14 June 2013
Young London commuter looks to Essex for 'Help to Buy'
Countryside highlights that according to a new report by Savills, Help to Buy, the new government scheme announced in April 2013, could help assist over 160,000 first time buyers to acquire their first home over the next three years, a 25% increase in first home purchases on 2012 levels.
One first time buyer who is delighted to be purchasing her first new home is 24 year old Laura James, who thanks to the ‘Help to Buy’ scheme has been able to purchase a two bedroom apartment at Kings Park in Harold Wood, Essex by Countryside.
Laura explains: “I didn’t dream that I would be able to buy my own home and assumed I would have to rent in London when I moved out of my parent’s house, as I didn’t have a large deposit which is normally required to buy a property. However, when I found out that the ‘Help to Buy’ scheme is available at Kings Park, I immediately went to look at the apartments and reserved a two bedroom property the next day.”
“Thanks to the scheme, I only needed a 5% deposit and had to raise a mortgage for 75% of the property’s value, as the remaining 20% is secured by an equity loan from the government. For me, the scheme has enabled me to get on the property ladder and buy a fantastic apartment which ticks every box. Most importantly, I will be paying less per month for the mortgage on my own apartment rather than wasting money renting a similar property in London. I can also rent out the other room to help save money, if I decide to at a later date.”
Laura continues: “Kings Park was a perfect choice, as my parents live nearby in Hornchurch and it is an ideal location for commuting to Canary Wharf where I work as an Operations Analyst for Barclays Bank. Harold Wood Station is only a few minutes walk away, which has a direct service into London Liverpool Street in 35 minutes, so it should only take me about an hour to get to work. We will also be getting Crossrail in 2017 which will help provide an even better rail service and hopefully boost the value of my property.”
Laura adds: “I was really impressed with the service provided by the sales team at Kings Park. They were really helpful and very knowledgeable about the overall development and the Help to Buy scheme, which really made a difference.”
Designed and situated on a tree-lined avenue within a parkland setting, the one and two bedroom apartments at Sovereign Court enjoy a stunning location within Kings Park. Featuring a copper coloured sloped façade and canopy, contrasting with opaque blue-grey detailing and white render, the apartments also have expansive areas of glass and glazed balconies.
With a light, airy and spacious ambience thanks to the full height windows and doors, the open plan kitchen, living and dining areas are ideal for entertaining, and include a balcony which is ideal for dining al fresco. All apartments have fitted wardrobes to the master bedroom. In two bedroom properties, there are en suite shower rooms to the master bedroom.
Finished to a high specification, the kitchens include gloss white and wood finish units, quartz white stone work surfaces and dark grey ceramic floor tiles. They also include a range of integrated appliances including oven, hob, microwave, fridge/freezer and washer/dryer. The bathroom and en-suite feature white sanitary ware with chrome accessorises and cream ceramic wall and floor tiling. The apartments also include parking and cycle storage.
With green open spaces, landscaped gardens and an attractive public realm, Kings Park offers a traditional leafy environment. Footpaths, lanes and cycle routes will connect to expansive areas of public open space and play areas, with a central square providing a focal point and an area of recreation for the community. Offering a great place to relax and unwind, the development is also surrounded by a wealth of countryside, woodland and parks, with green open spaces covering more than half of the borough.
In addition, within walking distance of Kings Park, there are a range of amenities including Harold Wood railway station, plus a Post Office, supermarket, travel agent, several hairdressers, a bakery and a restaurant.
Road links are superb too with the A127, A12 and M25 all within 2 miles of Kings Park. The property consultancy GVA has predicted that homes near stations at either end of Crossrail, in Berkshire and Essex, would see home values increase by 20 per cent above the baseline trend.
The apartments at Kings Park are available from £170,000. With Help to Buy, apartments start from £136,000 with a deposit of £8,500 and a mortgage for £127,500, with the remaining 20% provided by an equity loan from the Government. Further information is available from the marketing suite by calling 01708 348 578 or by visiting www.kings-park.co.uk