Daniel Teixeira (33) and wife Djuly-ane (31) had lived in four countries in the eight years before purchasing their current home at our Arc development in Wembley. We caught up with the couple to hear how they went from moving between a series of studios, rented rooms, shared houses and apartments to putting down roots in London thanks to Shared Ownership.
The couple purchased a 28% share of two-bed apartment, at a value of £115,000 in July 2023. They were able to buy with a deposit of around £8,000 – an impressive achievement in London where the average first-time buyer deposit was £144,500 according to Zoopla. “Having our own home means everything to us,” shares Daniel. “We have a place now where we can make plans and start a family. Now we have our home, we can pursue whatever we want.”
Apartment life
Daniel and Djuly-ane's apartment is on the fourth floor, with a balcony providing views over London. The location and view were two of the key reasons that the couple chose the apartment, along with its dual aspect setting. Daniel explains:
“Our apartment at Arc is filled with natural light. We have lots of windows that fill the home with light from sunrise to sunset – that was why we chose this particular apartment. It also has a very comfortable, open feel. It felt familiar and homely as soon as we saw it.”
Moving from renting to Shared Ownership
Prior to moving into their new home at Arc, Daniel and Djuly-ane were renting in a shared house with a small, shared garden in East Acton. They were paying £1,100 for their room and felt keenly that they wanted their own place. Daniel comments:
“Renting is just burning money, so we knew we looked for opportunities to get onto the property ladder. We saved up for about three years to get our deposit. We calculated what we could afford to save each month and then invested in stocks and the financial markets to grow our savings.”
When they moved in, the couple around £650 per month for their mortgage, approximately £700 for rent on the remaining share of the home and a service charge of nearly £290 per month. They are free to purchase additional shares in the apartment, up to full ownership, on whatever timescale they choose, through staircasing.
The property search
Daniel and Djuly-ane spent a couple of months trying to find the perfect home. They were drawn to the Wembley area in particular, with its great transport links and extensive redevelopment. That's when they first came across Arc, and from that point forward, everything fell into place.
“Wembley feels very new and safe. It’s an amazing place to spend time,” comments Daniel. “And it’s great having Wembley Stadium so close to home. I’ve been to a few events there so far, including a wrestling match and a concert. I plan to go to a football match there in future, too. I like the variety of events. Djuly-ane and I like the theatre and musicals too, which is another reason Wembley is the perfect location for us.”
The couple have explored Wembley thoroughly, enjoying the international street food at BOXPARK – the largest in London – on several occasions. Daniel likes the range of events and experiences on offer there, which range from mini golf to axe throwing.
A particular highlight for him has been the chance to battle zombies in virtual reality at meetspaceVR. And, although he’s “not a shopping guy,” Daniel likes the convenience of having the huge London Designer Outlet mall almost on his doorstep.
Commuting is also easy for Daniel, who works as a Production Manager. His bicycle ride from the development to his work takes just ten minutes.
Why Shared Ownership?
Having bought through Shared Ownership with SNG, Daniel says he wouldn’t hesitate to recommend the scheme to others. He explains:
“It was a very smooth, easy process. It took just three to four months from our first contact with SNG to having the keys to our home in our hands. We were very organised in our approach – we read about the Shared Ownership process first and made sure we had everything we needed in terms of paperwork. Then it was simply a matter of completing the different stages of the process. It’s certainly worth doing for anyone who would not otherwise be able to afford to buy a home in London.”
The couple are now enjoying the experience of living in their own home and styling it how they wish. Choosing a good sofa and a good bed for the apartment were their first priorities. Now, they are happy to sit back, relax and reflect on just how much discovering Arc and Shared Ownership has meant for them.
To discover our full range of Shared Ownership homes available in London, click here.
Information correct at time of publish - July 2024