‘WE SECURED A PLACE OF OUR OWN WITH A £7,000 DEPOSIT’

AS A rental property, an attic apartment in a converted Victorian mansion in West Hampstead couldn’t have been more perfect for Frances Michael, 26, and Joshua Murray, 30. However, they both realised that when it came to buying their own place, a new-build would be much more up their street.

‘We loved our flat and it had so much character, but there were always so many odd jobs that the landlord had to do,’ says

Josh, a graphic designer. ‘Being first-time buyers, we didn’t want to worry about leaks and old piping. We wanted an easy move into a home that was newly finished.’

With home ownership on their minds for a number of years and growing frustrated with the amount they were spending on rent each month, the couple moved in with Josh’s mum to try to save for a deposit. After discovering shared ownership, they knew the partbuy, part-rent scheme was right for them, and ended up buying a 35 per cent share of a one-bed apartment with a large terrace at L&Q’s Churchfield Quarter in Acton, a development they first viewed late last year. It sits on lively Acton High Street, and they were immediately drawn to the village feel of the surrounding area, as well as all the green space on site. ‘The terrace was definitely the key selling point for us – it is huge and looks onto the communal garden, which is on a podium and away from the main road, so the access we have to private outdoor space is fantastic,’ adds Josh. ‘As first time buyers in London, shared ownership is the only way we could’ve bought. We were saving such a small amount each month, so getting enough for a full deposit would’ve taken years and years,’ explains Frances, who works as a learning and development advisor. ‘The majority of apartments that were coming up were further out than we wanted to be. And after chatting to the sales team at another L&Q development we’d viewed, they helpfully suggested we looked at Churchfield Quarter (inset), as well. It’s very low rise here compared to a lot of parts of west London, which we liked, and under normal circumstances we can both get to work very easily: Josh can walk to Chiswick, while I just get the Overground from Acton Central. Shared ownership made perfect sense to us – we could make the most out of the cash we had, and our monthly payments now go partly towards our mortgage. It has been a great investment.’ They completed in April during lockdown but any concerns were quickly dispelled, as Josh explains. ‘Moving during lockdown was a little worrying at first, but L&Q were great and kept us really updated with what was happening, so as soon as we were given the green light we couldn’t wait. It meant that we had so much time at home to really settle in, and being able to sit outside during the fantastic weather was amazing – we didn’t have access to anything like this in our rental.’ One, two and three-bed shared ownership apartments are available at Churchfield Quarter, from £90,625 for a 25 per cent share of £362,500, requiring a minimum deposit of just £4,531.

■ lqhomes.com

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