Peter's Story

Having rented his whole life, 38-year-old Peter was ready to own a place of his own but couldn’t afford to buy on the open market. He began to investigate alternative routes onto the property ladder, in the hopes it would help him buy in London. 

He comments: “I moved to the UK from Australia over 15 years ago, and have been renting ever since. Most recently, I was renting with a housemate in Notting Hill for six years – we were in a two-bedroom apartment and paying £1800 a month the whole time we’d been there. My housemate was moving out, and at the same time, my landlord wanted to increase the rent. It’d be a significant increase for me, and I just couldn’t afford to stay.” 

“I first looked at buying on the open market, but I just didn’t have a big enough deposit, and rising house prices and mortgage rates meant it was totally out of budget. I started considering Shared Ownership as I’d heard this would be a more affordable way of buying somewhere. I went to look at some new developments around the corner, but I wasn’t that impressed – they were 1 bedroom and really tiny.” 

Peter has recently purchased a 35% share of a two-bedroom apartment at The Uncommon, a new development from Southern Housing. He explains what drew him to his new home: 

“I used to live in Clapham and really loved the area, so I looked at what was available there and came across The Uncommon by Southern Housing. It was perfect. It was much bigger than the other two-bedroom places – about 70sqm – and it’s very close to The Common, which is a real selling point. At my first viewing, I said to the sales team: ‘Sign me up! Take my deposit right now!’” 

Speaking about the Shared Ownership process and his experience with Southern Housing, Peter comments: “The whole process was pretty smooth - it took two months from my first appointment to completion. The Southern team were great throughout. Alex was really helpful and was available to answer all of my questions (and I had lots!) – he really guided me through it all.” 

Now happily settled, Peter explains what he likes about his new home: “I’m very happy to be here now. I took my time moving in – I spent some time painting, decorating, moving my belongings over slowly, and ordering new furniture. I feel very settled now. I love being close to a park, close to Clapham High Street which is full of restaurants, bars and shops. I’ve also met my neighbours, which has been great.” 

Peter is now enjoying the perks of being a homeowner, and comments: “I think the biggest thing about owning a home for me is the freedom to decorate, and really feel like it’s your own place. I’ve lived in rental accommodation all my life, and it's so nice now to just have my own furniture and all my own stuff. I even have my very own mattress now!” 

“I definitely want to staircase as quickly as possible. I’ve already started my overpayments, and I plan to get up to 100% as soon as I can. I’ll definitely be here long-term.” 

He concludes: “I’m so looking forward to not carting things from flat to flat and jumping around rental properties. No more moving for me for a while!” 

If you're renting privately in London, there's never been a better time to explore how Shared Ownership could help you onto the property ladder. Register your interest, book a viewing, or contact our sales team today.