Welcome to our weekly round up highlighting some of our great rental opportunities. Whether you’re looking for a warehouse conversion in Dalston, a maisonette in London Fields, or an apartment in Islington, have a look at these great properties, this week featuring two pub conversions. And come back next week for more featured lettings.

Tyssen Street, E8

This very cool split level two bedroom apartment is in an early 20th Century building (dating from 1902). The apartment is a converted live/work unit with loads of natural light, exposed brickwork and wooden floors. It’s also in a great location, just moments walk from Dalston Junction station and close to great restaurants, cafes, shops and galleries.

Find out more HERE 

Parkholme Road, E8

This two bedroom maisonette located between Dalston and London Fields has a large reception room and a garden (with a shed) along with two good sized double bedrooms and a modern bathroom. It is located on a quiet residential street but moments walk from the great boutique shops and vibrant bars and restaurants of both Dalston and Hackney.

Find out more HERE

Liverpool Road, N1

This bright and modern one bedroom apartment is on the ground floor of a secure development in Islington. It features a spacious open plan living room and kitchen space, a luxury bathroom and plenty of built in storeage. The apartment is really bright and light throughout. Upper Street, Islington and Angel are all within easy reach, making the apartment ideally located for great shopping and restaurants locally and easy transport links across London.

Find out more HERE

Roman Way, N7

This one double bedroom flat is above a former pub very close to Caledonian Road & Barnsbury station. There is a spacious double bedroom, a living/dining area and a fully equipped kitchen.

Find out more HERE

Balcorne Street, E9

This one bedroom apartment in the second pub conversion on this week’s list is just off Lauriston Road, moments away from the beautiful Victoria Park and the great cafes, pubs and restaurants of Victoria Park Village. The apartment has an open plan living room/kitchen space and also benefits from a large communal garden.

Find out more HERE

Nothing suitable here? Have a look at lots more great lettings HERE

Warehouse conversions have become one of the hottest trends in property, especially in east London. What originally started out as a cheap and spacious place for artists to live in New York City has now become a high value, quality investment, with many warehouses being sold for millions. Here are some of our top warehouse conversions…

The Tapestry Building, EC2M

Ideally located just a stone’s throw from Liverpool Street station is The Tapestry Building. Built in the 18th century by the East India Company, the building has now been converted into 14 stylish homes. This beautiful two bedroom apartment is on the third floor, with a bright and spacious dual aspect living and dining room, and a fabulously modern kitchen.

Find out more here.

Kingsland Road, E8

Quebec Wharf, a former Victorian spice warehouse, has been beautifully converted to provide spacious, chic apartments. This one bedroom property stays true to its roots, with original features such as exposed brick walls and steel pillars.

Find out more here.

King Edward’s Road, E9

One of Hackney’s most sought-after warehouse conversions, Five King Edward’s Road was formerly a 1920s clothing factory and is now home to 89 beautiful apartments with a diverse group of residents. This two bedroom penthouse offers double height ceilings, a beautiful open mezzanine level, and floor to ceiling windows letting in incredible light.

Find out more here.

Northburgh Street, EC1V

Set within a former printworks is this sleek two bedroom apartment, in the heart of the City – just around the corner from Barbican station. Arranged over 967 sq ft, it’s flooded with natural light, high ceilings and dual aspect windows.

Find out more here.

Saint John Street, EC1V

This fantastic one bedroom loft apartment is available to rent in Clerkenwell. Originally a part of the Vogue Pattern building, and then the old Ingersoll factory, the apartment has been designed to retain as many of the original industrial features as possible. The property offers over 1,000 sq ft of space and benefits from a communal roof terrace with panoramic views over London.

Find out more here.

Pentonville Road, N1

Just a short stroll from King’s Cross is this fantastic warehouse conversion on Pentonville Road. This one bedroom apartment enjoys high ceilings and a decked mezzanine level, allowing for flexible living. The property also retains a lot of original period features, such as the large industrial windows allowing for plenty of light.

Find out more here.

Annette Road, N7

Just off the vibrant Holloway Road is this beautifully modern warehouse conversion, with a spacious open-plan kitchen and reception room, two bedrooms, two bathrooms, and a private patio – perfect for entertaining.

Find out more here.

 

Last weekend saw the successful launch of Bagel Factory and Old Smokehouse at the dedicated marketing suite in Hackney Wick.

There was a really strong turnout with 120 people in attendance, and lots of interest in this exciting new development.

Hackney Wick and Fish Island are set to undergo extensive regeneration, building a creative hub that has been dubbed “the new Shoreditch” – and a perfect investment opportunity. The V&A, London College of Fashion and Sadler’s Wells Theatre are all opening in the Olympic Park, as well as a major development which will include new homes, schools and The International Quarter business centre.

All this change will generate over 50,000 jobs for the area and see The London Legacy Development Corporation establish one of the largest new urban spaces in Europe for over 150 years.

You can find out more about the developments and check out a virtual tour here.

The property on Dereham Road, IG11

Acting for a Trustee in Bankruptcy, the Insolvency Department of Currell Chartered Surveyors has just sold a repossessed property in Barking for 26% over the guide price.

The four bedroom semi-detached property in Dereham Road was sold through auction at The Sheraton Grand Hotel in Piccadilly for £497,000 – a substantially larger amount than the £390,000 guide price.

The property is close to Barking town centre and represented a great opportunity for investment and modernisation.

Currell’s new Barking office, in the former police station, set to open this summer

The average property price in the borough of Barking and Dagenham is £296,892 – up 3.9% from 2016 (Land Reg, Dec 2017). Currell is opening a new office in Barking this summer, as part of the wider regeneration of the area.

There are plans for more than 35,000 new homes and 10,000 new jobs in the borough over the next 20 years.

What is shared ownership?

Shared ownership is a type of Help to Buy scheme, that allows you to purchase a share in a property. You then pay a subsidised rent to the Housing Association on the remaining share, along with a monthly service charge.

Shared ownership properties are purchased on a leasehold basis and the lease is normally 125 years. This means you will own an equity share in the property – anything from 25% to 75%, dependent on what is being offered by the vendor, and what you’re able to afford.

Financial ability is assessed free of charge by an independent financial advisor (IFA). You’re required to buy up to your maximum affordability, and additional shares in the property can be purchased at any time – this is called staircasing. The price is always taken from the market value, which is determined at the time by a RICS accredited surveyor.

Once you’ve bought your property, you can sell it at any time. The housing association will normally have a 12 week period to find another person to purchase the property under the shared ownership scheme, however if they can’t find a buyer in that time period, the property can then be sold on the open market (again, the value is determined by a RICS accredited surveyor).

So how do I know if I’m eligible?

In order to qualify for shared ownership, you’ll need to…

  • Earn less than £90,000 a year if you’re looking to buy in London, and £80,000 outside of London. Every property will have a minimum income level too, determined by its value, rent and service charge costs
  • Have access to a minimum deposit of 5% of the share being purchased
  • Be employed on a permanent contract and have passed any probation or be able to provide three years audited accounts if self-employed
  • Have British, EU or EEA Citizenship or have indefinite leave to remain
  • £5,000 towards legal fees, mortgage arrangement fees and stamp duty

Each development will have an eligibility criteria of its own and this can be based on the area in which applicants currently live or work and the type of accommodation currently occupied.

What now?

Take a look at our selection of fabulous properties available to purchase through shared ownership here.

To find out more about shared ownership, head to Twitter to take part in #SOChatHour where you can join the conversation and ask questions about all things Shared Ownership, every Wednesday at 8pm.

You can also get in touch with our team on 020 7704 5618. 

 

Getting on the property ladder is tough. For buyers in London you are paying rent and saving for a deposit, and it can feel like an uphill struggle at times.

There are however certain schemes available to first time buyers, which we’ve outlined below:

Help to Buy ISA

This product is available from a range of banks, building societies and credit unions.  You save money into a Help to Buy ISA and the government will boost your savings by 25%.  So, for every £200 you save, you receive £50 in a government bonus.  The maximum government bonus you can receive is £3000.  The accounts are available to each first-time buyer and not each household.  This means a couple could get £6000 towards their first home.  Your solicitor will apply for the government bonus on your behalf and use the funds at the completion of the property transaction.  You cannot use the funds for the deposit at exchange of contracts. Further details here.

Shared Ownership

If you cannot afford the mortgage on 100% of a home, you can buy a percentage of one (normally 25-75%) and rent the part you don’t own.  As and when your income allows you can purchase more shares in the property (there are costs involved with this and you purchase at the current market value).  To be eligible your household needs to earn £80000 or less outside of London and £90000 or less in London. Further details here.

Help to Buy Equity Loan

Under this scheme the buyer needs a 5% deposit, the government offers a 20% interest free loan (first five years only) and the remaining 75% is funded by a standard mortgage.  Be aware though that from year 6 interest becomes payable on the 20% and starts at 1.75%.  Every year after it increases by RPI (Retail Price Index) plus 1%. This scheme is available for all new-build properties in England worth up to £600,000.  Further details here.

Help to Buy London

In an extension to the above scheme, the London Help to Buy was launched on 1st February 2016.  Specifically to help buyers in London, the amount will grant an equity loan of up to 40% of the purchase price. Buyers can proceed with a deposit as little as 5%. Subject to qualifying you would need a mortgage on the remaining 55%.  You won’t be charged any fees on the 40% for the first 5 years of owning your property.  You cannot sublet this home and you are not allowed to own any other property at the time you buy your new home with Help to Buy London.  From year 6 interest becomes payable on the equity loan and follows the formula in the Help to Buy Equity Loan scheme above. Further details here.

Starter Homes

If you are a first-time buyer (under 40 years old) the Starter Homes scheme could help you buy a new-build home with a 20% discount.  The maximum cost of a home offered via the Starter Homes scheme will be £250,000 outside London and £450,000 inside London.  The scheme isn’t up and running yet but planning is well underway.  Aspiring homeowners can register their interest online now here.

We are selling 11 apartments in the St Paul’s Square development in Bow, E3. With prices for one bedroom apartments starting at £440,000, and £525,000 for two bedroom units at £525,000, all apartments are available through Help to Buy.

All apartments are built to a high specification and benefit from private outside space. The development is beautifully designed with modern city living in mind, and is surrounded by landscaped gardens. These apartments offer an excellent opportunity to live in a well-connected location near to both the City and Canary Wharf, at attractive price levels.

The development is conveniently located for public transport with Mile End station and Devons Road DLR within walking distance giving easy access to Central London, Canary Wharf and the West End.

For more information about the development please contact a member of the new homes team by email or phone: newhomes@currell.com or 020 3826 4888, or arrange a viewing on our website here.

Now it’s May, and spring is officially here (even the weather is catching up), it’s the perfect time to give your home a spring clean – and a general makeover. Here are some of our top tips for rejuvenating your home, and adding something new to the mix:

1. Inject some green

Houseplants have seen a massive boom recently, with everyone wanting to decorate their homes with all things green and growing. We’re loving the new trend for terrariums – little mini plant beds that are usually displayed in glass bowls or geometric containers.

Make your own at a terrarium workshop by geo-fleur near you.

Lots of interesting new plant emporia are also springing up – make sure you visit Grace and Thorn or Conservatory Archives in Hackney Road.

2. Re-jig shelf space

As well as adding the aforementioned greenery, jazzing up your shelves and mantelpieces can make a big difference. Update photo frames by adding more recent photos, and add decorative objects like candles and books to really enhance the space. De-cluttering and spacing objects out will bring a more minimalist feel.

3. Upgrade your bedding

Walking into a bedroom, the first thing you notice is the bed – so a change of bedding will make a big difference. This is also a  quick and effective way to change up a bedroom’s colour scheme.

4. Finish your floors

Over time, wooden floors get scuffed and worn out, and this isn’t something we often notice straight away. Waxing your wooden floors or applying a sealant will leave them gleaming again, and will make a huge difference to the overall effect of the room. Or, for a more dramatic change, why not paint the floor instead.

Farrow and Ball offer a wide range of floor paints in contemporary shades. Check out the colour samples at the Islington shop.

5. Give the cushions an upgrade, too

Although small, cushions make a big difference. Colourful or patterned cushions can really bring a sofa to life, and add something special to the room. Changing the cushions and other small accessories can change the entire colour scheme of a room, and a bring a different feel, without spending too much!

6. Get organised

There are lots of ways you can organise your stuff to refresh your home. Labelling containers and jars in the pantry will make cooking feel a lot easier, and help you keep track of supplies. Take the opportunity to put photos into albums, and to throw out anything in your wardrobe you don’t wear anymore. Spring means new beginnings, so it’s time to declutter and pass on old belongings to friends or charity shops.

7.) …Don’t forget the garden

Outdoor furniture often gets neglected during the winter months – so give your chairs and tables a good scrub down to leave them looking new again, perfect for when your guests come to visit.

Spring is the perfect time for planting, so if you have an old sandpit that’s been outgrown, or an area you’re not sure what to do with, why not create a herb garden or a flowerbed.

 

 

The mortgage war between lenders reignited last week. HSBC has retaken pole position in the best buy tables for mortgages launching a five year fixed rate of 1.69% for those who have a minimum of 40% deposit.  The loan carries a fee of £999 which is lower than many typically tied to an ultra-low deal such as this.

The only other deal that comes close is from Yorkshire Building Society, which offers a two year discounted variable rate of 0.89% to those with a 35% deposit.  However, it comes with a substantial arrangement fee of £1,495.

Lenders are fighting for new business and the above rates demonstrate this.  However, the high deposit levels required will be a barrier to many first-time buyers.  With uncertainty around Brexit negotiations, many buyers are holding out for rates to dip further.  However, most brokers are in consensus that rates are close to the bottom of where they can feasibly go.

The high deposit levels required mean that the bank of mum and dad is playing an increasingly important role. According to new research from Legal and General in association with CBRE, this year parents are expected to lend £6.5 billion, contributing to more than 2980,000 mortgages and accounting for 26% of all property transactions. This is a 30% increase on the £5 billion loaned in 2016.

Across the UK the average of borrowing from mum & dad currently stands at £21,600 with the amount borrowed in London at £29,400.

To put these figures another way, the bank of mum & dad is now the 10th biggest lender in the UK.

Whether or not this is sustainable, it is symptomatic of the ‘affordability’ problem, exacerbated by the shortage of new homes, especially in London. Kate Faulkner, author of Which? Property book states:

“We must remember that the increasing use of the bank of mum and dad is a symptom of the lack of housing in the UK not the solution, so we need to build enough homes to match population growth.”