Gemma Davies (29), a TV Producer currently renting a room in a shared property in Fulham, is now preparing to move into her new two bedroom apartment at Countryside and L&Q’s Acton Gardens development in West London. Gemma has been saving to buy her dream city pad since she moved to London in 2009, and in order to make her dreams a reality, Gemma used the new Government backed London Help to Buy scheme. By doing so, she has actually decreased her monthly mortgage payments compared to the rent she was paying and bought a bigger property than she thought possible!

To qualify for the new Help to Buy London scheme, Gemma needed a deposit of 5% and a mortgage for up to 55% of the value of the home. The Government then provided an equity loan of up to 40% of the property’s value, which is interest free for the first five years Gemma lives at Acton Gardens. Here’s Gemma’s thoughts:

 

Beginning the process of becoming a first time buyer

I had been saving to buy my first home since I moved to London six years ago, but I got caught up in the city life and put buying on the backburner. In May last year I moved in with my friends after my personal circumstances changed and this gave me the final push I needed to stop wasting my money on renting and start looking to purchase my own home.

Buying new over old

I knew from the outset that I wanted to buy new, because on top of the Help to Buy scheme being offered, the modern properties boast a high specification inside and look just as great on the outside, offering brilliant value for money, particularly in London areas. New build properties also come with a NHBC warranty meaning the purchaser doesn’t need to worry about structural damage for the first ten years after moving in.

I came across Acton Gardens almost by accident, it’s on my route to work making it a perfect choice for me in terms of travel. I was immediately impressed with the homes and unlike buying an older property, there was a sales team on hand to go through all the details and explain everything about the development clearly to me. Unfortunately the two bedroom apartment I wanted was slightly out of my price range, so I continued my search.

Affording an apartment in a London location

I’ve always kept up to date with property news, and as a first time buyer, I think it’s an essential thing to be ‘in know about’ otherwise when the London Help to Buy scheme was announced in the Autumn, I wouldn’t have realised that I could afford my dream home! I was very excited as I had almost resigned myself to purchasing either a one bedroom apartment, or moving further out of the city. I have had my heart set on Acton Gardens from the beginning, so with the help of London Help to Buy, I get my dream home, and I’ll be paying less than my current rent. I am extremely pleased that the London Help to Buy scheme has enabled me to get the property I wanted, at a price I could afford. I’ve already told all my friends and colleagues to look into it and would definitely recommend it to anyone else who asked!

At Countryside, London Help to Buy is available on almost all of our developments in Greater London plus we also offer our Bank of Mum and Dad scheme. You can also see our Helping You To Buy page on our website, where you can find details of the different purchaser schemes available to help make your home buying process easier. We have an experienced team that will do everything they can to help you move and to take the stress and worry out of the process.

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