It’s Saturday, so you know the drill – it’s time for another What I Own. This week we are chatting to Katy, who is keen to share her positive story of shared ownership.
as an initiative is ‘misunderstood’ – but hopes to share how her house is an example of how it can work out.I am 39, I’m a lecturer in drama in a busy college in East London and I live in Newham. I’m also a director and theatre maker.
Yes, there are ‘edgy’ bits – but it’s real, it’s diverse, there are lots of shops close by, even ones that are open 24 hours. It’s not gentrified yet, no artisan bakeries and independent breweries – these things seem to be the things people measure the ‘niceness’ of an area by. Seven years ago the property was valued at £375,000 and we purchased a 25% share – as shared ownership tenants. We got a mortgage on that 25% share, and paid rent on the remaining 75%.
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