Affordable homes provide boost for Milton Keynes commuters

Buyers of newly refurbished apartments in Milton Keynes could save thousands of pounds a year in commuting.

The £8.6m development by Dominion Housing Group – Vue2 – is just a few minutes walk away from Bletchley railway station, giving commuters easy access to London.

According to a report commissioned by the Mortgage Advice Bureau, commuting from the city saves nearly £7,000 a year and the extra spent on rail travel would be more than outweighed by lower mortgage costs compared with living in London and using a travelcard.

With 60% already sold, the one and two-bedroom homes at Vue2 have been made even more affordable through a part buy, part rent shared ownership scheme.

A minimum salary of just £24,000 is needed to buy a 50% share (worth £72,000) of a two-bedroom home, or £27,000 for joint buyers.

Keith Algar, a 63 year-old retired fire fighter who has just bought a Vue2 apartment, said: “The location is fantastic; everything is within walking distance.

"I sit as a layman on employment tribunals two or three times a week, which means I regularly travel by train.  Living here means I can easily do my regular commute – you can’t ask for better than that.”

Located in the heart of Bletchley town centre, the Vue2 apartments have been finished to a high standard with ensuite bathrooms, contemporary style kitchens and large spaces of up to 75 sq. metres.

Keith added: “I am really pleased with my new home.  It is a wonderful apartment with beautiful views and is exactly what I was looking for. Instead of frittering away my money on rent I have made a good investment with my cash.

"At my age I didn’t want to take on another big mortgage so shared ownership was the only real option that I was considering.”

Milton Keynes – which is 85km (53 miles) and around 40 minutes from London by train – came top of the Mortgage Advice Bureau’s list of the best commuter areas with a monthly saving of £550.69.