25-year-old turned homeowner thanks to Shared Ownership in Wimbledon

“I couldn’t be happier to have found The Switch, and to have got on to the property ladder by myself in south west London London - it’s a real achievement.”


Shared Ownership made homeownership a reality in a couple of months for Anastasia

With two months left on her rental contract in Battersea, Anastasia had a short time frame to find a new home, but hoped this might be the opportunity she could get onto the property ladder. Anastasia was able to purchase a 25% share of a one-bedroom apartment at The Switch, Peabody New Homes' collection of 181 one to three bedroom Shared Ownership apartments in south west London.


“I couldn’t believe I could buy a home in Wimbledon with just a £10,500 deposit. Shared Ownership seemed like the perfect option for me - buying a portion of my home, and paying rent on the rest. After looking around the show home and seeing the high-quality specifications, I registered my interest straight away.”



Anastasia found her dream home in south west London within her budget

The Switch is located equidistance between Earlsfield and Wimbledon, an area Anastasia was already familiar with, but is enjoying exploring further.


“I absolutely love this area. I’m around the corner from some of my closest friends, as well as being near to Earlsfield High Street. My favourite part about the flat is the view into AFC Wimbledon Stadium. As a football fan, being close to the stadium was a real bonus for me. But equally, when it isn’t match day, you’d have no idea you were so close to a sports venue. It’s really calm and tranquil – not what you’d expect from living in London – yet also only 45 minutes from my office.  I’m really looking forward to exploring the area more, and I’m particularly keen to visit food spots like Tooting Market.”


Anastasia boosted her deposit with the Lifetime ISA bonus

Saving enough money for a deposit is one of the main struggles first-time buyers face. Shared Ownership is a great way to avoid this issue since buyers only need a deposit for the share of the home they are purchasing, as opposed to its total value. Anastasia wouldn't have had enough savings to buy outright. On top of that, she was able to use her lifetime ISA bonus to boost her budget since her one-bedroom apartment was priced under £450,000.


Any UK resident between the ages of 18 and 39 can open a Lifetime ISA to save money to buy a home or to use after you turn 60. The bonus Anastasia was able to use is 25% added by the government to the total amount paid into your Lifetime ISA. If you then withdraw that money to buy a home under £450,000, you won't need to pay any charges.



Peabody New Homes helped Anastasia find and move into her dream home seamlessly

Anastasia found our sales team to be helpful throughout, ensuring her buying process was as seamless, and speedy, as possible. Shared Ownership is a great way to step onto the property ladder but it is often misunderstood. Anastasia had done her research but it was important for her to find knowledgeable and supportive professionals to support her in the homeownership journey to make it as smooth as possible.


“The fact I managed to find, purchase and move into my home in such a short space of time is a testament to the Peabody New Homes team! They were really supportive and answered any questions I had along the way. I’m really proud to call this home my own. In an ideal world, I hope to staircase to 100% and then own my home outright.’