homefocusJULY/AUGUST2015
McLEANATVNPrDesenRteEr A LOOKING
TO BUY
gives her views on design, YOUR
buying a first home and HOOMWEN?
affordable housing
‘Now I’m paying less Shared
for a brand new home Ownership
with an extra bedroom’
and
says Carla Help to Buy
REASONS
TO BUY
NOT RENT
MADE MORE
AFFORDABLE
WWININ
A LEATHER SOFA FROM
FURNITURE CHOICE
ATTRACTIVE, ACCESSIBLE, AFFORDABLE HOMES
DO YOU WANT TO PAY LESS
FOR YOUR ENERGY
With energy bills on the rise, call us free on 0800 0014 706 or
visit www.myhomeenergyswitch.org.uk today to find the best
price for your gas and electricity.
It’s free, fast and simple to switch and we’ll take care of all
the paperwork.
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Publisher’sComment
homefocus HOME
ISSN No 1470-0360 OWNERSHIP
FOR ALL?
ADVISORY PANEL
Maddie Cross LONDON BOROUGH OF BEXLEY This issue of homefocus has quite a number of references to
‘the circus’…why? Well, just like the circus, home ownership is
Dave Evans BE CREATIVE LONDON intended for everyone. First time buyers, couples and families
Tony Harker GENESIS HOMES from all walks of life.
Dave Lakin GRAND UNION HOUSING GROUP But new data from the Generation Rent Report has found home
Trevor Morley DIRECTION LAW ownership is becoming elitist! The proportion of potential first time
buyers saving for a deposit has dropped 6% compared to three
Yvette Ruggins SOUTH PARK ASSOCIATES years ago with many now given up on their dreams of becoming a
Isabel Saville CONCORDIA HOUSING CONSULTANCY home owner..
Simon Scott ORIGIN HOUSING That’s where shared ownership and Help to Buy come in! They
Sharon Shaw MARTIN SHAW CONSULTING are Government sponsored schemes helping bring opportunities
within the reach of those buyers on more modest incomes.
Richard Stone CENSEO LTD
Helen Towner HOMES AND COMMUNITIES AGENCY At the risk of belabouring the comparison, the circus big top has
Greg Warner-Harris SPECTRUM HOUSING GROUP a safety net. With shared ownership, there’s a safety net too; a
financial interview to make sure that buyers buy as much as they
Chris Winfield LONDON BOROUGH OF BRENT can afford but no more!
EDITOR In fact there are rules, regulations and good practises to cover
Alex Randell many aspects of buying through shared ownership and Help to
e-mail: [email protected] Buy. Some people find them a bit off-putting. But just like the circus
safety net, they are there to prevent damaging accidents. Right
SUBSCRIPTIONS & GENERAL ENQUIRIES throughout this issue of the magazine, you’ll find examples of
Julie Baugh Tel: 0203 096 7141 those who successfully ‘walked the tightrope’ to home ownership.
e-mail: [email protected] I hope you’ll take inspiration from them and find your way to a
home of your own.
PUBLISHER
Jeffrey Gritzman Tel: 0203 096 7141 Happy home hunting
e-mail: [email protected]
PUBLISHED BY
Graid Publications Ltd, 1 Kings Hall
12b Kings Road, Westcliff SS0 8LR
Tel 0203 096 7141
DESIGN & PRODUCTION
John Eldridge Design Associates
Website: www.homefocus.co.uk
www.facebook.com/homefocus
www.twitter.com/homefocus
•Jeffrey Gritzman Publisher
Supports the aims of homefocus
homefocus • JULY/AUGUST 2015 3
ContentsJULY/AUGUST2015 34
13
26
Buying Guide Hot properties Celebrity Status
6 Destination home 12 London 34 In Conversation
ownership
A selection of affordable homes in the with TV presenter Andrea McLean
Say goodbye to the rental circus Capital who says ‘home ownership ‘is a
choice that everyone should be
8 Home ownership 16 East & south-east able to take part in’
Not just for high flyers And some in the east & south east Where next?
region - as defined by the Homes &
10 Stop clowning Communities Agency Homefinder Directories
around
20 South Or search affordable homes at
Compare the cost www.homefocus.co.uk/Low-cost-
of renting and buying Affordable properties in the south homes-near-you
42 Finding your place on the 24 Midlands 54 Introduction
ladder 55 Shows and Events
And some in the midlands 56 Property Listings
Shared ownership and Help to 60 East and South East
Buy bring buying opportunities to 28 South west 61 South West
different all kinds of people 62 London
Finally, find affordable homes in the 64 Midlands
46 Time to buy south west corner of the country 65 South
66 Legal Directory
When the developers and local Just for you
authority invest in an area, it may well
mean…time to buy! 3 Publisher’s comment
Home ownership for all?
THE SMARTER WAY TO HOME OWNERSHIP
Shared ownership is a cost effective way of getting your own property. You buy a 25%-75% share,
with a mortgage and deposit, and then pay rent on the remainder. It’s often cheaper than renting
the same property, with the bonus of owning part of it.
Genesis offers a wide range of homes available for shared ownership across London and Eastern England.
Not only are those properties affordable, they’re designed to a high standard. Call us today to find out just
how easy and affordable your next move could be.
*Starting prices are for a 25% share of the property. Eligibility requirements apply, please call us for more information. Details correct at time of going to press. Images representative only
homefocus
52
38 14 WIN
Lifestyle Great Advice Competition
38 Naturally neutral 32 Never mind the b****cks 52 Competition
Neutral colours can add a sense of Shattering a few shared ownership Win a Leather Sofa from Furniture
calm to any room myths and misconceptions Choice
44 Super Stripes 36 Juggling finances 25
Bring bold colours into your home, … Some examples of what sort of property
with stripes your income will get you under shared
ownership and the Help to Buy schemes
44
40 Money, Money, Money
Get yourself ready to get the best
possible mortgage
48 Moving Checklist
Who to tell you’re on your way
50 Ask the Experts Contact us...
How to sell your share when you’re E-MAIL:
ready to move on [email protected]
PHONE: 0845 474 4734
MAIL: homefocus magazine
1 Kings Hall, 12B Kings Rd
Westcliff SS0 8LR
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YOTIUMRE TTORPUANCKK?
Say goodbye to the rental circus!
F ed up watching the high flyers in The Ringmaster
their mansions. Or paying rent to
clowns so that you finish up paying The majority of LCHO schemes are backed by the government
their mortgage instead of your own? so the help you receive will be there for the long-run. It’s
Wondering why you have to do financial unlike renting privately, where your landlord could end your
acrobatics each month when you have tenancy even if you’ve paid your bills on the dot.
nothing to show for it?
The Ringmaster for the LCHO process is a Help to Buy
You might still be living at home, or Agent. These are organisations appointed by the government
perhaps you’re already renting, maybe
recently left a relationship without enough to promote and co-ordinate LCHO in a particular area,
equity to buy another place. Wouldn’t it be and there’s a list of them of page 54. Outside
great if you owned a home of your own? of London your Help to Buy Agent will
process your application so you don’t
Well, it could be possible and here is something need to apply to every housing
that will help you pack your trunk but avoid the association, and they have a list of
rental circus. every government-funded LCHO
home in their area. In London,
There are schemes that allow you to buy just a things are slightly different, but
percentage of your home, and still move in. Collectively, there’s still a LCHO online portal
these schemes are called low cost home ownership to get you started. Wherever you
(LCHO) and they’re designed to be affordable, which means are, Help to Buy Agents will help run
you not only do you get to live in ‘The Big Top’, but you’ll the show.
have something left over, to buy candy floss and ice cream at
the interval! Three ringed circus
No need to move around There are three LCHO ways to
get onto the homeownership
If you’re ready to stop moving around and be part of ladder and the scheme to go
the community by buying your own home, LCHO is a for depends on your personal
great idea. You’ll need a smaller mortgage and a smaller circumstances. There’s no
deposit than you probably expect. In many cases, it works guarantee that all options will be
out cheaper than renting a similar property privately. available to you,but where there
Once you’ve found your own place through LCHO, it’s is a choice, your financial situation
flexible enough to change with you when your circumstances will dictate what’s offered. There are
alter. You can buy more of your home – in shared ownership more details of the specific schemes on the
this is called staircasing, and in most cases you can staircase next two pages, but essentially they are:
until you own 100%. For equity loan schemes, you can pay
off some or all of the equity loan. And when you come to sell, Shared ownership
there should be a ready-made list of people who are hoping
to buy through LCHO in your area. People who are in the Also known as part buy/part rent. This works by allowing
same position you’re in now - keen to become home owners you to buy a share of your home and pay a subsidised,
for the first time. capped rent on the remainder, which is owned by a housing
association. You’ll be expected to buy the largest share you
6 homefocus • JULY/AUGUST 2015
Buyer’sGuide
can afford –but don’t worry, the key word there is ‘afford’, so • You own your own home but it’s far too small for your needs.
you’ll be able to discuss what share is right for you. For example, you might have two children in a one-bedroom
flat and can’t afford to buy somewhere bigger
Equity loans • You can’t otherwise afford to buy a suitable home in the area
you need to live in
You own 100% of your home, but only have to cover a • You’re working even though it’s not full time (you’ll have
percentage of the cost initially with your mortgage and to show that you earn enough to cover your housing and
deposit. You can defer the rest for a while as it’s covered by an living costs though. And you might be able to count long-term
equity loan. There’s nothing to pay on the equity loan for a few benefits towards your income)
years, and the scheme you choose will determine whether you • You’ve got a large chunk of money to put down (for example
pay any interest after this and when you have to pay the loan if you have equity from a previous home after a relationship
back. split and use that towards buying your share outright. Again,
you’ll have to show you have enough coming in to cover your
Save to buy housing and living costs).
There are two options offered by housing associations that You’re NOT eligible for shared ownership if...
will help and encourage you to save towards a deposit for a
home. Rent to buy will allow you to pay a reduced rent on • You already own a home that you’re living in and it’s
the understanding that you will buy that specific home in due adequate for your needs
course and intermediate market rent will provide you with a • You can already afford to buy a suitable home of your own in
reduced rent to save for a deposit to buy elsewhere. your area
The oohs and aahs You’re NOT eligible for any affordable home
ownership scheme if...
You may have already heard of LCHO but thought ‘it’s
just for people with specific jobs or it’s social housing by a • You want to buy a property to rent out. LCHO funding is
different name.’ Well, you couldn’t be more wrong! It’s home there to help people to buy a home, not to become a landlord
ownership, and you’ll take on all the responsibilities, and • You already own a home and now want to help your adult
have all the benefits, that go with it. LCHO is designed for a child or children to get on the ladder. You can help them with
whole range of people who’ve been otherwise priced out of the their deposit BUT it’s your children who would have to apply
market. and be eligible.
• CCJ’s or a bad credit rating make it unlikely that you can pass
The first time buyer schemes such as shared ownership and financial assessments
resales are appropriate for anyone with a household income
LESS than £60,000 (£71,000 if you’re looking for one or two
bedrooms in London and £85,000 for three bedrooms or more).
And for Help to Buy, the criteria is even wider.
You COULD be eligible for the schemes if…
• You’re a first time buyer
• You’ve owned a home in the past but don’t own one now
• You need to buy a home of your own for the first time, for
example after a relationship breakdown
homefocus • JULY/AUGUST 2015 7
NHOOMTEJUOSWTNFEORRSHHIPIG: H
There are a number of ways
to become a homeowner!
This page gives you an at-a-
glance reference to all the
low cost home ownership
(LCHO) schemes on offer, so
if you find a home you like,
you can check out the key
points of the scheme.
Scheme type New Build Shared ownership Help
Scheme name
Resales Help to Buy Equity Loan
YOU CAN FLY HIGH You buy the share of your home you These are properties that have Available on newly built properties up
TOO can afford (between 25% and 75%) already been bought through shared to a value of £600,000. You buy 100%
SURE-FOOTED and pay a subsidised rent on the ownership in the past, and where the of your home but only have to pay
SAFETY NET remainder. You can buy more shares owners are now looking to sell their for 80% initially. The rest is covered
over time until in most cases you own share and move on. You buy the share by an equity loan from the
100% of your home. You may see they are selling and pay a subsidised government. There’s nothing to pay on
shared ownership referred to as part rent on the remainder. You might see the equity loan for the first five years,
buy/part rent. resales referred to as ‘existing shared after which there’s a small interest
ownership’. charge.
Ideal if you live in an area where prices
are high as you only need to buy the Not limited to recently-built homes Great if you can almost afford your
percentage you can afford (just as long so properties are likely to be in home but don’t have a thumping great
as it’s over 25%). This means you need established communities and you may deposit to start you off. You only have
a smaller mortgage. It’s also perfect have a wider choice of styles. The rent to find a 5% deposit. Not restricted
if you don’t have much in the way of element is almost always lower than on to first time buyers, and doesn’t have
savings as you only need to find the new build because of controls on the the same income restrictions as
deposit for the share you’re buying. amount the rent has been allowed to shared ownership, so you can use the
increase each year. scheme to move to a larger home or
As with the most of the schemes on one in a more expensive area.
these pages, the properties are all You’re unlikely to be able to buy
new-builds, which might not be to a smaller share than the previous You still have to be able to afford 80%
your taste. If you’re looking for period owners are selling, though it may be of your home with your mortgage
features, though, you might find a possible to buy more. And you’re and deposit, so if you live in a very
shared ownership home that’s a buying someone else’s taste in décor – expensive area house prices could still
conversion of an older building. though it’s fun to change it! be out of reach.
BUY FROM JUST 25% WIDE CHOICE NOT JUST FOR FIRST
WITH A SMALL DEPOSIT TIME BUYERS
WANT MORE INFORMATION? Email: [email protected]
8 homefocus • JULY/AUGUST 2015
Buyer’sGuide
FLYERS
Finding the right LCHO scheme can be a bit daunting, so focus on this question...
What percentage of the home you need do you think you could
buy with your deposit and mortgage?
Between 25% and 75%
Shared ownership could be right for you
Around 70% or more
Consider Help to Buy or an equity loan
100%, but I can only afford a 5% deposit
Check out the mortgage guarantee schemes
I haven’t got enough for a deposit yet
Time to start saving! Or take a look around for a try before you buy option
to Buy Save to Buy
Help to Buy Mortgage Rent to Buy Intermediate Market
Guarantee Rent
Designed to make 95% mortgages This is available on selected new Offers you the chance to rent a brand-
available to a wide range of people. developments and gives you the new or refurbished home or a home
More importantly it means that you opportunity to rent the home you that is being re-let for a reduced rent.
only need to raise a 5% deposit. These wish to buy at a reduced rate, on the The rent charged is usually around
mortgages will be available on new understanding that you’ll buy it through 80% of the rent that you would expect
and older properties costing up to shared ownership within a specific to pay if you were renting from a private
£600,000. time. In London there’s a similar landlord
scheme called Rent to Save, ideal if
you want to buy a home in the city.
It’s perfect if you can afford a mortgage Perfect if you can demonstrate that Great if you’re looking to rent for the
for 95% of your home, but don’t have you could afford to buy 25% of your short term whilst building a deposit to
a large deposit. And as it’s available home, but are not in a position to do buy your first home.
on existing properties as well as new so straight away – for example you
ones, you can still benefit even if earn enough for a mortgage but don’t
you want to live in an older home or have a deposit saved. It gives you a
somewhere that’s seen no new homes chance to put down roots and move
for a while. into your new home sooner.
You still have to be able to get a There are very few Rent to Buy This is a shorthold tenancy agreement
mortgage for 95% of your home, so properties available, and no more are only, initially covering just 6 months,
might not be right for you if you want planned outside London. You have to after which the agreement can be
to live in an expensive area. be disciplined to use the discount on extended.
your rent to save for your deposit.
FOR HIGHER WAGE SAVE TO BUY THE NEW TYPICALLY 20% LESS
EARNERS HOMEYOU’RE LIVING IN THAN MARKET RENT
homefocus • JULY/AUGUST 2015 9
TCAIMRLE TOOO SWUTONPNDIN? G
Getting your first place can be a hoot. Bed-sit, flat share,
singles flat, private rent. All great fun. But if you want to avoid
a ‘financial pie in your face’, take a serious look at the cost of
renting compared to buying!
For some of us, renting is absolutely the right ‘It’s nice to be on the property
thing to do. It gives freedom and flexibility. ladder having been forced to
But if you’re serious about putting down roots rent for so many years’
and being part of the community, there’s nothing
like owning your own home. It’s not just that you
can decorate it as you want and have the security
of knowing that you’re in control. You might find
that buying through low cost home ownership
(LCHO) could mean paying out less each month
than if you rent. And who’ll be laughing then?
The figures on the next page show some
typical comparisons from around the country.
And in some of them, buying a minimum
share works out less than renting a comparable
property. It all depends on you being able to
come up with that all important deposit. But
before you tell yourself how much of an obstacle
putting together a deposit can be, take a look
at the deposits required for LCHO. Just 5% of
the full amount for Help to Buy deals and only
5% of the share you’re buying under shared
ownership. So buying may be more viable than
you think.
With LCHO, you’ll also be able to afford
a reasonable lifestyle too. The affordability
checks that housing associations insist on
before offering you LCHO mean that rather
than paying every penny you earn just to keep
a roof over your head, you’ll be able to get by
comfortably.
So, if being a homeowner is what you really
want, but you think that renting is a sensible
stop-gap, just check and work through all of the
figures first.
10 homefocus • JULY/AUGUST 2015
RentvBuy
Check the figures in your area…
We’ve done a bit of checking around, and compared the price to rent a
typical two-bedroom property with the cost of buying outright with a 95%
mortgage, buying different shares through shared ownership, and buying
through the 80% Help to Buy equity loan scheme. So do the sums and see if
it’s time to stop clowning around.
Chichester £288,000 Mortgage Mortgage Rent pcm Total monthly
pcm costs
Deposit £68,400 £400 £495 £895
£136,800 £800 £330 £1,130
Shared Ownership 25% share £3,600 £216,000 £1,263 £0 £1,263*
Shared Ownership 50% share £7,200 £273,600 £1,599 £0 £1,599
Help to Buy 80% equity loan) £14,400 - - £844 £844
Help to Buy Mortgage Guarantee £14,400
Renting Privately -
Architect Clementine Griggs, 30, was Tooting £506,000 Deposit Mortgage Mortgage Rent pcm Total monthly
desperate to get on the property ladder in pcm costs
her home city of Chichester but didn’t think 25% share £6,325 £120,175 £703 £870 £1,573
it was possible, until she discovered Affinity 50% share £1,2650 £240,350 £1,405 £580 £1,985
Sutton’s shared ownership apartments 80% Help to Buy equity loan £25,300 £379,500 £2,219 £0 £2,219*
at Graylingwell Park; a development 100% buy £25,300 £480,700 £2,810 £0 £2,810
that combines new-build and renovated Private rent - - - £1,736 £1,736
properties set in parkland.
Plymouth £132,000 Deposit Mortgage Mortgage Rent pcm Total monthly
Clementine had originally looked at pcm costs
two-bedroom apartments with the intention 25% share £1,650 £31,350 £183 £227 £410
of buying with someone else, but it didn’t 50% share £3,300 £62,700 £367 £151 £518
happen. A while later she worked out that 80% Help to Buy equity loan £6,600 £99,000 £579 £0 £579*
on her own, she could afford to buy a share 100% buy £6,600 £125,400 £733 £0 £733
of a refurbished, one-bedroom apartment Private rent - - - £569 £569
in a renovated section of the development’s
original building. Birmingham City Centre £208,000
‘I loved the apartment from the moment Deposit Mortgage Mortgage Rent pcm Total monthly
I saw it,’ says Clementine, ‘It’s a period pcm costs
property so it looks very pretty, but inside 25% share £2,600 £49,400 £289 £358 £647
it is equipped with high quality modern 50% share £5,200 £98,800 £578 £238 £816
fittings and has a great open plan living 80% Help to Buy equity loan £10,400 £156,000 £912 £0 £912*
place.’ 100% buy £10,400 £197,600 £1,155 £0 £1,155
Private rent £977 £977
Through shared ownership, Clementine - - -
purchased a 35 per cent share of her
new home for £60,375 (full market value Bushey £443,000 Deposit Mortgage Mortgage Rent pcm Total monthly
£172,500). She currently pays £700 a month pcm costs
to cover her mortgage repayments and rent 25% share £5,537 £105,213 £615 £761 £1,376
on Affinity Sutton’s share of the apartment. 50% share £11,075 £210,425 £1,230 £507 £1,737
It’s far less than she was paying while 80% equity loan (Help to Buy) £22,150 £332,250 £1,942 £0 £1,942*
renting. ‘It’s so nice to finally be on the 100% buy £22,150 £420,850 £2,460 £0 £2,460
property ladder having been forced to rent Private rent £1,302 £1,302
for so many years,’ said Clementine. - - -
The small print
We’ve used an average repayment mortgage over 25 years at 5% to get our figures. Deposit amounts are 5% which reflects
what is available in the market at the moment. Please note that Help to Buy Guarantee Mortgages are NOT available in
conjunction with LCHO schemes. But we have used 5% deposits for 100% purchases assuming that the mortgage will be
attained using a Help to Buy Mortgage Guarantee. Rent for shared ownership is based on 2.75% of the share you don’t own,
per year (we then divide this by 12 to get a monthly rate). Private rents and property prices are based on averages in the area,
taken from popular property websites not specific properties.
* Please note that with a Help to Buy equity loan, you will be paying back some interest from year 6 onwards.
homefocus • JULY/AUGUST 2015 11
London
Starting to think that you can buy your own home? Could buying in the Capital be more cost
effective than renting or commuting? Then take a look at this selection of low cost home ownership
(LCHO) homes.There are more listed on pages 57 & 58 and helpful contacts on our London
homefinder, pages 62 & 63. Or visit www.homefocus.co.uk/Low-cost-homes-near-you.
WATERMILL LANE
Edmonton, prices and shares tbc
A major new development, Watermill hallways and kitchens; with carpets to Valley Park and Pymmes Park.
Lane, is being launched adjacent to the all bedrooms. Kitchens are by Moores First option will go to applicants
North Middlesex Hospital. And Newlon from the Maida range and feature Bosch
Home Ownership is offering 28 one and integrated appliances including fridge who live within the London Borough of
two-bedroom apartments and 2 three- freezer, washing machine, dishwasher and Enfield.
bedroom houses for shared ownership. a Zanussi hob and oven.
www.homefocus.co.uk/Watermill-Lane
Each home has high quality finishes, Satellite/terrestrial TV points and a
smart layouts with open-plan living areas secure door entry system are installed and
and large windows and all have been Watermill Lane has some on-site parking.
carefully designed to produce modern,
energy efficient homes. All the apartments The area is well served by bus routes,
benefit from a balcony or winter garden with Silver Street Overground Station
a short distance away. Nearby are new
Incorporated into every home are and refurbished shopping centres, local
wood laminate flooring to living areas, amenities and attractive green space at Lee
Want to know more? Then email [email protected] with the name of the development that interests you in the subject line and don’t
forget to include your contact details. Or you can visit www.homefocus.co.uk.
* Approximate figures only, assuming a 25 year mortgage at 5.0%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
12 homefocus • JULY/AUGUST 2015
London Properties
L&Q@GREENWICH PENINSULA
Greenwich, prices and shares tbc
If jumps in house prices are anything to go by, then Greenwich is one
of London’s most happening areas at the moment. And making it more
affordable for those who would like to own their own home there, is L&Q’s
mix of one and two-bedroom shared ownership apartments on the Greenwich
Peninsula.
This is the first phase of L&Q’s development, a second phase is due later in
the year with 34 apartments available across the two phases.
Dubbed ‘London’s ultimate village’, Greenwich Peninsula will transform
190 acres of marshland to deliver 10,000 new homes, 150 retail units and 48
acres of open green space, all set along 1.6 miles of prime Thames waterfront.
Interested? Email [email protected] with “Greenwich Peninsula” in the
subject. Remember to include your contact details. Or visit www.homefocus.co.uk/
Greenwich-Peninsula
ELIZABETH WHARF
Repton St E14 from £92,500 for 25%
Elizabeth Wharf is a car free a secure two-stage, dedicated entrance. Interested? Email [email protected] with
development available via shared The development is on the edge of
ownership from Currells. “Elizabeth Wharf” in the subject. Remember to include
traditional residential streets and green your contact details.
This is a new residential open spaces, including Whitehorse Road Or visit www.homefocus.co.uk/Elizabeth-Wharf
development in up-and-coming Park –next to 10th century St. Dunstans
area, right by the amenities of Mile – and Stepney Green Park, with its ever-
End Park and the Regent’s Canal. popular City Farm.
An elegant footbridge carries you
over from Salmon Lane to bustling First option will be given to those
Limehouse and leafy Mile End Park. currently living or working in Tower
And Riverside promenades along the Hamlets.
Thames are a short walk away.
One-bedroom apartment: Full value: £370,000
On offer are sixteen one, two and Minimum share: 25% • Cost of share: £92,500
three-bedroom apartments set in a 5% deposit: £4,625 • Mortgage on share*: £514
contemporary six storey building with Rent on remaining share**: £636
Total costs: £1,150
JESSOPS BUILDING
New Providence Wharf from £93,688 for 25%
Currently available on a shared appliances including dishwasher and Interested? Email [email protected] with
ownership basis from Genesis, is washing machine, granite worktops and
Jessops Building in New Providence chrome finishes. Bedrooms are spacious, “Jessops Building” in the subject. Remember to include
Wharf where a selection of one and all rooms enjoy full height windows your contact details.
and two-bedroom apartments has for plenty of natural light, balconies. Or visit www.homefocus.co.uk/Jessops-Building
been designed to a contemporary
specification. A hub of activity, New Providence
Wharf is becoming a destination in its
The homes are spacious, own right.
accompanied by balconies to most
apartments, perfect for al fresco dining One-bedroom apartment: Full value: £374,750
through the summer. Kitchens feature Minimum share: 25% • Cost of share: £93,688
fitted units offering integrated Bosch 5% deposit: £4,685 • Mortgage on share*: £520
Rent on remaining share**: £644 • Total costs: £1,164
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 13
Carla Rosser
Previous situation: Renting
Scheme: Shared ownership ‘I’m paying less for a brand new home with an
extra bedroom, and I own a large share of it’
Location: Tooting
Provider: Thames Valley Housing
Carla Rosser, 31, faced a common Blood and Transplant service at St paying less for a brand new home with an
dilemma. She was desperate to escape George’s Hospital, so moving further out extra bedroom, and I own a large share
spiralling rent, but wanted to live close would have made life difficult’ of it too’.
to her work and couldn’t afford the high
property prices The full price of Carla’s two-bedroom Carla also benefits from a new Thames
apartment, with off-street parking, was Valley initiative – Shared Ownership
Carla’s answer was to buy through £380,000. She put down a £55,000 deposit PLUS which allows Carla to buy an extra
shared ownership and she purchased a and her 45% share cost £171,000. Her 1% of her property each year over the
two-bedroom at XV11, Thames Valley monthly outgoings are £1,101, made next 15 years, potentially increasing her
Housing’s development in Tooting. Carla up of a £492 mortgage, £478 rent on ownership to 60%. The cost of the extra
says ‘I’d been renting a one-bedroom the share she doesn’t own and service share payments are predetermined so can
apartment in Streatham Hill but rising charges of £130. be included in Carla’s budget and she can
rent was pricing me out of the area. I’m buy her home gradually at a pace she can
often on call with my work for the NHS ‘The rent for my one-bedroom flat was afford.
£1,183 each month, says Carla, ‘now I’m
Will this story inspire you to become a homeowner? See the list of low cost home ownership (LCHO) properties on
pages 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-near-you. Or you could call 0845 474 4734
14 homefocus • JULY/AUGUST 2015
London Properties
THE VILLAGE E17
Walthamstow, from £96,250 for 35%
(provisional price & share only)
Metropolitan Home Ownership is A good bus service runs to One-bedroom apartment: Full value: £275,000
offering shared ownership at its new Walthamstow Central and the tube and Minimum share: 35% • Cost of share: £96,250
development in Shernhall Street, the overground station takes just over 15 5% deposit: £4,813 • Mortgage on share*: £535
set between highly fashionable minutes to Liverpool Street. Rent on remaining share**: £556 • Total costs: £1,091
Walthamstow Village and the tube
station. The Village is close to nurseries, Interested? Email [email protected] with
primary and secondary schools and
Designed as two low level blocks colleges. There’s a health care centre just “The Village” in the subject. Remember to include your
to fit in comfortably with their across the road from the development contact details.
surroundings, the shared ownership and whilst we hope you never need to Or visit www.homefocus.co.uk/The-Village
block will cover three floors and use it, Whipps Cross Hospital in close by.
provide 6 one-bedroom apartments,
10 two-bedroom and 5 three-bedroom First opportunities will be offered first,
apartments. to those people already living or working
in Waltham Forest.
SAFFRON COURT
E1 from £118,531 for 25%
Saffron Court is a new residential Saffron Court is located on Pedley
development in the heart of Street, close to Shoreditch station. A
Spitalfields, close to the vibrant hub footbridge carries you over to bustling
of Shoreditch. And Currell is offering Cheshire Street and Brick Lane. The green
a range of one and two bedroom spaces of Allen Gardens and Weavers
apartments in this modern, six storey Fields are a short walk away.
building with dedicated entrance,
private amenity space, landscaped One-bedroom apartment: Full value: £474,124
area, cycle parking and two children’s Minimum share: 25% • Cost of share: £118,531
play areas. 5% deposit: £5,927 • Mortgage on share*: £658
Rent on remaining share**: £815 • Total costs: £1,473
All the apartments include a stylish
interior specification, with some Interested? Email [email protected]
offering private balconies and patio
areas. The development also provides a with “Saffron Court” in the subject. Remember to
car club scheme for residents. include your contact details.
Or visit www.homefocus.co.uk/Saffron-Court
VISION
Grahame Park, Collindale from £188,000 for 80%
A new phase of one, two and three- White bathrooms with chrome
bedroom Help to Buy homes has fittings are complemented by floor
been released by Genesis at Vision, tiling and a heated towel rail.
part of the ongoing Grahame Park
development in Collindale. One-bedroom apartment: Full value: £235,000
Minimum equity: 80% • Cost of equity: £188,000
The homes are finished to an 5% deposit: £11,750
exacting standard with sleek, modern Mortgage on 80% equity*: £1,030
kitchens featuring granite worktops. Total costs: £1,030
Stainless steel appliances, including
oven and microwave, and integrated Interested? Email enquiries@homefocus.
white goods, combine style with
practicality. co.uk with “Vision” in the subject. Remember to
include your contact details.
Or visit www.homefocus.co.uk/Vision
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 15
East & South East
Starting to think that you can buy your own home? Could buying in the east and south east be more cost effective
than renting or commuting? Then take a look at this selection of low cost home ownership (LCHO) homes.There
are more listed on pages 56 & 57 and East & South East homefinder on pages 60 & 61. Or visit www.homefocus.
co.uk/Low-cost-homes-near-you.
ST ANDREWS PARK
Halling from £73,750 for 25%
Homes for singletons, couples and St Andrews Park is close to the historic London, while the nearby A228 gives swift
families are on offer through shared Medway towns and is surrounded by access to the M2 and M20.
ownership at Heart of Medway’s St countryside and a beautiful blue chalk
Andrews Park development in Halling. lake. Halling has its own train station, There is an infant and primary school
post office and convenience store as well within the village and the local secondary
A total of 38 homes is available and as a local farm shop and two pubs. schools are Sir Joseph Williamson’s,
range from two, three and four-bedroom Rochester Grammar School and the Robert
houses, and one and two bedroom Despite its delightful rural setting, Napier School.
apartments. All of the homes feature Halling is far from remote. Its railway
stylish fitted kitchens with integrated station provides high speed rail links to www.homefocus.co.uk/St-Andrews-Park
appliances, along with allocated parking.
Three-bedroom house: Full value: £295,000 • Minimum share: 25% • Cost of share: £73,750 • 5% deposit: £3,688
Set in the picturesque North Downs, Mortgage on share*: £410 • Rent on remaining share**: £507 • Total costs: £917
Want to know more? Then email [email protected] with the name of the development that interests you in the subject line and don’t
forget to include your contact details. Or you can visit www.homefocus.co.uk.
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year. *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
16 homefocus • JULY/AUGUST 2015
East & South East Properties
BRIDGEWATER GARDENS open-plan living/dining/kitchen area that
maximises the space.
Hoddesdon - prices and shares tbc
Thames Valley is also making available
Overlooking New River and just a short walk to Rye House Marsh their Shared Ownership PLUS scheme, a
Nature Reserve, B3 Living is offering shared ownership (via controlled and low cost way for buyers to
its agent Red Loft), on 23 one and two-bedroom apartments at increase their share each year.
Bridgewater Gardens in Hoddesdon.
One-bedroom apartment: Full value: £250,000
Each apartment has a contemporary design, with emphasis on Minimum share: 60% • Cost of share: £150,000
light and good use of space. 5% deposit: £7,500 • Mortgage on share*: £833
Rent on remaining share**: £229 • Total costs: £1,062
The development is close to Rye House Station which has a direct
service into Liverpool Street, taking commuters to the heart of the Interested? Email [email protected]
city in less than three quarters of an hour. Broxbourne is a 10 minute
drive away where, where the fast service into Liverpool Street is with “Waterloo House” in the subject. Remember to
even quicker. include your contact details.
Or visit www.homefocus.co.uk/Waterloo-House
The local area is all part of the Lee Valley Regional Park.
Interested? Email [email protected] with “Bridgewater” in the subject.
Remember to include your contact details. Or visit www.homefocus.co.uk/Bridgewater
WATERLOO HOUSE
Walton-on-Thames from £150,000 for 60%
Waterloo House is a development of one
and two-bedroom apartments just over a
mile from the centre of Walton-on-Thames,
and Thames Valley Housing is offering
them on a shared ownership basis.
An attractive four-story building,
Waterloo House is characterised by soft
red brick and cream render and set in
landscaped grounds on Mayfield Road, a
short stroll from Walton-on-Thames train
station and easy commuting to London.
Each of the apartments is highly
individual, with a choice of different
layouts and all the homes feature an
HIGHWOOD GREEN
Marden from £320,000 for 80%
Golding Homes is offering shared to the Channel ports and Paris via nearby
ownership on a range of two and three- Ashford International.
bedroom houses and two-bedroom
apartments in a Redrow built development A pre-school and primary school is within
in Marden. walking distance of Highwood Green,
together with access to Cornwallis Academy,
Named after the local World War Highweald Academy and the Maidstone
One pilot Sidney William Highwood, Grammar Schools for older children.
Highwood Green is a classic, rural setting
and offers a wonderful mix of traditional First options will be given to those
Kentish village life and modern living. applicants with a local connection to Marden.
Commuters can reach London in 55 Interested? Email [email protected]
minutes from Marden station and travellers
to further afield will find fast connections with “Highwood Green” in the subject. Remember to
include your contact details.
Or visit www.homefocus.co.uk/Highwood-Green
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year. *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 17
Graham Dudley
Previous situation: Homeowner before
relationship split
Scheme: Shared ownership
Location: Chichester Grahame Dudley wanted to get back on the
property ladder and rebuild his life
Provider: Affinity Sutton
Help to Buy Agent: Helptobuyese.org.uk
Retired graphic designer Grahame his one-bedroom refurbished apartment of Grayingwell Park very appealing;
Dudley, 67, previously lived in a at Affinity Sutton’s Grayingwell Park for ‘It’s a very beautiful development. The
three-bedroom, two-bathroom home £53,000 and just pays £378 per month in architecture and materials used in
in Iping and says, ‘As I owned that rent to Affinity Sutton on the remaining the building work have clearly been
property with my ex-wife I was unsure share. His total monthly outgoings are carefully considered and it shows,’ says
whether I would be eligible for shared considerably less than the average rental Grahame. ‘The high windows and ceilings
ownership but I was advised that this cost in Chichester or West Sussex throughout the apartment flood the rooms
was not the case’. with natural light and give every room an
Grahame is pursuing a BA degree astounding sense of space.’
Graham was able to purchase 33% of in fine arts and found the ascetic side
Will this story inspire you to become a homeowner? See the list of low cost home ownership (LCHO) properties on
pages 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-near-you.
18 homefocus • JULY/AUGUST 2015
East & South East Properties
TONGHAM COPSE
Tongham from £320,000 for 80%
Taylor Wimpey is offering Help to Buy on three and four-bedroom houses at
Tongham Copse, an attractive cul-de-sac location in a peaceful setting. All the homes
are completed to a high standard specification and are backed by a two-year Taylor
Wimpey warranty as well as the usual 10-year NHBC guarantee.
Tongham Copse is within walking distance of the village centre and its shops and
pubs, while a wider selection of shops, bars, restaurants and leisure facilities can be
found in Aldershot, a short drive away. Young families will find a choice of schools close
to home.
For commuters, the A31 is a few minutes drive away for links to Farnham and
Guildford, while Aldershot railway station offers direct services to London Waterloo.
Three-bedroom house: Full value: £400,000 • Minimum equity: 80% • Cost of equity: £320,000
5% deposit: £20,000 • Mortgage on 80% equity*: £1,754 • Total costs: £1,754**
Email [email protected] with “Tongham Copse” in the subject. Remember to include your contact details. Or visit www.homefocus.co.uk/Tongham-Copse
KINGLEY GATE
Littlehampton from £61,500 for 30%
Affinity Sutton is offering two and three-bedroom houses on a shared
ownership basis at Kingley Gate in Littlehampton. All homes enjoy a
private garden and two allocated parking spaces.
Littlehampton combines the British seaside with all the conveniences of
a modern town, including a range of shops, bars and restaurants. There’s
plenty to do on a day out as the historic Arundel Castle is nearby and
Littlehampton’s harbour, situated at the end of the River Arun, allows for
a scenic walk down the seafront.
Trains from Littlehampton station to Chichester take 23 minutes while trains to Brighton take just 43 minutes.
First opportunities to buy will be given to those living or working in Arun.
Two-bedroom house: Full value: £205,000 • Minimum share: 30% • Cost of share: £61,500 • 5% deposit: £3,075 • Mortgage on share*: £342
Rent on remaining share**: £352 • Total costs: £694
Email [email protected] with “Kingley Gate” in the subject. Remember to include your contact details. Or visit www.homefocus.co.uk/Kingley-Gate
APPLEBY GROVE
Welwyn Garden City – prices and shares tba
Hightown Homes has a small number of three-bedroom houses, two-bedroom
apartments and just one two-bedroom coach house available for shared
ownership on the east side of Welwyn Garden City. And singletons, couples or
small families that buy there will benefit from great local amenities, and a wealth
of sporting and recreational facilities.
The Campus on The Parkway provides a wide range of entertainment, and
just a short drive away is The Howard Centre, John Lewis Department Store,
two large supermarkets, restaurants, bars and pubs.
Welwyn Garden train station in The Howard Centre, provides direct train
services into Kings Cross (under 30 minutes) and Moorgate (less than an hour) and going north, services Hitchin and Stevenage.
Email [email protected] with “Appleby Grove” in the subject. Remember to include your contact details. Or visit www.homefocus.co.uk/Appleby-Grove
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 19
South
Starting to think that you can buy your own home? Could buying in the South be more cost effective
than renting or commuting? Then take a look at this selection of low cost home ownership (LCHO)
homes.There are more listed on pages 59 and helpful contacts on our South homefinder, page 65. Or
visit www.homefocus.co.uk/Low-cost-homes-near-you.
REPTON GRANGE
Brentry from £258,400 for 80%
Lovell is making Help to Buy available at area with French doors to the garden, central Bristol, as well as being close to
Repton Grange in Brentry, north Bristol, in dining room, hall and cloakroom. Moving the M5 –right by the Cribbs Causeway
a range of homes suitable for singletons, to the first floor, you’ll find the spacious retail park. The area has plenty of green
couples, families and downsizers. Right living room, family bathroom and space and outdoor attractions and is just
now, just three-bedroom houses are on bedroom three, while on the top floor is two miles from the historic village of
offer but before too long there will also be the master bedroom with en-suite and Westbury-on-Trym.
two and four-bedroom houses and a coach fitted wardrobe and the second bedroom.
house. www.homefocus.co.uk/Repton-Grange
Repton Grange is within easy reach of
The three-bedroom town houses
provide a car port and parking. On the Three-bedroom house: Full value: £323,000 • Minimum equity: 80% • Cost of equity: £258,400
ground floor is a sleek kitchen/breakfast 5% deposit: £16,150 • Mortgage on 80% equity*: £1,416 • Total costs: £1,416***
Want to know more? Then email [email protected] with the name of the development that interests you in the subject line and don’t
forget to include your contact details. Or you can visit www.homefocus.co.uk.
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
20 homefocus • JULY/AUGUST 2015
South Properties
OAK COURT
Bristol from £415,996 for 80%
The last family, five-bedroom ‘Stratford’ style remains at Barratt’s Oak Court
development in Bishop Sutton near Bristol. Suited to those moving up the
ladder, Oak Court is available with Help to Buy.
The ground floor includes a spacious lounge and a light and airy kitchen -
with family area. Upstairs is a master bedroom with dressing area and en suite,
two further bedrooms and an attractive bathroom.
On the second floor are two additional bedrooms and a shower room. The
home also features a double garage and two parking spaces.
Bishop Sutton is, a small village within the Chew Valley. The development
offers easy access to local amenities.
Five-bedroom house: Full value: 519,995 • Minimum equity: 80% • Cost of equity: £415,996 • 5% deposit: £26,000 • Mortgage on 80% equity*: £2,888
Total costs: £2,888***
Interested? Call 0845 4744734 or email [email protected] with “Oak Court” in the subject. Remember to include your contact details.
Or visit www.homefocus.co.uk/Oak-Court
THE CEDARS
Reading prices to be confirmed from 35%
Southern Home Ownership is offering shared ownership at their new
development, The Cedars, in Reading. The 14 one and two-bedroom
apartments, and the 3 three-bedroom houses all have a bright, modern,
high spec finishes.
The Cedars is sited in a leafy, green suburb of Reading, off Tilehurst
Road, with easy access to Reading town centre, and the good news for
commuters is that Reading’s main railway station will get you to London
Paddington in less than half an hour. Being just off of the M4, there’s also
great road links to London and the South West. And a half hourly coach
service will get you to Heathrow Airport in around 40 minutes.
All Saints Junior School is just three minutes from The Cedars and
Prospect Park is close by.
Interested? Email [email protected] with “The Cedars” in the subject. Remember to include your contact details.
Or visit www.homefocus.co.uk/The-Cedars
LIMES PARK
Basingstoke from £126,000 for 80%
Taylor Wimpey has one and two-bedroom apartments on offer at The
Sycamores at Limes Park in Basingstoke.
A two-bedroom apartment, for example, features an open-plan kitchen/
living/dining room, an en-suite master bedroom, a second double
bedroom, a main bathroom and handy storage cupboards located off the
entrance hallway. The property also benefits from allocated parking and
access to a communal garden outside.
Limes Park is located off Park Prewett Road and the development forms
part of the wider Park Village on the north-western fringes of Basingstoke, with the town centre just two miles away.
Open countryside is just a stone’s throw away, offering nature trails and opportunities for woodland walks and cycling.
One-bedroom apartment: Full value: £157,500 • Minimum equity: 80% • Cost of equity: £126,000 • 5% deposit: £7,875 • Mortgage on 80% equity*: £875 • Total costs: £875***
Interested? Call 0845 4744734 or email [email protected] with “Limes Park” in the subject. Remember to include your contact details.
Or visit www.homefocus.co.uk/Limes-Park
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 211
Katie Glover
Previous situation: Living with parents
Scheme: Shared Ownership
Location: Graylingwell Park
Provider: Affinity Sutton
Help to Buy Agent: Helptobuysouth.co.uk ‘I’ve got my independence at last!’
For 25 year old nurse Katie Glover, walk to work, so I have more time to myself.’ £200 a month in mortgage payments and
Affinity Sutton’s shared ownership Katie, who works at St Richard’s Hospital a further £360 to Affinity in rent. It’s less
scheme at Graylingwell Park has done more than the average for renting a one-bedroom
than help her get on the property ladder, it’s in Chichester is now able to be with her apartment in the area.
also relieved her of a long commute to work friends and work colleagues, rather than
and given her independence. spend time on the train. ‘Most of my friends ‘I saw the apartment and thought it was
are local so it’s a lot easier now for me to perfect,’ says Katie. ‘I knew I wouldn’t be
She says, ‘I was living with my parents in meet up with them after work,’ she says able to afford anything else like it. Thanks
Southampton to save up for a deposit and to shared ownership I was able to move out
the commute took up so much time and Katie purchased a 30% share in her one- of my parents’ home a lot quicker than I
wasted lots of money. From Graylingwell bedroom apartment at Graylingwell Park had planned and I’ve got my independence
Park it only takes me about 10 minutes to for £46,650 (full market value £155,500), at last!’
putting down a £7,000 deposit. She pays
Will this story inspire you to become a homeowner? See the list of low cost home ownership (LCHO) properties on
pages 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-near-you. Or email [email protected]
22 homefocus • JULY/AUGUST 2015
South Properties
CORINTHIAN
Bath Riverside from £100,000 for 40%
Bath Riverside is Bath’s MANSFIELD PARK
newest residential quarter
and Corinthian is the latest Southampton, prices tbc for 80%
block of apartments to be
marketed there: Curo Homes is Available through Help to Buy, Lovell is offering a new
offering one and two-bedroom development, Mansfield Park, which will be launched off-plan,
apartments on a shared any time now.
ownership basis.
This attractive development off Exford Drive will feature
Each apartment offers a versatile open-plan living/kitchen/ a range of homes suitable for first time buyers, families and
dining area and spacious family bathrooms with one or two downsizers including one and two-bedroom apartments and
bedrooms. All apartments come with an allocated parking space. three and four-bedroom houses.
When completed, Bath Riverside will be a vibrant community Mansfield Park is within three-and-a-half miles of
with around 2,000 homes, a new primary school, student Southampton Parkway railway station, the M27 and
accommodation and a choice of cafés. Southampton airport.
The development is a five minute walk from a supermarket and Interested? Call 0845 4744734 or email [email protected] with
ten minutes from Oldfield Park railway station.
“Mansfield Park” in the subject. Remember to include your contact details.
Two-bedroom apartment: Full value: £250,000 • Minimum share: 40% Or visit www.homefocus.co.uk/Mansfield-Park
Cost of share: £100,000 • 5% deposit: £5,000 • Mortgage on share*: £555
Rent on remaining share**: £343 • Total costs: £898
Interested? Email [email protected] with “Corinthian” in the
subject. Remember to include your contact details.
Or visit www.homefocus.co.uk/Corinthian
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
DO YOU WANT TO PAY LESS
FOR YOUR ENERGY
With energy bills on the rise, call us free on 0800 0014 706 or
visit www.myhomeenergyswitch.org.uk today to find the best
price for your gas and electricity.
It’s free, fast and simple to switch and we’ll take care of all
the paperwork.
homefhoocumse•foJUcuLYs /•AJUUGLYU/SATU2G0U15ST121015 23
Midlands
Starting to think that you can buy your own home? Could buying in the Midlands be more cost
effective than renting or commuting? Then take a look at this selection of low cost home ownership
(LCHO) homes.There are more listed on pages 58 and Midlands homefinder on pages 64. Or visit
www.homefocus.co.uk/Low-cost-homes-near-you.
CALDON QUAY
Stoke-on Trent from £83,960 for 80%
Lovell is offering Help to Buy in the parking space and master bedroom with centre, while the soothing waterfront
second and final phase of their Caldon en-suite facilities and a contemporary setting is ideal for unwinding when you
Quay development, a waterside setting kitchen including an integrated fridge- need a rest from the bright lights
with high-quality homes. freezer, brushed steel chimney hood and
Bosch hob and double oven. For train travellers, Stoke-on-Trent
A number of two-bedroom apartments railway station is only a mile from the
are available in Beech House in the Located off Ridgeway Road, Caldon development.
very heart of the development, plus just Quay is perfectly placed for the
one ground floor canalside apartment, entertainment and excitement of the city www.homefocus.co.uk/Caldon Quay
overlooking the water and with its own
private entrance on offer. One-bedroom apartment: Full value: £104,950 • Minimum equity: 80% • Cost of equity £83,960
5% deposit: £5,248Mortgage on 80% equity*: £460 • Total costs: £460***
All apartments have their own dedicated
Want to know more? Then email [email protected] with the name of the development that interests you in the subject line and don’t
forget to include your contact details. Or you can visit www.homefocus.co.uk.
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
24 homefocus • JULY/AUGUST 2015
Midlands Properties
EDEN VALLEY
Walsall from £99,960 for 80%
Situated just over a mile from Walsall’s a generous living room with French doors Interested? Email [email protected] with
centre is the Eden Valley development to the garden and attractive kitchen/
where Lovell is offering Help to Buy on dining room with kitchen appliances “Eden Valley” in the subject. Remember to include your
two-bedroom homes. including a Bosch hob and oven. contact details.
Or visit www.homefocus.co.uk/Eden Valley
The two-bedroom Keinton mid-terraced Eden Valley has an established
style house has two parking spaces, and community with plenty to offer locally
features a kitchen with Bosch oven and and excellent transport links connecting
hob, cloakroom and a spacious living/ you to the motorway network and the rest
dining room with French doors to the of the West Midlands.
garden.
Two-bedroom house: Full value: £124,950
Featured (and a little more expensive) Minimum equity: 80% • Cost of equity: £99,960
is the ‘Gayton’ end terrace home with a 5% deposit: £6,248
surprising amount of space and driveway Mortgage on 80% equity*: £548
parking for two vehicles. This home offers Total costs: £548***
THE LEYS
Wellingborough from £39,750 for 30%
Metropolitan is offering attractive two Rail links from Wellingborough will
and three-bedroom family houses in get you to into London St. Pancras (47
Wellingborough, available through minutes), Nottingham (65 minutes),
shared ownership. Corby (20 minutes) and Leicester (30
minutes).
All of the light and airy homes
feature fitted kitchens, incorporating Two-bedroom house: Full value: £132,500
integrated Bosch and Smeg appliances Minimum share: 30% • Cost of share: £39,750
and oak worktops. The fully fitted 5% deposit: £1,898 • Mortgage on share*: £221
bathroom has a heated towel rail and Rent on remaining share**: £213 • Total costs: £434
each home comes with a downstairs
w.c, carpet and tiles throughout. The Interested? Email [email protected]
living/diner leads into a rear garden
and outside, is allocated parking (two with “The Leys” in the subject. Remember to include
spaces for the three-bedroom homes). your contact details.
Or visit www.homefocus.co.uk/The-Leys
BELGRAVE RIVERSIDE
Leicester from 80% prices tbc
Westleigh is offering Help to Buy on Parking courts have been created at the
the third phase of their new homes rear of homes to minimise their influence
at Belgrave Riverside at Ross Walk in on the street scene and also to maximise
Leicester. privacy and security for vehicle owners.
The development has transformed The development is located off the
the former British Union Shoe A607 Belgrave Road, within a short
Machinery head office into a desirable walk of the Golden Mile and within easy
residential development, close to the reach of local amenities, Abbey Park and
city centre and Wesleigh is providing Leicester city centre.
a mix of two, three and four-bedroom
properties in two and three storey Interested? Email [email protected]
styles forming terraced town house
street scenes. with “Belgrave Riverside” in the subject. Remember
to include your contact details. Or visit www.
homefocus.co.uk/Belgrave-Riverside
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 25
Ayo Bakare
Previous situation: Living with Parents
Scheme: Help to Buy
Location: Birmingham
Provider: Barratt Homes ‘Without Help to Buy, I don’t think I would
have my own house’
Help to Buy Agent: www.helptobuymidlands.co.uk
W ith the cost of house prices in the due to work and says that without using parents, it’s great to have all this space and
capital rising so quickly, thousands the Help to Buy scheme, he wouldn’t have independence. I am used to the hustle and
of young professionals have left London been able to afford a brand new home, bustle of city life and you still get that in
in search of a more affordable life. Ayo ‘I have saved a lot of money by buying Birmingham, but the great thing is that the
Bakare, 24, bought a brand new three- a home in Birmingham rather than in countryside is never too far away which is
bedroom Barratt home at the Kings Rise London. The Help to Buy scheme has very different from what I am used to.’
development in Kings Norton. proved to be a blessing as without it, I
don’t think I would have my own house.’ Kings Rise offers a range of three
Ayo, an Investment Consultant, moved and four bedroom houses priced from
from London Capital to the Midlands Ayo continued; ‘Having lived with my £199,950 (that’s £159,960 with Help to Buy).
Will this story inspire you to become a homeowner? See the list of low cost home ownership (LCHO) properties on
page 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-near-you. Or email [email protected]
26 homefocus • JULY/AUGUST 2015
Midlands Properties Do you need
help to buy
GOODWIN PARK a new home?
Kidderminster from £119,960 for 80% With Help to Buy Shared Ownership you
purchase a share in a brand new home and pay
Barratt a subsidised rent on the part you don’t own.
Homes’ new Orbit Homes has developments of new homes
development right across the South East, Midlands, and East
on Stoney of England.
Lane, So whether you’re looking for a one bedroom
Kidderminster apartment, a two bedroom house or a three
features a bedroom family home we’re here to help you
range of three get your feet on the property ladder.
bedroom
homes To find out more call:
available with
Help to Buy. 0845 600 3674
Ilustrated is or email: [email protected]
the The Barwick style semi-detached family home. The ground www.orbithomes.org.uk
floor comprises a lounge and dining area, with French doors
leading to the rear garden, a fully fitted kitchen with family Terms and conditions. Percentage shares
breakfast area, plenty of storage space and a useful cloakroom. offered vary by development and are subject
Upstairs is a master bedroom with en suite, two further to personal financial circumstances. Following
bedrooms and a family bathroom. a full financial review applicants will be
offered the maximum share they can afford.
Three-bedroom house: Full value: £149,950 • Minimum equity: 80% Full details are available from Orbit Homes.
Cost of equity 119,960 • 5% deposit: £7,498 • Mortgage on 80% equity*: £657
Total costs: £657***
Interested? Email [email protected] with “Goodwin Park” in the subject.
Remember to include your contact details. Or visit www.homefocus.co.uk/Goodwin-Park
KINGS MEADOW
Wingerworth from £207,960 for 80%
Help to Buy isn’t
just for first time-
buyers and Rippon
Homes are offering
this more affordable
option on a range
of three and four-
bedroom homes at
their development
at Deerlands Road
in Wingerworth.
Featured is the ‘Westminster style four-bedroom family home
comprising a sitting room with feature bay window, a separate
dining/family room and a large breakfast kitchen with French
doors opening onto the south facing, private garden.
Upstairs, two of the bedrooms include fitted wardrobes, the
master bedroom has an en-suite and there is also a separate
family bathroom. Outside is a garage with driveway and parking
space for three cars.
Three-bedroom house: Full value: £259,950 • Minimum equity: 80%
Cost of equity 207,960 • 5% deposit: £12,998
Mortgage on 80% equity*: £731 • Total costs: £731***
Interested? Email [email protected] with “Kings Meadow” in the subject.
Remember to include your contact details. Or visit www.homefocus.co.uk/Kings-Meadow
* Approximate figures only, assuming a 25 year mortgage at 5%. *** Help to Buy property, interest
on the equity loan starts in year 6. Please note: monthly outgoings do not include service charges
South West
Starting to think that you can buy your own home? Could buying in the south west be more cost
effective than renting? Then take a look at this selection of low cost home ownership (LCHO) homes.
There are more listed on page 59 and our South West directory on page 61. Or visit www.homefocus.
co.uk/Low-cost-homes-near-you.
HELE PARK
Newton Abbott from 172,600 for 80%
Taylor Wimpey is offering Help to Buy on bedrooms and a family bathroom, while outstanding by Ofsted and Bradley Barton
a selection of houses, in Newton Abbott. outside, the property benefits from Primary and Newton Abbot College,
driveway parking for two cars. which are both rated ‘good’.
Illustrated is the three-bedroom semi-
detached ‘Flatford’ style home with Hele Park is located on the western Newton Abbot Railway station provides
living/dining room opening through fringes of Newton Abbot where families direct services to Plymouth, Exeter and
French doors to the private rear garden, have a choice of schools for children of all London Paddington.
plus a spacious kitchen/breakfast room ages within easy reach, including Canada
and a guest cloakroom located off the Hill Primary School, which is rated www.homefocus.co.uk/Hele-Park
entrance hallway.
Three-bedroom house: Full value: £216,000 • Minimum equity: 80% • Cost of equity: £172,800
Upstairs, the landing leads to an en- 5% deposit: £10,800 • Mortgage on 80% equity*: £947 • Total costs: £947***
suite master bedroom, plus two further
Want to know more? Then email [email protected] with the name of the development that interests you in the subject line and don’t
forget to include your contact details. Or you can call 0845 474 4734.
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6
28 homefocus • JULY/AUGUST 2015
South West Properties
BARNHILL GATE
South Gloucestershire from £73,000 for 40%
Set right on the edge of the Cotswolds, from its own private garden and off-
these contemporary two and three- street parking space.
bedroom properties are just a stone’s
throw from the historic market town The homes are a short walk from Yate
of Chipping Sodbury and its thriving Shopping Centre’s shopping complex
high street. and are ideally placed for local schools
and other community facilities.
Built to a high spec by developer
Bloor Homes and made available Two-bedroom house: Full value: £182,500
by Merlin Housing with their own Minimum equity: 40% • Cost of equity: £73,000
equity loan scheme, each property will 5% deposit: £9,125 • Mortgage on 40% equity*: £373
feature an open-plan kitchen/dining Total costs: £373***
room, fitted kitchen and at least one
double bedroom. Interested? Email [email protected]
Outside, each property will benefit with “Barnhill Gate” in the subject. Remember to
include your contact details.
Or visit www.homefocus.co.uk/Barnhill Gate
DUKES RISE
Shepton Mallet from £131,160 for 80%
Bloor Homes is offering a range of two, of a Roman settlement. The town centre
three and four-bedroom homes under provides a mix of shops, restaurants
the Help to Buy scheme in Cannard’s and cafes, with an excellent selection of
Grave Road, Shepton Mallet. well performing schools, supermarkets
and health services. The M4 and M5 are
The properties all boast large within easy reach.
open-plan living areas, high quality
fitted kitchens and spacious double Four-bedroom house: Full value: £163,950
bedrooms. Each of the homes has a Minimum equity: 80% • Cost of equity: £131,160
landscaped garden at the front and 5% deposit: £8,198 • Mortgage on 80% equity*: £719
a single/double garage, carport or Total costs: £719
driveway.
Interested? Email [email protected] with
Shepton Mallet is full of history,
with a variety of listed buildings, a “Dukes Rise” in the subject
beautiful Parish Church and evidence Remember to include your contact details. Or visit
www.homefocus.co.uk/Dukes-Rise
LAVENDER GROVE
Farmborough, Somerset prices tbc for 80%
Lovell is offering 15 three and four- from Bristol make this a great choice
bedroom homes with Help to Buy for commuters looking for a high-
at Lavender Grove in Farmborough, specification home in an attractive
north-east Somerset. village with easy access to the A39 and
A37.
The new homes will come with
the reassurance of a 10-year NHBC Farmborough is a friendly and
warranty and will be designed and thriving community with an Ofsted
built with Lovell’s signature Style, ‘Outstanding’-rated village school.
Quality and Value.
Interested? Email [email protected]
The development’s location, around
eight and a half miles south west with “Lavender Grove” in the subject. Remember
of Bath and just over eleven miles to include your contact details. Or visit www.
homefocus.co.uk/Lavender-Grove
* Approximate figures only, assuming a 25 year mortgage at 5%. **Assumes rent is charged at 2.75% of the share you don’t own, per year.; *** Help to Buy property, interest on the equity loan starts in year 6.
Please note: monthly outgoings do not include service charges
homefocus • JULY/AUGUST 2015 29
Ashley and
Chelsea Evans
Previous situation: Renting
Scheme: Help to Buy
Location: Weston-super-Mare ‘we have been able to buy a larger house than
we were originally looking at’
Provider: St Mowden Homes
Help to Buy Agent: www.helptobuysw.org.uk
F irst time buyers Ashley and Chelsea place to bring up our daughter’. meant that we have been able to buy a
Evans, and their nine month old Chelsea acknowledges that getting a larger house than we were originally
daughter Nevaeh, had been looking for looking at. The extra space is great when
just the right property for ages, one that mortgage and saving for a deposit is a you have a baby in the house, especially
was affordable, child friendly and big struggle for the majority of young families the open plan living, and it means we
enough for them to grow into. nowadays so, when the St Mowden sales can really start planning for our future.
office told them about the Help to Buy The St. Modwen Homes sales team took
So they were pleased when they scheme, they were keen to check it out us through the process step by step,
found Locking Parklands, an award and see if it was a feasible option. explaining everything along the way
winning development of homes offered and helping us decide what options
by St Mowden. This new community Chelsea and Ashley looked at two worked best for our own situation. I
on a former RAF site, is tucked behind and three-bedroom homes, all with high would certainly recommend Help to
mature woodlands, enjoys views over or vaulted ceilings and large windows Buy to other people searching for a new
beautiful open parkland, and is less than and great external facades – all gains property, it really has helped us buy our
15 minutes from the Weston-super-Mare from the previously military style of perfect home.’
seafront. Chelsea said: ‘We’d been looking the RAF buildings. They settled on a
for a house for over a year, but when we three-bedroom terrace house, with a When complete, Locking Parklands
saw the green spaces on offer at Locking designer kitchen, open plan dining and incorporate a district centre will shops,
Parklands we knew the development living areas, and high quality fittings a library, school and additional leisure
would be a safe, welcoming and beautiful throughout. facilities
‘Purchasing under Help to Buy has
Will this story inspire you to become a homeowner? See the list of low cost home ownership (LCHO) properties on
pages 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-near-you. Or email [email protected]
30 homefocus • JULY/AUGUST 2015
South West Properties
MapleWalk
QUAY WEST PENN AN DRE
eWalk eWalk
Poole from £124,000 for 80% Truro from £182,400 for 80%
MapleWalk Map
Burton Property has one and Taylor Wimpey has a range
two-bedroom apartments of three, four and five-
at Quay West in the heart of bedroom houses available
Poole – available with Help through Help to Buy at
to Buy. Penn An Dre in Truro.
The four-storey building Shown is the five-
is stylish and each home has bedroom detached
an open-plan layout of the ‘Chelmsford’ which features a spacious kitchen/breakfast/
living/dining/kitchen area to create a light, airy space. The dining room opening through French doors to the private rear
designer kitchen is well equipped with integrated appliances, garden, plus a large living room, a study and a guest cloakroom
including a hob, oven, microwave, fridge/freezer and washer- located off the entrance hallway. All of the new properties feature
dryer. energy-saving measures as standard, including highly efficient
boilers and central heating systems, low-energy lighting and
All of the homes above the ground floor have balconies and, appliances, plus high-quality double glazing and insulation.
even though Quay West is in the heart of the town, some of
the upper floor apartments have sea views. There is allocated There is a choice of primary and secondary schools close to
car parking for all of the apartments, together with additional the new homes, and for commuters, Truro railway station offers
visitor spaces. direct services to Penzance and Plymouth.
Mapl
One-bedroom apartment: Full value: £155,000 • Minimum equity: 80% Three-bedroom house: Full value: £228,000 • Minimum equity: 80%
Cost of equity: £124,000 • 5% deposit: £7,750 • Mortgage on 80% equity*: £680 Cost of equity: £182,400 • 5% deposit: £11,400Mapl
Total costs: £680*** Mortgage on 80% equity*: £1,000 • Total costs: £1,000***
Interested? Email [email protected] with “Quay West” in the subject Interested? Email [email protected] with “Penn An Dre” in the subject.
Remember to include your contact details. Or visit www.homefocus.co.uk/Quay-West Remember to include your contact details. Or visit www.homefocus.co.uk/Penn-An-Dre
* Approximate figures only, assuming a 25 year mortgage at 5% ** Assuming rent at 2.75% of the share you don’t own, per year *** Help to Buy property. Interest on equity loan starts after 6 years
fantastic new homes from £71,000
for a 40% share plus a monthly rent and service charge
thcercarcuknchfrwehieetfpmlahpPalsoltyriwrnhommtpigtegteea+haapsncgcaugyrtnrtbkeoiedojtopeatpuc-canrgotmersonntearotdddtto+geiyteta!evicraoprevterinmnoinast-ossstlinutniPte44l4sus 0800 316 3316
[email protected]
Plymouth
lk homefocus • JULY/AUGUST 2015 31
NEVER MIND THE
B* * * * C KsHERE’S SHARED OWNERSHIP...
Have you ever been put off from Shared ownership homes are just tiny
doing something you wanted to starter flats…
do, or worse, stopped yourself
from doing something that might Some of them may be starter homes, but they’re not
have worked out well for you, tiny… In fact, they have to meet higher standards of
because of what others might space, storage and eco-efficiency than typical new
say? Well, here’s some of the builds, so you’re actually getting more home for your
things we’ve heard about shared money.
ownership… and how we see
them. You have to earn a lot.
With apologies to the designers of the Album of the same name by the Sex Pistols Well, buying a home does cost... but then so does
renting. If you look at the comparisons on page 11, you’ll
see that buying through shared ownership should work
out less than if you were buying the full cost of the home
or renting privately.
But you can’t earn too much!
Shared ownership is designed for first time buyers,
specifically those that can’t stretch to buying the home
they need without a little leg up on the ladder. So you’ll
need to earn enough to sustain a mortgage and other
household outgoings, but earn less than £60,000 per
year. You can earn more in London and still qualify,
reflecting London’s higher prices.
You have to have savings.
You’ll need to have enough to cover removal costs,
setting up home costs and of course, you need your
deposit. That’s the case when buying any home. But
here’s something. With shared ownership you only need
5% of the price of the share you’ll be buying – not of the
full price of the home. Now doesn’t that change things?
32 homefocus • JULY/AUGUST 2015
Myths & Misunderstandings
Mortgages are hard to get They tell you how much you can afford and
what share to buy!
It’s no harder to get a mortgage for a shared ownership
property than it is any other. Especially since the recent Housing associations have always given their buyers an
Mortgage Market Review has laid down guidelines for affordability check to make sure they don’t over-stretch
anybody getting any sort of mortgage. themselves financially and try to borrow more than they
can pay back.
Housing Associations and specialist mortgage advisors
have been working hard to make sure that mortgages are Time was when mortgage companies would lend
available and the result is that shared ownership buyers people huge amounts, and we all know the results of
are far MORE likely to be able to get a 95% mortgage that! And it led to the Mortgage Market Review to make
than other first time buyers. sure that everyone, not just shared owners, undertake a
sensible assessment of what someone can pay back.
Rent AND mortgage – isn’t that more
expensive? You have to live or work in the same
borough as the property you want.
Not really, that’s why we refer to it as Low Cost Home
Ownership (LCHO)! If you buy through shared ownership A new-build property is quite often available first to local
you’ll have a mortgage on the share you buy, and pay people. But after quite a short period of time, it is opened
a subsidised rent on the share you don’t, so it generally up to others. And anyone may apply for an existing or
works out less per month than renting privately, and resale shared ownership property.
definitely less than buying the full 100% of your home.
Housing associations won’t allow me to
Shared ownership? Does that mean have a pet.
sharing with someone else?
That’s the case for most leasehold properties, shared
No! Although you can, if you want to! ownership or not! In some circumstances, if the property
You’re sharing the ownership of your home with the is a house or a ground floor property with a garden/patio a
small pet would be allowed.
housing association, and you’ll pay them rent on the
share you don’t own. Plenty of people buy their shared Is buying shared ownership more
ownership home with a friend or sibling though. But no complicated?
one from the housing association will move in with you,
and they won’t move another family in either! It’s the Buying any property isn’t easy. That’s why there’s a whole
ownership you share, not the living space. industry of conveyancing solicitors and independent
mortgage advisors (IFAs). And some specialise in shared
Isn’t there more form filling to do? ownership transactions. Use a specialist who not only
understands the process of buying a shared ownership
Probably not and the result is being able to find a home property but has done it so often that they can explain it
of your own. Outside of London, you will have to register to you in layman’s terms.
with a Help to Buy Agent and what this means is that you
don’t have to track down and register with every housing Buying is ok, but what happens when you
association in your area. You just fill in ONE set of initial come to sell.
registration forms, undergo ONE basic affordability and
eligibility check, not the same thing over and over for Shared ownership reflects the market. When the market
every organisation. is good, it’s good for all properties - when it’s bad, then it
will be bad for shared ownership too. The one difference
In London, things are a bit different, less centralised. is that your housing association will have first opportunity
But it’s perfectly usual to register with Rightmove and to find you a buyer. When the market is good, they’ll have
Zoopla and then give your details to every estate agent a ready-made list of those people wanting to apply and in
they redirect you to. So if you’re in the market to buy, difficult times, they are still honour-bound to try to find you
you’ll be used to form filling. a buyer in a few (usually 8) weeks.
homefocus • JULY/AUGUST 2015 33
McLEANANDREATV PRESENTER
34 homefocus • JULY/AUGUST 2015
Inconversationwith...
Scottish television presenter Andrea What is your vision/opinion on the lack of
McLean is best known for her roles affordable housing in the UK?
presenting on GMTV, and more
recently as the co-anchor on ITV’s I fully agree with the regulations that every new housing
daytime chat show Loose Women. development has to include affordable homes, because
But there’s more to Andrea than otherwise first time buyers will hugely struggle to own their
being a presenter, she is also a own home, and this removes the choice to buy. I think it is
journalist who writes about interiors a choice that everyone should be able to take part in if they
and DIY for several newspapers and wish, whether it is part or full ownership. I also think that
magazines so we were delighted renting good quality affordable homes is an option to be
when she agreed to chat with us. explored, as long as tenants and landlords are protected and
treat each other respectfully.
What attracted you to being a TV presenter,
and what do you like most about what you What advice would you give to those looking
do? to purchase their first home?
I didn’t plan to be a TV presenter, it just kind of happened! Always look for a home that you can add value to, whether
I was a features journalist working for press agency when a it’s just through decorating, or eventually adding rooms with
chance came up to be a presenter. It sounded like fun, I had an extension. Don’t just look at the house for today, think how
nothing to lose so I quit my job and gave it a go. 20 years it can work for you tomorrow. Will it grow with you, is it on
later and I’m still giving it a go! What I love about my job is a desirable street that will increase in value, is it near good
that every day is different. Either I am interviewing a TV star, transport links and good schools? All these things are much
or discussing politics or laughing about kids, no two days more important than whether you like what colour a room is
are the same. painted. Those changes can be made yourself, and don’t even
have to cost much. Save money where you can by buying
When did you buy your first home, what was good quality second hand furniture and safe electrical goods
it like, and what made you choose it? from charity shops such as BHF Furniture & Electrical stores.
I always keep an eye open for bits and pieces that can be
My first home was a one and a half bedroom flat in south upcycled and brought back to life, as well as things that work
London. It was hugely exciting, as when I first moved to just as they are.
London I lived in a bedsit so small you couldn’t fit a bed in
it - I slept on a mattress in an alcove above a cupboard! So Tell us about what you are currently working
having my own home to cherish was a really big deal. It was on and what’s next for you?
more than I could afford at the time and I stretched myself,
but it was worth getting on the property ladder as one year I’m hosting ITV’s Loose Women twice a week at lunchtime
later the area suddenly boomed and it doubled in price. It - a job I love! I also write interiors columns for The Mirror.
was that first lucky move that started me off in the property I’m currently working with the British Heart Foundation to
market. promote their furniture & electrical stores to encourage people
to shop in them and donate their unwanted furniture, which
What do you believe are the most important helps raise funds for research into heart disease. You can find
aspects of a home? out more about what the stores offer and how to donate at
bhf.org.uk/shops
It has to work for YOU. If it makes you feel good and ticks
all your boxes then it is the home for you. Everyone has
different likes, dislikes and needs, so if you find something
that makes your heart sing when you see it, get it. House
buying is a hugely personal thing, not just a practical one,
and I think if you write a list of the practical things that you
need for a home; budget, bedrooms, garden, closeness to
transport - whatever they are - and you find something that
feels right and ticks most of them, then get it. It’s your home,
not a handbag, you can’t just take it back if you change your
mind, so your gut feeling counts for a lot.
homefocus • JULY/AUGUST 2015 35
JUGGLING FINA
R ent, food, going out,
fares, clothes, little Single person on household
treats, they all have income of £30,000
to be juggled each month.
It’s about as easy as... Typically, your pay after tax and national insurance tax is around
keeping the balls in air £2,240 each month.
while riding a unicycle!
45% of your take home pay is £1,008 and would buy you a 25%
If you want to get share of a £285,000 shared ownership home, a £230,000 Help to
serious about becoming a Buy house or a £200,000 Help to Buy apartment.You will need
homeowner, you not only a £3,563 deposit for the shared ownership home as opposed to
need to know how to juggle, £11,500 for the Help to Buy house or £10,000 for the Help to Buy
you need to know what sort apartment.
of home your income will
buy you. So we’ve asked our Shared Ownership Help to Buy
Mortgage expert Richard
Stone to give us some Price £285,000 Price £230,000 (House)
examples of what people
in different situations can get Mortgage payment £394 Mortgage payment £1,004
for their money.
Rent £490 Rent £0
Every mortgage application/loan is different
and takes into account all kinds of things including Service charge £120 Service charge £0
your outgoings and spending pattern as well
as your income and savings, and of course, if Monthly total £1,004 Monthly total £1,004
you have children, then a number of mortgage
lenders will also reduce the amount they feel you
can direct to repaying the mortgage.
Price £250,000 Price £200,000 (Apartment)
So to keep things simple and consistent
Richard, in his examples, has said that up to 45% Mortgage payment £346 Mortgage payment £874
of your take home pay can be used towards
housing costs eg mortgage, rent and service Rent £429 Rent £0
charge. Remember that shared ownership homes
always have some level of service charge and Service charge £120 Service charge £120
with Help to Buy, it’s only leasehold properties
(apartments for our purposes here) that attract a Monthly total £895 Monthly total £994
service charge. Additionally, the total loan amount
should not be more than 4.5 times the household
income.
Ready to juggle?
Our article - Money, money, money on pages 40 & 41 will help
you achieve a good credit rating and suggest good ways to
juggle your money.
Disclaimer: These calculations have been provided as a general guide and should not be relied upon to support an individual transaction. The interest rates, rents, service charges and net income
calculations are simply shown as an indication of costs and do not relate to a specific scheme or situation. For accurate information relating to personal quotes please contact a specialist mortgage advisor
with experience in affordable housing.
36 homefocus • JULY/AUGUST 2015
BuyingPower
NCES
Couple (no children) on Couple + 2 children on
household income of £50,000 household income of £78,000*
(Main earner £30,000 with a second (Main earner £60,000 with a 2nd income
income of £20,000) £18,000)
Typically, this couple’s take home pay is around £3,347 each month.
45% of your take home pay is £1,506 and would buy a 25% share of Typically, this family’s take home pay is around £4,787 each month.
a £420,000 shared ownership home, a £340,000 Help to Buy house
or a £300,000 Help to Buy apartment.You will need a £5,250 deposit 45% of their take home pay is £2,154 and would buy a 25% share
for the shared ownership home as opposed to £17,000 for the Help of a £600,000 shared ownership home, a £490,000 Help to Buy
to Buy house or £15,000 for the Help to Buy apartment. house or a £450,000 Help to Buy apartment.You will need a £7,500
deposit for the shared ownership home as opposed to £24,500 for
You could buy a 25% share of a £400,000 shared ownership home, the Help to Buy house or £21,000 for the Help to Buy apartment.
a £300,00 Help to Buy house or a £260,000 Help to Buy apartment.
You will need a £5,000 deposit for the shared ownership home as * outside of London, households earning more than £60,000 are not eligible for shared
opposed to £15,000 for the Help to Buy house. ownership
Shared Ownership Help to Buy Shared Ownership Help to Buy
Price £420,000 Price £340,000 (House) Price £600,000 Price £490,000 (House)
Mortgage payment £580 Mortgage payment £1,484 Mortgage payment £830 Mortgage payment £2,139
Rent £722 Rent £0 Rent £1,031 Rent £0
Service charge £150 Service charge £0 Service charge £150 Service charge £0
Monthly total £1,452 Monthly total £1,484 Monthly total £2,011 Monthly total £2,139
Price £350,000 Price £300,000 (Apartment) Price £550,000 Price £450,000 (Apartment)
Mortgage payment £512 Mortgage payment £1,310 Mortgage payment £760 Mortgage payment £1,965
Rent £636 Rent £0 Rent £945 Rent £0
Service charge £150 Service charge £150 Service charge £150 Service charge £150
Monthly total £1,298 Monthly total £1,460 Monthly total £1,855 Monthly total £2,115
Terms used in the calculations: The figures have been prepared on the basis of a repayment mortgage over a 25 year term. The rate of interest used in the examples is 5% which is higher than current
mortgage rates available. The shared ownership figures have been based on a minimum share of 25%, assuming a 95% mortgage and a 5% personal deposit. The Help to Buy figures have been based on
a mortgage equivalent to 75% of the full purchase price and a 5% deposit of the full purchase price with the remaining 20% being provided by the Help to Buy scheme.
The shared ownership rent has been based on 2.5% and the service charge is a shown at a typical level. Both these sums will vary on a property specific basis.
homefocus • JULY/AUGUST 2015 37
NeutralNATURALLY
Neutral colours and
natural materials can add
a sense of calm to any
room. By decorating with
just a few neutral shades
at a time and then adding
natural textures such as
wood, and jute you can
create a sophisticated
space to suit any style
of home. In addition to
the few accessory ideas
we’ve collated here, you
could consider installing
natural flooring such
as seagrass or sisal, or
perhaps even making
your own piece of natural
furniture by attending
a craft course such as
those offered by www.
theschoolofstuff.co.uk
Items available from
www.dunelm-mill.com
38 homefocus • JULY/AUGUST 2015
HomeStyle
1 2
4 3
8 5 7
6
1 Natural rope knot weighted
9 doorstop £16
10 www.tch.net
2 Water Hyacinth extra large
11 storage basket £59
12 www.wovenhill.co.uk
3 Umbra Woodrow waste bin £20
www.redcandy.co.uk
4 Woven circular rug £14.99
www.hm.com/gb
5 Kitson round dining table £89
www.made.com
6 Natural wood lantern £49.50
www.thefarthing.co.uk
7 Tamky stool £40.69
www.urbanara.co.uk
8 Rose & Grey natural seagrass
basket £28
www.debenhams.com
9 Whitewashed wooden bird
ornaments £20
www.tch.net
10 Zena natural rattan lampshade
£27
www.diy.com
11 Gold crochet cushion £40
www.frenchbedroomcompany
.co.uk
12 Home word block clock £14
www.next.co.uk
homefocus • JULY/AUGUST 2015 39
MMMOOONNNEEEYYY
Before you worry about location, location, location, think about
money, money money! Money for your deposit, money for your
mortgage and money to get through each month.
The budget planner on the right hand page will • Check with your council to see that you are on
help you work out your income and outgoings each the electoral roll. Not being on the electoral roll
month so you’ll know how much you can afford to reduces your chances of being accepted.
pay in mortgage (or mortgage and rent on a shared • Try to pay off existing debts before you apply,
ownership property). And if you need to build or at the very least reduce them by as much as
up a deposit, it will also help you work out how possible.
much you can save to put towards it. But the rest of • Don’t miss or make late repayments on any loan,
this page will help you get the best mortgage deal credit card or utility bill. Missed or late payments
available by making sure your credit rating is as can stay on your credit file for up to 6 years and
high as possible. can play havoc with your chances of obtaining a
mortgage.
Credit ratings • Keep within your bank overdraft limit and
preferably keep in credit for at least 6 months prior
A below average credit rating will affect the to applying for a mortgage. Lenders will ask to
mortgage terms you’re offered or perhaps even see between 3 and 6 months of your most recent
lead to your mortgage application being turned bank statements and if you have overstepped
down altogether. And there’s no way round it. your authorised limit this is likely to lead to an
When you apply for a mortgage, the lender will automatic decline.
carry out a credit check which provides them with • If you’ve never had credit before, it can be
a breakdown of all historical financial transactions difficult for a lender to assess you. Consider taking
held in your name. This records how much you out a credit card, make a couple of purchases on
have borrowed and how you have dealt with each it each month and repaying them in full within
commitment, i.e. are you a good payer and have the prescribed time limit. This will help to build a
you paid on time? This check also provides a “credit good credit history.
score” to help the lender make a decision on your • Having too much credit available can work
application. Unfortunately, the scoring systems against you. Close any accounts you don’t need or
aren’t published and differ lender to lender and use anymore.
product to product. But we do know that the higher • Lenders want to see a settled financial history
your score, the better chance you have of obtaining so don’t take out any loans or new credit cards
a mortgage and being offered a good interest rate. shortly before applying for a mortgage.
• It’s not always easy, but avoid a job change
Easy steps to maximise your credit immediately prior to submitting a mortgage
score application. Before agreeing to a loan most
mortgage providers like a borrower to have held a
• Obtain a copy of your credit report (the 3 major job for a few months to show that a steady income
agencies are Experian, Equifax and Callcredit) and is being received.
check the content. The reports can occasionally
contain mistakes.
40 homefocus • JULY/AUGUST 2015
MoneyMaestro
BUDGETPLANNER
Get to grips with your finances and plan to have a little left over each month to build
a deposit or to buy those finishing touches for your home. Budget on a monthly basis,
even if it’s an annual bill.This handy planner will be useful when your mortgage
lender asks you about your outgoings. Go to www.homefocus.co.uk /Budget_Planner
and download an electronic version to print off as many as you need.
1 – Income 4 – Everyday expenditure
Wages or salary (net after deductions) Food & Drink
Partner’s wages or salary (net) Housekeeping
Tips, commission or overtime Travel & fares
Other earnings (net) Car expenses (tax/petrol/servicing etc)
Maintenance/child support Childcare (nursery/minder/babysitter)
Working Tax Credit Children (pocket money, activities, events)
Children’s Tax Credit School meals
Child Benefit Pets (food, vet’s bills, insurance)
Any other benefit income Cigarettes and other ‘vices’
Interest on savings Clothes and shoes
Other income Household items (repairs etc)
Health costs (dentist, optician, prescriptions)
TOTAL INCOME (BOX 1)
£
TOTAL EVERYDAY COSTS (BOX 4) £
2 – Housing and utilities 5 – Other expenditure
Mortgage payments Religious and charitable giving £
Rent Entertaining, eating out
Other loans on your home Holidays
Council tax Hobbies (activities, gardening, books etc)
Service charge and/or ground rent Gifts (eg birthdays)
Buildings/contents insurance Christmas or festivals and presents
Life or redundancy insurance Courses and professional fees
Water and sewerage rates Catalogue/mail order payments
Gas
Electricity TOTAL OTHER COSTS (BOX 5)
Other fuel costs
Other housing costs
TOTAL HOUSING COSTS (BOX 2) £ 6 – Your budget
3 – Important expenditure Total income BOX 1 £
Telephone and internet (including mobiles) Housing costs BOX 2
Credit card payments Important expenditure BOX 3
Loan repayments Everyday expenditure BOX 4
Maintenance payments Other expenditure BOX 5
Pension
TV licence Total Outgoings
HP or rental payments (car, tv etc)
(add boxes 2,3,4,5 & 6) BOX 6 £
TOTAL IMPORTANT COSTS (BOX 3) £ MONEY LEFT OVER (BOX 1 – BOX 6) £
homefocus • JULY/AUGUST 2015 41
LADDERFINDING YOUR PLACE ON THE
Lots of people think that low cost home ownership (LCHO) is a great opportunity
but it can’t be for them…can it? Surely it’s only for council tenants? Or keyworkers?
Well, you’d be surprised at the different sorts of people who climb onto the home
ownership ladder thanks to shared ownership and Help to Buy.
Iain and Kelly Biggs
Couldn’t get a mortgage
Even after years of living with their parents and saving hard
to get the deposit they needed to start a new life together
with their son in their own home, Iain and Kelly Biggs were
unable to get the mortgage they needed to buy on the open
market. And faced with rising private rental prices it looked
like their options were limited.
So Kelly’s mum did some research, discovered shared
ownership and pointed them to Red Loft, the sales agent
for Hounslow Homes. And then all of that hard saving paid
off! The couple were able to put down a substantial deposit
and raise a mortgage on a 50% share of a two-bedroom
apartment with private balcony in Feltham.
And they’re excited, ‘knowing that each month we are
contributing towards a property that we could own outright
one day.’
42 homefocus • JULY/AUGUST 2015
BuyerProfile
Laura and Jonathon Willis 75% of the property. This process of buying more shares is
called staircasing and allows shared owners to change their
Wanted an extra bedroom, without the extra cost! situation along with their changed circumstances. Now that
With the arrival of their daughter, Laura, a nursery she owns the apartment outright, she no longer pays rent to
practitioner and Jonathon, a senior liaison officer, needed to the housing association.
move from their two-bedroom home into something more
spacious and child friendly. The question wasn’t where to Previously living at home with her parents, Sahira could
move, but how could they afford another bedroom? have gone on to rent, but says. ‘I didn’t want to be paying
off someone else’s mortgage whilst struggling to save
The couple consulted a mortgage advisor and their local myself. Through shared ownership I could afford to live
Help to Buy Agent (Midlands) and based on the information independently whilst investing in my own property’
they gained about Help to Buy, they chose a three-bedroom
home on a Bellway development in Cannock. Sahira plans to stay in her apartment while continuing to
build her savings in order to buy a family home when the
So here’s the difference: to buy their three-bedroom home time comes.
ordinarily, Jonathon and Laura were looking at paying an
extra £500 each month, but with Help to Buy, the couple Richard and Lucy
needed to find only £50 each month!
Help to Buy meant less time saving
Jonathan said, ‘We were amazed at how it can make Research fellow Richard Sheridan, 28, and primary school
moving house more affordable.’ teacher, Lucy Le Chat, 27, met while they were at university
in Birmingham and after graduating, Richard stayed in
Sahira Ahmed Birmingham to do his PhD, while Lucy moved back home to
Northamptonshire to work.
Started by buying 25% and then bought the rest…
In 2011 and with a deposit of just £1,400, Sahira Ahmed was When they first looked at buying a place together they found
able to buy a 25% share of a two-bedroom, Affinity Sutton it just wasn’t affordable, so Richard ended up moving in with
apartment in Southampton. Three years later, Sahira, now Lucy at her parents’ home so they could save up for a deposit.
aged 29, had saved up enough to put down a further deposit
and increase her mortgage sufficiently to buy the remaining ‘Help to Buy has made a massive difference because we
didn’t have to save for so long,’ says Richard, ‘Without it we
wouldn’t have been able to afford to move – we would still be
saving up.’
The couple started off looking at two-bedroom houses but
quickly realised that Help to Buy would put a three-bedroom
home on the Taylor Wimpey development at Butterfield
Gardens in Rugby within their budget.
Will these stories inspire you to become a
homeowner?
See the list of low cost home ownership (LCHO) properties on
pages 56-59. Or go to www.homefocus.co.uk/Low-cost-homes-
near-you. Or email [email protected]
homefocus • JULY/AUGUST 2015 43
Printed striped curtains £19.95
www.houseofbath.co.uk
SUPER STRIPESOutdoorliving
accessories
www.george.com
If you like bold colour and are looking for a simple way to bring it into your home, then why not
consider stripes. Whether used on a decorative backdrop such as wallpaper or more subtly
on accessories, stripes can help create an illusion of space. Vertical stripes on walls help draw
the eye up which will heighten a room, whilst horizontal stripes can widen a smaller room. So if
your living space is in need of an injection of colourful fun try adding one of these.
44 homefocus • JULY/AUGUST 2015
12 HomeStyle
3
6 4 8 5
9 7 12
1 Bright striped screen £75
10 www.arthouse.com
2 Lexington original striped towels
11 £39
www.amara.com
3 Breton striped lamp £45
www.next.co.uk
4 Esprit Samba striped rug from
£109
www.modern-rugs.co.uk
5 Organic striped cotton lamp
shade £35
www.ochreandochre.com
6 Nashua bed linen from £49
www.urbanara.co.uk
7 Colours, Kensington Striped
Wallpaper £12.81
www.diy.com
8 Striped wall hanging £4
www.tigerstores.co.uk
9 Horizontal block stripe cushion
£32
www.oliverbonas.co.uk
10 African woven cone bowl £17
www.stuffofdreams.com
11 Stripe platter £16
www.houseoffraser.co.uk
12 Stripes storage bag £8.50
www.idyllhome.co.uk
homefocus • JULY/AUGUST 2015 45
WHEN THE DEVELOPERS AND LOCAL
TIME FORAUTHORITIES INVEST IN AN AREA, IT’S
YOU TO BUY!
Ever play the word association game? We give you a word and you say whatever pops into your
head? Try Wembley.What did you come up with? Cup Final, Rock Concert? Live Aid? Well for
locals,Wembley brings the reply…Regeneration. And that means bringing the area to life with
improved facilities, better transport, new commerce and more opportunities for first time buyers.
EVERYONE WINS!
Research shows that residents of regenerated areas tend to display
a real sense of belonging to the new community and benefit from
a reduction in anti-social behaviour. There’s also a ‘halo’ effect
which spreads to the neighbouring areas – they too benefit from
the improvements. Developers, housing associations and the local
authority invest in a community and everyone wins!
Here, we’re focusing on the regeneration in Wembley, but there are
regeneration spots all over the country and if you can identify large
scale investment, you could find yourself excellent value in house
prices. It’s not always easy to spot, but you’re unlikely to go too far
wrong by looking for places where coffee shops are being planned,
or boutique shops that’ll bring in a new trendy audience of shoppers,
workers and residents; areas that will last and that people will be
proud of.
LONG TERM PLANNING
Some regeneration schemes are phased over many years, and early
buyers can get good deals on more affordable homes, although
they may have to put up with the inconvenience of being close to a
building site for a while.
Back in 2007 the London Borough of Brent set a target of 11,500
extra homes by 2026 with half of those new homes set to be
affordable and around 3,450 earmarked for shared ownership.
The early buyers may be the ones who will see their properties
rise in price the most, and each phase will incorporate low cost
home ownership (LCHO) homes that will give people the chance to
become home owners sooner than they hoped.
46 homefocus • JULY/AUGUST 2015
Regeneration
SHARED OWNERSHIP
SAVED SALIM 3-5 YEARS
OF SAVING
Salim Isaf was privately renting a two bedroom flat with a friend,
when his landlord served them notice, so Salim began searching
for another property in Wembley to rent. But it proved really
difficult to find a property which he could afford.
So Salim changed tack and looked to see if he could buy
a home through one of the low cost home ownership (LCHO)
schemes. Octavia’s Elizabeth House development in Wembley
was still under construction at the time but fitted the bill and
Salim reserved an apartment off plan.
Salim stated that without LCHO there is no way he would
have been able to purchase a property. In fact, ‘I would not
have considered buying any time in the near future, I would say
at least 3-5 years.’ But he continues, ‘The figures that were put
to me were so affordable compared to privately renting.’
homefocus • JULY/AUGUST 2015 47
CMHOEVCINKGLIST
PRACTICAL PLANNING FOR MOVING DAY
Finally, after all the searching and dealing a good time to weed out things you don’t want enlist anyone you can find to help, particularly
with mortgage advisors and solicitors, you’ve any more – if you think you might be able to if they’ve got transport. A friend with a van is a
exchanged contracts and have been given a sell them put them all in a separate box marked very good friend indeed when you’re moving. If
date to move in! ‘Sell’ so you don’t unpack it and put it all away you don’t have this luxury, then renting a van is
again when you get to your new place! likely to work out cheaper than a removal firm.
And then you get to thinking… ‘Who do I
need to tell? What do I need to find out? What It goes without saying that you should use If you’ve got lots of furniture to move, then
about moving all my stuff?’ strong boxes – and don’t make them too heavy professional movers are essential. Look for ones
to lift! Use smaller boxes for books, photo that are members of the British Association of
Supposedly, moving home is one of the albums and other heavy items or they might as Removers (BAR) which has a code of practice
most stressful things you can do. But the actual well be bolted to the floor – and mark on top that protects you and your possessions. Get at
process doesn’t have to leave you sitting up in that they’re heavy to stop you doing yourself an least three quotes and make sure your contents
bed at night, eyeballs out, panicking because injury when you try to pick them up. Label each insurance covers moving – get it set up for your
you haven’t told the library your new address! box clearly with the contents and which room new place to cover it if need be.
it’s to go in. Surprises are lovely, but unpacking
So take a deep breath, make yourself a cup nineteen boxes the day you move in just to find If you’ve got children or pets it can be less
of tea and have a quick browse through our the TV remote is beyond the pale… stressful to have them looked after by someone
moving checklist. We’ve come up with all the else on the day. Keep all the essentials (we’ve
people you generally need to inform about your The Move called it your ‘First Night Kit’) in one box and
move – if you have extra people we haven’t make sure you know where it is! If you make
thought of, we hope you remember to tell them! First of all, have a look at how much you have sure your bed is one of the first things you put
Consider yourself reminded by homefocus… in the way of possessions. If you’re in furnished together when you get to your new home you
rented accommodation, or live with family and can just collapse on it, exhausted, at the end of
Pack it in! aren’t taking much in the way of furniture it can the day – and leave all the unpacking until the
be cheaper to move everything yourself. Just next morning!
It’s a fact of life that you ALWAYS have more
‘stuff’ than you ever believed possible! Now is
48 homefocus • JULY/AUGUST 2015
OnTheMove
When you’re due to move there 2 WEEKS BEFORE… People to tell
always seems like an endless n Discontinue regular services such as
list of things to do, people to n Friends and family
inform, boxes to pack and newspapers, window cleaners etc n Post Office
things to organise, so here’s a n Inland Revenue
helpful guide to make sure you n Arrange to have your satellite dish moved to n Schools and colleges
don’t forget anything… n Local councils
your new property if necessary n House insurance company
4 WEEKS BEFORE… n Electricity and gas suppliers
n Complete a change of address form at the n Arrange to discontinue your phone service n Water and sewerage companies
n Telephone company
Post Office to re-route mail and broadband and have it installed at your n Internet supplier
(www.royalmail.com) new address n Satellite/cable TV provider
n TV Licensing
n Inform magazine subscriptions and clubs of n Arrange to transfer your TV licence to your n Banks and building societies
n Credit card/store cards
your new address and moving date new address (www.tvlicensing.co.uk/moving) n Doctor
n Dentist
n Decide which items you’re keeping and which n Complete the relevant section on your car n Car insurance company
n DVLA
you can chuck or donate to charity registration document and licence and send n Car breakdown company
them to the DVLA n Library
n Notify water, gas and electricity suppliers to (more info at www.dvla.gov.uk) n Milkman
n Newsagent/magazine subscriptions
have your services turned off at your present n Call your vehicle insurance to keep cover n Sports and social clubs
address n Church/place of worship
valid. The price may change due to the new n Children’s clubs
n Arrange for utility connections at your new area, new parking arrangements and type of
home you’re moving into First night kit
home
1 WEEK BEFORE… n Kettle
n Contact your new local authority about n Arrange to transfer bank and savings n Mugs, cutlery, plates, glasses
n Coffee, tea, milk, sugar, water
schools and colleges in the area accounts n Washing-up bowl and liquid
n Rubber gloves
n Notify schools, churches etc of your n Tell credit and store card companies your n Map
n Vacuum cleaner/dustpan and brush
impending move new address n Tea towels and cloths
n Toilet roll
n Notify your own and research alternative n Finish up your frozen food supply or give it n Bin liners
n Towels/soap/shampoo
doctors, dentists in your area and liaise with away n Lightbulbs
your hospital if you’re undergoing any regular n Candles and matches
treatment n PACK! n Fuses
n Find and label keys n Screwdriver
n Check parking arrangements at your new n Send out change of address cards, text n Local takeaway menus!
n Bottle of champagne
home and apply for permits if necessary messages and Facebook or MySpace alerts
n Get to know your new area and work out the n Notify relevant authorities in your old and
best routes to work and school. Check out new areas regarding council tax and
www.upmystreet.com to find out more electoral registration
n Book removals company or arrange help from 1 DAY BEFORE…
n Defrost and thoroughly clean the fridge and
friends, van rental etc
freezer
3 WEEKS BEFORE…
n Request packing materials from your n Take down pictures, mirrors, non-essential
removals company, or buy some if you’re curtains and blinds
doing it yourself
n Disconnect your cooker, washing machine
n Return things you’ve borrowed from friends
n Start to run down the contents of your freezer and dishwasher
n Arrange to transfer home insurance, or set
n Confirm minders for children and pets
up new policies to begin the day you move in.
Arrange transit insurance if necessary ON MOVING DAY…
n Make sure you personally take cash and
n Research car boot sales to get rid of stuff
jewellery with you
you’re not taking with you
n Lock all windows and doors when you leave
If you’d like a copy of our moving checklist to help you tick off the organisations you’ll
need to tell you’re moving, go to www.homefocusmagazine.co.uk/Moving_Checklist
and download a copy to print off and stick on your fridge!
homefocus • JULY/AUGUST 2015 49
I’m looking to ASK THE EXPERTS HOUSING ASSOCATION
buy my first flat COMMENT
through shared
Simon Scott
ownership but
worry about Chair London Home Ownership
Group
how to sell it on
if I get a new Selling your shared ownership home when you own
less than 100 percent of it, is known as a ‘resale’ or
job somewhere assignment, and is a very simple process.
else. How do I go
If you’re going to sell your share, first inform the
about it? housing association, usually in writing, of your
intention. A valuation will then be carried out by
Writes Tanith Roberts from Maidstone an independent surveyor, and the property will be
marketed through the housing association, who will
It’s a query that assist you right throughout the process.
comes up a lot.
There is usually an initial eight week period when
There’s a load of the housing association will try to sell the property to
help when their list of registered and eligible applicants but if the
property doesn’t sell during this period, you can sell it
you’re buying, but privately or through an agent.
will someone be
there when you Shared ownership offers great flexibility to first
come to sell. time buyers as you can buy additional shares in
the property as your circumstances change. This is
We asked people called ‘staircasing’ and ultimately allows you to own
with experience to your home outright and means you no longer need
give us their views. pay rent to the housing association. The staircasing
process is very straightforward, and lots of people do
Can we help? it every year.
Got a question but don’t know anyone in the When it comes to selling, if you decide to sell your
know? Send it to us at [email protected] property and you have staircased fully, right up to
100%, then you can simply sell your property in
and we’ll put it to our panel of experts. Or whatever way you choose.
maybe we’ll find someone who has personal
experience to answer your query. It could be a
legal question or a financial issue or a general
query about low cost home ownership. We’ll
do our best to find you some great advice.
50 homefocus • JULY/AUGUST 2015
The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Designed to help you get to know and understand the more affordable ways to getting onto the housing ladder. Shared ownership and Help to Buy properties. Renting can cost more each month than buying. Improving your credit rating helps you get the best possible mortgage. Case history examples – you can be a homeowner!
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Issue Description
Shared Ownership and Help to Buy property advice, access and support to help you get onto the property ladder.
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