London Home Show Countdown: Catalyst New Homes

Getting more for your money with Catalyst

London’s competitive property market can feel overwhelming, especially as the average first time buyer deposit for the capital has swelled to over £130,000 in over the last year.

Luckily with alternative home ownership schemes such as Shared Ownership and Help to Buy, first time buyers on the hunt for their dream London home have a much-needed lifeline.

Shared Ownership is a government-backed part-buy, part-rent scheme that allows buyers to purchase a percentage share of their home and pay rent on the remaining portion. This initial share purchased can be between 25% – 75%, giving buyers the flexibility to purchase what they can afford.

Buyers will usually need a 5% – 10% deposit and mortgage to cover the share they are buying, helping to dramatically lower the savings needed to get on to the property ladder, compared to buying on the open market.

To be eligible for the scheme you must be a first time buyer so you cannot already own a home, or part of a home, at the time of completion. Additionally, your household income cannot exceed £90,000 – or £80,000 if buying outside of the capital.

Show Home photography by Catalyst - available on Share to Buy

Help to Buy is another popular alternative for first time buyers. Through Help to Buy, purchasers can receive a government equity loan of up to 40% of their property’s value in London, or 20% if buying outside of London, helping towards the cost of buying their new home. Buyers need a minimum 5% deposit and a mortgage to cover the remaining costs of the home.

To be eligible for Help to Buy, as of April 2021, you must be a first time buyer. Additionally, regional price caps have been introduced, based on predicted averages in each region of the country. However, the London price bracket remains unchanged at £600,000. Find out more about the regional price caps here.

Catalyst offers a variety of developments perfect for first time buyers looking to get on the property ladder through Shared Ownership or Help to Buy/ We’ve shone a spotlight on two of our favourite London developments.

Show Home photography by Catalyst - available on Share to Buy

In central Southall, West London, ARRO presents a stylish route onto the property ladder in the heart of The Green Quarter. Part of one of London’s most ambitious regeneration projects, ARRO is a collection of studio, one and two bedroom apartments, offering one of the first opportunities to buy in this new neighbourhood. Modern apartments are finished to Catalyst’s customary high standard and each home, including studio apartments, is complete with a balcony or terrace offering residents sought after private outdoor space.

While nearby in the leafy urban village of Hanwell, West London, Aspire at St Bernard’s Gate is a collection of one and two bedroom apartments available through Help to Buy. Spacious open-plan apartments feature floor to ceiling windows that flood the living area with natural light while select bedrooms include walk-in wardrobes. With outgoings totalling from just £823.35 per month for a one bedroom apartment and £980.19 for a two bedroom apartment, Catalyst’s monthly costs are an impressive 34% less than average rentals in the area.

Find out more about Eligibility and Affordability at Catalyst’s seminar at this year’s Virtual London Home Show on Saturday 24th April. Catalyst’s sales team will be available for one-to-one appointments, so you can find out more about their range of developments across in and around London.

Show Home photography by Catalyst - available on Share to Buy

The capital’s no.1 first time buyer event is going digital for the first time on Saturday 24th April! Register for your FREE ticket to the Virtual London Home Show to find out more about Shared Ownership, Help to Buy and the buying process.