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First step to Home Ownership

First step to Home Ownership

Alice has settled into her shared ownership home at Gateway’s latest development,Triangle 14 on the Isle of Dogs. Originally from the United States, Alice came to the country nine years ago and settled on the Isle of Dogs in Tower Hamlets.

The sudden death of her landlord forced her to move out of the home she was renting at the time. For Alice, the option of renting a similar property in the same area was out of the question. 

‘When I went to look at similar properties, the rents had skyrocketed so I ended up renting a room in someone else’s flat and decided to save for shared ownership. Even though I was a working professional, the best flat I could find that I could afford on my own was too small to hold my belongings and in a very bad state.’

Making herself at home on the island since she left the states Alice wasn’t keen on the idea of moving on. Luckily for her Triangle 14 was available right on her doorstep.

‘I didn’t want to move away from the community I had been living in for the past nine years, the availability of a shared ownership property in my area allowed me to purchase here and stay where I wanted to be.

Without shared ownership, I wouldn’t have been able to purchase a property in the neighbourhood, the prices for even the smallest property are extremely high and would require a deposit well over anything I could save for.’

Alice says about her new home:

‘I am delighted with the standard of my new flat. I was worried given stories in the press about the low quality of some new build but my new place is brilliant! Designer kitchen, fully tiled bathroom and wooden floors plus there is actually real space. The floor plan is well designed and full of light with big windows and outdoor space.’

The Triangle Apartments are a fine selection of 1, 2 and 3 bedroom apartments on the Isle of Dogs. Close to great shopping and superb transport links, Triangle 14 offers stylish, well designed living space and a host of high quality features while only a mile away from Canary Wharf.

The process of purchasing the property was different to a normal purchase of a home. Alice was first assessed by the local authority for eligibility as a shared ownership purchase, Gateway’s sales team then guided her through the rest of the process.

‘Gateway’s representative was always available, incredibly patient and quick to answer my questions, which were many. I always felt well informed. He made all the difference in ensuring I felt confident that everything would work out in the end.’

Alice concludes:

‘For first time buyers in London where prices are very high and especially for single buyers, shared ownership may be the only way of purchasing a property. Shared ownership has allowed me to stay in the community I call home and be near where I work… Brilliant job all around!

 

 

If you want to take your first step onto the property ladder contact our sales team on 020 8709 4300 or via email sales@gatewayliving.org.uk.