at all. It is a little further away from my ideal location, but it’s still a hot contender.”

First Time Buyer December 2020/January 2021

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Homepage FIRST RUNG

THE SOUTH SIDE Valley House, Charlton Riverside, Greenwich

THE HISTORIC LOCATION FROM £92,500*

Traders’ Quarter at Royal Wharf, east London

FROM £130,625*

First choice! DER

THE WATERSIDE WON

Wharf Riverside at Royal Albert don Lon t eas n, Beckto

Set in a regeneration area by the Thames, the contemporary shared ownership one, two and three bedroom apartments at Valley House from Peabody are perfect for aspiring homeowners. Openplan kitchen/living/dining rooms are bright and airy, with goodsized balconies, and kitchens have integrated appliances. There are landscaped gardens and parking is available to some homes. Valley House is a three-minute walk from Charlton station, providing access to Greenwich, London Bridge and St Pancras. North Greenwich Station in 10 minutes by bike.

Royal Wharf will eventually be home to more than 3,000 new apartments, including the two and three bedroom properties at Traders’ Wharf. These light-filled, spacious homes have open-plan living/dining areas, oak wood flooring and private balconies. On-site facilities include cycle storage, underground parking and access to a clubhouse with swimming pool and gym. There’s plenty to explore in the area, with the Thames and green spaces within walking distance, while travel is easy from one of the two DLR stations located close by.

valleyhouse-se7.com

nghsales.co.uk

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

I lived in Greenwich when I first moved to London and will always have a soft spot for it – it’s a great place to live, and you can even walk or cycle to the Docklands from here. These apartments are beautiful, and it’s ideal that there’s a gym on site – this would be a good way to break up a work-from-home day. They also look spacious, with lots of natural light. I know I’d really enjoy inviting friends and family over to see the sights and go on some river walks.”

*Based on a 25% share of the full market value of £522,500

Wow, these apartments are really stylish – they’re so sleek and contemporary and it would be really fun putting my own unique stamp on it and making it my own. It’s a superb location, with the river and DLR really close by – I could be in Canary Wharf in mere moments from here. The views would be amazing, too. Having a gym and swimming pool on site means I can keep my fitness in check and will never have an excuse not to hit the gym again!”

FROM £107,500*

comprise nity, which will eventually A new waterside commu k in doc oric hist is coming to this over 1,000 new homes, Basin ert Alb the r ove out le views east London. With enviab is this an to Gallions Reach DLR, and beyond, and close to offer. the best that London has ideal spot for enjoying n-plan ope h wit ll thought out, Inside, the homes are we grated inte h wit s hen kitc ary fitted living areas, contempor ll-sized We s. dow win zed -gla ble appliances and large dou The ce. t private outdoor spa balconies provide perfec bars. lude retail units, cafes and inc also l development wil nhgsales.co.uk *Based on a 25% share of a full market value of £430,000

THE NEXT STEP

“The first thing to do is to get my trusted sister along to ask her opinion on the apartments and development as a whole. Once I have the seal of approval I’ll get things moving with a mortgage application!”

I am seriously impressed with this development and am so excited about living so close to the water. I have just got back into running and am already dreaming of long waterside jogs – I’d never get bored of those views. Location-wise, it’s great – it’s perfectly located for client visits in Canary Wharf, and it’s also so easy to get to the south of the river, where my sister lives. I really like the interiors, too. It’s so useful to get all of the kitchen appliances included, as I don’t currently have any of these things!“

First Time Buyer December 2020/January 2021

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ADVICE

James Munson has worked in the housing sector for the past 20 years across a range of roles covering sales and aftersales, customer care, communications, market research, business development, sector best practice and marketing and digital. At Notting Hill Genesis, one of the largest housing associations operating in the capital with over 66,000 homes owned or managed, James is Head of Marketing and supports delivery of an expansive, exciting and diverse new build sales programme

I’m currently renting in central London and want to buy. I would like to have extra space indoors and outdoors, to be able to work from home and have the option to get outside running, walking and cycling – weather permitting! I work in London and have many friends here too, so I would rather not have to move out of the city. As a first time buyer on a budget, is this realistic?

As a first time buyer, it’s great to hear that you are looking to buy a home in London. The capital is a truly great place to live and work, with plenty of opportunity to find a home that will suit both your needs and budget. The good news for first time buyers like yourself who have a budget to keep to, is that there are affordable homeownership schemes like London Help to Buy and shared ownership that will help you buy your first home, and as you are currently renting in London, you probably already have a good idea of how expensive it can be! With options like shared ownership, you may even be able to reduce your monthly outgoings, depending on the size of deposit you have available, and what type of property you are looking for. The current global pandemic has definitely given buyers time to consider the important features of a home in order to future-proof themselves against further lockdowns – and much like yourself, the top priorities are to have a form of outdoor space, an office or area to work from home, and a park or communal gardens where they can get outdoors for a walk, run or bike ride. Many homes are now a place that you do everything from, so versatility has become key. Health and wellbeing play an important part when planning new developments, and Notting Hill Genesis takes these considerations into account when designing new build homes, so you shouldn’t have too much difficulty finding somewhere that ticks your boxes. So, what should you do first? I would suggest you start with the Homes for

Londoners website at london.gov.uk, the official Mayor of London portal which features all available shared ownership homes in the capital and information about shared ownership. Also, sharetobuy.com is widely used by housing developers and offers some really useful content including an affordability calculator and product explainer videos. Ensuring you are equipped with all the information you need is really important should you find a property you like. Notting Hill Genesis is one of the largest providers of affordable housing in the UK, and we offer a wide selection of shared

James Munson, Head of Marketing, Notting Hill Genesis

ownership and Help to Buy properties across London; you can view these at nhgsales.com. For example, Heron Quarter at Woodberry Down in north east London, where we have just launched a superb new phase of one and two bedroom shared ownership homes, could well suit your budget. Heron Quarter at Woodberry Down is a fantastic option for first time buyers who are looking for a home that has everything. A high-quality spec, an outstanding setting, at an affordable price – and local transport connections makes travelling into central London very quick and easy.

FROM The wider Woodberry Down development is estimated to complete in 2035 and is set to form an exciting part of the regeneration of Hackney. A unique development, Woodberry Down is home to 15 acres of parkland and two former reservoirs, which are now sailing lakes. The scheme has been centred around nature and the new shared ownership offering, Heron Quarter by Notting Hill Genesis, further echoes this. A unique collection of one and two bedroom apartments, Heron Quarter at Woodberry Down faces the West Reservoir. Each apartment has been designed to create an inner London oasis, with modern open-plan layouts, ample storage, large windows and well-sized balconies, many of which benefit from spectacular views. The borough of Hackney will tick boxes for many, with a vibrant social scene and diverse dining Heron Quar ter at options, as well as a number of welcoming cafes Woodberry Down and bars located nearer to home. Woodberry Down also benefits from its own courtyard garden and the Woodberry Wetlands is just a stroll away. For shopping options, Harringay Green Lane’s Shopping City is around a 10-minute walk away, while Manor House station is just a two-minute walk providing a quick tube journey to the street food feasts and pop-up malls of Boxpark or to the West End. Heron Quarter offers endless opportunities to enjoy an active lifestyle both indoors or outdoors with a nearby 24-hour gym, water activities in the West Reservoir or swimming in the London Fields Lido.

£110,6

25*

nhgsales.com *based on 25% share with a full market value of £442,500 for a one bedroom apartment

First Time Buyer December June/July 2018 2020/January 2021

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THE VIEW

MR DIY! Craig Phillips is well known as a builder, DIY and property expert and has presented numerous television programmes including 60 Minute Makeover for ITV. He was the first winner on Big Brother in 2000 and has never looked back. He is now on the Channel 5 show How to Add 20k to Your Home and also produces how-to videos and teaches the basics of DIY at Mr and Mrs DIY on YouTube. He talks to Lynda Clark about his fascinating career, his dream home and how he sees the property market

"DURING THESE STRANGE TIMES, WE HAVEN’T BEEN ABLE TO GO ON HOLIDAY AND SO LOTS OF PEOPLE HAVE INVESTED THEIR MONEY IN A NEW KITCHEN OR BATHROOM. THEY ARE STAYING PUT AND DOING SOME FANTASTIC RENOVATIONS WHICH WILL, OF COURSE, ADD VALUE TO THEIR HOME TOO"

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THE VIEW

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THE VIEW

raig was born in Seaforth, Liverpool, in 1971, and grew up in an area near to the docks. He had a great childhood but when it came to school he really wasn’t the best of pupils. “When I was 13 I got a job in a butcher’s shop after school and on Saturdays and I absolutely loved it! I would race home and change out of my school clothes and run to the shop – I just couldn’t wait to get there. I used to scrub the blocks and on a Saturday, I made sausages and hamburgers – it was the best!” When he was 15, the school suggested that he work at the butcher's for three days a week and attend school on the other two days. It was the perfect scenario for him and apart from loving the work he was also earning some money so he could help his family out. “By the time I was 18 I was buying from the abattoir, managing two shops and doing the basic bookkeeping. It was quite a lot of responsibility but I thrived on it and it boosted my confidence no end and helped me to start my own business when I was only 19.” Craig very sadly lost his father to a drink driving accident when he was out walking the dog. His mother eventually met her new partner and the family moved to Newport in Shropshire where they ran a pub. Having always enjoyed building and renovation he started doing work on the pub and the customers were very impressed and began asking him to quote for doing work on their own homes. “It was amazing how it snowballed – I did a day release bricklaying apprenticeship and also did night classes in advanced brickwork and civil engineering. I qualified with a City & Guilds and decided to start my own company and

we were very busy and I had about 30 men working for me. “I was raising money for a great friend, Joanne Harris, who had Down’s Syndrome, as she urgently needed an operation, which had to be done in America as there was no funding in the UK for it. We did small things like charity runs and shaving our heads but we needed a lot more money than we could possibly make. I then happened to see a programme from the Netherlands about a reality TV show called Big Brother, which was coming to England. I thought that maybe if I applied I just might win and then we would have enough to help Joanne get the operation she desperately needed. I wrote to the production company asking if they would consider me and they came back and asked a little bit about me and then I didn’t hear anything! But after six months I had a call asking me to properly apply – that was quite intense with psychological tests and medical and police checks. Eventually nine days before the show started I was told I had got in. "It was really great news but quite hard as I had a big building project on the go and responsibilities. But I decided I would go into the House and amazingly I won! I gave the £70,000 prize money to Joanne but sadly by this stage she was too ill to travel but the money went into a trust fund. Joanne passed away in 2009, she had the best time as she became a celebrity in her own right – it was magical to see her having such a fun and exciting time. We worked hard to get Parliament to change the law so people in need of these types of operations could get it done in the UK and eventually the law was passed. I won the Great Scot Award in 2001 for the work I put in.” After Craig came out of Big Brother it was a whirlwind of events and appearances. “I was on the road for 97 days and it was really great and exciting but in the end, it all became a bit much. We would start at 7am doing radio, television, award ceremonies, charity events and photoshoots and although it was so flattering I did get very lonely. Staying in a different hotel every night and not seeing my family and friends was very hard.”

"LAURA HAS A FANTASTIC EYE FOR COLOUR AND DESIGN AND IS VERY ARTISTIC. I AM THE HANDS-ON MAN AND WE HAVE HAD AROUND 70,000 VIEWS AS PEOPLE REALLY LOVE TO LEARN NEW SKILLS" 22

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THE VIEW A true entrepreneur, Craig bought his first house, which was a complete wreck that he renovated, and because he loved it so much he carried on buying and renovating. His property portfolio was growing all the time. “When I wasn’t working I bought seriously run-down properties at auction. They were in a terrible state but it never daunted me – I just loved working on them and also it kept me up-to-date with all the new materials and health and safety regulations which are constantly coming out. I came out of Big Brother on 15 September 2000 and by 2 January 2001 I was presenting a great makeover show with Linda Robson called Renovation Street for Carlton ITV and was then brought in to be the DIY expert for the BBC. I worked on 60 Minute Makeover and I lost count of how many rooms I made over in the end – I think I did about 80 episodes.” Craig recently appeared on a new Channel 5 show, How to Add 20k to Your Home. Along with other property and interior experts, they presented a number of projects, including converting a garage into a bedroom or a cinema room, installing a home office in the garden, and creating an open-plan living space by knocking down walls between kitchens and sitting rooms. With each idea Craig explored the DIY route, working out how much the viewer could realistically do themselves to save money – and which bits they should leave to the professionals. During this year, Craig took part in a Smart Energy GB and Homebase campaign called "The Green Aisle" which helped people identify the ways to make their homes more energy efficient and greener. One of his top tips is to speak to your energy supplier about getting a smart meter installed. Not only do they help people manage their energy consumption at home, but on a national level, they help to upgrade Britain’s energy system to one that can help tackle the climate crisis and meet our net zero target. During lockdown, he has been enjoying spending time with his wife Laura and daughter Nelly in the dream home he designed and built. “It is really different and a very unusual shape and size. I found a plot of land which was big enough for what I wanted and it ticked all the boxes. When I bought my first house I had certain criteria and 25 years later it is just the same. I wanted it to be detached with boundary fences and trees, have a driveway and space for a workshop. "There were actually two detached houses on the land with two garages when I bought it and I re-designed it and got planning to build one big house on the same footprint and then to add a bit extra. It took over two years to get it through

"I FOUND A PLOT OF LAND WHICH WAS BIG ENOUGH FOR WHAT I WANTED AND IT TICKED ALL THE BOXES. WHEN I BOUGHT MY FIRST HOUSE I HAD CERTAIN CRITERIA AND 25 YEARS LATER IT IS JUST THE SAME"

and before we could start digging out the foundations. There has been some snagging I needed to do on it and lockdown was the perfect opportunity to get stuck in. At one point, I was working on it for 100 hours a week so I actually enjoyed taking some time out and recharging the batteries.” Craig and his wife Laura also produce films on their YouTube channel called Mr and Mrs DIY. “Laura has a fantastic eye for colour and design and is very artistic. I am the hands-on man and we have had around 70,000 views as people really love to learn new skills. They are educational but in a fun and practical way, so they are easy to watch. “Buying your first home is the biggest investment you will ever make but it is becoming harder and harder to move up the ladder. My niece bought a starter home for £124,000 and we all chipped in to help with the deposit, which is often the hardest hurdle to get over. She said to me at the time that this was going to be her forever home but I had heard that before and doubted it would be. People grow out of their homes and she now has two children and needs more space. They converted the garage into a large kitchen/diner but they still wanted to move. With the way things are it’s tough and she couldn’t see a way of buying a bigger place so we had to come up with a plan B. They are going to have a double extension which will create a utility room and extend the sitting room. It will

make all the difference and I am sure they will love the end result. Many people these days are doing more to their existing homes and there is a big trend for things like loft conversations or creating extensions. During these strange times, we haven’t been able to go on holiday and so lots of people have invested their money in a new kitchen or bathroom. They are staying put and doing some fantastic renovations which will, of course, add value to their home too.” Craig is one of the easiest people to talk to and as we finish our chat I hear his dog barking. “Ah that's Sydney, our French Bulldog. She is a girl but has a boy’s name and there is a story behind that. Laura and I went on an incredible tour of Asia and Australia and when we climbed the Sydney Harbour Bridge I got down on one knee and asked her to marry me. We both love Boxer dogs but they can be quite a handful so I bought Laura a French Bulldog as a wedding present and of course we called her Sydney.” With a new baby due at the end of the year, Craig has his dream home and his dream family – he has worked so hard and helped so many people along the way, quite honestly, I think he deserves the best life ever and I think he has got it! craigphillips.co.uk Follow Craig Phillips on Instagram @craigbigbro1

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UK HOTSPOTS

Wish you were here...

Coronavirus may have put a stop to most of our plans this year but the slower pace of life has also provided an opportunity to reflect on our lives and to make plans. For many, this means a much-needed change of scenery! Debbie Clark has explored some of our favourite property hotspots – from Greater Manchester in the North West, to Bexhill-on-Sea on the South Coast and everywhere in between – to help you to find your ideal home. There are some great new developments available and, with the Stamp Duty holiday making it more affordable than ever, now could be the perfect time to take the first step towards a more positive 2021

ster Greater Manche

POSTCARD With a population of 2.8 mill ion, Greater Manchester is the third larg est county in the country and encompasse s 10 boroughs: Bolton, Bury, Oldham, Roc hdale, Stockport, Tameside, Trafford,Wigan, and the cities of Manchester and Salford, each with their own unique character. Gre ater Manchester as a whole is characterised by urban and industrial development. There is a solid transport infrastructure including rail, trams, mot orways and canals, but the area also ben efits from convenient access to the countryside, with the Pennines to the north and east of the county, the West Pen nine Moors in the north west, the South Pennines in the

NEW ISLINGTON, MANCHESTER

north east, the Peak District in the east and Cheshire Plai n to the south. Manchester city centre is the heart of Greater Manchester and in addition to being an incredible city to shop and socialise in, it is also hom e to lots of stylish high-rise apartments if city life appeals. Nearby, Salford has some of the tallest tower block estates in Eur ope. Throughout the county, rows of terraced houses are common – think Coronation Street – and there are many commuter towns offering affordable family homes. Whatever your requirements, you are sure to find a place to call home in this welcomi ng county.

CHADDERTON, OLDHAM Radclyffe Gardens

Piercy Street

This exclusive development of just four, four bedroom townhouses is set aside FROM specifically for shared £155,750* ownership. The beautiful canal-side homes, which feature 1,500 sq ft of living space, overlook Ashton canal and are located just over a 10-minute walk from the trendy Northern Quarter. The area offers great transport links including the New Islington Metrolink stop, just a few minutes’ walk away, and Piccadilly railway station only a 10-minute stroll along the canal. Piercy Street is also within easy reach of the Manchester ring road, linking to the M60 which connects to all major motorway networks across the North and beyond.

Off-plan reservations are now being taken for this collection of two to four bedroom homes; part FROM of a larger Countryside £ 6 5,100* development. The development has excellent transport links with good motorway connections and public transport options. Beyond the standard conveniences, Chadderton boasts several local parks and beautiful woodland walks, perfect for a family day out. The area is becoming a popular place to settle down and will be further enhanced by the ongoing £100m Broadway Green regeneration scheme, which will provide more than 600,000 sq ft of employment space and up to 500 new homes once complete.

plumlife.co.uk/development/piercy-street 0161 447 5050

plumlife.co.uk/development/radclyffe-gardens 0161 447 5050

*Based on a 35% share of the full market value of £445,000

*Based on a 35% share of the full market value of £186,000

First Time Buyer December 2020/January 2021

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UK HOTSPOTS

Liverpool

POSTCARD With some of the lowest hou se prices of any UK city, Liverpool is a great location for first time buyers looking for stylish city living at a reasonable pric e. Situated on the Liverpool Bay of the Irish Sea, it has been described as having “the most splendid setting of any English city ”. Regeneration has been a huge focus for the city and Liverpool boasts a number of impressive accolades, highlighting its universal appeal. The city is renowned for its nightlife and is also a shopper’s paradise . Transport links in and arou nd the city are excellent; there are Mer seyrail services to the suburbs every 15 min utes, an

SOUTH LIVERPOOL

excellent bus network and a ferry service to the Wirral. It is easy to get further afie ld too; the city is served by the M62 , M1 and M6 motorways offering easy access to neighbouring cities and bey ond and rail links are excellent, with a Pendolino service to London taking just over two hours. There is a great vari ety of homes in and around the city, from waterfront living at Albert Dock to tradition al Victorian terraces, and properties rem ain largely affordable for first time buy ers. Plenty of new homes are being buil t so there is ample choice when house hunting.

LIVERPOOL Sundial Place

Alexandra Court Located in the leafy suburb of Aigburth, this unique development of 14 new one and two bedroom FROM apartments is built within £50,000* a stunning Victorian villa. The apartments are built to a high specification and include flooring throughout and integrated appliances. The development is situated close to Lark Lane, a hub for independent shops, cafes, restaurants, and bars. Sefton Park, one of Liverpool’s largest and most beautiful green spaces, is also less than a five-minute walk away. The area benefits from frequent bus services to help you get around the city with ease.

Sundial Place from Barratt Homes is based on Lydiate Lane in Thornton, and offers two, three and four bedroom homes. The FROM nearest supermarket is 1.5 £185,000 miles away, and it is only a short drive away from Liverpool city centre and Crosby beach. The three bedroom Norbury style home is spread over three floors, offering space and flexibility for a growing family. The open-plan living/ dining room features French doors opening on to a rear garden. The two double bedrooms and family bathroom are on the first floor while the main bedroom and en suite are on the second floor. The house also comes with a double parking space.

onward-living.co.uk/development/alexandra-court 0151 708 2421

barratthomes.co.uk/new-homes/merseyside/h791001-sundial-place 0333 455 3073

*Based on a 40% share of the full market value of £125,000

POSTCARD has come a long England’s second city and has deservedly way in the last decade tination for buyers des le irab des a e om bec life without the city of z buz the looking for gham has the min Bir es. pric capital’s hefty city (over 500!), an ope most parks of any Eur ger than Venice’s big is tem sys al can the helin-starred and there are more Mic ere in the country wh any n restaurants tha outside of London. to tempt As if that wasn’t enough ed here and ent inv was ti Bal the foodies, ry restaurants in there are plenty of cur get a taste for it. "the Balti Triangle" to inistration and health Education, public adm in Birmingham; ries ust ind in ma are the s and two large sitie ver uni there are five

the city. conference centres in nected Birmingham is well con It is served by the d. roa and rail h bot by 2 motorways and is M5, M6, M40 and M4 ghetti Junction. Spa ous home to the fam station is the eet Birmingham New Str side of London and out UK the in iest bus s to London, Glasgow offers regular service . and Edinburgh from a large As you would expect iety of properties var e hug a is re the , city can vary quite to explore. The prices areas so it is worth n wee bet considerably Many first time y. ghl researching thorou close to the city centre ve mo to k loo ers buy efits of the city’s to really reap the ben ng and nightlife. ppi sho s, transport link

Birmingham

FIND OUT WHAT YOU CAN BUY IN BIRMINGHAM >>> First Time Buyer December 2020/January 2021

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UK HOTSPOTS

BIRMINGHAM Bristol Street

KING'S NORTON

Due to launch this winter is a collection of 26 new shared ownership homes on the southern edge of Birmingham city centre. The development FROM comprises 20 one and two £45,750* bedroom apartments, with an additional six three bedroom houses due to launch in the new year. There are excellent public transport links nearby, so the development is ideally situated for buyers planning to commute into the city centre. Frequent buses run along Bristol Street and Belgrave Middleway (A4540), which allow easy access to the rest of the city and the wider Midlands. Limited allocated parking is also available for the houses.

The Oaks is a development of two, three and four bedroom homes located FROM in King’s Norton. Local £235,495 amenities in the town include a supermarket, local stores and restaurants with Birmingham City Centre just seven miles, or a 15-minute train journey, away. There is a range of styles of property available, all offering gardens and garages or allocated parking. Families at The Oaks will benefit from several well-regarded local schools, with three popular primary schools less than a mile away. King’s Norton Park is nearby and there are plenty of walks to be enjoyed along the canal towpaths.

optivosales.co.uk/bristol-street Call Angela at Optivo Sales: 07903 348 933 / 0800 012 1442

bellway.co.uk/new-homes/west-midlands/the-oaks 0121 756 8677

The Oaks

*Based on a 25% share of the full market value of £183,000

Muswell Hill

POSTCARD The urban village of Muswell Hill, situated between East Finchley and Crouch End, centres on the Broadway and is split between the London boroughs of Haringey and Barnet. Muswell Hill was mainly developed between 1896 and 1914, and is principally the work of builders James Edmondson and William Jefferies Collins. The mainly

Edwardian suburb has managed to maintain its historic character which gives it a unique charm. Residents benefit from excellent school s and a range of green spaces including Alexandra Park and Highgate Woods. While Muswell Hill is not directly served by a tube or railway stat ion, an excellent bus service connects it to local stations in addition to offering direct connections to the City of London and the West End. Property in Muswe ll Hill does not come cheap so it is wor th exploring the options, including Hel p to Buy and shared ownership, to enable you to get a foot on the ladder.

ALEXANDRA PALACE

WOOD GREEN

For those longing for the comfort of a village with all the FROM benefits of city life, £TBC Catalyst is launching this development close to Coppetts Wood, a historic 36-acre conservation site. The Folium has been designed to celebrate the green setting, incorporating mature trees, green spaces and planting. Homes are built to a high standard, with fully integrated appliances and underfloor heating. Almost all homes offer a private balcony or terrace. Muswell Hill has good bus connections, with the W7 taking commuters to Finsbury Park, where there are tube and train services into central London. Nearby Alexandra Palace train station also provides a train service into Moorgate in just 20 minutes. The collection of 59 one to three bedroom apartments are available to purchase through shared ownership.

Clarendon is a major regeneration scheme and will provide FROM more than 1,700 £404,790 new apartments once complete. St William, part of Berkeley Group, offers a range of one, two and three bedroom homes with Help to Buy available on selected properties. Facilities include a concierge, gymnasium, private courtyards and residents’ lounge, with a swimming pool, spa and sauna to be added in the latter phases. Interiors are focused on modern living, with luxury touches including geometric tiling, bespoke kitchen ironmongery and sleek kitchen cabinets. The development’s convenient location between four Zone 3 stations – Wood Green, Turnpike Lane, Hornsey and Alexandra Palace – means King’s Cross, Moorgate, Islington and Old Street can all be reached in 20 minutes.

catalyst.homes/development/the-folium 020 8131 8094

berkeleygroup.co.uk/developments/london/haringey/clarendon 020 3797 0226

The Folium

Clarendon

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UK HOTSPOTS

POSTCARD

Wimbledon

Wimbledon is one of south west London’s most popular places to live, but is out of reach for many first tim e buyers due to the high property pric es. As a result, when the opportunity arises to move to the area with the support of Hel p to Buy or shared ownership, properties are snapped up. Wimbledon is split bet ween two main areas – Wimbledon Vill age and the town, with the village comma nding the highest prices. Wimbledon stat ion, in Zone 3, is a National Rail, tube (Di strict Line) and Tramlink hub. The trai n to Waterloo takes just 17 minutes and the trams link the town

WIMBLEDON The Switch

Launching this winter, The Switch is a luxurious collection of 181 studios, one FROM to three bedroom £77,500* apartments and two and three bedroom duplexes, all with premium fittings and finishings throughout. The development is part of a joint venture with Galliard Homes, and will offer over 600 new homes alongside a new stadium for AFC Wimbledon. Nearby Garratt Lane offers a great selection of shops, bars and restaurants, and green spaces are plentiful with Wandle Meadow Nature Park, Wimbledon Park and Wimbledon Common all nearby. Tooting Broadway tube station is within walking distance, offering direct routes to London Bridge and King’s Cross. You can also take the District Line from nearby Wimbledon Park and take the Overground from Earlsfield Station to London Waterloo. catalyst.homes/development/the-switch 020 8131 8371

to Croydon. The A3 is just five minutes’ drive away. It is perhaps not surpris ing that the town is so popular with fam ilies priced out of the capital given its clos e proximity to the city, its abundance of green spaces and its reputation for excelle nt schools. It also has a strong rep utation for sport, not least tennis of course! If you are fortunate enough to buy in the area, many residents choose to relocate for the fortnight the tennis cha mpionships are in full swing, capitalising on the high demand for accommodation!

COLLIERS WOOD, SW19

Bramah Court, Breakspear Gardens

FROM

Adjacent to Myrna £122,500* Road nature reserve, these two and three bedroom apartments from Clarion are available through shared ownership. With great local amenities and transport connections, Colliers Wood Tube is a short walk away, they offer the very best of urban living. The apartments feature high-spec interiors and bright open-plan living spaces with integrated appliances in the kitchen and large balconies. leaders.co.uk/property-for-sale/SDO200476 02380 820 121 *Based on a 25% share with a full market value of £490,000

*Based on a 25% share of the full market value of £310,000

Rochester

POSTCARD What first strikes most visitors about Rochester is how bea utiful it is. This historic town in Medway, Ken t, was cherished by Charles Dickens and for very good reason. Its famous buildings inc lude the Norman Rochester Castle and Rochester Cathedral, the second oldest in Bri tain, which overlook the River Medway. Residents can follow in Dickens’ footsteps, enjoying bot h the architecture and fantastic high stre et which benefits from an impressive ran ge of independent shops and eateries. Loc ated around 30 miles from London, the town has excellent transport links with trai ns to London Victoria every 15-20 min utes, taking 45

minutes to an hour. The re are also fast, regular service s to London St Pancras (40 minutes), Charing Cross (1hr 15 minutes) and Canterb ury (50 minutes). Rochester boasts an exc ellent choice of schools rated Good or Outstanding by Ofsted, including stat e, grammar and independent schools. Period properties in the town are plentiful, including Georgian and Victorian houses full of character and some really classy conversions. The suburbs particularly are home to a plethora of beautiful family hom es at surprisingly affordable prices. Imp ressive new build homes in the town are a perfect first step on to the ladder.

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UK HOTSPOTS

FROM £297,500

ROCHESTER

Rochester Riverside

Countryside and Hyde’s landmark regeneration scheme is designed to suit a range of buyers, creating a mixed and vibrant new community. This impressive development is comprised of 1,400 one and two bedroom apartments and two, three and four bedroom houses. Residents at Rochester Riverside will benefit from views of the River Medway and Rochester Castle and amenities which will continue to grow in this evolving neighbourhood. A hotel has already opened, along with a new Co-op supermarket and Costa Coffee. There will also be a new primary school, nursery, play area and 2.5km river walkway; perfect for growing families. Help to Buy is available. CASE STUDY – ROCHESTER RIVERSIDE

countrysideproperties.com/all-developments/kent/rochester-riverside 01634 560 482

ROCHESTER

Edenwood at Temple Wharf

FROM £46,875*

There are 34 new homes available in the established community of Temple Wharf, with a choice of one and two bedroom apartments all featuring high specification interiors with traditional facades from Redrow’s Heritage Collection. All properties benefit from outside space, with a decked balcony or paved terrace to all apartments. Conveniently, off-street allocated parking space(s) are included with all properties. The development offers buyers the promise of a great worklife balance, where the relaxing natural environment seamlessly meets the convenience of easy access to the town and fast transport connections. There are four supermarkets within a 10-minute drive from Edenwood, while Strood High Street, the train station and Strood Retail Park are a short drive away. optivosales.co.uk/edenwood-temple-wharf Call Rohel at Optivo Sales: 07790 352 155 / 0800 012 1442 *Based on a 25% share with a full market value of £187,500

Bexhill-on-Sea

POSTCARD

As the name suggests, this East Sus sex town is located right on the coast, and who doesn’t want to be beside the seaside? The town has everything you would expect from a British seaside town including a bustling hig h street, an impressive range of leisure and arts facilities, plenty of open green spaces and , of course, beautiful beaches. It is also the birt hplace of British Motor Racing; the 8th Earl De La Warr offered his seafront estate on whi ch to host the first International Motor Rac e Meeting in the UK in 1902. The aptly nam ed De La Warr

Pavilion now provides quality year-round entertainment in the tow n. Located between Hasting s and Eastbourne, Bexhill-on -Sea is a destination in its own right but is see mingly one of the bestkept secrets on the Sou th Coast. Bexhill has more than its fair share of facilities, including a sailing club, rowing club , a leisure centre, indoor pool, tennis cou rts, bowling clubs and two of the finest golf courses in Sussex. Residents can also enj oy the facilities of the town’s better-known nei ghbours without the hustle and bustle on their doorstep. The property market is varied, with homes catering to every budget and taste.

Nadia Mitchell purchased her first home at Rochester Riverside aged just 24, having seen first-hand how happy her sister was living there. Nadia said, “I’ve always been very independent, so purchasing my own home was something I’ve wanted to do for ages. I spent the last 11 months saving from my salary, and when the opportunity came to work in Rochester, thanks to Help to Buy and help from my parents, it was a no-brainer to purchase my first home here! With my sister being here as well, it was a bonus, as I already knew the development from coming to visit her and now I get to have my family on my doorstep.” All her hard work has paid off as Nadia is now reaping the benefits. In London, she was spending £650 a month on rent with bills on top. Now, her mortgage is £550 and her bills are lower too. While Nadia doesn’t need to commute, she still benefits from easy access to the capital. She said, “I still live the same life I lived in London except I now own my property in a beautiful location. I’m only a little over a half-hour train away from London which means I can still do everything I used to do, like meet my friends at Westfield, go shopping and go out in Shoreditch”. Nadia is also making the most of Rochester Riverside’s location, “Being able to walk along the river every day is amazing. The water makes everything seem so peaceful, and there are so many different types of wildlife, like seals and swans.” Nadia’s apartment even boasts views of Rochester Castle and Cathedral, “so I get to wake up to amazing views every morning and watch the sun go down from my balcony every night”, she added. It doesn’t get much better than that. countrysideproperties.com

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UK HOTSPOTS

FROM £309,995

BEXHILL-ON-SEA Rosewood Park

Phase 3 of the popular Rosewood Park has recently launched with a total of 150 new three, four and five bedroom homes, some available through shared ownership. David Wilson Homes also offers a range of exclusive schemes to help ease the stress of moving home – including an NHS Deposit Contribution Scheme, whereby all NHS employees can receive a 5% deposit contribution (up to £15,000) towards their new home. The homes are situated in a parkland setting with a beautiful tree-lined boulevard and surrounding retained trees. They have desirable open-plan layouts, good sized bedrooms and landscaped gardens. The beach is only a short walk away, along a public footpath.

BEXHILL

FROM £48,000*

Preston Hall Farm Sidley, a village on the outskirts of Bexhill-on-Sea, is home to the Preston Hall Farm development. There are 21 new homes available through shared ownership including a selection of one, two and three bedroom homes within the larger 139-home Persimmon development. Parking is plentiful; all apartments are allocated a space and the semi-detached houses benefit from two. optivosales.co.uk/preston-hall-farm Call Rohel at Optivo Sales: 07790 352155 / 0800 012 1442

dwh.co.uk/new-homes/east-sussex/h747501-rosewood-park 0333 355 8503

*Based on a 30% share with a full market value of £160,000

CASE STUDY – BEACON PLACE

To buy a home in their home village of Catterall, near Preston, Lancashire was nothing but a pipe dream for Jess and her partner Gavin. But when Beacon Place started to take shape in the leafy suburb, everything changed The pair, both 26, and their young daughter, were in rented accommodation thinking that they would never be able to afford a house in their home village of Catterall. Jess, a part-time receptionist and Gavin, a painter and decorator, wanted to stay in Catterall, but with high property prices, saving for a large deposit was proving difficult. Jess said, “We were looking for about a year but the deposit we needed to buy outright was too expensive. But when we saw the Plumlife hoardings go up at Beacon Place we had a look at the website and we started to look at the options we thought we might be able to afford to buy. We were very excited about the shared ownership option as it meant that we could actually afford a deposit and step on to the property ladder. We did our research into shared ownership and soon realised that owning our own home was a real possibility.” When the pair visited the show home, it was the confirmation they needed that Beacon Place was somewhere they could call home. “The show home was stunning. It's one thing looking at plans, but it’s another to see how our home really could look. It gave us the confidence that we were doing the right thing. It’s fantastic to finally own our own home. We’ve wanted it for such a long time; it’s very surreal to think that we have finally made it. We never thought we could have a home like this. We have three bedrooms and with one child and one on the way, this will be our forever home. The house is beautifully finished and I can’t see us moving from here. It has everything we could ever want. “We bought 50% of our property and we can buy more when we can afford it. It’s in the ideal location and it’s perfect for our growing family.” Jess had nothing but positive things to say about the shared ownership scheme, she said, “It was perfect for us. I know that there are a lot of schemes out there and it can be quite confusing finding the right one, but shared ownership really helped us, allowing us to have a low deposit. I know it can help many other first time buyers like us, I would recommend it to anyone.” plumlife.co.uk

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SHARED OWNERSHIP

EXPERT COMMENT Coronavirus has had an impact on all aspects of the housing market. The removal of many mortgage products has drastically reduced the

The Government has announced some major changes to the way that shared ownership will work from April 2021. Kay Hill looks at what is changing and how it will affect buyers

borrowing opportunities and could price out many aspiring homeowners. This means products such as shared ownership are of greater importance than ever, especially at a time when many people will be affected by the economic downturn. As a result, we expect an increase in people turning to schemes such as this, which provides a very affordable route to

The Housing Secretary Robert Jenrick recently unveiled the Government’s £11.5bn Affordable Homes Programme which aims to deliver 180,000 new places to live across the country over the next five years, including homes for outright sale, shared ownership, affordable rent and social rent. Alongside this announcement came some significant changes to the way that most shared ownership schemes will work from April next year. Nothing will change for existing shared owners, nor for anyone who uses the scheme to take a first step towards homeownership before the end of March; but after that date a new “standard model” will apply to all new shared ownership schemes being delivered using Government grand funding.

Under this new model, things will change in a number of ways:  The initial minimum purchase amount will be reduced to 10% of the total value of the home  Gradual staircasing of 1% a year for 15 years will be introduced with greatly reduced fees  Shared owners will not be responsible for maintenance and repairs on the property for 10 years  Owners can sell their share on the open market more easily  A Right to Shared Ownership will be introduced for people renting through the Affordable Homes Programme So let’s have a look at each of these changes to the scheme in greater detail to see how it will affect those using the scheme.

homeownership for those struggling to save. Abri welcomes proposals that look to help support people into homeownership, which should enable hundreds more aspiring homebuyers to do so. Now, housing providers like Abri have a bigger role to play than ever. We’re looking forward to working with the Government on developing these proposals to work for our buyers in practice. Stuart Hensby Associate Director, Sales & Marketing, Abri Group (formerly Radian)

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SHARED OWNERSHIP MINIMUM PURCHASE At the moment, the minimum initial share is 25% of the value of the property – but with increasing house prices this is still out of reach for many. The Government estimates that by reducing the minimum purchase to just 10%, an additional 300,000 households will be able to use the scheme. According to Jenrick, “Reducing the minimum initial share will allow people to access shared ownership with a lower deposit and, in many cases, it will mean that their combined rent and mortgage costs will be lower.”

STAIRCASING Currently, shared owners wanting to staircase towards full ownership usually have to buy at least 10% at a time – and each additional purchase requires an expensive revaluation of the property and legal fees. In addition, because 10% is quite a large amount of money, it usually requires adding to the mortgage which can also incur a variety of fees from lenders. Under the new model, shared owners will be able to buy 1% each year, for up to 15 years, without needing to pay for a surveyor to carry out a valuation. Instead, the price of each 1% share will be based on an estimated valuation linked to the original purchase price, adjusted each year in line with House Price Inflation. Housing associations will also be banned from charging administration fees on staircasing in this way. The existing staircasing option will remain – a valuation will be required, but the minimum additional share will be reduced from 10% to 5% in a single transaction.

REPAIRS This was the surprise announcement, that all shared ownership buyers will have a 10-year, repair-free period. At present, even if a shared owner has only bought 25% of the leasehold to the property, they are regarded as having the responsibility of a full leaseholder when it comes to repairs – so they are obliged to pay for all the general repairs and maintenance of their individual home themselves, and pay via the service charge for repairs that are the responsibility of the freeholder (such as the roof and communal areas of an apartment block and major repairs such as removing dangerous cladding from the exterior). According to the Government, “We are introducing a new 10-year, repairfree period, during which the costs of any maintenance or repairs will be met by the landlord rather than the shared owner. Shared owners, like other homeowners,

are currently responsible for all of the maintenance of their property and contribute towards the full cost of any repairs from day one. This means that those starting off with a small stake can be left with large bills. For most people entering into shared ownership, the scheme serves as a first step on their journey as homeowners. The new repairs model will better bridge the gap between renting and homeownership. The changes will prevent new shared owners being hit with repairs and maintenance bills and better support them to put money aside towards buying more of their home.” There are many aspects of this new policy that haven’t been fully detailed yet – not least of which is clarifying exactly what constitutes repairs and maintenance, and whether there is anything to prevent a shared ownership provider from simply vastly increasing service charges to pay for it. Housing associations have many questions about how it will work – will it mean that they have to paint and decorate, and will they have the right of inspection or entry to homes to carry out necessary repairs? Will they receive additional Government subsidy to fund the scheme, or will they have to make savings elsewhere? On the face of it, however, it seems like extremely good news for shared ownership buyers who will have less to worry about, and time to adapt to their responsibilities.

able to staircase to full homeownership, mainly Older People’s Shared Ownership and homes in Designated Areas, where occupants will only be allowed to own a maximum of 80% to ensure that scarce housing stock remains. However, all future shared ownership homes delivered with grant funding, or through section 106 planning agreements on affordable housing, will be expected to use this new standard model, which the Government believes should encourage lenders to have more confidence in the scheme and so increase the range of mortgage products that are available.

EXPERT COMMENT As one of the UK’s leading housing providers, we welcome any new scheme which creates more affordable housing. However, as it currently stands, these proposals are likely to reduce our ability to provide the financial plan capacity to deliver the same output of affordable housing, unless further funding or grants become available. We will need to reassess our offering to work

SELLING YOUR HOME

within the parameters of the scheme

At present, if you want to sell your share of a home, you must give the housing association the right to market the property exclusively for eight weeks. Only if the organisation cannot find a buyer in that time are you allowed to use an ordinary estate agent or sell privately. According to the new rules, “The new model will give shared owners the option to end the eightweek period at the four-week mark if they would prefer to pursue an open market sale, giving them greater power and influence over the resale process.”

are causing us concern. For example,

but there are certain elements which the reduction in first tranche to 10% could be creating a sub-prime sector, with purchasers raising this small initial investment through unconventional borrowing but being unable to sustain their ownership. For the purchasers, not having to pay for repairs will be a genuine saving, but in effect creates a new type of tenure with split responsibilities between resident and the registered provider as freeholder which could become legally muddled. Overall, there are several grey areas

RIGHT TO SHARED OWNERSHIP

in this scheme which we hope will

This means that those who move into homes created by the Affordable Homes Programme as tenants will have the right to use the shared ownership scheme at a later date. They will have to meet the usual income criteria and have been a social tenant for at least three years, 12 months in the current property. There are some shared ownership properties which won’t be entirely subject to the new rules. For example, the Government decided to maintain some instances where shared owners won’t be

and technical consultation is released.

be clarified once the proposed lease Once that is done, we can then look at how we continue to provide the best shared ownership properties for our customers. Maggie McCann Director of Regeneration and Partnerships, Orbit Homes

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LOCATION

HOTspot Brighton (and Hove, actually!)

5 REASONS WE LOVE…BRIGHTON

1. Its diversity and inclusiveness 2. The Lanes for shopping 3. The beach huts in Hove 4. All the amazing food and drink 5. The Pier (and the 2p machines!)

When Hove residents were asked if they lived in Brighton, they would traditionally respond with “Hove, actually”, in a humorous bid to distinguish themselves from their noisier neighbours. So popular was this phrase that it even became a slogan for Hove’s 1990s tourism campaign. However, as we will come to discover, these twin towns both have a lot to offer potential residents UNDER THE SPOTLIGHT

Brighton and Hove lie between the South Downs and the English Channel, almost 50 miles from London. The neighbouring towns formed a unitary authority in 1997, before being granted city status by Queen Elizabeth II as part of the millennium celebrations. At the last census, the city was the largest in South East England and now has a population of around 290,000. Brighton’s history dates as far back as 3500BC but it was really the arrival of the London and Brighton Railway in 1841 which brought the town within easy reach of London and allowed it to flourish. The population grew from around 7,000 in 1801 to more than 120,000 by 1901. Many attractions were built during the Victorian era, including the Grand Hotel, the West Pier and the Palace Pier. The town continued to expand and by the 1970s, had acquired a reputation as a retirement destination. However, in the 1990s, gentrification saw Brighton regain its fashionable status. Today, Brighton is a popular destination for tourists and is known as the UK’s unofficial “gay capital” due its large LGBTQ+ community. It is famous for its quirky shops, vibrant arts scene and, of course, its extensive beaches. Brighton has excellent transport links. Frequent trains operate from Brighton railway station to London Victoria, London Bridge and St Pancras International allowing residents to easily commute to work in London in under an hour. There are also regular services

to Hove, Worthing, Portsmouth, Southampton, Lewes, Newhaven, Eastbourne and Hastings. Hove has three railway stations, one with direct access to the Brighton main line without going through Brighton, meaning a London commute takes just over an hour. Buses are plentiful. For drivers, Brighton is connected to the trunk road network by the A23 northwards, and by the A259 along the coast and the A27 inland. The A23 joins the M23 motorway near Gatwick Airport. Parking is at a premium in the town so be sure to look for property with its own parking space if this is important to you. The city’s demographic is increasingly young professionals, with employment rates growing steadily. Compared to the national average, Brighton and Hove has a large proportion of adults aged 20-44, with fewer children and older residents. The city also has the highest percentage of same-sex households in the UK. Brighton is identified as one of the least religious places in the UK. However, in the 2001 census, a higher percentage of residents identified their religion as "Jedi" than anywhere else, so The Force is strong! Prices are high, particularly in the centre, but there's a huge range of property, and plenty of options to benefit from Government schemes and house builder incentives.

OUT AND ABOUT The main attraction of Brighton and Hove is of course the beach, all 13km of it! It is divided into named sections which include a nudist beach, so best to do your research if you are keen to explore those lesser known! The main focal point is the Palace Pier which features a funfair, restaurants, arcade halls and irresistible doughnuts. The newer attraction of the 162m high British Airways i360 observation tower is located at the shore end of the West Pier. Locals head to the quieter beaches away from the city centre, especially in the busy summer. Brighton is famed for its charming independent shops. The North Laine area alone boasts over 400 shops including Snooper’s Attic, a collective of vintage hoarders, designers and makers, and an attraction in its own right. Further south, The Lanes are characterised by a maze of narrow alleyways consisting mainly of independent clothing stores, jewellers, antique shops, restaurants and pubs. For high street shoppers, Churchill Square is the main shopping centre with over 80 shops, several restaurants and 1,600 car parking spaces. There are also two weekly flea markets/boot sales in Brighton on Sunday mornings, one at Brighton Marina and the other at Brighton Racecourse. What is less well known is that Hove is also a shopping haven and one that is generally preferred

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LOCATION

FA C T F I L E

Average property price in Brighton and Hove (August 2020) – £379,045 Property breakdown* Detached – £707,588 Semi-detached – £463,348 Terraced – £415,404 Flat – £303,532 *According to the Land Registry House Price Index

FA M O U S R E S I D E N T S • Musician Fatboy Slim • Writer and Illustrator Raymond Briggs • Beatbox musician Beardyman • Singer James Morrison • Journalist Natasha Kaplinsky

by the locals who benefit from the same high standard of local products and service, without the tourists. One of our favourite stores is the award-winning Book Nook, an independent children’s bookshop. The city has a cafe or restaurant for every occasion and a great Sunday roast scene. Loads of pubs offer amazing roasts but Mrs Fitzherbert’s are incredible with family style roasts carved at the table. Brunch is also popular – head to Moksha for the hash browns or for something sweeter, Coffeetzar has the tastiest homemade cakes in town. Loading Bar on the seafront is great fun if you like gaming, with retro computer games and stacks of board games to enjoy. There are probably more pubs than there are days of the year so always a new one to try but locals tend to avoid West Street, where stag and hen parties congregate in chain bars. Hove has nightlife offering the same edgy vibe as Brighton but with a bit more sophistication and a little less noise! Brighton hosts Brighton Pride, which attracts 450,000 visitors to the city over Pride weekend, the Brighton Festival and Brighton Fringe in addition to smaller festivals. It is also the end of a number of London-to-Brighton rides and runs such as the veteran car run and bike ride. Film buffs will enjoy the Duke of York’s Picturehouse and Komedia arthouse cinemas as well as the two multiplexes. Theatres include the Brighton Dome, the Theatre Royal and the purpose built Brighton Open Air Theatre – which is actually located in Hove. There are masses of green spaces in and around the city making it easy to pursue an active, healthy lifestyle.

HOMES ON THE MARKET... HOVE

The Hantons

FROM £77,000*

Launching soon! Set alongside the Dyke Railway Trail on the South Downs, The Hantons is a contemporary development of 20 one and two bedroom apartments available through the Government’s shared ownership initiative. Within minutes of the South Downs National Park, and just down the road from the facilities of Hove, The Hantons offers you town, country and coast in one. Located in a quiet, residential area, this forward-looking new development offers a choice of apartments equipped with everything you need for a contemporary lifestyle. Kitchens come with integrated appliances and each apartment has a private balcony. shosales.co.uk/thehantons#register-interest

BRIGHTON

Preston Road

*Based on a 35% share with a full market value of £220,000

FROM £105,000*

Preston Road offers impressive refurbished Victorian one and two bedroom apartments in a unique development close to Preston Park. The large sash windows, majestic staircase and ornate balustrades have been carefully treated by an expert restoration team, while the link block, built by the council in the 1950s, has been removed and replaced with a contemporary brick building, designed to complement the Victorian architecture of the original villas. Here you can enjoy the buzz of Brighton life yet it’s still less than an hour to London and 30 minutes to Gatwick! shosales.co.uk/prestonroad

BRIGHTON

Courtyard Apartment at Circus Street

*Based on a 35% share with a full market value of £300,000

FROM £80,000*

These one and two bedroom apartments are available from Clarion through shared ownership. Featuring bright, contemporary interiors and flexible layouts, the fitted kitchens include a selection of modern appliances. Parking is included to ground floor apartments. Homes are in central Brighton within easy reach of the seafront and station with direct links to London and Gatwick. propertybooking.co.uk/sharedownership/properties/circusstreet *Based on a 25% share with a full market value of £320,000

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AFFORDABLE HOMES

SHARED OWNERSHIP SURGE DRIVES FIRST TIME BUYERS TO COLINDALE GARDENS Recent global events have caused a shift in the way we work, rest and play. With this in mind, shared ownership is proving to be a popular choice in the capital and beyond. For first time buyers keen to escape their house share or break away from the family home, Peabody has launched the final phase of shared ownership apartments at Colindale Gardens. The perfect place to adapt to your new normal

Enjoying a prime location within the up-and-coming area of NW9, The Shared Ownership Collection at Colindale Gardens offers spacious one bedroom apartments with exclusive amenities. Designed with modern day living in mind, the stylish apartments have plenty of space and flexibility, with fluid open-plan kitchen and living areas, private balconies, an around the clock concierge service, a landscaped rooftop garden, a residentsonly gym, and soon to arrive, a retail hub in the plaza. This brand new development offers residents a mini neighbourhood in its own

right, comprising nine acres of lush open green space, a network of walkways and cycle paths and a wide selection of shops and cafes. All this means that Colindale Gardens is the ideal place to work, relax and entertain friends and family. Locally there are plenty of open green spaces available. Just half a mile away is Rushgrove Park where residents will find public tennis courts and a multi-use games area, ideal for a spot of basketball or five-a-side football. Further afield is Fryent Country Park where locals can enjoy 254 acres of rolling fields and woodland. Those keen on walking can also embark on

the Capital Ring walking route from West Hendon playing fields. This 78-mile route has been divided into 15 sections, offering the opportunity to see some of London’s finest sites, open spaces and nature reserves. For those residents who need easy travel links nearby, Colindale benefits from superb commuter links into central London, with travel times of less than 30 minutes into the West End and 31 minutes to Bank via the Northern Line at Colindale underground station. For those who often need to travel internationally, nearby Mill Hill Broadway station provides Thameslink services to St Pancras International and Luton Airport. Andrew Peglau, Assistant Director of Marketing at Peabody, comments, “Purchasing a home can seem like an unobtainable dream thanks to rising house prices. Benefiting from easy access to central London, an abundance of open green space and fantastic amenities on the doorstep, our shared ownership offering at Colindale Gardens is ideal for those wishing to take the leap towards purchasing a home of their own.” Prices at Colindale Gardens start from £87,250 for a 25% share of a one bedroom apartment based on the full market value of £349,000. For further information or to book a viewing contact Peabody on 020 3369 3190 or visit Peabodysales.co.uk/colindale-gardens

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HELP TO BUY

EXPERIENCE NEW! EXPERIENCE INLAND!

With homes available across the South and South East from just £180,000, Inland Homes’ luxury one, two and three bedroom homes are perfect for first time buyers looking to take their first step on the property ladder With no Stamp Duty to pay, just a 5% deposit needed when buying with Help to Buy and a key worker discount, now is the time to make your homeowning dream a reality.

CAREFULLY DESIGNED, INSIDE AND OUT These spectacular homes are perfect for first time buyers looking for affordable luxury. Offering a contemporary specification, thoughtfully planned layouts and stylish open-plan kitchens/ living areas, every home is designed to maximise light, space and versatility. Stylish kitchens and bathrooms come as standard, while underfloor heating and premium flooring add to the quality feel. Randalls, Uxbridge

The Wessex, Bournemouth

with easy access to Bournemouth’s very best facilities right on the doorstep, with the world-famous sandy beach and pier just a short walk from the front door. These desirable new homes blend seamlessly with the art deco architectural heritage of the area while offering thoughtfully designed interiors. The stylish apartments have access to secure underground parking, landscaped green spaces and lawn areas to enjoy. Homes at The Wessex are available from £225,000

walkways and unlimited access to an abundance of amenities. Waterfront homes are available, with breathtaking views of the River Itchen which can be seen from private balconies and through stylish fulllength windows. A short distance along the River Itchen is Meridian Waterside, offering a bespoke collection of one and two bedroom apartments. Each new home is finished with a high specification throughout. Waterfront homes are also available, with a spacious open-plan kitchen/living area, a private balcony, floor-to-ceiling windows to take in the views and allocated parking. Prices at Meridian Waterside start from just £195,000

Venue, Maidenhead

VENUE, MAIDENHEAD RANDALLS, UXBRIDGE Integrating carefully into the iconic art deco facade of this Grade II listed former department store, Randalls is located in the heart of Uxbridge with a plethora of shopping facilities, restaurants and bars on the doorstep, just minutes from Uxbridge tube station. The first release at Randalls is Dalloway House; an exclusive collection of 16 one and two bedroom apartments. Tucked away behind the main development, this boutique collection of new homes offers buyers a place to retreat to while maintaining easy access to all that Uxbridge has to offer. Homes at Randalls are available from £350,000

THE WESSEX, BOURNEMOUTH The Wessex is a landmark development of 94 one, two and three bedroom apartments,

Chapel Riverside, Southampton

CHAPEL RIVERSIDE AND MERIDIAN WATERSIDE, SOUTHAMPTON Inland Homes offers two spectacular award-winning waterside developments in the vibrant city of Southampton. Chapel Riverside is situated along the west bank of the River Itchen and offers contemporary one and two bedroom apartments from just £180,000. Southampton city centre and Ocean Village are nearby, meaning residents can experience the best in both waterside and city living. Plus, all residents can enjoy the landscaped podium gardens, riverside

Venue comprises a charming collection of just 39 one and two bedroom apartments in the heart of Maidenhead, boasting a historic background formerly known as the popular 1930s nightclub, The Showboat. This exclusive development is a short 10-minute stroll from the town centre and just seven minutes from the Thames, with a variety of restaurants and bars for residents to discover nearby. The securely gated development features beautifully landscaped communal gardens for all residents to enjoy. Homes at Venue are available from £299,999 Enquire with Inland Homes today to discover more and book a viewing appointment. Call 01494 546 772 or email sales@inlandhomes. co.uk. You can follow Inland Homes’ social media channels on Facebook, Twitter or Instagram to keep up to date with the latest news and offers

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AFFORDABLE HOMES

HALE WORKS: BE PART OF THE TRANSFORMATION OF TOTTENHAM

Tottenham Hale is undergoing one of the biggest regeneration projects in recent times – soon to be home to over a thousand new homes, dozens of commercial units and modern public spaces As part of this transformation, Newlon Living has partnered with Anthology to offer 44 high-specification shared ownership homes in a new development – Hale Works. With a selection of one and two bedroom flats available, you can get a step on to the property ladder in this soughtafter location. The development offers spectacular views over one of the capital’s largest urban nature reserve, Walthamstow Wetlands, including from the communal sky garden. You will also be able to take advantage of a 24-hour concierge – offering around the clock services for residents. The new homes are light, with spacious open-plan living areas. Within the modern kitchens the composite stone worktops and high-spec appliances emphasise the focus on contemporary living. Similarly, the bathrooms follow the contemporary look, with modern chrome fittings accompanying high quality white steel baths. Hale Works sits within thriving

Hale Village, an architecturally unique community. The design was inspired by the world acclaimed regeneration of Hammarby, a waterside district in Stockholm, Sweden. Within Hale Village you will find a range of useful facilities including a supermarket, gym, cafe and green space. Plus, in the surrounding area you will find cafes, restaurants, a brewery and a major retail park, where you can access well-known chains for all your shopping needs. For relaxation you can easily explore the nearby Walthamstow Wetlands, which offers everything from fishing to bird watching, with a well-established cafe in a 19th century listed building – all within easy walking distance. For the more adventurous, the well-established local climbing centre can offer a unique way to keep fit.

Excellent transport links are another key selling point for Hale Works. Within just a three-minute stroll you can reach Tottenham Hale station. From there you can get a train into Liverpool Street in just 15 minutes, or connect with the express train to Stansted Airport. Alternatively, you can board the Victoria Line tube, which will get you to King’s Cross in 10 minutes or Oxford Street in 15 minutes, and forms part of the night tube network. There is also a major bus station just moments away, with a variety of routes to surrounding areas and beyond. For more information about Hale Works, to register your interest and to find out about the other new shared ownership properties Newlon has available, then visit the Newlon Living website at newlonliving.org.uk

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SHARED OWNERSHIP

HOT PROPERTY Kush Rawal, Residential Investment Director at Metropolitan Thames Valley, takes a look at the state of the property market and in particular shared ownership – the affordable way to get on the ladder As we approach the end of what has been an extraordinary year, there have been some major changes to the property market. From Stamp Duty exemptions to Help to Buy extensions, and the Affordable Homes Programme announcement that is set to be the biggest industry shake-up yet, it’s been hard to keep up at times. Despite the pandemic pitfalls of 2020 that nobody could have predicted, we now must focus on the positives, as for many aspiring first time buyers, this year of policy change has led to some opportunities to help achieve the ultimate goal of homeownership. While some of the changes introduced this year may only be temporary, the Affordable Homes Programme announcement was particularly welcomed by my colleagues at Metropolitan Thames Valley Housing – not least because it encourages accessible homeownership for those who genuinely need it. It is clear the Government has recognised that homeownership is an important part of helping us through in post-Covid recovery, and has identified shared ownership as being a significant recipient of funding to help people achieve this goal. Shared ownership has been around for over 40 years (I used it myself) and has always been accessible, previously requiring buyers to purchase a minimum share of 25% of the value, and I am pleased that the product will receive the funding it needs to help aspiring first time buyers. Another strong positive from the announcement is the Government’s commitment to allow buyers to staircase in 1% share increments – something that through our dedicated shared ownership brand SO Resi, we have allowed since 2017 through our SO Resi Plus scheme. This allows our customers to increase their shares by 1% each year for 15 years at an agreed, fixed price. We decided to introduce the scheme after extensive research and speaking to a high volume of our customers, many of whom found staircasing to be a challenge. Our 1% staircasing model is a proven success, and will maximise

opportunities for first time buyers. We have been delivering shared ownership homes for more than four decades now, and are continually searching for ways in which we can improve our offering. Key to this is consistently listening to our customers – from the implementation of SO Resi Plus, to being transparent about the more confusing elements of shared ownership. An example of our commitment to our customers and learning from their experiences is a recent development that we have just started working on in Bracknell town centre, where we will be providing just over 200 new affordable homes. This development was designed in conjunction with a group of our existing customers to ensure that we deliver homes that best suit the needs of our buyers, with a focus on factors such as storage space, and facilities for home working. Shared ownership is a necessary product, and it has enabled thousands of first time buyers to get on to the property ladder and gain the security that comes hand in hand with homeownership. Unlike other temporary schemes, shared ownership is a proven method of helping

first time buyers – particularly as house prices spiral, and an increasing number of lenders are removing lower loan-to-value mortgage offers. Looking ahead to 2021, I am confident that we will see numbers of shared ownership buyers continue to rise, particularly as Help to Buy restrictions are enforced and regional price caps come into effect. As an industry, it is paramount that we collectively work together to deliver high quality, genuinely accessible homes for first time buyers, and the recent Government announcements offer us hope that we will be able to deliver these homes. While there is uncertainty still surrounding the impact and duration of Covid-19, and of course Brexit, the property market has shown its resilience over the last few months and I am cautiously optimistic. As the Government drives the promotion of shared ownership and actively encourages housebuilding, I am confident that shared ownership will continue to stand the test of time and assist first time buyers to reach their homeownership goals. sharedownership.co.uk

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AFFORDABLE HOMES

THE JOURNEY INTO HOMEOWNERSHIP STARTS WITH US We are so proud to have won “Best Supplier to the FTB Market” at the 2020 First Time Buyer Readers’ Awards. SiteSales has been on-hand guiding first time buyers with their new build purchases for over 30 years and we have a superb selection of homes that you can book a viewing for, either in person or on a virtual video call. Here’s our top picks of homes available with shared ownership or London Help to Buy Hampton Tower

Traders’ Quarter

TRADERS’ QUARTER, ROYAL WHARF E16 Shared ownership available

Living at Traders’ Quarter is all about the new riverside community that is Royal Wharf and the lifestyle it offers. Located in Silvertown, east London, Royal Wharf has all the local amenities you could wish for including a local supermarket, coffee shops, a new primary school, gym, riverside parks, walks and cycle-routes, as well the Thames Clipper service from Royal Wharf Pier. Once you move in, residents gain membership to the Royal Wharf Clubhouse which includes a 25m swimming pool, hydrotherapy spa and fully equipped gym. SiteSales is selling a collection of two bedroom apartments that are ready to move into once you get the keys. Prices are from £126,875 for a 25% minimum share of £507,500 (full market value) for a two bedroom apartment. Visit tradersquarter.site-sales.co.uk to book your virtual tour today. Williamson Heights

HAMPTON TOWER AT SOUTH QUAY PLAZA, CANARY WHARF E14

UPTON GARDENS, EAST LONDON E6

Shared ownership available

South Quay Plaza is set to be one of the tallest residential buildings in Europe and with its iconic riverside location in Canary Wharf, this is a truly spectacular address to call home. The studio, one and two bedroom apartments have been thoughtfully crafted with a luxurious specification including underfloor heating, large sliding windows and contemporary kitchens. Once you move into Hampton Tower, you’ll have a 24-hour concierge service to handle your deliveries and post. Outside there are 2.6 acres of new gardens and public squares to relax and unwind in.

When you explore Upton Gardens you will get a strong sense of community running through this impressive hub of homes in Zone 3, in east London. The apartments at Upton Gardens, in the London Borough of Newham, all feature outdoor space and access to communal gardens and you are just a six-minute walk to Upton Park station which offers fast connections to central London in less than 15 minutes. SiteSales is selling a collection of one and two bedroom apartments that are ready to move into once you get the keys.

Prices from £108,750 for a 25% minimum share of

Prices from £85,000 for a 25% minimum share of

£435,000 (full market value) for a studio apartment.

£340,000 (full market value) for a one bedroom

Prices from £391,000 for a one bedroom apartment.

Visit hamptontower.site-sales.co.uk to book your virtual

apartment. Visit upton-gardens.site-sales.co.uk to book

Visit site-sales.co.uk or call 0344 892 0208 to book

tour today.

your virtual tour today.

WILLIAMSON HEIGHTS, WEMBLEY PARK HA9 London Help to Buy available

Welcome to Williamson Heights – an unmistakable collection of one, two and three bedroom apartments that offer more than just a living space. Complete with a convenient concierge service, hireable areas including a fitness suite and cinema room, and everuseful co-working spaces, Williamson Heights has so much more to offer than you’d realise at first glance. Residents have both podium level and rooftop gardens with panoramic views across north west London and beyond to enjoy.

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There is no place like your own home We’ve been helping ﬁrst time buyers onto the property ladder for over 30 years and this year we’ve won ‘Best Supplier to the FTB Market’ at the 2020 First Time Buyer Readers’ Awards. With an array of developments in well-connected and enviable locations, we’re ready to help you take the steps onto the property ladder and into home ownership.

UPTON GARDENS

HAMPTON TOWER

UPTON PARK E13

AT SOUTH QUAY PLAZA E14

1, 2 & 3 bed apartments with 90% sold

Studio, 1 & 2 bed apartments

from £85,000*

from £108,750*

WILLIAMSON HEIGHTS

TRADERS QUARTER

WEMBLEY BRENT HA9

ROYAL WHARF E16

1 & 2 bed apartments with superb residents facilities

Final 2 bed apartments ready to move into

from £391,000**

from £126,875*

Visit site-sales.co.uk or call our team to ﬁnd out how we can get you moving

We Are SiteSales. Welcome Home.

site-sales.co.uk 020 8502 5758

Winner of ‘Best Supplier to the FTB Market’ at the 2020 First Time Buyer Magazine Readers’ Awards

*Based on a 25% minimum share of the lowest FMV property available at time of press. Shared Ownership Terms and Conditions Apply. **London Help to Buy is available on selected plots only up to the value of £600,000, subject to qualifying criteria. Please speak with a sales consultant for full terms and conditions. Prices correct at time of print. Computer generated images and photography are indicative only.

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AFFORDABLE HOMES

DISCOVER SOUTHALL, ONE OF LONDON’S REGENERATION ZONES

Enhancing the flourishing metropolis of Southall with an impressive injection of investment from The Mayor’s Fund, this vibrant district is evolving into a hotspot for first time buyers. Junction West presents an exciting opportunity to take advantage of this evolution, in a community focused pocket of west London

An opportunity to be part of a 25-year masterplan is luring buyers to this popular part of the London Borough of Ealing. Rejuvenating this colourful neighbourhood, the project is set to transform the area which is home to Clarion Housing Group’s shared ownership development Junction West. Moments away from Southall station in this leafy London suburb, the new development comprises a stylish collection of one, two and three bedroom apartments. Standing tall with spectacular views of west London, these apartments are ideal for buyers seeking a connection to the outdoors. Spacious private balconies in each home tick the outdoor dining and living box, while communal gardens and beautiful covered walkways offer additional outside recreational space. Inside, the homes have been finished to a high-quality standard with excellent attention to detail. Sleek kitchens within impressive open-plan living areas come complete with a range of integrated Bosch appliances, ensuring effortless modern

living and flexible space. The perfect marriage of luxury living and an affordable London location, homes at Junction West have been carefully designed for maximum comfort. Residents will be well placed to reap the rewards of Ealing borough’s extensive programme of regeneration, which will transform the local area, and Southall in particular, into a magnet for London buyers seeking desirable surroundings in a buzzing community environment. The impressive investment programme guarantees improvements to Southall’s buzzing streets, colourful shop fronts and public spaces, enhancing what is already a thriving area. Featuring a comprehensive revamp of the high street with the introduction of new boulevard zones, nine new mini public spaces and fresh signage, the masterplan also features Dine in Southall, a unique enterprise project to draw on the area’s South Asian restaurant scene. Junction West is within a five-minute walk of Southall station, which offers a swift

commute to London Paddington in under 20 minutes and a 30-minute journey to Canary Wharf. Crossrail’s much-anticipated arrival in Ealing will also contribute to the borough’s growth, further increasing Southall’s connectivity and investment appeal. A cultural hub of culinary delights, bold colours and wonderful market stalls, Southall is synonymous with Indian culture. Authentic restaurants and renowned tailors and dressmakers line the high street in this diverse location, which has community at its heart, bringing people together in this unique environment. With the exceptional choice of living at Junction West, exciting new developments to the area and convenient transport links, an already bright area is set to have an even brighter future. Prices at Junction West start at £93,000 for a 30% share for a one bedroom apartment with a full market value of £310,000. For more information or to arrange a viewing please visit southall-sharedownership.com or call 0300 100 0309

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AFFORDABLE HOMES

BEST OF THE WEST

Evolution

Two new developments in west London from Network Homes feature residents’ gardens, balconies and car parking options, with the added bonus of being available with low deposits thanks to shared ownership

A+

Evolution

Southall is known for being a colourful, vibrant and friendly part of London – and residents at Evolution, a development of apartments in Merrick Road, will be happy to discover that it’s even friendly to their fourlegged friends. It’s unusual to find a shared ownership scheme that will accept the family dog or cat, but at this development, Network Homes will generally allow the patter of tiny paws. In fact, with so much green space around, it’s a great place to own a dog. The development is close to the Grand Union Canal with lovely towpath walks and there are plenty of parks and green spaces around Southall to enjoy. Evolution comprises a variety of studios, one, two, three and four bedroom apartments and two-storey duplexes, helping to create a friendly, mixed community. Each apartment has an open-plan living, dining and kitchen area and a private balcony, terrace or winter garden, and all residents can also enjoy the private podium-level courtyard garden and communal space. Southall station in Zone 4 is seven minutes’ walk away, with services to London Paddington in around 18 minutes, while a short walk will take you to the heart of The Broadway, Southall’s main shopping area with an abundance of jewellery, fabric, spice and food shops, plus bars, clubs and restaurants with cuisine from around the world.

Prices at Evolution start from £67,500 for a 25% share of a home with a full market value of £270,000. At nearby Hounslow, Network Homes is also releasing the final phase of its popular A+ development, with a selection of one and two bedroom shared ownership apartments in an elegant new mansion block. Apartments are light, bright, and modern, with clean lines and spacious open-plan living areas. Every home comes with its own balcony, and when the development is complete, residents will also have access to a peaceful, private garden with a children’s play area. Hounslow is an up-and-coming area undergoing an exciting regeneration, with plenty to offer residents. Open spaces include nearby Inwood Park, with its playground and football pitches, larger Lampton Park with tennis courts and rose gardens, and the wide open areas of Hounslow Heath with a pond, wetlands and woodlands. Eating out in Hounslow offers plenty of choice, from high street chains to delicious independent restaurants, and there’s a multiplex cinema and arts centre close at hand. A+ is eight minutes’ walk from the Zone 4 Hounslow East underground station on the Piccadilly Line, offering services to the West End in 35 minutes and to King’s Cross in under an hour. Prices at A+ start from £130,500 for a 45% share with a full market value of £290,000.

Evolution

Both Evolution and A+ are car-free, and have cycle storage and a Zipcar service at A+. However, for those who are still unsure about letting go of their cars, at Evolution, Network Homes is offering £500 towards a two-year car parking permit in a nearby car park, while at A+ it will contribute towards the first year’s annual car parking permit for the nearby NCP car park. In addition, Network Homes is contributing £500 towards legal fees for buyers at these developments. For more information visit networkhomessales.co.uk or call 0300 373 3000

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REAL LIFE

Shared ownership: Shepherd’s Bush

FA C T F I L E

“It’s like we’ve won the lottery” – how one family found sanctuary in their Octavia Passivhaus home at the Sulgrave Gardens development in Shepherd’s Bush, which they bought through shared ownership

research manager at Imperial College, Yingqi and his family have been living in their home, a two bedroom flat in Octavia’s award-winning Sulgrave Gardens development in west London, for six years. Moving from China to the UK and settling in Hammersmith, Yingqi did not think it would be possible to stay in this highly sought-after Zone 2 location. “We moved to London in 2010 and rented in Hammersmith until 2014. Looking for a place to buy, we were hoping to remain in the same area as our children go to school here. Having recently moved to a new country, we did not want to uproot them all over again. At the start of our buying journey, it didn’t seem like this would be possible, so we widened our search, looking at places further and further out of central London. Despite broadening our parameters, we were still finding that everywhere was too expensive for us.” On the verge of ruling out this pricey

west London suburb, Yingqi discovered the shared ownership homes available at Octavia’s Sulgrave Gardens. The scheme provides an affordable way into homeownership for people who may otherwise find it difficult to get on the property ladder in London. “We are really grateful to Octavia as the homes are in such a central and convenient spot. Shared ownership meant we could live in an affordable home in a great location and this scheme was the only way we were able to do this. People always say to us that it’s like we’ve won the lottery, as we haven’t had to sacrifice or compromise on anything. The development also has a real neighbourhood feel to it, everyone is very friendly and nice, which is a real plus.” Yingqi was grateful for the ease and convenience that came with buying a new build property, especially as the homes at Sulgrave Gardens came with a sophisticated specification and sleek finish. “We are very

“SHARED OWNERSHIP MEANT WE COULD LIVE IN AN AFFORDABLE HOME IN A GREAT LOCATION AND THIS SCHEME WAS THE ONLY WAY WE WERE ABLE TO DO THIS” 54

Property price: Two bedroom apartment with a full market value of £460,000 25% share: £115,000

happy with everything – the apartment came fully decorated and with brand new fixtures, fittings and white goods. It was great to be able to move in straight away without having to spend money on refurbishing and redecorating. This kept moving costs down as all that was needed was some essential furniture.” Completed in September 2013, Sulgrave Gardens adheres to Passivhaus standards – a building design that is truly energy efficient, affordable and ecological, all at the same time. An exemplar model for the UK building industry, this scheme is one of the first mixed-tenure Passivhaus developments in the UK and one of the first Passivhaus schemes to be set in a city context. A combination of super insulation, minimised thermal bridging and triple glazing are some of the features that result in the properties saving up to 90% of standard heating bills for residents. “The design of our home means that it is easy to keep energy bills down as we very rarely need to turn on the heating, even in the winter,” Yingqi says. “The fact that this sustainable model reduces our energy costs and carbon footprint at the same time is a win-win situation.” octavia.org.uk

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FOR SALE

FOR SALE THE CREAM OF THE CROP Each month, FTB scours the market for the best starter homes for first time buyers. So, whether you’re looking for a home with stunning waterside views or a smart new property on a shoestring, we hope you will enjoy our selection

REAL LIFE

Shared ownership p54 B I S H O P ’ S WA L T H A M , H A M P S H I R E

HOIC FIRST C

COUNTRY ID★E★A★L

Affordable homes p56-57

BEDFORD, BEDFORDSHIRE

HOIC FIRST C

TRANQUIL

G SE★TT★IN ★

Waterside wonders p58-59

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FOR SALE

AFFORDABLE HOMES B I S H O P ’ S WA L T H A M , H A M P S H I R E

HOIC FIRST C

FROM £140,000

COUNTRY IDEAL ★★★

Tangier Walk Located in the market town of Bishop’s Waltham, the two and three bedroom properties at Tangier Walk sit on the edge of the stunning South Downs, around 10 miles from the South Coast. The properties are beautifully designed, with sleek fitted kitchens, and living spaces that open to private rear gardens. Photovoltaic roof panels also support eco-friendly energy use within the homes. Bishop’s Waltham is a short walk away, for country pubs, boutiques and cafes, while Southampton is around a 20-minute drive for bigger-ticket shopping, entertainment and busy city life. Radian Homes 0800 145 6663 radianhomes.co.uk

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FOR SALE HUCKNALL, NOTTINGHAMSHIRE

FROM £166,950 D U N S TA B L E , B E D F O R D S H I R E

FROM £116,000*

Griffon Fields Green space abounds at this new development just outside Nottingham. Created on the site of a former aerodrome, and with pretty parkland, lakes and historic sites close by, the homes offer a breath of fresh air. Properties range from two to four bedrooms, and are finished to a high specification, with well-sized

EPSOM, SURREY

living areas, fitted kitchens, en suite bathrooms and downstairs WC. As well as a good range of local activities and amenities, Nottingham can be reached quickly by car or public transport for everything you might need. Muse 0115 784 2867 griffonfields.co.uk

FROM £330,000

Printworks The market town of Dunstable is home to this collection of two and three bedroom houses and apartments that are perfectly designed for modern life. The houses are arranged over two storeys, with open-plan living areas downstairs, along with a WC and storage, and well-sized bedrooms on the first floor. The

large windows allow for plenty of light, while styling is clean and contemporary. The town centre, beautiful country sights, good transport links and plenty of places to shop and eat lie just a few moments from the front door. Catalyst 01582 787 053 catalyst.homes

*Based on a 40% share of the full market value of £290,000

AY L E S B U R Y, B U C K I N G H A M S H I R E

FROM £199,950

Epsom Reach With beautiful surrounding countryside, a bustling and wellequipped town, as well as great rail links to London and beyond, residents are able to achieve the perfect work-life balance at Epsom Reach. There are just 21 new one, two and three bedroom apartments here, all thoughtfully designed, with contemporary

living spaces, built-in storage, private outdoor space and offstreet parking to some plots. The homes lie within walking distance of the town for the leisure centre, theatre, restaurants, cafes and plenty of shopping facilities. Shanly Homes 01372 885 303 shanlyhomes.co.uk

The Arc This new collection of one and two bedroom homes is superbly situated in the heart of Aylesbury. There is an excellent range of shops on the nearby high street, while a short walk will take you to restaurants, lovely Vale Park, a fitness centre and theatre. Aylesbury station is around a 10-minute walk, and there is

also easy access to the M40 as well as Luton airport, around 30 miles away. These homes are smart and contemporary, with fully fitted kitchens, integrated appliances and quality fixtures and fittings throughout. Shanly Homes 01296 506 082 shanlyhomes.com

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FOR SALE

WATERSIDE WONDERS BEDFORD, BEDFORDSHIRE

HOIC FIRST C

FROM £215,000

TRANQUIL

G SET★T★IN ★

Haymarket Rise This exclusive collection of two bedroom homes forms the final phase of the popular DeMonfort Place development, in the heart of Bedford. The 19 new properties all feature open-plan living areas that lead on to a private garden or balcony, and residents can also enjoy the communal gardens. The location has something for everyone, with the river and tranquil green spaces on the doorstep, as well as a good selection of shops, cafes and pubs in the thriving town centre. Lovers of the outdoors can head to sprawling Priory Country Park, made up of lakes, meadows and woodland, while Oxford, Cambridge and London can all be reached easily by road or rail. Storey Homes 01234 325 777 storey-homes.co.uk

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FOR SALE ROYAL DOCKS, EAST LONDON

FROM £330,000

FROM £93,750*

ENDLE STREET, SOUTHAMPTON

Pontoon Reach Forming part of the vibrant new community being created at Royal Docks, a collaboration between Peabody and Redrow has created almost 300 new apartments, set within a landmark 13-storey building, and surrounded by landscaped gardens and cycle paths. These homes range from studios to

HEMEL HEMPSTEAD

three bedroom apartments, all with balconies and finished to a high spec. Thames Barrier Park is a short stroll away. From nearby Pontoon Dock station, DLR services to central London take less than 20 minutes. Redrow 020 3131 6833 redrow.co.uk

FROM £264,950

Chapel Riverside Situated on the west bank of the River Itchen, this landmark development is ideally located for enjoying urban life in peaceful surrounds. The one and two bedroom apartments optimise space and light, with open-plan living areas and well-sized balconies. As well as landscaped courtyards, residents have direct

access to Southampton’s Ocean Village marina complex. The city centre can be reached in minutes, while Southampton Central station connects residents to London Waterloo in just over an hour, and Bournemouth in 30 minutes. St Arthur Homes 020 7224 3066 starthurhomes.co.uk

*Based on a 50% share of the full market value of £187,500

LOWER WILLINGDON, EASTBOURNE

FROM £254,995*

The Gade These lovely one and two bedroom apartments from Hill offer pretty riverside views but are just moments away from the town centre and Chilterns countryside. Part of a large regeneration programme, the homes are an eight-minute bike ride to Hemel Hempstead station, with trains taking 30 minutes to

London Euston. The stylish homes feature floor-to-ceiling windows, fully fitted kitchens with high quality appliances, underfloor heating and an allocated parking space. Every apartment has a balcony or terrace. The Gade 01442 979 599 thegade.co.uk

Meadowburne Place Meadowburne Place comprises two, three, four and five bedroom homes in the village of Lower Willingdon. Designed with sustainability in mind, they have electric vehicle charging points, a cycle voucher incentive and bike storage. The development, on the edge of the South Downs National Park, will

include play areas, allotments and sports pitches. Eastbourne has three miles of beaches, a shopping centre, and a range of restaurants. Nearby Hampden Park Station provides fast access to Brighton and London Victoria. David Wilson Homes 0333 355 8503 dwh.co.uk *Help to Buy available on selected homes

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HEADLINE SPONSOR

WINNERSâ&#x20AC;&#x2122; SUPPLEMENT

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AFFORDABLE HOMES

PHOTOS © MIKE PRIOR

WINNERS’ SUPPLEMENT

THE FIRST VIRTUAL FTB READERS’ AWARDS 2020 We did try! But everyone’s safety is paramount so we had to take the huge step to make the FTB Readers’ Awards virtual this year. Having never done this before it was a big challenge but as they say, “It was all right on the night” (well afternoon actually!) and the event turned out to be a huge success. Whether you watched from the comfort of your own home or were socially distancing in your office with colleagues, it was a resounding triumph. We thank every one of you for all your support and let’s hope in 2021 we can celebrate as we usually do. The Awards are the highlight in our busy calendar and it’s wonderful to see so many inspirational homes being built for first time buyers. This year, competition was fierce as we had so many more entries than ever before and the standard was extremely high. Our wonderful hosts, Nicki Chapman and Jonnie Irwin, who are among television’s most versatile lifestyle presenters,

were there to welcome everyone and celebrate the housing industry at its best. On the following pages, we showcase the event, and feature all the winners and highly commended. But, most importantly, we would like to thank all our readers who took time to cast their all-important votes – we couldn’t have done this without you. This year, our chosen charity was The Tommy Crush Foundation, which raises money to help support young people who are vulnerable to suicide, which is sadly a growing problem. The organisation works with existing UK charities with evidence of a demonstrable track record in the work they do, to directly benefit children and young people between the ages of 11 and 18. We were delighted to help this very worthy cause and the money raised will help those young people and their families. A big thank you to everyone who donated. Congratulations to you all and we very much look forward to seeing you at the FTB Readers’ Awards next year.

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FINANCE

buyer

READERS’ AWARDS 2020

buyer

BEST SMALL DEVELOPMENT

READERS’ AWARDS

This award was presented by Bevin Woby, Business Development and Marketing Manager at Direction Law.

SPONSORED BY

Highly Commended

Winner

SOUTHERN HOME OWNERSHIP PRESTON ROAD

REGENTA DEVELOPMENT WINNS AVENUE

BEST URBAN REGENERATION PROJECT This award was presented by Andy Haeffele, Managing Director at Dave the Dog.

SPONSORED BY

POPLAR HARCA BOW GARDEN SQUARE

Winner Highly Commended

CATALYST PORTOBELLO SQUARE

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AFFORDABLE HOMES

WINNERS’ SUPPLEMENT BEST PARTNERSHIP SPONSORED BY

This award was presented by Rebecca Johnson, Account Director at Faust PR.

RADIAN GROUP AND WATES RESIDENTIAL

Winner

Highly Commended

HOME REACH

BEST AGE-EXCLUSIVE HOUSING SPONSORED BY

This award was presented by Chris Jones, Managing Partner at Space & Time.

Winner

Highly Commended

EMH SPRINGFIELDS

GECKO HOMES MINEHEAD

buyer

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READERS’ AWARDS 2020

BEST LAW FIRM FOR CONVEYANCING

buyer

READERS’ AWARDS

This award was presented by Stephen Harker, Managing Partner at Dawson Cornwell.

SPONSORED BY

Highly Commended

Winner

PRINCE EVANS SOLICITORS LLP

DIRECTION LAW

MOST INNOVATIVE MARKETING CAMPAIGN This award was presented by Lucy Chitty, Head of Shared Ownership Sales at Savills.

SPONSORED BY

METROPOLITAN THAMES VALLEY HOUSING SO RESI

NOTTING HILL GENESIS MANOR PLACE DEPOT

Highly Commended

Winner

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WINNERS’ SUPPLEMENT BEST LARGE DEVELOPMENT This award was presented by Shaun Peart, Managing Director at LSL Land and New Homes.

SPONSORED BY

COUNTRYSIDE AND L&Q BEAULIEU

Winner Highly Commended

OPTIVO WATERWAY, RIVERSIDE QUARTER

BEST USE OF A GOVERNMENT SCHEME This award was presented by Dan Jones, Managing Director at Focus IMC.

SPONSORED BY

Winner

PEABODY THE REACH

Highly Commended

LEGAL AND GENERAL AFFORDABLE HOMES LEON HOUSE

buyer

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READERS’ AWARDS 2020

buyer

BEST SUPPLIER TO THE FIRST TIME BUYER MARKET READERS’ AWARDS This award was presented by Andy Watts, Director at Cast Media Group.

SPONSORED BY

Winner

Highly Commended

SITESALES PROPERTY GROUP

THE MEDIA PEOPLE

FIRST TIME BUYER APARTMENT This award was presented by Craig Osborne, Director of Housing at Vesta.

SPONSORED BY

Winner

CATALYST NEON

Highly Commended

HIGGINS HOMES NEW STRATFORD WORKS

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WINNERS’ SUPPLEMENT BEST SHOW HOME This award was presented by Wayne Bennett, National Home Reach Director and Melissa Toomey, Director of Sales at heylo.

SPONSORED BY

Winner

SOUTHERN HOME OWNERSHIP THE REFINERY

Highly Commended

METROPOLITAN THAMES VALLEY HOUSING SO RESI SYDENHAM

BEST FIRST TIME BUYER FAMILY HOME SPONSORED BY

This award was presented by Janna Caley, Director at Boxed Red. . Winner

Highly Commended

CLARION LAVENDER WALK

PEABODY STONELEA GARDENS

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READERS’ AWARDS 2020

BEST NEW DEVELOPMENT IN THE NORTH

buyer

READERS’ AWARDS

This award was presented by Linda Storey, Head of Social Housing and Gemma Bell, Partner, Housing Corporate and Governance at Penningtons Manches Cooper.

SPONSORED BY

Winner

ONWARD CLIFTON GARDENS

Highly Commended

RIVERSIDE HOME OWNERSHIP COPPER BROOK

BEST NEW DEVELOPMENT IN THE SOUTH This award was presented by Ross Smith, Director at SiteSales Property Group. .

SPONSORED BY

Highly Commended

INLAND HOMES CHAPEL RIVERSIDE

Winner

PETERS VILLAGE

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WINNERS’ SUPPLEMENT BEST OFF-PLAN DEVELOPMENT This award was presented by John Dean, Director at Buchanan Dean Design.

SPONSORED BY

PLUMLIFE FOXWOOD Highly Commended

NOTTING HILL GENESIS PECKHAM PLACE

Winner

PRIVATE DEVELOPER OF THE YEAR SPONSORED BY

This award was presented by Alice McCutcheon, Creative Director at The Oracle Group. . Highly Commended

INLAND HOMES

Winner

COUNTRYSIDE

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READERS’ AWARDS 2020

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AFFORDABLE HOUSING PROVIDER OF THE YEAR READERS’ AWARDS This award was presented by The Media People.

SPONSORED BY

Winner

METROPOLITAN THAMES VALLEY HOUSING

Highly Commended

PLUMLIFE

JUDGES’ SPECIAL AWARD FOR OUTSTANDING CONTRIBUTION TO THE FIRST TIME BUYER MARKET This award was presented by Rupi Hunjan, Managing Director at Censeo Financial.

SPONSORED BY

THE EDITOR’S SPECIAL AWARD FOR SERVICES TO THE INDUSTRY SPONSORED BY

Highly Commended

TONY HARKER

FELICITY GENTLE

Winner

SIMON SCOTT ASSISTANT DIRECTOR COMMERCIAL & PROPERTY MARKETING, ORIGIN HOUSING

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LEGAL

A simple guide to legal jargon If you’re buying or selling a home, you’ll need a conveyancer or property solicitor to deal with the paperwork involved. However, the process can be complicated and confusing and Lesley Price FCILEx of CGM Solicitors provides a quick guide to the steps that you will go through during your purchase and what some of the terms you will hear actually mean EXCHANGE OF CONTRACTS This is the stage at which the seller becomes legally bound to sell the property to the buyer and the buyer becomes legally bound to purchase the property from the seller. At any stage before this either party can withdraw from the transaction. To exchange contracts a buyer has to pay part of the purchase monies (the deposit) which is usually 10% of the cost and a completion date is agreed.

COMPLETION This is the date that the balance of the purchase monies is paid through the solicitors and the buyer can move into the property and the seller must leave the property.

SURVEY If you are obtaining a mortgage to purchase your property you will have to pay for a valuation. However, this is a limited report for the benefit of your lender. You would therefore be advised to have your own survey carried out. This can be a full structural survey or a lesser one known as a Homebuyer’s Report.

DEPOSIT

COVENANTS These are restrictions which affect some properties. If you are purchasing a freehold property there may be restrictions, which were put on the land when it was built or at a later time. They can include uses of the land such as restricting it to a private dwelling house among other restrictions.

DISBURSEMENTS

This expression is used in two ways. First, as the amount of money that a purchaser is putting into the property, in other words the difference between the mortgage amount and the purchase price, and second the sum of money which is paid by the purchaser at exchange of contracts.

When you purchase a property, you have to pay out disbursements. These are simply payments to other people and include such things as search fees, Stamp Duty and land registry fees.

GIFTED DEPOSIT

MORTGAGE OFFER

It is quite common nowadays, particularly with first time buyers, for parents to give their children some money to help them purchase a property. This is known as a gifted deposit. It has to be reported to the mortgage lender who has to approve the gift.

You may receive an agreement from your mortgage lender to lend you money at the beginning of the transaction. However, when a solicitor refers to a mortgage offer they mean a written offer of mortgage which sets out all the details and conditions.

KEY THINGS TO REMEMBER 9 Know your budget and bear in mind there will often be additional expenses that will arise during the process. 9 Make sure you have saved up some money as a contingency for this. 9 Pick a legal adviser you feel comfortable with and that you can communicate with clearly and effectively. 9 Don’t be afraid to ask questions of the professionals involved. It is their job to make sure you understand what you are committing to. 9 Be realistic on timescales. If you try to rush things, then you may add to your own stress levels if things don’t quite go to plan. Any questions? We are here to help. We specialise in a wide range of property matters and transactions so please contact us at enquiries@c-g-m.co.uk c-g-m.co.uk

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FINANCE

First time buyers – what are your options? The plight of first time buyers has been one of the most written and talked about subjects for the past decade. With that being said, I am going to add some column inches to the ever growing word count The first time buyer population faces several problems and recent surveys suggest a large proportion of this generation has given up on the thought of owning a home and has been dubbed “generation rent”. Renting is not new, but the thought of renting for our whole lives is something we have shied away from – who wants to rent in retirement with significantly reduced pension income? Members of generation rent have some reasons ready for this. “Why get tied down to a property and debt?” or “We want to experience things and move around, but a house would only hold us back.” They do have a point but unless they have a wellfunded pension they will never have any assets or wealth behind them for retirement during which they will still have to pay rent. Chances are, many are hoping to inherit but that is not guaranteed. So, what are the problems? The biggest issue cited is deposit, and currently with most lenders unwilling to offer 90% loan-tovalue mortgages and none offering 95% this means that for a purchase price of £250,000, first time buyers need to stump up at least £25,000 as a deposit. That is not a small sum of money if you’re in your late 20s or early 30s, possibly with renting and student debt still behind you. But there are options and solutions – for those committed to owning in the future. 1.

90% deals These are still available but thin on the ground and with a few lenders coming to market with them for 24 or 48 hours you will likely need a broker to access them. Help to Buy, shared ownership and shared equity schemes These are still available (until 2023 for Help to Buy) and will allow first time buyers to get something they may have thought unattainable due to the subsidies on offer. But, they do have drawbacks as the scheme operators will own a significant proportion of the property you call home. Buyers should fully understand how they work before signing on the dotted line. Family assisted mortgage products These allow family members to either

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

put cash in an account with the lender for deposit or put up equity in their homes as collateral, allowing buyers to get what equates to a 100% mortgage. The advantage here is that if and when prices rise in future then the family members will get their cash returned or the charge on their property released. Whereas, actually gifting cash as a deposit is usually only returned on the sale of the property if at all. Loaned deposits rather than gifted Some lenders have acknowledged that many gifted deposits aren’t actually gifts at all and the bank of mum and dad expect their money back. As a result, they will allow the “gift” to be a “loan” that has to be repaid on the sale of the property. They may even allow the donor to place a second charge on the property to register their interest, which prevents one of the first time buyers who didn’t put money into the purchase originally from getting an automatic pay-out. Be patient We expect 95% mortgages to return once lenders have regained confidence in the property market, which might

not be for over a year. But that only gives you time to get a deposit together. So, there’s hope – don’t give up, commit to buying, plan for it and it will happen. Lastly, a few words on delaying. Property prices do fall from time to time, but noone can call the bottom of the market successfully, and when the upturn happens it tends to be rapid. So, if you wait for a downturn you may well miss the chance and typically when prices are low the choice of properties available to buy is usually poor. But, potentially the worst outcome of waiting is the wasted rent payments, actually higher prices, and the fact that every year you delay buying means you will be a year older when the mortgage ends. Given that mortgage terms are increasing to accommodate the amounts being borrowed, delaying could end up costing you. Do you want to know more about your mortgage options? Visit charcol.co.uk/ftbmortgages or call us on 03301277829 and speak to one of our specialist mortgage advisers. We can tell you everything you need to know

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COMPETITION

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FIRST MEAL

FIRST HOME, FIRST MEAL A traditional Nordic staple, meatballs are always a popular dish but are also a Christmas favourite. This delicious recipe from Jorjon Colazo, Head Chef at Aquavit London, is quick and easy to make and will create the perfect Christmas Eve supper

SWEDISH MEATBALLS

INGREDIENTS (Recommended serving 7-9 per person)  1.5kg high quality

beef mince

 500g high quality

pork mince

 150g high quality        

beef fat cap, minced 150ml double cream 100ml milk 150g panko crumbs 150g browned onions 50g mustard 2 whole free-range eggs Salt Black pepper

METHOD 1

3 4 5

Thinly slice and then dice the onions and fry them off in a pan until browned, then set them aside. Add the milk, double cream, mustard and eggs to the minced meat, season with salt and black pepper, and then mix together thoroughly until combined. Add the panko crumbs and onions, and stir them into the mixture. Chill in the fridge for minimum of 1 hour. Remove and roll into small balls (1 meatball = 25g) and then place on a tray covered with parchment paper. Once you’ve prepared all of your meatballs, place them in a pan and cook over a medium heat until browned all over and cooked through. Towards the end of cooking, add a knob of butter to the pan to add a slight caramelised flavour to the meatballs. Serve with creamy mashed potato and pickled cucumber.

With almost two decades of experience gleaned in kitchens across the globe, Jorjon Colazo is now Head Chef at Michelin-starred Aquavit London, located in St James’s Market. Jorjon grew up in Argentina in the city of Ushuaia, nicknamed the "End of the World" due to it being situated on the southernmost tip of the country. Ushuaia is at roughly the same latitude as some parts of Scandinavia, meaning there are commonalities among the cultures and in particular their cuisines. As Head Chef, Jorjon is responsible for curating the innovative Nordic-inspired menu that Aquavit London is famed for, as well as for overseeing a team of 26 in the kitchen. Jorjon’s menu puts the spotlight on the finest local ingredients, showcasing them in eclectic and elaborate ways. With a focus on clean flavours and simple presentation, his food is refined yet unpretentious. Having had a keen interest in becoming a chef from a young age, Jorjon made the decision to attend the Argentine Institute of Gastronomy. Here he undertook the Professional Chef Programme and learnt essential practical techniques, then he also went on to study at Le Cordon Bleu in Paris. With a passion for discovering new cultures and cuisines, Jorjon has travelled extensively, honing his skills and crafting his signature cooking style, incorporating techniques and flavours from his experiences. From Argentina to Spain, and Mexico to the US, Jorjon has worked in a number of top restaurants, including the three-Michelin-starred Arzak in San Sebastián, as well as Asiate at the Mandarin Oriental Hotel in New York. Jorjon also worked at Aquavit in New York, the twoMichelin-starred sister to Aquavit London. Moving to London in 2017, Jorjon took up the position of Executive Sous Chef at Mandarin Oriental Hyde Park before becoming Head Chef at Aster in Victoria, prior to joining Aquavit London in 2019.

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FTB’S FAST FOOD

KEY BEST TURTI VE A N ER LT A

It’s the most wonderful time of the year! Christmas is known for its family gettogethers, parties, smiles, laughter and perhaps, equally importantly, the food and drink. With so many choices out there for the big day it can be a daunting task to search out the best options. So, here at FTB, we have done the hard work for you. From the crackers to the Christmas pudding and everything in between, this is our choice of the best festive selections that the UK’s supermarkets have to offer this Christmas WAITROSE

No 1 British venison Wellington; £30

WAITROSE

Heston from Waitrose Citrus Gin Smoked Salmon; £6.99

The traditional Christmas turkey is not for everyone,with

BEST SMOKED SALMON

This isn’t your average smoked salmon found in most households at Christmas. This one brings something a

many people looking for tasty alternatives for the big day. This venison Wellington from Waitrose is an excellent option – the classic puff pastry Wellington with a twist. The

little different to the table and who better to bring it than the

venison loin is topped with a mushroom duxelle made with

master of all things wacky, Heston Blumenthal himself. This

porcini mushrooms, brandy and thyme, plus juniper and

is a silky Scottish salmon cured with Heston from Waitrose

blackberry to bring out the venison’s unique flavour. This is

Citrus Sherbet Lazy Gin, smoked over oak and finished with

a rich treat fit for a king that will not disappoint.

gold lustre making it look amazing. The taste must be tried to be believed but it will not disappoint. LAKELAND

BEST FA CHRIST MILY MAS CA KE

Cracker Symphony Crackers; £16.99 Fed up with the same old Christmas songs year after year? These crackers from Lakeland give you and

the family a chance to create your own Christmas music. Eight handmade crackers all contain differently toned whistles. When played correctly with the music (which is made with easy to follow numbers) you will all play tunes together such as Three Blind Mice or Ding Dong Merrily on High. So, whether it’s a sublime

BEST CH RISTM CRACKE AS RS

symphony or a chaotic cacophony you’re producing, these crackers are sure to bring some hilarity to your Christmas table this year. TESCO

Tesco Finest* Prosecco Doc; £8

GNE AMPA EST CH

CCO

BEST PROSE

Put some sparkle into your

sparkling wine this Christmas with

M&S

Christmas Tree Colin the Caterpillar; £10

Tesco’s excellent Prosecco Doc. This classy bubbly is a great "go to" at any time over the Christmas period. It has an elegant and

For years now, Marks and Spencer’s Colin the Caterpillar has gained something of a cult status among many across the country. So, what better

somewhat lingering finish on the palate,

way to involve the chocolate critter at Christmas time by having a giant

full of citrus and pear flavours with

festive Colin on your table? Big enough to feed 10 people, Colin is made

peach blossom aromas that go down

from a chocolate covered sponge roll with chocolate buttercream inside

a real treat. Serve chilled as an aperitif

and is decorated with edible presents and decorations such as festive

pre-dinner or cheeky Christmas morning

trees and baubles. He also wears a big red chocolate Santa hat to top off

tipple or combine it with any salmon

this family Christmas treat.

starter you are going to serve as the flavours match up perfectly. M&S

Delacourt Champagne Brut; £20 There is never a better time than Christmas to pop

WAITROSE

Vegan Festive Filo Swirls; £6.99 Squash, spice and all things nice! These vegan festive filo swirls

open a lovely bottle of bubbly, and this elegant aperitif

are packed with flavour and are a fantastic option for any vegan

from M&S is sure to be a hit this Christmas. Flavours of

this Christmas time. A bite into one of these will take your mouth

brioche, vanilla and peach fill the palate – better than

and mind all the way to North Africa with a Moroccan spiced

some much more expensive champagnes. Not too dry

filling of butternut squash, red pepper, tomatoes, apricots and

and easy to drink, there could be more than one bottle

raisins all wrapped in crispy filo pastry with a scattering of

of this consumed in households over the festive period!

almonds. A vegan main as tempting as it is tasty.

EGANS

BEST FOR V

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TESCO

Tesco finest* chocolate orange & maple bauble cake; £13

IES

If you’re in need of a stunning centrepiece for your Boxing

INCE P

BEST M

Day table, look no further than Tesco’s bauble cake, which will certainly wow your guests. It is made with chocolate orange brownie layered with orange sponge cake and a smooth Belgian chocolate orange buttercream. Slice into the middle to reveal the hidden surprise centre filled with crunchy chocolate cereal balls. Hand-finished with a creamy maple flavour buttercream, gold dusted cereal balls,

ALDI

a duo of buttercream piping and a white chocolate

Specially Selected exquisite mince pies; £2.99

OXING BEST B SERT ES DAY D

bauble, it's an absolute treat!

There are two types of mince pie in this world. The first, your average mince pies bought in their dozens and eaten quickly, sometimes warmed up with some brandy butter or ice cream. Then there are your "upper

BEST CHRISTM AS PUDDING

class" mince pies – the ones you will only ever get out on special occasions, a bit like your best dining plates. These are most definitely special occasion mince pies with a wonderful filling bursting with flavour and buttery pastry that melts in the mouth. You won’t look at other mince pies the same ever again

HEESE

BEST C

M&S

TESCO

Tesco Cheddar, Red Leicester, lemon chilli star; £2.50

Collection 12 Month Matured Christmas Pudding; £12

Not only does this cheese look the part, it tastes

Perhaps the centrepiece of any Christmas dinner

the part as well and will take centre stage on your

table, the Christmas pudding has to be a good one.

Christmas cheese board. Made out of not one, but

BEST SHARER

This offering from M&S will delight everyone with its

two perfectly blended cheeses merged together with

traditional festive taste that will leave you in no doubt

a fiery lemon chilli seasoning, this has a lovely subtle

that you are enjoying some special Christmas fayre.

CO-OP

kick that warms and slightly lingers on the palate.

Irresistible Garlic & Parsley Sharing Bread with Camembert; £4

Some will find it hard to cut into the charming star

apples and nuts with brandy and cognac topping.

shape to begin with, but this will surely be forgotten

Just rich enough to be very moreish, this Christmas

This has a wonderful taste with the garlic flavour coming

once they taste this excellent cheese that reminds

through nicely. With the creamy Camembert oozing out

many of the humble Babybel but much, much better.

The fruity pudding is bursting with vine fruits, Braeburn

pudding will leave you coming back for more! CO-OP

from the middle you have a match made in heaven. At

Free From Irresistible burnt caramel sponge; £4.50

just £4, this sharer is a real bargain as the size and taste wouldn’t be out of place for something a lot pricier. M&S

It’s good to see that all supermarkets are providing more and

Chicken doughnut dippers; £5

more dishes for those with dietary requirements and there are lots

Every Christmas we get creations that appear on the food

of options out there this Christmas. One of the best "free from"

market that are more unique than ever before and wow us.

puddings is this burnt caramel sponge from the Co-Op that has

Step up the chicken doughnut dippers for 2020. A concept as

a wonderful texture and taste as well as looking the part with

tasty as it is wacky! They may look like doughnuts dipped in

the gold shimmer on top of it. The pudding is made up of moist

strawberry jam but in fact they are jumbo chicken breast rings

caramel sponge with a smooth burnt caramel sauce that packs

which come in their own doughnut box with barbecue sauce

real flavour that is sure to put a smile on anyone’s face.

and waffle crumbs. These are sure to add something a little different to your Christmas menu this year.

BEST CANAP

LAKELAND

BEST FREE FR

Loison Apricot and Ginger Panettone; £19.99 If you’re a fan of ginger, then this Loison Apricot & Ginger Panettone will be right up your street. This deliciously moist, soft and fluffy yellow cake is enriched with chunks of ginger, candied apricot and sultanas and makes a lovely sweet and spicy treat. Delicious sliced and served with a cup of coffee, this panettone also makes a fantastic luxurious dessert when served

ONE

ANETT BEST P

with cream. Packed in a beautifully illustrated gift box, this wonderful cake is perfect for sharing with friends, or giving as a delightful gift.

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FINANCE

Mortgage Clinic Much like most of daily life post-lockdown, buying a home and arranging a mortgage requires more planning and forethought than it once did. It might be a while before you can turn up to your local bar, or indeed property viewing, unprepared or unannounced. So, what steps should you take before you start your property search? Freehold vs leasehold – what’s best? Freehold and leasehold are essentially types of property ownership. The kind you choose will determine whether you pay ground rent, what kind of changes you can make to the property and for how long you’ll own it. A freehold is the permanent and absolute tenure of land or property. Basically, if you buy a freehold property, it means you own that property and the land on which it stands outright in perpetuity. It’s completely yours unless you decide to sell it. As a rule of thumb, houses are typically available as freehold properties while most apartments are available as leasehold. A leasehold is the holding of a property by lease. Leasehold ownership is different from renting as you do, technically, own your property, but you only own it for the length of your lease agreement with your freeholder. Unlike freehold, you don’t own the land on which your property stands. Instead, someone else will own the freehold – the actual land and the building itself – and you pay an annual ground rent for the right to live in the property for a selected period – ie until the lease ends. Your lease agreement will determine what you do and don’t own, and what you can and can’t do to the property – eg put up a satellite TV dish or move an internal wall, and who is responsible for the upkeep of communal areas. The ownership of the property automatically returns to the landlord when your lease ends. The majority of flats you can buy are leasehold, but there are some leasehold houses as well. Mortgages on leasehold properties can be a little more complex than mortgages for freehold properties, but the products available to you are the same – eg you can have fixed, variable and tracker rate mortgages for leasehold or freehold properties. Each lender will have their own stipulation as to what kinds of mortgages they offer but there are lot of options available on the market. It’s not always as straightforward as freehold vs leasehold; what suits you ultimately depends on your unique situation and the actual property you want to buy. Our advisers can explain your options to you in a lot more detail. Call us now on 0330 127 7829.

What are tenants in common? To be tenants in common you must be part of a tenancy in common agreement. A tenancy in common agreement is a situation in which two or more people hold interest in a property and each owner has the right to leave their share of the property to a beneficiary upon their death. This doesn’t mean you own separate parts, but that you have separate interest in the whole property. Tenants in common can have different ownership interests – eg Jane may own 75% of a property and Jack may own 25%. The fact that you own separate proportions of interest in a property makes tenancy in common suitable for people who want to purchase a property with friends and family and for people buying together but who are putting down different amounts of money to make up the deposit. Tenancies in common allow you to be a joint owner with a little extra independence.

offer having previously accepted your offer. This process pushes you out of the purchase and can happen any time before you’ve exchanged contracts. Sellers are more likely to accept other offers if you’re taking too long to survey the property, the sale of your home is dragging on, or if your solicitor is processing things too slowly. Gazundering is rarer than gazumping, however it does still happen. It’s where a purchaser waits until very late in the process, usually just before exchange of contracts, to tell the buyer that they no longer want to pay the agreed-upon price but want to reduce the amount. This is a vehemently frowned upon practice and only tends to occur in a falling market. There are risks involved with this as chains can break down. Also, the party doing the gazundering can develop a reputation among estate agents which might make it harder for their offers to be accepted in future.

What does it mean when people say gazumping and gazundering? Gazumping is when another buyer outbids you on a property you’re in the process of buying and the seller accepts their higher

Do you want to know more about your mortgage options? Visit charcol.co.uk/ftbmortgages or call us on 0330 127 7829 and speak to one of our specialist mortgage advisers. We can tell you everything you need to know

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FINANCE

EXPERT COMMENT This announcement will no doubt excite a nation of aspirational

Boris’s blueprint Prime Minister Boris Johnson has promised a new golden age of house buying, with readily available 95% mortgages. Kay Hill looks at whether this could be a game-changer for first time buyers

homebuyers who have already been sent into a frenzy over the prospect of paying no Stamp Duty. However, for Boris Johnson to claim this will help fix our broken housing market is not only laughable but quite frankly an insult to those who find themselves priced out of homeownership. The cause of the dire situation we find ourselves in is the Government’s sustained failure to build enough affordable housing year in, year out. The inadequate supply of housing to

Even the most optimistic among us will be hard pressed to find much good news from 2020 – but according to Prime Minister Boris Johnson there is hope on the horizon, at least when it comes to the housing market. At the Conservative Party Conference, Boris made a speech that aimed to be inspirational – pointing out that it is the terrible events of history, such as wars, famines and plagues that are often “the trigger for an acceleration of social and economic change”. In the same spirit as the rebuilding of Britain after the second world war, he promised to fix the broken housing market. “We are resolving not to go back to 2019, but to do better,” he told the party members. “When Covid struck there were millions of people, often young people, who found themselves locked down in rented

accommodation, without private space, without a garden, forced to use ironing boards for desks and bedrooms for offices,” he explained. “I know that many people are of course happy with renting and the flexibility that it offers. But for most people it is still true that the overwhelming instinct is to buy. “Many of them simply can’t – not because they can’t afford the mortgage, but because they can’t afford the deposit, and the disgraceful truth is that levels of owner occupation for the under 40s have plummeted in this country, and millions of people are forced to pay through the nose to rent a home they cannot truly love or make their own, because they cannot add a knob or a knocker to the front door or in some cases even hang a picture – let alone pass it on to their children.” Planning reforms alone couldn’t mend

meet demand is one of the driving factors that has caused house prices to spiral and to continue to mask this failure by further fuelling demand is irresponsible. Instead, their time would be better spent reallocating wrongly classified green belt land so it can be utilised for housing and preventing the big housebuilders from drip-feeding housing supply in order to keep their profits up.

James Forrester Managing Director, Barrows and Forrester estate agency

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FINANCE the property market soon enough, said the Prime Minister, “We need now to take forward one of the key proposals of our manifesto of 2019 – giving young first time buyers the chance to take out a long-term fixed rate mortgage of up to 95 per cent of the value of the home, vastly reducing the size of the deposit, and giving the chance of homeownership – and all the joy and pride that goes with it – to millions that feel excluded. We believe that this policy could create two million more owner occupiers, the biggest expansion of home ownership since the 1980s. We will help turn generation rent into generation buy.” The promises will undoubtedly gladden the heart of everyone who is desperately trying to scrape together a deposit against a backdrop of rising house prices and almost zero return on savings. The substance however, at the time of writing, was rather lacking. Boris Johnson referred in his speech to “our long-term fixed rate mortgages” but it’s unlikely that he is proposing any kind of state-funded mortgage – instead, in the absence of clear details, there is a lot of speculation. It is understood that the Prime Minister has asked Ministers to look into removing the “stress tests” that were brought in after the last financial crisis. At the moment, the Bank of England requires mortgage applicants to prove they could still afford to pay their loan if it increased to 3% above the mortgage policy’s reversion rate. This is the higher rate paid after any initial deal has finished, usually the standard variable rate – meaning they may be asked to prove they could cope with rates up to 6.5% higher than they would actually be paying. In a climate of continued low interest rates, removing or relaxing this requirement could allow many people to borrow more. There could also be some relaxation of the income and expenditure assessments and earnings requirements, which can be particularly difficult for those who are self-employed or on zero hours contracts. Under current rules, people who have been reliably paying large monthly

rental bills for years can find themselves refused for a mortgage that would actually significantly cut their monthly costs, on the grounds that it is “unaffordable”. These plans would, however, increase the risk to lenders of buyers being unable to keep up with their payments. Mortgage companies ask for a deposit so that in the event of prices falling and a buyer defaulting on payments they could still recoup the money they have lent by selling the home at a lower price. With a 95% mortgage, the chance of falling into negative equity (where the home is worth less than the outstanding mortgage) is increased, along with the chances that the lender could lose money. Before the financial crisis it used to be common for buyers with a high LTV loan to pay for mortgage indemnity insurance, a one-off payment that covered the lender in the event of this happening, but these policies are not as readily available today. A similar protection was also offered, for a while, through the Government’s Help to Buy: Mortgage Guarantee Scheme, which closed in 2016. In the two years it was available the scheme helped to more than double the amount of 95% LTV deals available on the market, so it could be that a scheme of this nature could be relaunched. While the details may be lacking, it seems that the resolve is there at least. In an interview with The Telegraph, Johnson said, “I think a huge, huge number of people feel totally excluded from capitalism, from the idea of homeownership, which is so vital for our society. And we’re going to fix that – “Generation Buy” is what we’re going for. We need mortgages that will help people really get on the housing ladder even if they have only a very small amount to pay by way of deposit, the 95% mortgages. I think it could be absolutely revolutionary, particularly for young people.”

EXPERT COMMENT The hard task of getting that first foot on the property ladder is pretty clear when you look at the current average deposit paid by first time buyers and what this equates to in pounds and pence. The availability of a 5% option would present a considerable upfront saving regardless of where you’re looking to buy and would certainly make the initial financial obstacle of a mortgage deposit easier to overcome. Of course, it does also require first time buyers to borrow a larger sum which will inevitably cost them more in interest further down the line. We also need to wait for the small print that will no doubt accompany the Government’s latest proposition and any restrictions there might be in terms of price thresholds, earning considerations and locations. However, on the face of it, it should provide a welcome boost for first time buyers. We’ve seen the huge impact the Stamp Duty holiday has had on buyer demand and we will no doubt see a similar uplift should a 5% first time buyer mortgage hit the market. The downside, however, is that this heightened demand will push up property values to the detriment of those it is trying to help in the first place.

Colby Short Founder and CEO of GetAgent. co.uk

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MARKET

Green homes EXPERT COMMENT The research from E.ON is encouraging because it highlights how we’re prioritising sustainable solutions in and around the home. People are naturally becoming more aware and conscious of their impact on the environment. They’ve spent more time at home than ever before

Recent studies show that buying an energy efficient home has never been so popular, and with new Government grants available, now is the perfect time to make your new home a green one. Ginetta Vedrickas discovers the options

and have inevitably become more aware of how they are using energy and of sustainable changes they can make.

Charlie Luxton Broadcaster &

HOUSE BUYERS CHOOSE GREEN SOLUTIONS OVER GREEN SPACE

STAMP DUTY SAVINGS SPENT ON “GREEN” SOLUTIONS

The pandemic certainly made most of us appreciate outside space, but a recent study shows that buying an energy efficient home is even more important to house hunters. Research from energy provider E.ON reveals that almost nine out of 10 (89%) prospective homeowners have become more interested in finding homes with sustainable solutions, such as solar panels and efficient boilers over having a garden (80%), en suite bathroom (50%) or a walk-in wardrobe (27%).

Temporary Stamp Duty relief announced earlier this year helped many first time buyers get on to the property ladder, but over three quarters (78%) of respondents said they planned to use these savings to implement sustainable solutions in their new home, with over a third (38%) choosing solar panels as the feature they’d be most willing to invest their cash in. With lockdown playing a big part in prospective homeowners considering sustainable updates at home, more than three quarters (77%) of those questioned admitted they’re more likely to buy a property that has sustainable solutions over one that doesn’t.

WORKING FROM HOME IMPACTS RUNNING COSTS E.ON’s study revealed that almost half of respondents (49%) say that spending more time at home during lockdown over the past few months has led them to consider buying a more sustainable home. Growing numbers of us have had to adapt to “the new normal” but working from home impacts upon running costs, especially as we head into chilly winter months. Their main motivations include; wanting to lower energy bills (65%), being more conscious of their environment (52%) and wanting to reduce their impact on the planet (50%).

Architectural Designer

EXPERT COMMENT There is so much to think about and consider when buying your first home. It’s the biggest purchase young people will make and at the time the focus is understandably on making sure a mortgage is in place and the monthly repayments are affordable. But mortgage repayments are only one element of the monthly outgoings new homeowners need to consider; energy bills, especially in the winter months, can be costly. Buying new can help reduce these costs, especially where

WAYS TO MAKE YOUR HOME GREENER Choosing an energy provider with electricity backed by 100% renewable sources is one way of achieving a greener home, says E.ON. The company aims to be “leading the energy revolution” by giving its customers 100% renewables-backed electricity, plus a range of sustainable home solutions such as solar panel installation and energy efficient boilers. The energy

additional sustainability measures have been incorporated.

Rachael Baillie Sales Director, Redrow South East

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MARKET provider teamed up with architectural designer and TV presenter Charlie Luxton to come up with other top tips for home buyers looking to make the home they buy more environmentally friendly. Luxton’s top tip is to look at basics and he suggests measures such as replacing all light bulbs with LED bulbs which can cut your energy bills. Another simple measure is changing your shower head to a low flow aerating one. This adds air into the water flow and can significantly reduce the amount of water used in a shower without impacting on your enjoyment. Luxton also advises helping to reduce water waste by changing your loo cistern to a low flush version or, if you have an older loo, you can retrofit a dual flush. Installing a smart meter is a great way of finding out how much energy you’re using, but Luxton warns that watching the display can become addictive! This is a great way to track your energy so you can adapt and become more efficient. Longer term measures include having the right insulation to ensure you are heating your home effectively year-round. Luxton warns that, in a typical home, the biggest area of heat loss is through the walls. By insulating externally or internally – either of which may have a slight impact on room size – you will transform the warmth and comfort of your home. His favourite tips include insulating the loft, which is cheap and easy, replacing windows with high-performance triple glazing where possible, replacing boilers, especially those over 12 years old, and sealing up all the unwanted cracks and holes in your home, as this is the next largest heat loss culprit.

GOVERNMENT HELP TO MAKE YOUR HOME GREEN This year the Government announced that help is available to make any home you buy more energy efficient. The Green Home Energy Grant scheme is now open for applications and Chancellor Rishi Sunak says that homeowners can get a voucher worth up to £5,000 – or £10,000 for lowincome households – to help install eco-friendly energy measures. The Treasury explained that, under the Grant, the Government will pay at least two-

thirds of the cost of home improvements that save energy. For example, an owner of a semi-detached or end-of-terrace house could install cavity wall and floor insulation for about £4,000 – the homeowner would pay £1,320 while the Government would contribute £2,680. Online applications for recommended energy efficiency measures are now open along with details of accredited local suppliers. Once one of these suppliers has provided a quote and the work is approved, the voucher is issued. greenhomesgrant.campaign.gov.uk

EXPERT COMMENT Today’s new generation of homeowners are not only worried about the lifetime costs of running their homes but also much more likely to be concerned that their homes reflect their principles around climate change. In addition to being concerned about the space and lifestyle that the home offers, they also want to ensure that their biggest financial investment correlates with their practical requirements for a low-energy home.

CRITICISMS OF THE SCHEME Not everyone believes that the Green Home Energy Grant scheme will make a difference to sustainability. Martin Lewis, founder of website Money Saving Expert, believes that the scheme has “systemic design flaws that will frustrate many”. Lewis explains that homeowners need to get quotes before receiving vouchers and installers are few and far between leading to what he calls a “postcode lottery”. So far, 900 firms have signed up to the scheme which Lewis says is “clearly not enough”. Only £2bn funding is available and there is a six-month deadline, with Lewis warning that “funds may dry up”. moneysavingexpert.com

GREEN HOMES AWARDS An awards scheme has been launched to commend companies that are leading the way in creating more sustainable homes to safeguard the future of the industry and enable it to contribute towards the net-zero carbon movement. The inaugural Homebuilding & Renovating Green Home Awards is now open with categories including energy saving measures, energy generation, sustainable materials and green innovation. Winners will be announced on Earth Day on 22 April 2021. greenhomeawards.com

Jason Orme Content Director of Homebuilding & Renovating homebuildingshow. co.uk

NEW BUILD HOMES ARE MORE ENERGY EFFICIENT Buying a new property is one way of ensuring that your home is environmentally friendly and has lower running costs, with many housebuilders now recognising how important this is to buyers. Redrow’s Regent Village, in Ebbsfleet Garden City is the latest phase of the 900home new community. Carbon reducing measures put in place here include solar panels, sustainable drainage and charging points for electric vehicles. Energy conservation measures include improved air tightness, high performance building fabrics and glazing and 100% low energy lighting. redrow.co.uk/regentvillage At Park View in Woodstock, Pye Homes recently launched 32 new homes with hedgehog highways, bee bricks and swift boxes to support wildlife. Pye’s MD Graham Flint believes that promoting biodiversity and retaining habitats for nature is as important as energy efficiency. Park View has been built in partnership with the Blenheim Estate, which Flint calls “part of the fabric of the local area”, and which, he says, has a vested interest in “maintaining green credentials”. All the homes at Park View feature intelligent heating and have an electricity smart meter fitted as standard, to help owners control their usage. blenheimestate.com

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EXPERTS

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

THIS MONTH’S PA N E L O F E X P E R T S Kerry Hicks Partner and Head of New Build Shared Ownership, Direction Law

Sandy Kelly Head of Sales, Onward Living

Gemma Harris Assistant Director of Sales and Lettings, CHP

T E S T T H E PA N E L

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

Stamp Duty Holiday

My partner and I are hoping to buy our first home through shared ownership soon and are trying to budget for additional costs. We know you have to pay Stamp Duty when buying a house, but have heard about a Stamp Duty holiday – what is this and how will it affect our purchase? Nicola Weston, Tonbridge

Stamp Duty Land Tax (SDLT) is a tax payable on the purchase price of a property. On 8 July 2020 the Government announced a Stamp Duty holiday until 31 March 2021. This means that no SDLT is payable on the first £500,000 purchase price for all buyers, with 5% being charged only on the portion above that. Prior to this, the rates were 0% payable up to £125,000, 2% from £125,001-£250,000 and 5% from £250,001-£925,000, although first time buyers paid zero on the first £300,000. So how does this affect your shared ownership purchase? Well firstly it depends on the type of purchase.

With a resale purchase, SDLT is paid on the price of your share. So, for example, if your share price is less than £500,000 you would pay zero duty, which will generally be the case. When purchasing a new shared ownership lease, you can choose to pay SDLT on the full market value or on the premium paid for the share and the rent you are paying. If you pay on the full market value, you are exempt from paying SDLT on any future staircasing transactions (staircasing is when you buy further shares in the property). However, if you only pay SDLT on the premium/rent, you may end up having to pay SDLT in the future when you staircase. With the changed rules, the full market value option is now more affordable or even free if the property is worth less than £500,000, as purchasers won’t have to pay SDLT when they first buy or on any future staircasing transactions. This makes buying a new build shared ownership property an even more attractive proposition than it was before, so it’s worth getting your purchase completed before the deadline! To find out more on Direction Law, visit directionlaw.co.uk Kerry Hicks

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EXPERTS

Will I have enough deposit?

I am interested in looking to buy my first home and really want to buy now while I don’t have to pay Stamp Duty, but I’ve heard that I might struggle to find a mortgage unless I have at least a 10% deposit. I have looked into shared ownership as this will be the only way I could afford to buy, but I’m worried that I don’t have enough of a deposit to buy before the Stamp Duty threshold is lowered again next April. What should I do? Ellie Branton, Southend-on-Sea The Government’s decision to raise the Stamp Duty threshold to £500,000 until 31 March 2021 (meaning that if you buy a home for less than £500,000 there is no Stamp Duty Land Tax to pay), has been the deciding factor for many people to look to buy a home now. The range of mortgage products available to people with lower deposits has reduced, so we are all interested to find out more about the new 5% deposit mortgage scheme announced by Boris Johnson in early October. In the meantime, the benefit of buying a shared ownership home means that you only need a deposit for the share of the home you are buying. To give you an example, on a home worth £250,000, if you were buying the home at the full market value with a 10% deposit you would need £25,000. If you were to buy a 35% share in a home worth £250,000, then your share would be £87,500 and a 10% deposit on your share would be £8,750. This makes it far more achievable and more affordable to those on lower incomes with smaller deposits! M y advice to you would be to look at the different web portals advertising shared ownership homes for sale in your desired location, including helptobuy.gov.uk and sharedownership.net.

At CHP we have a fantastic range of one, two and three bedroom apartments and houses for sale across Essex in great locations to suit everyone, so you can always visit chp.org.uk to take a look there too! If there are homes that catch your interest I would recommend that you contact the provider for more information. It may be that you have your own mortgage lender or independent mortgage adviser in mind, alternatively you can ask the provider to give you the details of its panel of mortgage advisers who specialise in shared ownership. Either way, they will be able to confirm affordability and advise you of the mortgage products available to you with the level of deposit you have, to help you determine whether buying a home before the Stamp Duty threshold increases in April 2021 is a possibility for you. Gemma Harris

Small Deposit

I am a first time buyer and I can’t wait to step on the property ladder. I am rather worried though as I only have a small deposit. Please can you advise what my options are? Louise Turner, Liverpool

In recent months, it has become increasingly difficult for buyers with lower deposits to secure mortgages and many lenders have withdrawn 95% and 90% loan to value (LTV) mortgages. Even if you or your mortgage broker are lucky enough to find one of these deals, the rates are likely to be considerably higher than if you had a 15% or 20% deposit. In addition, the Stamp Duty holiday that was introduced by the Government in July is great if you are buying a £500,000 home and can save £15,000 in SDLT but on the flip side, lots of buyers are missing out due to increased competition for properties in the resales market – especially now

that the March 2021 deadline is looming. However, the good news for first time buyers is that Government schemes such as Help to Buy and shared ownership will still be available after March with a 5% deposit, making buying a new build home a very attractive proposition. Regional property price caps for Help to Buy will be introduced in April 2021, which will be £224,400 for anyone buying a new home from Onward Living in the North West. The deposit required for a Help to Buy purchase would therefore be £11,220 and there is no maximum income cap. But if you are a first time buyer with a smaller

deposit and are looking at properties above the Help to Buy cap, then shared ownership could be an option for you provided that your household income is less than £80,000 (£90,000 in London). You only need a deposit on the share that you buy, not on the full value. So, a 5% deposit on a 40% share of a £300,000 property would be £6,000. You would pay rent on the unsold share and could staircase up to full ownership in the future. There’s lots of information about both of these options at onward-living.co.uk Sandy Kelly

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

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

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

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

BUYING A NEW HOME OFF-PLAN

FUNDING OPTIONS

JARGON EXPLAINED

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

EQUITY LOAN

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

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

Shared Ownership or Part-Buy, Part-Rent The Government shared ownership scheme is available for households with an income of up to £80,000 (or £90,000 if buying in London.) The scheme allows you the chance to buy as little as a 25% share in a property and pay a subsidised rent on the rest. Rent is calculated at 2.75% (sometimes less), with annual increases of RPI + 0.5%. In most cases, you can buy more shares after you move in with the opportunity to own the property outright. This is called staircasing. The mortgage deposit you’ll need to buy with shared ownership is calculated on the share value; this works out at a lot less than if you were buying outright. There are a few less well known Governmentbacked schemes; more details of these can be found on ownyourhome.gov.uk:

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

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

Older People’s Shared Ownership (OPSO)

PRIVATE INITIATIVES

*NEW!* First Homes

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

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

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

Home Ownership for People with Long Term Disabilities (HOLD) 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.

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

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

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The ftb process

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

TIPS

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.

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

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.

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

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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.

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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).

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BUYERS’ GUIDE

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

DISBURSEMENTS

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

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

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

EARLY REPAYMENT CHARGE

ARREARS

EQUITY

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

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

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

BROKER

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

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

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

FREEHOLD

BUILDING SURVEY

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

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

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

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

CONVEYANCING The legal process of transferring ownership of a property.

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

GAZUMPING

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

HIGHER LENDING CHARGE If you take out a large mortgage on a property, some lenders may charge a one-off extra fee. This funds an insurance policy that protects the lender (not you) from the additional risk.

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

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

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

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

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

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

STAMP DUTY Stamp Duty is a shortened name for Stamp Duty Land Tax, also called SDLT. This is a Government tax you may have to pay when you purchase a new property. Your solicitor or conveyancer will organise the payment for you.

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

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LEGAL

The difference between freehold and leasehold When you buy a property, you will either buy a freehold or a leasehold interest in that property. Here Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors LLP, looks at the difference between freehold and leasehold and what this means to the first time buyer and the conveyancing process.

As starting point it is worth noting that there are three tenures (tenure means the way in which you hold a property) and these are freehold, leasehold or commonhold. However, for the purpose of this article we will discount commonhold as it is extremely rare. Typically, a house will be freehold and a flat/apartment will be leasehold (although occasionally a house may also be leasehold).

FREEHOLD Owning a freehold interest in a property means you own the building and the land it stands on outright. As noted above you will only be a freehold owner if you buy a house (you may also have a share of a freehold if you buy a leasehold and this is covered below). As a freeholder,

you will be responsible for maintaining your own property and the land you own. If you own a freehold property you will not normally have to pay any rent since you already own the land on which the property is located. However, the property may still be liable to make other contributions. An example of this would be if the property is part of an estate with a liability to contribute towards the cost of a third party or management company maintaining the shared parts of the estate (such as roads, pathways and any communal facilities or landscaped areas). You may still be bound by restrictive covenants (obligations you must observe) for example not to carry out alterations without consent; however the restrictive covenants are typically far less restrictive than with a leasehold property and your conveyancer will advise you accordingly.

LEASEHOLD If you own a leasehold interest in a property then this means you

have a lease from a landlord/freeholder to use the home for a number of years. You do not own the land on which the property sits but instead rent this from the landlord. Below we consider the key elements of owning a leasehold property: Rent – normally you would pay an annual ground rent to the landlord which ranges from a peppercorn (which essentially means no ground rent is payable) up to a few hundred pounds per annum. Care needs to be taken as to the amount of the Ground Rent and how and when this increases as this has become a key concern recently which can affect the ability to obtain a mortgage and/or re-sell the property. Your conveyancer will be able to advise you on this point. Term – the lease will be granted for a term of years on the initial grant. It is common to see leases which were originally granted for 99, 125, 250 or 999 years. The longer the term the better, although provided there is an adequate term remaining this is acceptable. As a lease term diminishes, the property

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LEGAL

theoretically becomes less valuable. As a lease gets closer to having only 80 years remaining it becomes harder to sell and you may need to consider extending the lease at that stage or before. Rights for the benefit of the property – the lease should grant you all the necessary rights you need to use the property. This will normally include rights of access, rights of support from the building in which the property is located, rights to use any common areas (shared areas) including hallways, staircases, communal gardens etc. Rights which the property is subject to – the lease will contain rights over the property in favour of the landlord and others. This will normally include any rights of access which are necessary, rights of support to the other properties in the building etc. Covenants which the property is subject to – the lease will contain covenants (or obligations/regulations) which must be observed. For example, there may be restrictions or requirements you must observe when you wish to sell the property, there may be restrictions on carrying out alterations, or there may be restrictions on whether you can keep pets at the property. You should advise your conveyancer if there are specific requirements you have (for example if you keep pets and wish to take these to the property with you) so they can check the covenants as early as possible Covenants the landlord must observe – the lease will contain any covenants/ obligations the landlord (or management company) may have to observe for the benefit of the property. These will typically include a requirement on them to insure the building (although you will need your own contents insurance), a requirement to maintain and repair the structure of the building and the common (shared) parts, and to enforce covenants against other owners etc. Service charge – the lease will normally contain a provision requiring you to pay service charges towards the cost of the landlord (or management company) in performing their obligations and any associated administration/management charges. Generally, you will be required to contribute a fair proportion (with other owners in the building and on the estate) of all services provided by the landlord (or the management company). These are normally paid in advance either monthly, quarterly, half yearly or annually as the lease requires. Your conveyancer will check the terms of the lease and the key elements outlined above and will ensure that this provides you with the rights you require and that there

are no covenants/restrictions which will be detrimental to the mortgageability or your ability to re-sell the property.

WHAT ELSE IS DIFFERENT IN THE CONVEYANCING PROCESS WHEN BUYING A LEASEHOLD PROPERTY? While the conveyancing process (the legal process of transferring property from one party to another) follows a similar path to that of buying a freehold property, there are some key differences. Your conveyancer will raise enquiries for the landlord to answer (often referred to as Leasehold Property Enquiries – LPE1). This form asks the landlord to provide items such as a statement of the current leaseholder’s account, three years’ previous service charge accounts and a current service charge budget, details of any upcoming works or items of upcoming expenditure etc. Your conveyancer will report to you on the replies that are received and any concerns resulting from these replies. If the service charge accounts indicate a possibility that there will be a shortfall in the service charge collected for the current year, a request will be made of the seller’s conveyancer to retain a suitable sum from the net sale proceeds for an appropriate period of time to meet any shortfall once the final service charge accounts have been prepared. On completion, you will normally have to refund the seller for any service charge, ground rent or other leasehold charges they have already paid to the landlord in advance, and you will normally also have to pay a fee to notify the landlord that you have taken ownership of the property and that you have taken out a mortgage over the property.

DIFFERENT TYPES OF LEASEHOLD (INCLUDING OWNING A SHARE OF THE FREEHOLD) There are different types of leasehold ownership depending on the size of the building/estate and the legal structure. For some properties, especially with

smaller developments, you may also be given a share of freehold – this can be directly as a named owner on the freehold or by being granted a share in the management company/landlord which owns the freehold title. Or there could be an external landlord where you are not given a share of the freehold. In this case there may be a management company which manages the building/estate and you may or may not be asked to become a member or shareholder in this company. Sometimes your landlord may only have a leasehold interest themselves where they hold a lease from a superior landlord. If this is the case you will be required to observe the terms of both your lease and any superior lease(s). All of the above options are perfectly acceptable provided that the lease provides the necessary term and rights you require for the property and there are no onerous conditions. Your conveyancer will advise you in detail of the leasehold legal arrangements.

SUMMARY It is clear that it is preferable to own a freehold property; however flats and apartments are normally financially more within reach for the first time buyer and therefore many first time buyers will find themselves buying a leasehold property as their first home. Leasehold is a perfectly acceptable tenure, but can be a little more costly at the outset in terms of fees payable due to the additional costs and the extra work involved. It is also worth noting that you have less control over the ongoing outgoings (ie you do not set or control the service charge) compared to a freehold property. Often the conveyancing process for buying a leasehold property can be a little slower than it is if you are buying a freehold property due to the additional enquiries which need to be raised. If you are buying a leasehold property then you should ensure you instruct a conveyancer with plenty of leasehold experience to ensure that you are properly advised.

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

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

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

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

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

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

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USEFUL CONTACTS

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

NORTH

Shropshire Staffordshire

PlusDane

Warwickshire

Tel: 0300 790 0570

West Midlands

helptobuyagent1.org.uk

Worcestershire

Cheshire

SOUTH

Cumbria Durham

Radian

East Riding of Yorkshire

Tel: 0800 456 1188

Greater Manchester

helptobuyagent3.org.uk

Lancashire Merseyside

Bedfordshire

North Yorkshire

Berkshire

Northumberland

Bristol

Tyne and Wear

Buckinghamshire

South Yorkshire

Cambridgeshire

West Yorkshire

Cornwall Devon

MIDLANDS AND LONDON

Dorset East Sussex Essex

bpha

Gloucestershire

Tel: 03333 214 044

Hampshire

helptobuyagent2.org.uk

Hertfordshire Isle of Wight

Derbyshire

Kent

Herefordshire

Norfolk

Leicestershire

Oxfordshire

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Surrey

Nottinghamshire

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Rutland

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ADVERTISE HERE Speak to our advertising team to find out the best ways to give your organisation maximum exposure. Call 020 7258 0036 or email lynda@firsttimebuyermag.co.uk

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

LONDON Catalyst Housing

Octavia Housing

BMA Property Group

Hastoe Housing

Optivo

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bmapg.com

Association

optivo.org.uk

020 8354 5500

020 8942 4062

hastoe.com

0800 012 1442

homesbycatalyst.co.uk 0300 456 2099 Clarion Housing

Southern Home Ownership shosales.co.uk

0300 123 2250 Optivo

Chelmer Housing Partnership

optivo.org.uk

chp.org.uk

Home Group

originhousing.org.uk

0800 012 1442

0300 555 0500

homegroup.org.uk

0300 323 0325

myclarionhousing.com/

01235 515 900

Origin Housing

0300 555 2171 Sovereign Housing sovereignliving.org.uk

0345 141 4663

0300 500 0926

sharedownership

Origin Housing

CHS Group

020 7378 5638

originhousing.org.uk

chsgroup.org.uk

Housing Solutions Group

Association

0300 323 0325

0300 111 3555

housingsolutions.co.uk

orwell-housing.co.uk

Stonewater

0800 876 6060

0345 601 0030

stonewater.org

Estuary Housing Association

Orwell Housing

01202 319 119

estuary.co.uk

Paradigm Housing

Clarion Housing

0300 304 5000

paradigmhousing.co.uk

myclarionhousing.com/

Hyde New Homes

PA Housing

0845 337 4877

sharedownership

hydenewhomes.co.uk

pahousing.co.uk

Swan Housing Association

Fabrica

Peabody

020 7378 5638

0345 606 1221

0300 123 2221

swan.org.uk

fabrica.co.uk

peabodysales.co.uk

0800 783 2159

020 7021 4842

Crown Simmons

L&Q

Paradigm Housing

crownsimmons.org.uk

lqgroup.org.uk

paradigmhousing.co.uk

Thames Valley Housing

Gateway Housing

Places for People

01372 461 440

0300 456 9998

0300 303 1010

Association

placesforpeople.co.uk

gatewayhousing.org.uk

01772 667 049

Estuary Housing

Metropolitan

Peabody

Association

metropolitansales.org.uk

peabodysales.co.uk

020 3535 2555

020 7021 4842

Moat

Places for People

Fabrica

moat.co.uk

placesforpeople.co.uk

0300 323 0011

01772 667 049

Notting Hill Genesis

Rosebery Housing

Flagship Homes

nhgsales.com

Association

0333 000 4000

rosebery.org.uk

020 8709 4300

0300 303 2500

tvha.co.uk

Sanctuary London

estuary.co.uk

Guinness Partnership

sanctuary-homes.co.uk

0300 304 5000

guinnesspartnership.com

0800 916 1444

0303 123 1890 Site Sales

fabrica.co.uk

Hexagon

site-sales.co.uk

0800 783 2159

hexagon.org.uk

020 8502 5758

020 8778 6699 Shepherd’s Bush Housing

flagship-homes.co.uk

Home Group

sbhg.co.uk

0808 168 4555

homegroup.org.uk

020 8996 4200

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

SOUTH WEST

01372 814 000 Aster Group

Nu Living Guinness Partnership

nuliving.co.uk

Sanctuary South East

buyanasterhome.co.uk

Southern Home

(South)

0800 819 9390

sanctuary-housing.co.uk

01380 735 480

Hyde New Homes

Ownership

guinnesspartnership.com

hydenewhomes.co.uk

shosales.co.uk

0303 123 1890

0345 606 1221

0300 555 2171

0345 141 4663

Islington and Shoreditch

Swan Housing Association

Housing Association

swan.org.uk

isha.co.uk

0300 303 2500

0800 131 3348 Cornerstone Housing

One Housing Group onehousing.co.uk

Soha Housing

cornerstonehousing.net

0300 123 9966

Soha.co.uk

01392 273 462

0300 131 7300 Thames Valley Housing L&Q

Association

lqgroup.org.uk

tvha.co.uk

0300 456 9998

020 8607 0550

Metropolitan

Wandle Housing

metropolitansales.org.uk

Association

020 3535 2555

wandle.com 0300 200 0120

Newlon Living newlonliving.co.uk

SOUTH EAST

0800 058 2544 Accent Group Notting Hill Genesis

accentgroup.org

nhgsales.com

0345 678 0555

0333 000 4000 Aster Group Nu Living

buyanasterhome.co.uk

nuliving.co.uk

01380 735 480

0800 819 9390

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USEFUL CONTACTS HELP TO BUY PROVIDERS 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

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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

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20 QUESTIONS Vicki Noon is Sales and Marketing Director at award-winning housebuilder Inland Homes. She has been with Inland Homes for more than 10 years and has spent her entire career in the industry. She says, “Inland helps people on to the property ladder by providing affordably priced, high-quality homes. My friendly and professional team has in-depth knowledge, local insight and scrupulous attention to detail that ensures we reach the highest standards. We’re ready to welcome you to your first home.”

20 QUESTIONS W i t h Vicki

Noon

What room at home is your favourite? My kitchen/diner. I have two grown-up sons and a younger daughter that live with me at home, so our kitchen/diner is the place where everything happens. It’s the hub of my home, and we all spend the most time in there. What’s your favourite gadget or technology at home? I love my Amazon Alexa. It does things instantly with voice activation, which means I don’t have to find a remote to switch the TV on and it’s easy to play my favourite tunes. What colour do you think everyone should have in their home? I think that everyone is different when it comes to interior design. I personally love the colour yellow, especially subtle shades, as it brightens up any room, but ultimately it is down to personal preference. As long as you pick a colour to match the space you have and the mood you’re trying to create, any colour that makes you happy is great. Which three people would you invite over for a housewarming party if you could have any guests? First on my list would be the comedian Rhod Gilbert. You can rely on him to make everyone laugh. Jennifer Hudson would be my second choice – she’s had an amazing career so I think we would have lots to chat about. She’s also an amazing singer so could provide a bit of live music too. Finally, I’d choose Brad Pitt because, well, why wouldn’t you?! What’s your favourite memory from your childhood home? Turning our garden shed into a private membership club with my sisters. We even made proper membership cards and everything! What interior trend do you hate? I’m a fan of most modern interior styles, but I have to say that I really don’t like the 1980s trend of frilled curtains and pelmets as they just remind me of my Nan’s curtains! Would you rather have a garden or a balcony? My first home had a balcony and I’ve now got a garden. I’ve enjoyed both – you need to be imaginative with the space you have. Do you prefer modern homes or period properties? I would pick a modern home. You don’t get any hidden surprises with a modern home such as damp or mould, and I love the fact that they are all fresh, crisp and have never been used before. Modern homes are also much more energy efficient.

Would you rather have a library room or media room at home? I really like music and have a large vinyl collection, so I would love a media room at home that I could use as a hideaway and listen to my favourite records. It would also give me somewhere to send the kids to watch their movies, so I get the downstairs TV to myself! Would you prefer a luxurious bathtub or a sumptuous shower? It would have to be a luxurious bathtub to relax in. I like using bath salts, bath bombs and scented oils to create a relaxing atmosphere. Would you rather live in the bustling city or in the country? Neither. I like living in the suburbs so that I can be well-connected to both the city and the country depending on what I need to do. If you were buying a property overseas, in what country would you buy a home? I’d choose to live in Portugal if I could. I have spent many years holidaying there, so I have a real soft spot for the Algarve and the beautiful weather and scenery there. Would you rather have a bigger property or a better location? It has to be a better location. You can do things to a property to make improvements and make it bigger, but you can’t pick up a house and move it to a different location. What is one thing you couldn’t live without at home? My piano. I used to play when I was a child and throughout my life I always wanted one of my own. It was the very first piece of furniture I bought when I moved into my first house. What’s your favourite way to unwind at home after work? I relax by going on long walks through local woodland. I like to get my app tracker out and monitor the number of steps I’m doing, and once I think I’ve done enough I sometimes stop at the local pub on my way back for a treat! What’s your favourite thing about your home? I’ve got an open-plan kitchen/diner/living space which is fantastic for socialising. I can be cooking in the kitchen and still talk to my friends and family. It really is the heart of the home. Where did you buy your first home? My first home was a two bedroom maisonette in Middlesex. It was in a fantastic location for my work at the time, as I could easily travel into London and out into the home counties too. What advice would you give a first time buyer? There’s lots of free advice available to help you through the process and I would encourage everyone to make the most of it. From finding your dream property to getting a mortgage, there are professionals available with lots of experience to guide you. What are your views on shared ownership and Help to Buy? Both are excellent schemes, helping buyers who may otherwise struggle to get on the property ladder find their dream home. It’s worth finding out whether it works for you. What are your views on the property market? We’re seeing an increase in demand following the easing of Covid-19 restrictions and with people looking to take advantage of the Government’s Stamp Duty holiday that ends in March. We’ve seen an increase of lots of first time buyers especially as they are deciding to make their move and make the most of Help to Buy. inlandhomes.co.uk

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ISSUE 86

DECEMBER 2020/JANUARY 2021

FIRSTTIMEBUYERMAG.COM