Shared Ownership Success Stories: Laura
First time buyer purchased East London home with the help of Shared Ownership
Owning a home in central London seems like an unattainable dream for many first time buyers who feel priced out of the property market. However, this dream became a reality for Laura, 26, who found her ideal home in the capital with the help of Shared Ownership and Share to Buy.
After graduating from university, Laura moved to Canary Wharf with a friend. Saving for a deposit since she was 18 years old, Laura’s ultimate goal was to get a foot on the property ladder but her plans quickly seemed to hit a brick wall: “After six months my search had been less than fruitful and I’d almost given up hope of ever owning in central London. A friend then told me about Shared Ownership, and a quick online search into the scheme led me to the Share to Buy website.
“The Shared Ownership calculator on the website was brilliant; it gave me a really clear understanding of what my budget was, and what my monthly outgoings would be, including rent and service charge, which I didn’t find anywhere else. I worked out that, with the scheme, I could actually afford to buy a better home in a better location than I’d ever have been able to afford on the open market.”
Laura, an Assistant Merchandiser, looked at several properties before finding her ideal home, a one bedroom apartment at Peabody’s Waterside Park development, E16: “The moment I saw it I knew that it was meant to be! The buying process of Shared Ownership was really simple; I bought a 35% share of my property and eventually I plan on staircasing to own more of it, if I can. It takes me less than 40 minutes to get to work, and the DLR is a four minute walk to my front door – I couldn’t ask for anything more.”
On the property portal, Laura comments: “I’ve been telling everyone I know about Share to Buy. I have sent a link to the website to my colleague, and suggested it to my step-brother and his girlfriend too, as they were struggling to buy in London. I cannot recommend it enough, as without their help I still don’t think I would be a homeowner!”
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages, and find out all you need to know about alternative home buying schemes using our FAQs and guides. You can also hear from more buyers on our Shared Ownership Success Stories and Help to Buy Success Stories!