Peabody: First time buyer steps onto the property ladder with Shared Ownership
Mary purchased a two bedroom apartment in Thamesmead
Teeming with stunning waterways, large green spaces and a vibrant town centre to explore, the area of Thamesmead is one of London’s most hidden gems.
Peabody’s 30-year vision is for Thamesmead to realise its potential to be London’s new town. There’s always something happening. The vibrant events calendar brings people together from all walks of life – the local community and those who live further afield.
The town offers an escape from the hustle and bustle of London, with space to play and breathe. There’s more than double the amount of green space per person than the London average.
Adding to the allure was a chance to own a home as part of the regeneration of the area that new homeowner Mary simply couldn’t resist. She comments: “I did look for about four to five months before I finally made my decision, I was scared but I took that leap of faith with Peabody, they were really caring and accommodating. What ticked the box for me was definitely the space, the location and the flats have a luxury feel and value for your money.”
Mary purchased a two bedroom apartment through Shared Ownership at the flagship development in West Thamesmead, The Reach. She talks about how this decision was a worthwhile move towards her accomplishing her goals.
“I bought through Shared Ownership at Peabody’s development The Reach. It’s a great first step – I am looking to staircase in the near future and hopefully buy up to about a 35% share. I definitely feel like I’ve got an investment for the future. I can see there are some changes coming to Thamesmead and have seen many changes already taking place. It’s an area that’s up and coming, and buying here was the best decision that I could have made!”
Although a commute into the City of London is not required by Mary at the moment, The Reach is practically placed for London living, with train journeys into central London taking approximately 30 minutes, and even closer for Canary Wharf or London City Airport. Additionally, residents are going to take advantage of the impending arrival of the Elizabeth Line, making Thamesmead a prime area to relocate for first time buyers.
Furthermore, Thamesmead has a significant amount of greenery for residents to explore, known for its collection of nature reserves, with Abbey Wood Park and Hawksmoor Park in close proximity. Mary is enjoying her new living surroundings and neighbourhood.
She comments: “It’s a very diverse community here and I’ve made friends with my neighbours that live at the end of my floor and we are now pretty close so when I moved in, it made me feel a lot more welcome.
For me, the best part about the area is the greenery, with The Reach being close to the river and having parks to explore.”
Reflecting on her home buying journey, Mary was surprised at how straightforward and easy the process was. She was delighted with the incentive offered during her sales process and found getting assistance towards legal fees very helpful financially.
“The incentive of getting my legal fees paid up to a certain amount was actually really helpful and made sure it was affordable. Peabody provided a good customer service and made sure that they’re thinking of their customers even after sales which was great.”
Watch Mary’s case study video below:
All homes at The Reach are now reserved. For buyers looking for a stylish new home in Thamesmead, Southmere is an exclusive development comprising of one, two and three bedroom apartments launching March 27th and 28th and will be available through London Help to Buy, outright sale and Shared Ownership. The first launch will include homes for outright sale followed by a new public square, civic building including library, a fitness studio, café and other commercial and community spaces to follow. You’ll never struggle for space in Southmere with more than double the amount of green space per person than the London average and homes overlooking the Southmere lake.
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 such as Shared Ownership and Help to Buy via our FAQs and guides.