The sales launch of phase one at Hillside Hub, a development of 59 one and two-bedroom apartments, 34 for private purchase through REAL and 25 for shared ownership through INplace (part of The Hyde Group), has proven the hunger in the market for well designed and well priced homes.

The popularity of these properties is not just down to the great location and facilities available within the development though.  REAL has made a commitment to first time buyers through the REAL start scheme which helps buyers get onto the property ladder through provision of an interest free loan.  

Properties purchased through REAL start will be funded by two loans, the first provided by a mortgage lender and the second by REAL. The percentage of the property that REAL helps purchasers buy will depend upon individual financial circumstances as assessed by a nominated mortgage broker, but will be a maximum of 15%.  

REAL start is not a shared ownership scheme and all buyers are eligible although the programme is targeted at first time buyers.  Purchasers will own 100% of the property from the start but will only need to borrow 85% from the mortgage lender.   

Interest is not payable on REAL’s loan which must be paid back within 10 years.  

This scheme will be welcomed by aspiring homeowners according to a study complied by Professor Steve Wilcox, University of York, which states that more than a quarter of young working households are unable to get on the property ladder because of mortgage difficulties and house prices that remain unaffordable.  

One of the worst affected areas in the UK is London, where more than 40 per cent of young households, aged between 21 and 40, are unable to access the housing market. 

Mark Mitchener, director of REAL says “We hope to assist local people to step on to the property ladder in Stonebridge before the ripple effect of regeneration boosts prices. Successful regeneration relies on ordinary people living in private homes, which is why we are doing everything we can to make this a reality.” 

The launch of phase two at Hillside Hub will be held on the Saturday the 28^th of June.  Prices start from £159,950 for a suite apartment; however, if the property is purchased through Real start the amount required for a mortgage is £135,950.  To register your interest, please contact the sales team on Tel: 020 3320 8220 or visit www.realwebsite.co.uk