New research by Halifax demonstrates the increasing inaccessibility of the capital’s property market, as the average first-time buyer deposit soars to £109,146, equating to savings of nearly 25% of the property’s value.*
Providing a lower deposit option for first-time buyers, leading housing association Catalyst has a range of two and three-bedroom Shared Ownership apartments at NEON, Burnt Oak, available to purchase with a 5% deposit from just £8,500.
Recently awarded highly commended for ‘Best First Time Buyer Apartment’ at the First Time Buyer Readers’ Awards 2020, NEON is winning acclaim for meeting the needs of London’s next generation of homeowners.
Only a ten-minute walk from Burnt Oak London Underground Station, buyers have much sought-after transport links close by, with the Northern Line connecting commuters to central London in less than 30 minutes.
Meanwhile delivering ample green space, NEON apartments are centred around a southwest facing podium garden, complete with green landscaping, patio, children’s play area, and elevated views all the way to Wembley Stadium.
Markus Kendall-Young, Group Head of Sales and Marketing at Catalyst comments, “As the average deposit in the capital continues to rise, it is crucial that we find solutionsto help those with smaller savings to be able to access the property ladder. Shared Ownership does just that, enabling buyers to purchase an initial share in their property, and purchase further portions of their home as and when they can afford to. As you only pay a percentage deposit based upon the initial share you buy, this dramatically reduces the amount of savings you need to get on to the property ladder. In the case of NEON, that makes a deposit for a two-bedroom apartment less than 10% of the average London first-time buyer deposit, which really is a terrific amount. It cannot be underestimated the difference that makes in increasing access to home ownership across London.”
Well-designed, contemporary layouts feature the best in open-plan living. High specification kitchens, complete with top of the range appliances, flow into bright living and dining spaces. Large windows flood the room with natural light, while a floor to ceiling glass door leads to a private balcony.
Spacious bedrooms feature modern pendant light fixtures and master bedrooms benefit from fitted wardrobes. An essential for many buyers, the master bedrooms in selected two-bedroom and all three-bedroom apartments feature an en-suite in addition to a family bathroom, while selected three-bedroom apartments also have an additional WC. Homes are generous with storage solutions – each apartment includes a dedicated utility room, as well as further built-in storage units in two and three-bedroom homes.
Located in up and coming Burnt Oak, residents have a range of amenities close by, with Burnt Oak Broadway home to a range of cafes and restaurants such as Café Romana and Twist Dessert Lounge. Conveniently, an ASDA, Morrisons, and Marks and Spencer’s Food Hall are all just a five-minute walk away, whilst for more comprehensive retail therapy, Brent Cross Shopping Centre is just a 21-minute bus journey.
Fitness fanatics can enjoy nearby Burnt Oak Fitness Centre with its split-level gym, sports hall, astro pitch, tennis courts and more. Closer to home, The Arch Climbing Wall has some 11,000 square feet of pure bouldering surface.
Ideal for families, the development falls withing the catchment areas of several popular schools – including nearby Catholic, Jewish, and Hindu schools.
Prices start from £170,000 for a 40% share of a two-bedroom apartment (FMV: £425,000), and £221,000 for a 40% share of a three-bedroom apartment (FMV: £552,500).
For more information, visit: catalyst.homes