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SarahBell

Islington Wharf Ftb Special

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http://www.islingtonwharf.co.uk/

Renting but want to buy?

If you're a first-time-buyer with a deposit of £6,250 saved, you're eligible for a new home-ownership scheme at Islington Wharf

Think you can't buy your own home? What if...

You don't need a big deposit.

Your mortgage payments are cheaper than renting.

There's no rent to pay like on shared ownership – because you own 100% of the property.

That's the deal at Islington Wharf, just east of Piccadilly Station on the edge of the Northern Quarter, under their new interest-free Loan 2 Own shared equity scheme.

It means you can buy a one bed apartment with a deposit of just £6247.50 and you can buy a 2 bedroom apartment with only £7242.50.

Also at Islington Wharf we have a great selection of two, three and four bed luxury duplexes with stunning roof terraces or private gardens

We've only got 20 apartments remaining in our first phase

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What The Papers Say

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08701 622 522

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islingtonwharf

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m

Only 5% Deposit needed - Thats only £6,250*

If you are struggling to raise a deposit for the home of your dreams, then why not allow ISIS Waterside Regeneration to help? With a view to helping potential buyers take that first step on to the property market, ISIS have created their own Shared Equity scheme which makes it easier for you to purchase an apartment.

It is all about bridging the gap between the deposit you have (minimum 5%) and the deposit you need.

1. What is ISIS Shared Equity?

It is funded by ISIS to create an opportunity for people to live in high quality, affordable places. The scheme is specifically aimed at customers who are really keen to own their own home but who are struggling to raise a sufficient deposit to access reasonably priced, affordable mortgages as the ISIS shared equity scheme provides a large portion of the deposit.

Unlike some other shared ownership schemes if you purchase through ISIS you still have 100% title of your home and you can sell it on the open market – although you’d have to repay the ISIS loan in the event that you sold.

2. How does it work?

ISIS shared equity scheme enables eligible buyers to purchase a new property with an affordable mortgage.

ISIS will fund up to 20% of the purchase price to use towards the deposit. The amount of loan provided will be based on your individual situation and will be determined in your financial assessment.

Buyers must fund up to 80% of the purchase price through a combination of a regular mortgage and their own savings – a minimum 5% deposit from your own resources is required.

Once you have reserved a property, you will need to instruct a solicitor to act on your behalf. Once contracts have been issued, exchange takes place within 28 days, at which point a deposit of 5% (less the reservation fee £500) will be payable. When contracts have exchanged ISIS will let you agree a date for completion, when you are then free to move in.

The ISIS shared equity loan is repayable either when the property is sold, or in 10 years from completion.

However if you do any of the following then repayment to ISIS may be triggered and default charges may apply:

– you let your home without ISIS’s permission

– you breach the terms of the first mortgage on the property or the terms of the legal charge in favour of ISIS

– you die or are declared bankrupt, or enter into any accommodation or composition arrangement with your creditors

After 1 year you can begin to buy-out the ISIS equity share in up to 4 instalments of no less than 5% of the value each.

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£6,250 is basically key money for a secure tenancy. , but can see the offer being very tempting.

Then again if you can only scrape £6k for a deposit, it doesn't bode well for the repayments.

Also no guarantee that the unsold parts of the development doesn't go "social" later.

But that is the UK, it wants millions of borderline bankrupts, one salary cheque from insolvency.

What a disgraceful sh*thole this country has become.

Edited by John Steed

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£6,250 is basically key money for a secure tenancy. , but can see the offer being very tempting.

Then again if you can only scrape £6k for a deposit, it doesn't bode well for the repayments.

Also no guarantee that the unsold parts of the development doesn't go "social" later.

But that is the UK, it wants millions of borderline bankrupts, one salary cheque from insolvency.

What a disgraceful sh*thole this country has become.

But you get to live somewhere with the word 'Wharf' in the address - this conjures up thoughts of wealth and success and is worth £6k on it's own.

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But you get to live somewhere with the word 'Wharf' in the address - this conjures up thoughts of wealth and success and is worth £6k on it's own.

It will be full of sailors and prostitutes! :huh:

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It means you can buy a one bed apartment with a deposit of just £6247.50 and you can buy a 2 bedroom apartment with only £7242.50.

Those 50 pence pieces must be very important.

I wonder if the EA would send you to the newsagent for a paper or some chewing gum to make change if he didn't have enough coins on him.

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I'm starting (correction started a long time ago) to get the **** with this. Why are these special deals all aimed at FTB's?

I know plenty of people me included, who have owned property before and for whatever reason are priced out of the housing market and trying to get back in at the bottom rung. I'm talking London here. Seems to me if you're over 35 or have owned a property before you somehow don't count as the type of person who might get the property market moving again or have any need for an incentive.

The best incentive to encourage people to buy again is a 20% drop in prices.

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I'm starting (correction started a long time ago) to get the **** with this. Why are these special deals all aimed at FTB's?

I know plenty of people me included, who have owned property before and for whatever reason are priced out of the housing market and trying to get back in at the bottom rung. I'm talking London here. Seems to me if you're over 35 or have owned a property before you somehow don't count as the type of person who might get the property market moving again or have any need for an incentive.

The best incentive to encourage people to buy again is a 20% drop in prices.

These special deals are aimed at FTBs in the same way that a shotgun is aimed at a pheasant.

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Islington? Can they be done under the Trade Description Act?

I guess 'Peckham' didn't quite have the same ring. :D

Looking at the floor plans, why oh why oh why is there such a fashion for open plan kitchens??? Applies to pretty much all new build developments. I like to close off (as much as I can) the horrendous noise made by my washing machine when it is in use from the living room. :rolleyes:

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Looking at the floor plans, why oh why oh why is there such a fashion for open plan kitchens??? Applies to pretty much all new build developments. I like to close off (as much as I can) the horrendous noise made by my washing machine when it is in use from the living room. :rolleyes:

In Germany it's even quite standard for apartments to have a separate utility room.

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I guess 'Peckham' didn't quite have the same ring. :D

Looking at the floor plans, why oh why oh why is there such a fashion for open plan kitchens??? Applies to pretty much all new build developments. I like to close off (as much as I can) the horrendous noise made by my washing machine when it is in use from the living room. :rolleyes:

http://en.wikipedia.org/wiki/New_Islington

Cos Ancoats is too rough a name historically.

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Cos Ancoats is too rough a name historically.

Exactly. Worked part time for years in the JJB on the end of the retail park there. They'd need to pay me 6 grand to live there, 6 grand every month. And to give some perspective I lived in hulme for 6 years and longsight before that.

£120K+ for a 1 bedder?

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In Germany it's even quite standard for apartments to have a separate utility room.

Cellers are pretty standard too...... even with flats.

Edited by Badhairday

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Exactly. Worked part time for years in the JJB on the end of the retail park there. They'd need to pay me 6 grand to live there, 6 grand every month. And to give some perspective I lived in hulme for 6 years and longsight before that.

£120K+ for a 1 bedder?

I have lived in Ardwick, Hulme and Whalley Range. I wouldn't live in one of those monstrosities in Ancoats for love nor money.

.

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I guess 'Peckham' didn't quite have the same ring. :D

Looking at the floor plans, why oh why oh why is there such a fashion for open plan kitchens??? Applies to pretty much all new build developments. I like to close off (as much as I can) the horrendous noise made by my washing machine when it is in use from the living room. :rolleyes:

I've posted it before, my brother bought a new build one bed flat with the kitchen in the tiny living room - but his bedroom had a full en suite. One bed, two bath, no kitchen. Oh, the extra bathroom will be useful for guests, except you couldn't fit the in the place. Insane.

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I'm starting (correction started a long time ago) to get the **** with this. Why are these special deals all aimed at FTB's?

I know plenty of people me included, who have owned property before and for whatever reason are priced out of the housing market and trying to get back in at the bottom rung. I'm talking London here. Seems to me if you're over 35 or have owned a property before you somehow don't count as the type of person who might get the property market moving again or have any need for an incentive.

The best incentive to encourage people to buy again is a 20% drop in prices.

All FTB means is 'you don't own anywhere at the moment'- I'm sure you'd qualify as such- get down there and bag a few!

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Also no guarantee that the unsold parts of the development doesn't go "social" later.

(agree with your post, but:

as the apartments do not have separate kitchens, they can't be sold as social housing? :)

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(agree with your post, but:

as the apartments do not have separate kitchens, they can't be sold as social housing? :)

This is certainly true of my HA, you need fire doors.

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(agree with your post, but:

as the apartments do not have separate kitchens, they can't be sold as social housing? :)

Hilarious... Nearly 5 years' average gross salary for a 1 bedroom flat in a rough area that fails to meet council housing standards from 50 years ago.

How far we've come.

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All FTB means is 'you don't own anywhere at the moment'- I'm sure you'd qualify as such- get down there and bag a few!

That's interesting, I didn't know that. So you qualify as a FTB so long as you don't own a property? I.e. you could STR and immediately you are classed as a FTB?

Defo wouldn't bag one of those, the words "new build", "luxury" and "development" are all on my "things not to do in life"- list.

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These special deals are aimed at FTBs in the same way that a shotgun is aimed at a pheasant.

Or offering complimentary cocktails to those about to board the Titanic.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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