Ugonna, 32, bought her first family home via Shared Ownership with L&G – purchasing 25% of a three-bedroom apartment at East River Wharf in Royal Wharf, Newham, London.
After renting for seven years, working a full-time job from home, and raising two young children, Ugonna was ready to progress in her property journey.
What drew Ugonna to the area was the high quality and spaciousness of the property itself but she was quickly charmed by the welcoming community and the vibrant cultural scene at Royal Wharf.
‘‘The funny thing is that we started to discover how nice the area is once we had moved in.
‘‘We’ve met lots of other families, lots of other people. And everyone is just really friendly and respectful.’’
Ugonna’s discovered Shared Ownership through online adverts, and once she realised it was right for her and provided a cheaper alternative renting, pursued it as a way to move on from renting with a property of her own.
“Once we started looking into the criteria requires, I realised how much easier it is than I initially thought. So I set up a savings goal, and just stuck to it and budgeted accordingly.”
With two children – five and six years old – as well as a dog, Ugonna’s main priorities were space and accessibility, and the homes at East River Wharf ticked both of those boxes and more. The homes are designed for comfortable living, including open plan living areas that are full of natural light, streamlined kitchens, and generous bedrooms. Offering a private balcony and space that can be adapted to accommodate working from home, East River Wharf’s apartments are perfect for remote workers like Ugonna.
Then there were the amenities that came with the apartment which encouraged Ugonna’s choice to move – and she loved that everything she needed was nearby.
‘‘‘We’ve started going to the gym more, we get outside and we’re more active because there’s easier access to outdoor spaces.’’
Residents at East River Wharf can access a sleek indoor swimming pool with a hydrotherapy spa, a state-of-the-art gym and a sky lounge perched on the 16th floor – a stylish social haven with breathtaking panoramic views of the city skyline.
Plus, just a short walk from the DLR with connections to the city, Royal Warf is truly an oasis in the middle of East London. With both West Silvertown and Pontoon Dock stations providing a quick route to the middle of the city, organising a family day out is made a lot easier.
‘‘Being a mum of two children and a dog, obviously we need enough space to live comfortably and I feel that this apartment really gives us that.’’
Intent on raising her children in a safe and fun environment, Ugonna was also drawn to Royal Wharf by the vast outdoor spaces in the area.
‘‘There’s a playground right outside our home, which works really well for me and my lifestyle with two young kids who just want to get outdoors and have a good time. And then right near the playground, there’s a pretty big field, and a beautiful park, ideal for picnics.
Saving up for the move was made even more doable as Ugonna made use of the deposit boost from L&G which was on offer at the time.
Ugonna credits the L&G team’s support for helping her with a smooth, timely and comfortable transition from renting to buying.
‘‘It was quite a fast-moving process, which I really appreciated.
‘‘The team kept me informed and were very patient, as I was a first-time buyer. They were really professional, friendly and polite.’’
Shared Ownership gives buyers the opportunity to purchase a portion of a property’s full market value while paying a reduced rent on the remaining share. This approach significantly lowers the upfront deposit required, making homeownership more accessible and helping more people take their first step onto the property ladder.
‘‘I’m really happy with what we’re paying – especially given we have access to all the different amenities on offer.’’
- Purchase price for a flat like Ugonna’s: £157,500 (25% share of a £630,000)
- Property: Three-bedroom
- Deposit: £7,875 (5% deposit of a 25% share)
- Estimated household income to purchase a similar property with Shared Ownership: £74,500
For more information and availability at L&G’s Shared Ownership schemes, including East River Wharf, please visit https://landgah.com/shared-ownership/properties/
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
