Help to Buy makes dreams come true in Chingford

« Back to News & Events | 04 March 2014 | Local Events

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Help to Buy is making dreams come true for Chingford’s first-time buyers, according to Fairview New Homes.

Fairview is building 1, 2 and 3-bedroom apartments and 3 and 4-bedroom houses at Connect in The Ridgeway, where Chingford Municipal Offices previously stood.

Fairview says 85% of purchasers at Connect have used Help to Buy to bring home ownership within their reach.

With Help to Buy you can purchase a new home with just a 5% deposit and a 75% mortgage. The remaining 20% is provided by the government as an equity loan which is interest-free for 5 years.

Fairview Sales Director, Steven Allenby, said: "“Not surprisingly the demand has been substantial, with every property released being sold immediately, with the proportion of people using Help to Buy being staggering.

"“The vast majority of buyers are local people who say they have been waiting for an affordable way to purchase their first home without having to leave the area."

“Indeed, the uptake of the Help to Buy scheme has been popular across all property types, from 1-bedroom apartments to 4-bedroom houses.

People are buying everything from one-bedroom apartments to four-bedroom houses with Help to Buy.”

A second phase of homes at Connect is due to be released this month (March) and Help to Buy will continue to drive sales.

Steven Allenby said: "“This scheme has had a profound impact on the property market. In areas like Chingford, where there has been a particular shortage of new homes, people want to take advantage while they can."

“Fairview is proud to be giving a brownfield site a new lease of life and providing the homes the community here needs.”

The Ridgeway had been home to Chingford Urban District Council since the Town Hall was built in 1929. The town hall and L-shaped office buildings were later used by the London Borough of Waltham Forest, which is now based in Walthamstow. The offices were vacated 6 years ago and the modern buildings were demolished in 2012.

Fairview will transform the disused town hall building into 5 luxury apartments as part of a later stage of the development.

Connect is open daily from 10am to 5pm. To register your interest call in, see www.fairview.co.uk or call 0800 883 0350.

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