Like many couples, the idea of home ownership seemed to be out of reach unless a move out of London was on the cards. But after many years of renting, Edward Cady and his wife were extremely curious to watch a new Higgins Homes development emerge, especially when the design would mean a home to adapt to their needs.
Morgan Place on Neasden Lane in Willesden is a mixed-use development comprising 47 apartments and commercial space. The couple were renting nearby and watched as it was built up.
“We were living just a few streets away and registered our interest at the beginning of the build,” says Edward. “The initial prices were out of our budget but then we found out about Help to Buy and that was a complete revelation to us and we decided to buy a property at Morgan Place within a week of viewing. We had been looking at properties since May 2016 and the budget we had probably wouldn’t have even stretched to a studio if we were buying on the open market.”
Help to Buy is a Government backed scheme designed to help anyone struggling to save a deposit for their first home or move up the property ladder due to limited equity. The Equity Loan scheme is only available on new build properties and the buyer is only required to raise 5% of the property value as a deposit. Furthermore, within Greater London, the Government will lend up to 40% of the cost of the home and the buyer will not be charged loan fees for the first five years of owning the property.
Edward is a part-time accountant and his wife also works part-time as a project manager. They also both do voluntary work, which has financially impacted their ability to get on the housing ladder.
“We looked at everything in our budget and were keen to not overstretch ourselves financially each month,” says Edward. “But that didn’t leave us much choice so we were blown away when we viewed the one-bedroom apartment at Morgan Place.
“We looked at the imagery online and we were hoping that an apartment in our budget would be as nice but we didn’t imagine how good it would actually be. The space was bigger than many of the one-bedroom apartments we had seen before and the fixtures and fittings were lovely. Everything was finished to a really high standard; the bathroom feels like it could be from a smart hotel. I also like the way that the home has been future-proofed with the inclusion of cablings and sockets for every possible option so the designers at Higgins Homes have really considered how people will want to live in the space. The apartment we have chosen is opposite green trees so it is lovely looking out to peaceful, green space. We also have access to a communal terrace which we definitely plan to use in warmer months.”
As first-time buyers, Edward did lots of research but still had a number of concerns in respect of the process. “It can be quite intimidating but it went a lot smoother than I imagined,” explains Edward. “The sales staff at Higgins Homes were very helpful, friendly and professional and did a good job at talking us through the different stages.”
The couple have been settled into their home for the last few months and are already enjoying the benefits of being a homeowner. “Our car insurance has now gone down because we are viewed as being more secure,” says Edward. “But the main benefit is that we are paying less than half of what we would be paying if we were renting the same type of accommodation. If we want to sell in five years, we won’t even have to pay any interest. Help to Buy has been transformative and we really appreciate the life it has now given us, enabling us to continue working part-time and enjoy a really high standard home.”
Morgan Place is ideal for commuters because it is located just 7 minutes’ walk from Neasden London Underground Station on the Jubilee Line, with journey times of approximately 20 minutes into the Capital. For local shopping and entertainment amenities, there are plenty of bus routes to get you to the renowned centres of Brent Cross and Westfield.
Prices at Morgan Place for the remaining two bedroom apartments range from £399,500 to £499,500 and the homes are available to purchase through the Help to Buy scheme. To view the show apartment or for more information call 020 8459 2804, email: firstname.lastname@example.org