Launch of apartments in prime canal-side location
SALES • LETTINGS • NEW HOMES • COMMERCIAL • FINANCE • P R I VAT E S A L E S • D I R E C T O RY
government’s Help to Buy mor tgage guarantee scheme is to end, chancellor Phillip Hammond has announced. New loans will no longer be available after the end of 2016, which gives us an oppor tunity to reflect on the scheme.
A letter to Mark Carney of the Bank of England revealed that the chancellor considered the scheme a success, more than two years after it was officially unveiled in October 2013.
Designed to help those struggling to save a deposit, the Help to Buy mor tgage guarantee scheme was a ‘behind-the-scenes’ arrangement between government and lender to encourage banks to hand out 95% mor tgages. This has helped more than 86,000 households onto the proper ty ladder, with the average proper ty price under the scheme significantly lower than the national average.
It is not likely that many will mourn this decision, as government subsidised high loan-to-value lending is difficult to fully suppor t without considerable qualms and reser vation.
The concern for first-time buyers struggling to save that initial lump sum for a deposit does return into focus with this announcement.The Help to Buy ISA and the Equity Loan schemes will remain, which provides some suppor t, and concentrates government help toward those looking to buy new builds, which also ser ves to keep new homes being built.
What is welcomed in the chancellor’s conference speech is the commitment to investing in building new homes. We are unfor tunately ver y accustomed to hearing talk of this; the preceding government was vocal on this issue whilst simultaneously holding the worst record on building homes of any government since 1923. £5bn has been earmarked as par t of the “Accelerated Construction” and “Home Building Funds” schemes, designed to stimulate the building of more than 40,000 homes by 2020.
First home buyers will now have to look at new builds to best take advantage of Help to Buy. At Cameron, we are specialists in both new homes and buying off plan, and have abundant experience in helping households to get into their dream proper ties.
LEADING housebuilder Redrow is delighted to announce the launch of a brand new collection of homes in West Drayton taking place on Saturday October 22. The new development will feature a contemporary collection of, one, two and three bedroom apartments as well as a selection of studio suites.
Conveniently located opposite West Drayton train station, Padcroft is being built on a 2.5 acre site on a prime canal-side location in the town centre, with many of the new homes enjoying waterside views.
West Drayton benefits from excellent road, rail and air links. There are fast rail connections to London city centre and Heathrow Airport as well as good access to both the M4 and M25.
With the arrival of Crossrail in 2019, travelling times will be significantly reduced; the West End will only be 23 minutes away and Canary Wharf just 37 minutes away by train.
These luxuriously appointed apartments will appeal to both investors and owner-occupiers. As well as the fantastic transport links, the development will also benefit from close proximity to Stockley Park, one of the largest business parks in Europe, and Brunel University.
The homes at Padcroft have been designed to meet the demands of modern day living. Featuring high quality specification throughout, the interior-designed, fully fitted kitchens boast contemporary handleless cabinets and feature lighting, and arecomplemented by a full range of Smeg appliances including a fridge freezer, cooker, microwave and washer/dryer.
Elegant bathrooms are presented with porcelain wall and floor tiles and an electric heated towel rail as well as a wall mounted washbasin,WC with concealed cistern and a bespoke designed vanity unit.
Director of Cameron Group and local property expert, Nicholas Jordan, commented: “The property market in West Drayton has been rising steadily over the last two years. I anticipate that prices may well continue to increase in value for the
LUXURIOUSLY APPOINTED:
Padcroft is a new development of high-spec apartments in West Drayton, many of which enjoy waterside views.
foreseeable future as the completion date for Crossrail gets closer.”
Tina Dedman, divisional sales director at Redrow, said: “Following significant investment in the locality, with hundreds of new homes being built and new shops opening on the high street,West Drayton is now considered one of the most desirable property hot spots within the London Borough of Hillingdon.With local agents expecting a continued increase in the capital value of properties sold off plan, we believe that the high demand for new build property in the area will continue.”
The apartments will be priced from £315,000, for further information please call 0203 553 9287 or visit www.padcroft.co.uk