Shared Ownership Week – Interview with Angela Barry, Sales Manager at SNG
To mark Shared Ownership Week in City AM, we sat down with Angela Barry, Sales Manager at Sovereign Network Group, to get her views on Shared Ownership in the current market.
Why is 2025 the right time to try shared ownership?
At the moment, Shared Ownership is one of the only options for buyers that don’t have the funds to buy a home on the open market, and I think interest in the scheme will continue to grow over the next few years. It’s a brilliant way for renters to get onto the property ladder with a home they can make their own, something that is important for those that have been renting for a while. It’s an investment for the future, you can stay as long as you want to before moving on and nobody is going to tell you that your tenancy is up after six months! I’ve heard so many comments from buyers that are all so excited to decorate – they’re excited to put up wallpaper and make it their own, something you can’t do if you’re renting or staying with family.
Once they own their share, buyers have the opportunity to staircase to a higher share when their funds allow, or they can sell up if their circumstances change. Sometimes a property has grown in value by the time owners wish to sell, so they can make some equity in their share, which is a bonus.
What does the typical Shared Ownership buyer look like at SNG?
Contrary to what many people think, Shared Ownership isn’t just for first-time buyers. We have a range of customers that have used the scheme with SNG, including downsizers and those that have had recently had a divorce or relationship break down. As long as you meet the eligibility criteria and don’t currently own a home, the scheme will work for you. This even applies if you’ve been a homeowner before; as long as you’ve sold your previous property and the Shared Ownership home you plan to buy will be your principal property, you will be allowed to buy with Shared Ownership.
Which areas in London are exciting you right now in terms of where to buy?
Regeneration areas always pose an exciting opportunity for customers to buy into the growth of an area. Areas of regeneration in London, such as Edgware, Southall or Harrow for example, are undergoing such significant change that property prices are usually expected to increase once all works are complete. So if you’re wanting to buy a home in an up-and-coming area and are willing to wait until the regeneration works are complete, you really will reap the rewards.
Which areas outside of London would you recommend in terms of where to buy?
It depends on the individual buyer’s requirements – whether they need to be within commuting distance, if they need parking, the size of the property etc. Welwyn Garden City is a good option for buyers that are looking to stay within close reach of London, but still far enough to enjoy a quieter pace of life. In Hertfordshire, you feel like you’re really far away from the city as you’re surrounded by gardens, green open space, parks and countryside, but it’s got excellent travel links via the train, M25, M1 and A1.
Which of your shared ownership properties do you think is a steal right now?
We’re currently selling some gorgeous two bedroom apartments at ICON, which is located along Burnt Oak Broadway, not far from Wembley. It’s within a regeneration area and it’s in such an excellent location for young professionals especially. There’s a great range of shops locally, excellent public transport links including the Northern Line, a supermarket underneath the apartments and a state-of-the-art gym has recently opened in the commercial space too. Lots of our residents have become members of the gym and love being able to jump out of bed and be downstairs for a workout in less than five minutes!