Published 14 Feb 2019

Bank Manager Endorses Shared Ownership as Best Route to Property Ownership

Bank Manager and fiancée secure dream home in Walthamstow with the help of Peabody and Shared Ownership.

When it comes to sorting mortgages and buying property, a bank manager is usually one of the first people we turn to. But who do they turn to?

For Adam, a 28-year-old Bank Manager and former renter living in Walthamstow, the prospects were looking bleak. Despite searching for two years, he and his fiancée Hannah had been unable to find a home in the area that they’d fallen in love with, which also suited their lifestyle. However, by employing his knowledge of the industry, Adam was able to explore alternative options and settled on Shared Ownership as the solution to his and Hannah’s predicament – purchasing a two-bedroom apartment in Peabody’s chic Unity Works development.

Adam and Hannah - Shared Ownership buyers

First time buyers - Adam and Hannah

“We were so happy when we found Unity Works – it was the culmination of all our dreams coming true. We wanted to own our own home, but we wanted it to be a home we’d love. Our first impressions of the development were amazing - the spec was great and when we first viewed the show flat, we felt at home straight away. It wasn’t like the other cramped apartments we had viewed before – it made us want to put our names down then and there.” - Adam

About Unity Works - Shared Ownership in Walthamstow

Located in the Blackhorse Lane area of Walthamstow, the stylish and contemporary development is approximately 10 minutes' walk from Blackhorse Road Station, providing quick access to the Victoria line and Overground services. The wider area has increasingly become a trendy hotspot for first-time buyers, due to its accessible location and affordable value.

Adam notes: “We previously lived around the corner for two-and-a-half years paying just a little bit less in rent than the fees we’re paying now. Plus, we’re more central, so it was a no brainer. Walthamstow is a great up-and-coming area; there’s so much around, and it really is its own part of London. Overall, it was a fantastic investment.”

Unity Works show home

Unity Works Show Home

The soon-to-be-married couple put down a £40,000 deposit for a 50 per cent share of their home, with plans to staircase to full ownership by next summer. It was important to them that they buy a new build, as they wanted a “blank canvas” that they could decorate themselves. Shared Ownership offered them that opportunity, and it’s one that Adam says he would recommend to other first-time buyers who are struggling:

“It was by far the easiest and most convenient way to get on the property ladder, especially this close to central London. As I work in banking, I have people come into the branch asking me about these schemes all the time, and now that I’ve experienced it, I honestly cannot recommend it enough – especially for first-time buyers who may not have large amounts of savings for a big deposit.”

Buying with Peabody

Working with Peabody also made the experience that much easier: “Their representatives were amazing – the communication was frequent and transparent throughout. We initially had some mortgage issues that were a bit stressful, but Peabody was understanding and helpful as we sorted them out.”

Unity Works was launched by Peabody in 2017, offering 30 Shared Ownership apartments to budding first-time buyers; all have now sold. For further information on other Peabody developments please use our property search or contact our sales team on 020 7021 4842.

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