First time buyers have been staying local to Barnet thanks to the affordability of properties compared to those in central London.
Linden Homes’ collection of one and two bedroom apartments at its Elmbank development in Arkley, Barnet were released early due to high demand for affordable properties in the area. Of the 35 apartments available, 65% have been bought off-plan with most purchasers moving out of their family homes and choosing to remain close to the nest.
Young professionals have been particularly interested as the one and two bedroom apartments all qualify for London Help to Buy*. A scheme that offers a 40% Government equity loan meaning just a 5% deposit is required with a 55% mortgage– a loan that can be repaid at any time within the first 25 years - and is interest free for five years.
Aileen Skerman, a first-time buyer and Linden Homes’ customer, believes that without London Help to Buy, she and her partner would still be renting:
“We couldn’t have bought our new Linden Home without London Help to Buy: We went from a two bedroom rented flat (the second bedroom was very small) to a brand new, spacious and beautifully finished one bedroom Linden Homes’ apartment in the same area of London - and yet now we are better off because our mortgage payments are a third cheaper every month than our rent was.”
The Elmbank apartments at Thistle and Willow Court are fitted with sleek designer kitchens and spacious bathrooms. The open-plan layout of the living and dining rooms creates more room for socialising while the study can be used as a home office for commuters.
Simon Pendlebury, sales and marketing director at Linden Homes Chiltern, commented:
“Our two bedroom apartments start at £520,000, which is already much lower than those situated in central London and with the added assistance of Help to Buy London this makes these properties considerably more affordable for young professionals.
“Our Elmbank development is located less than 15 miles from London so buyers are not only reaping the benefits of living close to the City but they also have the bonus of being surrounded by green and open space - offering a perfect balance of city and country living. We would encourage anyone struggling with London’s competitive property ladder to visit Elmbank to secure one of the apartments still available.”
Other properties at Elmbank include the Cedar Collection, a range of luxury semi-detached four bedroom houses available with Linden Homes’ Part Exchange scheme. The next phase of homes, 14 apartments known as ‘Hawthorne Court’, are due to be released this summer.
For more details or to register your interest in an Elmbank apartment, please call 02038 115 283. The sales and marketing suite is open daily from 10am to 5pm.
Media can contact Emma Cox or Alice Simpson at Remarkable Group firstname.lastname@example.org / email@example.com or 01962 893893, for more information, images and interviews with Linden Homes.
27 April 2017