Get out of the ‘rent trap’ with Catford Green

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Affordable schemes at Catford Green makes owning your first home possible.

First Time Buyer magazine enlightens prospective buyers on “affordable ways to get on the property ladder sooner, rather than later”. With schemes such as Help to Buy and shared ownership (through Peabody) available at Barratt London’s Catford Green development, owning your own home is possible for young Londoners.

Research from the Centre for Economic and Business Research shows the “average first time buyer [is] 31” and that those “buying a home this year will have already spent an average of…£68,300” on rent in London. With demand for rental properties being so high, “this is pushing up rents in the capital”. A survey from “Lloyds Bank has also revealed that first time buyers in the UK are on average £865 a year better off owning a home than they are renting”.

First Time Buyer magazine explains that “help is at hand” with schemes such as Help to Buy and shared ownership. Both schemes mean that “buyers will need a significantly lower deposit and monthly repayments are also far more manageable”.

Catford Green is an attractive new development located in an exciting area of south London undergoing extensive regeneration. Comprising one, two and three-bedroom apartments, most with a balcony or terrace. The first phase was extremely popular and sold-out in eight months, proving particularly interesting to first-time buyers. First Time Buyer magazine interviewed one such purchaser, Matthew Francis, who purchased at Catford Green using the shared ownership scheme available through Barratt London’s housing association partner, Peabody. He commented: “in addition to its fantastic transport links, Catford has a community feel”.

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