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Help to Buy
Lucy Pendleton to give some insight into the recent December 2016 House Price Index.
James Pendleton is an amazing company. They have been a big part of me winning a bronze medal in Rio 2016 and have been so supportive with all my achievements, which wouldn't have been possible without them. They have given me so many opportunities, I am privileged to be associated with such fantastic people who give so much back to the local community.

Aaron
Having recently rented my property through James Pendelton, I can't recommend them highly enough. They walked me through the process and found me amazing tenants. From the first contact they were professional and informative. Thank you to Jacob, you were amazing. Thank you also to the Angel Department who, after realising I needed safely certificates, sorted everything out for me and made sure I had everything in order.

Giles
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Help to Buy: What It Means For You

  • If you're looking to buy property in London you may have heard recent news about the development of the Help to Buy scheme in the Capital. In February 2016 the Government rolled out a new incentive for those living in London boroughs, which increased the upper loan limit from 20% to 40% of the total cost of the property.

    So what does Help to Buy mean for you? First off, a breakdown of the numbers...

    The scheme entitles first time buyers to a 40% Government loan of the market value up to £600,000, to supplement their original mortgage. This means that if you've taken up the Help to Buy scheme and have a 50% mortgage, your deposit will be 10%. Through the scheme, the deposit can be as small as 5%. What's more, once you've purchased through Help to Buy, you don't have to start repaying the interest on your loan for five years, giving you time to settle and save.

    It is important to note that the scheme is currently only available to those purchasing new homes in the Capital and the development must be approved by the Government. Homes purchased through the scheme must also not be sublet or part-exchanged in a later sale. It's also worth noting that not all banks or building societies offer a Help to Buy mortgage so it's worth speaking to SPF Private Finance to see what is available to you, your dedicated James Pendleton consultant can put you in touch with a SPF representative to make sure you have all the information you need.

    So why has the loan been introduced? Providing equity loans to first time buyers is part of the plan by the Government to make moving home easier for those who have worked to save for a mortgage. A step onto the property ladder in London represents a significant accumulation of capital which can be sold in future- as well as- of course- opening the door to owning your first home.

    30 York Road, a boutique development of luxury apartments located just off Battersea High Street, has recently been approved as part of Help to Buy. There are seven stylish one-bedroom apartments available under the scheme and each apartment offers fantastic accommodation for modern living and are within walking distance to Clapham Junction station. You can read more about 30 York Road here.

    If you're interested in finding out more about the Help to Buy scheme, are looking for properties in London through the scheme or would like to arrange a viewing at 30 York Road, contact our New Homes team at newhomes@jphomes.co.uk or call us today on 020 8099 1111.

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