Case study

The San Miguel family

After renting from a housing association for more than two years Imelda and Efren San Miguel wanted more to show for their money – and to make an investment in their future.

The couple, who have a six year old daughter called Kirsten,  swapped their two bedroom flat in Fulham for a 25 per cent share in a two-bedroom artisan apartment on the site of the former Chelsea College of Art and Design – where famous names such as Henry Moore was a pupil and Graham Sutherland  and Patrick Caulfield taught.

Just moments from the River Thames and the new Imperial Wharf railway station the couple’s new home is equipped with a modern, fully fitted kitchen, state-of-the-art appliances and is fully carpeted.  There is also secure parking and a concierge on site.

Valued at £430,000 Imelda and Efren were able to put down a 20 per cent deposit on their new home and estimate that their monthly mortgage payments of around £531 and £234 in rent for the remaining 75 per cent of the property are almost the same as the rent they paid as social housing residents.

For Imelda, a nurse, and her husband Efren, a healthcare assistant, their new home is a dream come true.

Imelda said:  “It is better than we expected.  We never thought we could get this kind of property.  The area is safe and secure, close to the railway station, to work and to my daughter’s school and most of all it is an investment.”