According to recent figures released by the Ministry of Housing, Communities and Local Government, the average age of a first-time buyer with the Help to Buy scheme is 27, compared to their counterparts who have not opted to use the scheme, who buy their first property aged 30[i]. Ideal for first time buyers looking to get on the property ladder sooner rather than later in the capital, L&Q is offering prospective homebuyers the chance to purchase a home at New Union Wharf on the Isle of Dogs, with London Help to Buy.
Under the popular scheme, which has been used to purchase nearly 170,000 homes in the last five years, the vast majority of which (81%) has been by first-time buyers, the Government lends London homebuyers up to 40% of the cost of a newly built home.
This translates to prospective property purchasers requiring only a 5% deposit, with a 75% mortgage to make up the rest. Purchasers will not be charged loan fees on the 40% for the first five years of owning their home and in the UK, saving homebuyers on average £15,981 on their purchase.
Gavin Stewart Sales & Customer Services Director for L&Q’s East Region, comments: “New Union Wharf has something for everyone. Undoubtedly, house prices in London have soared in recent years, but at New Union Wharf we are offering more affordable ways to buy. There are one and two-bedroom properties available through private sale and with the assistance of Help to Buy. We holding a Help to Buy Open Day on 22nd and 23rd of September for prospective buyers to come along and meet a financial advisor and view our selection of homes.”
The development features a pattern of terraces and blocks around wide streets and landscaped gardens, shaping an environment built around the old East End neighbourhoods. There is something for everyone at New Union Wharf; while the low-rise homes benefit from private gardens with street frontages inspired by the mews of west London, the higher rise apartments that overlook the River Thames are contemporary in their design, with floor to ceiling windows that flood the apartments with an abundance of natural light throughout the year.
Open plan kitchens and living areas are contemporary and create an airy and bright interior, ideal for entertaining guests. Kitchens feature Siemens integrated appliances, including an electric oven, hob, fridge freezer and microwave, as well as a free-standing washer and dryer. Two-bedroom apartments provide en suites to the master bedroom and all bathrooms feature light grey porcelain tiled flooring and a tiled bath and shower wall. Residents have access to a video door entry phone, whilst CCTV operates for residents’ security.
Carefully nestled in one of the River Thames’s most impressive meanders, New Union Wharf is situated in an area where tradition meets innovation; The Isle of Dogs, E14. A highly sought-after location, residents will find themselves part of a wider, vibrant community, where they will never be left short of things to do or places to explore. Whether taking a stroll along Riverside Walk, visiting Europe’s largest shopping centre, Stratford City Westfield, or exploring the creative streets of Hackney of Soho – New Union Wharf’s E14 postcode entrenches its position as one of East London’s most characterful areas.
Living within an enclave of interconnectivity, those who choose to make New Union Wharf their home will enjoy the benefits of living within a Zone 2 district. Under half a mile away, Crossharbour DLR station is just a seven-minute walk away from the development, with connections to the Central Bank DLR, served by Central, Northern and Waterloo & City Lines. In addition, only one mile away from New Union Wharf is Canary Wharf Station, with its Jubilee Line connections that will take you to London Bridge or Stratford in under ten minutes. The introduction of Crossrail in autumn 2019 will further improve links in and around the capital.
Prices for a one-bedroom apartment at New Union Wharf start at £414,750, with two-bedroom apartments starting at £535,500, and three-bedroom apartments starting at £609, 000. The London Help to Buy equity loan scheme is also available on selected homes.
A Help to Buy Open Weekend will be held on 10am-5pm on 21st and 22nd September and 10am-4pm on 23rd September. To attend this event, view the show homes and speak to a financial advisor, book an appointment by calling 0333 234 1167.
For more information visit newunionwharf.co.uk.
For more press information, contact Rebecca Henderson at Oracle PR on 020 8394 2821 or [email protected].