Oval enthusiast buys first home with Shared Ownership in South London

Ben thought homeownership was a goal he would only be able to reach after saving for a big deposit for many years. Shared Ownership made it possible for him to buy his Oval home at 35 with a small deposit.


Shared Ownership made homeownership accessible quicker for Ben

“I wasn’t actually planning to buy my first home quite so soon, but when I saw an Instagram ad for Zone at Oval Village, I immediately fell in love”

IT Support Manager Benjamin Paul (35) had a goal to take his first steps onto the property ladder by the time he turned 40. But when Ben first discovered Peabody New Homes’ Zone at Oval Village development, everything changed and he knew that he had found the place for him much sooner than expected.


An affordable home with plenty of amenities and green spaces

“I’d attended university in Elephant & Castle and had previously lived in Oval and had always said that when I buy my first place it would be in either Pimlico or Oval. Whilst scrolling through social media, I spotted an advert for Zone and was instantly drawn to it. Everything just aligned and I immediately booked a viewing. When I eventually stepped foot into the home, I knew this was where I wanted to live and reserved straight away.”

“Having a 24-hour concierge on hand is incredible and is definitely one of the things that I wanted when looking for a place to live. I have also used the rooftop terrace, which is a landscaped communal area that captures skyline views of the city. There is also an on-site gym that is due to open in the next few months, and I can’t wait to use that!”


Shared Ownership: as little as 5% deposit required

“I had been saving for 4 or 5 years but didn’t think I had enough yet for a deposit on a London property. Before seeing Zone, I hadn’t heard of Shared Ownership, so I did some research and realised that this was a brilliant way for me to get onto the property ladder. I put down a 5% deposit, which was just under £8,000 - a lot lower than I had assumed would be possible in this location - and my mortgage payments are £981 per month.”

Designed to help buyers take their first steps onto the property ladder, Shared Ownership is a part-rent, part-buy scheme. Buyers can purchase a share of the value of a property typically between 25 and 75% through a mortgage, whilst paying a subsidised rent on the share they don’t buy. Further shares can be purchased at a later date, through a process known as staircasing.


Zone in Oval: a 15-minute journey to London Bridge

“I work near London Bridge and, whilst my journey when living in Twickenham, was taking me 40-minutes, 30-minutes on a good day, now I can just hop on the Northern line and it’s so much faster! I have friends that live in the city, so it has been great to be able to just walk or hop on a bus to go and see them – I’m definitely able to spend a lot more time with them. There are also lots of amazing bars in Vauxhall that I like going to, and it is so convenient that I no longer need to hop in a taxi at the end of the night. Although I do enjoy cooking, I also like to dine out or order in and being so close to all the restaurants in Vauxhall is perfect for that too. When I first saw the ad for Zone, I was immediately captivated by the homes on offer, but what I’ve gained since moving in is so much more than just a home.”


A luxurious yet functional Shared Ownership home

Designed for contemporary living, homes at Zone combine exceptional craftsmanship with a high specification. Kitchens blend silestone work surfaces with marble effect feature splashbacks for a sleek finish, whilst a range of integrated appliances ensure that homes are ready to move into. Bathrooms are complete with white sanitaryware, chrome fixtures and marble effect porcelain tile finishes.

“When you walk into the apartment, you enter an open-plan kitchen/living room, which is perfect. I enjoy cooking, and the kitchen comes complete with everything you could need already built-in, including an induction cooker – a big tick for me. I didn’t want a studio, so having a separate bedroom was great for me and I also have a balcony which is a cool feature. One of the main selling points for me was the amount of storage – there is a lot more than I would have expected in a one-bedroom property.”


The Shared Ownership journey made easier by Peabody New Homes

“I had heard of Peabody before, but I didn’t know much about it. When I looked on the website, I realised there is actually a lot that it does. Peabody New Homes work with some really great developers, like Berkeley at Zone at Oval Village, to create impressive homes. I would definitely recommend the Peabody New Homes sales team as they were incredible throughout the process. I got plenty of advice from Lydia, and she kept me in the loop about everything that was happening, ensuring a smooth process. Thanks to Peabody New Homes and the Shared Ownership properties at Zone, I’ve been able to move to my dream part of London at a much more affordable price than I could have ever expected. I would thoroughly recommend Peabody New Homes to anyone looking to buy their first home in the city!”