New homes in Islington for under £5,000 deposit

Family Mosaic is offering purchasers the opportunity to secure a brand new apartment with a deposit of under £5,000. Desirability and affordability go hand-in-hand at Market Green, a brand new collection of shared ownership apartments in N7. This sleek, chic development sits between Islington and Camden, two of the trendiest and most aspirational areas in London, all of which can now be within reach for London’s first time buyers.

According to financial website thisismoney.co.uk , the number of first time buyers is increasing but so are prices, with the cost of first homes in the capital now averaging £237,600, requiring a deposit of £59,400.

Lauren Nicholson, Head of Marketing at Family Mosaic, comments: ‘It’s rare for hard-pressed homebuyers to be able to consider buying in central London these days, let alone in an area as desirable as Islington. We want to prove that an aspirational location need not be beyond reach, and Market Green is the perfect example of our refusal to compromise on style, location and affordability. We do not believe that affordable housing should mean settling for second-best; the apartments at Market Green would be highly desirable for any buyer looking in London’s trendiest area.’

Market Green comprises 16 two-bedroom and 11 one-bedroom homes, all with open-plan kitchen/living room and a beautifully appointed bathroom. The properties offer all the style that is commonly associated with this fashionable area of North London, at prices that are certainly not. The average price of a two-bedroom property in London N7 is £435,993 . At Market Green, you can move in for just £90,750 on 30% part-ownership of a two bedroom apartment worth £302,500.

The residents of Market Green will not just be buying an enviable address; they’ll also be investing in style and quality both inside and outside their new home. Kitchens come complete with fitted Zanussi appliances, including a fan oven/grill, ceramic hob, washer/dryer and fridge/freezer, which will make moving in even more affordable. The living areas are fitted with high-quality oak laminate flooring, while the bedrooms have 80%-wool carpets throughout. With sleek white suites and a heated chrome towel rail, the bathrooms combine luxury and practicality.

An enviable city lifestyle is right on the doorstep, with the world-renowned Almeida Theatre and the famed restaurants and nightlife of this most cosmopolitan of London enclaves within walking distance. By day, the area buzzes with vibrant markets and unique shops while from nearby Caledonian Road tube station the Piccadilly Line whisks you to the excitement of the West End in minutes. One stop on is King’s Cross, with its mainline and international services providing swift access to the North and mainland Europe. A comprehensive choice of bus routes at the top of Market Road serves all the prime central London destinations, from Trafalgar Square to London Bridge; so wherever you want to work or play, Market Green is the ideal base.

But even the most dedicated urbanite needs some respite, and Market Green is perfectly placed for open-air relaxation. The green expanses of Caledonian Park — 10 acres of grass and woodland — is just up the road, while Market Road Gardens lie directly opposite the development.

One-bedroom apartments are priced at £84,300–£89,400. Two-bedroom apartments are available from £90,750 to £115,350. These low prices are calculated at 30% of the full market values of £281,000–£384,500. That’s because the apartments are available under shared ownership, which allows purchasers to buy a minimum 30% share of the home and pay a subsidised rent on the remaining share of the property. Buyers can increase their share at any time, all the way to up 100%.

The great advantage of shared ownership is that buyers need find a much smaller deposit than if they were paying the full value — a crucial difference in these days of tight lending. Applications for the shared-ownership scheme will be considered from households earning less than £66,000 per year; priority will be given to those living or working in the London Borough of Islington.

For further information, visit familymosaicsales.co.uk.