HOTSPOT – HERTFORDSHIRE

establishing itself as a desirable location in its own right.

WHO LIVES HERE? Ware has a population of over 18,000 and is increasingly popular with families moving out of north London, looking for that extra bit of space or a positive change in lifestyle. The biggest employer in Ware is GlaxoSmithKline and there are plenty of employment opportunities in the town, but the close proximity to London means it is also a prime location for commuters. You can be on the underground in less than half an hour and there are twice hourly services from Ware station to London Liverpool Street. WE L  VE HERTFORDSHIRE • Unbeatable rail and road links • Loads of green space • Fantastic independent shops and restaurants to explore • A range of areas each with their own character • Stansted and Luton airports local for a quick getaway

SHOPPING

Gazebos, Ware

Shopping in the town centre is based around the historic high street which

proudly boasts thriving independent shops. Mr Simm’s Olde Sweet Shoppe is very popular, selling both traditional sweets and catering for the growing demand for imported American brands, while The Book Nook is a newer addition to the town and incorporates a cafe into the friendly book store. There are also two big supermarkets in the town, conveniently located just off the high street.

DRINKING AND EATING OUT

Ware is home to some excellent restaurants, not least The Sea Tree, an alternative fish and chippy serving traditional dishes along with a

range of fresh seafood. There are also plenty of

smart restaurants for cosy nights out. While Ware is somewhat limited in options for nightlife, that is part of what helps it to retain its small-town charm. Luckily Hertford, Ware’s noisier neighbour, is a mere four miles away and has plenty of options.

LEISURE

The town’s main sport offering is Wodson Park, a leisure complex which includes an athletics track, sports halls and courts and a fitness suite. Fanshawe Pool & Gym is also highly rated, but swimmers in the town are best served in the summer months when Ware Lido attracts the crowds. The town’s positioning on the River Lea allows for picturesque walks along the waterside and the famous gazebos on the banks are an historic feature unique to Ware.

STEVENAGE

Stevenage was designated to be the first of the UK’s post-war New Towns. Seven decades on, a new £1bin regeneration project is breathing fresh life into the town.

WHO LIVES HERE?

Somewhat ironically for a town whose original purpose was to get people out of London, Stevenage is the perfect base for those travelling into the city. During rush hour, commuters benefit from trains every eight minutes, with the fastest journeys taking only 19 minutes. Stevenage has been listed as one of the top 10 most affordable commuter towns in the UK and there is a fantastic range of properties at prices significantly below those in surrounding areas. There are a further 1,100 new homes being built in Stevenage by 2021, with thousands more to follow, offering even more opportunities for first time buyers to set up home in the town.

SHOPPING

Stevenage has a number of established shopping areas including the town centre, retail parks and the Old Town. The town is already home to major household brands including Debenhams, Next and Primark and the regeneration programme promises to bring even more brands to the town’s central areas with the Town Square North Block project first on the list.

DRINKING AND EATING OUT

Many well known restaurant and pub chains, including ASK, Beefeater and TGI Fridays, can be found in Stevenage and offer reliable food at reasonable prices. However, if you look beyond the everyday offerings there are some unique eateries to explore including a traditional pie and mash shop, Mack’s, in the market square. The nightlife in the town centres on the high street, with multi-purpose venues like the popular Cinnabar which transforms from a relaxed cafe to a cocktail bar and club.

LEISURE

One of Stevenage’s biggest appeals is the opportunities it offers to those looking for an active, outdoors lifestyle, and Fairlands Valley Park alone is enough to understand why. The nine-time winner of the Green Flag Award offers sailing lakes, zip wire lines and access to water sports facilities within its 120 acres of green open spaces. Those looking to enjoy a healthy lifestyle in the town are well served by local clubs including tennis, cricket and hockey. Stevenage also benefits from 40km of segregated cycle networks, inspired by Dutch infrastructure, offering residents safe and sustainable travel around the town.

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MORTGAGES JON LORD, MD AT AWARD-WINNING SHARED OWNERSHIP MORTGAGE BROKER METRO FINANCE, GIVES HIS TOP TIPS TO GET THE BEST POSSIBLE MORTGAGE DEAL WHEN BUYING YOUR FIRST HOME

MORTGAGE FEAR?

Getting a mortgage is daunting, nobody knows how lenders work behind the scenes, everybody gets declined and the lender wants 18 years worth of paperwork! That’s sometimes the view of many first time buyers – it is a scary time, but there’s no need to think like this. Mortgage lenders do want to lend, if they didn’t, they wouldn’t survive – it’s as simple as that.

So how do you put yourself in the best position for a mortgage lender? Not just to get a mortgage, but to get the best possible deal.

HERE’S SOME USEFUL TIPS:

Who lives at your house? When a lender does their credit search, they want to see you on the voter’s roll, not Tommy Smith who lived there three years ago. It’s easy, check for yourself and get yourself registered, this will gain you some valuable credit score points.

Who’s taking all the risk? The lender wants you to take some risk too, in the form of your deposit. For shared ownership, there are 14 lenders out of 26 who accept a 5% deposit. The best bit, with shared ownership it’s 5% of the share, not the full value – eg for a 25% share of a £350,000 home, the deposit can be as low as £4,375.

How much do you spend on coffee? Maybe £3.50 per day, which equates to £1,277 per year! Yes, its nice to have a fancy coffee but what’s better, a shiny new home or a beverage? The more deposit you save, the better the rate will be.

How do you look on paper? This is really important; use a service like checkmyfile.com

which provides three different credit reports in one – just how lenders would see you on paper. You might think yourself a low risk, but if the credit file says

otherwise, that’s all that matters. See how much you owe, having credit is good for your score, but too much and

you’ll look overcommitted. Check for errors, if anything doesn’t look

right, contact the lender or the credit reference agency.

Look for missed payments, bring them up-to-date and try to keep everything paid on time. Mortgage lenders can still lend with minor blips, but the fewer the better.

No score or low score? So, you’ve checked your

credit file and your credit score

is in the poor category. You might not need to worry, some lenders, especially the Building Societies, operate a more manual approach, ignoring the credit score and focusing more on you as an individual.

Bank statements are boring? Not to a mortgage lender, they like to see how you run your account, this gives them an idea of how you’ll run your mortgage. Try to stay within any overdraft facility, try not to miss any regular outbound payments. Usually a lender will ask to see the last three months of statements.

Know your income? Nowadays it’s rare to find someone with a pure basic salary, and make it your job to understand your payslips, the bonus, the overtime – are they regular or guaranteed? This makes a big difference to your borrowing capacity. You’ll need the last three months of payslips and be ready to explain how your income is derived. Same for self-employed, it’s likely you’ll need two years’ tax calculations and tax overviews.

IN A NUTSHELL

• Prove where you live – get on the electoral roll and get your name on some bills

• Low utilisation of credit – eg if your card has a £1,000 limit, using just £500 of that would be 50% utilisation

• Pay on time – don’t be late with your regular outgoings; even arranged late payments have a poor effect

• Fix stuff – any mistakes on your credit file, identify and fix

• Don’t overdo it – credit is good for your score, but not too much

• Be prepared – keep your payslips, P60s, bank statements, utility bills etc

• Don’t get too many searches – applying for any type of finance or mortgage results in a credit search and too many of these can lower your score

At Metro, we speak to around 1,600 shared ownership buyers each month,

so we get a good idea of what lenders like and don’t like. You don’t have to be

perfect, but you can help yourself and improve your credit score.

And finally, the best advice – speak to a Mortgage Adviser Why? There are around 270 different shared ownership mortgage products, designed to help many walks of life. One or more could be right for you. Imagine a coffee shop with 270 different types of coffee, you might just need a bit of guidance? Unless you’re like me and just drink instant coffee – but I probably don’t realise what I’m missing!

COMING SOON

SO RESI UPTON SQUARE

Launching this summer is phase three of the popular SO Resi Upton Square development in Northampton, which will create 54 homes for shared ownership and a further 49 for private sale. A wide range of properties will be available, ranging from one to four bedroom homes, all finished to a high standard with carpets and kitchen appliances included in the price.

SO Resi Upton Square is on the outskirts of the town centre, but still within easy walking distance of lots of amenities, including a multiplex cinema, Northampton Town Football Club and a range of restaurants. The station is around 10 minutes away by car, with trains reaching London Euston in just over an hour.

The development is just around the corner from Upton Meadows Primary School, rated Good by Ofsted, and less than half a mile from the leisure facilities at Upton Country Park. Joggers and dog walkers will also appreciate the welldeveloped lakeside walks at Sixfields Reservoir, less than a mile away.

Sutton, London

Upton, Northampton

SO RESI

WALLINGTON

In the heart of the London Borough of Sutton, SO Resi Wallington is a collection of nine stylish two bedroom apartments at Cambridge Gardens in Wallington, launching spring 2020. The new homes will all come with an en suite to the master bedroom, and most also feature a private balcony.

The location is perfect for those who want to enjoy easy access to all the city has to offer, while enjoying a quieter pace of life. Hackbridge Station, in Zone 4, is less than a mile away, offering services from Southern Railway and Thameslink, with trains reaching London Victoria in 28 minutes. Wallington Station, in Zone 5, a similar distance away, offers direct services to London Bridge from 26 minutes. Three Ofsted-rated Good primary schools are within walking distance, and behind the new development lies Beddington Park & The Grange, a former deer park that now has picturesque woodland walks, strolls along the banks of the River Wandle, sports facilities and a cafe.

COMING SOON

SO RESI MILL PARK

Bustling Bracknell in Berkshire is on the up – a programme of regeneration has transformed the area into a thriving 21st century town, with one of the newest and most exciting retail and leisure areas in the country, the stunning new £240m The Lexicon, now up and running.

SO Resi Mill Park, at Wildridings Road in Bracknell, launches shortly, with a collection of 26 one and two bedroom apartments that are ideally situated to make the most of everything the town has to offer. Just a 15-minute walk away from The Lexicon centre and only 10 minutes from the railway station, with trains to London Waterloo in under an hour, SO Resi Mill Park is idea for commuters and families. The area has great public transport connections, including buses to nearby Ascot, and drivers can reach Heathrow in 25 minutes or Gatwick in less than an hour.

The new apartments enjoy access to a communal garden and are well finished inside, with fitted kitchen appliances, including a tall fridge-freezer, plus a washerdrier in the hallway cupboard.

Hackney, London

Bracknell, Berkshire

SO RESI HACKNEY CORNER

Waterside living in a prime London location comes courtesy of SO Resi Hackney Corner, launching in the spring. The development will comprise six one and two bedroom apartments near Bridport Place, overlooking the lovely Regents Canal. Residents all have access to a communal terrace on the ninth floor, which offers space to relax and unwind, as well as enjoy the views of the water.

These modern homes will be completed to an excellent specification, many featuring private balconies, and are ideally located in vibrant Hackney, home to a range of independent shops, restaurants, bars and cafes. The green spaces of Shoreditch Park and Rosemary Gardens are within easy reach, and residents will be just a 15-minute walk from Old Street underground station which offers services to London Bridge in around eight minutes. Cycle storage will be provided so residents can make the most of the borough’s extensive cycle network. The surrounding area is an impressive mix of historic and contemporary, with Victorian warehouses and cobbled streets contrasting with progressive modern architecture, making it a fascinating part of London.

COMING SOON

SO RESI STREATHAM HILL

Another great SO Resi development is launching at Palace Road, Streatham Hill, Lambeth, in the spring. SO Resi Streatham Hill will comprise 10 contemporary one, two and three bedroom apartments in this prime London location, many featuring private balconies to offer valuable outdoor space in the hustle and bustle of the city.

Streatham Hill station in Zone 3 is a 15-minute walk away from the new homes and has services reaching London Victoria in 18 minutes and London Bridge in 35 minutes. Services from nearby Streatham Common to Waterloo take from just 22 minutes. For evening entertainment, the buzz of vibrant Brixton is less than two miles away.

The area around these high-quality apartments has much to offer – the Streatham Ice and Leisure Centre has an ice rink, 25m swimming pool, sports hall and gym, while hardier souls can enjoy swimming outside all year around at the Tooting Bec Lido. Meanwhile, the jazz venue Hideaway offers live jazz, funk, swing and soul music as well as stand-up comedy nights.

Crowthorne, Berkshire

Streatham, London

SO RESI CROWTHORNE

This spring, SO Resi is launching an exciting new development in the village of Crowthorne in the heart of Berkshire. Residents of the upcoming collection of contemporary one and two bedroom apartments will benefit from many nearby amenities including shopping and dining facilities in addition to a range of good schools.

The village of Crowthorne offers a tranquil lifestyle, while its transportation links mean that those looking for more excitement can be in the buzzing city of London in just under an hour. The apartments are a short drive away from Crowthorne train station, making Reading just a 14-minute journey by train, and London Paddington only 50 minutes away. The location of this development, along with its excellent transport links, make it ideal for those seeking the perfect blend of both town and country.

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GLOSSARY OF TERMS CONFUSED BY FINANCIAL ACRONYMS AND INDUSTRY TERMINOLOGY? OUR HOME BUYING GLOSSARY IS HERE TO MAKE THE PROCESS A WHOLE LOT EASIER TO UNDERSTAND

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

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

ARREARS This is a term used to describe payments that have not been made on time.

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

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

BUILDING SURVEY A survey carried out by a qualified

surveyor to spot any structural problems or faults in the

home you are buying. day is when all money is transferred and you become the legal owner of your new home.

CONVEYANCING The legal process of transferring ownership of a property.

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

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

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

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

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

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

GUARANTOR A person, usually a parent, who guarantees that you can pay your mortgage repayments. You often need a guarantor if you are struggling to get a mortgage based on your own income. If for some reason you cannot pay your mortgage, your guarantor has to pay it for you. HIGHER LENDING CHARGE If you take out a large mortgage on a property, some lenders charge you an extra fee. This is because the more money you borrow the more of a risk the lender is taking.

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

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

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

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

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

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

STAMP DUTY Stamp Duty is a shortened name for Stamp Duty Land Tax. This is an amount of money that the Government taxes you when you purchase a new property. Your solicitor or conveyancer will organise the payment for you.

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