property
WHERE THE PERFECT WORLD CAN BE FOUND WITHIN UR NEW HOME
SALES • LETTINGS • MANAGEMENT AGENTS NEW BUILD INITIATIVES FOR
F ir st-Time Buyer s by Valerie Breese
MOVING INTO YOUR OWN HOME for the fi rst time is one of the most exciting things you’ll ever do.
In the current economic climate, some would-be fi rst-time buyers are fi nding it impossible to get onto the housing ladder but since the new Government incentive there are thousands of new and refurbished homes available through New Build HomeBuy (also known as shared ownership or part-buy / part-rent), FirstBuy, HomeBuy Direct and Try Before You Buy or Rent to HomeBuy. You’ll fi nd a range of services to assist
fi rst time buyers and those at the lower end of the property ladder. Affordable housing schemes provide a fi nancially practical solution to home ownership whilst credit is in short supply and mortgages harder to obtain. It works through a joint loan of 20% of the property price from the government and the housebuilder, which means that buyers only need to put down a 5% deposit to qualify for a 75% mortgage. Loans will be free of charge for the fi rst 5 years and repaid when the property is resold. The maximum new home
value under the scheme is £280,000 but this could increase to £300,000 in exceptional circumstances. The scheme is only available if you are a fi rst time buyer and your household income is less than £60,000. You can choose to repay some of your entire loan in instalments, as and when you have the money to do so. The only condition is that each instalment has to be at least 10% of the value of your home at that time. Alternatively, you can repay it with a lump sum when you sell your house. This way, you’ll simply pay back the same percentage of the resale value that you originally borrowed. So, if you buy a home for £200,000 with a FirstBuy loan of £40,000, and then resell it for £300,000, you’ll pay back a lump sum of £60,000. If you pay off part of your loan in
instalments, and then sell your house, you’ll simply pay back the outstanding percentage of the resale value as a lump sum.
This is a good opportunity for fi rst-time buyers searching for a new home, which doesn’t break the bank.
Mews Homes now available at Kidbrooke Village
Berkeley is launching an exclusive collection of three bedroom Executive Mews houses at its prestigious Kidbrooke Village development near Blackheath.
These spacious
properties enjoy open plan living areas, a private rear patio, and include a high
specifi cation with en-suite bathroom to the master bedroom and a good level of storage space.
Flexible living accommodation combined with attractive landscaped grounds, close
proximity to Sutcliffe Park and an established green lakeside environment make these homes highly desirable . Other benefi ts include rail connections to the City and West End, a residents’ gym, concierge service, sports facilities, shops, a supermarket and a range of community services and amenities as part of the new village for London. 3 beds available from £430,000. For further details please call 020 8150 5151 or visit
www.kidbrookevillage.co.uk
38 l
www.meridian-magazine.co.uk LIMITED
26 Corbidge Court, Glaisher Street, Millennium Quay, London SE8 3ES Tel: 020 8692 7000 Fax: 020 8692 7964
www.urtopia.com
Stretton Mansions, Millennium Quay, SE8 £1,500pcm 2 bedroom apartment in the Millennium Quay development. Property comprises open plan reception / appliance fi tted kitchen, bathroom en-suite. Situated within walking distance to Greenwich market, Cutty Sark DLR and Greenwich mainline station.
Corbidge Court, Millennium Quay, SE8 £1,400pcm
Top fl oor 2 bedroom apartment. Property comprises reception, appliance fi tted kitchen, bathroom and en-suite shower room. The apartment also benefi ts from creek views, loft stoarage space, security entry phone system and off street parking. Situated within walking distance to Greenwich market, Cutty Sark DLR and Greenwich mainline station.
Greenfell Mansions, Millennium Quay, SE8 £1,200pcm
First fl oor 1 bedroom apartment in the private Millennium Quay waterside development. Property comprises reception, appliance fi tted kitchen & bathroom. The apartment also benefi ts from a security entry phone system, off street parking and is situated within walking distance to Greenwich market, Cutty Sark DLR and Greenwich mainline station.
Listings Stretton Mansions, Millennium Quay, SE8 £1,700pcm
1st fl oor, 2 bedroom apartment with en-suite in the Millennium Quay development. Property comprises open plan reception/appliance fi tted kitchen, bathroom en-suite, undergound parking & river views. Situated within walking distance to Greenwich market, Cutty Sark DLR and Greenwich mainline station.
Corbidge Court, Millennium Quay, SE8 £1,100pcm
1 bedroom ground fl oor furnished apartment in the popular Millennium Quay riverside development. Property comprises reception, high spec appliance, fi tted kitchen and bathroom. Additional benefi ts include security entry phone system and parking. Close to Greenwich market, Cutty Sark DLR and Greenwich mainline station.
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