Sabrina recently purchased a one-bedroom sixth-floor apartment in the desirable Shoreditch area.
"I was looking at Government schemes to buy as it was the only way I'd be able to. When you do the maths on the rent you are paying yearly, it is more than a down payment on a place in London - it makes sense to get onto the property ladder sooner than later."
Sabrina was living in Islington for five years before she made the decision to purchase her shared ownership home in a converted Victorian home in Highbury Fields. When comparing costs, Sabrina stated she is currently paying about £200 less than renting conventionally. She told us: "I felt I was spending too much on rent and could be spending it on a mortgage as well as get on the property ladder".
"The best thing about the shared ownership scheme is that I am on the property ladder in central London, something I didn't think was going to be possible."
Sabrina was already familiar with the scheme prior to her purchase, as she has friends who have purchased under the scheme previously.
"Everyone loves my new place and how central it is - right in the thick of it. I love the view of the city and graffiti, the open kitchen and the balcony as well as the triple-paned glass."
"This was the only property I saw and I reserved a flat within a week of seeing it."
Even with all the stresses Sabrina was faced with at the time of her purchase, such as Covid-19 move-in issues, together with delays as a result of new cladding report agreements, Sabrina said:
"It did take eight months from beginning to end. It was quite a journey! A couple of really exciting moments were during the process. One being when I was informed I got the flat I really wanted - my first choice. And secondly when I finally moved in and Lauren (the sales consultant) had put a bow and had gotten me bubbly for my move in which was so sweet and thoughtful.
"This was the only property I saw and I reserved a flat within a week of seeing it. The reservation process was very straightforward. I filled in the paperwork and paid the deposit (to secure the flat)."
Sabrina plans on being in her new home for the next 3-5 years, and will consider staircasing only if she is able to staircase to full ownership.
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