Notting Hill Genesis are trying help to lower the hurdle of buying thanks to Shared Ownership and potential home buyers will be happy to hear that they are able to secure a London home with a deposit of just £10,875* at Royal Albert Wharf.
According to recent research from Nationwide Building Society, the high house price to earnings ratio in the last decade has made securing a deposit a major barrier for first time buyers.
Shared Ownership offers aspiring buyers the opportunity to buy a share of a home’s value, between 25% and 75%, while paying a subsidised rent on the remaining share. With Shared Ownership, buyers need only put down a deposit on the share they purchase and not the full market value of the property, which brings the cost of buying a home down. Buyers can choose to purchase a further share in their property as and when they can afford to, right up to 100%.
Jim Munson, Head of Marketing at Notting Hill Genesis comments: “Royal Albert Wharf is the ideal place for aspiring home owners to put down roots. Surrounded with opportunities to relax with plenty of riverside walks, arts workshops and maritime past times, the development truly is the ideal home for those looking to take their first steps towards home ownership. With a stunning riverside location and easy connections to the City, it’s not surprising that the Shared Ownership homes at Royal Albert Wharf have been in demand, with more than 65% of properties now under offer. We urge those interested to book a viewing today.”
The apartments at Royal Albert Wharf have been thoughtfully planned to make the most of the waterside setting, large windows fill apartments with plenty of natural light and the open plan interiors offer dual aspect river views in selected homes. Properties are also equipped with their own outside space in the form of a private balcony or terrace, providing the perfect place to relax and take in the London skyline, as well as acting as extra space when entertaining during the summer.
There are plenty of spaces to relax and unwind after a busy day with a network of paths and open green spaces on the doorstep. Adrenaline junkies, or those looking to try something new will also enjoy The London Regatta Centre and Royal Docks Adventure, which are both just over a mile from the development, and provide the opportunity to take up Dragon Boat racing, rowing and sailing. For those looking for a more laid-back lifestyle a lively social scene of cafés and restaurants line the dockside.
Commuters have access to excellent transport links. Located in Zone 3, Royal Albert Wharf is a few minutes’ walk from Gallions Reach DLR station, from where buyers can connect to Canning Town is just 11 minutes, Canary Wharf in 19 minutes, and London Bridge and Waterloo in under 30 minutes via the Jubilee Line. Along with the anticipated launch of Crossrail from nearby Custom House, these two new ventures will further transform the Royal Docks into a major transport hub.
The starting price for a two-bedroom apartment at Royal Albert Wharf is £108,750 for a 25% share of £435,000. Three-bedroom apartments are available from £130,000 for a 25% share of £520,000. For further information or to arrange a viewing please visit www.nhgsales.com or call 0344 809 2016.