Genesis has launched the latest phase of new homes at its New Hendon Village development in Colindale, North West London.
The scheme is proving popular with a range of homebuyers, including first time purchasers who are being offered the opportunity to secure a brand new apartment with just a 5% deposit, thanks to the FirstBuy initiative, ensuring that new homes at the development are available with a deposit from £7,600.
The new block of one- and two-bedroom apartments is set within parkland, with prices starting from £190,000, whilst two-bedroom apartments start from £230,000.
The new build apartments either feature a terrace or balcony, whilst some of the two-bedroom properties feature two-balconies, offering alternative views of the surrounding areas.
To qualify for FirstBuy the applicant's household must earn less than £60,000 a year and be unable to finance a property in the area where they currently live or work. An equity loan of up to 20% of the property price will be provided meaning the purchaser only needs to arrange finance for the remaining 80%, which can be done by arranging a market rate mortgage in addition to the 5% deposit. The buyer can then purchase up to 100% equity in the property in instalments after they have moved in, or proportionally share the remaining equity of the house when it is sold at the current market rate.
New Hendon Village is part of Barnet's on-going regeneration, with good retail, social and transport facilities. New Hendon Village is near Colindale Underground Station which is served by the Northern Line.