First-time buyers - Baby, look at us now 20-PAGE SUMMER SPECIAL - Homes and Property
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First-time
buyers
20-PAGE
SUMMER SPECIAL
HELP TO BUY: HOW IT
WORKS
Page 4
PERIOD HOMES VS NEW
Page 10
CUT THE COST OF BUYING
Page 16
Baby, look
at us now
Our move was perfect timing JULIET MURPHY
Page 15
EVENING STANDARD THURSDAY 26 JULY 2018 3
Help to Buy | Homes Property
Help to Buy
Hot
tip
to the rescue
Thousands of young Londoners are
grabbing the low-deposit lifeline to buy
their first home. By Ruth Bloomfield
OULD-BE home. So that is the problem:
W homeowners could mortgage repayments may be less
U+I GROUP/DIANE AUCKLAND
well find themselves than rent but scraping together a
significantly better deposit can appear impossible.
off by climbing on to The Government’s answer to this
the property ladder rather than predicament is Help to Buy, and over
renting a home for years on end. the past five years the scheme —
A recent study found Londoners which cuts deposit requirements
would save more than £2,250 a year if down to five per cent — has helped
they bought a property rather than about 18,000 Londoners buy a home,
renting something very similar. spending an average of just over Exciting location: Deptford Market Yard, with shops, cafés and market space in revamped railway arches
Of course, that is easier said than £450,000.
done. Getting on the ladder, without a It has all been encouraged by
massive boost from the Bank of Mum
and Dad, has never been so tough.
developers who find Help to Buy
helps them shift more properties in
WHERE TO START YOUR SEARCH
It is estimated that a young first- the capital’s slow and jittery market. Deptford has an amazing past and a bright future
time buyer going it alone would take If you are looking for a Help to Buy
about 17 years to save enough cash to scheme, here, over three pages, are THERE are currently almost 250 different London £510,000, which means finding a £25,500
put down a 15 per cent deposit on a our tips on the areas to search... developments where you can take advantage of deposit, taking a £204,000 Government loan,
Help to Buy, which means that now is a great plus a £280,500 mortgage.
time to start house-hunting. ⬤ For information see: anthology.london/
From the cute shops and cafés set up under the developments/deptford-foundry
ONE-STOP SHOP arches of its station to its smartening-up high
for Help to Buy street, Deptford in south-east London is
becoming an increasingly exciting location — and
A NEW website launched this extremely handy for Canary Wharf just across the
summer by Mayor of London Sadiq Thames.
Khan will help buyers find an First-time buyers could pick up a home there
affordable home. with a deposit of less than £20,000 — the average
The site is London.gov.uk/homes deposit a London first-time buyer normally pays is
and it gives details of almost 250 about £90,000.
developments around the capital When complete, the Anthology Deptford
where Help to Buy is on offer. Foundry development — being built on the site of
Anyone who registers with the site a defunct metal foundry — will have 316 new
will receive email alerts whenever homes with big windows and a subtly industrial
new homes in their chosen areas go style, communal gardens, plus artist studios and
ALAMY
on sale. They can also register their offices.
interest, check eligibility, book Prices start at £385,000 for a one-bedroom flat.
viewings and receive an online Search weary?: a new Help to Buy website gives you email Help to Buyers will need to put down a £19,250 Deposit less than £20k: Help to Buy is available
financial affordability assessment. alerts about new schemes and even lets you book viewings deposit, take a £154,000 government loan, plus a on one- and two-bedroom industrial-style flats with
£211,750 mortgage. Two-bedroom flats start at communal gardens at Anthology Deptford Foundry
4 THURSDAY 26 JULY 2018 EVENING STANDARD
Homes Property | Help to Buy
OR a “London village” vibe,
F Savills (savills.co.uk) has a
duo of Help to Buy options in
two of the capital’s more
affluent locations.
In smart Chiswick, 500 Chiswick
High Road is perfectly placed to enjoy
the area’s endless bars, restaurants,
cafés and shops, and is surrounded by
no fewer than four open spaces
within a five- to 10-minute walk,
including Chiswick Common.
Studio apartments start at £440,000,
which means a deposit of £22,000,
government loan of £176,000 and
mortgage of £242,000. One-bedroom
flats start at £585,000, which means
raising a deposit of £29,250, taking a
government loan of £234,000 with a £26,050 deposit: with Help to Buy, a one-bedroom flat at The Ram Quarter in SW18
£321,750 mortgage making up the would require a government loan of £208,400 and mortgage of £286,550
Fancy going posh?
ROY TURNER
Find Help to Buy in these smart ‘London village’ locations
Early start: Roberta Petrenaite and Andrew Kershaw, both 23, bought in Bow
difference. Across the river in microbrewery, while listed buildings Wandsworth Town railway station is a
Wandsworth, a £600 million reboot of
the old Ram Brewery, beside the
River Wandle, is well under way.
on the site are being incorporated
into the development, giving it a bit of
character.
five-minute walk away, with services
to Waterloo taking around 15
minutes. A deposit of £26,050 will
‘It is brilliant to have a real
There will eventually be 661 homes,
plus shops, cafés and restaurants at
The Ram Quarter. As a nod to the
This is a great area to hang out in,
with the independent shops and cafés
in Old York Road, the small but
secure a one-bedroom flat costing
£521,000. Buyers will then need a
government loan of £208,400 plus a
sense of independence’
site’s history there will also be a perfectly formed Wandsworth Park mortgage of £286,550.
brewing museum and a and Battersea just up the road. And ⬤ savills.co.uk AT THE tender age of 22 and 23 jumped at the opportunity to own
respectively, Roberta Petrenaite and our own home. We didn’t think it
Andrew Kershaw became first-time would be possible for years.”
homeowners, moving into their one- The couple were able to put down
How Help to Buy works bedroom flat at St Paul’s Square in
Bow, east London (countryside-
a five per cent deposit — largely
thanks to Roberta’s long-term saving
WITH Help to Buy you to borrow around paying interest on your properties.com). habit — and moved into their flat at
London, buyers can put three-and-a-half times government loan, at 1.75 The couple, who met on Tinder in the start of the year. Their mortgage
down a five per cent your income, so a per cent, growing yearly 2016, were determined to avoid the repayments come in at £860 a
deposit on a new home, £500,000 home would in line with inflation. renting trap and moved in with month, and when bills and service
take a 40 per cent require an annual When you sell up you Roberta’s mother in Newham so charge are included their monthly
government loan and household wage of just repay the equity loan they could save for their deposit. outgoings are £1,100.
get a mortgage for the under £80,000. plus a share of any They then used the Government’s Roberta, now 23, an administrator/
55 per cent balance. The maximum you can increase in the value, Help to Buy London scheme to buy receptionist, and Andrew, believe
If you were spending spend under Help to Buy leaving you with your the £420,000 flat. they are the youngest of the
£500,000 this would London is £600,000. For original stake plus the “We knew we wanted to live residents at St Paul’s Square. Most of
mean finding a deposit the first five years you capital growth earned together but we didn’t like the idea their neighbours are in their thirties
of £25,000, taking a simply pay your on your portion of the of renting,” says Andrew, a primary and forties. “It is brilliant to have a
government loan of mortgage each month, property. The school teacher. “When we realised real sense of independence, and we
£200,000 and getting a plus service charges on Government says the how easy using Help to Buy London are very, very proud of ourselves,”
Put down £22,000: for a studio worth mortgage of £275,000. new-build homes. In the scheme will continue was and that we were eligible, we says Andrew.
£440,000 at 500 Chiswick High Road Banks generally allow sixth year you start until at least 2021.
EVENING STANDARD THURSDAY 26 JULY 2018 7
Help to Buy | Homes Property
Good things come in threes
In three exciting regeneration zones Help to Buy London is
available on flats with deposits from as low as £15,500.
New shops, bars, cinemas and offices are also in the mix
1 WALTHAMSTOW, E17 £155,998 government loan and a 2 CANADA WATER SE16
This east London district is growing mortgage for the remaining £214,498. Developer British Land has submitted
in popularity. As price rises across Two- and three-bedroom flats are also a planning application for London’s
Hackney continue to drive the young eligible for Help to Buy, priced from latest regeneration zone, Canada
and hip into neighbouring boroughs, £519,995 and £599,995 respectively. Water. If approved, 3,000 new homes
a brewery redevelopment in E17 has Waltham Forest has been one of will be built on 53 acres between the
one-, two- and three-bedroom flats London’s strongest-growing property City and Canary Wharf, in Zone 3 on
available with Help to Buy. markets since the recession, while the Jubilee and East London lines.
The Essex Brewery is only a couple investment in the area has seen the The application also includes a new
of minutes away from St James Street opening of Europe’s largest urban town centre with one million square
station on the London Overground wetland centre, new flats at the feet of shops and leisure facilities.
and no more than 10 minutes from former Walthamstow Stadium dog The 10-year project is being
Walthamstow Central Tube on the track and a greatly improved range of masterminded by Roger Madelin, the
Victoria line, both in Zone 3. One- pubs, restaurants and bars around man behind the transformation of From £520,000: one-bedroom flats at offering to pay buyers’ stamp duty and
bedroom flats start at £389,995, Walthamstow Central. King’s Cross. First-time buyers can London Square Canada Water, with Help legal fees up to £2,000. The nitty-gritty
requiring a £19,499 deposit, a ⬤ Visit crestnicholson.com get in early at London Square Canada to Buy requiring a deposit of £26,000 is that buyers need a £15,500 deposit,
Water in Quebec Way, where one- their government loan will be
bedroom flats start at £520,000. This £124,000 and they will also need a
From £389,995: requires a £26,000 deposit, a £170,500 mortgage.
one-bedroom flats £208,000 government loan and a Like Canada Water, Hounslow is
at The Essex £286,000 mortgage. being revitalised by a series of new
Brewery in E17 ⬤ Visit londonsquare.co.uk schemes, including a £100 million
require a £19,499 project by Barratt London and Wilson
deposit under 3 HOUNSLOW TW3 Bowdon to provide a multiplex
Help to Buy Buyers on smaller budgets could cinema, new shops and about 400
London. Through consider The Assembly, a mansion new homes on the high street. The
Crest Nicholson block-style scheme in Hounslow, area also has 200-acre Hounslow
where the nearest Tube station is Heath to enjoy, albeit punctuated by
Hounslow East on the Piccadilly line From £310,000: one-bedroom flats at the sound of aircraft from Heathrow’s
in Zone 4. One-bedroom flats start at The Assembly in Hounslow require a flight path overhead.
£310,000. Developer Countryside is £15,500 deposit. Through Countryside ⬤ Visit countryside-properties.co.uk
10 THURSDAY 26 JULY 2018
Homes Property | New homes
GETTY
Pluses of new build: new London From £395,000: one- and two-bedroom apartments, some From £600,000: two-bedroom apartments in mid-rise
flats often come with residents’ with balconies, at Callis Yard in Woolwich, SE18, where Crossrail towers overlooking the Thames at Waterfront III, a current
facilities, such as a gym, on site connections will be six minutes away (callisyard.com) phase at Royal Arsenal Riverside (berkeleygroup.co.uk)
PROS AND CONS
of buying new build
√ PROS
Walk into a bright new future
⬤ As stress-free a buy as you’re OR buyers who like their with Savills. A more affordable option
likely to find. You won’t get
gazumped or gazundered, you
won’t need a structural survey and
your home should be covered by a
10-year warranty.
⬤ You’ll be able to walk straight
into a bright, modern property and
F homes box-fresh and their lives
stress-free, new build is the
obvious solution. London is in
the throes of a building boom
as developers and housing
associations seek to meet the growing
demand for new homes.
New build is for
buyers who want
a box fresh home
and stress-free life
is Apt Living, near Gunnersbury Park
itself, with studio, one- and two-
bedroom flats on sale from £270,000
through Marsh & Parsons (apt-living.
co.uk). The pay-off here is that
floorspace has been kept tight at
these homes in order to keep prices
start enjoying it. New-build homes tend to be more down.
⬤ You might get residents’ facilities expensive than “second-hand”, but for One to watch out for is The Gateway
on site — from rooftop gardens to risk-averse buyers who don’t want any by L&Q North (thegatewayw4.
gyms. nasty surprises in their early years of london), with one- and two-bedroom
⬤ No DIY or repairs. home ownership, the house hunt locations such as Kew and Chiswick flats between Kew and Gunnersbury, masses of new build is an existing
⬤ Bills are likely to be lower than in starts here: and offering good-quality green open due to go on sale later this year. community, a busy town centre and
a leaky old period house. spaces and transport links, is independent shops, bars and
NEW IN BRENTFORD appealing.” NEW IN WOOLWICH restaurants.
×⬤ You
CONS
will pay a premium for a new
Buying a property in an area that sits
between more expensive and
The jewel in Gunnersbury’s crown is
180-acre Gunnersbury Park. There
It has got the River Thames, Crossrail
is coming and Woolwich is the
There is also a surprising amount of
local green space in the form of
home. The developers have to established locations is often a smart are plans for a new £14 million sports regeneration hotspot choice of Woolwich Common and Woolwich
make their money somewhere. way to find a spot with potential for hub there, while the park hosted this Graham Lawes, residential director at Park.
⬤ You will have to budget for a price growth, as buyers ripple out month’s Lovebox and Citadel music property consultants JLL, who has “Given that it is neighboured by
monthly service charge. Between towards it in search of value for festivals. witnessed the area enjoying a affluent areas, there is scope for
£100 and £250 a month is usual for money, driving up prices. It’s in Zone 3, and transport is “renaissance” in recent years. growth,” says Lawes.
a one- or two-bedroom flat. “With huge regeneration under way provided by the District line and “Millions of pounds are being The big-name development in the
⬤ Shiny new can sometimes be a and the redevelopment of Brentford London Overground services to west pumped into local infrastructure,” he area is Royal Arsenal Riverside, a
bit soulless for those who like Football Stadium, there’s a lot of and north London, while Chiswick points out. historic munitions factory being
period features. investment going into the area,” says High Road has endless bars, “The area is becoming more turned into an 80-acre riverside
⬤ No chance to put your own Charles Holland, head of residential restaurants, cafés and shops. desirable and increasingly becoming estate with 5,000 homes.
stamp on a property, or add value. development and investment at Currently on sale is Redrow popular with young professionals.” Berkeley Homes (berkeleygroup.co.
⬤ You’ll have to make do with a Marsh & Parsons estate agents. London’s 500 Chiswick High Road Lawes particularly likes the fact that uk) is currently selling two-bedroom
balcony rather than a garden. “Gunnersbury, in particular, development (redrow.co.uk), with Woolwich isn’t being built totally flats in Waterfront III, a series of mid-
sandwiched between high-value one-bedroom flats from £610,000 from the ground up. Alongside rise towers overlooking the Thames,
EVENING STANDARD 11
New homes | Homes Property
SIMON JACOBS
Help to Buyers: Ted Nimbe and Kate Whelan used the scheme to snap up their flat in Waltham Abbey
‘We love it here so much that friends have followed us’
WITHOUT the Government’s Help to Buy scheme interest payments on their Help to Buy loan will
Kate Whelan and her partner, Ted Nimbe, would kick in. “The Help to Buy scheme is great because
probably still be living with their folks. The without it we would have had to wait a lot longer
couple, who have been together for five years, to buy a property and would have had to move
saved for their deposit by doing just that, and, quite far away to find a home we could afford,”
having no rental contract, were free to pounce says Kate. “We hope to pay off the government
when they fell for the first property they saw. loan in the five years. My parents will help, they
They moved into a two-bedroom flat will be downsizing in the next year or two. And
overlooking the River Lee at Hazlemere Marina, we are putting money away each month in the
with Help to Buy available. Prices for From £270,000: new studio, one- and a Bellway development (bellway.co.uk) in hope that we will have just enough. And we have
these flats start at £600,000. There two-bedroom flats at Apt Living near Waltham Abbey, near Epping in Essex. always got the option of selling it.”
are also one-bedroom homes at Royal Gunnersbury Park (apt-living.co.uk) Ted and Kate had kept an open mind about
Arsenal Riverside, priced from what kind of home they wanted to buy. But The couple didn’t know Waltham Abbey before
£320,000 under a discount market development has a guide price of moving into a box-fresh apartment had real they moved to Hazlemere Marina but now
sale scheme especially for first-time £586,000, and two-bedroom appeal for them. recommend it to all their pals. Kate’s best friend
buyers. apartments are priced at £526,000. “New build gave us the ability to do Help to Buy, is just about to move into the scheme. “One of
Alternatively, a little further away There are also some one-bedroom which was a huge plus, but we also really liked our favourite parts of living here is the strong
from the river in Wellington Street, apartments with guide prices of the idea of everything being fresh and being able sense of community,” adds Kate. “We had a joint
SE18, Wellington Quarter is closer to £417,000 (ipglobal-ltd.com). to move in and it all being done,” says Kate. housewarming with our neighbours, who we met
Woolwich town centre. It’s just a At Callis Yard (callisyard.com) in “Buying your first flat is quite stressful and there at the launch, and now we are all great friends.
seven-minute walk from the new Woolwich, just west of Royal Arsenal is a lot to do. It just seemed easier.” The whole area has a lovely, small-town feel. I can
Crossrail station that’s due to open in Riverside, the first residents will Kate and Ted’s flat cost £310,000 last July. They pop into my local Tesco and end up bumping into
December, and also from the existing move into their new homes, with put down a five per cent deposit, took a 20 per someone I know. Due to our recommendations,
Docklands Light Railway station in rooftop communal terrace and gym, cent loan through Help to Buy and got a mortgage three of our friends have also bought here.”
Zone 4. As an added bonus, the later this year. to make up the difference. Kate, 24, an Tom works in Barking and drives to work. Kate
Crossrail effect is forecast to boost Prices for one-bedroom apartments international manager at retail chain Coast, and works in Old Street and her journey takes around
local house prices by 15 per cent over start at £395,000 and two-bedroom Ted, 25, a sales manager, now pay £808 a month an hour: a 10-minute walk to Waltham Cross
the next five years. A three-bedroom flats start from £405,000, through for their mortgage plus £140 in service charges. railway station, a hop to Liverpool Street in less
apartment at the Wellington Quarter CBRE and Savills. After five years this will increase, however, as than 30 minutes, and then the Tube.
12 THURSDAY 26 JULY 2018 EVENING STANDARD
Homes Property | Period homes
Is older wiser?
N OLDER home can be a
A brilliant buy for younger
entrants to the housing
market. Period homes offer
the best value for money
you will find; DIY can be deeply
satisfying when you really are doing it
for yourself and there’s no substitute
If you prefer a bit of character and don’t
for an elegant sash window, a lovely mind DIY, period homes can represent
old fireplace or a proper bit of garden
rather than a balcony. true value for London first-time buyers
London’s rich history means there is
a huge choice of locations to start John Lewis store offer ample choices
looking for that Victorian cottage or for shopping, while the restaurant
fabulous Art Deco flat. With a tight and bar scene is brimming with
first-time-buyer budget in mind, activity. The Riverside Walk area
these two locations are well worth provides a picturesque setting for a
exploring. meal, exploiting Kingston’s position
on the Thames. Another significant
KINGSTON UPON THAMES pull for first-time buyers are the
Here is a west London suburb with brilliant transport links. Three rail
GETTY
handsome, tree-lined streets that you stations are positioned across the
can afford — though admittedly you’ll town, with journeys into London
have to ripple right out to its borders £500,000: a two-bedroom maisonette Waterloo taking just 30 minutes.” Get your hands dirty: a proper bit of garden, rather than a balcony or terrace, could
with Surrey for the best offers. with sole use of the rear garden in Postcode matters here. Historically be part of the deal when you plump for a period property as your first-time buy
Kingston has a good stock of Manor Park Road, East Finchley. Call KT2, nearer Richmond Park, was the
Victorian housing, a busy town centre Barnard Marcus (020 8012 2051) most sought after but KT1, towards King’s Cross in around half that time. The jewel in East Finchley’s crown is
(with awful traffic) and a riverside Surbiton, is now gaining traction, The area developed with the arrival of its independent Art Deco Phoenix
location with lots of open space. partly because prices are a bit lower the railways, which means plenty of Cinema, which has a bar and a great
“Kingston is a real hotspot for first- but also because it is within walking Victorian and Edwardian terrace programme. Finchley High Road has
time buyers, with a healthy stock of distance of both the town centre and houses, many converted into first- a full complement of gastropubs,
properties within reach,” says Matt Surbiton station, which has fast trains time buyer-friendly flats. Expect to neighbourhood restaurants, cafés and
Aboud, associate director at to Waterloo from 19 minutes. pay about £325,000 to £350,000 for a plenty of useful shops, but no major
Featherstone Leigh estate agents. one-bedroom flat in a Victorian or supermarket and almost no chains,
He estimates that a one-bedroom EAST FINCHLEY Edwardian property, and £450,000 to which could be a plus or a minus
flat in a period conversion would cost This is a really good-quality quarter of £500,000 for a two-bedroom depending on your viewpoint.
about £350,000, with a two-bedroom leafy north London, cheaper and conversion. Its other flaw is a lack of green space
conversion at about £400,000. better connected than nearby — but There are also streets of villagey right on the doorstep. Cherry Tree
“First-time buyers typically look for £325,000: a one-bedroom flat in a Tube-less — Crouch End and Muswell two-bedroom cottages from about Wood park, pretty but only 10 acres, is
homes nearer the town centre, due to character-packed house in Kingston, Hill. East Finchley sits right on the £550,000, ideal for a young family. about the best you’ll get — although
its proximity to the train station and KT1, with study area and communal cusp of Zone 3, and a Northern line The presence of some fantastic two of London’s best open spaces,
the lively high street,” he adds. “The gardens. Call Foxtons (020 8012 6755) trip to the West End takes about half schools, including the “outstanding” Hampstead Heath and Alexandra
hugely popular Bentall Centre and an hour. You could be in Camden or Martin Primary School, seals the deal. Park, are about two miles away.
14 THURSDAY 26 JULY 2018 EVENING STANDARD
Homes Property | First-time buyer
Sussex called: Nicola
Armstrong and Chris Style
found a home they could afford
Trend: botanicals
by looking beyond London to
Horsham in West Sussex
Botanicals are the summer interiors
trend for a fresh, floral flourish
ITH this summer Furniture’s Malini cushion in cream
‘Mum and Dad
made it possible’
FROM a cramped rented
terrace in Uxbridge, west
London, to fully fledged
W shaping up to be the
hottest in living
memory, it’s time to
turn your home into
a blooming, beautiful indoor oasis.
From vintage-style horticultural
prints to painterly cushions and
and green (cultfurniture.com). Or buy
the real thing, £26.99 (waitrosegarden.
com). Crisp, white bedlinen strewn with
painterly, pastel blooms is ultra-femi-
nine. Zara Home has a so-pretty revers-
ible botanical-print cotton duvet cover
from £69.99 with matching pillowcases
homeowners, Nicola fabrics and gorgeous glass vases, the from £15.99 and sheets from £25.99
S SAUNDERS
Armstrong and Chris Style shops are full of inspired options on (zarahome.com).
ascended the property ladder the botanical theme. Find style on a shoestring with H&M
with a leg up from the Bank of Think lush green foliage rather than Home’s dainty clear glass mini-vases in
Mum and Dad — and a bonkers tropical designs that seem like smoke, blush and amber for £2.99. The
willingness to look beyond the and Chris, a cable jointer keen on Sussex, having grown fun but can be hard to live with. One of faceted H&M vase in anthracite or clear Lush: Calke
capital in order to secure their whose work takes him all up there, and wanted to be Farrow & Ball’s key colours for walls cries out for a big bunch of peonies. The Green paint, right,
dream home. round London and the South- close to her parents and sister. now is Calke Green, “a rich sage with a large stoneware plant pot, £17.99, in from Farrow & Ball
Their first step was to move East, moved into their first Southwater ticked all their dark masculine feel” (farrow-ball.com; black is more masculine (hm.com). is “a rich sage with
in with Nicola’s parents in home with their chocolate boxes with its good range of £45 for 2.5 litres). Bolder is the greeny-blue mid-century a masculine feel”,
Horsham, West Sussex, so labrador, Ozzy, in February. shops and restaurants and OKA has a set of eight fern prints in style of the irregular ridge vase by Ben £45 for 2.5L
they could save up. “We were both delighted plenty of open countryside black frames that look wonderful de Lisi Home at Debenhams, £12.60 in (farrow-ball.com)
Then, when they found a and were unbelievably nearby for walks with Ozzy. grouped together (oka.com). If the £295 the summer sale. And the Murmur large
property in the county, near grateful for Dad’s help,” says Broadacres is a 10-minute price is beyond your budget, use them green earthenware centrepiece bowl,
the village of Southwater, Nicola. “In addition, the drive from Horsham station, as inspiration and shop around on eBay £40, would look fantastic stacked with
Nicola’s father stepped in with savings we had already made, where trains to either London and Etsy for vintage prints you can dis- lemons or apples (debenhams.com).
a 10 per cent deposit to allow due to living rent-free for nine Bridge or Victoria take less play in simple Ikea frames. Finally, create a botanical scent for
them to buy the £335,000 months at my parents’ home, than an hour. An annual If you find it hard to steer away from your home with an ultrasonic aroma
two-bedroom semi-detached helped us furnish the house.” season ticket costs from grey and your budget is tight, Matalan diffuser — longer lasting than a candle.
house at Berkeley Homes’ They now pay £1,200 a £3,384. Prices at Broadacres has cushions for £8 in a pretty, delicate Muji’s aroma diffuser, £59.95, is styled
Broadacres development. month in mortgage, start at £400,000 for a three- grey/white/green print (matalan.co.uk). as a simple white cylinder that doubles
Nicola, an IT business compared to £800 rent in bedroom house. For a bit more oomph, supersized mon- as a gentle lamp for evening ambience
analyst based in Maidenhead, London. Nicola was already ⬤ berkeleygroup.co.uk stera deliciosa leaves feature on Cult (muji.eu).
EVENING STANDARD THURSDAY 26 JULY 2018 15
homesandproperty.co.uk powered by First-time buyer | Homes Property
Bring the
outside in: far
left, OKA’s set of
‘We found lots of
eight fern prints in
black frames,
little ways to save
£295, look
wonderful
the deposit. We’ll
grouped together live here for years’
(oka.com)
The room’s
abloom: left, YEARS of saving, packed lunches,
curtain fabric is cycling to work, a “selective” attitude
Amaryllis in Coral/ to their social lives, and a big dollop of
Lagoon/Ochre; compromise helped propel Vicki
fabric on sofa is Shannon and her husband Pete on to
also Amaryllis in the property ladder.
Cerise/Lagoon. And just at the right time. The
Both are £45 per couple bought a three-bedroom
JULIET MURPHY
metre from the garden flat in Thornton Heath in
Harlequin Zapara Croydon — and later this year Vicki,
Collection 29, will give birth to twins, creating
(stylelibrary.com) an instant family.
Vicki, a health visitor, and Pete, 31, Perfect timing: Vicki Shannon and husband Pete in the Thornton Heath garden flat
Wall flowers: an architect, had been living in that will be home for them and their instant family when their twins arrive this year
left, Yasuni Battersea, paying £1,350 a month for
wallpaper in a “tiny” one-bedroom flat. The in no more than an hour. Eventually cent of 20- to 35-year-olds in the UK
Emerald/Zest by prospect of a rent rise persuaded they settled on Thornton Heath and own their own home, and more than
Harlequin, £65 a them it was time to buy. As they had in 2016 paid £350,000 for their home one in 10 have given up on the idea
roll, from the been saving since they married in in a newly renovated period terrace, altogether. But owning has been
Harlequin Zapara 2013, they had a deposit ready to go. putting down a 10 per cent deposit. cheaper than renting for Vicki and
Collection at Style “We aimed to save £10,000 a year “I had never even heard of Thornton Pete. Their mortgage comes in at
Library (as before). which was do-able,” says Vicki. “We Heath,” admits Vicki. But she and £1,170 a month, meaning they have
Visit the Style saved in lots of little ways. It sounds Pete fell in love with the apartment been able to invest in upgrading the
Library showroom really boring but we planned our and were willing to overlook the fact “developer finish” on the flat, doing
at Design Centre meals and did a big online shop every that the area lacked the café culture such work as replacing a faux-granite
Chelsea Harbour, week, I took on extra shifts and we and restaurants to which most worktop and orangey timber floors.
First Floor, South cycled to work.” millennials aspire. “Being able to buy a property we
Dome (020 3903 They were also flexible about where Becoming homeowners has made could live in for five or 10 years is so
3700) they were prepared to live. Pete’s Vicki and Pete something of a rare lucky,” says Vicki. “Otherwise we could
only prerequisite was that he wanted breed. According to financial advice still be in an expensive one-bedroom
to be able to cycle to work in the City website noddle.co.uk only 14 per flat in Battersea with twins.”
16 THURSDAY 26 JULY 2018 EVENING STANDARD
Homes Property | Money
10 ways to cut the cost of your new home By Ruth Bloomfield
HERE can be no doubt that pitching your offer at five to 10 per
7 If you can find a property for less
T London’s long-suffering
first-time buyers face a
Grand National-level series
of obstacles to get on to the
property ladder. But there are ways to
cut the cost of your first home by
being smart and flexible, and here are
cent below the asking price.
“Otherwise you’re likely to alienate
the vendor,” he warns.
4 Don’t assume that new-build
prices are fixed, because some
developers will give discounts,
than £300,000 you won’t have to
pay any stamp duty, which is always
one of the most onerous buying costs
when joining the property ladder.
And if you buy for less than £500,000
you will only pay stamp duty at five
per cent on anything you spend over
10 of them: particularly in the current slow market. £300,000.
James Cameron, director of online
1 The time-honoured way to cut
costs is to move down the train
line. If you can’t afford your top-
estate agency Vesper Homes, says: “If
you are buying a new build, try offering
10 per cent below what the developer
8 It is always a good idea to offer to
buy your vendor’s curtains and
blinds, as well as kitchen white goods
choice area, accept you might have to is asking for, and get a parking space and any furniture you like the look of.
live a few Tube stops away from it. thrown in as well. We know of one Get your solicitor to do the talking.
And since you won’t be the only buyer large development in London where
“rippling out” from a desirable area to
somewhere more affordable and
lower-profile nearby, you might also
this approach has worked recently.”
9 Don’t rush into a mortgage
agreement just because you are
see outperforming price growth. 5 Alternatively, ask the developer
to throw in a furnishings pack to
get you started. “These can be worth
so surprised and grateful somebody is
willing to lend you a six-figure sum.
And don’t assume the lender you
2 Get to know London. Don’t
restrict your house hunt to areas
£5,000 to £7,000,” says Cameron. bank with will give you the best deal
— there is no loyalty bonus. “Talk to
you already know well. Do a search on
one of the main property portals to
work out where you can afford a flat,
6 If you are buying a “second-hand”
home, one thing you absolutely
shouldn’t skimp on is a survey. Once
the mortgage lenders directly, look on
comparison websites, or speak to a
mortgage adviser who will have in-
then sacrifice a few weekends to tour you get the report, go through it depth knowledge of the market,”
locations you’ve never visited to see thoroughly — and your surveyor should advises Jo McDonagh, sales director
GETTY
what they are really like. You might be be willing to talk you through the at Shanly Homes.
pleasantly surprised by Eltham, findings, too. If there is a major
Charlton, Bounds Green and the like. Phone a friend: hire a van and get a pal to help, to save on professional removal fees problem but you still like the property
you can try to renegotiate the price to 10 Van hire and help from some
beefy friends is always going to
3 Haggle — politely. Do your
research on the prices of similar
properties in the area, and once you
don’t be shy to make an offer below
the asking price, as you are in the
strong position of house-hunting in a
property is madly overpriced, Hugh
Blake, associate partner at Carter
Jonas, says making a really unrealistic
take into account the cost of putting it
right. Get quotes for the work from
three builders first to prove your
be cheaper than a professional
removal firm, so don’t be shy to call in
favours and emotionally blackmail your
are clear about what a fair price is, buyer’s market. But unless you feel a offer is just silly. He recommends request is reasonable. nearest and dearest.18 THURSDAY 26 JULY 2018 EVENING STANDARD
Homes Property | Storage
Perfect little hideaways
HERE are certain things —
T friends, money, giant
chocolate buttons — you can
never have too much or too
many of. Top of this list is
storage, because a first-time
homeowner will go with alarming
speed from sitting in a half-empty You’ve got your own place, now use every last inch of space
living room with a cardboard box for Shelves galore: the Smuggler pine
a coffee table, to tripping over headboard (£545, loaf.com)
mounds of possessions piled over
every inch of floor. The key is to be FIND STORAGE
clever with storage, making sure not
to overlook “dead” space.
inspiration
Picking the right furniture is vital.
Loaf’s pine Smuggler headboard THERE are some fantastic websites
(£545, loaf.com) has built-in shelves and blogs dedicated entirely to the
on the sides, pull-out shelves on each topic of storage, with great ideas
side for drinks, with yet another shelf about how to maximise it.
on top for lamps and books. Our pick of the bunch includes
Simple plastic boxes from any livinginashoebox.com which
supermarket are perfect for storing features tiny homes and how to
shoes, blankets and clothes under the organise them.
bed. Alternatively, use old fruit boxes Even DIY virgins should be able to
from your local greengrocer. Or see if tackle the projects featured on
anyone is dumping an old chest and shanty-2-chic.com, where the
will give you the drawers, to get the “storage solutions” section will
same effect for free. teach you how to make a hanging
Multifunctional furniture is king. planter out of a couple of bits of
Habitat’s Bert storage coffee table wood, some twine and blackboard
(£130, habitat.co.uk) is cute, compact, everything from mugs to pans, to From left: Ikea’s SKÅDIS pegboard, Home is big enough to be a recycling spray paint. It also offers idiot-proof
and you can whip off its ash-veneered bags and shoes (pegboard from £8, from £8 (ikea.com); three-tier bin or a book and magazine caddy, advice on how to make and hang
lid to stow all sorts in the base. fixtures from £1.50, ikea.com). Ikea Newstalgia wooden storage caddy, £26, and would make a pretty neat picnic shelves.
An incredibly versatile bit of kit, the does a white version but you can buy from Sainsbury’s Home (sainsbury’s. basket (£18, sainsburys.co.uk). Search “storage” in
SKÅDIS pegboard from Ikea can be a metal pegboards, often used to tidy co.uk); the Bert storage coffee table in And don’t forget outdoor storage. If apartmenttherapy.com for heaps
kitchen storage lifesaver or a home garage tools, at most DIY stores. Key. mushroom grey, £130 (habitat.co.uk) you’ve got a tiny balcony you’re going of ideas on how to maximise your
for your fashion accessories. The co.uk does a heavy-duty mild steel to need a plant stand. Next’s Salvage storage. Finally, get drawer envy at
pegboard panel is perforated. You fix one, 45.7cm x 49.5cm, for £16.68. books. Ikea’s LACK costs from £10 (as Ladder Planter in wood and organized-home.com — a
it to the wall or to a cupboard or Space above doors gets overlooked. before). Woven baskets make brilliant galvanised metal is large enough for a website that’s certain to make
wardrobe door and fit it with hooks, A simple floating shelf above the multifunctional storage. The private herb garden or a fragrant anyone feel just a wee bit inferior.
shelves and caddies to store architrave can display plants, china or Bohemian Traveller from Sainsbury’s cascade of lavender (£50, next.co.uk).You can also read
