When Tesco manager Walter Kadramer and his wife Ciena, a receptionist, started thinking about buying their first home in west London, they couldn’t imagine how they would be able to afford somewhere worth £330,000.
But that’s exactly what they’ve done.
Developer Fairview Homes offered a perk which added 50 per cent of whatever deposit they were able to put down through its “top-up incentive”.
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The couple, both in their thirties, put down £33,000 towards the flat, with Fairview adding £16,500 – taking their deposit to £49,500. That meant their loan to value – the amount they would own versus borrow – was 85 per cent, unlocking cheaper mortgage deals.
