Becoming a homeowner in dream area through Shared Ownership

Limebrook Walk is perfectly positioned on the outskirts of Maldon, with the attractive Essex countryside and tranquil River Blackwater on the doorstep. Offering a stylish collection of apartments to choose from, residents enjoy access to landscaped gardens, outdoor children’s play areas, car parking, and secure bicycle storage.  

As a mortgage broker specialising in Shared Ownership schemes in high-rise flats in London, Amy was well-informed about the property market and had previously worked closely with Peabody New Homes.

With the nature of my job, I was very aware of the difficulty for first-time buyers to purchase a home and I also know the ins and outs of the scheme. I knew Shared Ownership was going to be invaluable in allowing me to purchase my first home so I signed up to Share to Buy and began my search.

Watch Amy's homeowner story below

woman sat at dining table and working on her laptop

Find out how Amy found her dream first home at Limebrook Walk

What is Shared Ownership?

The government-backed scheme allows you to buy an initial share of 25% to 75% of the value of a property. You’ll need to take out a mortgage to pay for your share of the home’s purchase price and you will then pay a subsidised rent on the share you don’t buy.

“I started my search looking at flats believing this was more in my price range but I re-looked at my finances and realised that with the help of the Shared Ownership scheme, a two-bedroom house was within my budget. I could not believe my luck when I found out that a Peabody New Homes development was coming to Maldon just around the corner from my family home. I was delighted when I was allocated a home as I knew the site had so much interest due to its prime location and spacious properties.”

woman posing outside her Limebrook Walk home

Shared Ownership helps first-time buyers onto the property ladder

Amy knew her dream was to own a home so she began saving as soon as she was a qualified broker by living off her basic salary and saving any commission made. Under the Shared Ownership scheme, Amy was able to purchase a 30% share of her 2-bedroom semi-detached home on a 2-year fixed rate. Her monthly outgoings are £924 and she hopes to staircase in the future to own a higher proportion of her home and lower her rent.

“The size of each room of my home is so impressive and all the furnishings are such high quality – it makes me feel that I am getting a lot for my money. The appliances in the kitchen are incredible, I have a fridge freezer, washing machine, and dishwasher which allows my day-to-day to flow seamlessly. I also love my large garden and patio and I cannot wait to have BBQs and summer parties with my friends and family in the warmer months.”

Homebuying in great locations

“Maldon has everything! One of my favourite parts of the area is the promenade where I can go on long walks and get fresh air. There are so many amenities such as essential shops, leisure facilities and wonderful eateries. I love the local Italian restaurant, Luigis and also the Oakhouse bar and cafe which is perfect for a glass of wine in front of the fire with friends.”

Although Amy had lots of knowledge of the property industry, it was vital to have a helpful and patient sales team on hand to offer advice and support. Amy comments: “Peabody New Homes made the process a straightforward and easy one and I appreciated their efficient communication. They allowed me to enjoy this monumental journey rather than feeling stressed or out of my depth.”

woman sat at dining table and working on her laptop