Daniel Teixeira, 33, and wife Djuly-ane, 31, have lived in four countries in the past eight years, moving between a series of studios, rented rooms, shared houses and apartments. Speaking on behalf of the couple, Daniel explains how they have finally been able to put down roots, thanks to SNG’s (Sovereign Network Group’s) shared ownership development Arc in Wembley.
The couple purchased a 28% share of two bed apartment, with a balcony providing views over London at a value of £115,000, with a deposit of around £8,000. Daniel explains, “Our apartment at Arc is filled with natural light. We have lots of windows that fill the home with light from sunrise to sunset – that was why we chose this particular apartment. It also has a very comfortable, open feel. It felt familiar and homely as soon as we saw it.” The couple now pay around £650 per month for their mortgage, approximately £700 for rent on the remaining share of the home and a service charge of nearly £290 per month. They are free to purchase additional shares in the apartment, up to full ownership, on whatever timescale they choose, through SNGs staircasing process.
Prior to moving into their new home Daniel and Djuly-ane were renting in a shared house in East Acton. They were paying £1,100 for their room and felt keenly that they wanted their own place. Daniel comments, “Renting is just burning money, so we knew we looked for opportunities to get on to the property ladder. We saved up for about three years to get our deposit and calculated what we could afford to save each month.”
Daniel and Djuly-ane spent a couple of months trying to find the perfect home. They were drawn to the Wembley area in particular, with its great transport links and extensive recent redevelopment.
“Wembley feels very new and safe. It’s an amazing place to spend time and it’s great having Wembley Stadium so close to home and I’ve been to a few events there so far. Commuting is also easy for Daniel, who works as a Production Manager. His bicycle ride from the development to his work takes just 10 minutes. Residents also benefit from a free two-year car club membership, offering further options to get out and about.
“It was a very smooth, easy process. It took just three to four months from our first contact with SNG to having the keys to our home. We were very organised and read about the shared ownership process first and made sure we had everything we needed in terms of paperwork. Then it was simply a matter of completing the different stages of the process. It’s certainly worth doing for anyone who would not otherwise be able to afford to buy a home in London.”