London Help to Buy scheme:pre-Brexit slump boosts choice for first-time buyers with new flats in Catford, Hendon, Wembley and Putney Rise

London's new homes builders are promoting the Help to Buy scheme for first-time buyers following a pre-EU referendum slump in sales, with new flats for at Catford Green, Hendon Waterside, Olympic Way in Wembley, and Putney Rise. 

Typically, first-time buyers in London would need to come up with a 20 per cent deposit to buy a new-build home.

This means for flats priced at £450,000, buyers need to find an eye-watering £90,000 to seal the deal. But, under the Help To Buy scheme, they need five per cent of the purchase price and a smaller mortgage loan of 55 per cent.

The Help to Buy scheme is continuing to keep dreams of home ownership alive for young Londoners. Under this scheme, the required deposit equates to five per cent of the purchase price, alongside a smaller mortgage loan of 55 per cent.

James Woodhall, 29, is a management consultant at professional services firm PwC and a DJ in his spare time.

James used a 40 per cent Help to Buy loan to land a new £450,000 one-bedroom flat at Titanium Point in Bethnal Green.

James Woodhall purchased his first home at Titanium Point in Bethnal Green

The development is by social housing landlord Guinness Trust, which aims to help first-time buyers on to the property ladder. Call 0300 456 0522. 

Most well-known house builders offer homes under the Government’s loan scheme, but there is no central register of available developments, so you have to do your own legwork. 

Barratt is promoting Help to Buy after a pre-EU referendum slump in sales, unveiling new phases at Catford Green, Hendon Waterside, Olympic Way in Wembley, and Putney Rise. 

From £390,000. Call 0844 811 4321.

Without Help to Buy, a first-timer in London typically would need a deposit of about £90,000. Under the scheme, buyers need just five per cent —typically between £10,000 and £25,000 — of the purchase price and only require a mortgage for 55 per cent.

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