Figures recently unveiled from Your Move confirmed the monthly cost of rent for homes across England and Wales rose to an all-time high of £846. According to the buy-to-let Index, the biggest year-on-year increase occurred in south-east England, with rental costs rising by nearly 15 per cent to £924 as people moved out of London to escape the capital’s high rents.
Since graduating from Hertfordshire University two years ago, Sian Tyler (25) and Joe Malloy (24) didn’t expect to get a step on to the property ladder as quickly as they did but now, having avoided the rental trap, the couple are new homeowners living in Hemel Hempstead at the Linden Homes development, Nash Mills Wharf.
New homeowner, Sian said: “Renting was never a route we wanted to take so we decided to remain living with our families to help save for that all important deposit for a home together. Joe and I both had our hearts set on living at Nash Mills Wharf and as it has been such a popular development in the area, we had been concerned about the apartments all selling out before we had our deposit together. However, by using the Help to Buy scheme, we were thrilled when we managed to secure a plot off plan last October.”
After securing their new two bedroom apartment, the couple watched in anticipation as their new home was constructed ahead of moving in this September.
Moving from Leavesden, a small village nearby Watford, the new neighbourhood is much quieter than Sian first expected from living in a larger community: “The development has a really great community vibe but it can also be nice and tranquil. The apartments are nearby the canal so we like to enjoy a Sunday walk along the waterside with a stop off at the local pub. Kings Langley is also only about a 30 minute walk where there are plenty of restaurants and shops.”
Nash Mills Wharf is ideal for commuters like Joe who works in recruitment in London. The development is within walking distance of Apsley train station which offers regular services into Euston in less than half an hour.
Simon Pendlebury, sales and marketing director at Linden Homes Chiltern said: “The all time high rental cost issue, is something that continues to pinch the purses of those in their twenties and into their thirties so it is great that Sian and Joe have been able to avoid the trap of renting and become homeowners.
“The increase in rent costs has spurred lots of renters to come and speak to our team at Nash Mills Wharf as they are attracted by the affordability especially when utilising the Help to Buy scheme. Buyers here can expect to be paying just £831.31 per month compared with an average rental cost of a similar sized property of between £1,100 and £1,400 per month.”
The apartments at Nash Mills Wharf all qualify for the Help to Buy scheme* which enables buyers to purchase a new home with just 5% deposit and a 20% Government equity loan – a loan that can be repaid at any time within the first 25 years - and is interest free for five years.
For more details on the apartments currently available, please call 01923 708 346, or visit the sales and marketing suite on site, open every day from 10am to 5pm.
Media can contact Emma Cox or Alice Simpson at Remarkable Content on 01962 893893 for more information, images and interviews with Linden Homes.
20 January 2017