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Case Study Finance Property Shared Ownership



Having lived in Surbiton for 20 years, Paul and Georgeta always dreamed of owning their own property in the town that they call home. With London house prices skyrocketing, the couple were left with few options, until the Guinness Homes Signal Park development began construction.  

Feeling they were running out of time to achieve their lifelong dream, and with the traditional route to homeownership out of reach, the couple took the plunge and began the process of buying their first home together using an alternative method: 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 pay a monthly service charge to the housing association. 

“Shared ownership was to the only way we were able to buy a property – we just wanted to own our home before it was too late.” said Paul, a private chauffeur, aged 57. “Having lived half a mile away for almost 20 years, we never expected to be able to buy our own property in London, however when Signal Park opened, we knew it was an opportunity we couldn’t miss. We didn’t even look at any other developments.”  

Through shared ownership the couple were able to put down a 5% deposit of their 25% share. This was a considerably smaller deposit than buying through outright sale.  

The idea of ‘staircasing’ or increasing the percentage of shares owned over time also appealed to the couple as it meant they would not only increase their ownership stake in the property, but decrease the amount of monthly rent they need to pay. Staircasing gives buyers the flexibility to increase their shares in the property in line with their financial situation. There is no limit to the number of shares that can be purchased at one time, and there is no pressure to increase it at all, giving complete control to homeowners.  

Paul said, “Staircasing is a process that we’re interested in pursuing in the future. It’s a good opportunity for us to purchase our home on a timeline that’s convenient and manageable for us.” 

As well as being affordable, the property at Signal Park offered a high-quality home in an up and coming London location. With its sleek, open plan design and modern décor, their one-bedroom apartment features a spacious kitchen and living area.  

“The top to bottom windows let in a lot of natural light and the two balconies offer our own outside space,” said Georgeta, a 49-year-old office worker. “My favourite thing about our apartment is that it’s actually very quiet. Because we’re high above the hubbub of the city, it’s somewhere peaceful I can relax in after a busy day at work.”  

Both working in Central London, excellent transport links were a non-negotiable for the couple. With Tolworth station located less than a 2-minute walk away, and arriving in Waterloo in 31 minutes, the development is perfectly located for a stress-free commute into the city centre.  

Having lived in the local area for almost two decades, the couple are excited to see how the Tolworth development will progress. 

Comprised of a range of one, two and three bedroom apartments, Phase One of the Signal Park development is now ready to move into. If you’re searching for your dream home, give the team a call today at 0203 824 9500, or check out the available properties here.