First Time Buyer – June/July 2019

the Ultimate Guide to... GETTING ON THE LADDER, THE PROPERTY MARKET AND HELP TO BUY June/July 2019 £3.95 firsttimebuyermag.com

THE REVIVAL OF THE COUNCIL HOUSE

WIN!

A GTECH CORDLESS LAWNMOWER WORTH £499.99

BUYING A NEW HOME? WHAT TO LOOK FOR

THE DIFFERENCE BETWEEN LEASEHOLD AND FREEHOLD

“New build homes come with a long list of practical reassurances and valuable peace of mind” Sophie Robinson

Ambassador, New Homes Week, interior designer, TV presenter FTB 01 Cover June-July19.indd 1

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EDITOR’S LETTER

E D I T O R I A L – 020 7258 0036

Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk Editor LYNDA CLARK lynda@firsttimebuyermag.co.uk Editorial Assistant DAWN HARKER Creative Director RYAN BEAL Sub Editor KAY HILL Social Media DAWN HARKER Contributors DAVID BLAKE, CHRIS CLARK, DEBBIE CLARK, ADAM CRAWFORD, DAWN HARKER, KAY HILL, BREAN HORNE, LAURA DEAN-OSGOOD, DONNA PILCHER, DANIELLE RICHARDSON, 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 Accounts DAVID SELF david.self@ultimateguidecompany.com

Welcome After what seems to have been a rather unpredictable spell of weather, I am hoping that we will have a lovely long summer.

Our FTB Readers’ Awards were a glittering success and I would like to thank everyone for all their support and for taking the time to vote. Do turn to pages 69-79 where you can see all the highly commended and winners and the highlights of the day. It was a marvellous occasion and has definitely become an important date in the property world’s calendar – we look forward to another great celebration in 2020.

We do hope that you enjoy the extra SO Resi magazine that you get with this issue. SO Resi offers affordable shared ownership homes from Metropolitan Thames Valley, which is dedicated to helping as many people as possible buy their first home. This magazine draws attention to some of its great developments and hotspots.

We know that buying your first home can be daunting and with so many things to consider it can be a very stressful time. On pages 22-26 we have outlined what to look for when buying a new house. With some very handy graphics, we hope it will help you make an informed decision on whether the property is right for you.

For anyone looking to buy in the North West, we have another Home Show on 7 September 2019 at The Union, Manchester Metropolitan University, so do go to ftbhomeshow.com for more details and to register. It is the perfect one-stop shop to find out everything you need to know to get a foot on the property ladder.

I hope you find this issue packed full of useful information to help you buy your first home.

Until next time happy house hunting

Managing Director SARAH GARRETT sarahg@spmgroup.co.uk Public Relations RACHEL COLGAN rachel@building-relations.co.uk SUBSCRIPTIONS 020 7258 0036 SWITCHBOARD 020 7258 1777 FAX: 020 7258 1787

firsttimebuyeronline EDITOR’S PICKS…

THE ULTIMATE GUIDE COMPANY LTD, 37 IVOR PLACE, LONDON NW1 6EA All advertising copy for August/September 2019 must be received before 12 July 2019.

Send all copy to: lynda@ firsttimebuyermag.co.uk The content of this publication, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior permission from the publishers. Opinions expressed in First Time Buyer magazine are not necessarily those of the publishers. © The Ultimate Guide Company Ltd 2008-2019. 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.

@firsttimebuyer

We’re going to take a good look around the area, at the schools, the town centre and the things on offer for families.

Flora Benson, House Hunter, page 14

I come from a family of builders so I was very keen to get on the property ladder.

Clare Nolan, At home with, page 12

Affordability is often the biggest concern for buyers looking in London.

Simon Halfhide, Developer’s Doctor, page 16

We were really impressed by the value the homes offered so we bought a two bedroom semi there instead.

The whole buying procedure can be intimidating, particularly for those going through the process for the first time.

Mark Gordon, Finance, page 92

Katie Woodhead, Revival of the council house, page 28

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CONTENTS

Cover photo © LucaSage

JUNE/JULY 2019 / ISSUE 77 / FIRSTTIMEBUYERMAG.CO.UK

What’s in…

59

For sale

64

Sarra and Gareth Davies were fed up with paying London rental prices and desperately wanted a home of their own. So with a lot of determination, saving hard and using the Help to Buy scheme they were able to buy a four bedroom house from Davidson Homes in Banbury, Oxfordshire.

16 Developer’s doctor

HOMEPAGE

Simon Halfhide, Sales Director at Redrow Homes, West London answers your property question.

9 FTB Loves...

A round up of our favourite hot buys.

10 Living

18 The View: Sophie Robinson

Bring some sunshine into your home with these gorgeous accessories and furniture in one of this season’s favourite colours – vivid yellow!

12 At home with…Clare Nolan Gardening expert Clare Nolan has just published her second book,

10

In Bloom, which is brimming with inspirational ideas and tips for growing, harvesting and arranging flowers all year round. She talks to Lynda Clark about her passion for growing your own, her fascinating career and gives some excellent tips for first time gardeners.

14 House Hunter We try to find Flora and Richard Benson a family home in Essex.

4

Sophie is one of the industry’s top interior designers and is ambassador for New Homes Week, which is dedicated to the numerous benefits of buying a new home. Her style is very colourful and homely and she will be giving advice on how to personalise the space and which colours, furniture and accessories to consider buying. She talks to Lynda Clark about her first home and what New Homes Week is all about.

FEATURED

22 What to actually look for when buying a house With the help of some useful graphics from RubberBond, Debbie Clark considers what are the

22 important things to look out for when buying a new home so you don’t make any expensive mistakes!

28 Revival of the council house Local councils are beginning to join forces with developers or are setting up their own divisions to build new homes. Kay Hill looks at what they are doing and what is on offer.

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CONTENTS SOPHIE ROBINSON, PAGE 18

I AM SO EXCITED ABOUT NEW HOMES WEEK – I AM GOING TO HELP PEOPLE TO PERSONALISE THEIR SPACE AND I WILL BE CAPTURING THE EXCITING, CREATIVE INTERIOR OPPORTUNITIES THAT COME WITH NEW HOMES

18

Sophie Robinson

REGULARS

buyer

92 Je ne regrette rien!

READERS’ AWARDS 2019

There is nothing worse than buying your first home and wishing you had done things differently. Kay Hill looks at some of the mistakes first time buyers commonly makes and comes up with some great tips.

First Time Buyer Readers’ Awards 2019 A chance to view the winners and highly commended in all the different categories, plus a round-up of the highlights from the day itself.

32 Hotspot

94 Market

We look at the benefits of Clapham as a place to live.

Newspapers have frequent scare stories about problems of quality in new homes. Ginetta Vedrickas looks at how new build warranties work and has some advice on how to choose a reliable building company.

54 Should I buy with a 5% deposit or keep saving?

ftbawards.com

87

69

Competition Win a Gtech Cordless lawnmower 2.0 worth £499.99

leading supermarkets with particular emphasis on products to suit the country’s vegans.

Which? mortgage expert Danielle Richardson explains the pros and cons of taking out a 95% mortgage.

86 How does your garden grow?

Discover the RHS Hampton Court Palace Garden Festival which returns this July and features a small public park created by developer Crest Nicholson and designer Aleksandra Bartczak dedicated to physical and mental wellbeing.

89

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

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

104 Legal Adam Crawford, Partner and Head of New Build Homes at Prince Evans Solicitors LLP looks at the difference between leasehold and freehold and what it means to ftbs.

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

88 First home, first meal

114 20 Questions

Paul Fletcher, Innovation Chef for Bar + Block Steakhouse creates a delicious Tira De Ancho, a delicious grilled beef marinated in chimichurri herb sauce. We test out the best BBQ food from the UK’s

The first in a brand new series where we ask 20 quick-fire questions to a property expert. We kick-off with Tony Harker, a sales and marketing professional who has recently started his own business consultancy.

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LETTERS

Mailbox SHOULD I PAY FOR A SURVEY? I am in the process of buying my first home and have paid for a lender’s valuation. Do I still need to have a survey done as I was told by a friend that the valuation that was carried out was my survey. Could you please clear my confusion up for me?

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

Danny Thompson FTB: This is a common question for first time buyers. It is important to remember that a valuation and a survey are different things. A valuation is a report that is used to to work out the value of the property which your mortgage will be secured against and is somewhat limited.

It is advisable to get a more detailed survey from a chartered surveyor which could highlight any important issues you may wish to consider before buying. You could opt for a RICS Homebuyer Report (HBR) or a structural survey. Both are detailed reports that will ensure that you are making this very important decision of buying a new home in full knowledge of the structural integrity of the building. It is worth paying that little bit more at this stage than suffer the potentially much more expensive consequences later on.

This issue’s star letter receives £25 worth of plantbased goodies from Gosh!

Food. The free-from and vegan food range includes delicious burgers, sausages, falafels and bites. Perfect eaten cold on-the-go, or as part of a nutritious meal, the range contains no nasty preservatives, artificial flavours or dodgy colour enhancers and is free from the top 14 allergens including – gluten, nuts and soya goshfood.com

HOW LONG DOES A MORTGAGE OFFER LAST? I have recently received a mortgage offer from a lender. I don’t know how long it will take me to finally purchase my own home however, and I am really worried that the offer might expire. How long does a mortgage offer last for?

Gavin Gilbert FTB: A mortgage offer lasts for the period of time that is specified by your lender. This

can be found in the mortgage offer that is given to you by your lender, which will set out all the terms and conditions of the mortgage offer. Completion of your purchase should take place by or before the offer expiry date. However, if during the transaction it becomes apparent that completion will take longer than expected for any reason, then a request can be made through the broker or solicitors for the lender to extend the offer expiry date if needs be.

BUYING A PROPERTY TOGETHER My boyfriend and I have finally made the big decision to purchase our own home together. Although this is a very exciting time, I am concerned about what would happen if things were not to work out between us for any reason. What are the potential consequences if this was to happen?

Sarah Greeves FTB: Indeed, buying a home with your partner is a very exciting time but you are sensible to think about these potential eventualities, even though they may seem negative. It is advisable to get a tenants in common agreement. If you co-own a property as tenants in common, each co-owner owns a specific share of the property. This is typically a 50% share each, however it is possible to hold unequal shares, especially if one of you is going to be putting down the majority of the deposit, for example. Your solicitor or conveyancer can put in the terms of the contract what proportion of mortgage repayments you are putting in, and any increase in equity to the property, which will give you both peace of mind that everything is being done fairly.

IS MY NEW PARTNER CONSIDERED A FIRST TIME BUYER? My new partner previously owned a house with her ex husband. After they split up, she was subsequently taken off the deed as he kept the house.

We are now going to buy a property together. Can we still be considered first time buyers or is a certain amount of time needed before we meet that criteria?

Nelson Gutierrez FTB says: Unfortunately it’s bad news in terms of qualifying as first time buyers as a couple.

As your partner has previously owned a property she cannot

be considered a first time buyer, even if she has been taken off the deed, and no amount of time will qualify her again as a first time buyer. This will also mean that you would not be eligible for the stamp duty exemption that first time buyers qualify for. I’m sorry that there can’t be more positive news in regards to your question but I hope that you can find a suitable place that you can live happily together in.

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

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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

Sundae any day of the week

From sweet and refreshing sorbets to smooth ice cream, this mini ice cream maker from Lakeland is perfect for whipping up your own frozen desserts at home. You simply pop the bowl in the freezer before use and then you can make a portion of ice cream in less than 30 minutes. We love that ingredients can be added during the churning, allowing you to experiment with your favourite flavours. The mini ice cream maker also comes with Lakeland’s three-year guarantee.

Mini ice cream maker, £19.99, Lakeland lakeland.co.uk

e i Escap k i T l a Tropic ter months, and Say goodbye to the cold win this exciting Tiki with style in mer sum e welcom ds and family frien r you g bar from George. Brin the summer sun! of t mos the e mak and together holidays in the tropics Relaxed vibes inspired by exotic escape. The an into den gar r you will turn and comes with er cov oor Tiki bar has an outd so all you need top, e tabl s glas ed hen a toug glasses, colourful to do is get some Tiki-inspired i Tai or two, and you decorations and make a Ma y the great outdoors. enjo to have the perfect way rge Home Garden Tiki bar, £249, Geo george.com

Mar el lous M Menavg o de l e rie Whethe r you’r

e lookin an eye-c g at ma atching king cen fun way to spend trepiece or just a a rainy this cho colate a afternoo nimal m n, is a gre oulding at way kit for th to spend time tog e whole family ether. Yo your im aginatio u can le t n ru a whole selection n wild and ma ke of cute c creature s. T hocolate y with two he easy-to-use kit come silicone s moulds and fea for the b ture mo ody ulds tha to make t enable a rabbit you , hen, fi Everythin sh or be g e. except fo you need is inc luded r the ch o colate!

Lakelan d anima l chocola £9.99, te mould Lakeland kit, lakeland .co.uk

A BREATH OF FRESH AIR

Freshen up your home with an Ashleigh & Burwood fragrance lamp! Ashleigh & Burwood is a mastermind when it comes to perfumes, and its outstanding scents, which range from spicy and woody to sweet and floral, are made using natural essential oil extracts. A flame is needed to start the reaction, which releases oxygen and negatively charged ions into the air.

These then remove odours, bacteria, mould spores and dust mites while adding an ambient fragrance. Using the lamp for half an hour a day will both purify the air and give a beautiful scent that will last for hours. These pretty mosaic lamps are not just practical, they also make a beautiful addition to any home.

Ashleigh & Burwood fragrance lamps, from £37.95, Ashleigh and Burwood ashleigh-burwood.co.uk

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Homepage LIVING

Here comes the sun

Bring the warmth of summer into your home with colourful yellow furniture and fun accessories. Perfect for adding a burst of sunshine, this bold and happy colour can be incorporated subtly with cushions and throws, or add a splash of colour with some eyecatching pieces in vivid yellow shades

Aluminium corner sofa set, £500; Global Monochrome wooden top table, £50; Global Monochrome floor cushion, £35; Global Monochrome outdoor rug, £15, Argos

Banana doormat, £22, Red Candy

Hedgehog clock, £25.95, Annabel James

Salt and pepper set, £12, The Contemporary Home

Arlo double bedstead, £349; Arlo compact bedside table,, £179; Capri side table, £99; tiger print bed set, £22.50; set of two cotton pillowcases, £7.50; cotton fitted sheet, £15; multi-weave rug, from £19.50; sun-baked floral mug, £5; two tone vase, £29.50; fig tree, £35; Aztec embroidered cushion, £25; Bird’s-nest plant in ceramic pot, £19.50; pink glazed planter, from £10, Marks and Spencer

Bees pattern cushion, cushion £38, Red Candy Lisbon cast iron griddle pan, £20, Sainsbury’s

16-piece Drury Lane cutlery set, £16, Sainsbury’s

Mustard dining chair, £89, John Lewis and Partners C ON TA C T S » Amara amara.com » Annabel James annabeljames.co.uk » Argos argos.co.uk » British Heart Foundation bhf.org.uk » Cult Furniture cultfurniture.com » Etsy etsy.com » George Home george.com » Hurn & Hurn hurnandhurn.com » John Lewis & Partners johnlewis.com » Marks & Spencer marksandspencer.com » Red Candy redcandy.co.uk » Sainsbury’s sainsburys.co.uk » The Contemporary Home tch.net » Very very.co.uk

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Homepage LIVING Sunny sunflowers duvet set, from £10; seaside cushion, £5; frayed yellow cushion, £6; sunflower cushion, £5; donkey cushion, £6; floral quilted throw, £20, George Ho me

Two-seater woven sofa, £650, Cult Furniture

Hedgehog mug, £9.50, Hurn & Hurn

Set of two Lisbon baskets, £24, Sainsbury’s

Lemon bowl, £14, Amara

Seaside cushion, £5; frayed blue cushion, £6; donkey cushion, £6; frayed yellow cushion, £6; ribbed textured cushion, £6; sunflower cushion, £5; geo tassel cushion, £6; daisy cushion, £6; pom-pom cushion, £10; woven striped tassel cushion, £6; bird cushion, £5; glass dispenser, £6, George Home

Custard Cream cushion, £32, Nikki McWilliams on Etsy

Mustard tripod table lamp, £20, George Home

Mustard hexagon table, £25, British Heart Foundation

Roxy velvet chair, £249, Very

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Homepage LIVING

At home with:

Clare Nolan Clare Nolan has had a real passion for gardening since she was a child.

She worked on interiors for many leading magazines and was a Lifestyle editor of the Mail on Sunday’s YOU magazine. She has just published her second book, In Bloom, which is brimming with inspirational photographs that Clare took herself and is full of clever ideas for growing, harvesting and arranging flowers all year round. She talks to Lynda Clark about her interesting career, her passion for growing your own and gives some useful advice to first time gardeners

“EVEN THOUGH I HAD VERY LITTLE MONEY I MANAGED TO CREATE MY OWN LITTLE GREEN OASIS. I MADE GIANT WOODEN PLANTERS FROM OLD SCAFFOLDING BOARDS AND SET THEM OUT ON TO THE CONCRETE IN THE BACKYARD TO CREATE A GARDEN – ALL ON A TIGHT BUDGET” 12

FTB: Tell us about your first home CN: I come from a family of builders and renovators so I was very keen to get on the property ladder. I bought my first place in Battersea, south London, which was a one bedroom garden flat. It took me about a year to find the property; the estate agents used to laugh at me and kept telling me that I wouldn’t get what I wanted for my budget.

Eventually a flat in my price range came up; a total refurb project, with an absentee freeholder so nobody wanted to touch it apart from developers – it went to sealed bids in the end. As my father is a builder he advised me and gave me the confidence to go ahead. It all worked out very well though, and eventually I managed to buy the freehold and reconfigured the space to add another bedroom. It had an outside space which was definitely a must for me and even though I had very little money I managed to create my own little green oasis. I made giant wooden planters from old scaffolding boards and set them out on to the concrete in the backyard to create a garden – all on a tight budget.

FTB: Tell us about your career CN: I studied fine art at university and after I graduated I came straight to London to work on lifestyle magazines. The sector was in its infancy at the time; titles like Red and LivingEtc had just launched. I’d written to my favourites asking if I could come and do unpaid work experience – it was way before formalised internships were even a thing.

I managed to get three work placements, a fortnight on each magazine. My first job on

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Homepage LIVING

Clare offers bespoke one-to-ones, as well as intimate group workshops to help you ‘reclaim and reconnect’ with your garden, establish a cutting patch, and style your home through the seasons. For more info, visit clarenolan.com @clarenolanuk

“TREAT YOUR OUTDOOR SPACE AS AN EXTENSION OF YOUR HOME; AN OVERFLOW TO YOUR LIVING SPACE – THERE ARE THE SAME DESIGN DECISIONS TO BE MADE” one was to clean out the editor’s fish tank!

On my final placement on the interiors desk of the Saturday Telegraph Magazine, I was offered my first job as an Interiors Assistant. It was so badly paid that I had to take a weekend job to pay for my travel and food – I worked in the garden department of The Conran Shop. Thankfully, I was able to stay in my sister’s spare room for a while so I didn’t have to pay rent while I found my feet. It was tough working seven days a week, but I did it for about two years, until I was promoted to Shopping Editor. After a few years freelancing, I became lifestyle editor for YOU magazine and stayed there for 14 years. Part of my work over the years has been training and mentoring which I really enjoyed and now I run one-to-ones and workshops to help people nurture and nourish their living space at home – both inside and out.

FTB: When did your interest in gardening start?

CN: I’ve been gardening ever since I saw my first red lettuce on a school trip to a market garden and wanted to grow one myself. I graduated to sunflowers and then tomatoes and by then I was completely hooked. Even when I was renting in London I was still gardening! In one place that I lived I re-sowed the lawn and in another place in Barons Court, where there were only window boxes, I grew tomatoes and

basil. There is nothing like the excitement you feel when you grow your own, and planting cut flowers takes it to a whole new level – being able to pick a handful of flowers, be it for yourself or to give to a friend, is a real joy. Even if you live in a tiny space you can still grow things in pots on a windowsill or balcony.

FTB: What is your current garden like?

CN: It is definitely a work in progress, but it’s a dream come true to be finally able to put my roots down in every sense. We have about a third of an acre and when we first moved in it was really a blank canvas with just a lawn and a copper beech and apple tree. We have planted the boundaries with yew and divided up the garden with hornbeam hedging to create a series of “rooms”. There’s now a vegetable patch, beds for cut flowers and planted apple and pear trees to create a mini orchard. This spring we built a garden studio which is where I run my workshops from.

FTB: What is your favourite flower?

CN: That’s a tricky question – each season brings new favourites, but the excitement of the first dahlia, rose or peony is very special. Flowers echo the cycle of the year and always bring a sense of hope – I love sweet peas too – I find it incredible that from a few seeds that cost around £2.50 you’ll be picking fistfuls of the most

beautiful fragrant flowers for about three months. I think I love sowing seeds and propagating the most – it’s so exciting to see things flourish and come to life.

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

CN: Give it a go, even if you think you’re not particularly green-fingered – plants want to grow – it’s in their nature. Allow yourself time and headspace to sit and plan your garden. Think about what you need; the boring stuff like storage, a washing line or a place for the bins. Then think about what you want; a space for a dining table or a chair to sit and relax and read a book.

Treat your outdoor space as an extension of your home; an overflow to your living space – there are the same design decisions to be made. Start with the boundaries; soften hard fences and camouflage ugly walls with climbing plants, like rose or clematis, or paint them a dark colour so they recede and seem to disappear. Bring some structure to the garden with a tree, or use hedges to divide and separate off areas or to screen any eyesores. When it comes to planting, try to think in terms of the seasons, so you’ll have fragrance and something beautiful to look at all year round – they’ll become your own seasonal markers to watch for through the year.

In Bloom by Clare Nolan.

Published by Kyle Books, £26.

Photography: Clare Nolan

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Homepage FIRST RUNG

The

HOUSE HUNTER

What we found…

THE RURAL SETTING Henderson Park Thorpe Le Soken

FROM £239,995

THE NEW COMMUNITY Base at Newhall Harlow

FROM £219,995

This month, FTB goes on the hunt with Flora and Richard Benson, who are after a family home in Essex

PROFILE

Names Flora Benson, 34, and Richard Benson, 32 Occupations Personal assistant, web developer Maximum budget £550,000 Requirements A two or three bedroom home with a garden and parking, close to good local amenities, schools and pretty countryside

What they wanted…

We are looking for a family home for us and our little boy, Archie. We’ve got another baby on the way, too, and we think it’s time we found a house big enough for us all. We’re currently in a two bedroom flat in Brentwood. We’ve always loved where we live, but it’s just too small now. With a growing family, we’d like to have a town centre and schools close by, but we love the coast and countryside, so are quite happy to consider the options. We both work in Chelmsford, but would only need to commute two or three days a week because of our working arrangements, so anywhere within an hour’s drive of work is fine. It’s really important to us that we’re close to plenty of child-friendly things to do in the area, and places to explore and keep the children entertained. We have a deposit of almost £55,000, and a budget of around £550,000.”

Located just outside the pretty village of Thorpe Le Soken, Henderson Park is home to a new collection of two, three and four bedroom houses. The three bedroom homes feature separate kitchen and living room, en suite from the master bedroom and a private rear garden. Local shops, schools, nursery and pub are within walking distance, while open countryside is in abundance.

The beautiful coastline is around a 15-minute drive or 10-minute train ride from Thorpe Le Soken rail station, which is located around a mile from the properties.

A thriving new community is being created at Newhall, Harlow, with the arrival of hundreds of new homes that sit alongside shops, open green spaces, a library and health centre. Homes include one to three bedroom apartments and two, three and four bedroom houses. Three bedroom apartments start at £319,995 and feature open-plan living/dining area, en suite from the master bedroom and hallway storage. All homes have allocated parking. The location is a perfect mix of town and country life – with excellent local facilities.

bellway.co.uk

countrysideproperties.com

What they thought…

What a pretty location this is! It’s quite rural, but with some really great facilities near by. We really like the style of the houses; they’re nice and bright, with plenty of space and we love the open-plan kitchen that opened out on to the garden. Richard is quite green fingered, but we’ve never had our own garden – so it really would be fantastic to be able to start planting flowers and maybe some herbs and veggies. It would be good to have an en suite from our bedroom, and certainly make things easier when we have a house full!”

This looks like a super convenient and interesting place to live – there are schools, shops and everything you need within walking distance, which is really quite appealing when you have little ones. The properties are lovely, too, and we like the contemporary styling of both the apartments and the houses – they’re fresh and modern, which is very different to our rather dated rented apartment. It would only be a 30-minute drive to work from here, too, which would mean less time driving and more time with the children.”

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I

THE VILLAGE LIFE Avondale Cressing

THE COUNTRY CONNECTION FROM £299,995

The Shires Bulphan

FROM £534,995

Homepage FIRST RUNG

First choice!

LDS

THE BEST OF BOTH WOR Rayne Gardens Braintree, Essex

This pretty new collection of family homes sits in the quiet village of Cressing, just 10 minutes from the bustling market town of Braintree.

The two, three and four bedroom properties have been created in a variety of styles, and with green space right on the doorstep, are perfect for getting out and exploring. The houses feature spacious separate kitchen and living room, a downstairs WC, and family and en suite bathrooms upstairs. Good schools, shopping and commuter links are in walking distance, while Chelmsford is around a 30-minute drive.

With countryside all around, and a great selection of local facilities, schools and transport, these three and four bedroom homes, in the process of development, are in a perfect spot for family life. The homes are beautifully designed, with period-inspired architecture and plush, contemporary interiors.

There’s plenty of space for family life, with bright, open-plan dining areas leading to a garden, a laundry room, extra storage and downstairs cloakroom. Upstairs, the bedrooms are well-sized, with bay windows and en suite bathroom to the master bedroom.

bellway.co.uk

redrow.co.uk

We have some family and friends who live close to Braintree, so we know the area quite well. Cressing seems like a lovely place to live and these homes really are very impressive indeed. We particularly like the layouts, with the downstairs toilet, which would be so handy. The garage is also a big plus – it would be just great to have this extra space.

And those lovely new kitchens would be a dream come true. I really love to cook, and could finally get out of our tiny kitchen and into a space to work my magic!”

These properties are in a really good location – it only takes 30 minutes to drive from there to the coast, and around the same length of time to get to work in the mornings, which means we would never have to spend too long getting anywhere. I love the idea of hopping in the car for spontaneous trips to the seaside with the children.

There’s also plenty of family friendly things to do close by, with a variety of parks and green spaces, cinema, and theatre, meaning we’d never be short of entertainment for the kids – as well as for us, too!”

FROM £369,995

e from elopment less than a mil When complete, this dev m roo bed ge of two to five Braintree will offer a ran tfully wing families. The though gro for t fec per properties, life n der mo h wit ed ign n des created homes have bee rear area opening to a private in mind, with the dining ages gar and , WC a downstairs garden, spacious rooms, isem a oy enj es hom age. The for parking and extra stor ute -min 15 a tre cen n tow ee rural position, with Braintr shops for an excellent range of walk or short drive away 20 und aro in d che d can be rea and amenities. Chelmsfor minutes by car. redrow.co.uk

THE NEXT STEP

“We are very, very keen on these homes and can see ourselves settling down here. We’ve registered our interest in the properties to get the ball rolling, so now we’re going to take a good look around the area, at the schools, the town centre and the things on offer for families, so we know we’ll be making a properly informed decision on our first family home!”

We just love the traditional look of these houses! They’re so pretty and spacious, and really perfect for family life. There’s loads of room downstairs with the separate areas, and the bedrooms are a really good size.

The location is good for us, too, with easy access to Braintree town centre, yet lots of lovely countryside and places to explore with the children right on the doorstep.

We think it really offers us the best of both worlds. We’ll be able to get to work quickly, there are really fast transport links to London from Braintree station, and there are good schools and beautiful surroundings, too!

We couldn’t really ask for more.”

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ADVICE

Simon Halfhide is Sales Director at Redrow Homes, west London.

He has over 30 years of experience in the housebuilding industry, with a wealth of knowledge about residential sales in both the UK and overseas markets. With all developments across London under Simon’s remit at Redrow being available with Help to Buy, he is well versed in both the challenges and benefits of being a first time buyer and getting on the property ladder in the capital

Q

I’m looking to buy my first home in London, but want to know the most affordable way of taking my first step on to the property ladder. Where in London can I find a home that is affordable and good value for money without compromising on travel time?

A

The London property market can often feel like a minefield when searching for your first home, but there are plenty of areas where you can maximise on affordability while also maintaining good connections to the West End, Canary Wharf and the City. Since the Government introduced stamp duty relief for first time buyers, and with an increase in flexible lending and the availability of Help to Buy, the future is looking bright for London’s first time buyers.

Affordability is often the biggest concern for buyers looking in London, but there are fantastic deals to be had in London’s outer zones and regeneration hotspots. But just because you aren’t living in Zone 1 or Zone 2 it doesn’t mean you have to compromise on journey time.

Homes near stops on London’s upcoming Crossrail line will benefit from quick connections to London’s major employment hubs and buzzing high streets, due to the huge investment going into these areas.

New homes at our latest development in Southall, The West Works, currently have connections to London Paddington in 15 minutes, and with Crossrail will have journey times into London’s Bond Street in just 17 minutes and London’s Canary Wharf station in only 31 minutes.

Exciting regeneration areas on existing tube lines are also ones to watch. Redrow is building 2,900 new homes at Colindale Gardens, as part of a £1bn plan to provide new homes, shops, cafes, and restaurants – breathing new life into this London suburb.

Homes here are just 22 minutes by train to London’s Kings Cross too.

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When looking for your first home in London it is also wise to make the most of schemes that can give you a helping hand, such as the Government-backed London Help to Buy. Although schemes like this can appear confusing, they are a straightforward way of affording your first property. You need a 5% deposit and be able to qualify for a 55% mortgage on the price of the property, then you can receive a 40% interest-free equity loan backed by the UK Government. It is also a common misconception that these offers are reserved for smaller homes, but Help to Buy

Simon Halfhide, Sales Director, Redrow Homes

is available on some of our three bedroom duplexes at Colindale Gardens, providing ample space for the whole family.

And just because you are buying your first home, it doesn’t mean that you should have to miss out on some of the luxury amenities that new build homes offer. At our Colindale Gardens development, there are over nine acres of parks, communal gardens and cycle paths, alongside cafes, restaurants, a gym, sauna and steam room.

Meanwhile, at our Padcroft development, underground parking is available for those who would like to bring their car.

Located in the up-and-coming west London suburb of West Drayton, Redrow is delivering a selection of one, two and three bedroom apartments that are just a stone’s throw away from West Drayton station. Although already superbly connected to London Paddington station, the area is set to benefit further from the arrival of Crossrail, which will bring both the West End and City of London within 30 minutes’ journey time.

The apartments are fantastically priced and are available with Help to Buy, but there is no shortage of high-end finishes throughout each of the properties; with the standard specification at an unmatched level. Each apartment offers an inviting blend of style and Padcroft, relaxation, and they come complete with a fully fitted West Drayton contemporary kitchen with integrated appliances, balconies and generous bedrooms.

Alongside the excellent commute and value for money, the development is located in Yiewsley, one of West Drayton’s most charming corners. The new homes are positioned a short walk from the beautiful Grand Union Canal, which provides residents with waterside walks, along with a fast-growing selection of cafés, pubs and restaurants. An abundance of local green spaces – including Brunel University Sports Ground and Langley Park – enable homeowners to enjoy the fantastic outdoor areas that the local area has to offer.

Remaining two and three bedroom homes are available from £410,000.

For more information, or to register your interest, contact Redrow on 020 3811 7699, or visit padcroft.co.uk

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THE VIEW

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THE VIEW

e l y t S h t i w n g i Des

Sophie Robinson is one of the industry’s top interior designers and is regarded as an expert with a keen eye for the latest trends. She is ambassador for New Homes Week, which is dedicated to the numerous benefits of buying a new home. Sophie’s style is very colourful, bold and homely and she will be giving advice on how to personalise the space and which colours, furniture and accessories to invest in. She talks to Lynda Clark about her first steps on the property ladder and her fascinating career Photos: Flossy Gibbon Photography

I

t was fairly inevitable that Sophie would become an interior designer. Her parents were, as she describes, “serial renovators” and they liked nothing more than buying a property, renovating it and then moving on to the next one. “My dad could turn his hand to practically anything and my mum was really creative. During the 80s she was into using lots of paint effects and stencilling which were very popular at the time. We moved around a lot and it was all very exciting.”

Sophie went to university and graduated with a BA Hons degree in 3D Design. When she left, she launched her own lighting design company, but although good fun, it didn’t make enough money for her to pay the rent! So she began assisting at interior design jobs which led to a career working on shopping pages in magazines before her first full-time job as an in-house stylist for the BBC Good Homes magazine. Then in 2007 she decided to buy her first property in Brighton.

She explains, “At the time, the housing market in Brighton was at an all-time high and prices were rocketing. I thought that I just had to get on the property ladder though. It was a crazy time as properties were going before the agents could even get the particulars printed out. The house I bought was over my budget, but the estate agent still took me to see it, as she knew I’d love it... and she was right.

"I had to borrow a bit more, but it was worth it. The house was sound and newly renovated but the interior decor was awful! It was full of paint effects in terracotta, but I knew I could have it looking how I wanted it in no time, as all it required was a lick of paint. I enjoyed slowly decorating and adding to it but I had to sell it in 2015 so we could buy our family house in the countryside.

“I eventually decided to go freelance which allowed me to work with lots of different magazines and my niche has always been to put stylish room schemes together, interpreting the latest trends, while always making it achievable for people to recreate. I have also done a lot of television work and was on The Great Interior Design Challenge on BBC2, which followed the progress of 24 amateur designers who were each given a different task of taking their first real client and redesigning a room in their home. They were observed by Daniel Hopwood and myself who were judges, and we looked for exceptional creativity, project management skills and the ability to accurately answer the clients’ briefs. I have also recently just finished filming DIY SOS for BBC1 and I am on a new interiors show for BBC2 called Interior Design Masters, which is presented by Fearne Cotton. It takes 10 fledgling designers, who over eight weeks have different challenges to tackle. They are confronted with a new space to transform like a restaurant, hairdressers and a hall of residence.”

Sophie now lives with her husband, eight-year-old son and their dog, Lucy, in a four bedroom Victorian farmhouse in the countryside.

It is set in five acres and they are in the middle of renovating it. “We have also built a new build annexe for my mum, which she absolutely loves. Having always lived in rather draughty houses she really is enjoying everything that a new build home has to offer. She helped to design it and so it has everything she has always wanted in it. She really loves the kitchen and the underfloor heating and it is very energy efficient too. It’s ideal as my mum is now retired and only has a finite amount of money and this place is totally cost effective too, so she can budget and has not got any nasty surprises like the boiler

"I THINK ESPECIALLY WITH A BRAND NEW HOME IT IS VERY IMPORTANT TO STAMP YOUR OWN INDIVIDUALITY ON IT. YOU ARE BUYING A BLANK CANVAS SO YOU ARE NOT GOING TO BE DICTATED INTO ANY PARTICULAR STYLE"

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THE VIEW

breaking down or finding some unexpected leaks somewhere.

"New build homes come with a long list of practical reassurances and valuable peace of mind. They come with 10-year warranties and the list of guarantees is vast. I am quite jealous of my mum living in a home where everything is new and untouched with freshly painted and plastered walls, a shiny kitchen and gleaming bathroom fittings. When you have a new build you really do have the opportunity to design the interiors with your very own style and put your particular stamp on them.”

Sophie has lots of practical advice for first time buyers who often have little money left for interior design after they have invested in a property. “My advice is to prioritise the rooms that make a real difference to your standard of living. When I have renovated houses I’ve often done the bathroom first so that after a hard day’s work, at least you can have a relaxing bath.

"If you simply paint the rooms white, you can get to know the space and imagine how you would like each room to look.

For example, how much natural light they get, and at what time of the day, will all influence your colour-scheme choices. If money is tight, choose neutral shades for flooring and big investment pieces like a

20

"EVERYONE HAS A VISION OF WHAT THEY WOULD LIKE THEIR HOME TO LOOK LIKE AND NOBODY WANTS IT TO LOOK LIKE ANYONE ELSE’S, SO MY AIM IS TO HELP PEOPLE CREATE THEIR OWN STYLE WITH MASSES OF FLAIR, INSPIRATION AND LOVE" sofa or kitchen units. You can add colour and interest over time with accessories and soft furnishings – and if you change your mind it won’t be too expensive to alter it.

Paint is probably the cheapest and quickest way to change a room, but don’t rule out wallpaper to give an injection of pattern and interest.

“I think especially with a brand new home it is very important to stamp your own individuality on it. You are buying a blank canvas so you are not going to be dictated into any particular style. If you are stuck on a colour theme then tap into what the latest fashion trends and shades are to give you inspiration, and you can always follow trendsetters on Instagram.

“I am so excited about New Homes Week – I am going to help people to

personalise their space, and I will be capturing the exciting, creative interior opportunities that come with new homes in a series of films which will be available to view on the New Homes website at newhomes.co.uk.

"Although it is so exciting when you first buy your property, everyone wants to make their new place into a home and designing and planning the interior and thinking about furnishing it, is really the fun part.

Everyone has a vision of what they would like their home to look like and nobody wants it to look like anyone else’s, so my aim is to help people create their own style with masses of flair, inspiration and love.” new-homes.co.uk sophierobinson.co.uk

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"I AM QUITE JEALOUS OF MY MUM LIVING IN A HOME WHERE EVERYTHING IS NEW AND UNTOUCHED WITH FRESHLY PAINTED AND PLASTERED WALLS, A SHINY KITCHEN AND GLEAMING BATHROOM FITTINGS"

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What to actually look for when buying a house

First time buyers are often told that when they find their dream home they will just get ‘that feeling’. While this is very often the case, it is important not to let that emotion cloud your better judgement or you could end up paying the price later on. Debbie Clark investigates and RubberBond has come up with some handy graphics outlining everything you should be looking at when buying a new home

H

ere we explore these points further, so that when you do find a property you are keen to offer on, you are as informed as possible before committing your hard-earned cash to the buying process.

THE OUTSIDE The temptation for many first time buyers is to head straight into a potential property, but always take time to view the exterior too. If you are viewing the property at night, be sure to return in the daytime for a better look. Visiting at a different time of day is also a good way to get a feel for any local parking issues.

Examine the walls for any cracks; extensions, end-of-terrace walls and bay

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windows are particularly vulnerable to movement, so deserve your close attention.

It is worth asking the estate agent or homeowner about these but, if there are any concerns, you will really need the advice of a chartered surveyor.

Look at the state of the roof and, if possible, find out how old it is – newer roofs have a life expectancy of only 15-20 years and replacing one can be a costly affair. If the roof is flat, check it is well sealed. External window frames are also a good indicator of the overall state of a property, so watch out for cracks and signs of rotting. Condensation between double glazing is another common issue so ask for certificates of fitting and if windows are still under guarantee.

The way a property faces is unlikely

to make much difference if you visit on a cloudy day, but could make a world of difference to how you would use the property, particularly in the summer months. A south-facing garden is highly desirable, however conservatories or rooms with bi-fold doors may suddenly feel uncomfortably warm on a summer’s day, so you will need to consider how you are likely to use the space.

An attractive garden can be a big selling point but consider how you will realistically maintain it. If the current owners are keen gardeners and you struggle to keep a pot plant alive, it is unlikely to look that good for long! Be alert to the presence of weeds too, especially Japanese knotweed which can cause untold damage and is a nightmare to get rid of.

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Infographics by RubberBond

CASE STUDY

The house may meet your current needs but it is worth considering if it would still work for you if your circumstances changed.

It is always good to be aware of any potential for development. One indicator of this is whether neighbours have extended so do have a look along the street and research local planning applications on the local council website.

THE INSIDE Once inside, it is important to remain as objective as possible. Don’t be afraid to ask lots of questions. It is also wise to ask if it’s ok to take photos – that way you can refer back to them later and see if the lounge really was that big or if the room was just cleverly dressed!

A property’s plumbing is a really important aspect to be aware of when viewing a property. Check that pipes aren’t made of lead and that they are insulated.

Look at where radiators are located and check that they, and the boiler, are working efficiently. It is also a good idea to run the taps to check the water pressure.

The electrics are an important consideration too. Be mindful of the presence of power points in each room – where are they and what condition are they in? Rewiring a property can be another unexpected expense, and can be very pricey.

This is more likely to be an issue in older properties as new builds are generally

designed for a plethora of modern gadgets.

Look out for cracks in the plaster – these may be hidden by well-placed pictures or mirrors so can come as a shock when you move in if you haven’t been vigilant. Damp can also be hugely problematic so it is well worth looking carefully for any indication of its presence. Obvious signs are a mouldy smell, flaky plaster and watermarked walls or ceilings. It is, of course, highly likely that sellers will have tried to hide the evidence, so be aware if the room seems to have been freshly painted and look closely around the ceiling and skirting boards. Pay close attention to the floors too, looking for any unusual dips or sagging. This is particularly important in the bathroom as it could be a sign of structural damage.

Storage space is often overlooked when designing a home, particularly in new build properties where space is at a premium.

Look out for signs of a shortage. Often it’s only on moving in that buyers realise they’ve got nowhere to store the ironing board! The size of individual rooms is also an important consideration, particularly if you already have furniture you plan to bring with you. If the property has an attic, do ask to see that too. It is useful to get a feel for how easy access is and how much usable space there really is. Check for loft insulation too as this can make a huge difference to heating bills.

Fixtures and fittings are often not considered until much later in the buying

Georgina, 27, had always dreamed of one day buying her own home. Having grown up around Fulham, she hoped to stay close to her roots. She said, “I always knew I wanted to buy. I watched my older brother buy his own flat and that really inspired me to do the same.

I inherited some money from family, but this wasn’t enough to begin searching for my first home, so when I graduated from university I moved back home to start saving. It was then I discovered my parents had been putting aside money for over 25 years as a nest egg to help me get on the property ladder.”

Georgina was keen to invest wisely and she found what she was looking for at Greenland’s Ram Quarter development, on the site of the former Young’s brewery in Wandsworth. Georgina explains, “When I found Ram Quarter I fell in love with its story.

I did a bit of research into other options and struggled to find better value flats on the market. I was looking at places in Acton and Sheen, but Ram Quarter’s history gave it the edge. A lot of new builds feel like ghost towns without a soul, but Ram Quarter feels like more of a community with a genuine sense of history.

“The apartments are really spacious compared to other one bedroom flats I saw and have lovely high ceilings. The flat I chose also has a balcony, which is a real plus.”

Thanks to her parents, Georgina was able to put in an offer on a one bedroom apartment while the development was still under construction. She made the decision to remain living at home, allowing her to save enough money to cover Stamp Duty costs and fees.

She added, “At the weekends it’s so nice to have everything I need on my doorstep. My family come over with our dog and we go for long walks along the River Wandle that runs by my apartment. Even my commute is better. I use the trains into Waterloo from Wandsworth Town and then swap on to the tube, which saves so much time compared to when I had to sit on the District Line into work.

One of the best things for Georgina is the peace of mind that comes with buying new. “For a first time buyer, I couldn’t recommend buying a new build enough.

Having the building guarantee is such a weight off your mind. I love it here and can see myself living at Ram Quarter for a long time to come.” theramquarter.com

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process but if vendors take everything with them you may suddenly have a big shopping list at a time when finances are already tight. Finding out if, for example, white goods are included in the sale early on can allow you to be realistic when budgeting for moving costs. Don’t be afraid to be a bit cheeky too – if there’s a particular light fitting that you feel really makes a space, ask if they’d consider leaving it!

It is easy to buy into someone else’s lifestyle when you view a property, but it is important to consider how the property will work for you and your needs. Simple things like what network your phone is can quickly become problematic and add unnecessary stress on moving day. If you don’t have a signal in the property, or it is poor, ask vendors what network they are on.

Broadband connection and speed may also be important to you so do enquire.

Finally, think about the security of the property. What are door and window locks like? This is not only important for your own safety but is taken into consideration when insuring the property and can significantly increase your premium if not up to expected standards.

when buying your new home. Ask what the neighbours are like. Of course, you are unlikely to be told if they are awful but a vendor’s face is likely to give away any real issues. Likewise if vendors have the

TV or radio on when you view, it’s worth asking them to turn it off so you know if soundproofing is an issue and you can hear neighbours’ conversations! On leaving the property, look at any trees which could block your views or sunlight. Do they belong to neighbours and have the potential to cause future issues?

At street level, be aware of any building work, scaffolding and signs of dilapidated buildings. Have a look at the local council website and get a feel for development in the area. Depending on where you are buying, this could be either a good or a bad thing, but it should definitely be on your radar as it is likely to impact on the demand for local services.

Looking beyond the street, public transport links can make or break a sale for many. This is particularly important if you rely on public transport for your journey to work, so do some thorough research into journey times and the reliability of services.

Consider other local amenities too. Are there shops within walking distance? If not, is this a problem given your lifestyle?

Where are the nearest pubs, restaurants and takeaways? Think about the future – living opposite the pub might suit you now, but that may well not be the case in five years’ time!

Noise levels in an area can be difficult to assess on a single visit to a property and can be caused by traffic, trains or even planes if the property is under a flight path.

Again, research is vital; extrium.co.uk maps noise levels and is a good starting point.

THE AREA The area is about the only thing you can’t change once you have moved in, so is arguably the most important consideration

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VIEWINGS Knowing where the local dump is located is also useful as it may be a source of undesirable smells if too close or cause congestion in the area, particularly at weekends.

Lastly, an awareness of wider local public services is important.

Are there reputable schools nearby? Do not assume that you will have moved by the time you need to consider schools – even if you don’t need them, future buyers are likely to, so take the time to visit compare-school-performance. service.gov.uk or similar websites to do some research. It is also useful to be conscious of local crime rates – the crime-mapping website police.uk is a useful site to get a feel for a new area.

Research shows that 74% of buyers visit a property more than once, with 11% visiting four or more times! Hopefully with this guide you are able to save yourself some valuable time and any unnecessary stress, and be confident in your position as a knowledgeable and well informed first time buyer.

BOW CREEK, E3 Three Waters

WHAT'S ON OFFER FROM £112,000*

SOUTHALL ARRO

ARRO, on the banks of the Grand Union Canal, will offer a mixture of studio, one and two bedroom apartments available through shared ownership and will benefit from its location close to the forthcoming Crossrail that will provide fast access to central London and the west.

The contemporary homes offer kitchens fitted with integrated Bosch oven and hob, fridge-freezer, dishwasher and washer-dryer. Floorcoverings include carpeting, tiles and wood-finish. Southall is a multicultural, vibrant and lively place to live with an array of award-winning restaurants, cafes, art and entertainment. Home to The Broadway, Southall is filled with boutiques, shops and a thriving market.

The development is also close to the 90-acre Minet Country Park, providing wildlife areas, a purposebuilt cycle circuit and plenty of open green space. Crossrail is set to transform the Southall. It will provide significantly faster journey times to key destinations such as Bond Street in just 17 minutes and Stratford in little more than half an hour.

Shared ownership prices start from £112,000 for a 40% share of a studio (full market value £280,000), from £132,000 for a 40% share of a one bedroom apartment (full market value £330,000) and from £164,000 for a 40% share of a two bedroom apartment (full market value £410,000). arrolondon.co.uk

FROM £410,000

*Based on a 40% share with a full market value of £280,000

STRATFORD

New Garden Quarter

FROM £103,125*

London developer Mount Anvil, in a joint venture partnership with Peabody, has launched Three Waters – an urban collection of over 300 studio, one, two and three bedroom homes,109 of which will be affordable, located in Bow Creek, E3. The first phase, The City Collection, offers 150 homes for private sale.

Three Waters stands at the confluence of three waterways – Bow Creek, the River Lea and Limehouse Cut. With great views from the private rooftop terrace, each apartment features industrial-inspired detailing and contemporary kitchens. Residents can take advantage of the exclusive amenities including a cinema room and social space, and there is a 24-hour concierge. On the ground floor, there will be creative and retail spaces. The nearby Lea River Park encompasses six new parks with 45 acres of outdoor space with wetlands and garden meadows.

Bromley-by-Bow station is a six-minute walk away, with journey times of just over 15 minutes to the City. Devons Road DLR station is a10-minute walk away. The upcoming arrival of the Elizabeth Line at Stratford will mean an even faster commute, reaching Canary Wharf in eight minutes.

New Garden Quarter offers a collection of one, two and three bedroom shared ownership apartments set around two acres of landscaped green spaces including private and public squares, gardens and courtyards.

Residents can take advantage of a 24-hour concierge service, gym, cafe and in the future, a nursery. Secure car parking is available.

All of the apartments incorporate a sleek specification and flexible open plan design. The fully fitted kitchens come with a range of integrated Smeg appliances. Each home has a balcony or terrace, some with views on to the communal gardens.

Stratford offers endless opportunities for leisure, shopping and entertainment, and Stratford station is served by both the Jubilee and Central lines, connecting to Canary Wharf in nine minutes, as well as the DLR and Overground. The anticipated launch of the Elizabeth Line will bring a Crossrail station to Stratford, further improving connections.

Nearby the Olympic Park offers 110 acres of green open spaces and Westfield Stratford City is one of Europe’s largest shopping centres offering a huge choice of shops and leisure opportunities.

mountanvil.com/threewaters

nhgsales.com *Based on a 25% share with a full market value of £412,500

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HOUSING

REVIVAL OF THE COUNCIL HOUSE Local councils, which once only supplied rental housing to those in need, are increasingly joining forces with developers or setting up their own divisions to build new homes for shared ownership and outright sale.

Kay Hill looks at the trend around the country

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ack in the late 1960s, councils were building more than 425,000 houses a year, providing rental homes for all kinds of households. By 2004, that figure had plummeted to 130 homes a year, with only the very poorest having any hope of getting a council house.

While former tenants snapped up their discounted council homes under Right to Buy legislation, councils were prevented from using the money to build new homes, deepening the shortage. However, the situation has now changed, and when the Government removed the cap last year that prevented councils borrowing money to build new houses, the trickle of building activity by councils became a flood.

Interestingly, many councils are not following the traditional social housing model of just building homes for rent; instead they are offering a whole range of tenures, including shared ownership and outright sale. In general, houses are being built on either council-owned land, or in areas which are in need of regeneration where the council has to provide infrastructure in order to make development possible.

One of the very latest councils to join the housing revolution is Shropshire, which voted at the end of February to set up its own development company, providing 40% affordable homes, and to create income from the sale of the other 60% to plough back into the scheme.

Robert Macey, Shropshire Council’s Cabinet member for planning and housing development, explained that the decision was “another way to directly address the challenge of unmet housing need”, in an area with more than 5,000 individuals and families on the council waiting list. “We have land and it makes sense that we use this initially to build high-quality homes that people want, need and can afford. It will also help us to shape places and use any income to build even more homes and deliver essential services.”

The inclusion of homes for outright sale in many of these schemes is essentially a money-earner to help subsidise homes for rental – in general, outright sale properties are of a similar price to those provided in the area by other developers. However, they are driven by housing need rather than just what is most cost-effective for a commercial

developer, so you are more likely to find spacious but economical family houses or properties which are tailored to groups who struggle to get on the housing ladder, such as first time buyers, older people and those with disabilities.

The schemes have proven particularly popular in London, with a Government Green Paper revealing last summer that as many as 22 of the capital’s 32 boroughs are now building homes, with the busiest being Newham with 4,000 planned properties, Hackney with 3,000, Croydon with 2,500, Southwark with 2,100 and Barking & Dagenham with 2,000 on the cards.

The idea of councils effectively giving away publicly owned land in deals with developers has not been without controversy. A deal between developer Lendlease and Haringey Council which would have seen 6,400 homes built over 20 years, transforming the Broadwater Farm and Northumberland Park estates, was abruptly scrapped last year after newly elected council members decided that too much was being given away. However, councils often lack the experience and expertise in building after so many decades

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HOUSING

CASE STUDY

without construction, so others are pleased to make use of commercial expertise.

In Sheffield, Sheffield Housing Company (SHC) was set up in 2011 following a 2007 initiative by then housing minister Yvette Cooper, who encouraged councils to partner with private developers to build on council land. SHC is a partnership between Sheffield City Council, housebuilder Keepmoat and Great Places Housing Group, which will manage the affordable rented homes. The organisation has just celebrated the completion of its 600th home (including 452 for outright sale and 36 for shared ownership), as well as the creation of 500 new local jobs and 60 new apprenticeships.

Councillor Jack Scott, cabinet member for development at Sheffield City Council, believes the enterprise has provided strength and value, “Through working in partnership, we have delivered huge economic and social boosts that will benefit areas of Sheffield that need it most, regenerating communities and giving people the support they need to build better homes, lives and opportunities.”

In Croydon, on the other hand, Colm Lacey, Chief Executive of Brick by Brick, explains why these days the council is keeping its building in-house, “We are a new kind of housing developer, established

by Croydon Council in 2016 to increase the supply of new and affordable homes.

We are 100% owned by Croydon Council but operate as an independent company, developing high quality, beautifully designed homes for local people, both for sale and rent.

“There is huge potential for new homes to be delivered on underused councilowned land such as old garages, car parks, vacant buildings or disused land.

Traditionally, the Council had delivered housing by selling land to developers or agreeing development partnerships, a process which sometimes did not allow the council to fully benefit from any uplift in land values and development returns. The Brick by Brick model enables the Council to get better value out of its assets and retain a much larger share of any development gain, while also supporting the delivery of housing targets.”

Whichever way councils are choosing to build, there is no doubt that these locally led schemes are providing a significant number of good-quality new homes, and it’s worth making sure that they are on your radar when you are househunting.

Office worker Katie Woodhead and her bus driver husband Paul are delighted with their new home on Harborough Avenue, Manor Park, Sheffield, built by Sheffield Housing Company (SHC). She explained that the council-led development offered them far more in terms of space and value than other properties available locally.

“We had been renting for a while and wanted to buy a home of our own,” she said. “We were actually on our way to put down a deposit at another development when we passed the site and went to look at the show homes. We couldn’t believe the difference in the size and storage space. We were really impressed by the value the homes offered so we bought a two bedroomed semi there instead.”

It transpired that the Woodheads had snapped up the 600th home to be built by SHC, which is a partnership between Sheffield City Council, developer Keepmoat Homes and housing association Great Places Housing Group which plans to build 2,300 new homes in the area. As well as providing hard-working local people like the Woodheads with a house of their own, the scheme is also designed to create new jobs and nurture skills. Katie was welcomed to her new home by Councillor Jack Scott, cabinet member for development at Sheffield City Council, along with Cameron Akers who is now training in horticulture and was the scheme’s 60th apprentice and Gregory Roy who secured the 500th new job created by the project when he was taken on as a bricklayer.

WHAT'S ON OFFER FROM £54,500*

BICESTER

Gardeners Close

Just five shared ownership apartments remain at Cherwell District Council’s Gardeners Close development in Bicester.

The homes have been created by a team within the council itself called Build! that was created in 2012 to look at alternative ways to deliver affordable homes for local people. Build! Is made up of a small team of design, build and housing management specialists that has so far provided more than 260 new homes by various methods including refurbishing empty town properties, enabling a self-build scheme for shared ownership and using brownfield sites. Gardeners Close, on the site of a former highways depot, is in walking distance of Bicester Village railway station and the town centre, and every apartment has a parking space. The remaining two bedroom apartments are available with a deposit of just £2,725 on a £54,500 share (25%) of a full market value of £218,000. cherwell.gov.uk

*Based on a 25% share with a full market value of £218,000

BRISTOL Ashton Rise

FROM £TBC

New energy-efficient homes are coming to Ashton Vale, south of Bristol, thanks to a £21m partnership between Bristol City Council and Wilmott Dixon. The homes on sale this summer, have been designed to keep utility bills as low as possible, and are being built using the speedy SIG I-House system of construction. The development offers 133 two, three and four bedroom houses and one and two bedroom apartments.

Of these, 40% will be social rented council homes, while the remainder will be sold, with the proceeds reinvested to support construction of more council homes. The Council plans to build 2,000 new homes, including 800 affordable homes, in this way before 2020. ashtonrise.com

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HOUSING

FROM £73,750*

(SHARED OWNERSHIP)

CROYDON

Ravensdale and Rushden

FROM £295,000

(HELP TO BUY AVAILABLE)

Brick by Brick, wholly owned by Croydon Council, is developing more than 1,200 homes across the area, including shared ownership and outright sale with Help to Buy. It has just completed two developments in Upper Norwood. Ravensdale & Rushden (pictured), comprises 30 one and two bedroom apartments and two and three bedroom houses, all for outright purchase, with Help to Buy available for the apartments. Nearby, the Auckland Rise & Sylvan Hill development will provide 57 one and two bedroom flats, with shared ownership available for 19 of them. Prices at the two developments start at £295,000 for a one bedroom apartment, £450,000 for a two bedroom apartment and £587,500 for a three bedroom terraced house.

Shared ownership is available from a 25% share, with one bedroom apartments from £73,750 and two bedroom from £112,500. Croydon residents have priority for two months.

HACKNEY

FROM £93,750*

Bridge House

Hackney Council has committed to building hundreds of genuinely affordable homes without private developers or selling off council-owned land. Its homes are built, owned and managed by Hackney Council, and homes for sale are marketed through the council’s marketing team, Hackney Sales. Completing shortly is Bridge House, E9, which comprises 37 one, two and three bedroom homes available to buy through shared ownership. All the homes have a balcony or terrace and access to landscaped communal gardens, and come with integrated appliances in the kitchen, Amtico and carpeted floors, and neutral interiors. The apartments are a six-minute walk from Homerton Station with trains to Stratford in 11 minutes. Prices are expected to start from £93,750 for a 25% share of a one bedroom apartment valued at £375,000. Priority will be given to applicants who live and/or work in Hackney.

bxbdevelopment.com hackneysales.org *Based on a 25% share with a full market value of £295,000 *Based on a 25% share with a full market value of £375,000

SHEFFIELD

SWINDON

Eclipse is a development of 181 two, three FROM and four bedroom £1 29,995 semi-detached and (HELP TO BUY AVAILABLE) terraced homes at Harborough Avenue in Sheffield, built by Sheffield Housing Company (a partnership between Sheffield City Council, developer Keepmoat Homes and housing association Great Places Housing Group). The homes have been designed to be more spacious than most other developments, with even the two bedroom terraces having a separate lounge and ample built-in storage, along with private rear gardens. Two bedroom homes start from £129,995 and three bedroom properties are available from £156,995.

The Government's Help to Buy scheme is available on all the properties, which means you can secure a new home with just a 5% deposit, from £6,500. The development is in Manor, in the south east of Sheffield, approximately three miles from the city centre. With great public transport links it is close to both the Meadowhall Shopping centre and the popular Manor Fields Park.

Swindon Borough Council set up a 50:50 joint venture company with Barratt Developments with the aim of creating 2,750 new homes FROM over a 20-year £ TBC period on land owned by the council in Wichelstowe. Work is underway on the first phase, called Canalside, which will feature one, two, three and four bedroom homes sold through Barratt and David Wilson Homes, with the first residents moving in early next year. Eventually, the 25-hectare development will include two new primary schools and a secondary school and public open space, and the building works will support more than 1,000 jobs locally. Councillor Gary Sumner, Swindon Borough Council’s Cabinet Member for Strategic Planning, said when full planning permission was granted, “I am personally delighted that this important scheme has been approved demonstrating the effectiveness of the public and private sectors working together.” Prices to be confirmed.

keepmoat.com/eclipse-sheffield

wichelstowe.co.uk

Eclipse

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Canalside

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LOCATION

HOTspot

Clapham – It’s Good to be South of the River If London living is the goal, it really doesn’t get much better than Clapham. SW4 is known for its striking architecture, vast green spaces and relaxed vibe. Combined with excellent transport links, this makes it the perfect place for busy commuters to escape the 9-5

Straddling the Lambeth and Wandsworth boroughs, Clapham is a hugely popular district of south west London. Its history dates back more than a thousand years and, in the 17th century, many central Londoners settled there following outbreaks of the plague and the Great Fire of London.

However, it was the arrival of the railway that really put Clapham on the map and it became a commuter suburb for the working classes from around 1900.

Huge regeneration in the area since the 1980s has led to the gentrification of Clapham, as the middle classes of Knightsbridge and Chelsea, just across the river, have migrated south. However, Clapham Junction Station

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its proximity to neighbouring Brixton and Stockwell has helped to keep the area diverse and it really has an inclusive feel.

While period properties are plentiful in the area, Clapham has also seen continual development in recent years with some seriously impressive new developments to tempt first time buyers. Shared ownership can help to make properties in the area more affordable and is worth investigating if you are sold on the area but the budget doesn’t quite stretch.

HOMES AND RESIDENTS Clapham has a relatively young population, with an average age of around 30. It has an incredibly diverse population and the area attracts people from across the world, including many Australians. Clapham has grown increasingly popular with young professionals and families since the 1980s, since prices have pushed them out of the city, and it's now one of the most popular places to live in London.

Clapham can be roughly divided into four distinctive areas – Clapham North, Clapham Old Town, Clapham South and Clapham Junction – each has a slightly different vibe so it is well worth spending some time in the area to get a real feel for the differences.

FAC T F I L E

Average property price (February 2019) – £493,005 Property breakdown* (Lambeth) Detached – £1,099,524 Semi-detached – £878,404 Terraced – £682,025 Flat – £431,334 *According to the Land Registry House Price Index February 2019

FA M O U S R E S I D E N T S • Actor Vanessa Redgrave • Abolitionist William Wilberforce • Comedian Jo Brand • Diarist Samuel Pepys • Author John Ruskin

Clapham’s architecture reflects its rich history ,with Georgian terraces in the Old Town, Victorian properties in Abbeville Village and a great quantity of Victorian and Edwardian terraced homes.

The busier Clapham North area is particularly popular with young professionals. With larger properties more readily available towards Clapham South, families tend to settle here or in Old Town.

Those wanting easy access to the common have a good choice of properties available, including purpose-built mansion blocks and some beautiful period conversions.

OUT AND ABOUT One of Clapham’s biggest draws is the Common, which has to be seen to be believed. It really is the heart of the whole Clapham community, particularly in the warm summer months when locals can be found playing and picnicking there late into the evenings. It also plays host to a whole range of events from one-day festivals to sports tournaments.

There are plenty of other local amenities to keep residents occupied when the British weather isn’t so kind. The Clapham Picturehouse, a quirky art house cinema, and the Landor Theatre, widely regarded as one

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LOCATION of London’s best fringe theatres, are both well worth a visit.

On a less cultural note, Clapham has been nicknamed "the best party south of the river" and its nightlife caters for all tastes. Clapham Junction, boasting the famous Clapham Grand, and the High Street, home to the infamous Inferno’s, are the main areas for evening entertainment. Both offer a range of classier venues too, including an abundance of cocktail bars.

Clapham’s restaurants are also plentiful.

The variation in cuisine means you really could have something different every night of the year and the best way to get to know them is to simply explore.

SHOPPING While serious shoppers are likely to head in to central London, Clapham has more than enough to satisfy your day-to-day requirements. The old Arding and Hobbs building, now Debenhams, dominates Clapham Junction and there are plenty of high street stores.

However, where Clapham really excels, is in providing residents with something a little less ordinary. There are some lovely independent stores dotted about, and vintage fans will be impressed with the offerings of local charity shops including Trinity Hospice

Clapham South

and Ace, both directly supporting the local community. Foodies are particularly well catered for and flock to the Venn Street Market, next to Clapham Common Tube station, on a Saturday. Stalls include the hugely popular Portland Scallop Co and The Borough Cheese Company. The area also boasts two outstanding butchers, M Moen & Sons and The Ginger Pig, and some exceptional delicatessens too.

TRANSPORT Clapham Junction station, although technically in neighbouring Battersea, is the UK’s busiest rail interchange. With 35 trains

HOMES on offer in the area…

CLAPHAM

an hour, a journey to Victoria or Waterloo takes between six and 10 minutes. The station also serves as a gateway to the South of England. Clapham High Street station, a far smaller station, offers trains to Victoria, in addition to Overground services to Canada Water, Shoreditch High Street and Highbury & Islington.

Clapham has three underground stations, Clapham North, Clapham Common and Clapham South. All are on the Northern Line, and in Zone 2. All can have you in the City or the West End in around 15 minutes, but it can be incredibly busy at rush hour! The area also has excellent bus routes, including regular night buses from central London.

With such excellent public transport links, drivers may find owning a car in Clapham is more hassle than it’s worth. Cyclists, however, can take advantage of the Cycle Superhighway 7, running alongside Clapham Common, to get around.

5 REASONS WE LOVE… …CLAPHAM

1 Close enough to the city to still have a buzz 2 A great city for work-life balance 3 The Common – need we say more!

4 Excellent commuter links 5 Always something new to see or do

THE PERKY NELL

CLAPHAM PARK

Abbeville Place

The Maple

FROM £425,000

FROM £117,300*

Inspired Homes has launched Abbeville Place, a gated development in landscaped gardens offering 41 one and two bedroom micro-apartments in Clapham’s Abbeville Village. These feature designer kitchens with Neff appliances, oak engineered wood flooring and Hyperoptic broadband. Nearby are a range of shops, restaurants and bars.

Clapham Common underground station on the Northern Line is five minutes’ walk away where you can reach Kings Cross in 25 minutes, while Clapham Junction station is 15 minutes. Help to Buy is available.

This regeneration scheme has seen the completion of 500 new and 700 refurbished homes, and Metropolitan Thames Valley is now delivering 2,500 more homes. There are 132 one, two and three bedroom shared ownership apartments. There will be a new school, nursery, retail and community facilities, parks, play areas, gardens and quiet spaces linked together by green avenues. The energy-efficient homes have living roofs and solar panels and the development has 4,000 cycle spaces, two new bus stands and electric vehicle charging points.

abbevilleplaceclapham.co.uk

yourclaphampark.co.uk

We’ve found the perfect place for you to regroup between property viewings! With so many pubs in Clapham, it can be hard for new establishments to make an impact on the area, but The Perky Nell has done just that. Across the road from Clapham South station, opposite the Common, this welcoming drinking and dining spot offers excellent food and drink in a relaxed environment. The food served is minimal fuss to maximum effect. The generous portions don’t disappoint and daily specials, including delectable pies, mean the menu never gets old. What’s more, the large west-facing terrace is perfectly placed for people-watching and getting a feel for your new neighbours.

*Based on a 30% share of the full market value of £391,000

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HELP TO BUY

RELAX AND UNWIND AT ROYAL ARSENAL RIVERSIDE

London might be the greatest city in the world, but with so much to see and do it’s hard to find a moment or two to relax, unwind and take the time just for you. But at Royal Arsenal Riverside – one of London’s most exciting and vibrant riverfront destinations – you come first Whether your idea of pure bliss is having an al fresco drink in the sun, letting off steam in the gym, relaxing with a deepmuscle massage, revelling in historic architecture or fine dining with authentic Italian cuisine, Royal Arsenal Riverside has been designed with you in mind.

THE WATERSIDE CLUB Experience pure relaxation in one of the biggest residential spas of its kind in the capital. An oasis of calm and comfort in the heart of the development, The Waterside Club boasts a 20m swimming pool, spa treatment rooms, sauna and steam rooms and a state-of-the-art gym.

The buzz and noise of the capital is a distant memory within these walls.

Residents can enjoy a quiet, early morning swim to wake up and recharge before the day ahead or soak up the heat of the sauna following the evening’s commute.

And there’s more. The Waterside Club also offers a landscaped private courtyard garden, private cinema room and a 24-hour concierge service operating seven days a week – there’s a perfect slice of luxury for everyone and anyone.

THE GREAT OUTDOORS With the Thames Path right on your doorstep, healthy living couldn’t be easier.

Whether you’re out for a moonlit stroll or looking to get in shape with a fast run or a cycle, the miles of riverfront paths are the ideal setting. And, they have some of London’s most spectacular views towards the iconic silhouette of Canary Wharf and towards the Thames Barrier.

Royal Arsenal Riverside’s beautifully landscaped green areas offer friends and families the chance to reconnect with

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nature. Maribor Park is the perfect spot to gather and take in the rich and diverse flora: already open towards the riverfront, when complete this four-acre stretch from the Thames towards Dial Arch Square and Woolwich town centre will eventually create an eye-catching but calming pathway down to the river.

RELAX AND UNWIND When it comes to eating out, Royal Arsenal has something for everyone every day of the week. The award-winning Con Gusto Italian restaurant is run by Michelintrained brothers who also happen to live on site. Their close connection to the area has helped make the establishment a firm favourite with locals and residents. The Guard House and the Dial Arch offer two complementary pub options while The Taproom’s pizzas and locally brewed beers are a perfect option for a quick pit stop or for a casual dinner with friends.

Residents will soon also benefit from

the new Creative District, which immersive theatre company Punchdrunk, Protein Dance and Chineke! will call home. The space is set to rival London’s South Bank for size and will bring a new cultural vibrancy to the area – perfect for those who want the arts at their door.

FITTING IN Living at Royal Arsenal Riverside can be your reality. Manhattan studios at Pavilion Square, in the heart of the development, start from £400,000, or £320,000 for buyers eligible to use the Discount Market Sale scheme, which offers a home at 20% below the market rate. And with London Help to Buy also available, buyers can offer just a 5% deposit – with the Government lending up to 40% of the cost of your new home – making getting on the property ladder easier.

For more information visit royalarsenalriverside.co.uk or contact the sales team on 020 8108 7155

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HELP TO BUY

GET MORE FROM LIFE AT ORBIT’S MOORLAND GLADE IN RUGBY

Moorland Glade is a beautifully landscaped development, ideally situated in the desirable, canalside location of Hillmorton, just to the west of central Rugby, and within easy reach of all the amenities and convenience of urban living. It also offers the perfect work-life balance to commuters, with its countryside setting and excellent transport links to several major cities, and is particularly appealing to families thanks to the great choice of sought-after schools within easy walking distance Affordable housing expert Orbit is proudly offering a selection of spacious three and four bedroom houses at Moorland Glade, priced from £234,995, with Help to Buy: Equity Loans available.

This means that prospective buyers only need to raise a 5% deposit for their new build home, and the Government will provide a loan of up to 20% of the property value, if purchasers qualify for a standard mortgage for the remaining 75%. Lenders participating in the scheme include Santander, Barclays, NatWest and Halifax.

The new development offers a great lifestyle for families, with access to glorious countryside, the joys of towpath walks along the Oxford Canal, and great eateries (including the renowned Canalchef Café at Badseys Wharf) all within easy reach.

Moorland Glade also benefits from being in the catchment area for several highly rated schools and, impressively, there are five schools with either good or outstanding OFSTED ratings within just a mile’s radius of the development.

Just over three miles from Moorland Glade, the centre of the bustling market town of Rugby is the perfect starting point for exploring the Heart of England.

However, as well as its fame for being the birthplace of the eponymous ball game, (which is celebrated in a quaint museum in the town centre), Rugby itself boasts a wealth of culture, shopping and leisure pursuits, and fascinating historic buildings.

A huge range of cuisines are on offer in the town’s many restaurants and cafes, and Rugby is famous for the plethora of pubs clustered around the town centre, including 11 that feature on a CAMRA Real Ale Trail.

Rugby also offers a huge range of shopping opportunities, from small independent stores, through to high street retailers, an out-of-town shopping village, and a traditional street market that opens three days a week around the picturesque clock tower.

Rugby boasts a theatre that prides itself on staging amateur productions to professional standards, from classics

to contemporary plays and big budget musicals. It also hosts a wealth of visiting performers, from opera companies to children’s dance groups, and is home to a popular cinema.

For those who relish the great outdoors, Moorland Glade is just 6.5 miles from Draycote Water, a country park set around a reservoir that is Warwickshire’s largest body of water. This stunning setting attracts boating enthusiasts, walkers, cyclists, lovers of trout fishing, bird-watchers and windsurfers, and is even home to a 200strong herd of llamas.

Moorland Glade is also ideally located for commuters, as it offers easy access to arterial road links, along with excellent intercity rail services and local public transport. The A5, M1, M6 and M45 are all within easy reach, while the popular commuter areas such of Coventry and Leamington Spa are each under 17 miles away by car.

Rugby Station, with its excellent connections, is less than three miles from Moorland Glade, and offers regular services into Crewe, Birmingham New Street, and Leicester. Even travel to the capital from Rugby is a breeze, with regular, direct rail services taking as little as 50 minutes from Rugby to Euston at peak times.

For further information on Moorland Glade, please visit orbithomes.org.uk

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AFFORDABLE HOMES

THE REACH: A FLAGSHIP COLLECTION OF SHARED OWNERSHIP HOMES IN WEST THAMESMEAD

It’s not hard to get caught up in the vibrancy of the central London lifestyle and all that it offers. As well as being a central hub for business, London also offers a dynamic and varied lifestyle enjoyed by many. But venture further east of central London within the Royal Borough of Greenwich and the London Borough of Bexley and you’ll discover a town like no other – a town with a rich history that is set to benefit from a multi-million pound investment – welcome to Thamesmead Take another glance and discover a town that offers a unique perspective of London living and unrivalled community spirit, with pockets of green spaces including Abbey Wood and Tump 53 nature reserve, calming waterways and enjoyable leisure facilities. And with Abbey Wood to the east, Blackheath to the south and Greenwich and central London to the west, Thamesmead is within reach of it all.

The area looks forward to a bright future as it welcomes an influx of new leisure, cultural and commercial facilities. Peabody’s flagship offering at The Reach is ideally positioned at the core in West Thamesmead.

Launched in early May, The Reach is a stunning collection of spacious one, two and three bedroom apartments available through shared ownership.

Designed by award-winning architect Pitzman Tozer, The Reach is an eyecatching development with striking, bold features. Arranged around a landscaped communal garden, The Reach is defined by community and character, and is home to a selection of thoughtfully designed homes that have been carefully created with the buyer in mind; making use of spacious living areas and modern specifications – all finished to a high standard.

Take the family-sized three bedroom apartment that takes advantage of large windows to allow natural light to flood into the room and balconies that overlook beautifully landscaped courtyards. The larger homes also benefit from separated kitchen areas with modern finishes throughout and integrated Zanussi

appliances that provide the perfect backdrop for socialising at the heart of the home.

For first time buyers within smaller households, the one and two bedroom apartments have been carefully designed to accommodate open-plan spaces that maximise on space through the layout of the room, with many homes benefiting from dual-aspect views. Complete with builtin wardrobes to master bedrooms and en suites to selected two bedroom apartments, these homes offer a comfortable retreat at the end of a busy day. The properties start from £69,375 for a 25% share of the full market value of £277,500.

Andrew Peglau, Head of Marketing at Peabody, comments, “We’re delighted to be offering the local people of Thamesmead and Greenwich the opportunity to purchase at Peabody’s flagship development as part of the wider regeneration within the area.

The Reach is truly an offering catering for first time buyers who are looking for a route to homeownership in south east London.

And with selected homes available with parking, we’re expecting to have a lot of interest in The Reach – and rightly so.”

Applicants with a guidance household income between £36,170 and £85,000 per year are eligible to buy a home at The Reach with Peabody with a deposit starting from £6,938 for a one bedroom apartment.

For more information or to register your interest in The Reach, visit peabodysales.co.uk/TheReach or contact Peabody on 020 7021 4842 To find out more about Peabody’s involvement in the regeneration project at Thamesmead, please also visit thamesmeadnow.org.uk

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OPEN MARKET

A BIG WELCOME IN BRITAIN’S SMALLEST COUNTY

Rutland’s motto is “Multum in Parvo” – much in little – which is very apt. Despite being the smallest county in England, there is so much on offer here if you are looking for a new home.

It recently won the title of “best rural place to live in the UK” in the Halifax Rural Areas Quality of Life Survey. The county’s main centre, Oakham, is the perfect choice for a house in a traditional market town Oakham, with its rural charm, is just a short distance from major urban centres such as Peterborough (23 miles), Leicester (25 miles) and Nottingham (28 miles). Oakham railway station provides links to Birmingham, Leicester, Peterborough, Cambridge and Stansted Airport.

There are four universities within 30 miles (two in Leicester and two in Nottingham) and there is soon to be one in Peterborough.

Rutland Water, which is England’s largest artificial lake, is close by. The reservoir provides renowned water sports facilities and stunning nature and wildfowl reserves. There is also an outdoor adventure centre and cycling and walking routes to enjoy.

Although development in Oakham is tightly controlled, as you would expect in such a historic setting, there are new homes being built to suit a wide range of budgets and lifestyles.

Much of the new housing is in Oakham Heights, a well-planned expansion of the town which will eventually include more than 1,000 homes as well as shops, leisure facilities and extensive open space.

All of this is just a few minutes’ walk from the town centre where Oakham hosts open-air markets twice a week as well as monthly farmers’ markets, alongside a wide range of traditional local retailers and some of the big national brands.

Farriers Reach at Oakham Heights offers a new range of contemporary styled, energy-efficient homes. There are two, three and four bedroom properties to choose from. All of them are fitted with solar panels to generate electricity from sunlight, cutting carbon emissions and, importantly, also cutting your power bills!

Developer Larkfleet Homes offers a range of incentives for first time buyers and many of the homes are available with assistance from the Government’s Help to Buy scheme.

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T H E H E X H A M AT FA R R I E R S R E A C H

The stylish two bedroom Hexham house style from Larkfleet Homes at Farriers Reach in Oakham has two good-sized bedrooms and a bathroom on the ground floor.

Kitchen, dining and living spaces are all part of a single open-plan area occupying the whole of the first floor.

They open out on to a terrace above a car port below, allowing indoors and outdoors to blend into a single space on summer days.

The contemporary styling extends from the appearance through into details such as a high level of energy efficiency, which is assisted by solar panels on the roof to help cut electricity bills.

A number of detached Hexham homes are available, currently at £208,995, with a number of special offers for first time buyers.

For details visit larkfleet.com/oakham

T H E B A N B U R Y AT FA R R I E R S R E A C H

Detached three bedroom Banbury style houses at Farriers Reach in Oakham have three good-sized bedrooms and a family bathroom taking up the ground floor.

The kitchen, dining and living spaces are all part of a single open-plan area occupying most of the first floor alongside an additional WC, utility area and store. A terrace above a car port allows the living area to be extended outdoors when the weather is good.

Designed to be highly energy efficient as well as stylish, the houses are fitted with solar panels which will generate electricity even on cloudy days.

Banbury homes are available currently at £237,000, with Help to Buy and other offers for first time buyers from developer Larkfleet Homes.

For details visit larkfleet.com/larkfleethomes/farriers-reach

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HELP TO BUY

TOP OF THE CLASS! Award-winning Regenta Development, a subsidiary of SiteSales Property Group that has been building high-quality properties since 2013, explains why good design, thoughtful and innovative layouts and excellent aftercare make all the difference when you are buying your first home Regenta prides itself on taking care of the whole development process, from acquiring the land, to handing over the keys to the new owner, and its exemplary year-long aftercare service is second to none. Ticking all the right boxes, every project is unique, but always focuses on superior design, high-quality construction and attractive architecture. Inside, the well-considered layouts and spacious living areas put the homes in a class of their own.

In the first five years, Regenta built more than 100 new homes. At Gilpin Mews, its flagship development in Ware, Hertfordshire, eight out of 10 new families moved in within a month of the launch, proving just how popular its developments are with buyers. Regenta won the coveted “Best Private Developer” award at the 2018 First Time Buyer Readers’ Awards and was highly commended again in 2019, something about which Development Director Ross Smith and his team are very proud.

Ross commented, “Regenta Development is known for our small and medium-sized housing projects that are tailored to the local surroundings and have spacious, imaginative layouts, accompanied with an attractive exterior design. We don’t mass produce square, featureless boxes; we aim to create homes that suit their location and leave our customers totally satisfied with their new home.

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“For example, Gilpin Mews was a contemporary re-imagining of the traditional mews, consisting of three and four bedroom houses set inside a secure, gated community.

From the outside, the architectural detailing fitted in perfectly with the historic community of Ware, while on the inside, they offered the very best in contemporary living, with sleek modern kitchens with fully integrated appliances, contemporary bathrooms and smart home technology including an automated heating system that can be controlled from a smart phone.

“Built over three floors, the design created a comfortable, spacious environment for family living. The homes also featured spectacular bi-folding doors,

allowing in an abundance of natural light, and providing a seamless link into the private gardens.”

The Regenta brand is associated with attention to detail and quality, and superior interior finishes. Its newest development in Walthamstow benefits from a high specification, with integrated appliances and enclosed private outside space. The bedrooms enjoy an abundance of natural light, and include an en suite in the two bedroom apartments. These stunning new homes start at £375,000 for one bedroom and £460,000 for two bedrooms.

Regenta works closely with its parent company SiteSales Property Group to offer a completely personalised sales experience, from the very first point of contact through to handing over the keys.

This focus on customer care means that Regenta goes the extra mile to make sure that new homeowners settle in successfully, providing a comprehensive New Home Demonstration to make sure that they understand how everything works, and providing them with a New Home User Guide that keeps all the relevant instruction booklets and telephone numbers together.

As they look to the future, the Regenta Team has many exciting projects in London and the Home Counties including South Woodford, Epping, Walthamstow, Ongar, Ware, Waltham Abbey and St Albans.

To find out more about these projects go to regenta.co.uk or call 020 8502 5758

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ON THE MARKET

NEST E10

A stylish collection of one, two and three bedroom homes is symbolic of Leyton’s transformation into a vibrant neighbourhood. Now, for the first time, Newlon Living is offering both private sale and shared ownership The NEST development benefits from panoramic views across London, as well as being just a few minutes from retail, transport and leisure facilities in Leyton High Road. There is quick and easy access to central London, and the world class retail centre at Westfield (Stratford) is on the doorstep, as well as thousands of acres of enviable green space.

NEST provides 61 shared ownership apartments, including one, two and three bedrooms – and a further 12 for private sale, also ranging from one to three bedrooms.

So, whether you are a single person, couple or family looking to take that first step into homeownership, be it via shared ownership, or via outright sale, Newlon Living has an option to suit you.

The development has been designed to a high specification, featuring modern openplan living areas that are as stylish as they are comfortable. Wool mix carpets bring a touch of indulgence to the bedrooms, which have been carefully planned to provide the optimum space, light and storage. The individually designed, fully fitted kitchens

by Symphony include a built-in oven, hob and extractor. All apartments also have a fridge-freezer, dishwasher and washerdryer and benefit from fully tiled bathrooms with modern chrome fittings. The Ecodeck balconies are perfect for an early evening sundowner as you take in the inspiring views.

The homes are marketed by newly rebranded Newlon Living, formerly Newlon Home Ownership, and you’ll be supported every step of the way by an experienced and friendly team from one of east London’s major providers of shared ownership, and now as Newlon Living, private sales on certain developments. We are excited to be providing more buying options for our first time buyers under our new brand.

Being in Leyton you don’t have to fly far from the NEST to find plenty of outdoor activities. The 560-acre Queen Elizabeth Park, with its iconic Aquatic Centre, ArcelorMittal Orbit and London Stadium, also has a velodrome, hockey and tennis centres and Copper Box gym complex.

The park has 6.5km of waters and 30 acres of woods and hosts a series of events throughout the year ranging from running club events to international sporting events and concerts and activities for children and families. You can also easily access the beautiful Lea Valley providing 10,000

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acres and 26 miles of unbroken green space extending from the Olympic Park into Essex and Hertfordshire.

Prices at NEST range from £325,000 to £555,000 for shared ownership homes, with a 25% minimum share ranging from £81,250 – £138,750. Apartments can be reserved now and the development will be completed this June. Our private sale prices range from £345,000 to £570,000.

With quick and easy access to central London, world class leisure and retail facilities and beautiful green space on your doorstep, all while being at the heart of one of London’s most exciting communities, it’s

time to build your own NEST. And there has never been a better time to set up home in Waltham Forest, winner of the prestigious competition to be London’s first ever borough of culture. This year will be marked by a festival of internationally prestigious events as well as hundreds of community inspired activities.

To find out more, register your interest or reserve an apartment visit NestE10.co.uk For more information about the range of homes and services available from Newlon Living go to newlonliving.co.uk

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AFFORDABLE HOMES

AFFORDABLE EAST LONDON CHARM ON THE DOORSTEP AT ROPEMAKERS YARD

Among millennial buyers, 92% would spend a staggering £100,000 more to live in a cool, desirable location¹; with good restaurants, a cinema, a gym and a coffee shop amongst the top five amenities to have nearby. House hunters seeking an affordable way to own a home in one of east London’s trendiest districts should look to L&Q’s latest release of apartments at Ropemakers Yard in Stepney, E14. Available to buy with shared ownership and London Help to Buy, buyers can enjoy a host of their most valued amenities on their doorstep, without the premium price tag Enjoying a central Zone 2 location in the vibrant and welcoming riverside neighbourhood of Limehouse, Ropemakers Yard delivers a premium collection of one and two bedroom apartments and three bedroom maisonettes with access to an onsite fitness suite and yoga studio.

Superbly located among a hive of exciting entertainment options, within a 10-minute walk residents can take in a live music show at the historical art deco Troxy, or enjoy a selection of well-rated bars and restaurants.

Less than two miles away, buyers have a medley of flavours to choose from at the popular Spitalfields Market. For those who prefer to unwind with a coffee, Husk Coffee and Creative Space is just a five-minute walk away, cleverly combining the cool artisan cafe culture alongside a number of regular art classes and events.

All of the apartments at Ropemakers Yard have been thoughtfully created to offer open-plan living and dining areas that are both stylish and relaxing. The floorto-ceiling height windows provide bright, light-filled rooms, with some apartments enjoying views overlooking the City skyline.

Sleek Commodore kitchens come fully fitted with a selection of high-quality finishes and a range of integrated Bosch appliances.

Many homes also enjoy access to a private balcony or terrace overlooking landscaped gardens, a perfect space to sit and relax after a busy working day.

At Ropemakers Yard, residents are well-connected to the City and beyond. Just a five-minute walk from the development is Limehouse DLR station, where buyers can easily connect to Canary Wharf in less than five minutes. Under a mile away is Stepney Green Underground station, served by the District Line and the Hammersmith and City Line, from where you can reach

Liverpool Street in under 10 minutes and Oxford Street in 20 minutes. For those who would like to take in a more scenic commute, Canary Wharf is only a 30-minute walk away or eight minutes by bike.

If you are looking to enjoy a picturesque waterside experience, Limehouse Basin Marina is just half a mile away, and hosts some of area’s best bars and restaurants, including Gordon Ramsay’s impressive, The Narrow. Stroll along to Narrow Street and residents can soak up the atmosphere of one of the many old English pubs including The Grapes, or enjoy a vintage east London twist at Craft Beer Co. If you feel like a respite from the urban buzz, visit Mile End Park and Leisure Centre, or take a trip to Stepney City Farm, host to a weekly farmers’ market held every Saturday, providing locals with a variety of fresh local organic produce.

Residents at Ropemakers Yard will also be able to take advantage of the

forthcoming Crossrail service. Once operational, this will further transform Stepney into a major transport hub. Trains will run to Bond Street in 10 minutes and to London Heathrow Airport in just 38 minutes. There are also plenty of bus routes and major road links that pass through Stepney. London City Airport is also located just six miles away, perfect for those who enjoy a spontaneous weekend break.

Prices start from £94,375 for a 25% share of £377,500 for a one bedroom shared ownership apartment, with the London Help to Buy scheme also available on selected homes. For more information please visit lqgroup.org.uk or call 0333 234 1165. The marketing suite at Ropemakers Yard is open Monday to Thursday between 10am and 5pm and on Sundays between 10am and 4pm 1 bank.marksandspencer.com/explore/media-centre/ press-release/2018/11/no-place-like-an-instagramhome/PR100394

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HELP TO BUY

INLAND HOMES OFFERS A HAND WITH HELP TO BUY

Almost half a million new keys have been exchanged and homes completed using the Help to Buy scheme since its launch in 2013¹. Out of these completions, 93% have been outside of London, and 430,000 completions were made specifically by first time buyers. Extending a helping hand to purchasers getting on to or moving up the property ladder, Inland Homes is offering Help to Buy across all of its developments, on homes up to £600,000. With a selection of properties available across the South of England, potential purchasers can realise their dream of homeownership with just a 5% deposit

Chapel Riverside

The Help to Buy scheme is a Government-backed initiative for both first time buyers and purchasers progressing up the property ladder, which allows potential homeowners to pay a 5% deposit, while the Government provides an equity loan of up to 20%, interest-free for the first five years. A mortgage is required to fund the balance, and loan fee charges will not be applicable on the 20% loan for the first five years of owning a home.

Vicki Noon, Sales and Marketing Director at Inland Homes, said, “At Inland Homes, we are incredibly proud to offer Help to Buy across all of our developments, enabling a range of purchasers the opportunity to get on to or take a step up on the property ladder. In the current market, a 5% deposit on a home is a more achievable feat, and in the first five years of living at your new home, you are not expected to pay any interest, which is a fantastic benefit for new homeowners. We encourage potential buyers to get in contact or visit our developments, to see for themselves what beautiful homes are available.”

Offering the best of waterside living without the London price tag, Meridian Waterside and Chapel Riverside in

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Meridian Waterside

Southampton, are both part of an extensive regeneration project to enhance the River Itchen waterfront and create dynamic new destinations for riverside living. Perfect for first time buyers, each provides a collection of one and two bedroom apartments within easy access of Southampton’s comprehensive facilities for a truly fulfilling lifestyle. Homes at Meridian Waterside are available from £185,000.

Located in the heart of High Wycombe in Buckinghamshire, Centre Square offers

a stylish collection of spacious one and two bedroom apartments. Perfectly located near an excellent array of shops and restaurants, the development is also within easy walking distance of the train station, with services into London Marylebone in just 26 minutes.

This attractive development offers many apartments with views overlooking a striking central courtyard. Prices at Centre Square start from £225,000.

Forthcoming developments by Inland Homes include Randalls, an iconic art deco style, Grade II listed department store, which is being carefully renovated and restored to provide a collection of one and two bedroom apartments. The homes are conveniently located in central Uxbridge, close to all local amenities including the Metropolitan and Piccadilly lines.

The homes at Randalls will be ideal for commuters looking for quick access into the capital for work or pleasure.

If you would like further information on current and forthcoming developments, please visit inlandhomes.co.uk or call 01252 418140 1 gov.uk/government/news/almost-half-a-million-new-keysexchanged-with-help-to-buy

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AFFORDABLE HOMES

GET A HEADSTART WITH SHARED OWNERSHIP AT CITY PARK WEST

One in four Brits believes that the era of homeownership is coming to an end, with 40% believing they will never own their own home, a study by OnePoll found¹. With a foot on the property ladder feeling out of reach for so many, Notting Hill Genesis is focusing on first time buyers at City Park West in Chelmsford, Essex. With the opportunity to make the dream of owning their own home a reality, would-be buyers can secure a 25% share of a one bedroom apartment at the development with just a £6,062 deposit* City Park West comprises a collection of one and two bedroom apartments across a range of tenures including shared ownership. Enjoying all the perks of a modern lifestyle in a buzzing city centre, residents have access to a 24-hour concierge service, acres of green spaces on the doorstep, and a five-minute walk to Chelmsford train station for an easy commute into the capital.

Shared ownership offers purchasers at City Park West the opportunity to buy a share of a home, between 25% and 75% of its full market value, while paying a subsidised rent on the remaining share – this makes buying a home less expensive as purchasers only have to save for a deposit on the share bought (rather than on the full market value), and helps keep monthly housing costs lower. As and when they can afford to, purchasers can increase their share at any time, all the way up to 100% and outright ownership of the home.

Jim Munson, Head of Marketing at Notting Hill Genesis, said, “The thriving city centre in Chelmsford offers the perfect balance of fantastic facilities, green space, excellent transport links, affordable property and cultural and sporting amenities. With shared ownership, these apartments are giving first time buyers a step up on to the property ladder and offering a chance to live in an attractive city centre and an established commuter location. All of the available homes are ready to move in now, and with over 70% of the properties now sold, we strongly encourage perspective purchasers to come and view what City Park West has to offer, otherwise you risk missing out.”

All of the apartments have been intelligently designed to offer a selection of spacious layouts combined with a stylish and high-quality specification. Open-plan lounge and dining areas are matched with sleek individually designed kitchens that

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come with a range of integrated Bosch appliances. Bathrooms are fitted with Duravit sanitaryware and chrome fittings, while generously sized master bedrooms come with their own en suite, and many have built-in wardrobes. A good number of the apartments also feature their own private balcony, in addition to access to the communal grounds that encompass the whole development.

Due to its excellent location, residents at City Park West will enjoy a wealth of amenities available, all within walking distance. Chelmsford’s city centre hosts a variety of independent boutiques and high street stores, along with two popular shopping centres, High Chelmer and The Meadows. Bond Street, a retail and leisure development, provides a wide range of shops and restaurants, including a John Lewis. For film fanatics, there is also an Everyman cinema, offering a wide range of

mainstream, independent and classic films, catering to all tastes.

The town is a commuter haven, and regular services run to London Liverpool Street every 15 minutes from Chelmsford Station, with a journey time of just 35 minutes. For international travel, residents can make use of a daily coach service which operates 24 hours a day, travelling direct to Stansted Airport.

Prices for a one bedroom apartment at City Park West start from £60,625 for a 25% share of £242,500.

For further information or to register your interest please visit cityparkwest.co.uk or call us on 01245 806 484 1 swnsdigital.com/2019/04/one-in-four-brits-believe-theownership-era-is-coming-to-an-end *Figure is based on buying a 25% share of a 1-bedroom apartment priced at £242,500 using a 10% deposit

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MORTGAGES

SHOULD I BUY WITH A 5% DEPOSIT OR KEEP SAVING? Which? mortgage expert Danielle Richardson explains the pros and cons of taking out a 95% mortgage Diligently saving for a deposit for your first home can seem like a slog – but how do you decide when you’re done?

You’ll probably be keen to buy as soon as you can, which in the current market means you’ll need at least 5% of the property price – and, unlike in previous years, many mortgage lenders are offering very attractive deals to first time buyers with this size of deposit.

But what are the pitfalls of owning just 5% of a property? And could saving an extra 5% mean you’ll get an even cheaper mortgage rate?

95% MORTGAGES VS 90% MORTGAGES In general, the trend has always been that the bigger the deposit, the lower the interest rates. Why? Put simply, the bigger the proportion of the property price you borrow (known as the loan-to-value ratio or LTV), the greater the risk you represent to the lender – and they charge you for this increased risk through higher interest rates.

However, the interest rate gap between 90% LTV and 95% LTV mortgages has been narrowing in recent months, with lenders

EXAMPLE 1: £200,000 PROPERTY WITH 25-YEAR MORTGAGE TERM 90% LTV

95% LTV

MORTGAGE AMOUNT

£180,000

£190,000

INTEREST RATE

1.78%

2.59%

MONTHLY REPAYMENTS

£743.81

£861.01

ANNUAL REPAYMENTS

£8,925.72

£10,332.12

In this example, the person buying with a 5% deposit would end up spending £1,406 more per year than the buyer putting down 10%.

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offering increasingly competitive deals to those borrowing 95% of the property price.

For instance, in October 2017, the average 90% mortgage rate was 2.62% while the average 95% mortgage rate was 4.19%. The 1.57% gap meant buyers with 5% deposits paid a lot more in interest than those who’d saved 10%.

Now, though, the difference in rates has shrunk to just 0.65%, with the average 90% mortgage rate in April 2019 standing at 2.65%, versus 3.30% for 95% deals.

BEST RATES ON THE MARKET It’s important to bear in mind that these rates are just averages. What you’ll actually pay depends not only on the size of the loan you need, but also the type and duration of deal you opt for, how long the overall mortgage is for and your personal financial situation – and you may find you can get a much cheaper rate.

At 90% LTV, the cheapest two-year fixed deal we found at the time of writing (April 2019) charged an initial rate of 1.78%, whereas the cheapest rate at 95% LTV was 2.59% – a difference of around 0.8%.

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MORTGAGES

EXAMPLE 2: £200,000 MORTGAGE WITH A 2% INTEREST RATE 25-YEAR MORTGAGE TERM 40-YEAR MORTGAGE TERM MONTHLY REPAYMENTS

£847.71

£605.65

TOTAL REPAID OVER MORTGAGE TERM

£254,313

£290,712

As the table above shows, by choosing to spread the costs over an extra 15 years, the person in this example would end up spending a whopping £36,399 more in the long run.

Five-year fixed-rate deals follow the same pattern, although with a smaller rate gap. The cheapest deal we found charged 2.81%, while the cheapest 90% mortgage offered 2.24%.

So, while 95% mortgage rates seem to be getting cheaper, you will still end up paying back more interest on your loan than if you put down a 10% deposit. (See example 1).

THE DOWNSIDES OF 95% MORTGAGES Before opting for a 95% mortgage, there are a few things you should consider.

1. The lowest 95% LTV mortgage rates are usually offered by building societies. If you go with one of these lenders, you’ll need to be particularly careful to switch deals at the end of your introductory term, as their standard variable rates (SVRs, which you’ll be moved on to at the end of the deal period) tend to be higher than those of the bigger banks.

2. You might be restricted by the size of the loan you need – for instance, some deals have a maximum loan size of £350,000, which might not get you the home you want, particularly if you are in the South East of England.

3. You’re at a far greater risk of falling into negative equity, where you owe more on your mortgage than your home is worth, if house prices drop. This could be problematic if you need to sell before you have paid off more of the mortgage, or want to remortgage when the deal period ends.

HOW LONG SHOULD YOUR MORTGAGE TERM BE? An increasing number of lenders have started offering mortgages that can be paid off over 35 or even 40 years, up from the

traditional 25-year term. Many of these longer-term loans are aimed at first time buyers, who are likely to be younger (and therefore will be working for longer) and face more of a challenge in paying off their mortgage.

Opting for a 35- or 40-year term can seem appealing as it brings down your monthly mortgage payments – but you’ll pay an additional 10 or 15 years’ worth of interest on top of what you would have paid with a 25-year term, and this represents a hefty cost. (See example 2).

GET FRIENDLY, EXPERT ADVICE ON THE BEST OPTION FOR YOU Deciding when to buy and which deal to go

for is a complicated business, so it can help to take advice from an impartial expert, such as Which? Mortgage Advisers.

No matter how simple or complicated your question is, the team at Which?

Mortgage Advisers can help you through every step of the journey, from understanding the home-buying process to applying for and completing on a mortgage.

You can call today on 0800 316 0822 for a free chat.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Want to know more? Visit which.co.uk/ mortgage

PROS AND CONS OF 90% AND 95% MORTGAGES

PROS

90% MORTGAGE

95% MORTGAGE

Less chance of encountering negative equity

You’ll buy a house sooner

Cheaper mortgage rates

Rates are getting more competitive

An increasing number of You’ll pay your mortgage off providers are offering this quicker kind of mortgage Easier to move on to a bigger second property CONS

A bigger deposit might take years to save for.

If house prices dip, you could owe more than the property is worth (negative equity) Monthly repayments will be more expensive You’ll need a high credit score to be eligible It can be more difficult to remortgage to a better rate when your deal ends

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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, if you’re looking for your first home on a budget, or seeking a peaceful retreat with green surrounds, we hope you will enjoy our selection

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

HOIC FIRST C

E

TALK OF

THE★T★O★WN Affordable homes p60-61 H O U N S L O W, W E S T L O N D O N

HOIC FIRST C

REAL LIFE

E

CITY

Y SANC★T★U★AR Great green spaces p62-63

Help to Buy p64

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FOR SALE

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

HOIC FIRST C

FROM £202,500

E

TALK OF THE★T★O★WN

The Exchange Set on the edge of a stunning new public square, above shops and restaurants, these stylish apartments form part of the ongoing regeneration of Aylesbury. The 47 one and two bedroom homes feature open-plan living/dining areas that open to a recessed balcony, and en suite from the master bedroom.

The properties occupy an excellent, town centre location – as well as the great on-site facilities, the high street, cinema, theatre and countryside are all just moments away. Transport links are good, too – it takes just an hour to reach London Marylebone from the nearby railway station.

Durkan Homes 01296 768 905 exchangeaylesbury.co.uk

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FOR SALE ISLINGTON, LONDON

FROM £110,000* S O U T H WA R K , S O U T H L O N D O N

FROM £288,000

ICON7 ICON7 by Origin Housing offers 17 one and two bedroom homes available through shared ownership, private sale and with Help to Buy, situated on the sought-after Camden Road.

Inside, the homes include fully fitted kitchens and open-plan living spaces. All apartments have private outdoor space,

with either a balcony or terrace.

Camden market is on the doorstep and Hampstead Heath is nearby. Caledonian Road tube station is 11 minutes’ walk from the development and takes three minutes to King’s Cross.

Origin Housing 020 7226 6611 origin-icon7.co.uk

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

FROM £117,500*

B R O M L E Y- B Y- B O W

Varcoe Road Arranged over seven storeys, this development will comprise 57 one bedroom apartments. They have been created with young first time buyers in mind, with co-working space, communal roof terraces, ample cycle storage and a sun room. The Zone 2 location is close to some of the city’s most fashionable

C AT T E R A L L , P R E S T O N

areas – Peckham, New Cross and Deptford – but easy to get into and around central London.

To be eligible, potential residents must live in the borough of Southwark and earn under the affordable housing cap.

Pocket Living 020 7291 3680 pocketliving.com

FROM £54,250*

Bow East L&Q has four two and three bedroom shared ownership apartments remaining at Bow East, part of the Bromley-byBow masterplan which will deliver 8,000 homes, offices, restaurants and shops by the River Lea. Interiors are finished to a high standard, with select duplex apartments offering floor-

to-ceiling windows and terraces.

Queen Elizabeth Olympic Park and Westfield Stratford City are both nearby. Bow East is a fourminute walk from Bow Church DLR station and eight minutes from Bow Road tube station.

L&Q 0300 456 9997 lqpricedin.co.uk/bow-east

*Based on 25% share of the full market value of £470,000

Beacon Place These two and three bedroom homes available to buy through shared ownership have double glazing and energy efficient boilers making them inexpensive to heat. They are light and spacious and have kitchens with integrated appliances. The development is close to shops in Garstang town centre and to

Beacon Fell Country Park. Ideal for commuters, it is situated off the A6, providing easy access to the M6 and M55 for direct links to Preston, Lancaster and Blackpool. Buses run to Preston, Lancaster and Morecambe.

Plumlife 0161 447 5050 plumlife.co.uk

*Based on a 35% share off the full market value of £155,000

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FOR SALE

GREAT GREEN SPACES FROM £335,000

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

HOIC FIRST C

E

CITY Y SANC★T★U★AR

Habitõ When complete, this new development in the heart of Hounslow, will be home to 37 beautiful, light-filled apartments. The one and two bedroom properties, which are available with Help to Buy, have been thoughtfully designed, with bright, open-plan spaces featuring contemporary finishes, and outdoor space in the form of a balcony or terrace to all the homes.

Residents also share three communal gardens, with areas for growing herbs, and there’s also an on-site gym. Transport links in the area are excellent, with Piccadilly Line services soon to be joined by the speedy Crossrail.

Unique Property Group 020 7969 2709 u-p-g.co.uk

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FOR SALE C H O L S E Y, S O U T H O X F O R D S H I R E

FROM £330,000

FROM £350,000

YA T E L E Y, H A M P S H I R E

Yew Tree Gardens With great transport, green surroundings and local amenities, these family homes in Cholsey are perfect for families and commuters alike. The two, three and four bedroom houses are a five-minute walk from the pretty village, with small shops, supermarket and eateries. The homes feature a separate living

room and kitchen downstairs, along with a WC, with goodsized bedrooms on the first floor.

All properties feature a rear garden and private parking.

Direct rail services run to London Paddington in under one hour.

Bellway 01491 352 094 bellway.co.uk

HAILSHAM, EAST SUSSEX

FROM £335,000

Forest Chase Just a few miles from picturesque lakes, countryside and parks, these homes are in a great spot for families. And with good transport links to Reading and London, they’re a dream for commuters, too. The two, three, four and five bedroom homes, just outside Yateley have French doors opening to a rear garden,

open-plan living/dining area, downstairs WC, en suite to the master bedroom, and parking or garage. There’s a great deal to do in the area, while getting around is simple, with access to major regional transport hubs.

Bellway 01252 900 044 bellway.co.uk

ISLEWORTH, WEST LONDON

FROM £325,000

Ambersey Green The beautiful East Sussex hills create the perfect setting for these stylish family homes, just outside Hailsham. The 82 houses include three bedroom semis and four and five bedroom detached properties. The homes are thoughtfully designed, with openplan living spaces, sleek kitchens with integrated appliances

and built-in wardrobes. Pretty Hailsham is home to independent shops, supermarkets, cafes and restaurants. For days at the beach, Pevensey can be reached in 15 minutes by car, and Eastbourne in 20 minutes.

Latimer 01323 459 740 amberseygreen.com

NOMA These new one, two and three bedrooms apartments just moments from the River Thames are ideal for enjoying laid-back London life. The surroundings – including landscaped gardens and a quiet stretch of the river – make it a peaceful retreat, while Piccadilly Line services from nearby Osterley run to the heart

of the capital in 30 minutes.

Inside, the apartments have full-height windows for maximum light, spacious private balconies, engineered wood flooring and stylish kitchens. There’s access to cycle storage and parking.

FRT Developments 020 8614 1216 nomaisleworth.co.uk

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REAL LIFE

Help to Buy: Banbury, Oxfordshire A Banbury couple have realised their dream of buying their very own home after years of renting in London. Sarra and Gareth Davies were fed up with paying London rental prices and knew they had to put a plan together in order to make homeownership a reality

S

arra, 46, who works as a studio floor manager for Sky News, based in Osterley, and Gareth, 45, who is an electrical engineer for a company in Buckingham, started their dream of stepping on the property ladder by moving to Marsh Gibbon in Buckingham when Gareth changed jobs.

By renting a home there, they halved their monthly rental cost meaning that they could really make a saving.

Two years on and with the help of determination, their savings, using the Government-backed Help to Buy initiative and a “little bit of luck” according to Sarra, the couple purchased a four bedroom Lancaster property at Dukes Meadow, a Davidsons Homes development in Banbury.

Sarra, who still commutes to London for work, said, “Once we’d had our mortgage approved, we started visiting new build developments in and around Bicester but nothing felt right and we really didn’t think they were offering good value for money. We loved Banbury and decided to look there instead. We started by looking online and came across Davidsons Homes. We honestly thought the properties looked too good to be true and decided to visit the Dukes Meadow development to see for ourselves.

It is in the perfect location, nestled in the heart of Oxfordshire with the Cotswolds on the doorstep.

“We explained what our budget was and what we were looking for and Davidsons thought it had the perfect property for us. I very nearly cried when I walked in the door – the property was perfect and 30 minutes

FA C T F I L E

Figures are based on the purchase of a four bedroom house

Purchase price: £369,995 5% deposit: £18,500 20% Help to Buy loan: £74,000 Mortgage: £1,134 pcm Total monthly spend: £1,134

later we’d reserved it! It was as quick as that as we knew immediately that this was the house we were looking for.

“We’ve been in the house almost a year now and couldn’t be happier. I feel

“THERE IS SUCH A LOVELY COMMUNITY HERE AND THE AREA IS SO PEACEFUL. WE LOVE OUR HOME, PARTICULARLY THE SPACIOUS KITCHEN/LIVING/DINING AREA, AS WELL AS THE LOCATION WHICH IS SO CLOSE TO THE COUNTRYSIDE THAT IT’S GREAT FOR WEEKEND WALKS”

that everything fell into place at the right time for us and that it was meant to be.

There is such a lovely community here and the area is so peaceful. We love our home, particularly the spacious kitchen/ living/dining area, as well as the location which is so close to the countryside that it’s great for weekend walks. We feel very lucky as we think we have the best of both worlds – living within these surroundings and London still being commutable. Linda, the Sales Manager, was amazing – almost intuitive and needless to say we have become good friends.”

Davidsons Homes is currently building a range of two, three, four and five bedroom homes at Dukes Meadow priced from £219,995 to £529,995. davidsonshomes.co.uk.

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LEGAL

Conveyancing need not be stressful or expensive for first time buyers!

Convey Law is a leading conveyancing firm dealing with property purchase and sale transactions across all of England and Wales. Its ultimate aim as a company is to take its conveyancing service from good to great by providing excellent customer service throughout the whole process of buying or selling property In the pursuit of improving the whole conveyancing process, and to benefit first time buyers in particular, Convey Law has developed a new Elite Conveyancer programme. The Elite Conveyancer’s role is to provide each client with one designated conveyancer who will provide regular communication and updates to ease the stress and uncertainty when buying your first house.

Everyone remembers their first venture on to the property ladder and everyone remembers forgetting what questions they needed to ask until it was too late! When you have a single conveyancer as a sole point of contact, the service is therefore shaped around the clients’ needs. Being able to speak to one individual throughout the process and simply having them on the other side of a phone call or email is so important to enable clients to trust that they are being looked after.

Convey Law understands the varying needs of a client when buying or selling a property and recognises that the main requirements are that it provides a quick, efficient, dedicated and costeffective service to make sure everyone’s transaction is as smooth as possible. However, each individual client may have different priorities.

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The Elite Conveyancers “Pilot Call” with a client at the start of the process is designed so that both parties can discuss any particulars regarding the property. Thanks to this, and the fact that it proactively looks after every client’s differing needs, Convey Law was awarded the Gold Client Service Award at the ESTAS in 2018, meaning it was voted as having the best client service in the whole UK! As members of the Conveyancing Association, Convey Law is also doing its part to change the way the

entire conveyancing process is handled, by making it more client friendly.

The Conveyancing Association holds several meetings throughout the year with a schedule of hot topics to discuss about improving the conveyancing process. Convey Law attends all Conveyancing Association meetings, workshops, conferences and seminars to talk about and implement these changes to the conveyancing process to make the home buying and selling process easier and faster for

clients. The other focus is to encourage all firms throughout the conveyancing process to provide clear and concise information to clients by cutting out legal jargon so clients fully understand the process.

If you should wish to discuss the service Convey Law offers or have any property related queries, please do not hesitate to get in touch and ask about its Elite Conveyancer programme!

Call the New Business Team on 01633 261 781 and quote FTB’s! conveylaw.com

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buyer

READERS’ AWARDS 2019

WINNERS’ SUPPLEMENT

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AFFORDABLE HOMES

PHOTOS © MATT READING

WINNERS’ SUPPLEMENT

The FTB Readers’ Awards 2019, held at the London Marriott Hotel Grosvenor Square, London were a huge success. They 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 host, Jonnie Irwin, one of television’s most versatile lifestyle presenters, welcomed the highly commended and winners from each category on to the stage to present them with their award. On the following pages, we showcase the day, so you can see who won. Most importantly, we would like

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to thank all our readers who took time to cast their all-important votes.

This year, our chosen charities were Breast Cancer UK and Prostrate Cancer UK, which raises money to help fund vital research to beat these terrible diseases. We were delighted to have exceeded all expectations and raised the amazing amount of £7,500 for these very worthy causes.

The money will certainly help these wonderful charities whose services are in greater demand than ever. We had some fabulous prizes this year so a big thank you to everyone who donated.

Congratulations to you all and we look forward to seeing you at the FTB Readers’ Awards next year.

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FINANCE

buyer

READERS’ AWARDS 2019

buyer

BEST SMALL DEVELOPMENT

READERS’ AWARDS

SPONSORED BY

This award was presented by Andy Watts, Company Director at Cast Media Group.

Winner Orbit | Hollymoor Place Highly Commended FS Properties | Calum House

BEST URBAN REGENERATION PROJECT SPONSORED BY

This award was presented by Simon Wright, Centre Manager at New Homes Law.

Winner Countryside and L&Q | Acton Gardens Highly Commended St. Modwen Homes | Cofton Grange

MOST INNOVATIVE REDEVELOPMENT OF AN EXISTING PROPERTY SPONSORED BY

This award was presented by Matthew Pilcher, Managing Partner and Andy Haeffele, Planning Director at Dave the Dog Communications.

Winner One Housing Group | Acton Town Hall Highly Commended Catalyst Housing | Rutherford Fields

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AFFORDABLE HOMES

WINNERS’ SUPPLEMENT BEST FTB MEDIA COVERAGE SPONSORED BY

This award was presented by Teleri Williams, Account Director at The Media People.

Winner Metro Highly Commended What House?

BEST LAW FIRM FOR CONVEYANCING SPONSORED BY

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

Winner Lawcomm Solicitors Highly Commended New Homes Law

BEST FIRST TIME BUYER APARTMENT SPONSORED BY

This award was presented by Wayne Bennett, Home Reach Director at heylo.

Winner Joseph Homes | Paxton House Highly Commended Peabody | The Levers

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FINANCE

buyer

READERS’ AWARDS 2019

buyer

BEST LARGE DEVELOPMENT

READERS’ AWARDS

SPONSORED BY

This award was presented by Paul Warren, Regional Managing Director in the South at LSL.

Winner Plumlife | Arkwright Place Highly Commended Southern Housing Group | Bow River Village

BEST ARCHITECTURAL DESIGN SPONSORED BY

This award was presented by Chris Browne, Commercial Director at Address Intelligence.

Winner Higgins Homes | The Reserve Highly Commended Orbit | Hollymoor Place

BEST SUPPLIER TO THE FTB MARKET SPONSORED BY

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

Winner Censeo Financial Highly Commended SiteSales

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WINNERS’ SUPPLEMENT MOST INNOVATIVE MARKETING CAMPAIGN SPONSORED BY

This award was presented by Harrison Smith, Owner of Tidywork Studio.

Winner Peabody Highly Commended Oracle Group and The Media People | Shared Ownership Week

BEST SHOW HOME SPONSORED BY

This award was presented by Kate Turner, Director at Faust PR.

Winner Peabody | West View Battersea Highly Commended L&Q | L&Q @ The Denham Film Studios

BEST FIRST TIME BUYER FAMILY HOME SPONSORED BY

This award was presented by Jeremy Turnball, Associate for Greater London Residential Development at JLL.

Winner L&Q and The Anderson Group | The Quarry Highly Commended Optivo | Ridgeview

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FINANCE

buyer

READERS’ AWARDS 2019

buyer

BEST NEW DEVELOPMENT IN THE NORTH

READERS’ AWARDS

SPONSORED BY

This award was presented by Heather Connearn, Associate Director at Space and Time.

Winner Southway | Park View Highly Commended Riverside | Chislehurst

BEST NEW DEVELOPMENT IN THE SOUTH SPONSORED BY

This award was presented by Martin Fillery, Managing Director at Complete Moves.

Winner Inland Homes | Meridian Waterside Highly Commended Clarion Housing | Unity Gardens

BEST OFF PLAN DEVELOPMENT SPONSORED BY

This award was presented by Jimmy Acton, Managing Partner at Property Booking.

Winner Strawberry Star | LU2ON Highly Commended L&Q | Parklands @ Barking Riverside

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WINNERS’ SUPPLEMENT PRIVATE DEVELOPER OF THE YEAR SPONSORED BY

This award was presented by Zoe Murzell, Managing Director at The Oracle Group.

Winner Higgins Homes Highly Commended Regenta

AFFORDABLE HOUSING PROVIDER OF THE YEAR SPONSORED BY

This award was presented by Rupi Hunjan, CEO at Censeo Financial.

Winner Metropolitan Thames Valley Highly Commended Southern Housing Group

EDITOR’S SPECIAL AWARD FOR SERVICES TO THE INDUSTRY This award was presented by Lynda Clark, CEO and Editor of First Time Buyer Magazine.

Winner Lisa Westerman

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FINANCE

buyer

READERS’ AWARDS 2019

JUDGES SPECIAL AWARD FOR OUTSTANDING CONTRIBUTION TO FTBS

buyer

READERS’ AWARDS

SPONSORED BY

This award was presented by Murray Smith, Managing Director at SiteSales Property Group.

Winner Tim Seward Highly Commended Rupi Hunjan

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WINNERS’ SUPPLEMENT

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buyer

READERS’ AWARDS 2019

buyer

READERS’ AWARDS

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DEPOSITS

THERE’S HELP WITH BUYING ANY HOME... NOT JUST NEW BUILDS Don’t have enough deposit to buy and you’re tired of being stuck in the rent trap? Don’t want to use Help to Buy as it limits you to new builds (30% more expensive) AND makes you live miles away from work and your friends? There is another way… Proportunity

An equity loan from Proportunity works like Help to Buy, but is available for any property. With a Proportunity Loan, you could: 1. Boost your deposit to 25% of the purchase price on any property, so you own more bedrooms, or move a mile closer to the centre.

2. Pay up to 40% less per month 3. Buy 10 years earlier Too good to be true? There’s more!

• You are not limited to new build flats or houses • You do not have to join a waiting list • You are not limited to the price and income caps set by Help to Buy • You can use our smart platform: proportunity.co to find hidden gems currently on the market

£500K HOME

£25K

But don’t just take our word for it…check out Rob’s story below.

I’m in... what do I need to do?

• Go to proportunity.co or book a call with us • Send us your dream home or we’ll help you look for one • Boom! Welcome homeowner • Move in, Zipvan is on us

PROPORTUNITY DEPOSIT

CUSTOMER 5% cash deposit

PROPORTUNITY £75K

eg 15% home equity loan fixed, interestonly for five years with equity payment at end

WHAT DID THIS MEAN TO ROB? Rob is 25, earns £60,000 and saved £17,000 deposit BANK ONLY

PROPORTUNITY +BANK

EARLIER

35 years old

He’s 25

BIGGER

£250,000

£300,000

CHEAPER

£1250 per month

£950 per month

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£400K

BANK MORTGAGE 80% from a high street lender

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MARKETING

GAME, SET AND MATCH

Marketing to potential first time buyers takes various forms. We are speaking with Chris Browne, Commercial Director at Address Intelligence about the resurgence of direct mail marketing as a simple and effective way to reach a target audience like first time buyers. Address Intelligence helps housing providers match their homes with potential buyers

I often receive direct mail through my door which is not relevant and I wonder why I am targeted?

I can sympathise with that, we all receive lots of irrelevant mail. A lot of the mail that’s sent is with little targeting or with little thought to the receiver’s situation or criteria. The reason why direct mail has historically been unpopular with recipients is as a result of companies’ lack of application of quality data.

When I receive property marketing mail it appears to be of interest. If I do receive this mail through my door, how do I know this information is relevant for me as a potential buyer?

First and foremost, when you receive information, our initial advice is to contact the housing provider to ensure what is on offer is correct for you. What we do at Address Intelligence is an introduction of property to the relevant target audience, through matching quality personal data. We also consider it our responsibility through a client’s brief to introduce concepts of

purchase that buyers would not have otherwise been aware of.

Affordable homeownership products do have criteria to ensure that people qualify.

One of the affordable homeownership options available to a first time buyer is shared ownership. Potential buyers of this product often don’t understand if or how they qualify and many of the schemes can be confusing. With shared ownership, you can often buy a share in the property from as little as a 25% share. As a result, housing providers offering a shared ownership scheme will aim to target relevant people who meet the shared ownership criteria.

Other friends may not have received the information I have received but it would equally be of benefit. Why is this?

Friends may not have received the information as they are not in the same location as you and therefore may not meet the criteria to buy on the development or the brief we have received from the housing provider. Many shared ownership schemes have to be marketed to people in a specific

area initially. Alternatively, they may have opted out of receiving direct mail at all and would therefore being excluded from any mailing list.

If the information is relevant, where do you get my information from and how do you know I am the right person to target?

At Address Intelligence we import data from over 30 different primary sources which is applied at address level monthly.

This ensures our data is the most up to date and relevant in the market place.

Many direct marketing companies target me every day. Why is Address Intelligence any different?

Although there have been positive regulations such as GDPR, some less diligent data providers continue to rely on old data. At Address Intelligence, we refresh all of our data every 30 days in an attempt to introduce the right buyer to the right property at the right time. addintel.co.uk

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EVENT

r u o y s e o d w o H garden grow?

The RHS Hampton Court Palace Garden Festival is a wonderful summer’s day out, packed with gardening inspiration, stunning floral displays and workshops in a majestic setting RHS Hampton Court Palace Garden Festival supported by Viking returns from 1-7 July with a dazzling summer celebration of glorious gardens, immersive floral displays, unique shopping, gourmet picnicking, celebrity talks and live music. With an abundance of beautiful gardens and plants on display, the festival will bring together thought-provoking designs to highlight the power of plants and plenty of inspiration for visitors to grow a garden they love, alongside a range of culinary experiences and workshops.

Indulge your senses in a festival of roses and unwind in relaxing gardens designed to promote health and wellbeing. Be tempted by artisan treats and tasty street food, thirstquenching summer drinks and, of course, coffee and cake.

Returning in 2019 is the famous Floral Marquee with fabulous Show Gardens filled with ideas to try at home as well as endless shopping opportunities. From contemporary to traditional, there will be plenty of handy tips for revitalising and replenishing green spaces at the Festival.

Need inspiration to grow your own food at home? Community Allotments offers a mix

of flower and vegetable planting, along with Ambassador Raymond Blanc, who will showcase gardening for sustainability, taste, affordability and beauty.

For those looking to take home a new skill, daily creative workshops will focus on everything from crafts, art and calligraphy, to flower crowns, terrariums, wellbeing, floristry and gardening. The Main Stage will offer an exciting programme of engaging talks from well-known faces such as Kelly Brook, Joe Swift and Adam Frost discussing their garden antics, plus demonstations of design and floristry, ideal for even the gardening novice.

The Lifestyle Gardens category will be bursting with ideas for visitors to take back home.

Each garden will be designed with a lifestyle in mind, whether you are trying to encourage more bees into your garden, practise meditation or use your garden plants for a range of botanical crafts. The category is ideal for visitors wanting ideas to create a garden at home to fall in love with.

Not only will visitors be spoilt for choice with plants for homes of all sizes, from sweet peas and clematis to cacti and carnivorous plants, shopping stands will offer all the latest garden and home accessories. There will also be a variety of lifestyle and beauty products available from a range of artisan businesses.

Perhaps of interest to first time buyers will be award-winning developer Crest Nicholson which is teaming up with first time designer Aleksandra Bartczak to create a small public park at the festival dedicated to physical and mental wellbeing, inspired by an initiative by local councils to promote healthy ways of living. The park will be divided into a community space and contemplation area

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allowing a place for people to come together while also providing an area for quiet contemplation. Crest Nicholson has a passion for creating not just well-designed homes, but also vibrant, sustainable communities, creating green open areas for residents to enjoy.

Brimming with activities, sights and sounds, RHS Hampton Court Palace Garden Festival is a perfect day out to enjoy with family or friends. Join in the celebrations of all that’s great about summer in the grand surroundings of Hampton Court Palace.

The RHS Hampton Court Palace Garden Festival will run from 1-7 July. Tickets cost from £20 to £37.50 in advance and up to £41.40 on the day. For further information or to buy tickets, please visit rhs.org.uk/ hamptoncourt

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COMPETITION

WIN !

WIN AG COR TECH DLES LAW S NM WOR OWER 2 TH £ .

499. 0 99

! t n e m e c r o f n E Lawn

HOW TO ENTER

Spring has sprung with longer days and warmer weather, and now cutting the grass can be a breeze with the Gtech Cordless Lawnmower 2.0 – the latest model from Gtech This new upgraded version has been designed with convenience in mind – with a charge time of just one hour and a 48V Lithium-ion battery to power through your garden for up to 40 minutes.

The three-step set up is intuitive and makes using the lawnmower very simple. The automatic controls adjust the speed to tackle thicker, longer grass, while the re-engineered blade is designed for power and efficiency. You have complete control over the cutting height, with a choice of 10mm increments between 30mm and 80mm.

The large wheels make cutting the grass easy, allowing you to move freely around your garden and not just in straight lines. With no petrol, trailing cable or pull cord to snap back, this lawnmower offers a low maintenance garden solution.

The grass bin has an upgraded capacity of 50 litres, with a handy indicator flap that lets you know when the bin needs emptying, enabling you to mow the lawn much more quickly as there is no need to constantly check the bin, making it ideal for people who mow their lawn frequently.

For added safety, the upgraded mower features an operational safety key which must be set to the ‘on’ position for the mower to start and to turn it off, set to the ‘off’ position. Once you’ve finished mowing, simply charge the removable battery and fold the mower down. The lightweight frame and carry handle make it easy to transport to the shed for clutter-free storage.

Answer the following question:

What voltage is the Lithium-ion battery used on the Gtech Cordless Lawnmower 2.0?

Send your answer with your full name, address and telephone number to: lynda@firsttimebuyermag co.uk Closing date: 20 July 2019

THE PRIZE… ONE LUCKY READER WILL WIN ONE GTECH CORDLESS LAWNMOWER 2.0 WORTH £499.99 TO HELP CUT THE GRASS IN THEIR NEW GARDEN TO ABSOLUTE PERFECTION. T&Cs • The prize is non-transferable and no cash alternative will be given. Competition is open to UK residents only.

For more information visit gtech.co.uk

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FIRST MEAL

FIRST HOME, FIRST MEAL Treat yourself and friends and family to Tira De Ancho, a delicious grilled beef marinated in chimichurri herb sauce created by Paul Fletcher, Innovation Chef for Bar + Block Steakhouse – it is bound to be a favourite!

TIRA DE ANCHO

METHOD FOR THE CHIMICHURRI 1 2 3

Blitz all ingredients, except parsley, using a stick blender or in a food processer.

Place in a suitable container, and refrigerate until it's needed.

Add chopped parsley before serving.

METHOD FOR THE SPIRAL CUT RIB EYE 1

2

Spiral cut the steak by making an incision (around 2cm thickness) down the length of the rib eye, being careful not to cut all the way through. Continue this technique so that you are rolling the rib eye out as you make each incision, and so you are left with a long rectangular piece of steak about 2cm thick.

Marinate steak in the Chimichurri in the fridge for 24 hours, (or for up to a maximum of 48 hours).

TO ASSEMBLE 1 2 3 4 5

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Cut your potatoes to 2.5cm thickness and cook in a fryer with beef dripping at 140°C for around 7 minutes.

Cook steak to your preference on a griddle pan or BBQ (I would recommend medium).

Deep fry blanched chips in beef dripping at 175°C for 4-5 minutes, drain thoroughly and season with salt.

Warm the samphire by placing it in salted boiling water for 20 seconds and then drain in a sieve.

Serve with a dipper pot of Chimichurri, warm samphire and beef dripping chips.

Paul had his first taste of the food industry 16 years ago, where he began his career as an apprentice at Chez Gerard Opera Terrace in Covent Garden. He gained invaluable experience working alongside some of the best chefs in the industry, such as Jamie Oliver, before developing his passion for steak at the likes of Barbecoa, Buenos Aires and Argentinian Steakhouse Group, and at Gaucho where he headed up the kitchen.

Paul enjoys experimenting in the kitchen, taking inspiration from great produce, budding chefs and trends on the high street. His extensive experience in the food industry has taught him the importance of quality ingredients – a value at the heart of Bar + Block Steakhouse.

Paul now heads up the menu development at Bar + Block Steakhouse and is instrumental in creating the impeccable steak offering, including rotating steak specials on the "Butcher’s Block" and dishes from the grill. barandblock.co.uk

INGREDIENTS (Serves 2) For the Chimichurri (Makes 500g) 1tsp dried oregano 1 handful parsley (stalks removed) 3 garlic cloves 1tsp chilli flakes 70ml white wine vinegar 400ml oil 2 whole red chillies (to taste) Half a white onion

       

For the spiral cut rib eye  800g (400g each) spiral cut rib eye  200g Chimichurri

To assemble  3tbsp samphire  3 potatoes  Beef dripping

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FIRST MEAL

FTB’S FAST FOOD As the weather warms up and the sun comes out there’s nothing better than lighting up the BBQ. We tried and tested a selection of BBQ treats from the UK’s top supermarkets, including many new vegan options, to see which are the tastiest BBQ FOOD

TEST WINNER

MARKS & SPENCER

TESCO

ALDI

WAITROSE

CO-OP

6 bao buns, £1.50; our best ever burger with cheese, £4; 6 posh dogs, £4; barbecue beef brisket, £8

Tesco Korean-inspired chicken kebabs £4, vegetarian peanut & avocado burgers, £1.50; *finest 4 caramelised onion burgers, £2.50; *finest 4 cheese and Jalapeno hot dogs, £2.50

The perfect burger, £2.49; British boozy bangers, £1.99; Masala roast cauliflower sausages, £1.59; red pepper and butternut squash sausages, £1.59

Chimichurri Bavette steaks, £4; Mesquite pork burgers, £4; vegan Korean-inspired burgers, £2.20; pork chorizo sausage whorls, £4

Irresistible pork & chorizo burger, £2.49; sticky maple pork kebabs, £4; incredible burgers, £2; Jalapeno coleslaw, £0.95

FTB SAYS: Marks & Spencer offered the best selection of BBQ food that we tested

FTB SAYS: Waitrose BBQ

FTB SAYS: The Co-Op

FTB SAYS: Aldi offers a good

selection is tasty but was not

selection of BBQ food does

in both quality and variety.

FTB SAYS: Tesco’s range was

selection of BBQ food with

as impressive as a couple of

not quite live up to the

The bao buns might seem

all good quality. The Korean-

a focus on vegan options as

the other ranges. The chorizo

heights of some of the other

like an odd choice but they

inspired chicken kebabs will

well as the traditional meat.

sausage whorls are succulent

food that we tested. The

offer a fantastic alternative to

certainly bring a taste of Asia

The perfect burger has a lot

and are a little spicy, but chilli

chorizo burger has a nice

your typical burger bun and

to the party. The chicken is

to live up to with its name and

lovers might want some more

smoky flavour but tended to

give an Asian-inspired twist

succulent with a fiery sauce

although good, it’s not quite

heat. The Bavette steaks are a

fall apart a little too easily.

to your meal. The best-ever

that packs a real punch. The

perfect. The bone marrow

little tough but the Chimichurri

The pork kebabs were the

burgers live up to their name

vegan peanut and avocado

within them does make a good

sauce adds a nice flavour.

pick of the bunch with a

as they don’t shrink when

burgers may divide opinion.

difference in flavour though.

The Korean-inspired burgers

good amount of chicken

cooking and the flavour is

They seem a little dry on the

The boozy bangers are perfect

are vegan friendly but the

on each skewer and were

excellent, especially with

outside but inside is moist

for a get together and the cider

texture of the burger was dry,

flavoursome. The incredible

the cheese which also has

with a good flavour and the

taste comes through nicely. The

although they do have a strong

burgers are a vegan option

gherkin, tomato and mustard

peanut is not overpowering.

cauliflower sausages have an

flavour. The pork burgers make

containing no meat but

included. The posh dogs are

The caramelised onion burgers

interesting texture and have a

a good alternative to the more

beetroot powder instead

full of flavour, a good size

are made with sweet red onion

warming spice coming through

commonplace beef burger

and the flavour isn’t great.

and have a terrific smoky

chutney which gave them a

them. The butternut squash

but perhaps lack the flavour.

The Jalapeño coleslaw is

taste. The beef brisket shreds

nice twist. You can’t go wrong

sausages are a little sweet and

Overall, Waitrose offers a

quite spicy and although

really nicely after cooking

with Tesco’s range, especially

the texture again is not like

decent selection of BBQ food,

an alternative to traditional

and the sauce is a perfect

if you’re looking for some

your typical sausage. Overall a

but there are still some better

coleslaw, it doesn’t seem to

addition. An excellent

flavours from around the world.

decent selection from Aldi.

choices out there.

go well with everything else

selection from M&S for your

★★★★

★★★

★★

on your plate.

summer BBQ.

★★★★★

FOOD FOR THOUGHT

★

Over 3.5 million people have adopted a plant-based diet but when it comes to BBQs, non-meat eaters can feel like options are limited. Gosh! produces a delicious range of plant-based burgers, sausages and bites that are perfect in a picnic or on the grill.

Packed full of flavoursome vegetables, the whole range is free from the top 14 allergens, suitable for vegans, gluten-free and kosher approved. In most supermarkets from £2.40. goshfood.com 01908 641 274 First Time T Buyer B June/July 2019 89

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FINANCE

Mortgage Clinic

By David Blake, Principal Mortgage Adviser, Which? Mortgage Advisers

David Blake has more than nine years of experience in the financial services industry and prides himself on helping first time buyers get on to the property ladder. In his current role at Which? Mortgage Advisers, David (along with the entire team) provides independent, impartial advice and searches thousands of mortgage deals to help buyers find the deal that is right for them.

mortgage then you will pay interest on it, making the total fee more expensive.

The developer of a new build property that I’m interested in is offering to pay my mortgage for the first six months (almost £10,000). What’s the catch?

While it’s not uncommon for developers to offer incentives to those looking to buy a new build property, it does make sense to proceed with caution when the bonus is going to be worth thousands of pounds.

There are a number of factors to consider before accepting the bonus and going ahead with buying the property.

Smaller incentives such as tablet computers, mobile phones and gym membership might be innocent marketing tools to entice you to view a property in the first place. However, a larger incentive that’s worth as much as £10,000 might be cause for concern, as it could be an indication that perhaps the developer is struggling to sell the property.

Do some research on the price of similar properties in the area to get an indication of whether the price of the home is significantly higher than others. If it is much more expensive then this may go part of the way towards explaining the bonus.

Some mortgage lenders will have a limit on the value of the incentive that a developer is allowed to offer you. For many lenders this is 5% of the property value, which shouldn’t be a problem unless you’re

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being offered a really significant bonus.

Other lenders have stricter rules so make sure you speak to your mortgage adviser or directly to your lender when you know what level of incentive you are being offered.

Why do mortgage arrangement fees vary so much? Should I go for the mortgage with the lowest fee?

Mortgage arrangement fees are the costs levied by your mortgage lender when you apply for a loan. They are an administration fee for arranging the credit and can vary from a few hundred to a few thousand pounds. Sometimes they can be even higher.

It might be tempting to opt for a mortgage with a low arrangement fee, but this might not offer you the best value for money in the long run. You need to find the right balance between interest rate and arrangement fee to determine the best deal.

For example, a £200,000 mortgage with an interest rate of 4% but a low arrangement fee of £99 is going to be more expensive than the same size mortgage with a 3% interest rate but a £2,000 arrangement fee.

While the mortgage arrangement fee is often charged when you are applying for your mortgage, the figure can be added to your total mortgage if you don’t have the funds available when applying. Remember that if you opt to add it to your total

I’m interested in a property but the developer is insisting I use their mortgage broker. What are my options?

If anyone during the home buying process insists that you use a certain service instead of choosing your preferred option then this should be a cause for concern.

While your developer may be completely innocent and is encouraging you to use a mortgage broker that the company has had a lot of success with in the past, there is also the possibility that it may receive an incentive for pushing you towards this particular broker.

Throughout the buying process you are largely free to select exactly which services you want to use. These could be as a result of personal recommendations, positive reviews or value for money.

When choosing your mortgage broker it’s important to pick an independent and impartial adviser who will be able to offer a full breakdown of your options. That way you can secure the best possible mortgage deal for your individual circumstances.

Buying a home is likely to be one of the most significant purchases you ever make, so it’s important to make sure you get it right for you.

For further help and advice from Which?

Mortgage Advisers, call 0800 316 0822 or visit which.co.uk/ftbmortgages

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FINANCE

Je ne regrette rien!

EXPERT COMMENT Over a quarter of buyers (27%) felt they paid over the odds to intermediaries and service providers, with 7% disclosing they felt they had significantly overpaid. People with no prior experience in purchasing a property may not be aware which

The last thing you want when you move in to your new home is to wish you’d done things differently. Kay Hill looks at some of the mistakes previous first time buyers admit to making, and has tips to avoid falling into the same traps

services and products offered to them on the homebuying journey are mandatory and which are discretionary and, importantly, whether they are good value or uncompetitive. The whole buying procedure can be intimidating, particularly for those going through the process for the first time. Fears

A survey of more than 1,200 recent homebuyers by comparethemarket.com revealed that half of them felt they had made a mistake of some kind when buying their first home. With our help, you can make sure that you regret nothing more serious than your haircut or that last drink in the pub...

around hidden fees and dealing with estate agents, lawyers, surveyors and mortgage companies are legitimate and strong enough to put off people from trying to make a purchase. Before putting in an offer on a property, make sure you do your research online, speak to family and friends about the process, use the variety of free tools available to check your eligibility for a mortgage, and get useful tips on how to avoid paying over the odds.

Mark Gordon Head of Mortgages, comparethemarket. com

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LEARN TO HAGGLE Evidently 15% of buyers wished they had haggled more on the price of their first home (which is at least an improvement on figures from Barclays Mortgages from two years ago, when 51% of first time buyers didn’t negotiate at all before buying).

Of course, the ability to haggle depends hugely on the state of the market – if homes are moving swiftly or you have your eye on your absolute dream home, trying to haggle over price may be pointless or even lose you your deal. If, however, you are prepared to walk away if the price isn’t right, then it’s always worth a try.

Before attempting to haggle, make sure you are genuinely ready to go, with a mortgage offer in your hand – if you

don’t have a property to sell and have your finance all lined up, you are more appealing to a seller than a second stepper stuck in a property chain. Do your research about comparable properties in the area so you have some figures to back up your request for a discount.

If you are looking to buy a pre-owned home, you might be able to gain a discount based on problems on a survey or things that need doing (but be polite – insulting their much-loved home won’t win you any favours). If you are negotiating directly with a developer you may find there’s little room to manoeuvre on price, but you may be able to get some valuable perks like your legal fees paid or extras such as an upgrade on kitchen units or garden landscaping.

SHOP AROUND FOR MORTGAGES A survey by credit report provider noddle. co.uk found a shocking lack of time and effort by house buyers over finding the right mortgage. Its research found that 26% of buyers didn’t shop around at all, and 19% just took the first deal they were offered.

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FINANCE The average time spent searching for a mortgage was 3.6 days, compared with six days spent looking for a new car and five days looking for a holiday!

Jacqueline Dewey, Managing Director at noddle.co.uk says, “The excitement of finding a house you’ve fallen in love with, combined with worries about being accepted for a mortgage, means it can be easy to rush a decision about a mortgage.

But when we’re talking about thousands of pounds on the line it really does pay to do your research. Rates vary across the market so don’t take the first deal available and try to speak to more than one lender.

Understanding your credit score and getting it in good shape beforehand will also help you get the best rates.”

The comparethemarket.com survey found that only 12% of buyers made use of a price comparison website to look at mortgages, compared with 24% who just went straight to their bank rather than shopping around.

CHOOSE A BROKER WITH CARE While 11% said they wouldn’t dream of trying to find the best mortgage deal without a broker, 19% were concerned that they still didn’t end up getting the best deal, and 8% wished they had shopped around more before choosing a broker. Before using a broker, always check the range of mortgages they can access and find out how they charge – some may charge a flat rate fee, others a percentage of the purchase, and a few don’t charge at all but take a commission from the lender.

still a price. Its survey of more than 2,000 homebuyers found that 77% had furious rows with their nearest and dearest over doing up the home, half of couples complained that all that DIY had ruined their love life, and an unlucky 7% said the stress of doing a major building project actually led them to split up altogether! To cap it all, 67% of those who bought a house in need of major repairs admitted that they ended up resenting their nightmare home for all the time and stress. Unless you have considerable DIY experience, time on your hands and an easygoing nature, there’s a lot to be said for a brand new home!

EXPERT COMMENT Life in the UK has changed a lot since the mortgage market was set up, yet most high street banks still base their mortgage criteria on what a typical buyer looked like 40 years ago. Yet more Brits are starting their own businesses, working flexibly, freelancing or parttime, and choosing to take breaks from regular employment to work abroad or travel. Given the size of the mortgage market – covering hundreds of possible deals, and thousands of different criteria points,

READ THE SMALL PRINT

which regularly change – it’s not

Some regrets could have been easily avoided if buyers had asked more questions and read the small print carefully. NAEA Propertymark’s recent survey found that 45% of leasehold house owners didn’t actually release they were only buying the lease until it was too late, with 62% feeling they were mis-sold and 94% regretting the purchase. Always make sure you know whether you are buying freehold or leasehold. If it’s freehold, check if you still have a service charge to pay for communal areas and how much it is. If it’s leasehold, check how long the lease is for and what ground rent and service charges are involved.

of the available deals and criteria

possible for borrowers to know all in depth. Additionally, not every mortgage broker has access to specialist lenders who can consider non-standard applications which is why it’s all the more important for people to shop around. At Online Mortgage Advisor we can connect you with a broker who’s suited to best deal with your situation. The expert advisors we work with have helped over 68,000 people from all walks of life find the perfect mortgage, including many who may have had a mortgage declined or refused, usually because the standard of advice could have been better.

Pete Mugleston Co-Founder, Online Mortgage

HOLD BACK SOME CASH

Advisor

One in 10 homeowners made the mistake of using all their savings to fund the deposit on their first home, leaving them with no emergency savings and nothing for decorating. According to the Government’s Money Advice Service, “A good rule of thumb to give yourself a solid financial cushion is to have three months’ essential outgoings available in an instant access savings account.

So if you lose your job, for example, it will help buy you three months to find a new one. In other words, if you spend £1,000 a month on mortgage or rent, food, heating bills and other things you can’t live without, you should aim for £3,000 in emergency savings.”

DON’T DIY While it’s certainly true that you can buy a “fixer-upper” at a vast discount, research from mybuilder.com suggests there is

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New build homes – just how satisfied are buyers?

EXPERT COMMENT To retain our five-star rating we must continue to develop our high-quality service and customer journey. We recognise that customer service is a company culture, not just a function of the customer service team, and this is a strategy we will continue to drive, through all levels of our business, from our sales teams to our site managers.

Initiatives such as these are vital if we are to continue improving our customer satisfaction levels and we look forward to announcing our latest innovation soon that will further enhance our customers’ homebuying experiences.

Tom Roberts Media & Content Manager at five-star rated housebuilder, Redrow

EXPERT COMMENT Our vision is to lead the future of housebuilding by putting the customer at the heart of everything we do. The release of the HBF (Home Builders Federation) customer satisfaction

The papers regularly feature scare stories of buyers of new build homes who, once they move in, find numerous problems that the developer fails to put right. Despite this, there are many reasons to opt for a new build home – energy efficiency, not having to carry out DIY or spend thousands on renovations are all good reasons and, for first time buyers in particular, getting financial help through the Help to Buy scheme can be an added incentive. As many first timers opt for a new build home, Ginetta Vedrickas investigates what rights you have and how best to avoid problems

survey is one of the most important dates in the calendar and the scores are a real marker for us as a business.

We are enormously proud to be the only major national housebuilder to be rated as five-star for the past 10 years and will continue to work hard to keep our customers satisfied.

David Thomas Chief Executive, Barratt Developments

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NEW BUILD WARRANTIES

HOW WARRANTIES WORK

Newly built homes tend to have less that can go wrong but, designed for peace of mind, all new properties come with a 10-year building guarantee. This warranty is taken out by the builder or developer, but it’s there to protect you, the buyer. There are three main providers of new home warranties – the National House Building Council (NHBC) which is the most common, covering 80% of all new homes, Local Authority Building Control Warranty (LABC) and Premier Guarantee. All operate under the Consumer Code for Home Builders.

A warranty covers you when buying new build, but it’s still vital to check beforehand what it does and doesn’t cover and the exact dates that it operates. Many new properties are sold “off plan”, before the property is fully constructed.

Once you exchange contracts, your warranty covers your deposit against the firm becoming insolvent. This means that if the builder goes bust and doesn’t start or complete the property you get your deposit back from whoever provided your warranty. Once the property is built, the warranty is split into two periods – the defects insurance

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MARKET

period, which covers the first two years, and the structural insurance period which covers years three to 10.

During your first two years in the property, often called the “snagging” period, if you do find issues with the building, for example sticking doors and windows, faulty heating or any leaking pipes, the developer is bound by the warranty to put things right. But, after two years, once you’re in the structural insurance period, the builder is only responsible for major structural problems such as foundations, external render, roofs, ceilings, chimneys and load-bearing parts of the floors. Smaller “defects” are now your own responsibility, such as problems with gutters or fixtures and fittings.

WHAT CAN BUYERS DO TO PROTECT THEMSELVES? Doing your research before buying a new build home is vital. If the development you are considering isn’t yet built, visit the developer’s previous developments to assess whether the buildings still look in good condition and speak to owners there if possible. Investigate the developer’s reputation when it comes to customer satisfaction, as all developers are awarded an annual rating.

HOME BUILDER’S FEDERATION ANNUAL SATISFACTION SURVEY Since 2005, the Home Builders Federation (HBF) has published a satisfaction survey examining just how satisfied new build homes buyers are. Published each March, this year’s survey reveals that house builders have improved buyer satisfaction levels, with 87% of the new home owners surveyed saying they would recommend their builder to a friend, up 1% on last year, with over 90% saying they would buy a new build home again. The survey, according to the HBF, “demonstrates quite clearly that the vast majority of people who actually buy and live in a new build home are happy with them”. While the previous four years saw falling levels of satisfaction, the HBF is optimistic that the latest figures show that improvements are being made.

FIVE-STAR RATED HOUSEBUILDERS All developers are given an annual rating, with the top-rated getting five stars. Barratt Developments, the UK’s largest housebuilder, recently received five stars for the 10th year in a row, which the housebuilder says is a record.

Barratt says that it focuses on “quality, design and looking after its customers, particularly post sale”, which it believes has resulted in high levels of satisfaction. Other current five-star housebuilders include Redrow, which last year started up “hard hat” tours for its buyers which the housebuilder

says “have helped create an open dialogue between our customers and site team” and which gives them the opportunity to better manage customer expectations.

IMPROVING THE NEW BUILD HOME BUYING PROCESS Buyers may be more satisfied with their new homes, but some organisations want to see safety nets put in place to protect buyers who aren’t happy. The HomeOwners Alliance and BLP Insurance commissioned a national survey which looked at new build homeowner satisfaction throughout the whole of the purchase and ownership experience.

While new build home buyers were generally satisfied with some aspects of the sales process, just 54% felt the warranty was clearly explained and only 57% felt their warranty provider resolved disputes with the builder in the first two years of ownership or put right any structural problems.

The survey found that almost nine out of 10 (88%) of new build homeowners and three-quarters (76%) of UK adults would like to see “snagging retention”, a proposed fee system to withhold 2.5% until house builders put right any faults.

This, they say, would “incentivise builders to build right first time, improving quality standards” and would “hold builders to account when problems arise”.

REVIEWS FOR NEW BUILD HOMES There are other proposals to improve the process.

Launched earlier this year, homeviews.com has been likened to “TripAdvisor for new homes” and has been welcomed by both the industry and bodies such as the HomeOwners Alliance.

Residents, both owners and tenants, are asked to rate the “design, facilities, location, value and management” of their building as well as write a review. Tenants and owners can read and write reviews as well as add their own development if it is not already listed. Interestingly, first time buyers tend to rate their development higher than other property owners (4.36 compared to 4.12 out of 5) and give significantly higher ratings for value, facilities and management.

HomeViews believes that the difference in ratings could be down to a differing expectation or a reflection of the current pricing in the sales market and newer home owners being able to buy properties beyond what they expected a few years ago. Large-scale developers such as Ballymore, Capco and Stanhope have already shown their support for the site. The overall aim is that HomeViews will help improve living standards within new build developments and challenge developers to provide the best possible buildings and service. Currently the site is only active for over 600 London developments, but it will be expanding nationwide by this summer.

EXPERT COMMENT We see lots of positive reviews relating to owner experience of buying new build developments, however the consistent themes regarding any issues are the communication around delays and snagging issues post-completion.

We have seen fantastic reviews and ratings from first time buyers and those that have benefited from the Help to Buy scheme. A great example is Deptford Foundry by Anthology – this development has a near-perfect rating from its first residents and has received five HomeViews awards.

With reviews titled “Dream flat, dream developer”, Anthology is definitely getting things right for its customers.

Rory Cramer Co-founder of HomeViews, the newly launched and first review platform for residential developments

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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 Jeremy Marcus Sales and Marketing Director, Higgins Homes PLC

Moving to London Sandy MacMillan MD, Full Comms

Andrew Mannion CeMAP Director (New Build Business Development) RSC New Homes

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

Q

I’ve been offered a new job which requires relocating to London. I’m really excited for the move, but I’d like to avoid sky high rent and thought now might be the time to buy. I have been considering Help to Buy, but I am confused as to how it works. Can you tell me more about it and what eligibility criteria I will have to meet?

Jack French, Solihull

A

Moving to London is an exciting proposition, but there is a price to pay for living in one of the greatest cities in the world and that is expensive rental charges.

Housebuilders and the Government have responded to the need for affordable housing by extending Help to Buy for those wanting to buy in London.

Paying a mortgage is often much more affordable than rental costs and with a property, you will be investing in your own future. For first time buyers looking to invest in new build only, it is definitely worth considering Help to Buy. At White + Green you can secure a brand new home with a 5% deposit and a Government loan of up to 40% of the purchase price. Your mortgage would make up the rest. This opens up the property market for many more first time buyers and gives a greater choice with the size and price of home they can buy. Help to Buy is not available for the secondhand market so when you consider this along with the inevitable renovation costs when buying an older home, it makes financial sense for a first time buyer to consider new build.

Moving to London, it is important to also consider commuting options. At White + Green, the apartments are situated between the underground stations of Whitechapel and Bethnal Green, giving an excellent choice of transport links. This is set to improve further with the introduction of the Elizabeth Line/Crossrail at Whitechapel, offering a journey time of just two minutes to Liverpool Street, 16 minutes to King’s Cross and three minutes to Canary Wharf.

As a first time buyer, it is also important to think about the potential investment opportunity in the area where you are buying. Bethnal Green and Whitechapel are at the heart of London’s artistic community and in terms of investment, there is plenty of redevelopment happening in the housing market as well as the general area with smart, independent restaurants, bars and boutiques opening.

Help to Buy is certainly getting more people into their first homes and allowing them to live in a place that is often beyond their expectations.

To get further information about eligibility for Help to Buy, please contact the sales office on 020 7247 2025 or visit the website at higginshomes.co.uk Jeremy Marcus

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EXPERTS

Help with mortgage

Q

I’m a first time buyer and after renting for a number of years I am now in a position to buy and I’m looking at new homes. To be honest, I don’t know where to begin with the mortgage. It’s a bit of a minefield! Can you help me?

Nick Shaw, Barnet

I’d advise finding a new homes mortgage specialist who will be able to help you in selecting a mortgage, based on your existing and potential future finances and circumstances, and also inform you of any incentive schemes that might be available to you, such as Help to Buy. Most mortgage advisers will have access to a comprehensive panel of mortgage lenders so, with the adviser’s help, you’ll be able to compare the various mortgage deals on offer and from these decide which might be the best one for you.

Don’t worry if you don’t initially understand how mortgages work, or what the various options might offer, as you should get a full explanation at your mortgage appointment. This should include details of any fees that might apply and the costs of insurances that you might be recommended to take out as a new homeowner.

To help you further, some mortgage advisers will have the support of dedicated case handlers who will manage your mortgage application from submission through to completion.

They usually deal with matters, or questions, that you might find hard to address, or will communicate directly with the house builder about the progress of your mortgage application; meaning you don’t have to.

To find a mortgage adviser you could take the recommendations of family or friends or do some research yourself. You’ll need to ensure that they are fully qualified, experienced in handling first time buyer applications and, if possible, have a record of good

A

Top tips

Q

My friend and I are first time buyers who are just starting out with our property search together. What would be your top three tips for us?

Mandy Morgan and Phoebe Didcase, Maidstone

A

At this stage of your search, I suspect you are feeling a sense of excitement and optimism, but also potentially feeling a little overwhelmed by everything. Remind yourself that this is quite normal, and that buying your first home is a big deal. There are a few things you can do now to get ahead and put yourself in the best position.

1. Carry out some initial research Time spent researching now, before you start your property search, can save you a lot of time and unnecessary disappointment

customer service. It might be worth checking out any customer reviews you can find.

In terms of mortgage adviser fees, some will offer a free appointment, if buying through a particular house builder, or may offer special first time buyer fees – it’s worth checking before you make the appointment. All in all, getting professional help should help put your mind at rest and ensure that buying for the first time is an exciting – not daunting – experience.

Whether you’re buying your first home, moving house or remortgaging, our team of mortgage advisers will provide all the help and advice you need at every stage of the process.

RSC New Homes Ltd specialises in new build mortgages and works closely with many new home builders to ensure your mortgage is progressed as smoothly as possible. Our mortgage advisers are available to help you seven days a week. please contact us on 0161 486 6278 or visit rscnewhomes.com or email to enquiries@rscnewhomes.com.

Andrew Mannion

later down the line. Is shared ownership or Help to Buy right for your circumstances, or can you afford to buy outright? You should consider which areas you can see yourself living in, and which are affordable for you.

The type and size of your home, along with your must-have features should all be given serious thought. These things may change, but it’s important you have a good idea of what you are after from the outset, and equally what factors you are willing to compromise on such as whether location is more of a a priority than a spare room.

outgoings and your spending habits and asking yourselves i you can cut back a little will also help grow your deposit pot faster. Can the latte on the way to work be swapped for a cuppa in a Thermos, or the twice-weekly takeaway switched to once a fortnight? That £3 coffee every day is £60 a month, or over £700 a year!

Buying a shared ownership home will also mean taking out a mortgage only for the share that you own, and this can be a great way of reducing the size of the mortgage and deposit you need.

2. Start saving as soon as you can The best mortgage deals (ie the ones with the lowest interest rates) are available to customers with the highest deposit levels.

For most people, regular saving is more effective than relying on irregular oneoff sums. Taking advantage of the Help to Buy: ISA is also a great idea – designed for first time buyers, for every £250 saved you’ll receive a 25% bonus stretching your savings even further! Check out helptobuy. gov.uk for more details on which banks and building societies are offering the ISA. Being aware of your existing monthly

3. Use the right property-finding tools The best place to find a home with shared ownership or Help to Buy is on a specialist website like Property Booking – propertybooking.co.uk. There are a vast number of homes advertised for sale nationally, as well as some very handy features such as suitability checks and the ability to book viewings online. The main search tool is very intuitive, and your search results are plotted on a map to make things as easy as possible.

Sandy Macmillan

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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 runs several Help to Buy schemes to help people get on to the property ladder. To be eligible for Help to Buy your household income needs to be less than £60,000 a year. For more details, contact a Help to Buy Agent. Help to Buy Agents are housing associations that handle the application process for Help to Buy products. Details of Help to Buy Agents start on page 106.

BUYING ON THE OPEN MARKET

FUNDING OPTIONS

JARGON EXPLAINED

G O V E R N M E N TBACKED SCHEMES

EQUITY LOAN

HELP TO BUY The government will provide you with a 20% equity loan that is interest free for the first five years with interest charged at 1.75% in the sixth year and at annual RPI (retail price index) inflation plus 1% after that. The loan must be repaid when the property is sold or within 25 years. Buyers need to raise a deposit of 5% and a 75% loanto-value (LTV) mortgage. Only new build homes valued up to £600,000 can be bought. The scheme is available for ftbs and movers.

STARTER HOMES Starter Homes is a government initiative that aims to provide up to 200,000 affordable new build homes to first time buyers in England by 2020. The properties will be built on brownfield land and sold at a 20% discount compared to the market price in the area. You must be between 23 and 40 years old and never have owned a home before. The price of the new properties will be capped to £450,000 in London, and £250,000 outside the capital.

NEW BUILD HOMEBUY, ALSO KNOWN AS SHARED OWNERSHIP OR PARTBUY, PART-RENT

Most people buy property on the open market. Homes are either offered for sale by estate agents or sold privately. These include flats, houses and former local authority properties.

This scheme gives buyers the chance to purchase as little as a 25% share in a property and pay the rest in the form of subsidised rent. In the majority of cases, there is the opportunity to own the rest of the property outright by a method known as ‘staircasing’.

PRIVATE INITIATIVES

RENT TO HOMEBUY

Some house builders offer first time buyer incentives on new build homes.

These include cash back, a loan to help you with costs or paying your mortgage for a set period of time.

To find out more, contact developers directly.

With this scheme you rent a newly built property for up to five years and pay a reduced rent. This gives you the chance to save for a cash deposit so you can apply to buy a share of the home later.

This is a loan for a certain percentage of a property’s value.

If you remain 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).

HOMES ENGLAND This is a government organisation that funds affordable homes including those under Help to Buy.

STAIRCASING This applies to New Build HomeBuy schemes and occurs when the resident tops up the number of shares they own in their part-owned, part-rented home until they own the maximum share or own the property outright. The shares can be bought in 10% increments.

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 lender’s lending criteria.

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The ftb process TIPS

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

F

Unless you have enough money to buy a property outright you’ll need a mortgage. A mortgage is a loan used to buy a property and is normally repayable over 25 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 at a bank 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 bank, 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 at least 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 to have at least three months of bank statements, payslips or tax returns, a valid passport and information on any outstanding loans. Banks 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 the mortgage rate you’ll be offered.

BUDGET Work out how much you can afford to repay each month. Look at your income and outgoings, including bills, council tax, food, insurance and travel. If you are buying a leasehold flat, you’ll also have to budget for service charges, so find out how much they will be.

MORTGAGE BROKERS VS BANKS 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 ‘quotation’ (soft) search rather than an ‘application’ (hard) search.

Too many applications will leave ‘footprints’ on your credit score and can affect your rating. To improve your credit score, make sure you’re on the electoral roll, and pay your bills and any loan repayments on time.

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 will only be able to sell you products offered by that particular bank, 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 mortgage deals yourself using websites such as 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 pay off any debts you can.

moneysupermarket.com or moneynet.co.uk, then apply directly to your chosen lender.

FIXED-RATES Some mortgages are fixed-rates. This means you’ll pay the same rate of interest for a certain period of time, and your repayments 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 or remortgage to another lender. Remortgaging to another lender will usually 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 have repayment rates directly linked to the base rate and are liable to fluctuate, so you need to be sure you could afford higher repayments if rates rise.

REPAYMENT OR INTEREST-ONLY You can either pay your mortgage on a repayment or interest-only basis. If you choose a repayment mortgage, your monthly payments will pay off some interest and some capital. At the end of the term, you’ll own your home outright.

With an interest-only mortgage you’ll have smaller monthly payments, but these only pay the interest on the loan. At the end of the term you’ll still owe the original mortgage sum. If you take out an interestonly mortgage, you’ll need to have a plan in place (such as an investment) as to how you’ll pay off the capital.

SHOP AROUND

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

RESEARCH

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BUYERS’ GUIDE

TIPS

RESEARCH AN AREA

T

a floor plan. Sign up with as many estate agents as you can (and your local HomeBuy Agent housing associations if you’re looking at shared ownership properties). They should send you new properties that match your description, but it’s worth phoning agents regularly.

Buying a home is a big investment.

You need to buy a home you can afford and one

horough research

you’ll 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 visit 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 properties are listed on property portals such as findaproperty.com or propertyfinder.com or estate agents’ own websites.

Most of the properties featured have pictures and descriptions and some have DECIDE ON A LOCATION

Be practical.

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

RESEARCH THE AREA

Check out crime rates, future regeneration or new transport links.

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 décor 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.

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

SEARCH

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

VIEWINGS

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

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, although be aware that prices have dropped significantly in the past year.

If you like a property, aerial shots of the area can be viewed at earth.google.com Before you put in an offer, visit the street at different times to make sure it’s safe. 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.

OFFER

When making an offer, don’t be afraid to ask for less than the asking price.

If the property needs work done on it, use this as a negotiating tool.

SURVEY

BUYING

Make sure you get a survey done – it could save you money in the long run.

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BUYERS’ GUIDE

B

uying process

BUYERS’ COSTS 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 £500-£1,500

MORTGAGE FEE £0-£1,000

VALUATION £0-£300 (depending on your mortgage deal)

SURVEY £300-£500 (depending on the type of survey you have done)

SOLICITORS 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 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

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.

EXCHANGE AND COMPLETION Once the mortgage offer is in place, the contract is satisfactory and buildings insurance has been organised, both parties will agree an exchange date. On 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 exchange can be on the same date as the completion, but they are usually a week to 10 days apart. On completion, the final paperwork is done, and the property is legally yours.

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

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.

SOLICITORS

Compare quotes from solicitors, and ask your friends if they can recommend someone.

A good solicitor can make a big difference to a purchase completing or falling through.

LOCAL AUTHORITY SEARCH FEES £300 (included in your solicitor’s bill)

LAND REGISTRY FEES £50-£920 (depending on the property’s value, e.g., £200 on a property costing between £100,000 and £200,000).

MORTGAGE BROKER’S FEE 0-1%

STAMP DUTY 0% for properties costing up to £125,000

2% for properties costing between £125,001 and £250,000

5% for properties costing between £250,001 and £925,000

10% for properties costing between £925,001 and £1,500,000

BUILDINGS INSURANCE £300 per year, payable monthly or in advance.

Buildings insurance can cost a lot more if your property is at risk of flooding.

TIME SCALE 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.

SEARCHES

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.

INSURANCE

After you’ve exchanged contracts, arrange buildings insurance – this will be a condition of your mortgage offer.

REMOVALS

Shop around for a removals firm, and find one that can move your possessions on completion day.

SERVICE CHARGES AND GROUND RENT ON LEASEHOLD FLATS £100-£4,000

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 home buying glossary is here to make the process a whole lot easier to understand AGREEMENT IN PRINCIPLE

DISBURSEMENTS

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.

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.

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 use the Bank of England base rate to set their own charges.

BROKER

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.

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 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 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 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 tax 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.

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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) eg 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

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

HELP TO BUY NORTH EAST, YORKSHIRE & THE HUMBER Tel: 0113 825 243 6888 6893 helptobuyneyh.co.uk

HELP TO BUY NORTH WEST Tel: 0300 790 0570 helptobuynw.org.uk 1) 2) 3) 4) 5)

Cumbria Lancashire Merseyside Greater Manchester Cheshire

1) 2) 3) 4) 5) 6) 7)

1 2

Northumberland Tyne & Wear Durham North Yorkshire West Yorkshire South Yorkshire East Riding of Yorkshire

3

1

HELP TO BUY EAST AND SOUTH EAST

HELP TO BUY MIDLANDS Tel: 0345 850 2050 helptobuymidlands.co.uk

Tel: 03333 214044 helptobuyese.org.uk

4

1) Shropshire 2) Staffordshire 3) Derbyshire 4) Nottinghamshire 5) Lincolnshire 6) Herefordshire 7) Worcestershire 8) West Midlands 9) Warwickshire 10) Leicestershire 11) Rutland 12) Northamptonshire

1) Norfolk 2) Cambridgeshire 3) Suffolk 4) Bedfordshire 5) Buckinghamshire 6) Hertfordshire 7) Essex 8) Surrey 9) Kent 10) West Sussex 11) East Sussex

7

2

5 4

3

6

5

3

5

4

2 HELP TO BUY SOUTH

8

Tel: 0800 456 1188 helptobuysouth.co.uk 1) 2) 3) 4)

Gloucestershire Oxfordshire Bristol Bath & NE Somerset, Mendip and North Somerset 5) Wiltshire 6) Berkshire 7) Hampshire 8) Isle of Wight

7

6

1

5

5 7

8 1 HELP TO BUY SOUTH WEST Tel: 0300 100 0021 helptobuysw.org.uk Cornwall Devon South Somerset Dorset

7

1 9

8

4

1) 2) 3) 4)

6

6 4

3

4 2

3

2

12

9

3 2

1

11

10

1

10

11

HELP TO BUY LONDON Tel: 0300 500 0996 helptobuylondon.co.uk 1) London

Map supplied by Help to Buy South

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USEFUL CONTACTS

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

LONDON

SOUTH

Help to Buy London

Tel: 0800 456 1188

0300 500 0996

helptobuysouth.co.uk

helptobuylondon.co.uk Gloucestershire Share to Buy

Oxfordshire

sharetobuy.com/firststeps

Bristol Bath & NE Somerset,

Please note:

Mendip

Help to Buy agents

and North Somerset

administer the Help to

Wiltshire

Buy: equity loan scheme

Berkshire

but not the mortgage

Hampshire

guarantee scheme. They

Isle of Wight

have the authority to give

MIDLANDS

the go-ahead for you to purchase a home with help from the equity loan

Tel: 0345 850 2050

scheme. The agents make

helptobuymidlands.co.uk

other key decisions during the purchase process. For

Shropshire

the Help to Buy: mortgage

Staffordshire

guarantee, please contact

Derbyshire

the participating lenders

Nottinghamshire

directly.

Lincolnshire Herefordshire

EAST & SOUTH EAST

Worcestershire West Midlands Warwickshire

Tel: 03333 214 044

Leicestershire

helptobuyese.org.uk

Rutland Northamptonshire

Norfolk

NORTH WEST

Cambridgeshire Suffolk Bedfordshire

Tel: 0300 790 0570

Buckinghamshire

helptobuynw.org.uk

Hertfordshire Essex

Cumbria

Surrey

Lancashire

Kent

Merseyside

West Sussex

Greater Manchester

East Sussex

Cheshire

SOUTH WEST

NORTH EAST, YORKSHIRE & THE HUMBER

Tel: 0300 100 0021 helptobuysw.org.uk

Tel: 0113 825 6888 Cornwall

helptobuyneyh.co.uk

Devon South Somerset

Northumberland

Dorset

Tyne & Wear Durham North Yorkshire West Yorkshire South Yorkshire

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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

Hyde New Homes

Places for People

Town and Country Housing

octaviahousing.org.uk

bmapg.com

hydenewhomes.co.uk

placesforpeople.co.uk

tchg.org.uk

020 8354 5500

020 8942 4062

0345 606 1221

01772 667 049

01892 501 480

Optivo

Chelmer Housing Partnership

L&Q

Rosebery Housing

Worthing Homes

optivo.org.uk

chp.org.uk

lqgroup.org.uk

Association

worthing-homes.org.uk

0800 012 1442

0300 555 0500

0300 456 9998

rosebery.org.uk

01903 703 108

homesbycatalyst.co.uk 0300 456 2099 Clarion Housing myclarionhousing.com/

01372 814 000

SOUTH WEST

sharedownership

Origin Housing

CHS Group

Metropolitan

020 7378 5638

originhousing.org.uk

chsgroup.org.uk

metropolitansales.org.uk

Sanctuary South East

0300 323 0325

0300 111 3555

020 3535 2555

sanctuary-housing.co.uk

Aster Group

0800 131 3348

buyanasterhome.co.uk

Estuary Housing Association

01380 735 480

estuary.co.uk

Paradigm Housing

Clarion Housing

Moat

0300 304 5000

paradigmhousing.co.uk

myclarionhousing.com/

moat.co.uk

Soha Housing

0300 323 0011

Soha.co.uk

Cornerstone Housing

01235 515 900

cornerstonehousing.net

0845 337 4877

sharedownership

Fabrica

Peabody

020 7378 5638

fabrica.co.uk

peabodysales.co.uk

0800 783 2159

020 7021 4842

Gateway Housing

Places for People

Association

placesforpeople.co.uk

gatewayhousing.org.uk

01772 667 049

020 8709 4300

Crown Simmons

nhgsales.com

Southern Home Ownership

crownsimmons.org.uk

0333 000 4000

shosales.co.uk

CURO

0300 555 2171

curo-group.co.uk

01372 461 440 Estuary Housing

nuliving.co.uk

Sovereign Housing

Association

0800 819 9390

sovereignliving.org.uk

Elim Housing

0300 500 0926

elimhousing.co.uk

estuary.co.uk

Guinness Partnership

sanctuary-homes.co.uk

0300 304 5000

guinnesspartnership.com

0800 916 1444 Fabrica Site Sales

fabrica.co.uk

Hexagon

site-sales.co.uk

0800 783 2159

hexagon.org.uk

020 8502 5758

020 8778 6699

Flagship Homes Shepherd’s Bush Housing

flagship-homes.co.uk

Home Group

sbhg.co.uk

0808 168 4555

homegroup.org.uk

020 8996 4200

0345 141 4663

01225 366 000

Nu Living

Sanctuary London

0303 123 1890

01392 273 462

Notting Hill Genesis

Guinness Partnership

01454 411 172

One Housing Group onehousing.co.uk

Stonewater

0300 123 9966

stonewater.org

Green Square

01202 319 119

greensquaregroup.com 01249 465 465

Optivo optivo.org.uk

Swan Housing Association

0800 012 1442

swan.org.uk

Guinness Partnership

0300 303 2500

(Hermitage) guinnesspartnership.com

Origin Housing originhousing.org.uk

Thames Valley Housing

0300 323 0325

Association

0303 123 1890

tvha.co.uk

Hastoe Housing

020 8607 0550

Association

Southern Home

(South)

Hyde New Homes

Ownership

guinnesspartnership.com

Orwell Housing

hydenewhomes.co.uk

shosales.co.uk

0303 123 1890

Association

hastoe.com

0345 606 1221

0300 555 2171

orwell-housing.co.uk

0300 123 2250

Hastoe Housing

0345 601 0030

Islington and Shoreditch

Swan Housing Association

Association

Housing Association

swan.org.uk

hastoe.com

PA Housing

isha.co.uk

0300 303 2500

0300 123 2250

pahousing.co.uk

Thames Valley Housing

Home Group

L&Q

Association

homegroup.org.uk

Paradigm Housing

lqgroup.org.uk

tvha.co.uk

0345 141 4663

paradigmhousing.co.uk

0300 456 9998

020 8607 0550

0300 131 7300

0300 123 2221

0300 303 1010 Housing Solutions Group

Metropolitan

Wandle Housing

housingsolutions.co.uk

Peabody

metropolitansales.org.uk

Association

0800 876 6060

peabodysales.co.uk

020 3535 2555

wandle.com

020 7021 4842

0300 200 0120 Newlon Living

SOUTH EAST

newlonliving.co.uk 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 Liverty

0300 100 1010

dchliverty.com

MIDLANDS

0300 123 8080

Adactus Housing Group

Derwent Living Housing Association

Midland Heart

Rooftop Group

adactushousing.co.uk

derwentliving.com

midlandheart.org.uk

rooftopgroup.org

0300 111 1133

01332 346 477

0345 602 0540

0800 042 1800

Places for People

Accent Group

placesforpeople.co.uk

accentgroup.org

East Midlands Housing

Muir Group

Sanctuary Midlands

Association

01772 667 049

0345 678 0555

Association

muir.org.uk

sanctuary-housing.co.uk

arcon.org.uk

emhhomes.org.uk

0300 123 1222

0800 131 3348

0161 214 4120

Rooftop Housing Group

Accord

rooftopgroup.org

accordgroup.org.uk

0800 042 1800

0300 111 7000

Sanctuary Southwest

Acis Group

sanctuary-housing.co.uk

acisgroup.co.uk

0800 131 3348

0800 027 2057

Severn Vale Housing

Bromford Group

svhs.org.uk

bromford.co.uk

01684 272 727

0330 123 4034

Arcon Housing

0300 123 6000 Nottingham Community

South Staffordshire

CDS Co-operatives

Friendship Care & Housing

Housing Association

Housing Association

cds.coop

fch.org.uk

ncha.org.uk

ssha.co.uk

0333 321 3030

0300 123 1745

0800 013 8555

01785 312 000

Home Group

Orbit

Waterloo Housing

edenha.org.uk

homegroup.org.uk

orbit.org.uk

Association

01768 861 400

0345 141 4663

0800 678 1221

waterloo.org.uk

Guinness Partnership

PA Housing

(Northern Counties)

pahousing.org.uk

WM Housing Group

0116 257 6716

wmhousing.co.uk

Eden Housing Association

0800 435 016

Sovereign Housing

Caldmore Accord

guinnesspartnership.com

sovereign.org.uk

caldmoreaccord.org.uk

0303 123 1890

0300 500 0926

0300 111 7000

Equity Housing equityhousing.co.uk

0300 790 6531 placesforpeople.co.uk 01772 667 002

Stonewater

Clarion Housing

landh.org.uk

stonewater.org

myclarionhousing.com/

0345 309 0700

01202 319 119

sharedownership

Guinness Partnership (Northern Counties)

Places for People L & H Homes

0300 123 4460

NORTH WEST

guinnesspartnership.com 0303 123 1890

Accent Group Riverside Housing

accentgroup.org

Home Group

Metropolitan

Association

0345 678 0555

homegroup.org.uk

Westward Housing

metropolitansales.org.uk

riverside.org.uk

westwardhousing.org.uk

020 3535 2555

0345 155 9029

020 7378 5638

0345 141 4663

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USEFUL CONTACTS HELP TO BUY PROVIDERS 0303 123 1890 Impact Housing

0345 155 9029

impacthousing.org.uk 0344 873 6290 Irwell Valley Housing

Home Group Sanctuary North

homegroup.org.uk

sanctuary-housing.co.uk

0345 141 1663

0800 131 3348

Association

homegroup.org.uk 0345 141 1663

Wakefield and District Karbon Homes

wdh.co.uk

karbonhomes.co.uk

0345 850 7507

0808 164 0111

Your Housing Group

Places for People

yhghomes.co.uk

placesforpeople.co.uk

0845 618 5008

01772 667 002

Association

0161 610 1000

yhghomes.co.uk

lfha.co.uk

0845 618 5008

0113 386 1000

Knowsley Housing Trust 0151 290 7000

Home Group

01202 319 119

Housing

Your Housing Group

YORKS/ HUMBER

stonewater.org

Leeds Federated Housing

irwellvalleyha.co.uk

k-h-t.org

Stonewater

L&H Homes landh.org.uk 0345 309 0700

NORTH EAST

Liverpool Housing Trust

Accent Group

lht.co.uk

accentgroup.org

Manningham Housing

Accent Group

0117 407 2415

0345 678 0555

Association

accentgroup.org

manninghamhousing.co.uk

0345 678 0555

Muir Group

Acis Group

muir.org.uk

acisgroup.co.uk

0300 123 1222

0800 027 2057

Places for People

Broadacres

placesforpeople.co.uk

broadacres.org.uk

01772 667 002

01609 767 900

Progress Housing Group

Crucible Homes

progressgroup.org.uk

cruciblesalesandlettings.co.uk

0333 320 4555

0114 241 3430

Regenda Homes

Equity Housing

regenda.org.uk

equityhousing.co.uk

0344 736 0066

0300 123 4460

Riverside Housing

Guinness Partnership

Association

(Northern Counties)

riverside.org.uk

guinnesspartnership.com

Sanctuary North sanctuary-housing.co.uk 0800 131 3348 Thirteen thirteengroup.co.uk

01274 771 144 Bernicia Muir Group

bernicia.com

muir.org.uk

0344 800 3800

0300 111 1000

0300 123 1222 Castles and Coasts Places for People

castlesandcoasts.co.uk

placesforpeople.co.uk

0800 085 1171

01772 667 002 Erimus Housing Ltd Together Housing

erimushousing.co.uk

togetherhousing.co.uk

0300 111 1000

0845 077 0027 Guinness Partnership Sanctuary North

(Northern Counties)

sanctuary-housing.co.uk

guinnesspartnership.com

0800 131 3348

0303 123 1890

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20 QUESTIONS Tony is a sales and marketing professional with more than 15 years' property experience. He worked for Barratt Homes before moving into the affordable homes market working for regional and national housing associations. He was a Sales and Marketing Director for over five years, running the sales and marketing function including market analysis and research, quality management, aftercare and customer service plus leasehold services. He now has his own business, Tony Harker Consultancy Ltd.

20 QUESTIONS th Wi

TONY HARKER

What is your favourite room at home?

My kitchen – over the last few years I have totally renovated my home; at one point two sides of the property were held up by acroprops. My kitchen tripled in size, giving me a large kitchen/diner. A well-designed kitchen always improves the sale of a house What’s your favourite gadget or technology at home?

Technology isn’t my strong point, as anyone who knows me will tell you! I have an app on my phone to control the heating and to see who is at the door when I am away travelling, which is frequently!

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

A rich dark colour – deep red, green or brown. I like white walls with accent colours, but I’ve recently become more adventurous – I have a dark chocolate wall in my kitchen and I love it.

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

Only three – that’s impossible! I would include Holly Willoughby and Phil Schofield for entertainment – they have my sense of humour, and Gino D’Acampo for entertainment and food. Paul O’Grady, because he is so nice and I love all he does for charity, and Steve Brown, former GB Wheelchair Rugby Captain and presenter, who is the most inspirational person I have met in a long time.

What’s your favourite memory from your childhood home?

It has to be the large open fire – after being out on the farm or in the countryside there is nothing better on a winter’s day.

What interior trend do you hate? Minimalist retro – I like a home to feel cosy and warm and that trend doesn’t feel homely enough.

Would you rather have a garden or a balcony?

A garden – I was brought up in the North Yorkshire countryside and love nothing better than getting out into the garden.

114

Do you prefer modern homes or period properties?

A mixture – I live in a 1930s property, but when I extended, my architect cleverly mixed the modern and old together so I have an energy-efficient home with some character features.

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

Neither – it’s more important that you have rooms of a good size that are adaptable.

Would you prefer a luxurious bathtub or a sumptuous shower?

I’m lucky enough to have both, but for me a really good quality shower is a must Would you rather live in the bustling city or in the country?

A mix of both worlds – I live in the suburbs of London which is perfect for me. I can have everything that the city offers when I want it but equally I am near enough to the countryside to escape.

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

I have a place in Spain, which is easy to get to, even for a weekend.

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

I have always bought property slightly outside the current market demand area but always near transport links, good education and large employers nearby – it’s never let me down so far.

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

The internet – in today’s society it’s a must for virtually everyone.

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

Get out into the garden or go to the gym.

What’s your favourite thing about your house?

I love my floors, which are reclaimed oak floorboards from a school in the Yorkshire Dales where I lived as a child. I love the history in those scratches, not to mention the recycling of good quality wood.

Where did you buy your first home?

I bought my first home when I was 21 – it was a two bedroom mews house in Ripon, North Yorkshire. I got it at a good price as no one could see the potential. It was in need of redecoration, new carpets, paint and a good clean. It proved to be a great investment.

What advice would you give a first time buyer?

Research the area carefully. Also ensure you do not put all your savings into buying the property – furniture, carpets, curtains and day-to-day household items soon add up and the worst thing you can do is end up with a lot of loans and credit card debt.

What are your views on shared ownership?

Shared ownership is a great product. Properties are sold based on RICS valuation and usually a smaller deposit is needed. The industry needs to promote its advantages better.

What are views on the property market?

Many people in the UK want to own a property – many see it as an investment, and generally it is, but like the stock market and currency exchange rates – prices rise and fall. You have to be wise, and buying and selling is relative. When there is a downturn in the market, it may mean you lose out or make less on your property, but then you could buy more shares in a shared ownership property or buy a bigger property than you previously would have been able to.

When the market is strong you could sell and make more money.

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