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New Homes blog


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First time buyer Nini Mishra (32), a management consultant, has recently celebrated buying a spacious, two-bedroom home at Countryside’s St Paul’s Square development in Bow, London using the Government’s Help to Buy scheme. Nini shares with us how she has bucked the trend and was able to afford a home in the capital.

Why buying is cheaper than renting - by first time buyer Nini Mishra

“Believe it or not I am now paying less in my monthly mortgage repayments than I was paying to rent a property in East London! The price of rent in the capital is extortionate. My family weren’t in a position to help me, so I knew Help to Buy was my best option. It would have been very difficult for me to get on the ladder in an area I wanted to live in without the scheme; I would have needed to save another £89,000 to get a decent mortgage rate where I could afford the monthly repayments. The five percent deposit meant I needed a more achievable £26,000, which I saved for over five years. As a result of buying, my mortgage repayments are now cheaper than my previous rent in the same area, and I have a two bed property.

St Paul’s Square is a great development for young professionals earning a good London salary and looking to get on the housing ladder. I could not afford the deposit of £111,000 to buy the property outright without using Help to Buy, so for people like me, the scheme works perfectly. With property prices rising steadily, my plan is to re-mortgage and pay the 20% Help to Buy equity loan back, thereby just leaving my mortgage repayments.

“St Paul’s Square was the first and only development that I looked at as Help to Buy wasn’t being offered at many developments when I was looking to buy. I was the second person to buy so I benefited from the early bird scheme. St Paul’s Square ticked all the boxes for me, especially in terms of location. From St Paul’s Square there are quick connections to Kings Cross station and Liverpool Street, where I can travel to visit my family in Cambridge. It is also within close proximity to Bank, meaning my commute into the city is less than 30 minutes. I also go out a lot in East and North London and have close friends living in this area so it is handy for me.

“The development itself is also a social hub and many of my neighbours have also bought with Help to Buy. We have a Facebook and WhatsApp group and regularly plan socials together. It makes a great community for like-minded young professionals.

“I was really impressed with the property and especially the size of the balcony. Without Help to Buy I would never have been able to get on the property ladder. I would definitely recommend the scheme to anyone considering ways in which they can afford to buy their own home. Do weigh up all your options because you never know, like me you may even save on your monthly outgoings!”

All the best,

Nini Mishra

Countryside has new homes available that make a great first property throughout London, the South East and North West. Help to Buy London is also available offering a government loan of up to 40% helping to make buying a property in the capital more affordable and the Help to Buy ISA is available to assist with saving for that deposit! In addition, Countryside has an experienced team that will do everything they can to help you move.


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About this blog

Here you’ll find property related blog articles from the team at Countryside as well as independent experts. Expect regular tips and advice on topics such as buying a new home, interior and landscape design, setting up home, mortgages and finance, plus articles on architecture, the property market, regeneration and more.

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