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Shared Ownership in South East London provides buyer a second chance
Harvey was facing the reality that finding a property to call home could be out of reach until they discovered Shared Ownership –“Shared Ownership is an absolute godsend”.
Shared Ownership allowed him to buy more than just a shoebox
“I believe that what is meant for you won’t pass you by,” Harvey comments. Following a change to his relationship status, a period of health issues and the pandemic impacting his employment status, London resident Harvey (53), was facing the reality that finding a property to call home could be out of reach – or that he would only be able to afford a shoebox-size apartment, where he would feel isolated. Then he discovered Lazenby Square and it was love at first sight; Peabody New Homes and Shared Ownership allowed him to buy more than just a shoebox.
“At Lazenby Square, the development is generous, the specifications are fantastic and there is lot of open space, lovely green courtyards, and superb facilities. I had looked at many Shared Ownership apartments all over London and felt none were fit for socialising or feeling part of the community. Lazenby Square was different. It felt like I was coming home.”
London Home Show brought Harvey's attention to Shared Ownership
Born in India, educated there and in Zurich, and resident in the UK since 2002, Harvey has spent much of the past two decades working as a professional consultant in the city. His two daughters are now busy studying – one at Oxford reading medicine, his other daughter doing a foundation year at Central Saint Martins. Harvey is keen to embrace what he sees as his ‘second chance’ at life, following a few turbulent years.
He first discovered Lazenby Square thanks to the London Home Show in the spring, having already spent six months searching fruitlessly for a suitable and affordable home in the capital. Evenings and weekends were spent relentlessly viewing every new build development he could see, but nothing had the right feel to it. Harvey was drawn to the central location of Lazenby Square, which is next to London’s iconic Bermondsey Street, SE1.
Buying a Shared Ownership home there, through Peabody New Homes means that he is now a stone’s throw from world-class restaurants, museums, theatres, shops and green spaces. He loves that he can jump on a bike or e-scooter and be at the theatre in 15 minutes using the handy network of cycle routes from Bermondsey. Travelling to work also takes less than 15 minutes.
Harvey bought a 25% share in his home at Lazenby Square
Harvey bought a 25% share in his home at Lazenby Square in August 2022 through Shared Ownership, he recalls: “During the divorce, my credit took a hit. Plus, I was out of a job during the pandemic, so even though I was approved, getting the actual mortgage was so difficult. I must have called every lender out there, but there was a time lock before my credit could be approved for a mortgage. Without Peabody New Homes and my excellent mortgage broker, Heron Financial, I wouldn't be sitting here in my new home. I am so grateful to Ilona and the team at Peabody New Homes and Aidan and team at Heron for making this happen.”
Reflecting on his journey, Harvey comments “I had registered through the Share To Buy website and previously expressed interest in Lazenby Square, however, the development was fully reserved. During a bout of insomnia at 3am one morning while checking his emails Harvey had received a notification of new availability at Lazenby Square. He knew it was meant to be. Arranging a viewing for 11am the next day, Harvey had viewed the apartment and signed his reservation by 11:30am! “It was an incredible coincidence that I was able to secure the property I was initially interested in”.
Shared Ownership is a godsend for buyers with small deposits
The homes at Lazenby Square range from one to two bedrooms and all come with a private balcony, concierge service, gym access and pretty communal gardens. Having previously lived in Surrey Quays, Harvey felt like he was coming home when he moved into his new apartment. Now happily settled there, he is enjoying making the most of the extensive amenities in the local area, as well as writing poetry, painting modern abstract art and like many middle-aged men, zipping around on his rather fast road bike at every available opportunity.
He concludes: “Peabody New Homes and Shared Ownership is an absolute godsend for people with an insufficient deposit to buy in the open market. The terms are favourable and at Peabody New Homes, the team genuinely want to help you. For me, it was meant to be!”
Find your dream home
Peabody New Homes has a number of homes available to buy with Shared Ownership throughout London and the Homes Counties. Search to find your next home.