According to recent figures, 2018 saw the number of first time buyers reach a 12 year high with 370,000new first time buyer mortgages completed, a 1.9% increase on 2017.
With interest rates still at an all-time low and schemes such as Shared Ownership and Help to Buy readily available, there has never been a better time to get on the property ladder.
One such development which is ideal for those looking to own their first home is ARRO, Catalyst’ latest exclusive development of contemporary homes set on the banks of the historic Grand Union Canal, in the bustling heart of vibrant Southall.
ARRO offers a selection of studio, one and two bedroom apartments which are available through Shared Ownership and have been thoughtfully designed to encompass the right balance of stylish contemporary living and welcoming cosy home.
Gareth Gow, Area Sales Manager at Catalyst comments, “Shared Ownership is an excellent solution for people who may think they can’t quite afford to get on the property ladder but are tired of spending vast amounts of money on rent or living with their parents.
“The scheme allows those with a maximum household income of £90,000 to purchase a share of the property and pay subsidised rent on the rest. The combined monthly costs of your rent and mortgage will normally be a lot less than buying a property on the open market, and sometimes even renting, making this an excellent option to get on the London property ladder.”
Each apartment is finished to a high specification with contemporary stone-grey Commodore kitchen, white Silestone composite work tops, integrated oven and hob, fridge/freezer, dishwasher and washer/dryer as well as flooring throughout.
ARRO is part of West London’s new vibrant village, Southall Waterside which will provide leisure and retail facilities, entertainment offerings including two new parks and new fitness trails.
Those living at ARRO will also benefit from its location close to the forthcoming Crossrail which is set to transform the Southall area with increased investments, wide economic benefits and projected rise in house prices. It will provide significantly faster journey times to key destinations such as Bond Street in just 17 minutes and Stratford in little more than half an hour.
Southall is a multicultural, vibrant and lively place to live with an array of award-winning restaurants, cafes, art and entertainment. Home to ‘The Broadway’, Southall is filled with boutiques, shops and abundant market stalls selling produce not readily found elsewhere in London.
Shared Ownership prices start from £112,000 for a 40% share of a studio (full market value £280,000), from £132,000 for a 40% share of a one-bedroom apartment (full market value £330,000) and from £164,000 for a 40% share of a two-bedroom apartment (full market value £410,000).
For further information please visit www.arrolondon.co.uk or call 020 8168 0183.