Barratt London’s new development in Bermondsey now offers even better value to eligible first-time buyers, who can purchase a home at Bermondsey Heights with a 30% discount, thanks to the developer’s participation in the Government’s First Homes Scheme.
The developer reports high demand for the scheme, with the sales team receiving five times their usual number of enquiries within the first week of its launch.
A selection of stylish new apartments in the 26-storey tower are now available to first time buyers who meet the First Homes Scheme’s requirements, which include having a household income of less than £90,000 in the previous tax year and being able to provide a deposit and secure a mortgage for at least 50% of the cost. Purchasers at Bermondsey Heights also need to live or work in the London Borough of Southwark, or be a key worker. Properties included in the scheme include one-bedroom apartments for £306,600, two-bedroom homes for £412,300, and spacious three-bedroom, family properties for £420,000.
Bermondsey Heights is an exciting new development south of the River Thames in SE15, in the heart of Bermondsey’s dynamic regeneration area. Its landmark tower, with views over the city, houses 195 high-quality one, two and three-bedroom apartments, with landscaped courtyard gardens, a roof terrace, play area, concierge, residents’ lounge, cycle parking and a 24-hour community shop, Pantree, in the lobby.
Ready to move into in spring 2025, every home at Bermondsey Heights boasts a balcony, terrace or wintergarden, flexible open-plan living space, German kitchens with integrated appliances and sparkling, fully tiled bathrooms. To help residents save money and be more eco-friendly, homes are highly insulated and benefit from efficient appliances and low energy lighting. Bermondsey Heights runs on a carbon-efficient centralised heating system, and features green roofs, solar panels and air source heat pumps, providing 70% of the development’s peak load energy demand.
Bermondsey Heights is in Travel Zone 2, conveniently close to everything that London has to offer. South Bermondsey station, one stop from London Bridge, is just a 10-minute walk. The wide open spaces of Southwark Park, Bridgehouse Meadows and Deptford Park are all in close proximity.
Yolanda Jacob, Sales & Marketing Director at Barratt East London, said: “We are always looking for ways to help first-time buyers take that important first step on the property ladder, so are pleased to be participating in the Government’s First Homes Scheme. We also have a number of existing incentives and schemes such as Own New Rate Reducer, Deposit Unlock and Deposit Boost, that can help a wider range of buyers to make a move to this up-and-coming part of London.”
The First Homes Scheme is designed so that homes are not only cheaper to buy initially, but remain at a subsidised rate going forward, with all buyers checked for eligibility by the local authority. Those who buy a home using the scheme never have to repay the initial discount, but when they come to sell the property they must sell it on to another approved First Homes Scheme buyer at the same percentage discount, ensuring that Bermondsey Heights will always have some homes at a more affordable price for those on lower incomes, ensuring that first time buyers continue to be able to afford to live in this superb central London location.
Prices for First Homes Scheme apartments at Bermondsey Heights start from £306,000 for a one-bedroom apartment. For more information visit www.barrattlondon.com.
