Guide type: Help to Buy
7th September 2016
So far, the various schemes available under Help to Buy have resulted in a 60% rise in the number of first-time buyers across the UK. Now in its third year, it has contributed to more than 150,000 home completions (March 2016 figures) and the Help to Buy ISA, introduced in December 2015, has given more than a quarter of a million first-time buyers a helpful boost in achieving their 5% deposit.
Former Communities Secretary Greg Clark stated: ‘Anyone who works hard and aspires to own their own home should have that opportunity and for many people, Help to Buy is turning that dream into a reality.’
The Help to Buy Equity Loan, which only applies to new-build properties, is found to be particularly popular in the South East, whereas in London the scheme is accountable for just 1% of all mortgage lending compared to the average of 3% across the country. However, following the implementation of London Help to Buy in February 2016, wannabe Londoners and those currently renting in the city, hoping that they won’t have to move out of the capital to secure their first home, may not have to despair for much longer. Purchasers will still only be required to raise a 5% deposit, but will benefit from a larger equity loan of up to 40% - compared to 20% if you’re buying elsewhere in the country under the scheme - from the government.
Recent figures are already showing that ‘four in every 10 people purchasing a new home in the capital are taking advantage of the low deposit scheme’.
Galliard is dedicated to providing quality homes in desirable locations, both in established residential areas and regenerating districts promising long-term capital growth. The below developments currently offer Help to Buy, with some featuring additional incentive offers such as a free furniture package, a one year service charge break and paid Stamp Duty.
For those looking to live within close reach of Central London’s thriving business districts, Grove Place in the beautiful, village-style suburban district of Eltham in the Royal Borough of Greenwich, is a superb choice.
Providing a variety of apartment styles ranging from one to three bedrooms, with the majority featuring access to a private balcony or terrace, residents will enjoy a tranquil lifestyle in a highly-contemporary new-build home.
As well as being bordered by gorgeously-landscaped courtyards and gardens, the development will be positioned just off Eltham High Street and only eight minutes’ walk from the mainline station for direct journeys to London Bridge in just 18 minutes.
Situated only a minute away from the River Thames Path Walk, the one, two and three bedroom apartments available at Marine Wharf East will be a fantastic opportunity for first-time buyers looking for a mix of marine life with city convenience.
Marine Wharf East will feature 1,800 square metres of public open space, with gorgeous landscaped grounds adding to the serenity of this new-build development. The apartments will be split between two principal residential blocks – Canary Point and Harbourside – which will all be expertly designed and fitted with all of the contemporary essentials needed to enjoy a relaxing, comfortable lifestyle.
Conveniently, Surrey Quays Overground station will be just a 10 minute walk away for journeys towards Canada Water, London Bridge and Canary Wharf, which is expected to welcome Crossrail services inn 2018.
Recognised by the Mayor of London as a key area of growth and regeneration, Colindale is one of North London’s most up-and-coming residential destinations; ideal for first-time buyers looking for a combination of community perks, excellent accessibility and the prospect of capital growth as the area continues to evolve.
Galliard’s Silver Works development will offer an impressive selection of one, two and three bedroom apartments in multi-level blocks – 13 of which will be disability-friendly – and six townhouses. Each property will boast access to private balconies or terraces, excluding the townhouses which will have their own gardens.
The development will be approximately 10 minutes’ walk from Colindale Tube station for Northern line services into Central London.
Boasting a town centre location, with four stations within a 20 minute walk from the development and Heathrow Airport a short drive away, Trinity Square will be a first-rate choice for first-time buyers. Now with Help to Buy, these starter homes will give aspiring homeowners a chance to get on the property ladder at an affordable price whilst benefitting from being in one of West London’s most thriving spots for regeneration and transport connections.
This office conversion will be expertly refurbished to feature state-of-the-art interiors and appliances to complement a modern lifestyle. The studio and one bedroom apartments on offer will all be designed to maximise on space and contemporary style, with selected studios set to include a TV swivel unit, dividing the living and bedroom areas whilst also permitting from both areas.
The closest station from the development is Hounslow Central, which offers Piccadilly line services towards Heathrow and Central London, with key destinations such as Tottenham Court Road only 22 minutes away. The neighbouring town of Hayes will also be introducing Crossrail services to its mainline station from 2018, adding to the potential for capital growth and improved accessibility.
Situated in the picturesque, historic town of Haywards Heath in West Sussex, the White House, now sold-out, proved popular with those looking for a contemporary home in the outskirts of the capital. The White House offered affordability without compromising on quality and convenience.
The one bedroom apartments offered space, style and comfort, with high-tech features including integrated kitchen appliances, video entryphone security and Sky+ accessibility (subject to subscription).
First-time buyers venturing outside of the capital, but hoping to still be able to commute in for work should not be swayed. Haywards Heath mainline station is just a five minute walk away from the development, with central destinations such as London Victoria accessible in less than 45 minutes.
Only two minutes inside of the M25, Kings Langley is a fabulous option for those looking to indulge in country living without sacrificing a long commute into the capital.
Galliard’s Pinnacle House is an office conversion sitting adjacent to the Grand Union Canal, offering splendid views and a wonderfully tranquil ambience. With a variety of apartment styles, the studio and one bedroom apartments will provide a comfort-inducing environment, with key features set to include integrated kitchen appliances and video entryphone security. Many of the apartments will also include a separate study which could alternatively be used as a nursery or spare bedroom.
The village’s mainline station will be just two minutes’ walk away, making this an ideal choice for commuters travelling into London. Watford Junction is just 4 minutes’ train journey away, whilst Euston is 23 minutes away.
This transformed office building, located approximately a 15 minute walk from the town centre, will be ideal for first-time buyers looking for a contemporary living space with exclusivity, accessibility and versatility.
With stylish fitted kitchens, luxurious bathrooms and refreshingly modern interiors, the studios, one and two bedroom apartments at Carlton House will suit those seeking refined style at a reasonable price in one of Bedfordshire’s most renowned commuter towns.
From Luton station, residents can travel directly to Central London’s St Pancras International in as little as 24 minutes.