If you were to believe the doom-mongers, one would scarcely believe it was possible to buy a first home in London or its surrounding areas. According to the naysayers, without being bankrolled by a flush mum and dad, a generation of would-be first-time buyers is destined to remain in renting limbo forever.
Thankfully, the reality is much more encouraging, with hundreds of properties available to buy with just a 5 per cent deposit in and around London.
Help to Buy is ending soon
With the help of the Government-backed Help to Buy scheme, first-time buyers can get on the property ladder at more than 12 residential Bellway London new-build developments, spanning city locations and stretching out into Sussex and Essex.
Launched in 2013, Help to Buy has helped more than 345,000 people take those first important steps on the property ladder – steps that might have been impossible for many without the scheme.
Help to Buy allows customers to purchase a new-build home with just a 5 per cent deposit, and with an additional 40 per cent in London (or 20 per cent outside of London) as a five-year interest-free loan from the Government. This means first-time buyers only need a mortgage of either 55 per cent or 75 per cent, improving affordability and access to more favourable interest rates.
However, with the scheme due to end on 31 March 2023, buyers may wish to start the search now, since the property would need to be built by 31 Dec 2022 to be eligible for Help to Buy.
Wide range of choice with Bellway London
You’ll find an extensive choice of high-spec Bellway London properties available across the capital – including Sydenham’s Maybrey Works, Beckton Parkside, Eastside Quarter in Bexleyheath and Dartford’s Copperhouse Green – and the South East that can be purchased with Help to Buy.
There’s a location to suit everyone – from developments in north London (such as The Foundry in Hemel Hempstead and Waterside at Riverwell) down to Kent (such as Kingfisher Green in Rainham).
Hemel Hempstead’s 110-apartment development The Foundry, for example, is notable for its Workhub for residents. It’s the first of its kind for any Bellway London property in the UK – which is excellent news for any professional whose job involves working from home.
Meanwhile, Bellway London has 143 high-spec 1-3 bedroom apartments at Waterside at Riverwell in commuter hotspot Watford. The development is within walking distance of two train stations for travel to central London and close to relaxing green spaces.
In the immediate vicinity of the capital, Bellway London also has numerous sites across Sussex (including Seaford Grange) and Essex (including Novello in Chelmsford).
Bellway London homes are ideal for first-time buyers. They offer modern design and fit-out, with integrated appliances and a range of communal facilities such as gyms, a concierge and even roof terraces or podium gardens for enjoying the best of the weather. Each Bellway London home comes with a two-year warranty to give peace of mind to buyers.
Bellway London has been independently awarded a top rating of five stars by the Home Builders Federation –which means more than nine out of 10 buyers would recommend Bellway London to a friend.
It’s not too late to visit these developments – or any of Bellway London’s other locations across the capital – and advisors will be on hand to answer any questions you might have about the Help to Buy scheme.
With interest in the scheme bound to build as the deadline approaches, Bellway London is encouraging interested parties to register interest now.
Go to Bellway London to find out more about the developments