Singles in the city could benefit from shared ownership
Young single professionals are increasingly keen to set up home on their own, especially those working in London, according to research carried out by Lloyds TSB Insurance.
However, as the recession continues to take its toll, first time buyers are being left with little chance to invest in their own singles pad. Notting Hill Home Ownership is catering to the needs of these buyers, by offering a selection of stylish yet affordable, one-bedroom shared ownership homes at Roxeth Corner in North West London.
As the cost of setting up home on your own becomes further out of reach, shared ownership is seen by many singles as the lifeline to home ownership, not only for first-time buyers desperate to get on the property ladder, but also middle-income young professionals, who are finding it impossible to get a mortgage.
Located in Harrow, North London, Roxeth Corner is a newly built development by Mizen, which offers first-time buyers a home with both class and character in a prosperous and diverse metropolitan borough. The scheme comprises a total of 27 apartments, of which eight were being marketed for shared ownership through Notting Hill Home Ownership.
Mark Vaughan, Director of Home Ownership for Notting Hill Housing comments: “Situated only ten miles from central London yet on the border of rural Hertfordshire, Harrow provides an excellent base for single young professionals looking to set up home in a green and leafy retreat from inner city London, yet with all the everyday essentials and amenities they could ask for right on their doorstep. Roxeth Corner offers a specification that is both stylish and contemporary, whilst providing practical and adaptable living standards at affordable prices.”
The development features glazed private balconies, terracotta cladding and stow render which gives it a striking external appearance, while the impressive internal features make each apartment a home to be proud of.
Each contemporary apartment benefits from ceramic floor tiles in the kitchens and bathrooms, Swiss Plank Platinum Oakwood effect laminate flooring in the living/dining room and hallway as well as carpeted bedrooms. Kitchens are fully fitted and come complete with all mod cons including a stainless steel oven, hob and integrated extractor hood. Sky + points are available in the living area and for added security the apartments benefit from an audio door entry system.
Situated on the borders of leafy Hertfordshire, Harrow boasts more than 50 different park areas, with 25 per cent of the borough made up of open greenbelt space. In addition to the many playgrounds offered, the parks are set up for a range of recreational activities including walking, cycling, tennis, football, rugby, and bowls. The area is also home to a variety of woodlands and golf courses, not to mention many health clubs and leisure centres.
For those looking to socialise and shop there's no need to brave the crowds and congestion of central London, as there is such a wide variety of entertainment to enjoy in Harrow. St Ann’s and St George’s shopping centres are the key attractions and there are many community facilities, bars and international restaurants offering authentic Southern Italian, Afghan or Asian cuisine.
Harrow benefits from great transport links. Located in London travelcard zone five Roxeth Corner is well connected by bus, rail or tube, with the nearest tube station being South Harrow on the Piccadilly line providing direct services to Kings Cross. Harrow is also easily accessible by car from the M25 and the M1 and Heathrow Airport is less than 15 miles away.
Roxeth Corner is available to purchase through shared ownership (New Build HomeBuy). To qualify, you must live or work in any London borough but priority will go to existing Harrow residents, existing Harrow council or housing association tenants, those in high priority need on Harrow councils housing register and key workers living or working in the area.
You must also be earning from £27,500 (single applicant) or from £33,000 (joint applicants). Applicants will also need access to £3,000 to cover the cost of buying the home plus a 10-15% deposit on the share they are buying.
Purchasers looking to buy at the development have the opportunity to buy an affordable share of between 50% and 75% of the property’s full value and pay a subsidised rent on the remainder, with the option to purchase additional shares later. Prices for the last remaining one-bedroom homes which are at full market value, start at £165,000. Shares will be available to purchase between 50% and 75% meaning that you can move in for just £82,500.
For further information visit nottinghillhousing.org.uk/roxeth.
