Beat rising house prices and buy your first home with a friend
With London property prices set to increase by up to 21% over the next four years , this could be the perfect time for pals to pool their resources and get on the property ladder together.
Family Mosaic’s flagship shared ownership development at Skylon, New Festival Quarter, E14, offers spacious accommodation and could provide the perfect opportunity for people who want to share costs and fund their first home jointly.
These stylish two bedroom apartments are designed for 21st Century living, with impressive views towards Canary Wharf and excellent transport links. Interiors are finished to a high standard, with sleek contemporary kitchens including fully integrated Zanussi appliances, stylish white bathroom suites and oak finish timber flooring. All of the apartments feature generous external spaces in the form of balconies and for peace of mind each home is fitted with a video entryphone system.
Consideration for the environment is taken into account with energy efficient heating and lighting, meaning lower utility bills for homeowners. Prices start from £114,625 for a 35% share, based on a full market value of £327,500, requiring a minimum joint income of £48,820.
Lauren Nicholson, Head of Marketing at Family Mosaic, comments: “Buying together through shared ownership offers the ideal solution for people who are struggling to get on the housing ladder in London and can often result in considerably lower monthly costs than renting privately.”
This is a great time to buy in this part of East London, due to the extensive regeneration which is taking place, bringing state-of-the-art facilities to the area.
Set across four buildings, New Festival Quarter is designed as a truly contemporary new community that echoes some of the ‘Festival of Britain’ architecture of the former Lansbury Estate where it is situated. There is a range of on-site amenities including a 24-hour concierge, private gym and residents’ roof garden. Within a short walk of Langdon Park and All Saints stations on the DLR from where it is just seven minutes to Canary Wharf and nine minutes to Stratford, making it an ideal commuting base.
New Festival Quarter is ideally located for shopping, nightlife and leisure time. Locally Chrisp Street Market offers an array of fresh produce, while further afield Westfield Stratford City, Europe’s largest urban shopping centre, is a shopper’s paradise. For something more relaxing, green open spaces of Bartlett Park are on the doorstep.
Buying under shared ownership at New Festival Quarter 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%.
For further information, visit familymosaicsales.co.uk.
