First-time buyer homes in south-east London: flats for sale with Help to Buy available, on the Greenwich-Deptford boundary

Young Londoners can climb onto the property ladder if they consider buying off-plan while taking advantage of low mortgage rates and the government’s Help-to-Buy scheme.

From £514,995: two-bedroom apartments at Kent Wharf, a Bellway Homes scheme on the Deptford/Greenwich boundary

David Spittles10 July 2017

Buying off-plan, before the property is ready to move into, can work well for first-timers who want more time to save for a deposit. Add in low mortgage rates and the government’s Help-to-Buy scheme, and the financial challenge of getting on the property ladder suddenly becomes a bit easier.

This set of circumstances has turned out favourably for Nick Kershaw, 32, who relocated to London from Manchester five years ago for a job in the catering industry. For most of that time he has rented in Hendon, plotting a way to buy a flat of his own.

He looked at properties north and south of the river and seized an opportunity to buy at Kent Wharf on the Greenwich-Deptford boundary.

He who waits: Nick Kershaw queued up (© S Saunders / Digital Nation Ph)

“I queued for four hours to be first into the sales centre when they launched the flats.

Mr Kershaw paid £402,500 for a fourth floor apartment overlooking Creekside, a former industrial waterway that runs into the Thames. By taking advantage of a 40 per cent Help-to-Buy loan, the deposit he has to pay is £20,125. And he has another six months to save before the flat is ready.

“My monthly outgoings will be about £200 per month less when I move in, because mortgage payments are quite a bit cheaper than the rent I currently pay,” he says. “I’m still pinching myself that I’ve been able to do this. It’s such a cool area. Plus there’s a big Waitrose store opposite and Greenwich Park is a short walk.”

Two-bedroom apartments at the development cost from £514,995. Call Bellway on 01689 886400.