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Evening Standard
Evening Standard
Business
Ruth Bloomfield

How one first-time buyer searched along Crossrail to find a new home — and cheaper monthly bills than a flatshare in Mile End

Rob Johnson says being able to get into the office quickly was a big factor in choosing where to live

(Picture: Handout)

While WFH has undoubtedly been life-changing for many Londoners, Rob Johnson actively prefers being office based which meant that his first home needed to be within an easy commute to his City office.

With Crossrail on the horizon, he decided to house hunt in Woolwich, which is just four stops from Liverpool Street on the new line.

“I actually like the people I work with, and I prefer the social stimulus of being amongst other people,” he said. “I have gone down from five days a week in the office to three, but that is still most of my time so being able to get into the office so fast was a really big factor.”

Rob’s best friend was already living in Woolwich which meant he had had a chance to get to know this rapidly regenerating neighbourhood.

“The riverside area is really lovely to wander around at weekends, and there are lots more amenities coming to the area,” he said.

“Crossrail was a big influence in my decision [...] I should have the same commute time as I would if getting the District and Hammersmith and City Line from my previous flat share in Mile End.”

Rob had begun seriously saving up for a deposit during the pandemic when his living costs plunged, and he decided to buy a new home so that he could make use of the Help to Buy Scheme, putting down a five per cent deposit and raising the rest of the money with a combination of a loan from the Government and a conventional mortgage.

(© S Saunders/ Digital Nation Ph)

In January Rob, 38, a business development manager for a law firm, moved into a two-bedroom £470,000 flat at the Trinity Walk development (www.trinitywalk-woolwich.com). Because the developer, Lovell Homes, covered the Stamp Duty he was able to put down a deposit of £35,000 on his first home, which has two balconies.

His rent in Mile End was £1,025pcm. His mortgage costs him £720pcm.

One potential cloud on the horizon is that under the Help to Buy scheme after five years he will have to start paying interest on his Government loan, as well as his mortgage.

“It is a little bit of a worry, particularly because we don’t know what interest rates will be like by then,” he said.

“But it was either this or not having a place of my own. There was no real other option.”

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