Jamie’s first step onto the property ladder
For 26-year-old Business Events Sales Representative Jamie, renting with friends had been part of London life since moving to the capital five years ago.
But when his shared tenancy came to an end and his housemates decided to move in with their long-term partners, Jamie knew it was time for a change.
Originally from a small village near Oxford, Jamie didn’t want to move back home. Instead, he began seriously considering what it would take to find a place of his own in London.
Shared Ownership offered a new opportunity
While commuting home one evening, Jamie noticed an advertisement on the Underground promoting Shared Ownership . Intrigued by the idea of buying a home in London at a more accessible price, he decided to explore the scheme further.
“Ironically, it’s cheaper to buy than to rent in London – obviously I’m talking about Shared Ownership rather than buying outright, but still,” Jamie explains. “I’d viewed a couple of apartments that were basically shoeboxes, costing nearly £3,000 a month. It just felt like such a waste of money.”
Having previously lived in Oval with friends, Jamie knew the area well and wanted to stay local. His research led him to Peabody New Home’s development, Zone at Oval Village .
Making homeownership work through Shared Ownership
Shared Ownership allows you to buy a share of a home, starting from 25%. You can then buy more shares in your home over time through the process of Staircasing.
Jamie purchased a 25% share of a one-bedroom apartment at Zone for £136,000, with the full market value of the home at £565,000. The move has given him the independence and stability he had been looking for, without compromising on location or lifestyle.
“I didn’t go to university, so I started working when I was 18. That meant I was able to save while renting with friends,” he says. “I always knew I couldn’t afford to buy outright in London, but Shared Ownership gave me another option to finally get onto the property ladder.”
Living centrally at Oval Village
Shared Ownership can help people buy in a great location across London. Now settled into his new home, Jamie is enjoying the convenience of central London living.
“I work in Victoria, which is about a 25-minute walk from here, or a 10-minute journey on a Lime Bike,” he says. “What I love about Oval is how well connected it is – Soho in 15 minutes, Clapham in 10, and London Bridge in 15.”
The neighbourhood itself has plenty to offer, with local favourites including The Pilgrim, The Derby, and The Fentiman Arms providing regular spots to socialise close to home.
A smooth and supported buying experience from Peabody New Homes
For Jamie, the Shared Ownership buying process was refreshingly straightforward.
“This was the first and only property I viewed,” he explains. “I already knew I liked the area, and as soon as I saw the apartment, I didn’t feel the need to look anywhere else. It was just perfect.”
He also appreciated the support provided by Peabody New Homes throughout the move-in process.
“They showed me around the apartment and talked me through all the practical things I needed to sort out, like setting up Council Tax and utilities,” he says. “They even showed me how to use the oven and hob. It sounds simple, but it really felt like someone making sure I was properly settled in.”
Owning his first apartment at Zone, Oval Village has marked a major milestone – providing independence, security, and a place he can truly call his own in the heart of London.
