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Posted: 13 December 2013

Canadian first time buyer puts down roots in poplar

Having rented at five different London addresses in the last five years since moving to the UK, 35 year old Financial Analyst, Kathy Schroeder realised that the money she was spending on rent could be used to purchase her own property through Family Mosaic’s shared ownership scheme available at New Festival Quarter, E14.

Kathy comments: “I grew up in Winnipeg, in the middle of Canada. I have always enjoyed travelling and have lived in three different cities over the past decade; Zurich, Sydney and now London. After renting in London for past five years, I felt it was the right time in my life to settle down. Initially I planned to buy in Tower Hamlets to stay near my friends but after finding out about the Family Mosaic shared ownership scheme, I booked a viewing at New Festival Quarter.”

“As soon as I walked into the show apartment, I knew I had found my next home. I cancelled all other property viewings for that week as it was everything I was looking for. It was a bright, modern one bedroom, one bathroom apartment with a generous open plan kitchen and lounge area leading to a double balcony. The well-equipped gym in the building and 24 hour concierge service were a wonderful benefit. I was also drawn to the guarantee that comes with a new build property.”

The shared Ownership scheme available through Family Mosaic ensures their apartments represent unbelievable value for money. You can start by purchasing as little as 25% and increase your share at any time all the way to 100% and outright ownership. You will pay a Government subsidised rent on the remaining share of the property. It’s a great alternative to renting as often the combined monthly mortgage payments and Government subsidised rent is lower than for private, rented accommodation.

Kathy concludes: “It’s only a 25 minute bus ride to work near the Tower of London, and on a sunny day just an hour’s walk. Being close to the DLR, Jubilee line and Thames Clipper is also an advantage. The best thing about my new home is the knowledge that my monthly expenditure is going towards buying the equity in a property, rather than to a landlord. I am so impressed by the shared ownership scheme that I recommended it to two of my friends who are moving into their new flat in the next month!”

New developments such as New Festival Quarter, Family Mosaic’s flagship affordable scheme in E14, offer a safe place to live and transport links are second to none. Prices start from £85,750 for a 35% share of a one bedroom apartment based on a full value of £245,000. Two bedroom apartments start from £114,625 based for a 35% share based on a full value of £327,500.

New Festival Quarter is a collection of one and two bedroom apartments in Poplar. It’s located a short walk from Langdon Park and All Saints DLR stations from where it’s just seven minutes to Canary Wharf and nine minutes to Stratford, making it an ideal commuting base. This contemporary new development offers an impressive selection of on-site amenities not usually found in affordable housing, including a 24-hour concierge, private gym and residents’ roof garden.

Set across four buildings, New Festival Quarter is designed as a truly contemporary new community that echoes some of the ‘Festival of Britain’ architecture of the former Lansbury Estate where it is situated. All of the apartments feature generous external spaces in the form of terraces or balconies, some offer a dual aspect and some of the apartments feature en-suite bathrooms to the master bedroom.

Interiors are finished to a high standard, with sleek contemporary kitchens including fully integrated Zanussi appliances, stylish white bathroom suites and oak finish timber flooring. For peace of mind each home is fitted with a video entryphone system. Consideration for the environment is also taken into account, so energy efficient heating and lighting is installed, meaning lower utility bills for the homeowner.

New Festival Quarter is ideally located for shopping, nightlife and leisure time. Locally Chrisp Street Market offers an array of fresh produce, while further afield Westfield Stratford City, Europe’s largest urban shopping centre, is a shopper’s paradise. For something more relaxing, green open spaces of Bartlett Park are on the doorstep.