{"id":853,"date":"2025-03-22T07:00:00","date_gmt":"2025-03-22T08:00:00","guid":{"rendered":"http:\/\/www.merlinscove.com\/?p=853"},"modified":"2025-04-13T08:05:50","modified_gmt":"2025-04-13T08:05:50","slug":"what-i-own-we-saved-90000-while-renting-in-london-to-buy-our-barnet-two-bed","status":"publish","type":"post","link":"http:\/\/www.merlinscove.com\/index.php\/2025\/03\/22\/what-i-own-we-saved-90000-while-renting-in-london-to-buy-our-barnet-two-bed\/","title":{"rendered":"What I Own: We saved \u00a390,000 while renting in London to buy our Barnet two-bed"},"content":{"rendered":"
\n
\n\t\t\"Homeowners\t<\/div>
This week, we’re in North London (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

Welcome back to What I Own<\/a> \u2013 Metro\u2019s property series where we speak to homeowners about getting on the ladder.<\/a><\/p>\n

This week, we’re meeting married couple Benj\u00e1min and Dorottya, who recently swapped the stress of London<\/a> renting for their first mortgaged home.<\/a><\/p>\n

After walking past the new-build<\/a> complex at Park Quarter<\/a> one day in 2024, they instantly enquired online about moving in \u2013 and were some of the first homeowners <\/a>in the building to get their keys back in October 2024.<\/p>\n

They’re now getting settled in their \u00a3419,000 Barnet two-bed \u2013 and have even managed to make some home improvements to accommodate their two cats, Millie and Django.<\/p>\n

Here’s what Ben had to say about their property journey…<\/p>\n

Tell us about yourself!<\/strong><\/h3>\n

I\u2019m Ben, I\u2019m 28 years old and I\u2019ve owned a window cleaning company for the last three years. Before that, I was an electrician. My wife Dorottya is 31 years old and she works as a quality assurance engineer. <\/p>\n

\n

\n\t\t\t\tReady to start your homebuying journey?\t\t\t<\/h2>\n
\n

You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from:<\/p>\n

\u2013 Award winning service from the UK\u2019s leading mortgage broker<\/p>\n

\u2013 Expert advisors on hand 7 days a week<\/p>\n

\u2013 Access to 1000s of mortgage deals from across the market<\/p>\n

Unlike many mortgage brokers, L&C won’t charge you a fee for their advice.<\/p>\n

Find out how much you could borrow online<\/a><\/p>\n

Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage.<\/em><\/p>\n<\/p><\/div>\n<\/p><\/div>\n

Whereabouts is your property? What do you think of the area? <\/strong><\/h3>\n

New Barnet. We love it as it is still very close to London and we feel like we’re closer to nature. We have everything that we need on our doorstep.<\/p>\n

When did you move in?<\/strong><\/h3>\n

October 2024.<\/p>\n

How much does your property cost?<\/strong><\/h3>\n

\u00a3419,000.<\/p>\n

How much was your deposit?<\/strong><\/h3>\n

\u00a390,000.<\/p>\n

\n
\n\t\t\"What\t<\/div>
The pair feel closer to nature in New Barnet (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

What is the monthly cost of living here now, both mortgage and bills?<\/strong><\/h3>\n

Our mortgage repayment is \u00a31,880 per month. We don\u2019t currently have internet in our property since it\u2019s a new-build and they haven\u2019t commissioned the cables yet, but once that\u2019s done, it\u2019ll be around \u00a340. <\/p>\n

The council tax hasn\u2019t yet been valued but we think it’ll be around \u00a3200. Our electricity costs \u00a371 per month, water around \u00a330, and the service charge and insurance is \u00a3100.<\/p>\n

How did you save up for your deposit?<\/strong><\/h3>\n

We’ve been saving for about 5 years together. We were renting a one-bedroom flat for \u00a31,100 and later on \u00a31,175, which saved us a lot of money compared to the renting market averages. <\/p>\n

We’ve always been careful and we watch what we spend our money on. We saved a lot on organising our food shopping once a week and eating home-cooked food, cutting out takeaways, and no impulsive shopping. We also didn’t have any loans.<\/p>\n

\n
\n\t\t\"What\t<\/div>
They watched their spending while they were saving to buy (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

What was the process of getting a mortgage like for you? Did you find any parts challenging?<\/strong><\/h3>\n

It was really quick as we had a good mortgage adviser who guided us through the process and answered all of our questions. <\/p>\n

The challenging part was getting our bank statements in order, as we had to gather two years’ worth of monthly statements from our joint account and our personal accounts. It was an annoyingly long process.<\/p>\n

We also received a lot of paperwork from our solicitor and mortgage advisor like the mortgage deed, which wasn’t an easy read. It was hard to digest it.<\/p>\n

\n
\n\t\t\"What\t<\/div>
They previously lived down the road in Finchley Central (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

Can you share details on your mortgage (rate\/term)?<\/strong><\/h3>\n

We have a two-year fixed mortgage of 4.76%. The full length is 25 years.<\/p>\n

Where did you live before this \u2013 were you renting or living with family?<\/strong><\/h3>\n

Finchley Central, where we were renting a one-bedroom flat.<\/p>\n

What made you want to buy rather than rent?<\/strong><\/h3>\n

We wanted our own place to call home and to get on the property ladder.<\/p>\n

How did you find this property? What made you choose it?<\/strong><\/h3>\n

Previously we lived in Finchley Central and liked the area but it was too expensive for us. We wanted to stay nearby, still in London, but in a more affordable area. Once we started looking we found nice flats New Barnet and during the viewings, we saw that the area itself is nice as well.<\/p>\n

As we were coming out from viewing a property in New Barnet we walked past our current building. We had a look later that evening on the website, we booked a viewing two days later and put an offer in straight after.<\/p>\n

We chose it for the spacious balcony, and the fact that we would be the first people to live in the property.<\/p>\n

How have you made the property feel like home? What\u2019s the inspiration for your interior decor style?<\/strong><\/h3>\n

We wanted our place to feelcosy and welcoming. We focused on neutral tones with some industrial bits, and we’re always inspired by Canva and Pinterest, but it’s still a work in progress! <\/p>\n

We\u2019re planning to update the hallway, finish the bathroom, install a full-wall fixed mirror with LED strips, and add more personal touches to the living room and main bedroom.<\/p>\n

\n
\n\t\t\"What\t<\/div>
The pair are still making a few finishing touches to their home (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

So far, we’ve changed the bathroom’s hand wash basin on a pedestal to a cupboard with a new hand wash basin on top. We also made our balcony cat-proof as we have two cats.<\/p>\n

What\u2019s your favourite room and why?<\/strong><\/h3>\n

Our favourite area in the property is the open-plan kitchen\/living room\/balcony. <\/p>\n

We love it as we have a nice and large area where we can have our friends and family together without being on top of each other.<\/p>\n

Do you feel like you have enough space?<\/strong><\/h3>\n

Yes, it\u2019s enough for the two of us and I think later if we plan to have a baby, we will still have enough space for all of us.<\/p>\n

Do you have plans to change the property?<\/strong><\/h3>\n

No, we’re happy here.<\/p>\n

Are there any problems with the property that you have to deal with?<\/strong><\/h3>\n

As it is a new build we don’t currently have internet in our property. We moved in last October, and at the time, we were told the internet installation would be completed within two weeks. <\/p>\n

However, the cabling work was only recently finished. We\u2019re now waiting for the activation and commissioning on their end, which we hope will happen within the next few weeks. Once that\u2019s done, we\u2019ll be able to order an internet package from our chosen provider.<\/p>\n

What do you want people to know about buying a home?<\/strong><\/h3>\n

Take your time to do the research and have quite a specific idea about the must-haves in your future home. We knew we wanted two bedrooms, a balcony, a bathtub, and storage space.<\/p>\n

A detailed list can be your best friend. If you have this strong idea, you won\u2019t spend months viewing properties that aren\u2019t suited to you. And get some basic hand tools!<\/p>\n

\n
\n\t\t\"What\t<\/div>
They say a ‘detailed list’ is your best friend when house-hunting (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

What are your plans for the future, in terms of housing? Do you plan to stay here long-term?<\/strong><\/h3>\n

Yes, we are planning to stay here long-term. We’ll try to save up more money and put it towards the mortgage to reduce the term or the monthly payment.<\/p>\n

Shall we take a look around?<\/h3>\n
\n
\n\t\t\"What\t<\/div>
Welcome home! (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The kitchen is nice and bright and airy (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The pair love to host friends and family in this space (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
That’s a very strong tea line-up (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They’ve introduced a bit of greenery with a few potted plants (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They’re a big fan of the balcony area too (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Love an L-shaped sofa! (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
There’s plenty of space in here (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The pair love still being close to the rest of London (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They’re still waiting for internet access, but they’re making do for now (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
We’re big fans of the cat plant pot (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Oh hi there! (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Ben and Dorottya save money by planning a weekly shop (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Is that an Arsenal fan we spy? (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They’ve integrated plenty of storage space here (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Our to-be-read books pile is also super long (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They’re currently using the second bedroom as an office (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The perfect working-from-home set-up (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
There’s room for a sofa (and a cat cosy) too (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The bathroom is nice and bright and airy (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
They swapped out the hand basin when they first moved in (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
…and are looking to install a full-length mirror (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
The wooden panelling is gorgeous (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
Outdoor space in London is always a plus (Picture: Belinda Jiao)<\/figcaption><\/figure>\n
\n
\n\t\t\"What\t<\/div>
….and Ben and Dorottya love making use of it (Picture: Belinda Jiao)<\/figcaption><\/figure>\n

Do you have a story to share?<\/strong><\/p>\n

Get in touch by emailing MetroLifestyleTeam@Metro.co.uk<\/a>.<\/strong><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

This week, we’re in North London (Picture: Belinda Jiao) Welcome back to What I Own \u2013 Metro\u2019s property series where we speak to homeowners about getting on the ladder. […]<\/p>\n","protected":false},"author":1,"featured_media":857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property"],"_links":{"self":[{"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/posts\/853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/comments?post=853"}],"version-history":[{"count":3,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/posts\/853\/revisions"}],"predecessor-version":[{"id":936,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/posts\/853\/revisions\/936"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/media\/857"}],"wp:attachment":[{"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/media?parent=853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/categories?post=853"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.merlinscove.com\/index.php\/wp-json\/wp\/v2\/tags?post=853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}