Published 21 Nov 2019

Flexible Shared Ownership helps IT Technician Back on to Property Ladder

A former home owner, 37 year old Timothy Percival took a break from owning his own home and decided to rent in London for a while, in order to give himself a break from rising house prices while looking for his next home. Opting to sell his home, he rented a property for three years until he discovered Shared Ownership – which to him was the perfect flexible solution that suited his changing circumstances. Dispelling the myth that Shared Ownership is only for first-time buyers

IT consultant, Timothy, found the option of Shared Ownership appealing due to the flexibility it gave him with his savings. After  calculating his outgoings, Shared Ownership worked out cheaper and therefore more beneficial financially.

“After doing the sums and realising that Shared Ownership was a cheaper option, it made sense to investigate it looked like a great way to save money alongside my monthly outgoings which I always intended to do whilst renting but never got around to it. Having owned properties in the past I know the process well, so I wasn’t sceptical about the buying process and after speaking to Peabody I decided to take the plunge.”

A great location that ticks all the boxes

Determined to purchase a property in well connected London, within close proximity to social scenes and nearby green space, Timothy managed to get his hands on the last available one-bedroom apartment on the top floor at Peabody’s development, The City Angel. Putting down a deposit of £62,500 for a 30 per cent share, ambitious Timothy has plans to staircase to full ownership in the near future.

He explains: “I absolutely love where I am. To be situated in Zone 1 in Islington just minutes from any coffee shop and bar I desire is amazing. This is exactly where I wanted to be and I’m happy I can appreciate the fact it is a luxury to live where I do - the location really does tick all the boxes. I have everything I need on my doorstep and I can even cycle to work when I choose to.”

Nestled away in its own calm sanctuary whilst still being in the heart of Islington’s buzzy lifestyle, the development provides urban living. Just a ten-minute walk away from Islington’s Upper Street, the secrets of the backstreets of Islington can be discovered alongside the finest gastropubs and the historic Exmouth Market.

Great value homes with Peabody

But it wasn’t just the location that won Timothy over. He goes on to express how he gets better value for money at The City Angel, with the top floor location and the large terrace fitting the criteria he was looking for.

Timothy explains: “I was so impressed by the whole finish in my apartment, especially in comparison to other places I had viewed The City Angel has such a high specification and utilises space well – I’m very happy here thanks to Peabody making it so easy and stress free for me throughout the process.”

Find your dream home

Although apartments at popular City Angel are now all reserved, you can still make purchasing your dream home a reality by having a look at similar stunning homes we currently have across London available to buy through Shared Ownership and Private Sale.

Find a home
Timothy Percival - Shared Ownership purchaser at The City Angel

Timothy, Shared Ownership purchaser at The City Angel

Related articles...

Published 08 Sep 2020

Shared Ownership Week - The perfect time to get on the Property Ladder.

The home ownership scheme that doesn’t break the bank is once again... celebrated during the Shared Ownership Week – taking place from the 17th until 23rd September.

Published 09 Jul 2020

How Peabody helped this renter save money, during lockdown, with Shared Ownership?

For City administrator, Rita, buying her first home with Peabody... has significantly reduced her monthly outgoings. Rita took her first step on to the property ladder at the stylish, new, well-connected development, Colindale Gardens, NW9 using the Shared Ownership scheme...