Five Minutes With Heron Financial Mortgage Brokers

For many, buying a new home can be one of life’s most exciting and rewarding milestones, but if it is your first or even second time making the move it can naturally feel a little daunting, particularly when it comes to managing your finances. 

This is why at Silkstream, our new parkland neighbourhood in Hendon, London, we partner with mortgage brokers such as Heron Financial to support our residents as they begin their home buying journey. With incentives available, including the Own New mortgage scheme, the team is well equipped to help buyers make the most of their budget. Heron Financial’s experienced advisers are on hand to guide you through the best mortgage rates and schemes available, supporting you throughout the whole process. 

To help you on your way, we sat down with Fiona Hopton, Business Development Manager at Heron Financial, to ask her about some frequently asked questions, how they can support new home buyers and why they believe that Silkstream offers not only a fabulous place to call home, but also a great investment opportunity for those looking to purchase in London. 

Fiona, let’s begin by sharing some of the most common financial questions you receive from buyers looking to purchase a new property.

The three most common questions we receive from buyers looking to purchase a new home typically revolve around affordability, deposit requirements, and borrowing capacity based on income. 

For those interested in new-build developments like Silkstream, there’s a strong focus on understanding how the Own New mortgage scheme can help, and particularly how it can lower monthly repayments and make homeownership more achievable with a smaller deposit. 

For example, using Own New with a Virgin Money mortgage, a Silkstream apartment priced at £430,000 with a 20% deposit of £86,000, means that your monthly payments would be just £1,066 based on a 1.58% rate over a 35-year term. This is based on a 2 year fixed rate and includes a 5% contribution from Berkeley Group, helping to improve affordability even further.

These are especially important considerations for younger, first-time buyers, who are eager to get onto the property ladder. As mortgage brokers, we highlight how incentives like the Own New scheme at Silkstream can make the dream of homeownership a reality.

And how can a buyer ensure that they are financially prepared for purchasing a new home? Do you have any top tips? 

To ensure you’re financially prepared when purchasing a home, you need to start with the basics. 

Buyers should begin by reviewing their credit score and work on reducing any unnecessary debt. We also advise buyers to save beyond just the deposit by budgeting for additional expenses, such as stamp duty and moving costs, which can sometimes get forgotten! 

It is a very smart move to speak with a mortgage broker from the outset. At Heron Financial, we offer valuable insights into assessing affordability, securing agreements in principle and identifying the most suitable financial scheme. 

A top tip would be to not underestimate the value of tailored financial advice early on as it saves time, stress, and can often unlock better mortgage deals. If you’re considering a new-build property, like Silkstream, the Own New scheme is particularly beneficial, helping to lower upfront costs and monthly repayments. 

Buying a home is often one of the biggest financial decisions someone will make in their lifetime. What key factors should buyers consider when looking at a new-build like Silkstream? 

One of the most important factors buyers should consider is the lifestyle they envision and what is right for them for the period of time they want to live there. 

At Silkstream, for example, tranquillity and connectivity go hand in hand, which is ideal for those who want to live somewhere that is surrounded by nature and exudes an element of calmness but is also well located so that they can be in and amongst all the action within 20 minutes.

It is also ideal for those with growing families as Hendon offers a really good choice of state and independent schools, offering more OFSTED rated ‘outstanding’ primary and secondary schools than any other London borough. 

Many buyers are concerned about affordability and mortgage options in today’s market and knowing how to sort your mortgage can be quite daunting. How do you help clients navigate that and can you tell us more about how schemes such as Own New can help? 

Yes, navigating the housing market can feel overwhelming, especially with constantly shifting interest rates, but that is exactly why we are here to help. 
Our role is to make the process as smooth and straightforward as possible, starting with an affordability review, followed by securing the most competitive mortgage tailored to the buyer’s needs. 

For those considering a home at Silkstream, the Own New scheme is a true game changer. It offers reduced mortgage rates, making new-build properties far more accessible, particularly for younger buyers starting new careers or stepping onto the property ladder for the first time. The scheme also provides the benefit of lower monthly repayments, which can ease cash flow and enhance eligibility for a broader range of mortgage options. 

And finally, what makes Silkstream a good investment opportunity? 

Silkstream stands out as an exceptional investment, combining a high-quality build and specification with a biodiverse parkland, excellent transport links, and a wealth of amenities on offer. Combined with the introduction of the new Thameslink station at Brent Cross West and the expansion of Brent Cross shopping centre, it is making Hendon, and Silkstream in particular, an attractive choice for both professionals and families alike, with the potential for strong capital and rental growth. 

Homes at Silkstream currently start from £430,000, with one, two and three bedroom apartments ready to move into this summer. 

Want to know how you can become part of the Silkstream neighbourhood? Speak to the St George team and whilst you’re there, why not arrange to speak to the Heron Financial team.