The cost of buying a home in the capital has risen 2.9% in the last year1. It’s no surprise many London home-buyers are worried that they will be priced out of the market or be forced to move further afield. One such buyer is Tripti Khettry, who believed getting onto the London property ladder was an impossible prospect until she bought her one bedroom flat at Peabody’s More West, through Shared Ownership.
After being served her notice at her rented property in Earls Court, Tripti, a chef in her 40’s was determined to fulfil her dream of buying her own home, but was unsure of how to join the property ladder. Tripti started researching her options and discovered she was eligible to buy through Shared Ownership.
Tripti explains, “I knew I wanted to stay in this area as it’s always been my community which is so important to me. I initially looked for a new place in Earls Court but the rental prices had increased so much that it was totally unrealistic for me to buy there. Even a studio was around £400,000, something that I just couldn’t afford.”
Tripti continues, “I bumped into my next-door neighbour who was also in a similar predicament, having been served his notice already. He told me that he’d now bought a new Shared Ownership home nearby at a development called More West. He highly recommended the development and suggested that it would also be a great option for me to look further into. With that, I looked online and immediately got in touch with Peabody to check availability. Unfortunately, I was told that all homes had been reserved.Inspired by my mentor Daisaku Ikeda's guidance to never give up, I persevered and sure enough a week later, a flat came back on the market. I believe that without his encouragement, I would have given up at the first hurdle.”
In June 2015, Tripti bought a 25% share of her one bedroom apartment, putting down a £15,000 deposit. After moving in to her new home in September 2015, Tripti is now keen to increase her share next year, with the eventual goal of staircasing to 100% over the next few years.
Tripti explains the benefits of purchasing a home through Shared Ownership, “Buying through this scheme was a life saver for me and the only way that I was able to buy my own home in the location I wanted. Shared Ownership definitely gives people more of a chance to own their own property. I was able to put down what was comfortable for me financially and my outgoings are now really reasonable - unlike renting where I was paying such a high rent and the home wasn’t even mine.”
Peabody’s More West is a stunning new build development located opposite Latimer Road Underground Station, Tripti comments, “Living in a new build home is a much more viable option than being in an older building. Looking into the future, I have the security of knowing that I could manage on my own, there is less upkeep and maintenance to consider. It was by far the best decision for me to go for a new build; it’s such a weight off my mind that I don’t have to get things like a refrigerator etc. I love waking up in my new home, the architecture is amazing and different to anything else I’ve seen. The apartment is so spacious with gorgeous wooden floors and brings in lots of light which was essential for me.”
More Westcomprises a collection of one, two and three bedroom apartments, ideal for young families, first-time buyers and couples looking to get onto the property ladder. Designed by award winning architects Haworth Tompkins, all homes enjoy private balconies, contemporary high-gloss kitchens and fully tiled bathrooms, making them beautiful urban living spaces.
Whether you are travelling on foot, by bike, car, or on public transport, it’s easy to make the most of the great things West London has to offer. From homemade British pub-grub at Defector’s Weld to Caribbean-style beach shack vibes at Rum Kitchen, some of the best food and drink in town is just a stone’s throw away. Plus, with Portobello Market, Electric Cinema, Serpentine Galleries and Hyde Park all close by, this development is certainly one for the culture vultures.
All Shared Ownership properties at More West are now all reserved. For additional Peabody Shared Ownership homes please get in touch by telephone on 020 7021 4842.