HOMEBUYING PROCESS
HOMES AVAILABLE ON THE MARKET
CASE STUDY
The number of rst time buyers who have already become parents has doubled in the last 15 years; a story that resonates with Saranraj , 34, and Bhavani , 27, who were married with a ve-year-old son when they bought their rst home through Shared Ownership. The couple used the scheme to purchase a 25% share of their new home, worth £127,000, at SO Resi Hayes. Located in the west London town, the development comprises studio, one, two and three bedroom Shared Ownership apartments close to the centre of Hayes. Each apartment is completed by a private terrace or balcony, with some units offering expansive canal views. “When we rst arrived in the UK from India in 2022, we were starting from scratch,” Saranraj says. “The rent for a one bedroom at was £1,300-£1,500, which felt doable at the time. Now, it’s £1,600-£1,800, which is a signi cant increase in just a couple of years. We were worried about rent hikes being at the whim of agents and landlords.” Saranraj knew he needed to get on the property ladder to escape the high cost of renting. “It was hard to save for a deposit because of the rent and living expenses in London,” he says. “We weren’t able to ask for family help. Instead, I threw myself into career development to increase my salary, changing jobs three times in three years.” Bhavani also increased her salary, and budgeted to meet their saving goals. “We made our expenses go further, sacri cing travel and holidays,” she says. Saranraj and Bhavani were eventually able to save a 10% deposit towards buying their rst home. “After spending more than £40,000 on rent since we moved to the UK, I was relieved to be investing money in my family’s future,” says Saranraj. The mortgage and rent on their new three bedroom apartment totals £1,800, a £500 saving compared to the two bedroom property they had been renting. Purchasing through Shared Ownership enabled the family to stay in Hayes, which was important for Bhavani’s career, and enabled them to keep things stable for their young son. “For me, the best thing about buying at SO Resi Hayes was being able to upsize while still saving money,” Bhavani says, “My only wish is that I had been able to do it sooner. It’s great to have found a home where our family can settle long-term.”
PLUMSTEAD Rockcliffe Square
HACKNEY WICK Wickside
Located in a vibrant south east London district and designed with modern living in mind, homes at Rockcliffe Square include Manhattan studios, one, two, and three bedroom apartments. All properties feature fully integrated appliances, private outdoor spaces and access to a resident- only landscaped communal podium courtyard. Perfect for commuters, residents can enjoy a short walk to three stations – Woolwich, Woolwich Arsenal and Plumstead – placing Canary Wharf seven minutes away and Liverpool Street just 14 minutes away.
Wickside is a new seven-acre neighbourhood currently under development in Hackney Wick by Southern Housing New Homes. The rst homes to launch are within Bridge House; 25 contemporary one, two and three bedroom Shared Ownership apartments overlooking the canal and a new public square, with a strong focus on modern living, sustainability and connection to the surrounding landscape. Deposits start from just £5,969.
shnewhomes.co.uk/properties/wickside 0330 162 0616
lqhomes.com/rockcliffesquare 020 8189 0426
*Based on a 25% share of the full market value of £477,500
*Based on a 25% share of the full market value of £342,500
CAMBRIDGE L&Q at Darwin Green
LAMBETH SO Resi at Oval Village
L&Q is offering two and three bedroom homes at this impressive new development which, once complete, will include open green spaces, a central park, two new schools, retail units, a community centre, library, health centre and sports facilities. Homes are complete with a fully inclusive speci cation, meaning premium appliances, ttings and xtures are all included as standard. All properties bene t from a private outdoor space, bike storage and allocated parking. To encourage car-free travel, a network of leafy footpaths and cycle routes will also be established throughout the development.
SO Resi is offering 46 stylish studio, one and two bedroom apartments, available with Shared Ownership, as part of the wider Oval Village regeneration, transforming brown eld land into a new residential neighbourhood. Situated adjacent to the historic Oval Cricket Ground, residents bene t from peaceful parks and gardens, as well as the cultural buzz of the South Bank just a short stroll away. With three stations within a 10-minute walk, the development, on the site of a former gasworks, is also exceedingly well connected.
lqhomes.com/darwingreen 0333 999 8387
soresi.co.uk/ nd-a-property/oval-village 020 8607 0550
*Based on a 10% share of the full market value of £470,000
*Based on a 25% share of the full market value of £380,000
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