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“Shared ownership is a scheme tailor-made for young professionals, like myself” said Claudius Mann, who recently moved into a new flat at Clarion’s Lexicon scheme at East City Point in Canning Town.
Since moving to London from Berlin two years ago, Claudius had been living in private rented accommodation. “I had ruled out buying a home in London outright as I knew that I couldn’t afford the deposit. But six months ago a work colleague told me about Shared Ownership and after doing some research into the scheme I realised it was perfect for someone in my position, particularly as I didn’t need a large deposit.”
He signed up on a number of housing providers’ mailing lists so he could hear about the latest shared ownership developments in the capital as soon as they became available. Clarion’s sales team invited Claudius to the Lexicon and he was immediately enticed by the prospect of buying a two-bedroom flat at the development.
He said: “There were a number of factors that attracted me to East City Point and the location was definitely one of them. I work by Monument station which is only a short distance on the Jubilee line from Canning Town. It’s also a very up-and-coming and trendy area, with lots of new developments springing up. The other draw for me was the price, which I thought was very good for a two-bedroom flat in London.”
Claudius moved into his new flat in May 2018 and is very pleased with his decision: “I am very confident about my future now - I plan to be here for many years to come. If it’s possible, I plan to ‘staircase’ (buy more shares) in the future.”
“I wouldn’t have any hesitation recommending shared ownership to other young professionals in my position, but my main advice would be to do your research and ask lots of questions, no matter how stupid you think they might be” he said.