Londoners benefit from launch of Help to Buy at Harvard Gardens
There’s good news for first time buyers looking to purchase in Southwark: L&Q has just announced the Government’s Help to Buy equity loan will be available at a number of properties at its Harvard Gardens development. A contemporary collection of one and two-bedroom apartments and four-bedroom duplexes, Harvard Gardens is ideally situated in popular Elephant & Castle, London SE17.
Research has revealed that 86% of renters have less than a quarter of the deposit needed to buy an average first home. With average property prices in London almost double that of the rest of the country, many of the capital’s would-be buyers find themselves priced out of the market.
The launch of Help to Buy at the site means that buyers can proceed with a much smaller deposit, from as little as 5%, which the government will boost with a loan of up to 40% of the total cost of properties up to the value of £600,000. This effectively means the purchaser has a larger deposit to buy a home, as a mortgage for just 55% of the property value is then required.
Cathy Lloyd, Sales and Marketing Director at L&Q commented: “Getting on the property ladder is a massive challenge for first time buyers everywhere, but particularly in London, where prices are continuing to rise throughout the capital. Housing products like Help to Buy can be a real lifeline for buyers, enabling them to benefit from a home in Zone 2, which would otherwise be completely unaffordable – and therefore reap the rewards from increased equity in their homes in the future.”
All of the properties at Harvard Gardens enjoy a high quality, contemporary specification, including fully fitted kitchens and modern bathroom suites. The spacious, open-plan homes have been created to maximise light, with full-height access to a private balcony or terrace.
Harvard Gardens is located just 0.8 miles from Elephant & Castle’s superb Zone 1 transport links, with rail services from Elephant and Castle station including Bakerloo and Northern underground lines, offering easy journeys to Waterloo (4 minutes) and Bank (6 minutes), and City Thameslink trains to Blackfriars, Farringdon and St Pancras International. The area is also served by 33 bus routes within a five-minute walk from the station, eight of which are night buses.
In addition to great transport links, Harvard Gardens benefits from plenty of local amenities, including East Street market and Walworth Road’s shops, a Morrison’s superstore and the newly opened Castle Leisure centre, which features state-of-the-art facilities including a fully equipped gym, indoor cycle studio, sports courts and a six-lane swimming pool. For those who prefer the great outdoors, Burgess Park’s 56 acres offer something for everyone, with beautiful scenery around the lake, park café and a plethora of activities from fishing to cricket, and tennis to BMX riding.
Prices at Harvard Gardens start from £412,500 for a one-bedroom apartment, £540,000 for a two-bedroom apartment and £885,000 for a four-bedroom duplex. Selected units are available with Help to Buy. For more information, visit harvard-gardens.co.uk.
