Londoners share how they really got on the property ladder

Despite making huge efforts to save a deposit, Chantelle Beams didn’t think she would ever have enough put aside to buy her own home.

She grew up in Canning Town in east London, moved away for university then, like many young adults, moved back. After getting married, Chantelle, 37, and her husband John, 26, rented a flat in nearby East Ham.

‘All the while we were making financial sacrifices, putting money away rather than treating ourselves to luxuries such as takeaways and holidays,’ says Chantelle, formerly a personal trainer and now an event organiser.

‘Over the years we managed to squirrel away more than £20,000 – a substantial amount of money – but in real terms, it was not enough for a 10% deposit on a home.’

It was only when she saw a feature about shared ownership that Chantelle realised buying a new home was within her grasp.

After making a few enquiries, she discovered that shared ownership flats were being built at SO Resi Canning Town, moments from her old stomping ground, and – more importantly – close to her mum. She kept an eye on their progress.

‘I was interested initially because part of my job is organising events for residents in buildings,’ she says.

However, when an online search pulled up all the details, including the low deposit requirement and the wide range of facilities, including a residents’ lounge, co-working areas and wellness studio, the couple were eager to find out more.

‘Shared ownership changed everything’

Having decided it was perfect for them, they used the £20,000 deposit to secure a 25 per cent share in a two-bedroom flat with a full market value of £472,500 and moved in last August.

Going forward, they hope to increase their stake, a process known as staircasing. ‘We just love it here,’ says Chantelle. ‘Being close to my mum was so important, and now she’s literally just down the road and my work is less than five minutes’ walk.’

Chantelle’s concerns echo those of many others in the same position.

Difficulty in raising a deposit continues to be the biggest barrier to home ownership, and the Building Societies Association has found that this prevents 64% of would-be first-time buyers from putting their plans into action.

On top of this, half are worried about affording monthly mortgage repayments, and 45% believe they won’t be able to access a large enough mortgage.

Whatever home-buying challenge you face, shared ownership – which allows you to purchase a proportion of a property with a small deposit and rent the rest – or a hefty discount on the market price may well enable you to overcome it.

A single one-bedroom apartment is left at SO Resi Canning Town, where Chantelle and John bought their flat. It costs from £101,875 for a 25 per cent share of £407,500, with a minimum deposit of £5,094. soresi.co.uk

‘I didn’t want to move away from London’

After six years working in her local hospital, Chloe Jackson, 37, was ready to purchase her first home. Her priorities were staying close to her friends, family and job in Herne Bay, Kent. But she thought she wouldn’t be able to afford anything in the area.

‘I knew I didn’t want to move away. 
I went to school nearby and I have friends all around me, so this community really feels like home,’ she says. ‘I didn’t want to rent, but I never imagined buying would be affordable.’

Thanks to shared ownership she was able to afford a stylish one-bedroom ground-floor apartment with its own terrace and parking space at Places For People’s Greenwood Gardens development, a five-minute drive from the hospital. ‘I went to view the show home, and was pleasantly surprised by how lovely it was and how realistic the prices were,’ she says.

‘I wasn’t looking for an older property. I wanted a blank canvas – somewhere I could start fresh and truly make my own. The sales team were really helpful, guiding me through the process, reviewing my finances and helping me understand what I could afford with my mortgage.’

She moved in last July and was joined by her cockapoo, Chester, a few weeks later, once his pet licence had been approved. Both adore the location. ‘I love taking him on long walks, and there’s so much green open space nearby, from parks and fields to the basketball court just across the road – and the beach is only a five-minute walk away,’ adds Chloe.

Above all, having a place of her own has given her independence, convenience and space to live, work and grow within a community she already loves.

One and two-bedroom flats and three-bedroom houses are available for shared ownership at Greenwood Gardens. Prices start at £89,000 for a 40 per cent share of £222,500. The minimum deposit is £4,450. placesfor
people.co.uk

‘Qualifying for a mortgage seemed impossible’

Having relocated from Portugal in 2017, Vanessa Silva, a nurse, lived in hospital accommodation before moving into shared rental flats across north London.

Although she craved her own space, she didn’t think buying was realistic.

‘With London being so expensive and deposits so high, I honestly thought it would never happen or that I’d have to move out of the city to buy,’ says Vanessa, 35.

Not only did she believe she didn’t have enough for a deposit, she thought she wouldn’t be able to get a mortgage.

‘Online mortgage checkers suggested I would need significantly more money than I had saved, so I felt quite certain that home ownership was out of reach,’ she says.

‘It was only when I saw Pocket Living’s homes listed in Woodside Park N12 in North Finchley, which
I knew were sold at a discount, that
I decided to complete Pocket’s online affordability assessment, fully expecting not to qualify.

‘When I got the email saying I could book a viewing, I thought there must have been a mistake.’

She liked the one-bedroom flat she viewed so much she went on to buy it without seeing any others.

‘I wanted somewhere that was right for me – well designed, and built to last,’ she says. ‘I hadn’t even spoken to a mortgage broker when I saw it.

‘I was just curious but ended up filming it for my family and friends and one of them joked that I was already acting like it was my own.’ Speaking to an independent mortgage broker, she realised buying was achievable.

‘The amount I was told I could borrow was completely different from the figures I’d seen online from banks – around £50,000 more. If I’d relied on those calculators, I would never have tried to buy,’ she says.

Vanessa’s flat cost £299,000 and she was supported by a five per cent deposit incentive from the developer, savings and money she’d invested in a Lifetime Isa.

She’s lived there since July 2025, and describes the difference between renting and owning as life-changing.

Woodside Park flats are a 20 per cent discount compared with market prices. Buyers can’t own another property, must live or work in London and earn no more than £90,000 a year. From £295,000. pocketliving.com

‘Upsizing would price us out of saving’

Giovanni Sanvito, 33, had been renting a compact studio flat in Royal Oak, west London, but it quickly became too small for him and his partner, Ayumi.

Although keen to find somewhere bigger, they were worried they’d have to pay far more for extra space, leaving them unable to save for their future.

He was already familiar with the London Living Rent (LLR) scheme, which is aimed at Londoners who want to get on the property ladder.

Rents are based on a third of the average household income in the local area, so lower than for an open-market property, helping tenants save money that could be put towards a deposit on a shared ownership home.

When the opportunity arose to rent a two-bedroom LLR flat at L&Q at Brent Cross Town, the couple seized the chance to secure a home that was the right size and in a convenient location, at a rent they could afford.

The second bedroom has been transformed into an office, and with private outdoor space, and a full-sized fridge freezer and integrated appliances, their quality of life has improved enormously.

‘I now have a dedicated work space that is separate from our living area, which has made working from home far more enjoyable,’ says Giovanni.

‘At our old place, we had a tiny fridge and a shared washing machine. I wasn’t able to cook in bulk or meal-plan because we just didn’t have the fridge space to store food.

‘Now, I can meal prep, use the freezer and do a weekly food shop – saving us money as well as time. And we’re surrounded by great train links.

‘The discounted rent was an absolute game-changer. Our overall monthly costs are similar to what they were before, but to now be living in a two-bedroom apartment in a vibrant part of London, it’s far greater value for money.’

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