NHG Homes Archives - Wharf Life

July 3, 2024July 3, 2024

NHG Homes offers buyers in London a way to buy property for less

Housing association has a wide range of shared ownership homes available in the capital

Image shows brick-clad residential blocks generated by a computer surrounding a two-storey red building at Kidbrooke Square — An artist’s impression of NHG Homes’ Kidbrooke Square development

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Deposits are typically the biggest hurdle for young people seeking to purchase a home in London.

The average house price in the capital (according to the latest figures from the Land Registry) currently stands at just over £500,000.

That means buyers on the open market would need at least £25,000 to purchase with a 5% mortgage and more likely £50,000 for a more affordable 90% loan-to-value deal.

While cheaper properties are, of course, available, the need to raise such sums remains a significant obstacle to getting on the ladder.

priced out – an NHG Homes survey

A recent survey of prospective first-time buyers by Opinium and affordable housing provder NHG Homes (part of housing association Notting Hill Genesis) found 81% of those aged 18-24 did not have access to a deposit of more than £40,000 – the 10% necessary to access many homes in the capital.

The study showed the average deposit buyers they had managed to put together was £22,963.

A computer generated image of open landscaped space at NHG Homes' Kidbrooke Square scheme — Kidbrooke Square will feature plenty of open space

income sources

It also revealed that, in a nation hit by a cost of living crisis, nearly half of 18-to-24-year-olds were looking at taking on second jobs to raise extra cash to put towards a home.

The survey also found 43% would be willing to hold off on having children to help them get on the ladder earlier in contrast to less than a quarter of those aged 25 or older.

The same did not apply with pets however, with a third of older buyers willing to go without an animal companion to save money as opposed to just under a fifth of adults aged 24 or younger.

family assistance

Opinium and NHG Homes’ study also showed that using cash from family was still a major source of funding for house purchases.

Around a quarter of those aged 35-44 said they were relying on money from parents to help them get a foot on the ladder, while 23% of people in relationships were looking to do the same to finance their first home.

Other relations were also listed as an important source of funds, with nearly a fifth of respondents aged 18-34 saying they were expecting to use contributions from family members who weren’t their parents.

Image shows a grey fitted kitchen in a property at Kidbrooke Square — Deposits on shared ownership homes can start from as little as four figures

an alternative from NHG Homes

Nearly half of respondents said they would consider shared ownership, if it meant they could purchase a property in the capital.

The scheme offers buyers the option to purchase a portion of a home while paying rent on the remainder.

It often works out cheaper than renting – especially given recent increases across London – and deposits start at 5% of typically a quarter of an apartment.

That means buyers with as little as £5,000 saved can potentially buy into a home worth more than £370,000 and live there as though they owned the whole thing.

NHG Homes sales and marketing director, Diana Alam, said: “Getting on the property ladder in London is a real challenge for first-time buyers, and it’s not surprising to us that many are having to look beyond their main source of income to save the amount needed for a deposit.

“Whether it be getting a second job or asking family members for a helping hand, this research has shown that buying through the open market in the capital requires more than simply setting money aside every month – particularly for younger buyers.

“The proportion of first-time buyers who would consider using shared ownership to purchase in London shows just how important it is to offer more affordable routes to home ownership.

“We’re proud at NHG Homes to offer properties across the capital that require deposits as low as four figures, meaning first time-buyers don’t have to choose between staying in London and getting on the property ladder.”

Image shows a bedroom at NHG Homes' Kidbrooke Square scheme in Greenwich — NHG Homes offers a wide range of shared ownership properties including this one at Kidbrooke Square

key details

NHG Homes offers a wide range of shared ownership options across London.

For example, one, two and three-bedroom homes are available to buy at Kidbrooke Square via shared ownership, with prices starting at £93,125 for a 25% share and a minimum 5% deposit of £4,594. This is based on a full market value of £372,500.

Average monthly costs for a one-bedroom are estimated at £1,386, including mortgage payments, service charge and rent on the un-owned portion of the property.

Find out more about Kidbrooke Square here

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com

May 31, 2024May 31, 2024

Why Kidbrooke Square shared ownership homes offer security

NHG Homes senior sales executive Daniel Jennings talks value at the south-east London development

Images shows a computer generated scene of Kidbrooke Square, four blocks of brick-clad flats around a central square with a red tiled building — An artist’s impression of how Kidbrooke Square will look when finished

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Daniel Jennings is perhaps NHG Homes’ most potent asset in marketing shared ownership properties at its Kidbrooke Square development.

The senior sales executive is on something of a personal mission to spread the word about what’s available to prospective buyers, having seen the benefits for himself.

He said: “Before my current role, I was a sales account manager for big tech companies in America.

“I did very well, winning awards and becoming the firm’s top salesperson worldwide.

“About four-and-a-half years ago, my now wife and I bought a shared ownership property from an affordable housing provider.

“That was a three-bed in the Beckenham area, with underground parking.

“I’m from west London, so I came all the way over to the south-east of the city, where the value for money is amazing – there’s the greenery, the parks and it’s away from the hustle and bustle.

“I realised how much not having that had affected me, so I wanted us to live where we could walk around and feel the fresh air.

“We couldn’t believe that a three-bed was affordable – it was a dream to us.

“Buying a home that’s 1,000sq ft in London gave me an appreciation for shared ownership as a product.

“We were planning to get married, wanted to start a family and so we moved into the three-bed. But then the pandemic happened and I got made redundant straight away.

“We’d moved in December 2019 and I can remember thinking how lucky we were to have lockdown in this beautiful property.

“I decided I wanted a role where I could make a difference.”

Image shows a man with glasses in a white shirt with a beard, Daniel Jennings, a senior sales executive for NHG Homes — NHG Homes senior sales executive Daniel Jennings

working for NHG Homes

“I wanted to help other people feel like I had, so I thought I’d try to get my feet wet, joined NHG Homes and sold seven properties in my first two weeks,” said Daniel.

“Since then, I’ve been promoted and now, when I talk to buyers, I don’t really have to sell.

“I just show them what we have, talk about my experiences with shared ownership and how I felt when I bought into it.

“Then we talk about pros and cons options and what makes sense for them, what their goals are and what’s right.

“We really try to focus on them as people and try to find something that works.

“This includes thinking about location, commutes to work, the safety of the neighbourhood and whether there’s enough light and space.

“We even look at which way a property faces and whether the buyer is a morning or an evening person.”

Image shows a show home at Kidbrooke Square with wooden floors and comfortable furnishings. The room is an open-plan living area with a kitchen — A show home at Kidbrooke Square’s Borsberry House

what’s on offer at Kidbrooke Square

Kidbrooke Square itself isn’t exactly without attractions.

The development, which includes a mix of tenures, is located on the doorstep of Kidbrooke station.

This is ideal for rapid connections to Lewisham (for Canary Wharf and the DLR) or direct trains into the City.

The scheme features a concierge service, residents’ gym facilities and private podium gardens.

It also boasts landscaped grounds, plans for a cafe in what’s currently the marketing suite and its own dedicated bus route.

Further benefits include being close to Berkeley Homes’ extensive regeneration of the Ferrier Estate, which has seen many local amenities arrive in the area.

These include shops, a pub, a cafe and the playgrounds and the extensive spaces of Cator Park.

Greenery nearby is something of a theme.

Kidbrooke Green Park, Manor House And Gardens, Blackheath Common, Greenwich Park and Charlton Park are all within a 15-minute bike ride or half-hour walk of NHG Homes’ new properties.

Then there are the homes themselves.

These feature balconies or winter gardens, open-plan living areas with wood effect flooring, fitted kitchens with Zanussi appliances and porcelain tiling in the bathrooms.

All come with high quality sound proofing, air filter technology plus communal heating and hot water systems.

They make for a compelling proposition in comparison to the prospect of renting privately.

Image shows a modern fitted kitchen with white units and Zanussi appliances — A kitchen in a show home at Borsberry House

security in shared ownership

“Shared ownership means buying a home for life,” said Daniel.

“You can do what you want, no-one’s going to kick you out.

“You can put your pictures up, paint your walls and there won’t be any difficult conversations with landlords about rents going up.

“Being a tenant can be tough.

“By the time you see a property and call, it can be let, or you have to make a decision on the spot when you see it.

“With shared ownership there are so many options.

“Take someone earning £40,000 or £45,000.

“If they put down a £9,000 deposit, 10%, they can get a one-bed and then feel comfortable with their income and paying their bills each month.”

Image shows a computer generate scene of lawns and flowerbeds between blocks of apartments — An artist’s impression of open space at Kidbrooke Square

escaping tenancy with a home at Kidbrooke Square

“Most people who are renting are sick of sinking their money into paying someone else’s mortgage,” said Daniel.

“With shared ownership, you’ve got equity that you can build on and what you’re paying in rent, which is capped, is going to a good cause – it supports communities by building more affordable housing.

“Then, if you want to sell your share, you’ll get support from us and the fees will be cheaper than an estate agency.

“Most people – I’d say around 80% or 90% – who buy a shared ownership home are first-time buyers although you don’t have to be.

“That means we exercise patience – we know they will want us to talk them through everything and really break down all the elements of how it works.

“People have a lot of questions about how rent increases happen and why service charges can change.

“But these things can seem scarier than they actually are.

“I’m able to use my personal experience to show them that my rent, for example, might have risen £60 a month but a property in the private market might have gone up £300 or £400.

“That helps calm people when they have that understanding.”

Image shows a show home bedroom at Kidbrooke Square with a bed, desk, chair and brightly coloured art on the walls — One, two and three-bedroom homes are available at the scheme

key details

Shared ownership homes at Kidbrooke Square start at £91,875, £113,125 or £158,750 for 25% shares in a one, two or three-bedroom apartment respectively.

Monthly costs for the above are estimated to be £1,344, £1,550 and £2,042 including mortgage payments, rent and service charge.

Find out more about shared ownership homes at the development here or call 020 4579 2974

Read Wharf Life’s e-edition here

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com

May 5, 2024May 5, 2024

Property: How homes at The Perfume Factory offer access across the capital

NHG Homes’ shared ownership properties in Acton are close to both the Elizabeth Line and Central line

The Perfume Factory in Acton, seen here as an artist’s impression, is named for the former Elizabeth Arden factory site on which it sits

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Location is often put forward as the single most important thing to consider when purchasing a property.

But what does this really mean in London?

In a capital as vast and diverse as ours, crucial to a buyer’s decision will be a home’s proximity to different modes of public transport, enabling rapid access to all the city has to offer.

Take The Perfume Factory in North Acton, for example.

Here, NHG Homes is currently offering a collection of 60 homes for sale on a shared ownership basis – nothing especially remarkable in that.

However, these properties are located in a transport sweet spot.

Not only are they two minutes from North Acton Tube station, offering Central line services across the city, they’re also a little over 10 minutes’ walk from Acton Main Line Station.

That means access to the Elizabeth Line and with it fast connectivity across the capital.

From there, it’s 12 minutes to Tottenham Court Road for Soho and Oxford Street, 21 minutes to Heathrow Airport or 25 minutes all the way over to Canary Wharf in east London.

This promises a commute for Wharfers of less than 40 minutes door-to-door – enviable compared to many other areas.

Prices for the one and two-bedroom homes start at £108,750 and £121,250 respectively for 25% based on full market values of £435,000 and £485,000.

The entry level property could be purchased with a deposit of less than £5,500.

So what can buyers expect from The Perfume Factory apartments?

NHG Homes’ properties feature open-plan layouts with wood-effect floors and mirrored fitted wardrobes.

Buyers will also get private balconies and fitted kitchens with energy fitted Bosch appliances.

These energy-efficient machines fit neatly into a wider focus on sustainability with the scheme also boasting cycle storage and communal spaces powered by the integrated solar panels.

Apartments start at £108,750 for a 25% share in a one-bedroom home

Purchasers will also enjoy access to landscaped, communal gardens on-site.

NHG Homes’ head of marketing and digital, Amie Triphook Cole, said: “North Acton is an up-and-coming part of London, which is already attracting many first-time buyers from all over the capital – including places like Canary Wharf – who are looking for a work life balance.

“The area is set to experience continued growth in the coming years, making this a great time to purchase.

“Homes at The Perfume Factory offer both comfort and practicality with high quality interiors, superb transport connections via the Elizabeth Line and Central line, and plenty of local amenities – ideal for first-time buyers looking to make the city their home.”

Local transport links might offer residents the option of rapidly travelling to multiple locations around London, but Acton has many attractions of its own too.

These include an array of local cafes, bars and restaurants such as the award-winning Stones Fish And Chips.

A little further afield, Westfield London and Ealing Broadway offer a wealth of places to eat, drink and shop.

There are also many green spaces to explore locally including North Acton playing fields, The Grand Union Canal and Pitschinger Park – home to rose gardens.

Why not look west when hunting for a way to get on the ladder?

NHG Homes is currently offering £2,000 contribution towards moving in on the first 10 homes reserved by May 31, 2024

key details

NHG Homes is currently selling one and two-bedroom properties at The Perfume Factory in North Acton on a shared ownership basis.

Prices start at £108,750 and £121,250, respectively for 25%, both available with a 5% deposit.

Service charge rates are estimated at around £3.80 per sq ft. Rent is paid on the un-owned portion of the property.

NHG Homes is currently offering £2,000 contribution towards moving in on the first 10 homes reserved by May 31, 2024

Find out more about homes at The Perfume Factory here

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com

April 4, 2024April 4, 2024

Property: How Royal Albert Wharf has unveiled homes in its final phase

Collection of apartments’ release marks last chance to buy at riverside scheme near Gallions Reach

An artist’s impression of the final phase of Royal Albert Wharf

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A decade and a half ago, Royal Albert Wharf looked very different.

Located at the eastern end of Royal Albert Dock, with the curve of the Thames behind it, today the area’s 15-year regeneration project is approaching completion, with the launch of its final phase of properties.

NHG Homes is set to release 58 apartments for sale at the scheme in spring, 2024, arranged around a communal garden square that opens onto the Thames Path riverside walkway.

Lined with trees, this route also leads to a children’s playground overlooking the river.

One, two and three-bedroom properties will be available, all featuring outdoor space in the form of balconies or private terraces.

Prices start at £375,000 for a one-bed with two and three-beds from £494,995 and £634,995 respectively.

Inside, the apartments feature open-plan design with Bosch appliances integrated into the kitchens, fitted wardrobes, built-in storage and separate washer-dryer cupboards.

The development also features a concierge service, a dedicated workspace and lounge area plus parking included as standard with three-bedroom properties.

The final phase is located right by the Thames Path

All residents get access to cycle storage facilities and the on-site car club, should they need four-wheeled transportation.

In contrast to buying a home off-plan at a scheme where work is just starting or halfway through, the majority of Royal Albert Wharf’s amenities are already in place.

NHG Homes’ head of marketing and digital, Amie Triphook Cole, said: “Royal Albert Wharf has quickly become the place to be in the Royal Docks.

“There’s a flourishing community of creators, businesses, young professionals and families who call this neighbourhood home, and with this final phase of homes, now is the last chance to buy a new home at this award winning development.

“Our residents enjoy the perfect blend of riverside views, plentiful on-site amenities and access to lush green space, all within homes designed with active, convenient and modern living in mind.

“I encourage buyers to enquire with us today, so that they don’t miss out on this last opportunity to buy in one of east London’s most exciting areas.”

Apartments are arranged around a communal garden square

Royal Albert Wharf already enjoys a wealth of local amenities with food and drink served by the likes of the Well Bean Cafe and Cafe Spice Namaste, owned by celebrity chef Cyrus Todiwala and his wife Pervin.

There’s also a monthly market selling fresh produce, street food, arts and crafts and plans for an on-site gym, nursery and a convenience store.

The development is also home to a number of artists and makers in studio spaces administered by Bow Arts, as well as local creative collective Art In The Docks, which regularly hosts exhibitions and events.

Royal Albert Wharf is located within easy walking distance of Gallion’s Reach DLR station offering direct connections to a host of east London locations.

Royal Albert Wharf has seen extensive regeneration in recent years

It also connects residents to the Elizabeth Line at Custom House and the Jubilee line at Canning Town, both making for easy journeys to Canary Wharf and beyond.

Prospective buyers will also likely be pleased at the prospect of a DLR extension to Thamesmead, an area undergoing three decades of regeneration.

The connectivity already in place means Royal Albert Wharf residents live within easy reach of the cultural and retail attractions of Stratford and Greenwich Peninsula as well as Canary Wharf.

More locally, the University Of East London is within walking distance and Excel and City Hall are a few stops away on the DLR.

The scheme is also close to Beckton Gateway retail park, which hosts big brands such as B&Q, Dunelm and Pets At Home.

key details

There are 58 properties available in the final phase of Royal Albert Wharf.

Prices start at £375,000 for a one-bed and £494,995 for a two-bed.

Three-beds start at £634,995, which includes parking as standard.

Find out more about Royal Albert Wharf here

First-time buyers Nate and Bianca in their Royal Albert Wharf home

CASE STUDY

Nate and Bianca moved into a one-bedroom apartment at Royal Albert Wharf in April 2021.

The first-time buyers purchased their home at NHG Homes’ east London scheme for £372,500 with a deposit of £56,000.

“We couldn’t find this quality and this location for the same price anywhere else,” said Nate, who works in cybersecurity in Canary Wharf.

“I started renting in central London, moved north, then east and then, most recently, south of the river – I pretty much experienced it all over six years as a tenant.

“I decided my last rental experience would be the last – I’ve rented in shared flats, and on my own, and it’s never really an easy process.

“Buying an apartment is a big deal, but the NHG Homes sales team made every moment as easy as possible.

“It was probably the best experience of buying a house you could possibly have.”

Bianca, who works in the events sector in Woolwich, added: “We looked at quite a lot of properties but struggled to find a home that ticked all of our boxes.

“We wanted to find somewhere that gave us access to open space, fresh air and was close to the Thames, as well as giving us shorter journeys to work.

“Royal Albert Wharf was the perfect fit.”

Unusually, three-bedroom apartments come with parking space included

Transport connections certainly helped sway the couple, with Nate especially impressed by his new commute and the development’s connections to airports.

“I used to travel an hour and 15 minutes to Canary Wharf, and now it only takes me 25 minutes door-to-door,” he said.

“I also fly frequently for work – travelling to Heathrow or Gatwick was such a pain and added hours onto each journey – but now London City Airport is very convenient and perfect for business travel.

“Knowing you’re half an hour from your front door when you land makes a big difference.”

For Bianca, the quality of the apartment, its features and facilities played a decisive role in the couple’s decision.

She said: “The apartment is really spacious, light, and bright – the layout is one of the things that encouraged us to buy here.

“We’d looked at quite a lot of properties within our budget and this floorplan was by far the best use of space we’d come across.

“It felt so much bigger than homes of a similar size.

“We were adamant about having enough space in the bedroom, which always tends to be the smallest space in a London flat.

“There’s also so much cabinet and wardrobe space.

“When we first came to view the property, we walked in the door and it was by far the best place that we’d seen.

“I could picture us living here immediately and planned out where everything was going to go – it was such an easy decision to make.”

Find out more about Royal Albert Wharf here

Read Wharf Life’s e-edition here

Subscribe to our free Wharf Whispers newsletter here

- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com

March 7, 2024March 7, 2024

Property: How shared ownership homes at Kidbrooke Square are surrounded by amenities and green spaces

NHG Homes scheme offers properties with deposits starting at £4,625 for 25% of a one-bed

An artist’s impression of Kidbrooke Square in Greenwich

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NHG Homes’ Kidbrooke Square development is all set to welcome its first residents in the coming months.

Set beside the wider regeneration of the Ferrier Estate, the area has been transformed in recent years with extensive house building and landscaping.

This project has seen a wealth of amenities arrive in this part of the Royal Borough Of Greenwich, including the blockbuster playgrounds and open spaces of Cator Park – a winner of the Sir David Attenborough award for biodiversity – all of which will benefit Kidbrooke Square buyers.

NHG Homes’ scheme is currently offering one, two and three-bedroom properties on a shared ownership basis, with prices starting at £92,500 for a quarter share of an apartment.

The housing association recently unveiled a one-bedroom show home on-site, showcasing the features of its homes including fully fitted kitchens with A+ energy-rated appliances, bathrooms with porcelain floor tiles and white sanitaryware as well as built-in wardrobes and storage space.

Properties feature open-plan design and boast private outdoor space (including two apartments with winter gardens). Further benefits on-site include communal cycle storage and a concierge service.

Locally, Pegler Square is home to cafes, shops and The Depot pub as well as a gym and regular food markets.

In addition to Cator Park, the open spaces of Kidbrooke Green Park and Sutcliffe Park are also within easy walking distance.

The development is located right beside Kidbrooke Station, offering rapid connections into the centre of the capital – London Bridge takes about 16 minutes, with Waterloo East three minutes beyond that.

Shared ownership properties at the scheme feature open-plan design

Journeys to Canary Wharf take a little over 20 minutes with a change at Lewisham onto the DLR.

The area is well served by bus services and cycle routes, with trips to Blackheath and Greenwich within easy pedalling distance.

NHG Homes head of marketing and digital, Amie Triphook-Cole, said: “Now is a brilliant time to buy at Kidbrooke Square, as residents start to move in and the community continues to grow.

“These fantastic apartments have been designed with a sense of comfort, accessibility and sustainability in mind.”

NHG Homes said the monthly costs of a shared ownership property at Kidbrooke – where rent is paid on the portion of the property not owned by the buyer – were cheaper on average than renting locally.

With a 5% deposit paid on a 25% share of its entry level one-bed, it estimates that cost to be £1,344 per month, dropping to £1,291, if a buyer pays a 10% deposit.

Fully fitted kitchens come with A+ energy-rated appliances

key details

Prices at Kidbrooke Square start at £92,500 for a 25% share of a one-bed apartment, based on a total market value of £370,000.

The home extends to some 566sq ft and is available with a minimum deposit of £4,625 (5%).

Two-beds are also available starting at £111,875 for a 25% share. Deposits for that property would start at just under £5,600 (5%).

Find out more about Kidbrooke Square here

Read Wharf Life’s e-edition here

Subscribe to our free Wharf Whispers newsletter here

- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com