Susan Packwood, aged 45, was one of the first to enquire about a shared ownership home at Alton Court, the initial phase of private-sale homes at Copley Hanwell W7. By purchasing a 25% share of a new two-bedroom apartment, Susan was able to become a homeowner for the first time – in a London location – and provide the privacy and security she and her daughter Angela, 13, had been lacking in expensive rental homes.
Susan says, “We’d previously been renting a two-bedroom apartment but had a few problems – there was a mice infestation and issues with mould, and we were paying over £1,000 a month to live there. We moved into a smaller place nearby, which cost less but meant my daughter and I had to share a bed. This situation was hardly ideal – my daughter didn’t like to bring her friends home and neither of us had privacy or space to enjoy being at home.”
Susan saw Alton Court advertised in Spring 2017. She put down £500 to reserve her new home but was going on holiday soon after and was concerned that she wouldn’t be available to complete all the necessary paperwork to secure the property in time. The sales team helped her to complete the purchase smoothly, and the family was able to move into the apartment in February 2018.
Their new home was valued at £395,000; Susan bought a 25% share worth £98,750 and put down a 15% deposit of £14,813. The monthly mortgage repayment is £425, while her rental payment on the share of the apartment that she doesn’t own is £905 per month.
To save the deposit, Susan worked six days a week and sold her car. She comments, “My career as a bus driver for TfL means I can travel to work for free using public transport, which is really convenient as Alton Court has frequent bus services to Ealing high street. What’s more, Angela has a really quick journey of just 12 minutes on the bus to school.”
Susan and Angela’s new home has two bedrooms, a modern open-plan living and kitchen area, a family bathroom and a private balcony. She says, “The apartment is beautiful. It’s really well-lit when the sun shines thanks to the dual aspect of the living space and bedrooms. I chose Alton Court over other shared ownership properties locally, because I loved the trees and green space in the area, the location is near to where we lived previously and the homes are safe, secure and elegant.”
“I’m so pleased Angela now has her own private, pleasant space to do her homework and have her friends to stay. We really love to be at home now.”
Alton Court was the first opportunity for buyers to purchase a shared ownership apartment at Alton Court. Planning approval has also been granted for a new collection of contemporary homes of mixed tenure surrounding a landscaped central square, a first for the neighbourhood. This residents’ hub will form the heart of the development, centred at the halfway point of the linear regeneration project and offering a place for the community to meet, socialise and integrate.
To find out more about the homes at Copley Hanwell W7, visit copleyhanwellw7.co.uk or call 0207 846 0291.