New homes in Colindale available through NewBuy scheme
The Fairview New Homes developments, Pulse and Rhythm, have become the first in the country to offer prospective home-buyers funding from a new challenger bank through the government’s mortgage guarantee scheme, NewBuy.
NewBuy is the government-backed initiative designed to help overcome the deposit gap faced by many new home-buyers. It is aimed at both first-time buyers and those who already own a home, who only have funds for a 5-10% deposit. For buyers meeting their qualifying criteria, the lenders participating in the scheme will provide a 90-95% loan-to-value mortgage which is guaranteed by the government.
Aldermore is the first of the new challenger banks to join the NewBuy scheme and has chosen to partner Fairview and offer funding to buyers at the Pulse and Rhythm developments in Colindale.
Sales and Marketing Director of Fairview New Homes, Jim Holliday comments: “We are delighted to be able to announce our partnership with Aldermore and to be the first of the UK house builders to work with the new bank. Standing now as one of the best capitalised banks in the UK, Aldermore is an ideal addition to our roster of existing financial partners and will offer our home-buyers a new option in their choice of mortgage provider.”
Pulse is one of the fastest selling developments in London (Molior 2012). It covers 12.5 acres on a site adjacent to Colindale Underground station. When complete, the development will consist of 714 residential units set amongst landscaped gardens with a new public piazza and a restored fin de siècle, Baroque-style landmark building at is core.
The development has already attracted significant interest from home buyers and investors. It appeals to a wide range of buyers with the varied home styles available attracting first time buyers, professionals working in the City, young families and older residents looking to downsize. Half of the apartments have already been sold and independent residential property research specialist, Molior London, quotes the Pulse apartments as the fastest selling new homes in London.
Tim Craine of Molior explains further: “Each quarter, our analysis looks at every sale of a new home within each of the London Boroughs. In both Q4 of 2011 and Q1 of 2012 Fairview’s The Pulse was the fastest selling development in the capital.”
The Pulse offers investors a choice of house and apartments ranging from a simple studio through to a 1298sq ft four bedroom townhouse. The specifications of each home have been carefully designed to combine elegant details with contemporary and stylish living. The high quality finishes include fitted carpets in all living areas and ceramic floor tiles in bathrooms, stylish kitchens, energy-saving appliances, beautifully appointed bathrooms and serene bedrooms.
The Rhythm development is equally popular. With the development so close to the Colindale Underground station, residents at Rhythm are attracted by the fact they can be in Leicester Square in just 25 minutes. Nearer to hand are a large selection of local restaurants, the huge Cineworld Multiplex at Staples Corner and the world famous Brent Cross shopping centre.
Rhythm offers a choice of studio, one, two or three bedroom apartments. The specifications of each home have been carefully designed to combine elegant details with contemporary and stylish living. The high quality finishes include fitted carpets in all living areas and ceramic floor tiles in bathrooms, stylish kitchens, energy-saving appliances, beautifully appointed bathrooms and serene bedrooms.
Prices at Pulse start from £179,300 and, through the NewBuy scheme, will mean that buyers will only need to find £8,965 for their deposit.
For more information, visit fairview.co.uk.
