Help To Buy Coming Soon For Harrow Apartments
Posted 17 January 2022 by
Keith OsborneBarratt London will soon be introducing the London Help to Buy scheme at its popular Eastman Village development in north-west London.
Help to Buy is the government-backed scheme which provides first-time buyers with an opportunity to purchase a new home with a deposit of just 5% and a mortgage of 55%. The balancing 40% is provided as an equity loan by the government which is interest-free for the first five years. You will own 100% of the home. It gives potential buyers a chance to take a first step on the property ladder without the huge deposit payment they would usually need, and a Help to Buy mortgage of 55% will be much cheaper than one for 80% or 90% needed otherwise.
The one- and two-bedroom Emerson Apartments at Eastman Village currently start at £296,000, so would require a 5% deposit from £14,800 and a mortgage from £162,800. The balancing £118,400 will be provided by the government as a Help to Buy equity loan.
Barratt London launched the SMRT apartments in Eastman Village in September 2021. They provide everything needed for a comfortable home but clever design means that it can all efficiently fit into a smaller floor space, which means the price is lower than more conventional layouts. They are all compliant with GLA space standards and come with double-sized bedrooms with floor-to-ceiling built-in wardrobes, an open-plan kitchen/dining area, a utility cupboard, and a private balcony or terrace as standard.
Ed McCoy, sales and marketing director, Barratt West London, commented: “We have worked tirelessly with a range of senior external architects and interior designers to ensure every millimetre has been considered, including a lengthy test and learn phase with real people living in the space to provide feedback along our design journey. The clever space saving tricks, with optional extras and various types of interior packages, ensure everyone is catered for. Storage in every nook and cranny means there is no need for clunky furniture like wardrobes, sideboards, and drawers.
“It’s absolutely functional, without cutting any design corners - the incredibly high spec of appliances and finishes on offer at SMRT are some of the best I’ve seen. We believe this is a forward-thinking luxury product that is perfectly proportioned.”
Currently at Eastman Village, one-bedroom SMRT apartments start at £296,000 and two-bedroom properties at £473,000. Find out more from Barratt London.
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