First time buyers could leave rented accommodation years earlier at Castle Hill
Data from Nationwide suggests that the average deposit for first-time buyers in London is now above £80,000 and takes some penny-pinching eight years to save. But, would-be homeowners could leave rented accommodation years earlier, and maintain fast links to London, at Castle Hill in Ebbsfleet, Kent, thanks to Help to Buy and the new stamp duty rules.
With Help to Buy available at Castle Hill, first-time buyers could grab the first rung of the property ladder with just a 5% deposit. It means that a one-bedroom, ground-floor apartment, available for £227,000, could be secured with a deposit of £11,350. Additional savings can be made on stamp duty. In November, Chancellor Phillip Hammond abolished stamp duty for first-time buyers on homes costing less than £300,000, this represents a saving of £2,040 in stamp duty on the same property.
Natalie Perry, Director of Sales & Marketing at Barratt Kent says: “We’ve experienced high demand for our apartments at Castle Hill and now just a handful of one- and two-bedroom homes remain available in James House. The exciting new neighbourhood that’s being created, with its excellent links to London, has proved to be a magnet for canny first-time buyers who realise that a London address isn’t always worth the wait.”
When complete, Castle Hill will comprise over 6,500 new homes with amenities that include shops, bars, restaurants and leisure facilities. In addition to outdoor-events space for community use, there will be parks, tennis courts, play areas and allotments.
This part of north Kent is set to be transformed by a vibrant new commercial centre at Ebbsfleet Central, seven city parks and the first waterfront promenade walks along this stretch of the River Thames for over a century.
The remaining apartments in James House, Castle Hill, are well placed for the unrivalled Kent Thameside transport network. The homes are a short walk from the FastTrack bus service stop, which connects residents with Ebbsfleet International Station, about two miles away. From there, London St Pancras International can be reached in 17 minutes and, with the last train home from London at just after midnight, buyers needn’t give up their capital social life when they relocate.
By road, the M25 is within easy reach and Bluewater Shopping Centre is less than four miles away from Castle Hill, offering extensive selection of shops and restaurants in addition to a 17-screen cinema and trampoline park. Meanwhile, Dartford, with its traditional farmers' market selling fresh produce from the Kent countryside, is within seven miles.
Prices start at £227,000 for a one-bedroom ground-floor apartment and £275,000 for a two-bedroom apartment, with Help to Buy available. To register your interest, visit barratthomes.co.uk/new-homes/kent/H711001-Castle-Hill/
