We’re in Isleworth, West London this week! (Picture: David Sandison)
Welcome back to What I Own – Metro’s property series where we speak to homeowners about getting on the ladder.
For last week’s What I Rent, we visited Kyle Halls at his one-bedroom flat in Battersea.
He moved to the area almost three years ago, and loves the convenience that his current lease offers him, from the state-of-the-art gym to the cinema room.
This week, we’re in Isleworth in West London having a nosy around Lauren May’s one-bedroom flat. Having previously lived at home with her mum in Ealing, she decided it was time to fly the nest in 2020.
When Lauren came to buying her property just before the pandemic, she was faced with a dilemma: she didn’t have the full deposit amount. And so, she was able to borrow the shortfall from a rather unexpected her donor, her boss.
She was able to secure her dream home, and now four years, she’s looking to sell up and move out to the suburbs.
Here’s what Lauren had to say about her property situation…
Are those DJ decks we spy? (Picture: David Sandison)
Tell us about yourself!
I’m Lauren, I’ve lived in West London my whole life and I work as a sales manager for Aussie Removals, London’s leading removal firm.
Whereabouts is your property? What do you think of the area?
My Property is in Isleworth, TW7. It’s a lovely peaceful area compared to Ealing Broadway which is where I grew up.
You can walk 30 minutes from my flat, along the river into Richmond, where I frequently visit and enjoy dinner on the river in summer, or frosty walks in Richmond Park in Winter.
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When did you move in?
I completed on January 31, 2020 and moved in in March 2020.
How much does your property cost?
£320,000 for a one-bedroom ground floor flat with some outdoor space and a designated parking bay.
How much was your deposit?
I paid a 5% deposit which was £16,000. This was the minimum deposit required under the Government’s Help to Buy scheme.
What is the monthly cost of living here now; both mortgage and bills?
My monthly cost has recently increased from £1,100 to £1,400 as my five-year mortgage term is up!
How did you save up for your deposit?
I had been saving up for a long time since my early twenties, but I ended up spending that on travelling and a car, so started again in my mid-twenties by putting away a set amount monthly.
I was lucky enough to borrow the shortfall of my deposit, which was £6,000, needed from my boss. It wasn’t through a workplace scheme, but a personal loan. Anthony has helped staff out before and it has been a great help …read more
Source:: Metro
