The first affordable homes in London on the Help to Buy scheme
Amazing studio apartments from £195,000 at the Papermill House, a new residential development in Romford in the Borough of Havering.
Over 1,000 buyers have already registered for 115 flats which are available on the Government Help to Buy scheme, providing a loan for up to 40% of the cost and requires a deposit of just 5%. The development is launched by Housebuilder Galliard Homes.
This is a unique opportunity, especially for the first time buyers to get a foot on the property ladder, as the prices in London have significantly surged after the lockdown, and it’s almost impossible to purchase a property for less than £200,000.
The Papermill House is a six-storey building in a converted flour mill in Romford with 115 flats. The smallest studios are about 300 sq.f. (£640 per sq.ft). One-bedroom flats are priced at between £220,000 and £250,000.
Every buyer will be also gifted a free furniture package worth £10,000 or £15,000 dependent on the apartment value, as well as a service charge contribution of £1,000 per year for the first three years.
David Galman, sales director at Galliard Homes, said: “Papermill House is the most exciting launch of the year for first-time buyers; requiring a Help to Buy assisted mortgage of just £140k, these are the best value homes in London.
“This is the opportunity for those who never thought they could own a home to buy at a stylish, affordable scheme.
“Galliard has not launched a scheme of this value for first-time buyers for five years, this is an exceptional opportunity and we anticipate huge demand from Londoners to secure their first home.”
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