Mehreen found her affordable home in prime London location
Mehreen has gone from living at home in Mitcham with her mum and brother her whole life, to living just 10 minutes away at The Switch in Wimbledon. She purchased a 35% share of a one-bedroom apartment with a private terrace in this buzzing neighbourhood. Wimbledon town centre offers small boutiques, high street shops as well as entertainment venues such as an ODEON cinema.
"Obviously the location is incredible – I’m so close to Wimbledon and Tooting, and the transport options into London are great. If I had to choose a favourite part, alongside the living room and my bedroom, I’d have to say my terrace. No matter how long I’ve been here, I don’t think I’ll ever get over the view from my apartment – I can see the Shard from here, which makes me feel so lucky."
Mehreen was set on buying a Shared Ownership home
"I’d started Googling again, trying to find somewhere local to my family that I could afford, when I spotted that Peabody New Homes was delivering Shared Ownership in Wimbledon. My eyes instantly lit up"
Like many first-time buyers, Mehreen saw lockdown as the perfect time to start saving for a home. By saving for a year and focusing on her goal of moving out of her family home, Mehreen was ready to find her dream home just 12 months later. She started looking into Shared Ownership homes.
This government-backed way of buying allows prospective buyers to purchase a share of their home and pay rent on the remaining shares. This means a mortgage is only required for the amount of the share you are purchasing. Shared Ownership is a more affordable way for people to step onto the property ladder.
We make affordable and high-quality homes a reality
We work to design and create affordable homes that are modern and will offer a high quality of life to our residents. This is why all our new build homes are fitted with the best appliances and the latest technology.
"When we looked round the show home, I loved the curtains and mirrors and knew I’d want to incorporate some of the styling into my home. I also asked about the washing machine and dishwasher and was then told that all of this equipment would come included in my home, which was the icing on the cake.
Now that I’m in and styling I’ve had lots of my friends over who have said I should get a job in interior design – but I couldn’t have done it without having such a lovely space to work with."
Getting the right support and expertise to buy through Shared Ownership
The Shared Ownership journey follows 10 steps for you to become a homeowner. Exchanging is part of step 8 and refers to the legal paperwork being carried out. The next step is called completion which is the day that the money to buy your home is transferred to our solicitors. This marks the moment you legally own your Shared Ownership home.
"The Peabody New Homes team was extremely helpful every step of the way. We didn’t face any issues, and to have the support from the sales team who oversaw my whole journey with the solicitors and mortgage team made me even more certain in my choice.
The speed of the whole process amazed me too. Having experienced such lengthy delays earlier in the year, I was so pleased to have my mortgage approved in a week, and I completed a week after exchanging."
Defining the criteria for your home search is key to a smooth experience
"I couldn’t believe my luck once I met with the sales team. We went to the show home to really get a feel for the homes, and I was then shown the floor plan of the apartment that was available. This was the last remaining home in this phase that had views across London and had a balcony and terrace, and I just knew it was the one for me."
I decided to put the reservation down on the day along with my deposit, and it was the best decision I’ve ever made. I’m a very spontaneous person, and I don’t believe in wasting time.
I was so confident that this was going to be my home, so reserving on the day just felt right. I’d been searching for so long, and to come across The Switch, which had Shared Ownership, the perfect location and such incredible homes – I just couldn’t say no."
