Shared Ownership helps First Time Buyer Jamie onto the property ladder
After years of renting in London, last year 30 year old Graphic Designer Jamie decided to take his first step onto the property ladder. Having lived in Dalston, East London for several years, he was keen to stay in the area.
With Hackney now one of London’s most popular boroughs to live in, the area has seen property prices increase by 17% in the last year alone, leaving buyers like Jamie feeling priced out of the local market.
“I love Dalston, as it is such a vibrant, creative part of London. But when I started looking for flats in the area, there was little choice within my price range. I felt a little out of the loop at times, with the market moving so quickly, whenever a property did become available, it was quickly snapped up.”
After seeing Family Mosaic’s Shared Ownership development, Roseberry Place, advertised in the local area, Jamie started to investigate the part buy, part rent scheme further. The development offered everything he was looking for; central location with an impressive specification.
“The sales team at Family Mosaic were incredibly helpful. I had heard about Shared Ownership in the past, but didn’t think I would be eligible having only rented in the area for a few years.”
Own a share of your property with Shared Ownership
With the help of the government backed initiative, last year Jamie realised his dream and bought 30% of a one bedroom apartment at Roseberry Place. Situated just minutes from Dalston Junction, the development offered buyers like Jamie a plethora of trendy cafés, shops, bars and restaurants. The newly completed overground station also means quick and convenient access to the City.
“I think it is essential that all first time buyers struggling to get onto the property ladder consider Shared Ownership. Friends often ask if it’s inconvenient only owning a share of the property, but the truth is I have gained a huge amount from choosing to part buy, part rent.
Through Shared Ownership, I have been able to buy a centrally located one bedroom flat, with all the mod cons I need. Before speaking to Family Mosaic I thought it would be impossible to buy in zone two, but now I am celebrating my first year as a homeowner!”