Hyde New Homes’ Eastman Village, located on the site of the former Kodak factory, will be hosting a mortgage workshop event on Saturday November 20th, in a bid to provide expert information about shared ownership mortgages, while giving an overview of the market, affordability, eligibility and how to buy more shares of your home.
With recently published statistics from Rightmove revealing that property sales in Harrow have increased by 13% compared to the previous year, it comes as little surprise that savvy buyers are seeking alternative options to get onto the property ladder.
With this in mind, Minnie Dando, Head of Marketing and Communications at Hyde New Homes believes that choosing shared ownership is a fantastic way to get onto the London property ladder. She said: “With the average price of a home in the area reaching £535,903, shared ownership is the more affordable option, and comes with the attraction of a low deposit and affordable monthly payments. Typically, a two bedroom apartment at Eastman Village would be priced at £446,000. A 30% share would require a minimum deposit of £6,690 with monthly payments including £667 mortgage, £715 rent and a £183 service charge.”
Hyde New Homes has also recently announced that it is offering a rent-free incentive for six months on selected homes. Minnie explains: “With our homes in Beaton Apartments, we are offering six month’s free rent which can save buyers up to £5,682.18 on a three bedroom home. As well as this, our reservation fee is just £99 and, combined with a 5% deposit, we are confident that this makes for a very affordable option for those looking to get a reasonably-priced, good quality home in London.”
Eastman Village forms part of a £1.75bn regeneration programme endorsed by Harrow council, and Hyde New Homes will oversee the launch of its one, two and three bedroomed apartments in the first phase of its exciting new residential quarter, conveniently located in the heart of town. Furthermore, the wider area is undergoing a huge period of growth and will see around 2,000 new homes, offices, restaurants and cafes set against a stunning landscaped park which will serve as a new green link.
Minnie added: “We are extremely proud of this wonderful development and will continue to help buyers achieve their homeownership dreams by providing as much education, support and opportunities as possible. We look forward to welcoming people to our shared ownership mortgage workshop in November and hope it will be beneficial to those seeking information and advice on this huge and sometimes daunting topic. You never know, you could end up moving into your very own Hyde New Home before Christmas!”
The workshop will run from 10am-4pm at the Eastman Village development. To book an appointment, please call 0345 606 1221.