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Real Life Case Study : SHARED OWNERSHIP HELPS GENERATION RENT ONTO THE PROPERTY LADDER


After spending over £15,000 a year renting outside central London, David Cerqueira began to feel like he was squandering his money away. He decided it was time to get on the property ladder and use his money to invest in his future without compromise. "My girlfriend and I viewed the apartment at [Peabody's] The Cavallo and had to have it the minute we walked in. It is on the seventh floor with a beautiful view of the City."

Like many others, David was worried that the price he would have to pay on a new home would be far higher than the £1,400 he spent monthly on rent and that his income would not be able to support the move.

"It was hard to find a place with our financial situation, but Shared Ownership made it easy and worked for us. We put down a 5 per cent deposit of a 45 per cent share and are paying rent on the remaining amount, which works out at just £1,039 a month. Our outgoings are now less than when we were renting. I also had travel costs on top of rent but now I have the luxury of being able to walk to work which is saving both time and money."

"It just fitted perfectly with our plans. The development is really close to my workplace, but is also a short journey to Shoreditch so is in the perfect location from a social aspect too. There's a lot of independent shops, cafes and bars close to home that we spend quite a bit of time in and I even go running through the City on Sundays now."