Magda and Alex - Deptford
L&Q Shared Ownership case study: Tidemill Way, Deptford
Shared ownership home buyer, Magda from Deptford talks about the process of buying a home through L&Q.
Magda and Alex had been renting various apartments in the New Cross area since they got married three years ago.
"We started to collect bits of our own furniture, rather than the stuff that rental companies provide you with in furnished flats. The problem was, it was getting a bit cramped and we needed more space! We were also really fed up with waiting for management companies to not turn up and not repair things; the last straw was when it took two months to repair a washing machine, which we had offered to get repaired ourselves.
We registered with First Steps and had a look at a property in Kidbrooke Village with another housing association but were unsuccessful. We then saw an advert for Tidemill Way and thought that the location was ideal, much better than the properties we had previously looked at. We came to see Joanna who works in the Sales Team at L&Q and she couldn't have been more helpful and encouraging.
We went to see the show flat and we were so impressed by the space and light that we put a deposit down immediately on a apartment of the same layout. We didn't hold out much hope of being successful as it was such a popular development and in such a great location. When Joanna called us to let us know the apartment was ours we were over the moon!
We decided to use the recommended solicitors and mortgage advisors from a list that Joanna had given us; I am glad we did this as it turned out there were some legal issues with access to the development and this caused some substantial delays. However, L&Q were helpful at every stage of the process and were in constant contact with our solicitors and mortgage advisor to push the sale through.
When we finally moved into the apartment we couldn't believe how big it was! When you come in the door, you have a toilet and a corridor that leads to the kitchen/dining area and balcony. There is a set of stairs which takes you to the mezzanine level which we use as our day room. If you go out towards the front door again, there is another set of stairs leading down to the bedrooms and a large family bathroom. In fact, it is so vast that quite often, I phone Alex to track him down! I was so taken by all the decoration in the show flat that I did my own paintings and made my own lampshades to make it look like the show flat! I never thought having an apartment like this would inspire me so much!
It costs us roughly £1300 a month to live here; this includes our mortgage payments, rent and service charge. This is manageable for us; we had our own financial interview where the advisor worked out what we could afford based on our incomes without overstretching ourselves. We were previously paying over £1000 a month for a one bedroom flat. We looked at a one bedroom flat above a pub in Deptford High Street which was more of a studio than a flat and cost £1100 a month to pay someone else's mortgage!
We both work in central London and the station is literally outside the front door. I can be in London in ten minutes on the over ground line. We have the leisure centre and library right next door and there is a really good market in Deptford where I buy all my fruit and vegetables. There are also several really good schools nearby which are great for young families. At the weekend we really enjoy going to Greenwich, which is just down the road. We often go to the park and spend the evening in a bar or restaurant in the centre of Greenwich.
For the first time in a long time, we can both relax and enjoy where we live, rather than waiting in all day for the various repair men that never turn up!"