‘Now's the time to buy’ says graduate in Watford

Julie White (23), a graduate working at Barratt North London's offices in Watford, didn't think she and her boyfriend Michael Vine (25), who are currently renting a one-bedroom house, would be able to afford to buy their own home for a long time.

However, when they heard about the MyChoiceHomeBuy scheme, they lost no time in applying and have just bought a new two-bedroom apartment, with two bathrooms, at Barratt's Willow Grange development in Church Road, Watford.

Julie says: "We wanted to stay in Watford but felt we wouldn't be able to scrape together the deposit and find enough money for large monthly mortgage repayments. We knew we were throwing our money away on rented accommodation but until now, thought we had no choice. However, the falling property prices, recent interest rate cuts and the MyChoiceHomeBuy deal all came together for us and we realised it was now or never. We decided to go for it and would urge others to look again at new developments; there are some great opportunities where owning your own home is more affordable than you might think."

MyChoiceHomeBuy is a Government-supported scheme aimed at people with a household income of between £20,000 and £60,000, but who have no deposit. The buyer takes out a regular mortgage and the balance, up to a maximum of 50 per cent, is provided through MyChoiceHomeBuy as an equity share loan, at a low monthly interest charge of just 1.75 per cent.

Willow Grange is an attractive gated scheme, located in a tranquil and leafy area north of Watford town centre. It comprises a substantial office building with Victorian origins which is being converted, and a variety of newly-built homes, within beautiful mature parkland grounds of 4.8 acres.

The interior specification is superb. Beautifully designed fitted kitchens have a range of modern integrated appliances and most master bedrooms have stylish en suite bathrooms. The apartments have an entry phone system and the converted apartments will have lift facilities. The scheme also has its own gym and allocated parking.

Julie has been on Barratt's graduate scheme for over a year, moving from department to department to gain a full understanding of the housebuilding industry; she has chosen to specialise in sales, so knows a good deal when she sees one.

Julie adds: "We opted for a mortgage to cover 60 per cent of the price and have taken up the MyChoiceHomeBuy equity share loan for the remaining 40 per cent; this has made all the difference for us, allowing us to buy a really gorgeous home at a price we can afford. We bought our apartment off-plan and are looking forward to moving in next spring."

Willow Grange couldn't be more conveniently located for Julie; her drive to work will take her around 15 minutes. Michael works as a recruitment consultant in St Albans; he will be able to walk to the Watford Junction train station in less than ten minutes, his train journey to work will take just 20 minutes.

Julie says: "We'll have much more space in our new apartment than we do now and will enjoy entertaining our family and friends in our own home. We'll also make good use of the gym on site. We've got excellent facilities nearby, including the Harlequin centre, which is good for shopping, and a choice of restaurants and bars. We can't wait to move; Willow Grange will be ideal for us."

The centre of Watford is around a mile away, offering easy access to the M1 and M25. Watford Junction railway station lies approximately half a mile to the south of the development and provides direct access to London Euston with a journey time of around 20 minutes. Watford Underground station, around a mile away, is located on the Metropolitan Line. There are also direct bus links to Heathrow Airport.

Prices at Willow Grange start at £177,500 for a one-bedroom apartment, £215,000 for a two-bedroom apartment and £425,000 for a four-bedroom house. For further information on MyChoiceHomeBuy and other special incentives available, log on to Barratthomes.co.uk.