First-time buyers snap up new apartments in Hemel Hempstead

New apartments at the Apsley Quay development in Hemel Hempstead are being purchased by first-time buyers.

At the waterside development - being delivered by Bellway North London - 90 per cent of the buyers to date are stepping onto the property ladder for the first time, with 75 per cent using Help to Buy to purchase their home.

Bellway is building 170 apartments at Apsley Quay, which is located next to the Grand Union Canal, the first phase of the development, known as Silk Square, only has a handful of units remaining, with the first occupations due in October this year.

Greg Allsop, sales and marketing director for Bellway North London, said: “Apsley Quay is proving to be a popular choice for first-time buyers as it offers the best of both worlds: close proximity to London for commuters and a flexible apartment space for working from home.

“Apsley itself is a great place to live with retail and leisure facilities on the doorstep, while the development itself has its own podium gardens and access to nearby outdoor space.

“It’s no surprise that apartments are selling quickly here, when buyers can enjoy a convenient location for work without having to travel far from home to experience nature or do some shopping.”

Residents at Apsley Quay can commute from Apsley train station to London Euston in approximately 30 minutes or reach the M25 in ten minutes by car.

The second phase of homes at Apsley Quay – Watermark Place – is now for sale and several properties have already been sold off-plan.

Greg added: “The homes we are building at Apsley Quay are attainable for first-time buyers because of the price, but they are desirable due to the quality of the construction, the location and the lifestyle that residents can enjoy.

“Help to Buy has also been a big contributing factor with lots of buyers using the scheme before it changes next year.”

Help to Buy currently enables people to buy a home up to the value of £600,000 with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is provided in the form of a Government-backed equity loan, which is interest free for the first five years.

The scheme is changing in March next year and from then will only be available to first-time buyers, with a regional price cap of £407,400 for the East of England, which covers Hemel Hempstead.

There is a range of one, two and three-bedroom apartments available to reserve at Apsley Quay.

For more information, visit bellway.co.uk.