News

Sara Guarrasi, 37, and her partner James, 39, had long dreamed of buying their own home. Living in a rented flat in Forest Gate, East London, they loved the area and wanted to stay, but could not afford to buy a high-quality new home outright. Luckily, they found a solution in shared ownership which allowed them to purchase a share in an outstanding two-bedroom apartment at Earlham Square, in their Forest Gate neighbourhood, from Gateway Housing.

 

In an exceptional location close to the station and with a high specification, Sara and James’s new home provides everything they need. Just four months after reserving their apartment, the couple and their four-year-old son have happily settled in.

 

Sara comments: “We’d been saving for a home since we were in our twenties and didn’t want to compromise on location or quality. Buying a share of a home is a great idea - it meant we could afford the home we wanted and still have the option of owning it in full one day.”

 

The couple had noticed Earlham Square while walking in the area. Curious to find out more they contacted Gateway to arrange a viewing and, impressed by the quality of the homes, were quick to reserve a two-bedroom apartment.

 

Although buyers can purchase a share of a home at Earlham Square for as little as 25 per cent of the full value and pay just a five per cent deposit, Sara and James chose to buy a higher 40 per cent share for £196,000 and put down a £64,000 deposit.

 

Sara explains: “Our plan is to buy more shares in our apartment until we own it completely. We felt that buying a larger share from the outset would be a great start towards achieving this.”

 

The couple took out a mortgage to cover the share they own and they pay rent to Gateway on the remaining share. Sara says: “Our monthly outgoings for the mortgage, rent and service charges are around £1,200, which is about the same as the rent we were paying in our last home.” 

 

Designed in an open-plan style, the apartment is modern and filled with light. The high specification includes wood-effect flooring in the living areas, carpets in the bedrooms and integrated Zanussi appliances in the kitchen, all included in the price. Landscaped courtyards around the building provide generous outside space to enjoy in warm weather.

 

Sara says: “I’m really happy with our home. The rooms are very spacious and much bigger than in our rented apartment. It’s beautifully finished and feels very luxurious and comfortable. We love the large balcony – there are views of the Olympic Park and at night the lights and skyline look stunning.”

 

Earlham Square is just two minutes’ walk from Forest Gate station, which makes commuting a breeze for Sara who works as a catering manager in Stratford. She says: “The transport links are amazing. I can leave home at 6.35am, catch a train a few minutes later and be at work by 6.45am, ready to start at 7am.”  James, who works for Newham Council, is currently home based, but will also benefit from an easy journey when he returns to the office.

 

Sara loves the strong community feel at Forest Gate, which she describes as a “‘brilliant place to live”. She adds: “The amenities are great with lots of shops and supermarkets nearby and we even have a GP surgery opposite. There’s plenty of green space, playgrounds and activities for children, and the local schools are excellent, which is important to us as our son starts school next year. We’ll never move from here!”

 

She concludes: “I’m so pleased we bought our apartment. Buying through shared ownership was very straightforward and the team at Gateway were incredibly supportive and responsive. Now that we have a home of our own, we feel we’re building for the future. We couldn’t be happier.”

 

Earlham Square offers a choice of one, two and three-bedroom apartments starting from £86,250 for a 25 per cent share of a one-bedroom apartment. To find out more and arrange a viewing, visit https://newhomes.gatewayhousing.org.uk/.