Homes and Property interviews a happy Help to Buy homeowner at Barratt London’s New South Quarter (NSQ).
The London Evening Standard’s property correspondent, David Spittles, picks “the best developments for London Buyers”. He interviews George Hafiz, 23, who used Help to Buy to purchase his first home, a one-bedroom apartment with a terrace, at Barratt London’s New South Quarter (NSQ) development in Croydon.
Spittles says “developers and lenders are getting behind the Help to Buy scheme… while London’s cash-strapped first-timers are making the most of the 5% deposit”. George bought his NSQ apartment off plan and was able to secure it with assistance from the Help to Buy scheme. George commented: “I’ve had a job since I was 16 and had managed to save £40,000. But it wouldn’t have been possible without Help to Buy”.
Spittles explains that “Without Help to Buy, a first-time buyer in London typically would need a deposit of about £90,000, whereas under the scheme, buyers need to have a deposit of five per cent of the purchase price”. He advises to “start your search just beyond the congestion charge zone, where it is still possible to find good-value pockets”, in areas such as Croydon, which “has excellent train links to central London”.
George was attracted to Barratt London’s NSQ development because of the value for money and excellent transport links. Wandle Park station, which connects to both Wimbledon and the main line train station in East Croydon, is only a five minute walk from the development. He goes on to say, “previously, I lived in a shared house in Guildford. Having my own place has really improved my quality of life”.
NSQ is located in an appealing position adjacent to the River Wandle. Each of the apartments at NSQ has either a balcony or terrace, from which many residents will be able to enjoy the peaceful river views.
Wandle Park which has recently has a £3.8m restoration, part funded by Barratt London, has a bandstand, children’s playground, formal gardens, a pond and a pavilion as well as a skatepark. In 2018, the new Westfield shopping centre will open as part of Croydon town centre's £1bn regeneration project.
Follow the link to read the full Help to Buy in London: the key facts and the best-value areas to buy article on homesandproperty.co.uk