Guinness Homes: Escaping high London rents with Shared Ownership
One, two and three bedroom apartments in South West London
With rental prices in London becoming more and more unaffordable, Alison dreamt of owning a property in the capital. A single income and strong desire to remain local meant limited options when it came to purchasing a home of her own, until she found Signal Park and Shared Ownership. Shared Ownership allows buyers to purchase a share of a property, typically between 25% and 75% of the property’s total value. Buyers will pay a mortgage on their share of the home, rent on the remaining shares and a monthly service charge to the housing association.
“The Guinness team have been absolutely sterling.”
“Shared Ownership has been my route out of renting,” said Alison, aged 51, a deputy head teacher at a school in Surrey. “I tried to get on the property ladder the traditional way, but when you’re single and competing against couples with double the income, it feels impossible.”
Through Shared Ownership, Alison was able to put down a 12% deposit of her 25% share, which was much lower compared to buying outright using a traditional mortgage.
Already renting close to the development, Alison watched its construction and frequently chatted to the onsite staff. Once the marketing suite was installed and Alison was able to see the vision for herself, she quickly made an appointment to find out more.
On viewing the property, Alison was stunned by the high quality throughout. The spacious two bedroom apartment she chose to view featured floor to ceiling windows that maximised the natural light, a modern open plan layout and huge fitted wardrobes. A passionate cook, Alison also loved the high specification kitchen appliances, including an integrated dishwasher. “The quality and workmanship is fantastic, it’s better than anything else I viewed.”
Access to outside space was also a “must” for Alison. As a former PE teacher and international rugby player, getting outside for fresh air is important in her free time. Signal Park provides this access in spades, with her own private balcony as well as a beautiful communal podium garden that is perfect for relaxing on a sunny day.
Working in Surrey, excellent transport links were also important. With extended bus routes and a stop right outside of the development, she can easily reach Kingston and Surbiton – perfect for her commute. Tolworth station is located less than a two-minute walk away, arriving in Waterloo in just 31 minutes, meaning the development is also ideally located for daytrips into London.
Alison was eager to move in and get settled. “The Guinness team has been absolutely sterling. I made the decision at Christmas time and I was moved in by February – I couldn’t have asked for an easier process.”
Living in an apartment building, Alison loves the sense of community shared within the development. “As people move in, the sense of community is growing – there’s a real buzz about the place.”
Guinness Homes recognises the significance of offering a diverse selection of housing options that cater to all potential buyers. The apartments at Signal Park have been innovatively designed to meet a range of requirements, with 24 high-quality disability-adaptable apartments, ensuring that all buyers can purchase their dream home.
The development will include an on-site creche to support first time buyers who may plan to grow their family in the future. The nursery will also be open to the public, creating a deep bond with the local community.
With a range of one, two and three bedroom apartments ready to move into, Phase One of the Signal Park development is now complete.
If you’re searching for your dream home, give the team a call today on 0203 824 9500 or view the available properties here.
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home-buying schemes such as Shared Ownership via our article index.