A permanent London home with Shared Ownership
September 2022
Having been living with family while saving for a deposit, Louis Ballaram found out about Shared Ownership, and started seeking a dream East London home of his own.
“I was born and bred in Waltham Forest, so I have strong connections to East London, and wanted to buy a home of my own in the area. I was probably looking for about a year. I viewed Shared Ownership properties at a lot of the other major new developments in East London. During my search, I came across Barking Riverside, which is one of the biggest housing developments in East London.”
Excited at the prospect of buying at a major new development, which will ultimately offer over 10,000 new homes and commercial and leisure facilities, Louis did his research into the area.
“The cycle lanes were an instant draw for me – I’m a keen cyclist and Barking Riverside is going to have an extensive network of bike lanes. It’s great to know that I can use my two wheels to get round the area, and along the river, and cycle into Central London or out to Essex.
I wasn’t put off by the idea of being one of the first residents here. In fact, it was very appealing. As I read up on the area, I found out about the new Barking Riverside London Overground Station opening later this year. Eventually there will be lots of shops and restaurants around here too.”
Having learnt more about the development itself, Louis registered his interest in a Shared Ownership apartment at Barking Riverside, with L&Q.
“I chose Shared Ownership because you can put down a smaller deposit than you would on the open market – which made it a great way for me to get onto the property ladder. L&Q were very helpful from the outset, I really felt they were with me each step of the way. They had about two-hour turnaround when answering questions, I was instantly impressed, even before I’d seen the apartment!
When I saw the apartment, the first thing that struck me was the huge open windows. I’m lucky enough to be on the top floor, so there’s loads of natural light. I really wanted a second bedroom which I could use as a home office, but also to store equipment for my hobbies, fitness, climbing and of course, cycling! The bedroom in my apartment is a really good size – giving me plenty of space!”
However, for Louis, it was that all important outdoor space that sealed the deal.
“The first thing I look at on a new build floorplan is always size of the balcony! This one here at Barking Riverside is 5.5m by 1.8m – much bigger than a standard balcony. It’s inset, so I can use it all year round, and it has amazing views of the city of London. At night you can see all the skyscrapers all lit up – it’s totally unique.”
So, what’s it like living at Barking Riverside? Louis concludes,
“Despite Barking Riverside being such a huge new development, where they’ll be building for the next 10 years, it’s surprisingly quiet, you can’t really hear the building works inside my apartment!
It is exciting to see new things opening up so regularly. For example, The Wilds is a new building at Barking Riverside that opened in the summer, which features a coffee shop and a co-working space. I am really looking forward to the opening of the pier later this year, which will have an Uber Boat by Thames Clippers service direct into Central London – now that will be a fun way to travel!”
