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25 July 2016

Empire Court: Escape the rental trap…5% deposit is the key that sets you free

New research claims a million more young people are likely to find themselves living with their parents over the next decade – with affordability of housing the suggested main reason.

According to a study by insurance company Aviva, a forecasted 3.8 million people aged between 21-34 will be living at home by 2025 – that's a third more than at the moment.

However, there is hope for many buyers – thanks to the Help to Buy equity loan scheme for properties under £600,000. The equity loan scheme means that you can borrow up to 20% from the Government towards your new home and you only need pay a 5% deposit. You won't need to pay anything on the 20% loan for five years.

Linden Homes' Empire Court in Borehamwood currently has a selection of one and two bedroom apartments available under the Help to Buy scheme. Every apartment benefits from allocated parking and balcony-some of which overlook a central green. Prices for a one bedroom apartment start at £285,000.

Another element which may attract you to Empire Court is the advantages of buying a brand new property. Every apartment has a ten year NHBC warranty and benefits from a high specification. What's more, you could even personalise your new home from a selection of kitchens, tiling and other options- all it needs is you!

Simon Pendlebury is the sales and marketing director at Linden Homes Chiltern:

"If you're considering a house move or a first time home purchase, then you may well be weighing up the pros and cons of buying a new build property.

"Alongside the great design of our apartments, you also have the reassurance that your new home is energy efficient and secure: the heating, windows and power sources for all new homes have to meet extremely stringent standards. It's estimated that a new build home is six times more energy efficient than an older home – meaning you could make substantial savings on your energy bills."

Empire Court is superbly located for reaching the City and beyond- just twelve miles from the centre of London and with Elstree and Borehamwood train station just a mile away.

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