Better buys in Basildon for commuters

According to research by Lloyds TSB, it pays to commute into London, particularly from Basildon where rail commuters benefit from an average house price 50% lower than living in the capital, but with a rail journey of only 30 minutes.

The research found that the average house price in Basildon of £170,586, which is £385,000 (or 226%) lower than the average in zones 1 and 2. In comparison, the average annual rail cost from Basildon is £2,440.

At Kings Meadow in Basildon, Family Mosaic has launched a new development of one and two bedroom apartments which are available through shared ownership. Prices start from £42,875 for a 35% share of a one bedroom apartment with a full market value of £122,500, based on a minimum single income of £18,893.

Lauren Nicholson, Head of Marketing at Family Mosaic comments: “Basildon is the perfect place for commuters looking to escape the cost of living in the city with only a 30 minute commute. We hope the apartments at Kings Meadow will encourage first time buyers looking for an affordable home to come and take a look at what Basildon has to offer.”

Buying under shared ownership allows purchasers to buy the share of their home that they can afford (at least 35%), and pay a subsidised rent on the remaining share of the property. They can increase their share at any time, right up to 100%.

Available in a range of layouts to suit purchaser’s needs, the apartments include open plan living and dining areas that are perfect for modern living. Finished to a high specification, the ground floor apartments include paved terraces with many of the apartments on the upper floors featuring Juliet balconies.

Located on King Edward Road, Kings Meadow is within a short drive of both Laindon and Basildon train stations, which both offer a regular service to London Fenchurch Street station. From there commuters can travel by the Circle and District Lines from Tower Hill underground station which is only 200metres away or via the DLR from Tower Gateway. Basildon also has access to the City via road, on the A127, and A13.

Apartments are available to anyone who does not already own a property and is unable to buy a home on the open market. Their total household income must be less than £60,000 per annum. Ideally they should also have savings of around £3,500 to cover moving and legal costs.

For further information, visit familymosaicsales.co.uk.