Have Your Cake and Eat It:
Paulo’s experience of Shared Ownership at Barking Riverside
Work: Pastry Chef
Type: 25% of two-bedroom Shared Ownership apartment (FMV: £348,500)
Monthly mortgage: £400
Service charge: £319.85
Total Monthly Outgoings: £1317.12
Pastry chef Paulo was renting a room in Camberwell when he decided it was time to take his first steps onto the property ladder. Now, he has a two-bedroom apartment to call home after purchasing a 25% share of an L&Q apartment at Barking Riverside, with plenty of space to bake, host dinner parties and wind down after a busy shift.
Having rented in London for 15 years, Paulo had always thought getting on the property ladder in the capital would forever be out of reach. Paulo explains “It still feels like a dream. Now I have my own space, a space that I can decorate and entertain friends in.”
Having heard about Shared Ownership through a friend, Paulo was surprised to find that buying through the scheme is sometimes a cheaper option than renting. This made his decision to complete his Shared Ownership application online through the L&Q website a simple one, and from there he began his search. After discovering that he was eligible, Paulo began looking for properties in the early Spring of 2023.
He explains “I moved from Brazil to London with my ex-partner in 2007, and have lived in Zone 2 for a good few years now. It can be really hectic living close to the centre of the city, and working as a pastry chef in Westminster is also a very full-on job. I needed to find somewhere in London that has good transport links to commute to work easily, but is also a place where I can wind down after a busy day.”
L&Q’s Shared Ownership homes at Barking Riverside
Starting his search with L&Q, Paulo viewed one of L&Q’s Shared Ownership homes at Barking Riverside.
“I was really impressed when I saw the apartment”, Paulo explains, recalling the first viewing. “I just got that instant feeling and knew it was where I wanted to be – it is an amazing development too. Having two bedrooms was ideal because I like to have friends come and stay over, and the feel of the area in general was both exciting but also relaxed.”
Once Paulo had decided that Barking Riverside was the place for him, he immediately put down his deposit, and from there the sales process then took less than two months.
Reflecting on what convinced Paulo that Barking Riverside was where he wanted to put down his roots, he enthused “It was the kitchen that really sold it for me. There is so much space to cook and store things. I even have space for a coffee station! I can cool a cake whilst mixing up the icing, all the while keeping the counters clean and tidy. I had some friends over recently, and I cooked them a big meal. The clean up after was really easy, and the kitchen never felt claustrophobic. I can’t wait to host more evenings at mine.”
Paulo was also pleased to note the accessibility of his new neighbourhood. When his friend who uses a wheelchair came to stay with him, he had no problem navigating Barking Riverside. Wide and well-maintained paths meant that accessibility wasn’t a problem, and both Paulo and his friend enjoyed soaking up the scenic riverside views with ease. For Paulo, it was important to find an inclusive and welcoming London neighbourhood which he could call home.
A perk of his daily commute, Paulo was thrilled to discover a Brazilian food vendor outside Barking Riverside station. “That was a really great and unexpected surprise,” Paulo explained. “There are always things going on in the area, like coffee van pop ups, summer events down by the river front and more. It’s exciting to know I only need to go for a stroll around the development to grab a tasty snack or discover something new.”
For Paulo, becoming a Shared Owner meant that he could put his own stamp on his home. He reflects, “I bought some ornaments for inside my previous home three years ago, but never had any space to put them on display, so they just stayed in the box for all that time! One of the first things I did when I moved in here was take them out. I finally have space for them. That felt really good. I’m already thinking about where I’m going to put my Christmas tree.”
Paulo recalls his experience with L&Q, and comments “Being someone who can often feel quite anxious and shy, moving and buying a home could have been a really stressful experience, but the team I dealt with at L&Q couldn’t have made me feel more comfortable. They answered all my questions and never made me feel silly for asking.”
The move in period has been a busy time for Paulo, and he’s looking forward to settling in to his new neighbourhood. When asked how he’s finding the area, he notes “the area feels really exciting. It’s exciting to be a part of something new! I’m hoping that over time I can start to staircase and eventually own 100% of my home – I see myself here for a long time.”
This year, L&Q will launch a series of new Shared Ownership homes at Barking Riverside.
Register your interest on the website to keep up to date:https://lqhomes.com/barkingriverside/.