When sacrificing a big chunk of your monthly salary on renting a home in London Zone 1/Zone 2, you could justify the expense as an impractical yet necessary social investment, when lively bars, restaurants, big commons and the best coffee shops are within easy access to meet friends and family. Or when a Sainsbury’s Local was so local you could grab and pay for a pizza before anyone noticed you were wearing pyjama bottoms and fluffy slippers. The reality is that the average 20-something year old Londoner must prepare to lose this luxury of proximity when buying a first home. Shared ownership gives this element of control back while getting the all-important first foot on the ladder.
Introducing first-time buyer Rachel
Rachel is a 29 year old market researcher from London that put her roots down in a brand new Zone 2 neighbourhood in Camberwell. She achieved what many first time London buyers dare to dream, a home in a central, well-connected urban area without having to compromise on space and knowing she had made a prudent investment in a thriving regeneration area.
Home is anywhere you can walk to
Great thoughts come to people who go for a walk. And for Rachel, the answer was already right in front of her, “I was looking to buy and had a lot of friends in the Southwark area. I had previously lived in Peckham so knew the area and I was really familiar with Camberwell. I had actually walked past the development a few times and I put my name down after viewing the show home.”
Buying your first home eyes wide open
Buying your first home is no cake walk but it’s not something you have to do on your own. Rachel explained, “Notting Hill Sales have been really clear about explaining the whole process, including all the pros and cons, technicalities and what I needed to supply. They also recommended a mortgage advisor and solicitor who were very accommodating.”
Shared ownership developments
While the last home at Camberwell Fields has been sold, there are plenty of other opportunities to buy Shared Ownership where lively bars, restaurants and friendly neighbourhoods are waiting to be discovered.
Final phase at Oval Quarter – 1, 2 and 3 bed apartments near Brixton Road and Stockwell Road
Last remaining three bedroom homes at Abbey House
Wood Dene - Brand new development coming soon to Peckham