SHARED OWNERSHIP
CASE STUDY
With a fast-paced job in a tech start-up in the city, connectivity is crucial for Sandrine Lagrange, both in the workplace and at home. After 12 years of renting in Leytonstone, Sandrine was very familiar with east London and enjoyed a fast commute into work in an area buzzing with character. Keen to lay more permanent roots in east London, she started to investigate how she could get on to the property ladder. Sandrine comments, “I did a lot of research into how I could buy in east London, anxious about the high property prices which force many first time buyers to leave their favourite neighbourhoods. When I came across shared ownership it seemed like the perfect solution for me. Suddenly homeownership was within reach. I had spent a year looking for a property, visiting numerous shared ownership sites to find an affordable, high quality home in a location I liked. When I discovered Weavers Quarter it felt like I had struck gold. It offered everything I had been looking for. I leapt at the opportunity to reserve!” Sandrine bought a 50% share in a two bedroom apartment on the fifth floor at Weavers Quarter, complete with a private balcony and large open-plan living space. “I couldn’t believe I could afford such a large share at Weavers Quarter, and that a second bedroom was within budget. I absolutely love my home. It’s so bright and spacious, with lots of storage space that is really convenient. Plus it is great to have some private outdoor space alongside access to the communal gardens. The balcony is great for unwinding after work in the summer.” Weavers Quarter is an award-winning development in central Barking, built in partnership with the London Borough of Barking & Dagenham. A stone’s throw from the high street, residents at Weavers Quarter are in a fantastic position to enjoy the best of the east London town centre. Sandrine mentions, “Barking ticked all the boxes for me. First and foremost, the affordability of homes in the borough is unlike anywhere else in London – it’s brilliant for first time buyers looking for a well-connected hub. Plus there are so many transport options. I’m only a 10-minute walk from Barking station where I can jump on the District Line straight to work.” Sandrine is keen to share her experience of purchasing through shared ownership and encourages others to explore the scheme further. “I would really recommend shared ownership to first time buyers who don’t have a large pot of money in the bank. It’s a fantastic route to owning a brand new home, and the staircasing process means that one day you can have full ownership. My goal was always to be on the ladder before I reached 40, and through shared ownership that was possible.”
FROM £137,500*
TOWER HAMLETS Pimento
Pimento offers a range of one and two bedroom apartments in an excellent central London location with great amenities and transport links. All apartments are thoughtfully designed, providing spacious living areas with oak laminate flooring, floor-to-ceiling windows and sliding glass doors opening on to balconies. The location is ideal for commuting, with three underground stations just a short walk away, as well as Tower Gateway DLR station and Fenchurch Street station giving access to London and beyond. The apartments are also ideally placed for leisure, being in close proximity to Whitechapel Art Gallery, The Globe Theatre, Spitalfields Market and The Tower of London. The development has many shops and restaurants nearby and a communal garden for residents to enjoy. newlonliving.co.uk/properties/goodmans-fields-e1 *Based on a 25% share with a full market value of £550,000
FROM £106,250*
PECKHAM
Peckham Place Peckham Place offers one, two and three bedroom homes in the up-and-coming area of Peckham in south east London. With plenty of outside space, including a landscaped roof garden, courtyards and playgrounds, the high specification homes include kitchens with fully integrated appliances. Peckham is quickly gaining a reputation as one of London’s favourite "villages", with attractions including the bustling high street with shops, cafes and roof-top bars and Peckham Rye Park and Common. Being in Zone 2, Peckham Place has excellent transport links, with Overground and national rail services at Queen’s Road Peckham and Peckham Rye stations, a short distance away. nhgsales.com/sales-developments/peckham-place
lqgroup.org.uk *Based on a 25% share with a full market value of £425,000
32 First Time Buyer October/November 2019
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