Help to Buy Success Stories: Imogen and Joseph
Barratt London: Engaged couple escape flat share with Help to Buy at Upton Gardens
Young buyer Imogen Thompson (29) and her fiancé, Joseph Prophet (30), were looking for a way onto the property ladder and decided to use London Help to Buy to purchase a three bedroom apartment at Barratt London’s Upton Gardens development in East London.
Imogen and Joseph were living in a four person flat share in Camden, but after becoming engaged they were looking for a home to call their own. Reduced rental costs from the flat share allowed the couple to boost their savings each month, and after a monetary gift from a family member, the couple were ready to buy. When they discovered Upton Gardens, Imogen and Joseph were impressed with the area’s sense of community and good commuter links, so decided to make a purchase.
Imogen, who works in land planning, comments: “While living in a flat share was a great way for us to save money, it was not what we wanted long term, and we had been looking at property options for quite a while to understand the market. We found out about Barratt London as our friends have recently bought at another development in Catford, so we decided to explore our options. Upton Gardens met all our criteria for a home purchase, and an added bonus is that the property prices were very affordable as the area is up-and-coming.
“When we found out about Help to Buy, we were amazed to discover what it meant for us. It made sense for us to use the scheme, as we could get ahead and get out of our flat share. We are now homeowners and building equity, which is such an achievement for young professionals in London. We have been able to move far sooner than we thought was possible and even purchased a larger property, which is all thanks to the scheme.”
Launched in 2013, London Help to Buy is the government’s equity loan scheme, through which buyers pay a 5% deposit and the government lends up to 40% of the cost of their new home. From April 2021 until 2023, the scheme will be open to first time buyers only. There will also be caps placed on the value of properties which can be purchased using the scheme, with a maximum of £600,000 set in London.
Alongside the affordability factor, Imogen and Joseph were drawn to the local amenities both within and surrounding Upton Gardens. The development itself benefits from a gym, concierge service, rooftop terraces and community space. The couple are enjoying their newfound privacy and looking forward to having a gym on their doorstep, and a convenient concierge on hand at all times.
Imogen continues: “We couldn’t be happier with our new home and we really benefit from having space to ourselves as a couple now. The neighbourhood is really community-focused, and we believe the uplift potential in the area is immense. We feel that we purchased here at the right time for us. I love that we are already benefiting from excellent independent coffee shops and pubs on our doorstep, yet central London is just 30 minutes away. An added bonus is that both of our commutes are within 25 minutes on the tube.”
Upton Gardens is located on Green Street, set on the site of the former West Ham United Boleyn Ground stadium. The development consists of 842 contemporary apartments, with every home benefiting from open-plan living areas, floor-to-ceiling windows, and a private balcony or terrace.
The surrounding area has been part of a post-London Olympics regeneration project, with investment continuing to improve the local landscape. Residents can enjoy a range of independent shops, fruit and veg stalls, bakeries and restaurants, alongside traditional pubs and bars. For those looking to enjoy the outdoors, green space can be found within walking distance at West Ham Park, Priory Park and Central Park.
Located in Zone 3, regular train and tube services from Upton Park Underground Station offer speedy connections into central London. Liverpool Street and Canary Wharf are just 15 and 16 minutes away, while the West End can be reached in 31 minutes. Key east London attractions such as Westfield Stratford City, the Olympic Stadium and the O2 Arena are also nearby.
For more information visit www.barrattlondon.com or call 0330 0574 372.
Help to Buy is a government backed scheme which aims to help first time buyers get a foot onto the property ladder. The Help to Buy equity loan enables purchasers to buy a new build home with the help of an equity loan, also known as shared equity.
Please note that the Help to Buy: Equity Loan is subject to eligibility, terms and conditions. For further information about the home-buying and application process with the Help to Buy: Equity Loan, please refer to the Help to Buy Agent in your area.
Share to Buy is a one stop shop for first time buyers looking to get a foot on the property ladder. Start planning your future today and check out our available properties, or visit our helpful FAQs and guides to find out more about Shared Ownership. You can also hear from more buyers via our Shared Ownership Success Stories and Help to Buy Success Stories!