Nurudeen had bought through shared ownership before, but with a growing family their one-bedroom flat needed a serious upgrade. Using Savills shared ownership, he was able to purchase a 30% share of a three-bedroom house for £120,000.
"We bought before, that was in 2015, a place which was shared ownership too, it was just down the road. So now we are getting bigger as a family, it was time for us to look for a three-bed. I was just passing through, and that’s when I saw the sign board for shared ownership.
"I had looked at the open market, but looking at our household income, for full ownership, it would be too much for us to pay. We are building on the ladder, going from one step to another.
"I was able to save as little as £7000 and become a homeowner."
"It was a little bit stressful because we haven’t done it before… because I didn’t want to lose this house we were trying to exchange contracts [on our previous home]. We had one month without a house and we needed to find somewhere to go. Lucky for us, we had a family friend… we lived with them for about three months.
"Now I am telling people that it is the best thing to do."
"Now I am telling people that it is the best thing to do."
Nurudeen and his family are well settled into the area and proud of their new home.
"This is a place you can call home. What else do you need? We have a little garden, our house is big, I have never seen a kitchen as big as ours.
"It’s a lovely area, quiet and beautiful. There is a good school around which my son will be starting in September. Formerly he was going to a primary school in Barking, but now he is going to be walking distance.
"Something is going towards our own mortgage, and we are saving every month. If you save maybe £5000, £10000, put that on top and then you can go up the ladder.
"Compared with what we are paying as rent and mortgage, to just rent in this area for this kind of building – you can’t compare them.
"I was able to save as little as £7000 and become a homeowner. If I used the same money to pay for rent, that would be about five months rent. Five months rent as a deposit to get onto the property ladder, it is worth it.
