“Shared Ownership meant I didn’t have to compromise”
August 2024
Adam Ebrahim (44), a Store Director for a Fashion Designer, decided it was time to restyle his living situation – having rented in London for over 20 years. From renting studio apartments in the city centre, to flat sharing with a friend in order to save on costs, Adam realised he wanted a space of his own.
Adam initially started his home search almost five years ago, after being made redundant and putting this payment towards saving for a deposit.
Adam was adamant that he was going to purchase an apartment in London, explaining “I knew it was time to think about purchasing my own place, having saved towards a deposit for a few years and gained an understanding of the market. I’d been living in a flat share for a few months, purely because the rental prices in London were ridiculously high, and I couldn’t find a one-bedroom home for less than £1,200. Whilst owning my own home also seemed total unachievable, I knew I had to do something.”
Initially turning to the open market, Adam was aware that compromise could be on the cards – whilst a well-connected location with plenty on the doorstep was a priority for Adam, he know this might not be the reality.
“Once I had an idea of my budget, I started looking at homes that fell within this range. I knew pretty much immediately that it wasn’t going to work for me – every home felt far too small, and they were situated so far out of central London that I couldn’t justify spending the money on something that wasn’t perfect.”
It was then that Adam discussed his options with a friend, who had recently purchased a new build apartment through Shared Ownership. Piecing things together, Adam realised this was his route to home ownership.
Adam now owns a 25% share of a two-bedroom, two-bathroom apartment at L&Q at Western Circus, a collection of one- and two- bedroom Shared Ownership homes in the heart of one of West London’s most up-and-coming districts, Acton. The development benefits from landscaped communal gardens, an onsite Lidl supermarket and easy access to the Elizabeth line, connecting residents to Heathrow Airport, London’s West End and Canary Wharf.
Adam recalls “As soon as my friend and I had discussed his Shared Ownership experience, I knew it was for me. I had the deposit required, so I started browsing through all of the online portals. I was directed to some online forms to get an understanding of my affordability, and I heard back from L&Q with some developments that might be of interest.”
“I met with one of the L&Q sales associates, Nicki, who pointed me in the direction of L&Q at Western Circus. We’d discussed what my wish list looked like, and Nicki was confident that this would tick a lot of the boxes. She was completely right – we looked round a few apartments, and as soon as the door to the third apartment opened, I knew it was the one.”
Detailing the process once he’d found his dream home, Adam says “I told Nicki that this was it, and she worked out the sums on the spot. She said I could afford it with the figures she had, and put me in touch with the mortgage specialists to come up with a plan. Everything fell into place almost instantly, and within 6 weeks I had the keys to my first home.”
Discussing why L&Q at Western Circus is a great place to call home, Adam explains “My list was fairly flexible in most areas, but there were a few key points that I didn’t really want to have to compromise on. I was after a new build, ideally in a good location with reliable transport links nearby. I was hoping to move somewhere that was already established, with plenty to do on the doorstep, and I’ve found just that at L&Q at Western Circus.”
When asked about his favourite parts of his new apartment, Adam says “Honestly, just the whole space. I’ve lived in rented accommodation for over 20 years, and so being able to decorate with my own personal taste is really special. I feel so relaxed here as I’m in total control of my life. I can have friends and family over whenever I want, and I’m paying the same as I would be to rent but I own my own share!”
Looking to the future, Adam touches upon his plans to staircase, saying “I’d absolutely love to own 100% in the future. I know that I’ll get three opportunities to staircase and I’m already saving towards my next step. More ownership is the end goal, and I’m really looking forward to doing so.”
