Shared equity gets buyers moving in Hertfordshire

First time buyers struggling to move onto the property ladder have been given a helping hand by award-winning developer Dandara with the launch of a new shared equity scheme.

The scheme, available exclusively to first-time buyers at Image, the former Kodak Tower in Hemel Hempstead, allows buyers to own 100 per cent of their new home for only 80% of the value for 10 years, meaning purchasers of a one-bedroom apartment would only need to make an initial payment of just £132,000.

Eligible purchasers can buy a brand new apartment and benefit from a 20 per cent, interest-free loan with the option of repaying the loan within 10 years. Buyers only need a five per cent deposit, rather than the usual 20 per cent required by most lenders, making it far easier for first-time buyers to reserve their dream home.

Michelle Harris, UK South Sales Director for Dandara Ltd comments: “Our shared equity scheme has been designed with first time buyers in mind to offer them an easier way of purchasing a brand new home. With only a five per cent deposit needed, we are removing the barriers to most first-time buyers and trying to give them the helping hand that is needed to get onto the property ladder.”

The KD Tower is an iconic landmark in the area and is Hemel Hempstead’s tallest building comprising 254 one and two-bedroom apartments and penthouses. The development will also feature landscaped gardens, a public art installation, relaxing water feature and a range of shops and office accommodation.

All apartments at Image benefit from luxury interiors and high specification finishes in all bathrooms and living areas. Stylish downlighters in the bathrooms combine with white contemporary sanitaryware and Hansgrohe fitting and in the kitchens and living areas high specification appliances and spacious interiors promote natural light throughout the apartments.

Video door entry systems, passenger lifts to all floors and a concierge service demonstrates the modern lifestyle on offer and centred round a communal landscaped piazza, a newly constructed footbridge will link the piazza to the brand new Riverside shopping centre.

Centrally located, Image is at the heart of Hemel Hempstead, located a few minutes from Riverside shopping centre and Hemel Hempstead railway station, where regular trains to London Euston take under 30 minutes. Residents at Image will also benefit from a car club and a peak hours bus service to Hemel Hempstead station for the exclusive use of Image’s residents.

Apartments at the KD Tower start from £165,000. For further information visit: livetheimage.com