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London Help To Buy At Mill Hill Developments

Posted 8 April 2021 by Keith Osborne

The relaunched buyer scheme is available at a wide range of apartments across the north London regeneration project...

Following the recent relaunch of the government-backed scheme, Help to Buy is at the top of the list of house-hunting questions for first-time buyers looking for an affordable option in London and there are a few opportunities to use the initiative at current developments at the major regeneration in Mill Hill.

London Help to Buy is open only to first-time buyers purchasing new build properties priced up to £600,000. It requires a 5% deposit and 55% mortgage – the remaining 40% is provided by the government as an equity loan, interest free for the first five years.

The scheme is now available at Plaza Collection, a new community in Mill Hill. The first phase comprises 257 design-led one- and two-bedroom apartments and duplexes, with prices from £399,000.

Developed by Poly UK and with interiors by the globally renowned architects and designers Michaelis Boyd, Plaza Collection will deliver new homes set amongst communal gardens, a new landscaped plaza and circa 15,000 sq ft of commercial and retail space which the area is currently lacking.

Occupying a prime position on the Millbrook Park site, the development will form a much needed gateway between Millbrook Park and Mill Hill East station. Plaza Collection will offer attractive mid-rise blocks clad in eye-catching exposed brickwork with characterful gabled roofs. Internally, the homes will be spacious and light-filled, with a focus on rich materials and elegant finishes creating a blend of both modern and traditional interior elements. All homes also benefit from balconies.

Robert Fraser, managing director of sales agent Fraser & Co, commented: “We have enjoyed high levels of early interest in Plaza Collection, which is bringing something new to Mill Hill and will create an exciting new destination here. The addition of Help to Buy will provide a significant boost for first-time buyers who are looking to make their move and want to be part of this new community.”

The new marketing suite and show home are available to view by appointment only, with social distancing and increased hygiene measures in place.

Find out more at www.plaza-collection.co.uk or Fraser & Co on 020 7725 4295.

No.1 Millbrook ParkNo.1 Millbrook Park

Joseph Homes has seen that a significant number of first-time buyers, predominantly those renting in Zones 1 and 2, have recently purchased at its No.1 Millbrook Park, drawn to the generously-sized apartments, wellbeing-focused design and vibrant local community. It is also located on the highest point of the regeneration scheme, so the apartments have some of the best views of the open, green spaces below, in addition to wider panoramas across the London skyline.

This has been bolstered by the Chancellor’s latest assistance packages such as the extension of the Stamp Duty (SDLT) holiday and the new mortgage guarantee system for buyers with a 5% deposit, as well as London Help to Buy.

Demographics at the development identify 91% of apartment buyers at No.1 Millbrook Park as first time buyers, with 87% in total using the Help to Buy equity loan. 43% of apartment buyers were under 30, while an additional 40% fell in the 30-40 age range. Buyers span demographics from across the UK and beyond, but a notable majority come from inner London areas such as Hammersmith, Shepherd’s Bush, Hornsey and Canning Town, showing Mill Hill’s draw as an affordable option for those looking to enjoy an area that offers the best of the city and the suburbs.

One-bedroom homes at No.1 Millbrook Park represent a great first purchase opportunity, with average floorplates come in at 630 sq ft, compared with the UK average of 495 sq ft, and larger than other apartments on the Millbrook Park regeneration area, which span 570 sq ft on average. Joseph Homes has its own Live Well® approach which takes a ‘fabric first’ approach, with homes delivering on the low-carbon agenda. These homes use low VOC (volatile organic compound) paint, gas-free appliances (reducing toxic fumes), thermally efficient glass, mechanical ventilation and heat recovery systems (MVHR) and pollen filters to create a continuous supply of fresh filtered air.

Advocating an integrated approach to housebuilding, Joseph Homes is a B Corporation® (B Corp™) certified developer, awarded for taking a holistic view on impact and reward, whilst prioritising people and the planet. This commitment supports its mission to deliver better homes and spaces for a better world.

Sean Ruane, sales director of Joseph Homes, commented: “We have been able to help many Londoners achieve their dream of stepping onto the property ladder, especially for those who might not have thought that Mill Hill would be in their budget. With the recent announcements in the Chancellor’s Budget, now is a great time for first-time buyers to get onto the ladder using the combination of the Help to Buy scheme, SDLT extension and 5% deposit mortgage.”

Apartments at No.1 Millbrook Park are available to purchase now, with prices starting from £399,995. All apartments are available to purchase through the current London Help to Buy scheme. Find out more at www.no1millbrook.co.uk.

Millbrook ParkMillbrook Park

Barratt London is building a total of 345 apartments and 10 houses at Millbrook Park. All come with their own private outdoor space and parking is included.

A number of its one- and two-bedroom apartments current for sale qualify for London Help to Buy. The housebuilder’s own current featured home is a two-bedroom, two-bathroom property – at 833 sq ft, one of the largest – on the first floor of the Iris Apartments building. It features the specification and design ethic found across the range. It has a dual-aspect, open-plan living/dining with a fully fitted kitchen and integrated appliances, opening out onto a large wraparound terrace. Further benefits include a storage cupboard and a separate utility room. A range of upgrades are available.

Plot 195 is priced at £549,000 and will require a 5% deposit of £27,450 under the government scheme. If you reserve before 30 April, Barratt London will pay your service charge for the first two years, plus the Stamp Duty, meaning savings worth thousands of pounds.

The current availability of one-, two- and three-bedroom homes are priced between £410,000 and £982,000. By appointment only, the sales office’s opening hours are Monday from 12.30pm to 5.30pm, and Tuesday to Sunday between 10.00am and 5.30pm. Find out more about Millbrook Park from Barratt London.

Transport links from all these new homes are excellent – Mill Hill East Underground provides Northern line services into central London in less than half-an-hour, and Mill Hill Broadway Overground line opens up connections to Europe via St Pancras, and the rest of the world via Luton Airport. Residents can currently find a Co-op, a large Waitrose and Virgin Active on the doorstep.

 

Find retirement homes in the London Borough of Barnet
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Mill Hill, Barnet NW7
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Millbrook Park
Mill Hill, Barnet NW7 
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