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Real Life Case Study : SPRINT FINISH FOR FIRST TIME BUYER AT NEW PEABODY SCHEME


New homeowner and keen runner Naomi Davies decided to look into Shared Ownership for an affordable way onto the property ladder. It took just a week for her to secure a new home at Peabody's Prospect Quarter.

Naomi, a 37-year-old Occupational Therapist at King's College Hospital, says she never expected her journey from renting to home ownership to be so easy. She says her luck is due to planning her finances well before committing to buy: "I'd wanted to buy for a long time but I never really thought it was possible. However, after speaking to a mortgage adviser and finding out my options, I was quite confident I wasn't going to break the bank.

"I decided that Shared Ownership was an affordable option and it was only when I spoke to Peabody that I believe I could do it."

"I visited the First-time Buyer show and spoke to all the housing associations there. At the end of the day I had almost given up hope of finding anything for me. However, I spoke to the Peabody team and they showed me a range of affordable options in Lewisham. The fact that the security and possibility of being somewhere long-term was all within my budget was very appealing. I immediately booked a viewing at Prospect Quarter and after that, it took just one week for me to secure my new home." "Prospect Quarter is on my running route so I remembered seeing it being built while I was training for the London Marathon. The quality of the flats is fantastic and there is a real feeling of space. It definitely lived up to what was in the brochure."

Naomi, who was previously renting in the area with a flatmate, commented: "Shared Ownership is a much more obtainable option for me financially. I was shelling out £600 every month when I was renting, now I pay £770 for my own property and paying off the mortgage. I've always wanted my own home and the scheme gave me a chance to make the most out of my budget. I am also planning to staircase up to a 50% share in the next few years."