Help to Buy Event In Wembley This Weekend

Barratt London is opening the sales and marketing suite at its No.10 Watkin Road development in Wembley for a homebuyer Help to Buy event over the weekend of Saturday 8 and Sunday 9 May.

The awarding-winning developer has said it anticipates a flood of demand from buyers there and at its other developments around the capital in the coming months thanks to the relaunch of the government’s Help to Buy scheme.

Having already enabled over 365,400 first-time buyers to get on the property ladder since its launch in 2013, the updated version of the Help to Buy equity loan scheme – which came into effect on 1 April 2021 – is poised to help thousands more this year.

One of the major changes in the scheme is its exclusivity to first-time buyers to ensure only those who genuinely need a government loan will be entitled. In addition, new regional price caps under the revised scheme aim to maintain Help to Buy values at an affordable level, bespoke to each local housing market. This will mean that buyers can only use the initiative to purchase a new-build home costing no more than 1.5 times the average first-time buyer house price in their region.

Under Help to Buy, prospective homeowners can borrow up to 40% in London, up to the value of £600,000. This is an interest-free loan for the first five years, and then interest fees start at 1.75% and rise each year in April by the Consumer Prices Index plus 2%. This means with a 5% deposit, a mortgage would only be needed on 55% of the property’s value. Running until 31 March 2023, the scheme remains one of the capital’s pivotal routes to homeownership for many Londoners stuck in ‘generation rent’.

Pam Reardon, sales director at Barratt East London said: “Saving for a deposit is one of the biggest hurdles to overcome, and this feels even harder in a time of economic hardship. The ability to purchase a property with just a 5% deposit means fewer arduous years of saving, whilst often trapped in smaller properties with high rents to pay. Young families and couples can finally get a place to call home, with the space and quality that a new build development can provide.

“New developments that are part of Help to Buy offer buyers ready-made communities that you wouldn’t otherwise get. Place-making is high up on our agenda, and in real terms this can mean access to things like on-site gyms, rooftop gardens, communal grounds, new shops and public squares – even on-site schools.”

At No.10 Watkin Road, each apartment comes with either a large balcony or terrace and will offer five landscaped rooftop podiums. Properties here currently start from £430,000, with one- and two-bedroom apartments available with a Help to Buy deposit of just 5%. The scheme is set just a five-minute walk from Wembley Park Underground station and next to one of the world’s most iconic stadiums, meaning residents will always have plenty to do with a thriving entertainment scene and first-class shopping. The area serves nature lovers with the 103-hectare Fryent Country Park and Brent Reservoir just a short stroll away, where you can paddle board, kayak and fish.

Find out more about No.10 Watkin Road from Barratt London.

Find retirement homes in the London Borough of Brent
Find Help to Buy homes in the London Borough of Brent
Find new homes in the London Borough of Brent