NHG Homes: Shared Ownership buyer at Royal Albert Wharf

One, two and three bedroom apartments in East London

“I would still be renting or living with my parents if it wasn’t for Shared Ownership. It gives you a lifeline, especially in your 20s or 30s.”

• Farhana, 27, three bedroom apartment in Royal Albert Wharf, East London
• Purchase price: £132,500 (25% share of £530,000)
• Deposit: £13,250
• Monthly costs: £1,391 (mortgage – £606, monthly rent – £497, service charge – £288)

Farhana Mallick, 27, purchased a 25% share of a three bedroom apartment at NHG Homes’ Royal Albert Wharf development for £132,500 with Shared Ownership which offers first time buyers a more accessible route onto the property ladder.

Farhana, a history teacher, was raised in East London and has spent her early 20s living there. Now teaching at a school in Barking and Dagenham, she knew she wanted to put down more permanent roots in this part of the city.

She considered Tower Hamlets, or further east towards Ilford, but in the end she chose to make a home in one of London’s emerging communities and most up-and-coming areas – the Royal Docks. 

At just 25 years old, she bought her home at NHG Homes’ Royal Albert Wharf with Shared Ownership in 2021, which enabled her to get onto the property ladder in a more accessible way – with a deposit of £13,250 she was able to purchase a three bedroom apartment.  As a key worker during the pandemic, Shared Ownership was the gateway to home ownership for Farhana.

“I decided I was done losing my money on rent.  I wanted to invest in a property, and have a home I could make my own. Shared Ownership really appealed to me because it meant I required a much smaller deposit than if I was buying privately. I’ve stuck to my roots as I grew up in East London but the Royal Albert Wharf community has got a really modern and stylish twist to it.”

Step by step

Farhana was already familiar with the Royal Docks, but her journey to home ownership began with a walk around the area. 

As soon as she’d seen Royal Albert Wharf, and what it had to offer, she knew she had found the place she wanted to call home. She was then guided through the process of buying by NHG Homes’ expert sales team.

“As a first time buyer, NHG Homes really helped me to understand the buying process, and what the steps were.  I think many people aren’t aware of what Shared Ownership is or its benefits, but NHG Homes was so transparent and happy to answer all of my questions – the whole process was smooth and enjoyable, with wraparound care from the team.”

Part of a growing community

By putting down roots at Royal Albert Wharf, Farhana not only found a new home but a new, thriving community to be a part of. As a resident here, she doesn’t need to go far to enjoy the culture that London has to offer.

There’s an abundance of local amenities on her doorstep, including cafes, a nail salon and even a Michelin guide restaurant. Beyond the local, the development is well-connected to the rest of London by car, on foot and by public transport. Just eight minutes’ away, Farhana can walk to Gallions Reach DLR station, connecting with the Elizabeth line via Custom House, and she can reach the City within 30 minutes.

“I do travel into central London but often I feel like I don’t really need to, because I’ve got so many things on my doorstep. If I am going into town then I’ll take the DLR as it has so many connections. I shop locally a lot, including at Gallions Reach Shopping Park and also Beckton Triangle Retail Park, both of which are very close.”

The inclusive neighbourhood that is being created at Royal Albert Wharf is something Farhana loves about her home.

“We have created a great community here and that’s really rare to find, especially as a young person. We have our own residents group, which is great as you can get to know other people living here. When I have friends or family visit, there is so much to do on the doorstep – from brunch to yoga classes to a food market on Fridays, and events happening in the Royal Docks.

“There’s a children’s playground being built at the moment as well, and there’s a gym planned. So I feel like it’s constantly evolving.”

East London at its best

Although a home in East London was always her aim, the biggest draw to Royal Albert Wharf for Farhana was its unique character and how different it was to other developments in the local area.

The waterfront location, family-friendly green spaces and the design of her apartment were what appealed to her most. The Royal Docks provide extensive views to enjoy while on a run, walk or grabbing a bite to eat at a waterfront restaurant. Residents and visitors can also experience the Docks from the water, with rowing, canoeing, or even a swim in the sun all possible locally.

“I’m trying to get into my fitness these days, and living here has helped that because it makes me want to get outside. It’s so rare to see open water like this in the city.  It’s a lovely area to be in.”

Another highlight of Farhana’s home is the large windows, which have been designed to maximise natural light – she says this helps to create a sense of space, complemented by the roomy balcony – and the quality of the interiors of the apartment.

Looking ahead to the future  

Farhana likes the flexibility offered by Shared Ownership. As a key worker, she has the stability of homeownership alongside the opportunity to increase her share as she sees fit, or to resell her property and buy another home through Shared Ownership.

 “As a young person living in this city, this home gives me great flexibility to either staircase or sell my share based on the market – I could definitely see myself raising a family here.  With Shared Ownership making my home more affordable, I’ve now got a spare bedroom and a great community on my doorstep.

“If I was to move homes, I think my next purchase would also be with Shared Ownership – I can’t recommend it enough. In London, the house prices are now very high – if I hadn’t bought with Shared Ownership, I would still be renting or living with my parents. It gives you a lifeline, especially for someone in their 20s or 30s.”

Royal Albert Wharf is an emerging creative hub and destination in its own right, with plentiful amenities, open spaces, and quick and convenient connections into the City. 

One, two and three bedroom apartments are available to buy through private sale, starting from £373,995 for a one bedroom, £494,995 for a two bedroom and £634,995 for a three bedroom apartment, with further apartments available with Shared Ownership from autumn 2024.

For further information on Shared Ownership and homes available with NHG Homes, visit nhghomes.com or speak to the sales team on 0203 733 3571.

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.