New homes for first time buyers in Barking
A new housing development aimed at helping first time buyers in London to get on the property ladder has been officially opened by Margaret Hodge.
The Barking MP cut the ribbon to unveil the new homes at Fusion London, a development of 44 one and two bedroom shared ownership apartments from affordable housing provider Home Group.
Margaret Hodge said: “It is a pleasure to attend the opening of Fusion London’s new shared ownership homes. I am delighted that much needed homes are being built in the Borough. These shared ownership homes are great news for young people in the Borough. Residents now have a more affordable opportunity to get on to the tough housing ladder.”
Shared ownership makes buying a home easier for people who are struggling to raise a deposit or unable to afford to buy outright. It is a good option for young couples and single people and involves buying a percentage of the property and paying a rent on the remaining share. Buyers can often secure a property with a deposit of just 5%.
Brian Ham, Home Group executive director of enterprise and development, said: “We’d like to thank Margaret Hodge for officially opening Fusion London. Nowadays it’s more and more difficult for young people to own their own home particularly in London. These shared ownership apartments are part of our ongoing commitment to support them and we look forward to welcoming potential buyers to Fusion London.”
Designed to a high specification, the apartments feature modern fully fitted kitchen with integrated appliances, stainless steel oven and hob, carpets and laminate flooring, bathrooms with chrome-finish electric heated towel rails, energy efficient features and a NHBC 12 year building warranty. Allocated parking is also available.
Another perk is the location, just half a mile from Barking station, with journey times into London of less than 30 minutes, making them a good choice for city commuters.
Prices start from just £51,625 based on a 35% share of a 1 bedroom apartment valued from £147,500.
Members of the public can view the show home at an open day on Saturday 1st November at 5 Loxford Road, Barking IG11 8BU.
The properties are available to buy now and can be viewed online at buyahomehg.com.
