The Ultimate Guide to... GETTING ON THE LADDER, NEW HOMES AND SHARED OWNERSHIP
the Ultimate Guide to ... GETTING ON THE LADDER, NEW HOMES AND SHARED OWNERSHIP
October/ November 2024 £4.99
rsttimebuyermag.com
TOP TIPS TO HELP YOUR SAVINGS POT GROW
WIN! A BURG- WÄCHTER
SECURITY KIT WORTH £70
ALL YOU NEED TO KNOW ABOUT LONDON LIVING RENT & RENT TO BUY
LABOUR'S NEW PROPERTY PROMISES
“Create a list of important things you want in a home”
Tayo & Antoinette Oguntonade Founders, BrickzWithTipz
EDITOR’S LETTER
Welcome
EDITORIAL – 020 3488 7754
Editor-in-Chief SARAH GARRETT sarahg@spmgroup.co.uk
It was amazing to celebrate the First time Buyer Readers’ Awards recently and have the opportunity to meet up with so many housing industry colleagues. This year we were overwhelmed with the support we have had with so many entries, and fierce voting. A very big thank you to everyone for taking the time to vote – it really means so much and if you turn to pages 70-79 you can see all the winners and highly commended.
Editor LYNDA CLARK lynda@ rsttimebuyermag.co.uk Editorial Assistant and Head of Special Events KATIE WRIGHT
Editorial and Special Events Assistant SOPHIE MUNNERY
Creative Director RYAN BEAL
The annual Shared Ownership Week campaign returns from 25 September to 1 October, aiming to help homebuyers understand how using the scheme can help you buy an affordable home. I do hope that you enjoy our special shared ownership supplement where you can find lots of information and many lovely developments available through this extremely popular Government scheme, plus an explanation on how the scheme works. We know how hard it is for first time buyers to save for the all- important deposit. It seems like a mountain to climb, but do turn to pages 22-26 where we suggest some small changes you can make to help your savings grow – I hope you all find it useful. I hope you enjoy this issue which is packed with information and help on buying your first home – enjoy!
Sub Editor KAY HILL
Social Media KATIE WRIGHT, SOPHIE MUNNERY Contributors CHRIS CLARK, KAY HILL, STEVE
HIRD, GRACE MCCARTHY, SOPHIE MUNNERY, LAURA DEAN-OSGOOD, CORALIE PHELAN, CHARLOTTE SIMPSON, ANDREW THEOFF, GINETTA VEDRICKAS, STEPHEN WARD, KATIE WRIGHT
ADVERTISING 020 3488 7754
Director of Advertising/Exhibition Sales LYNDA CLARK lynda@ rsttimebuyermag.co.uk Special Events KATIE WRIGHT – National Home Buying Week – First Time Buyer Readers’ Awards katie@ rsttimebuyermag.co.uk Accounts accounts@ultimateguidecompany.com Managing Director SARAH GARRETT sarahg@spmgroup.co.uk
Until next time, happy house hunting
firsttimebuyeronline
@firsttimebuyermag
SUBSCRIPTIONS 020 3488 7754
SWITCHBOARD 020 3488 7754
EDITOR’S PICKS…
The higher the EPC rating, the more energy ef cient the home. Minnie Dando, Developer’s Doctor, page 16 I am a great believer in working as a team and being very uid. Abigail Tan, Leading the Way, page 66
Many people believe that
All advertising copy for December 2024/January 2025 must be received before 25 October 2024. Send all copy to: lynda@firsttimebuyermag.co.uk The content of this publication, either in whole or in part, may not be reproduced, stored in a data retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior permission from the publishers. Opinions expressed in First Time Buyer magazine are not necessarily those of the publishers. © The Ultimate Guide Company Ltd 2008-2024. The Ultimate Guide Company Ltd t/a First Time Buyer magazine will take no responsibility for any loss/claim resulting from a transaction with one of our advertisers/media partners.
saving for your rst home and getting on the ladder are way out of reach. Clare Seal, At home with, page 12
A resale can be the perfect t for a person, especially if they don’t like how identical new builds can be. Joel Taylor, 20
We have a mortgage in princible agreed and we’re ready to get this homebuying ball rolling. Rebecka Woodall, House Hunter, page 14
Questions, page 118
First Time Buyer October/November 2024 3
CONTENTS
OCTOBER/NOVEMBER 2024 / ISSUE 109 / FIRSTTIMEBUYERMAG.CO.UK
What’s in…
44 Finding Your Style Steve Hird, Director and Co-founder of Edward Thomas Interiors, breaks down some of the most popular interior styles and explains how to recreate them in different rooms.
66 Leading the Way
Abigail Tan is CEO of the St Giles Hotels Group in the UK, Europe and North America, but she is not your average hotelier, as her energy, passion and adventurous nature are what drives her, and she believes that hospitality has to be a way of life and not simply a job. Lynda Clark chats to her about her career, her plans for the future and her charity work.
HOMEPAGE 9 FTB Loves...
include remembering that your rst home doesn’t have to be perfect! 14 House Hunter We go on the hunt with Rebeckha and Ollie Woodhall who are relocating and looking for a home with two or more bedrooms with good links to Exeter. 16 Developer’s doctor Minnie Dando, Head of Marketing & Communications at Hyde New Homes answers your property question this issue.
FEATURED
18 The View: Tayo and Antoinette Oguntonade Tayo and Antoinette Oguntonade run the highly successful BrickzWithTipz, an online digital platform which makes buying a home accessible to everyone. Tayo is also a podcaster and TV presenter and can be seen presenting Great House Giveaway on Channel 4. He is also an experienced mortgage broker, property expert and in uencer. Lynda Clark spoke to them to nd out how it all started, the rst
explores some small changes you can make to help your savings pot. 28 A Simple Guide to London Living Rent and Rent to Buy London Living Rent or Rent to Buy are excellent options to buy your rst home. Both schemes offer rst timers a home at below market rent which allows you to build up your savings and ultimately buy your home through shared ownership.
With Halloween on the horizon it’s time to celebrate all things spooky! Our round-up of some perfect accessories for the family to enjoy this fright night! 10 Living It’s time to put on your dancing shoes and razzle-dazzle with the help of these disco-themed accessories for around the home. 12 At home with: Clare Seal Clare is the creator of the @myfrugalyear Instagram account and is author of Real Life Money and Five Steps to Financial Wellbeing . She talks to Lynda Clark about her story and her future plans and puts her expertise as a nancial coach to use by giving her top three tips to help rst time buyers to take a rst step on to the housing ladder. These
property they bought and they give some great advice for rst time buyers. 22 Speed up your saving Trying to save for Speed up your
10
a deposit is daunting but Debbie Clark
4 First Time Buyer October/November 2024
CONTENTS
18
THE VIEW, PAGE 18
Tayo and Antoinette Oguntonade
IT IS GREAT TO DO RESEARCH BUT SOME PEOPLE TRY
TO BYPASS SPEAKING TO THE RIGHT PEOPLE AND CAN GET INTO LOTS OF DIFFICULTIES 70
94 Shared Ownership - The Resale Process! Charlotte Simpson from Owen Paulo Legal gives the lowdown on what a resale shared ownership home is. 98 Finance With the arrival of the new Labour Government, Kay Hill examines what the party has promised with its “get Britain building again” programme and other initiatives. 100 Market Ginetta Vedrickas explores the new Government’s rooftop revolution to cut energy bills and tackle the climate crisis. 102 Agony Agent All your property questions answered by our panel of experts. 105 Buyer’s Guide Check out FTB’s Buyer’s Guide, which walks you through the property buying process. 110 Staircasing at a glance Coralie Phelan, Partner and Head of Resales and Staircasing at Prince Evans Solicitors LLP, explains what staircasing is and how the process works. 112 Directory Check which scheme is right for you, plus some useful contacts. 118 20 Questions We ask 20 quick- re questions to a property expert and in this issue Joel Taylor, Head of Business Development & Marketing for Owen Paulo Legal, takes his place in the spotlight.
REGULARS
First Time Buyer Readers’ Awards – your winners revealed
68 Hotspot We look at Brighton & Hove as places to live. 88 First home, rst meal A delicious recipe for cheese souf e created by Manoj Prasad, Head of Food Development at Heartwood Collection, which includes Brasserie Blanc and Heartwood Inns. 89 Know how Moving to a new home can be quite stressful but our useful checklist will help you to make the move smoothly and ef ciently. 90 The lowdown on fees Stephen Ward, Director of Strategy and External Relations at the Council for Licensed Conveyancers, explains what referral fees mean and how they might affect you when you buy your new home. 92 Why use a specialist solicitor when buying an affordable home? Andrew Theoff, Director at Shared Direction Conveyancing, explains why you should use a specialist conveyancer when buying an affordable home.
87
Competition Win a new security system from Burg-Wächter worth £70.
First Time Buyer October/November 2024 5
LETTERS
Mailbox WRITE TO US!
Please send us your questions, comments and suggestions concerning property, or the articles in First Time Buyer magazine.
lynda@ rsttimebuyermag.co.uk
IS THE PRICE NEGOTIABLE? Is the cost of a first time buyer property negotiable? I am not a natural haggler, and doing so makes me a bit uneasy, so I am not sure if it is a good idea or not? I have seen a home I like but I am not sure whether to proceed. Kitty Brenan
FTB says:Yes, you can negotiate on the price of a property. Remember, as you are a first time buyer, you are chain free and if you have a mortgage agreement in principle in place you are an attractive proposition as a potential buyer. The ability to negotiate a house price is not a skill that comes naturally to everyone. However, even a small percentage drop could make a big difference to your budget. It is best to offer between 5% and 10% lower than the market price, but always go lower than your maximum to allow room for negotiation. Try to research house prices in the area with similar square footage and the number of rooms to make sure you are buying at a fair price.
BUYING OFF-PLAN I have been told that buying off-plan would be a good move for my first property. What does this mean and what are the benefits of
doing this? Joe Timber
FTB says: Buying off-plan means committing to purchase a property before construction is complete. This can feel daunting since you will need to rely on the developer’s floor plans, price lists, and other documents to make your decision. Typically, buying off- plan involves signing a contract and paying a deposit to secure your plot. The deposit amount varies by developer but is often between £500 and £2,000. There are advantages to buying off-plan as often you can choose your fixtures and fittings, and it’s definitely worth asking the developer what incentives it offers for committing early to a property – you might even be able to negotiate a discount.
Perfect to transform your garden furniture in just three simple steps, this issue’s star letter prize wins a can of Edding Primer, £9.99; Edding Acrylic Paint, £7.50; and Edding Lacquer, £7.50; all available from Amazon. With 30 colours to choose from, these paints will revive your tired outside space and bring colour accents to your garden or patio with a scratch and impact resistant nish. This Edding permanent spray is quick and easy to use on outside tables, chairs and even lanterns.
CONVEYANCING PROCESS As a first time buyer I am a little confused by some of the procedures. How long will the conveyancing process take when I commit to my first home? Tom Taylor FTB says: For a first time buyer, the conveyancing process typically begins after your offer on a property is accepted and can take around eight to 12 weeks to complete. This process involves a series of important legal steps to transfer ownership from the seller to you. Your solicitor or conveyancer will conduct essential searches, such as checking for any local authority plans or environmental risks
VISIT OUR WEBSITE For everything you need to know about buying for the rst time, go to rsttimebuyermag.com staying in close contact with your solicitor and other parties involved can help ensure a smoother process. address any issues uncovered during surveys or valuations. Communication is key, so that could affect the property. They will also handle the paperwork, ensure there are no legal issues like boundary disputes, and liaise with your mortgage lender. Throughout this time, you will be required to sign contracts, arrange your mortgage, and potentially
edding.com
SNAGGING I have heard that new homes can sometimes have issues. What steps would I need to take if my new property had any problems, and would there be any warranties on the building? Katie Cox FTB says: It is true that some new properties can have issues, but fortunately, there are safeguards in place to ensure these problems, known as snags, are addressed promptly. The Consumer Code for Home
Builders regulates the new build home sector, and all builders must follow this code. Every new build home comes with a warranty. Typically, a builder’s warranty covers structural issues for about 10 years. Additionally, there is usually a developer warranty that covers smaller issues with fixtures and fittings for the first two years. It is a good idea to hire a professional snagging company to inspect your new home and provide a list of any issues that need to be resolved.
First Time Buyer October/November 2024 7
FTB LOVES
SPOOKY SEASON
With Halloween on the horizon, transform your home to look scarily inviting. These minimalist Halloween themed interior ideas will
add that festive feeling this fright night, helping you find the perfect balance between tacky and tasteful during one of the more garish holidays. From cosy candles to graceful ghouls, we have everything covered to create the perfect spooky setting
Pumpkin wood serving board , £6.50, Matalan , matalan.co.uk
Ceramic ghost Halloween tea light holder , £4.99, Ginger Ray, gingerray.co.uk
Wicker pumpkin , £TBC, Dobbies, dobbies.com
Ghost face Halloween dinner candles , £4.99, Ginger Ray, gingerray.co.uk
3D ghost ball cushion , £15, George@Asda, george.com
Green Reactive Glaze pumpkin serving bowl , £14, George@ Asda, george.com
Pumpkin nibble bowl , £3, Matalan, matalan.co.uk
First Time Buyer October/November 2024 9
Homepage LIVING
GET INTO THE GROOVE Adding disco-inspired elements into your home can bring a unique, lively twist. With bold colours, mirrored accents and fun lighting, a touch of disco can transform your space, making it unforgettable. So why not throw it back and add retro vibes which offer a stylish, energetic flair that sets your home apart from the ordinary?
Bronze disco pumpkin , £4.50; Disco large pumpkin , £7, Primark
Geometric cushion , £9.99, Homescapes Online
Basket , £8, Primark
Poster print , £15, Lime Lace
Floral daisy cushion , £12.99, Homescapes Online
Disco ball mirror , £55, Make. It. Disco
Disco legs print , £65, Rockett St George
10 First Time Buyer October/November 2024
Homepage LIVING
Marble mirror , £7, B&M
Disco ball hanging planter , £26.95, All Things Brighton Beautiful
Disco glass , £15.99, Wayfair
Mirror lamp , £29.99, Homesense
Photo frame , £22, Monsoon
Wine cooler , £40, Rockett St George
Dancing Queen poster , £9.95, Desenio
Disco ice bucket , £35, Dunelm
Wine glass, 4 pack , £12, George Home
Kitchen disco print , £8, pinkgiraffeprintco.com
CONTACTS » All Things Brighton Beautiful allthingsbrightonbeautiful.co.uk » B&M bmstores.co.uk » Desenio desenio.co.uk » Dunelm dunelm.com » George Home direct.asda.co.uk » Homescapes Online homescapesonline.com » Homesense homesense.com » Lime Lace limelace.co.uk » Make. It. Disco. makeitdisco.com » Monsoon monsoon.co.uk » Pink Giraffe Print Co pinkgiraffeprintco.com » Primark primark.com » Rockett St George rockettstgeorge.co.uk » Sparkle Lighting sparkle.lighting » Wayfair wayfair.co.uk
Fairy lights , £14.95, Sparkle Lighting
First Time Buyer October/November 2024 11
Homepage LIVING
At home with: Clare Seal
“TAKE TIME AND LIVE IN THE SPACE BEFORE YOU GO OUT AND BUY A BIG PURCHASE”
Clare is the creator of the @myfrugalyear Instagram account and is author of Real Life Money and Five Steps to Financial Wellbeing . She is also a financial coach working with brands and individuals to address financial wellbeing and bring a new perspective to what sometimes can be a stale conversation. She chats to Lynda Clark about how it all began, her plans for the future and gives her top tips to help first time buyers save to get on the property ladder
bedroom terraced house with a lovely garden and garage and is the perfect design for family living, plus it’s near the school where my son goes, so it ticks all the boxes! FTB : You struggled with personal debt – can you tell us about that? CS: In 2019 I had a big wake-up call as things had been tight for a while but I kept telling myself it was all ok, but it really wasn’t. I am sure my story resonates with a lot of people especially since the cost-of -living crisis – we were very young when we started a family and we also got married
FTB : Tell us about your first step on the property ladder? CS: We bought the house we now live in, which is a new build, in 2022. My husband was initially keener than I was on a new build but we have two young children and apart from the fact we are not very “handy” when it comes to DIY, we don’t have a great deal of time. It was the right choice as it was ready to move into and we didn’t have to do anything to it. We saw the development and really liked it and reserved off-plan, so we were able to choose the flooring and kitchen, which was great. It is a three
12 First Time Buyer October/November 2024
Homepage LIVING
so there were a lot of extra costs. Luckily, my husband got a new role at work which came with a pay rise. I worked as a brand manager in marketing, but I was never a high earner and I really didn’t like the job. I had a baby under one and my son just starting school and I was very unhappy about my job and decided to go freelance. I was lucky as one of my old companies offered me 12 weeks’ work, which worked out very well. At last, we managed to save and it was a sprint finish to pay off our debts and get our deposit together. FTB : Tell us about the two books you have written? CS: The first book I wrote is called Real Life Money , which is partly a memoir and partly a guide on how to be wise with your money. It is extremely hard to save consistently and there is a wilful ignorance about how to save to get on the property ladder. There is a huge psychological effect that goes with trying to save. Many people believe that saving for your first home and getting on the ladder are way out of reach, but I do believe that sometimes you should just buy that takeaway coffee and cheer yourself up! But when you are saving, the small things do add up – for example if you buy a latte if will cost you £4.50 and if you decide to forego the coffee you can save the money and you would be surprised how the savings pot grows. The secret is that you need to save the money straightaway and not think you will do it at the end of the week as you probably won’t. The other book is called Five Steps to Financial Wellbeing and this is more about how our sense of wellbeing is impacted by money and things associated with it. FTB : You are also a financial coach, can you explain what you do? CS: I am a certified financial coach and I do corporate coaching with large company employees so they are equipped to understand the way money works on both a practical and emotional level. I talk to everyone from graduates to directors, so it is a very diverse range of people. I am now looking to broaden my expertise with an FCA-accredited DipFA. Next year I would also like to start a foundation year as a psychological therapist, which is someone who can give people financial therapy. It was established in the US and is only in its fledgling stages here in the UK – it will help with money worries, spending problems and is not just limited to people on low incomes. It will also advise anyone on what their next steps might be. FTB : You have a big social media influence, can you tell us about that? CS: Originally I was only on Instagram but
“WHEN SAVING, DON’T FORGET TO ADD THE EXTRA COSTS THAT ARE INVOLVED LIKE STAMP DUTY IF APPLICABLE, MOVING COSTS AND CONVEYANCING FEES”
it has now spread but I am just getting my head around TikTok! I have about 120,000 followers on Instagram which is great. FTB : What are your top three tips to help when trying to buy your first home? CS: 1. When saving, don’t forget to add the extra costs that are involved like Stamp Duty if applicable, moving costs and conveyancing fees. So, ensure your house buying fund and deposit take these into consideration, which will save so much stress in the long run. 2. It is a very exciting time but you
don’t have to make your home perfect straightaway. Take time and live in the space before you go out and buy a big purchase. 3. Keep a net worth spreadsheet so you can see all that happens to your money when you move your cash around. Sometimes it can feel very strange when you have to pay an amount to say a conveyancer for example. Suddenly the money is gone, and you can worry, but you have to remember that ultimately it is equity in your new home, so don’t let it cloud your judgement.
@clare.seal
First Time Buyer October/November 2024 13
Homepage FIRST RUNG
The HOUSE HUNTER
What we found…
THE QUAINT TOWN
THE COUNTRY RETREAT
Lavender Rise Axbridge, Somerset
Blackmore Meadows Stalbridge, Dorset
This month FTB goes on the hunt with Rebecka and Ollie Woodhall who are relocating to the South West and seeking a home with two or more bedrooms with good links to Exeter
A range of spacious four bedroom homes is available through shared ownership at this development on the edge of Stalbridge. The Bovis Homes properties sit on the edge of the small but bustling town and within easy reach of Sherborne and Sturminster Newton. The interiors of the homes have been nished beautifully and feature plenty of natural light, via the French doors in the kitchen/dining space. There’s a separate lounge, while upstairs you’ll nd the main bedroom with en suite, bathroom and three more well-proportion bedrooms, one with an en suite.
Somerset’s smallest town, Axbridge, is home to this new collection of maisonettes and family houses, perfect for rst time buyers. The Bellway development includes a range of house types, with one bedroom maisonettes and three bedroom houses available through shared ownership. All have been created with energy ef ciency in mind. Historic Axbridge has plenty of amenities and opportunities for outdoor activities, while the stunning city of Bath, for fantastic shopping and world-famous architecture, is a 20-minute drive.
PROFILE
Names Rebecka Woodall, 37, Ollie Woodhall, 42 Occupations IT Support Manager, Customer Services Manager Maximum budget £250,000 Requirements A home with two or more bedrooms in the South West of England, with good links to Exeter and a range of local amenities and entertainment within easy reach
What they wanted…
We are seeking a new home in the South West, but we’re undecided as to exactly whereabouts. We de nitely need some help with that decision! We’re currently located just outside Reading, where we have been for a few years. After lots of holidays in the South West – and after both gaining work-from-home contracts – we’ve decided we’re ready to escape to the country! I have family in Exeter, so it would be ideal to be within a 30-minute drive. We’re both adventurous types who love outdoor sports and exploring, so we want to be somewhere that offers that in abundance. We also love driving to the coast and trying things like sur ng, so we’d love to be closer to some good beaches. We’re used to being close to shops, so we’d like to keep that convenience. Good cafes and options for eating out close by would be great; and we’d like at least two bedrooms to make home working easier.”
homereach.org.uk
homereach.org.uk
*Based on a 50% share of the full market value of £190,000
*Based on a 50% share of the full market value of £450,000
What they thought…
This is such a pretty part of the country, with so much green space and beautiful little villages. Stalbridge is lovely, and nearby Sturminster Newton has some stunning sights. So we know there would always be new and interesting places to explore. The properties at Blackmore Meadows are also really nicely designed. We love the period-inspired styling, which is de nitely our cup of tea. And there’s so much space, too; perhaps a good place to start a family in the future – who knows.”
Axbridge looks really lovely, and would be such a huge change to what we’re used to. The development is an attractive one and it’s so exciting that we’d be able to afford a house here. We just love the style of the semi-detached homes, and know we’d make the most of all that space – such a big change from our one bedroom apartment. This is a great location in terms of enjoying all aspects of life. Bath is close by, as well as good beaches – Weston Super Mare is only a 25-minute drive away too.”
14 First Time Buyer October/November 2024
Homepage FIRST RUNG
First choice!
THE CITY BUSTLE
THE SEASIDE DREAM
St. Leonards Quarter Exeter, Devon
Seascape Ilfracombe, Devon
These impressive two bedroom homes sit on the edge of pretty Ilfracombe, the Devon seaside town known for its striking coastline and Tunnels Beaches, and just moments from Exmoor National Park. The properties feature an open-plan area that incorporates kitchen and dining and a contemporary lounge that opens to the back garden via French doors, plus a cloakroom. The new homes also include an integral garage space. This is a popular town, with a great range of amenities within a short drive and an interesting history.
The beautiful city of Exeter is an ideal base for buyers seeking a slice of bustling life, with the beauty of the Devon coast and country on the doorstep. This new collection of one to ve bedroom apartments and houses is situated in sought-after St Leonards, close to the heart of Exeter. The high- spec properties enjoy landscaped green space and have been created with energy ef ciency in mind. The River Exe lies just a few minutes away, along with an impressive range of historic venues, the cathedral, shops, pubs and quirky eateries.
*Based on a 50% share of the full market value of £260,000
THE NEXT STEP
“We have planned a weekend trip to Devon to drive around the area again and really ensure this is the right location for us – even though we’re pretty sure this is the one! We have a mortgage agreed in principle, and we’re ready to get this homebuying ball rolling!”
elan-homes.co.uk
acornpropertygroup.org
We’re so impressed with the styling of the properties at this development – they’ve really kept the feeling of the local area, and look very ‘Devon’ indeed. We just love the bright and modern interiors, too – they’re really fresh, and there’s plenty of space. For us, this location really is ideal: Exeter is super close for bustling city life, while some amazing coastline is only 20 minutes away. Meanwhile, some of the most stunning countryside is right on the doorstep. This is a super-exciting option for us!”
Ollie’s family used to holiday in Ilfracombe and he has fond memories of the area. The rugged coastline and amazing range of seafood restaurants come highly recommended! There certainly is loads to do. Exmoor is on the doorstep, and we’d be within walking distance of the beach, which is something we’d never expected on our budget. We really like the styling of the properties and the design elements, and the integrated garage is a bonus too.”
We have always loved Exeter. It’s a wonderful city, with a real buzz about it. We have enjoyed visiting my family here, and always end up staying longer than we’d planned. There’s so much to see and do, and the development is brilliantly located, so this would be an exciting option. We particularly like the contemporary design of the buildings, and the focus on energy ef ciency means that bills would be lower. The amazing moors and picturesque beaches are within a 30-minute drive, so it’s win-win.”
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First Time Buyer October/November 2024
ADVICE
Minnie Dando is Head of Marketing & Communications at Hyde New Homes.With 18 years’ experience in property, in both shared ownership and outright sales, she has successfully built a specialist team with expertise in all areas of branding and marketing. Minnie is passionate about placing the customer at the centre of all marketing activity, as well as helping young people on to the property ladder, or providing a springboard for those taking the next step into a more spacious family home Q We are a young couple buying our first home. Sustainability is important the site.Where possible, existing hedgerows surrounding the site were also buffered and enhanced and mature trees preserved.
Minnie Dando, Head of Marketing & Communications, Hyde New Homes
taken a “fabric first” approach, which simply means by focusing on reducing a home’s heat loss, you can achieve a low-carbon, sustainable home that’s affordable to heat. Riverside Square in Canterbury, for example, has been built with sustainability firmly in mind, with houses receiving an EPC rating of A and apartments at B. Here, a fabric first approach has increased the homes’ energy efficiency, reducing CO2 emissions and lowering energy bills. Further extending the sustainability, natural light has been maximised throughout, reducing the need for artificial light, and water efficiency has also been prioritised. To register your interest in one of our sustainable homes, please visit hydenewhomes.co.uk/wildbridge hydenewhomes.co.uk/riverside-square
to us.What does the EPC rating mean and what other sustainability features should we look out for? A The Energy Performance Certificate – EPC of a property – rates its energy efficiency from A (the highest rating) to G, based on a number of factors including lighting, ventilation, hot water and heating fuel type. It also takes the property’s environmental impact into account.The higher the rating, the more energy efficient the home. As well as helping sustainability conscious buyers make more informed choices about where to buy, you can also use an EPC rating to gauge the likely energy costs of a home. New homes are usually higher rated and you would therefore benefit from lower bills as well as improved sustainability. Our homes at Wildbridge in Yapton, for example, possess the highest EPC rating,A, thanks to their superior insulation, double- glazed windows and the renewable energy generated from solar photovoltaic panels on the roofs of all the homes. Overall, by using best-practice energy efficiency measures and strategically located renewable energy installations, we have reduced energy demand by 33.58% across the development. For residents at Wildbridge, this means utility savings of around £330 per year as a result – another plus for starter home buyers on a budget. The EPC rating is just one aspect of a property’s sustainability credentials.The rating is key to understanding a home’s energy efficiency, but there are plenty of other factors to consider. For those keen to preserve nature and maximise biodiversity,Wildbridge’s sustainable drainage system features five basins that ensure water is collected and distributed gradually and evenly.To enhance wildlife habitats, these “SUDS” ponds feature wet- tolerant meadow mixture planting that has contributed to a biodiversity net gain across
Location is a crucial consideration when choosing a home. Living within walking distance of shops, healthcare services, leisure venues and other daily essentials can significantly reduce the need for regular car journeys. Additionally, homes situated near public transportation, such as a railway station or bus route, make commuting more convenient and eco-friendly. At Wildbridge, for instance, Barnham railway station is just a short 15-minute bus ride away. Furthermore, the inclusion of electric vehicle charging points at Wildbridge promotes greener travel by road, enhancing the community’s commitment to sustainability. For new homes, ask if the developer has
Close to the charms of the coast and the countryside, Wildbridge is a
delightful new community of homes in Yapton, West Sussex. Comprising a variety of layouts and designs, the collection of two, three and four bedroom houses and bungalows, for sale through shared ownership, provides exciting opportunities to suit a wide range of different lifestyles.
In keeping with Hyde New Homes’ reputation, each home features an impressively high speci cation – from the contemporary, integrated kitchens to the sleek, quality ooring. Extending the development’s rural village-feel, homes are set around thoughtfully landscaped open spaces, with each house having its own private turfed garden. Allocated parking spaces to each home make it easy to get out and about. Explore the Wild Side of West Sussex Positioned between the undulating greenery of the South Downs and some of West Sussex’s most popular coastal hotspots, buyers at Wildbridge can explore the diversity of nature without travelling far from home. Whether traversing one of the area’s many trails or cycle routes, or relaxing with a picnic on a sunny beach, there are plenty of opportunities to enjoy the great outdoors. For day-to-day life, Yapton is well equipped with a range of essentials from well-stocked shops to tantalising restaurants. For young families, Wildbridge is located within easy reach of a selection of schools rated as Outstanding or Good by Ofsted. Prices at Wildbridge start from £110,250 for a 35% share of a two bedroom home with a full market value of £315,000.
To book your viewing, visit hydenewhomes.co.uk/wildbridge
*Based on a 35% share with a full market value of £315,000
16 First Time Buyer June/July 2018
October/November 2024
THE VIEW
TOP OF THEIR GAME!
Tayo and Antoinette Oguntonade run the highly successful BrickzWithTipz, an online digital platform which makes buying a home accessible to everyone. Tayo is also a podcaster and TV presenter and can be seen presenting Great House Giveaway on Channel 4, which in 2022 scored a hat-trick, winning Best Daytime Programme at the BAFTAs, RTS and Broadcast Awards. He is also an experienced mortgage broker, property expert and influencer. Lynda Clark chatted to them to find out how it all started, hear about the first property they bought at the age of 22, and discover their great advice for first time buyers
Photos: Adejare Adelano/AV Media
20 First Time Buyer December 2021/January 2022
18 First Time Buyer October/November 2024
THE VIEW
"WHEN WE BOUGHT OUR FIRST PROPERTY TOGETHER WE COULD NEVER HAVE AFFORDED IT ON OUR OWN. I REALLY THINK COLLABORATIVE BUYING IS A TREND NOW BECOMING THE NORM"
First Time Buyer October/November 2024 19
THE VIEW
T ayo and Antoinette certainly don’t let the grass grow under their feet! I am breathless just hearing how much they do running BrickzWithTipz and The Homebuyers Club, Tayo’s television work, their many speaking engagements, Antoinette's full-time work as a Management Accountant, and they have two little girls who are just two and three! But you know instantly how passionate about property and helping others get on the ladder they are.
me as all my friends were back in south east London and it was quite a long journey to go and see them. "I eventually went to a sixth form college in Beckenham and many of my old friends went there too which was great. It was rather strange, though, because we were surrounded by quite privileged people. For example, when they passed their driving test they would be given a brand new car straight out of the showroom, and that was never going to be the situation for me or my friends. So, I realised if I wanted a car I would have to work and save. We all got jobs – I worked in Sainsbury’s – and I saved and saved and eventually bought a 12-year- old Ford Fiesta, which wasn’t new but it got me around and opened up my world.” Tayo and Antoinette went to the same university studying economics and graduating in 2013. Tayo said, “My student loan didn’t cover what I needed for rent let alone living expenses. Again, I had to get a part-time job to help and I also managed to save again. I was crazy on cars at that time so it made me work really hard so I could save up to buy a new car. I worked for a telesales company and I even stayed there during the holidays, often working between 60 and 70 hours a week, so I could continue working and saving. I actually managed to change my car three times
Although Antoinette is a Management Accountant, her true passion lies in helping people achieve financial freedom through financial literacy and helping them get on the property ladder. Tayo was brought up in south east London and he describes the area as “tough”. His parents, who are originally from Nigeria, instilled in Tayo and his two brothers that getting a good education was very important and so he took his schooling very seriously. “I loved maths as I am a numbers person, but my parents moved to Catford and then further out to Orpington in Kent, which was a big change for
during the period I was studying because I was saving so hard. "My interest in property started when I was in a house share and I got friendly with the landlord and as I am a numbers man I worked out how much he made from all the rents he took. After I left uni I went back home and lived with my parents who didn’t want me to pay
"I REALISED IF I WANTED A CAR I WOULD HAVE TO WORK AND SAVE. WE ALL GOT JOBS – I WORKED IN SAINSBURY’S – AND I SAVED AND SAVED AND EVENTUALLY BOUGHT A 12-YEAR-OLD FORD FIESTA, WHICH WASN’T NEW BUT IT GOT ME AROUND AND OPENED UP MY WORLD”
any rent, which was very good of them. I got a job and managed to save about £1,100 a month and then I spent whatever was left over on myself. I did realise though that every time I bought a new car, its value depreciated the minute I drove it away and it got me thinking that I needed to invest in something that actually went up in value.“
20 First Time Buyer October/November 2024
THE VIEW
property ladder, as they are given the cash to buy, renovate and sell a house and keep any profit they may make. Both Tayo and Antoinette are super busy but still find time to support other things. They both work with 2020 Change, a youth empowerment organisation renowned for helping young people realise their potential and cultivate the right mind- set to engage with today’s changing society. Antoinette is passionate about trying to start teaching children in schools as young as 10 about how to save, budget and get ready for the future. She explained, “Young people grow up with no experience of what life and its challenges are all about. I think it is very important to take ownership and control of the choices you make, but sadly young people are not prepared for this. I am trying to change this and I hope I can start making a change as the future generation need to understand about money, budgeting and saving for their future.” They have some excellent advice for first time buyers and said, “Always contact the experts before you start. It is great to do research but some people try to bypass speaking to the right people and can get into lots of difficulties. Contact a reputable mortgage broker who will give you the correct information about your finances and what you can actually afford as it will pay dividends in the long run. Create a list of important things you want in a home. Your first home is unlikely to be your forever home but you need to understand what is attainable. If you have three children then you will need a two bedroom property at the minimum. If you have a car check out where you can park it – the list should consist of your needs compared to your wants and you might have to make sacrifices along the way.” Antoinette and Tayo are helping so many first time buyers with their passion and expertise – they truly are inspirational.
Antoinette and Tayo have started The HomeBuyers Club, which has enabled them to reach people on a personal level, assisting them through the homebuying journey from start to finish. Antoinette said, “We support them and provide a close knit community of people who want more in-depth information. We have one-to-ones with them and they have access to us both whenever they want to. We put on regular live webinars and actual events where they come along and we advise them in person and often banks get involved, as we have great relationships with the banks and they go home with a goody bag too! Some of the advice we give is to make a goal of saving around £400 a month and open a Lifetime ISA.We know the power of education is invaluable. It costs £37 a month and is very, very popular." It was during the pandemic that Chwarel, a production company in North Wales, saw a YouTube video Tayo had made and contacted him about presenting a show on Channel 4 called Great House Giveaway . Tayo was a great success and the fourth series will be on air early next year. This year the show won Best Daytime Programme at the BAFTAs, RTS and Broadcast Awards and Tayo was nominated for Best Debut Presenter at the Edinburgh Television Festival. Tayo co-hosted On The Money for Channel 4 digital, which achieved huge audience engagement, three times the channel’s benchmark and ranked in the “top three most watched” 4Studios branded content on YouTube and “most watched” on Instagram. He also joined the presenting team on the Channel 4 show, Key to a Fortune , a transformational series that re-unites families with homes – and relatives they didn’t know they had. Tayo recently filmed a social-first series called Make Your Move for Channel 4 which was sponsored by Skipton Building Society. He helps turn three couples' financial fears into an optimistic outlook as they look to buy their future home. Tayo also presents Great House Giveaway and series five is in on television every Monday. This show offers two strangers a chance to get on the
They both knew they wanted to buy their own property as soon as they possibly could. During their first foray into buying a home they both realised there was hardly any fundamental information out there to help. Initially they wanted to buy in north London, which is where Antoinette came from, but soon realised that it was way out of their budget, and then they researched south London and again it was too expensive, so they decided to look further outside of London. Antoinette said, “Initially I was apprehensive about moving to Kent as it was far from everything I knew. However, I understood that sacrifices were essential for progress, a principle I teach today.Your first home may require some sacrifices, but it is worth it in the end to get on the property ladder.” They looked at how much they could afford and looked around the Sittingbourne area. It was a bit of a gamble as they didn’t know the area but realised it was up-an- coming so would be a good investment.They now live in south east London with their two young daughters in a four bedroom terraced house. They still have the house in Sittingbourne which has doubled in value. Antoinette added, “It is important to be realistic as to what you can afford to buy. After we bought our first home, many of our friends and family were amazed as to how we achieved it. We shared our experience and knowledge with them and explained how it was possible to buy. We didn’t gatekeep our salaries and we were very transparent. Our friends and family then took our advice and bought themselves. It was then that we had the idea of starting a website which would help with financial literacy and eliminate the scaremongering which is associated with buying for the first time. It is difficult these days we know, because of the cost-of-living crisis and wages have not gone up with inflation. "When we bought our first property together we could never have afforded it on our own. I really think collaborative buying is a trend now becoming the norm, whether it’s buying with spouses, siblings, parents, friends or even colleagues. Statistics reveal that six out of 10 first time buyers purchase with someone else, which is a real eye-opener. It is important, though, to draw up a legal document when you buy with somebody else so everyone knows where they stand. Also, it is vital to discuss the pros and cons before actually buying together to ensure everyone is on the same page. So, we really wanted to help other people achieve their dream and started BrickzWithTipz about five years ago. It has gone from strength to strength and on social media we have over 100,000 followers across all the channels.” As a spin-off from BrickzWithTipz
IG: @brickzwithtipz TikTok: @brickzwithtipz Website: brickzwithtipz.com thehomebuyersclub.co.uk
"INITIALLY I WAS APPREHENSIVE ABOUT MOVING TO KENT AS IT WAS FAR FROM EVERYTHING I KNEW. HOWEVER, I UNDERSTOOD THAT SACRIFICES ARE ESSENTIAL FOR PROGRESS... BUT IT IS WORTH IT IN THE END TO GET ON THE PROPERTY LADDER"
First Time Buyer October/November 2024 21
SAVINGS
We all know that we need to save for a deposit if we want to get a foot on the ladder, but it’s a lot easier said than done! Debbie Clark summarises some small changes which can accelerate your saving journey. As the old saying goes, if you look after the pennies then the pounds will look after themselves! SPEED UP YOUR SAVING EXPERT COMMENT
Having a healthy credit score can be the key to unlocking a great mortgage deal. Your score shows how lenders will view your creditworthiness – which is your ability to manage credit well. So, the better your score, the more likely you are to be accepted at the best rates. Here’s my top tips for how you can improve your credit score: Check your report and score You should regularly check your free Experian credit report and score so you know where you stand. If you’re applying for a mortgage, you’ll want to check at least six to 12 months in advance. Then you can monitor your credit score to track your progress and make sure you’re ready to apply. Pay your bills on time Just one missed payment can have a big impact on your credit score, so you’ll want to make sure you keep all your payments up to date. Setting up direct debits will help to avoid any mistakes. Reduce credit card balances Having credit card balances that are close to your credit limit can have a negative impact your score. So, think about paying balances down before you apply. A good rule of thumb is keeping your balances below around 25% of the credit limit. If you’re on a promotional rate this rule might not apply in the same way. Get on the Electoral Register Being on the Electoral Register not only improves your Experian credit score, but it also helps lenders identify you when you apply. Just make sure to re-register as soon as you move into your new home. Don’t apply for lots of new accounts Applying for lots of accounts in a short space of time can reduce your credit score. So, try not to take out any new credit for a few months before you apply for a mortgage.
Let’s start with the boring stuff. It’s not possible to know where you can make savings unless you know where your money is going. Start by taking a thorough look at your online banking; most banks have tools to help you analyse your current spending – use them! Some spending is non-negotiable, namely your rent and bills. Do you know when this money leaves your account? If you are paid monthly, it is useful to time these for just after payday so you can clearly see what money you have available for the rest of the month. Even better if you can automate saving at the same time – make it a non-negotiable too, rather than hoping there’ll be some left at the end of the month. While some outgoings are essential, don’t assume savings are impossible. With most insurance firms, for example, you pay a premium to pay monthly. If you can afford to, pay up-front. It may feel like a big hit to your savings but will save you more in the long-run. Check your utility companies and mobile provider too to check you are getting the best prices. If you are able to make savings, automate that saving too – you’ve already been paying it so won’t feel the hit. There are likely other areas you can identify where you could make savings, however small. Many people have unused subscriptions, or long-forgotten memberships, for example.Your online banking is also a great place to check for these. Be honest with yourself about how much you are using these subscriptions, and if you would miss them. If you are keen to take a deeper dive into your spending, apps like YNAB and Mint can help you to track your finances systematically and identify any patterns. In any household, food shopping is one of the biggest expenses, so this is another great place to make small changes. Meal planning will help save money and avoid unnecessary waste, especially if combined with batch cooking, so try to always shop with a list and stick to it, opting for generic products, not brand names. Look out for
community pantries in your area too – helping the planet while you save. Saving for a new home is also the perfect time to declutter, embracing minimalism! Could you make some money selling items on Vinted or Facebook Marketplace? It might help to ask yourself if you envisage those items in your new home.When shopping, focus on only buying what you really need. If you know you’re an impulse buyer, try imposing a 30-day rule – if you’re tempted to spend, wait. If you still want it a month later, go ahead! However, don’t make any purchases without doing your research… The internet makes it very easy to compare prices fast. There are also usually discount codes to be found if you look hard enough, and always check to see if cashback is available (take a look at Topcashback, Quidco and other major cashback sites). Check too for any loyalty rewards or offers from your bank or credit card. Planning for your future home is a great time to focus on your health too – reducing or quitting tobacco or alcohol will have fantastic benefits for both your health and finances. If you’re a gym member, consider switching it up and exercising at home, using online workouts or apps to make savings on a pricey membership. Remember, saving doesn’t have to be lonely. Chances are if you are struggling to save, friends are too. Talk to them about your goals and plan activities together like walks, movie nights and free museums. You could plan a "no spend weekend" with friends or family too, using up leftover food from the week. You could even suggest book swaps with friends, or skills swaps (“Could you help with some DIY, and I’ll do your nails?”) to allow you to enjoy some luxuries that you may otherwise be missing while saving. Finally, with the festive season on the horizon, be careful not to let all your hard work go to waste. Budget frugally for any gifts or special events and, when you’re tempted to blow that budget, keep the dream of that first Christmas in your own home firmly in the front of your mind!
John Webb, Consumer Affairs Manager, Experian
22 First Time Buyer October/November 2024
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