First time buying the traditional way

Despite fewer mortgage products on the market and reports that house prices are still out of reach of many first time buyers, there are those who are still extremely keen to buy, and through saving hard and waiting for the right property to come along, are reaping the rewards.

Beverley Chappell and her boyfriend, David Thomas, saved for two years in order to have the deposit to buy an apartment at The Quadrangle, a part new, part refurbished development in Battersea, south west London, and in doing so, secured their perfect apartment.

Beverley, a 26 year old accountant, explains: “We had been renting in Battersea and wanted to buy in the area; I work in Chelsea whilst my boyfriend works in Heathrow, so it’s a convenient commute for us both and we really like it here. We saved for over two years, cutting down on going out, holidays and buying new things, and managed to secure a 95% mortgage.

“We viewed several properties, mainly looking at Victorian terraces, but when we saw The Quadrangle, we knew it was the place for us. We loved the location, so close to Battersea Park, a ten minute walk from the Kings Road and near to the excellent transport links which we have become used to.

“We bought a flat in the refurbished side of the development. It’s full of character and has a lovely feel to it; we like the open plan layout and the high standard fixtures and fittings, as well as the balcony which means we have private outside space. Another huge benefit is the secure underground car park - security is important to me, especially if I’m coming home alone at night, and most properties we viewed didn’t have allocated parking let alone an underground car park.

“We knew that we would be paying a premium for a brand new flat, but it’s worth it knowing we’re the first ones to live here and won’t have to do any work to the property because it comes with everything we need. We also felt that we would be more likely to incur unforeseen costs for repairs with an older property.

“Although The Quadrangle is not necessarily cheap for a first time buyer, we are seeing it as a great investment, it’s in a fabulous location, and we are confident that it will increase in value in the future. We can’t quite afford to furnish our flat yet, we are literally moving in with a bed and some beanbags, but it’s worth it to have our own place that we love; if we could have described our perfect first flat this would have been it.”

The Quadrangle is a part new build, part refurbished scheme of one, two and three bedroom apartments and penthouses built around a secure private courtyard. Most apartments have a balcony or terrace so that the view over the communal gardens can be enjoyed, whilst the penthouse apartments in the new building feature vast terraces and private roof gardens. The converted building also benefits from a large communal roof terrace.

Inside, apartments offer a variety of sizes and layouts and incorporate floor to ceiling glazing to give a light and airy feel. The loft-style apartments in the converted building have high ceilings and large warehouse style windows. Each apartment includes designer specification such as Pedini Italian kitchens with integrated appliances. Bathrooms and ensuites include limestone floors and high quality sanitary ware.

The Quadrangle is ideally located to benefit from the tranquillity of Battersea Park and the river, and is close to Battersea Park and Queens Town Road stations for easy access to central London.

Emma Hanks from selling agent, Douglas & Gordon, adds: “It is hard for first time buyers to get on the ladder, but for those who can, The Quadrangle is a great investment. With prices around £550-£700 per sq ft, it is much cheaper than its neighbour, Chelsea at around £900 - £1,000 per sq ft, yet Chelsea is just a few minutes away. With beautifully designed and fitted apartments, secure underground parking and excellent transport links, it offers everything a young professional would want.”

Prices at The Quadrangle start from £362,500 for a one bedroom apartment, from £499,950 for a two bedroom apartment and from £650,000 for a three bedroom apartment.

For further information log on to Quadranglebattersea.co.uk.