How history teacher Farhana Mallick put down roots in east London at NHG Homes’ development
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“I would still be renting or living with my parents if it wasn’t for shared ownership – it gives you a lifeline, especially in your 20s or 30s,” said Farhana Mallick.
The history teacher turned to affordable housing provider NHG Homes when she began looking to put down roots in her home city.
Having been raised in east London, she’d spent her early 20s living in this part of the city and so initially looked at properties in Tower Hamlets and Ilford.
However, it was Royal Docks that ultimately turned her head, opting to purchase a quarter of a three-bedroom apartment in 2021.
“I decided I was done losing my money on rent,” said Farhana, who now teaches at a school in Barking And Dagenham.
“I wanted to invest in a property, and have a home I could make my own.
“Shared ownership really appealed to me because it meant I required a much smaller deposit than if I was buying privately.”
a deposit, a mortgage and rent
Farhana, then aged 25, used a £13,250 deposit to buy her share of a property at NHG Homes’s Royal Albert Wharf scheme, taking out a mortgage to cover the remainder of the £132,500 cost.
The apartment, which was then valued at £530,000, costs her £1,391 per month which breaks down as £606 on the loan, £497 in rent and £288 in service charge.
“As a first-time buyer, NHG Homes really helped me to understand the process, and what the steps were,” said Farhana.
“I think many people aren’t aware of what shared ownership is or its benefits, but NHG Homes was so transparent and happy to answer all of my questions – the whole purchase was smooth and enjoyable, with wraparound care from the team.
“As a young person, living in this city, this home gives me great flexibility to either increase my share or sell it based on the market – I could definitely see myself raising a family here.
“With shared ownership making my home more affordable, I’ve now got a spare bedroom and a great community on my doorstep.
“If I was to move homes, I think my next purchase would also be with shared ownership – I can’t recommend it enough.”
selecting Royal Albert Wharf
NHG Homes and other affordable housing providers offer multiple locations where buyers can purchase shared ownership homes, so what made Royal Albert Wharf stand out?
“I’ve stuck to my roots as I grew up in east London and the Royal Albert Wharf community has got a really modern and stylish twist to it,” said Farhana, who has now lived in the area for more than two years.
“I do travel into central London, but often I feel like I don’t really need to, because I’ve got so many things on my doorstep.
“If I am going into town, then I’ll take the DLR as it has so many connections.
“I shop locally a lot, including at Gallions Reach Shopping Park and also Beckton Triangle Retail Park, both of which are very close.”
The development is well connected, with Gallions Reach DLR station less than 10 minutes’ walk offering connections across east London including to the Elizabeth Line at Custom House.
From there, Canary Wharf is three minutes’ away, while Liverpool Street is nine minutes.
Royal Docks itself, which is currently undergoing billions of pounds of regeneration, offers multiple amenities including watersports, events at Excel, restaurants, bars and a new strip of attractions at Immerse LDN – find out more here about The Friends Experience: The One In London, which recently opened there.
More locally, Royal Albert Wharf is home to exhibition space Art In The Docks, Cyrus Todiwala’s Cafe Spice Namaste and The Well Bean Co.
fitting into a community
Farhana said: “Residents have created a great community here and that’s really rare to find, especially as a young person.
“We have our own group, which is great as you can get to know other people living here.
“When I have friends or family visit, there is so much to do on the doorstep – from brunch to Yoga classes and a regular food market on Fridays as well as events happening in Royal Docks.
“There’s a children’s playground being built at the moment as well, and there’s a gym planned – I feel like it’s constantly evolving.
“I’m trying to get into my fitness these days and living here has helped that because it makes me want to get outside.
“It’s so rare to see open water like this in the city. It’s a lovely area to be in.”
As a location to buy, Royal Docks makes a solid case. With much regeneration taking place locally and further transport links proposed, demand for homes is only likely to grow.
key details: Royal Albert Wharf
NHG Homes is set to launch a fresh collection of shared ownership properties at Royal Albert Wharf in September.
A new show home is set to launch at the scheme on August 31, 2024.
Apartments are also available for private sale at the east London development with prices for one, two and three-bedroom homes starting at £375,000, £494,995 and £660,000 respectively.
Call 020 3733 3571 to register your interest or find out more here
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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
