21/06/2022
We prioritise Tower Hamlets residents for our new shared ownership homes allowing local people, such as Joe Wong, to get on the ladder for less in east London.
Joe has lived in Bow for nearly 20 years.
“Before living in my new shared ownership home, I was renting, living in a bed sit with three other people. Finding a dog friendly place to rent was a challenge when I decided to move. But the rent was cheap, so I stayed living in the bedsit for longer than planned, so I could save up towards a deposit. I was looking for a new place to buy for around a year.
The London market is impossible for normal people. I was really struggling to find something.
"I’ve found shared ownership is a great way to expand the range of affordability and find good quality housing."
Buying my new shared ownership home was really straight forward and everyone was very helpful. For that I was really grateful for one less thing to worry about, as house buying is very stressful.
I love the amount of light in the property. It has the floor to ceiling windows; also the bathroom has a window; a lot of flats don’t and it’s such a joy. I find windowless bathrooms often feel dank.
"I love that my new home is in an area that’s dog friendly. My dogs are so important to me - they do wonders for my health and mental wellbeing."
I love that my new home is close to central London, Canary Wharf, and there’s Victoria Park and the Olympic park as well. Some of the best things about owning my own home are being able to have people over, decorate the way I want, peace and quiet, and not queuing for the bathroom!
The prospect of paying rent as well as a mortgage can be daunting and it’s important to balance financial sense with your wellbeing. I decided that paying rent was better than paying an annual rail card with a long commute.
Specific lease clauses might not be pointed out on viewing the property, so I’d advise anyone buying a shared ownership property to do your homework and ask about things that might be important to you.”
