Shared Ownership Helps Buyer Find Independence

Ann had never lived on her own before, and being close to her daughters was incredibly important to her.

Ann says: “I’d recently gone through a divorce, and I didn’t know what I was going to do about my living situation. I knew I had to find a property, but I never thought I’d be able to afford to live independently. The thought of moving somewhere on my own was all a bit daunting. At the start of my search, a Facebook ad for Leaside Lock by Guinness Homes popped up. I knew a little bit about Shared Ownership already, I’d actually heard some less favourable things said about it in the past, so I wanted to see it for myself. I contacted Guinness straight away and came to have a look around. They showed me two different flats, and straight away one of them was my favourite. I then came back to view it again with my daughters, and once they’d given me their seal of approval, I put a deposit down. At my age, I knew I didn’t want to get a mortgage and tie myself up for 10 years. With the money I had from my previous home, I was able to purchase a 25% share outright, so that all I’m paying monthly is my rent.”

Ann purchased a 25% share of a one-bedroom apartment at Leaside Lock, for £84,000 (full market value £324,000).

When it came to finding her perfect home, Ann says Leaside Lock’s Zone 2 location was the main attraction for her. She says: “The big thing for me was location, my biggest priority was staying in east London to be close to family. My daughter has just moved to Barking and my mum is in Elm Park, so I can hop on the District Line to see them both! I actually have my first grandchild due this Autumn, so it was really important to be close by.”

“Leaside Lock is also very central so I can walk to lots of places easily. I walk to Westfield Shopping Centre in Stratford, and I’ve walked to Canning Town. There are also so many buses that stop right at the end of the road that get you all over London – I already know I can get the 108 to IKEA! I thought, this will do me until I retire!”

Speaking about her home, Ann says she loves how light and new the property is: “I knew I wanted natural light coming in, and that’s what I’ve got. The living room is so open and bright. I get sun in the morning, and I’m sat here now looking at the evening sunset. I’ve also got big plans for decorating – I’m going to put a feature wall in! It’s going to be this huge palm leaf wallpaper, to give the room a pop of colour.”

One of her favourite features is Leaside Lock’s rooftop terrace, which residents in some blocks can access. Ann comments: “I took my friends up to the roof terrace for a celebratory bottle of prosecco recently and everyone was very impressed. The views are amazing, so it was a lovely evening. My friend even said, ‘you have to give me a key so I can let myself in!’"

Now all settled in, Ann is very happy with her new home. She concludes: “All I can say is that I’ve had a really good experience. The Guinness team has been brilliant, answering all my questions and helping me along the way. I’m considering staircasing, depending on what happens in the next few years. I might purchase another 25%... but it’s my 60th birthday next year so that’s what I’m saving for at the moment!”

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