Homes and Property looks at Greenland Place – a “Zone 2 hotspot”.
London Evening Standard property correspondent, David Spittles, looks at how Help to Buy has enabled first time buyers “to get on the ladder” in the latest “hotspot Deptford”. Barratt London’s Deptford development, Greenland Place, has been hugely successful with first-time buyers – 68% of all apartments sold in Helsinki Court have been through Help to Buy.
Deptford is a London Help to Buy “Zone 2 hotspot”, with “40 per cent of first-time buyers” taking advantage of the initiative, states Spittles. He goes on to say: “Help to Buy is proving to be a fairy godmother for many Londoners”. Thanks to the interest-free equity loan on offer in London, doubling to 40% of a home’s value in February this year, many young buyers now have a chance to buy in central London locations. Spittles explains that under the scheme “buyers need just five per cent of the purchase price and only require a mortgage for 55 per cent”.
He recommends you “start your search in Zone 2, where it is still possible to find good-value pockets of the inner city, some very much on the up”. Deptford, where Greenland Place is located, has “usurped Dalston as the capital’s hippest postcode – SE8”. Deptford holds appeal with “a traditional high street and enviably quick transport connections to central London and Docklands”.
Spittles mentions that “Greenland Place is [a] Deptford scheme where Help to Buy is available”. Greenland Place is located just a few minutes’ walk from the historic Greenland Dock and Surrey Quays station, providing excellent links to the City and central London. From Surrey Quays station, Bank is just 13 minutes away and London Bridge only six minutes. For City workers, the riverboat from Greenland Pier reached Canary Wharf in a mere 4 minutes.
Follow the link to read the full London Help to Buy: Zone 2 hotspot Deptford leads the way as 40 per cent of first-time buyers use low-deposit scheme to get on the ladder on homesandproperty.co.uk