First-time buyers sidestep rental costs with Help to Buy

Two first-time buyers in their mid-twenties have managed to side-step the rental trap and surprised themselves by getting on the property ladder before they anticipated at Linden Homes’ Nash Mills Wharf development in Hemel Hempstead.

Figures recently unveiled from Your Move confirmed the monthly cost of rent for homes across England and Wales rose to an all-time high of £846. According to the buy-to-let Index, the biggest year-on-year increase occurred in south-east England, with rental costs rising by nearly 15% to £924 partly caused by people moving out of London to escape the capital’s high rents.

Since graduating from Hertfordshire University two years ago, Sian Tyler, 25 and Joe Malloy, 24, didn’t expect to make their first move on to the property ladder as quickly as they did but are now new homeowners at Linden Homes development, Nash Mills Wharf.

New homeowner, Sian said: “Renting was never a route we wanted to take so we decided to remain living with our families to help save for that all important deposit for a home together.

“Joe and I both had our hearts set on living at Nash Mills Wharf and as it has been such a popular development in the area, we had been concerned about the apartments all selling out before we had our deposit together. However, by using the Help to Buy scheme, we were thrilled when we managed to secure a plot off plan last October.”

After securing their new two bedroom apartment, the couple watched and waited in anticipation as their new home was constructed ahead of moving in this September.

Moving from Leavesden, a small village nearby Watford, the new neighbourhood is much quieter than Sian first expected from living in a larger community:

She said: “The development has a really great community vibe but it can also be nice and tranquil. The apartments are nearby the canal so we like to enjoy a Sunday walk along the waterside with a stop off at the local pub. Kings Langley is about a 30 minute walk away where there are plenty of restaurants and shops.”

Nash Mills Wharf is ideal for commuters like Joe who works in recruitment in London. The development is within walking distance of Apsley train station which offers regular services into Euston in less than half an hour.

Simon Pendlebury, sales and marketing director at Linden Homes Chiltern said: “The all-time high rental cost issue is something that continues to pinch the purses of those in their twenties and into their thirties, so it is great that Sian and Joe have been able to avoid the trap of renting and become homeowners.

“The increase in rental costs has spurred lots of renters to come and speak to our team at Nash Mills Wharf as they are attracted by the affordability, especially when utilising the Help to Buy scheme.

Prices: From £315,000

For more details call 01923 708 346 or visit www.lindenhomes.co.uk