You can get on the property ladder for under £10,000
Genesis is offering first time buyers the opportunity to get on the property ladder with a deposit of £9,950 at its New Hendon Village development in Colindale.
According to research by Barclays , saving for a first home is much harder than it was in the property boom of the mid-1990s. New buyers have to wait eight years to buy their first home and a substantial proportion of them will get financial help from their family. Based on average house prices in the UK, someone buying their first home will need to find a deposit of just over £31,000.
At New Hendon Village, with the FirstBuy scheme, you can buy 100% of your new home but only pay for 80% initially. On a purchase price of £199,000 for a one bedroom apartment, you need to find a 5% deposit of £9,950, arrange a mortgage for £149,250 and the balance of £39,800 will be provided in the form of an equity loan.
To qualify for FirstBuy, the applicant’s household income must be less than £60,000 a year and they must be unable to finance a property in the area where they currently live or work.
The Tower offers a peaceful living environment but at the same time is within easy commuting distance of central London. Currently available are two 1-bedroom and seven 2-bedroom apartments, with prices starting at £199,000 for a one bedroom apartment.
The Tower is a handsome seven-storey building standing proudly at the head of Heybourne Park, a great sweep of wonderfully restored parkland complete with tree-lined avenues, ornamental lakes and a wildlife pond that provides a setting unrivalled in this part of London. All of its apartments have at least one large balcony or terrace, many looking out onto the parkland. And interiors make the most of the views, with full-height glazing in the living areas.
New Hendon Village provides all you need for a gracious yet convenient lifestyle, with space being the keyword for these apartments. The two-bedroom apartments have an en-suite shower room to the master bedroom, and all properties include generous built-in storage.
Most have well proportioned open-plan kitchen/living rooms; in others the kitchen is separated from the living space, providing a great choice of practical layouts.
The same high-spec finish and thoughtful design is evident throughout, with the floor-to-ceiling windows creating bright and elegant interiors. Sleek and modern kitchens feature solid granite worktops with ‘Roman cherry’ units, contrasting white walls, and come complete with a stainless steel oven and hob and an integrated extractor fan. Bathrooms have steel baths and sleek chrome fittings.
Open space is the major feature outside. In addition to New Hendon Village’s own parkland, the 250 acres of Fryent Country Park, a rural paradise of conserved meadows, woodland and ponds, are nearby, while the 790-acre Hampstead Heath, is just 12 minutes away from nearby Colindale Underground Station. For travel by car, the M1 is nearby for access to Milton Keynes, Nottingham, Sheffield and Leeds, while Heathrow and Luton airports are just 37 minutes away.
New Hendon Village is part of Barnet’s ongoing regeneration, with excellent retail, social and transport facilities helping to make this part of north London the place to live in the capital. New cafes, restaurants and bars are creating a lively, cosmopolitan atmosphere.
For further information visit the Marketing Suite open Thursday-Monday 9am-4pm (SatNav NW9 5FN). Please note the marketing suite is closed on Tuesday and Wednesday.
