36 Property Investments


T e opening of the Queen Elizabeth Line (Crossrail) is set to boost property prices and rents along its route connecting Essex to Berkshire via Docklands, the City and Heathrow Airport


Cricklewood A large-scale regeneration scheme is set to boost the market in north- west London, with Cricklewood and Brent Cross in line for a £4.5bn investment that’s expected to provide approximately 7,500 new homes and 27,000 new jobs, as well as new leisure facilities and improved green spaces. T e development is set to be

completed in 2021-2022, however, the fi rst off -plan properties will go on sale in mid 2019. Property prices in Cricklewood

have been fl at in the past year, which means that those investing now should see promising growth in coming years, especially when a new T ameslink station opens in 2021, which will see the commute into central London cut to just 12 minutes.

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London T e capital has always been popular with property investors and attracts a large number of buyers from abroad. Brexit concerns have cooled overseas demand but analysis by real estate consultants Savills and Knight Frank suggest that the bottom has been reached and that prices and rents are poised to rise again; good news for those who want to see capital growth and rental growth. T e latest LCPAca index for June shows there’s been a rally in average

prices in Greater London over the last quarter, and the opening of the Queen Elizabeth Line (Crossrail) is set to boost property prices and rents along its route connecting Essex to Berkshire via Docklands, the City and Heathrow Airport.

Acton With its mix of Victorian terrace and 1930s houses, plus a number of new developments, the west London area off ers property investors a range of potential homes. Agent JLL forecasts that it too will benefi t from the opening of the Queen Elizabeth line.

Sold prices in Acton over the past year were 12% up on the previous year and 15% higher than in 2015.

Woolwich Estate agents expect Woolwich to benefi t from the Queen Elizabeth Line, and prices have risen by 28.8% in two years. Even so, prices at an average of £323,940 are within the scope of fi rst-time buyers. According to Savills, prices in

Woolwich have been driven up by young professional buyers and the fi rm reckons the rail line will encourage even more buyers.

Guarantor mortgages are the key to the Bank of Mum and Dad

Bump into a fi rst-time property buyer in London these days, and the chances are they’ll be well past their fi rst fl ush of youth

Indeed, the statistics reveal that the

property buyer won’t be an

individual at all but an established couple with children. According to the UK House Price

Index for May this year, the average cost of a fi rst-time home in London in May was £418,735. Meanwhile, the average graduate salary in the city was £27,000. T at’s a ratio of 15:1. Small wonder that there’s so

much talk these days about the Bank of Mum and Dad. Staff see this frequently at Hampden & Co. Affl uent parents are increasingly frustrated by their inability to help their children to be able to buy their fi rst home, other than by buying a property outright for a child. But as soon as it gets into that territory, the shadowy clouds of stamp duty, capital gains and inheritance tax begin to gather. As a result, Hampden & Co

noticed a growing demand for guar- antor mortgages which many main- stream lenders no longer off er, and when they do it’s purely to allow the guarantor to ‘guarantee’ the risk, not to support the actual repayments. T ey’re put off by the increased regu- lation around aff ordability and it

doesn’t fi t into the prevailing ‘tick box’ model that so many institutions now rely on. Of course, that’s not the case at

Hampden & Co, where decisions are always made on an individual basis and its guarantor mortgages are generally provided for proper- ties valued at £600,000 and above. T e company doesn’t just look at income — it takes into account the overall income and assets of both the child and the parent (or another combination of family members) to ensure staff can fi nd a solution that’s comfortable for all concerned. Incidentally, rather than relying

solely on the property to be purchased, staff can also look to the parents’ property assets and take an additional charge if this is required to get to a comfortable level of loan to value.

Please remember that all borrowing is subject to status and is only available to people age 18 or over. Security might be required for borrowing in the form of a charge or standard security over land. YOUR HOME MAY BE REPOSSESSED IF YOU DON'T KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

If you’d like to fi nd out

more, please contact T: 020 3841 9922 E:

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