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Evening Standard
Evening Standard
Business
Sophie Vening

Shared ownership in London: how I bought my first home using the part-ownership part-rental scheme

Step up: Pedro in his kitchen at the Eastside Quarter development

(Picture: Handout)

Originally from Portugal, Pedro Embalo, 28, rented on the open market in London after graduating. After landing a job as a team manager at Tesco, he decided to put down roots in the capital.

“I really wanted to get on to the property ladder here as I love the city,” says Pedro. “However, with such high property prices, it’s really difficult as a first-time buyer to build up a large enough deposit or secure a big enough mortgage.”

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