Apart­ments to launch in new­est prop­erty hotspot

Harefield Gazette - - UXBRIDGE PROPERTY -

6 was ‘Pen­sion Free­dom Day’, mean­ing that from that date any­one who cashes in a pri­vate pen­sion plan is no longer re­quired to buy an an­nu­ity, an in­sur­ance con­tract that pays a guar­an­teed in­come for life, and in­stead can cash in their sav­ings and use the money as they wish.

The num­ber of cheap deals on the mar­ket has risen more than three-fold in a year, with the av­er­age two-year rate drop­ping from 3.7% to 3.45% in just six months, and pen­sion­ers are be­ing tempted into tak­ing a punt on the proper ty mar­ket.

New re­search from Money­facts, which analy­ses fi­nan­cial prod­ucts, shows that in­vestors can choose from no fewer than 226 dif­fer­ent fixed-rate deals com­pared to 162 six months ago and 71 a year ago. It de­fined this as two-year fixed deals be­low 3% or five-year fixed ar­range­ments with a rate un­der 5%.

The new pen­sion rules have grown the po­ten­tial pool of buyto-let in­vestors, with those over 55 able to ac­cess their money more eas­ily, although sub­ject to their own mar­ginal tax rates and, fur ther­more, be­cause lenders face fewer rules on buy-to-let mor tgages. This is be­cause it is treated as busi­ness lend­ing, in con­trast to res­i­den­tial lend­ing which is tightly reg­u­lated by the Fi­nan­cial Con­duct Author­ity.

Char­lotte Nel­son of Money­facts said, “Buy-to-let mor tgages are experiencing a re­nais­sance, be­com­ing not only more widely avail­able but cheaper too.”

But those look­ing at this route as an al­ter­na­tive to a pen­sion need to look at all as­pects of the mor tgage.

Many lenders re­strict the age peo­ple can bor­row up to, so older bor­row­ers would be wise to seek the guid­ance of a fi­nan­cial ad­viser who can ac­cess a larger por tion of mar­ket. With easy sav­ings to be made you are now likely to be re­coup­ing more in rent, which will al­low you to get a big­ger re­turn on an in­vest­ment.”

For nearly 20 years Gibbs Gille­spie has helped proper ty in­vestors min­i­mize risks and max­i­mize re­turns on proper ty in­vest­ment. We can ad­vise you all the way, but the fi­nances need to be re­viewed care­fully. Pen­sion savers need to plan tax­ef­fi­cient with­drawals of their money or could face large bills from HMRC!

PAUL GILLE­SPIE; 020 8426 1972; pgille­spie@gibb­s­gille­spie.co.uk; www.face­book. com/gibb­s­gille­spie;Twit­ter: @ gibb­s­gille­spie

AL­BANY House is a brand new devel­op­ment of apart­ments from es­tab­lished de­vel­oper, Howarth Homes Plc, due to launch in West Lon­don’s new­est prop­erty hot spot,West Dray­ton next Fri­day (5 June).

Al­bany House is the lat­est phase of new homes to join the Howarth Homes ‘West Dray­ton Col­lec­tion’ and will of­fer a stylish col­lec­tion of one and two bed­room apart­ments. Set in a con­ve­nient lo­ca­tion, mo­ments from West Dray­ton sta­tion and shops, the apart­ments will be avail­able to pur­chase off-plan.

With com­ple­tions less than 12 months away, they will ap­peal to in­vestors and owner-oc­cu­piers alike due to the su­perb pre­sen­ta­tion, de­sign and lay­out they of­fer.

Ni­cholas Jor­dan, of Cameron Group, com­mented: “With the ar­rival of Cross­rail fast ap­proach­ing, de­mand for homes in West Dray­ton has soared way ahead of ex­pec­ta­tions. In the last 12 months alone we have launched over 180 new build apart­ments in West Dray­ton across a mix of schemes, and sold within lit­er­ally days of be­ing re­leased.

“De­mand has been such that be­tween 85% to 90% of ev­ery phase of apart­ments re­leased for sale was re­served on the launch week­end, with any re­main­ing units be­ing sold soon af­ter. Many of the prop­er­ties have been pur­chased by for­ward-think­ing in­vestors an­tic­i­pat­ing a sig­nif­i­cant cap­i­tal growth in the value of their prop­er­ties.We there­fore ex­pect Al­bany House to be equally well re­ceived.”

The lo­cal­ity

Pric­ing and avail­abil­ity

Prices are ex­pected to start from

AL­BANY HOUSE:

This new col­lec­tion of apart­ments in West Dray­ton, mo­ments from the sta­tion and shops, will be avail­able to pur­chase off-plan.

West Dray­ton train sta­tion of­fers regular ser­vices into Lon­don Padding­ton with jour­ney times of just 25 min­utes, or to Read­ing in 33 min­utes. From 2018, res­i­dents will ben­e­fit from the Cross­rail Sta­tion, fa­cil­i­tat­ing rapid travel to Bond Street in 23 min­utes or Ca­nary Wharf in 37 min­utes. Easy prox­im­ity to the M4 and M25 pro­vides in­stant ac­cess to the road net­works across the South East. In ad­di­tion, Heathrow Air­port is also close by, and will be ac­ces­si­ble in just eight min­utes with Cross­rail.

£219,995, with rental yields fore­cast at just un­der 6%.The apart­ments rep­re­sent an at­trac­tive propo­si­tion for in­vestors.

Along­side the healthy monthly re­turn, on­go­ing in­vest­ment in the sur­round­ing area, in­clud­ing the ar­rival of a Cross­rail link from West Dray­ton Sta­tion, in­di­cates po­ten­tial ap­pre­ci­a­tion in value for prop­erty re­sale in the mid to long term.

The scheme will be re­leased in a sin­gle phase on 5 and 6 June at the West Dray­ton of­fice of Cameron Es­tate Agents, 115 Sta­tion Road,West Dray­ton, UB7 7LT. For fur­ther in­for­ma­tion or to reg­is­ter for de­tails of the launch week­end, please con­tact Cameron Es­tate Agents on 01895 444 424 or email al­bany­house@ cameron­group.co.uk

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