Notting Hill sales offers affordable riverside home with Shared Ownership
Monday 18th September 2017
Notting Hill Sales has a great reputation of helping people from all backgrounds get on the property ladder. Here is a case where a new Father is faced with the dilemma of having to upscale to a home big enough to welcome his newly born daughter. Marco Liberace, 40, bought his first home with us at Royal Albert Wharf, at the Royal Docks in East London, for himself and his wife Olga, and their baby daughter Agatha.
Marco was involved in the design of the properties at Royal Albert Wharf, which was a huge factor in his decision to buy there. Marco explains: “We were quite happy renting in North London, however, with the upcoming birth of our daughter, we knew we wanted to move somewhere with more space, and the fact that I had worked on this development and knew the high quality of the properties meant that when the apartments came onto the market, it was a great opportunity for us to buy, especially using Shared Ownership to reduce our initial mortgage borrowing and mortgage requirement.”
Marco continues: “Buying outright wasn’t really an option financially, but through Shared Ownership, we could afford to pull our savings into a deposit and then the rent and mortgage wasn’t that much more a month than we were previously paying when renting our small one-bedroom flat. We bought a 40% share of the two-bedroom apartment, which was £420,000 at full market value, and our mortgage for this share worked out at £170,000. The process of using Shared Ownership was easier than we thought it would be, we viewed the apartment in March and had completed the purchase by April. We plan in a year’s time, once Olga is back to work, to staircase, with the hopes of purchasing a further 20% share.”
Looking towards his family’s future, Marco explains: “We have already started looking at nurseries and schools in the area, and there is actually a nursery at the University of East London which is only a couple of minutes’ walk away. Agatha won’t be going for several months yet but it’s always good to look ahead!”
The homes are conveniently located for access to major transport links. Gallions Reach DLR and Cyprus DLR are both within walking distance, linking to Canary Wharf in less than 20 minutes, and Canning Town for the Jubilee line in 12 minutes. London Bridge can be reached in 22 minutes, and London Waterloo in 25 minutes, both via the Jubilee line.
Through the Notting Hill Shared Ownership scheme, buyers can purchase between 25% and 75% of their property, paying subsidised rent on the remainder. Residents can increase their ownership share at any time, all the way up to 100%.
Prices start at £107,500 for a 25% share of a two-bedroom apartment at Royal Albert Wharf (full purchase price £430,000) and from £136,250 for a 25% share of a three-bedroom apartment (full purchase price £545,000). A selection of three bedroom triplex apartments are also available, priced from £151,250 for a 25% share of £605,000. For more information, contact Notting Hill Sales on 020 38151234, or visit the website: www.nhillsales.com
Notting Hill Sales are sponsors of the London Home Show Autumn 2017 on 23rd September. For more info and to get your free tickers visit the London Home Show event page.
20th September 2017
Shared Ownership Week returns for its fifth year, 21st - 27th September. Shared Ownership week raises awareness this home ownership scheme which offers a life line to thousands of first time buyers.
19th September 2017
Countdown to the London Home Show Autumn 2017: Our sponsor Crest Nicholson give you the low down on their fantastic development Dylon Works, available via Help to Buy London.
18th September 2017
Countdown to the London Home Show Autumn 2017: Hear Marco and Olga's story about buying their first home for their young family with Notting Hill Sales.
16th September 2017
Countdown to the London Home Show Autumn 2017: L&Q's Lucy Chitty dispells some of the myths about home ownership.
FIRST STEPS is committed to the promotion of all types of accessible housing in London. We want to make the journey into your new home as simple as possible and to be sure that you know what to look for when searching for an affordable accessible home. All developments must be rated according to the type of accessibility they offer. That is why we have the following guide, based on the information provided in the Mayor of London's Accessible Housing Register, to help you understand what the rating of each property actually means.
A - Wheelchair Accessible Throughout
Meets the design standards from the Wheelchair Housing Design Guide which superseded the Housing Corporation wheelchair design standards. These properties have been designed to meet latest wheelchair accessible housing design standards, offering extra space and full access to all rooms and facilities. This standard provides more space than previous wheelchair housing design guidance and also ensures that all rooms are accessibly. In view of the high density of new build housing stock in London, the parking features have been excluded from this category. This will enable wheelchair accessible homes built above ground floor level to be categorised as such.
B - Wheelchair Accessible essential rooms
Complies with the Wheelchair Housing Design Guidance within the Housing Corporation Scheme Development Standards. Properties designed of adapted to provide access for wheelchair users to essential facilities of the property (that is, a bedroom, bathroom, toilet, living room and kitchen). Other rooms in the house such as additional bedrooms or bathrooms may not be wheelchair accessible.
C - Lifetime Homes
Meets the space standards of the Lifetime Homes developed by the Joseph Rowntree Foundation. Designed to meet the space standards of Lifetime Homes. Main features include a level approach/entrance and wider doorways. This category will capture all new general needs housing built to Lifetime Homes standards. Properties achieving this category will not necessarily meet all Lifetime Homes design guidance as the LAHR framework does not assess features other than space and access. Properties may have an internal flight of stairs. If so, these will be wide enough to accommodate future provision of a stair lift subject to technical feasibility.
D - Easy Access
Compatible with the design standards in Mobility Standard Housing (1974) produced by the DoE and Housing Corporation Scheme Development Standards (pre-1999) and Part M of Building Regulations (2000). The main features of these properties include a level approach to the entrance, wider doorways and more space than in general needs housing. These properties may also have an internal flight of stairs and if so, there is enough space to accommodate future provision of a stair lift subject to technical feasibility.
E - Step Free
No published access design guidance. These are properties that are considered general needs housing but have a level approach/entrance into the property and throughout. Properties in this category that have an internal flight of stair will be likely to accommodate future provision of a stair lift subject to technical feasibility.
E+. Minimal steps
No published access design guidance. Properties that do not meet any accessibly housing design guidance and have a limited number of steps to enter the property. Properties in this category will have no more than four steps to access the front door and are likely to be ground floor properties or properties in a block with a lift and a small number of communal or property front door steps.
F - General Needs
General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.
The Accessible Housing Register captures the essential information which determines the category awarded to a property. Additional information is also collected. This includes:
- Details of major adaptations such as level access showers and stair lifts
- Private garden or balcony
- Proximity to local shops
- Proximity to public transport