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With property prices in London set to increase by 5% this year* it is unsurprising that the new Help to Buy London scheme, which launched at the beginning of February, is already fueling demand for new homes across the capital.

London House Hunters Are Being Helped To Buy With Countryside

Offering the opportunity for aspiring house buyers to find their feet on the property ladder and for buyers wanting to step up the ladder into a bigger home, the new scheme is proving to be extremely popular among house hunters at Countryside’s London developments.

Shailendra Chaudhari, who is currently renting at Countryside’s Greenwich Millennium Village development with his wife Samiksha, has now reserved a two bedroom apartment of their own at the development. Shailendra explains: “The scheme is perfect for people like my wife and I, as even though we both work hard, it is still extremely difficult to buy in London. We have spent a year searching for somewhere we can afford, but to no avail. The new scheme has meant that we are able to break out of renting and finally secure a two-bedroom flat within the same development we love and already call home. The only difference is now we know that we will be here long term!”

Aba Edwards-Idun (36), who reserved a one bedroom apartment at Countryside’s East City Point development in Canning Town using the Help to Buy scheme, comments: “For me, the scheme is the only way that I can get onto the property ladder in London. I am solicitor in the city so I probably earn slightly above average, but even with some help from my parents to get together a deposit, it was quite unrealistic for me to be able to buy a home without it. I didn’t want to move out of the capital, my parents live in Woolwich, I work in town and because I currently live in Bermondsey, that is where my social life is. East City Point is in a great location, it is very different to where I currently live but it has great travel connections, so I can still see my family and friends, and get to work easily.”

Mr Pani (36) registered his interest in the apartments at Countryside’s Brook Valley Gardens development in Chipping Barnet on the first day that the scheme launched, he explains: “I have a £15,000 deposit, but I’m priced out of Enfield, which is where I have grown up, and also anywhere close by. I have been waiting for the new scheme to launch, since it was announced in November and I’m glad it is finally here, as it means I’m a step closer to owning an apartment at Brook Valley Gardens.”             

Ian Sutcliffe, Group Chief Executive of Countryside, said: “There has been a very strong response to Help to Buy London. The new scheme’s popularity reflects the fact it makes home ownership in London much more attainable and supports buyers far better than the initial nationwide scheme was able to.”

To qualify for the new Help to Buy London, buyers need a deposit of 5% and a mortgage for up to 55% of the value of the home. The Government will then provide an equity loan of up to 40% of the property’s value, which is interest free for the first five years.

Countryside’s developments in London offering the London Help to Buy scheme include:

Greenwich Millennium Village

Located on the bank of the Thames, close to first-class transport links and amenities, Greenwich Millennium Village is an inspirational joint venture development by Countryside and Taylor Wimpey in association with the Mayor of London. It has been described as one of the most exciting and innovative residential neighbourhoods in Europe and is already attracting a wide international mix of buyers, as it continues to grow and flourish. The latest phase of cutting-edge one, two and three bedroom apartments is situated within a series of buildings with brightly coloured architectural details. Prices for the new phase of apartments start at £415,000 for a one bedroom apartment with Help to Buy.

East City Point, Canning Town

East City Point is a Housing Design award-winning development, which once complete, will provide 649 new homes. The development is located in the heart of Canning Town, where £3.7 billion has been invested into the ongoing regeneration of the area.

The Atrium Building at East City Point is a new landmark for Canning Town comprising an ultra-stylish selection of one, two and three bedroom contemporary apartments. Prices start from £422,500 for a two bedroom apartment in The Atrium Building with Help to Buy.

Brook Valley Gardens, Chipping Barnet

Inspired by the original garden suburbs of the early 20th century, and forming part of the regeneration of the former Dollis Valley Estate in Chipping Barnet, Brook Valley Gardens is a unique new housing scheme based on the principles of green open space, community, imaginative design and healthy living. Currently offering a range of three and four bedroom properties, Brook Valley Gardens will eventually provide over 600 new one to four bedroom homes. A range of one and two bedroom apartments will be released later this year.

Acton Gardens, W3

Countryside and L&Q’s development, Acton Gardens, is the regeneration of the former South Acton Estate, which over the next 10 years will evolve into a vibrant new urban village including 2,850 new homes around a series of parks, squares and communal gardens. One bedroom homes available from £380,000 close to excellent transport links.

St Paul’s Square, Bow E3

Located in one of the most vibrant parts of East London, St Paul’s Square offers a superb collection of one to four bedroom apartments. Working in partnership with Poplar HARCA, this new development from Countryside offers purchasers a chance to buy into the many benefits of Bow with its excellent transport links, vast range of local facilities and open green spaces. Now available, the homes within the Lansbury Heights building start from £420,000 for a one bedroom apartment.

Kings Park, Harold Wood RM3

Kings Park features an outstanding collection of luxury family houses and contemporary apartments, in an exceptional parkland setting. Just 35 minutes to central London from the adjoining Harold Wood station, which will benefit from Crossrail in 2018, Kings Park offers an outstanding lifestyle in an excellent location.  Two to four bedroom homes are available from £335,000.

For further information on Countryside’s forthcoming developments in London, visit www.countryside-properties.com.

Information correct at time of publication.

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