'Help To Buy helped me find a flat that was the perfect fit for me'

Menswear fashion account manager Tom Codd was born and bred in north London, so it was only natural that he wanted to stay in the area when buying his first home.

He was keen to find somewhere with fast transport links into the West End, where he works, and Dandara’s New River View development in Winchmore Hill fitted the bill. By using Help to Buy, he could afford a one-bed apartment.

‘I’d been saving for a deposit for the past three years by living at home with my parents in Enfield, just down the road from New River View, and the lockdown period definitely helped me save faster,’ says Tom, 35.

‘I was determined to buy my own home so that I could have my own space, and when I realised that I could make the move sooner by using Help to Buy I jumped at the chance.

‘I work in Oxford Circus, so it was important I bought in a well-connected area. The commute is very easy from Winchmore Hill to Finsbury Park, then you can then pick up the Victoria line. It only takes around 40 minutes.

‘I also wanted somewhere that was close to all my friends and family, has greenery and parks, and a thriving community to socialise in. I also play for the local Old Grammarians football team so wanted to stay close by.

‘I have been following the journey of the development since I first saw the Dandara signs go up and enquired as soon as I could. With Help to Buy, I could afford my dream home in the area I’ve grown up in. I put my deposit down and the process was stress-free.’

Do the maths:

(For a similar one-bed flat)

Purchase price: £420,000

5% deposit: £21,000

40% Help to Buy loan: £168,000

Mortgage: approx. £867pcm

Service charge: approx £84pcm

Total monthly spend: approx £951

New River View overlooks the River New in the village-like suburb of Winchmore Hill, and is a short walk from the station, shops, restaurants, pubs and parks.

All the one, two and three-bed apartments have a terrace or balcony and kitchens come with a washing machine, fridge-freezer, dishwasher, integrated recycling bin and composite stone worktops.

Help to Buy is available.

How help to buy works

The scheme allows first-time buyers with a 5% deposit to borrow up to 40% of the cost of a new-build home.

They have access to better mortgage deals than when borrowing a higher proportion of their home’s value, and don’t have to pay any interest on the loan for five years.

In London, the maximum price is capped at £600,000 and there are lower regional thresholds across the rest of England, where the loan is limited to 20% of a property’s value.

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