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Contact

  • Phone:
    020 8502 5758
    Opening times:
    Head Office Monday to Friday 9am - 5.30pm
    (Please note that flexible viewing times are available including weekends)

Key Documents

Michael Brown

Michael Brown, 48, had been renting a room in his friend’s house for 20 years. Although the rent was cheap, the house was an older property, and he was eager to invest in a modern property of his own.

“I work as a Project Manager for Building Schools for the Future, an initiative building and constructing new secondary schools across the country”, he says. “After years living in a shared house, I wanted to own something of my own  - something new and all fitted out - but was unsure about whether I could afford it.”

Michael saw a feature about the New Build HomeBuy scheme in a daily London newspaper and then visited the One Housing Group website for more information. Under the scheme, anyone with an income of up to £60,000, unable to afford a property on the open market can buy a share of a flat instead, paying rent on the remaining portion.

An ex-runner and international sports coach, and interested in the construction of the Olympic site, a new development in Stratford caught Michael’s eye.

“The Edge  seemed to be of a really high quality. It also really appealed to me because it overlooks the river, the park and the Olympic site, he says.”

The Edge is a brand new development of flats with balconies, car parking spaces and a communal landscaped garden area in Stratford, east London. Michael bought a 35% share of a two-bedroom flat priced at £247,000 (which included a maintenance fee) and pays £550 mortgage every month and rent on the remaining share.

“The flat has top quality appliances, is in a great location and is in a really well-maintained development – you get the sense that it’s really cared for.”

Although buying a new home can often be a long process Michael first viewed the flat at the end of April 09 and moved in by the beginning of July.

“The people from One Housing Group were really helpful and the whole process was very well coordinated. When I wasn’t clear about the completion and exchange process they responded immediately, and the legal advisors they recommended were great.”

Despite buying during a difficult period for the housing market, Michael is confident he made the right decision.

“As I work in the public sector I had to make sure my job was safe and secure before I committed to investing in a property. But I talked to my employer, who reassured me and advised that it was a perfect opportunity for me.”

“The freedom and the independence that comes from owning your own home is great. You take pride in it because you’ve invested in it. It’s security for the future – yours and no-one else’s.”