Edison is a 48-year-old interior designer who owns his studio flat in Pimlico thanks to Right to Buy (Picture: Matthew Chattle/Metro.co.uk)

For the last year we’ve been taking a look at the reality of renting in the UK.

Now it’s time to look at the flipside; what it’s actually like to buy property, how people do it, and why.

Don’t worry, What I Rent isn’t going anywhere. That’ll still be out every Tuesday at 10am.

But alongside it we’re going to be sharing the ins and outs of people buying their homes, in a new series called What I Own (creative name, we know).


We reckon it’s important to look at the buying and owning side of things because for renters hoping to get on the property ladder, there’s still a lot of mystery shrouding the process of affording your own place.



It doesn’t help that so many people who own say it’s as simple as saving money, but neglect to mention the fact they were able to live at home rent-free for years, or that they received a load of money towards their deposit from their wealthy parents.

We’re hoping to share all sorts of stories of homeownership, with total honesty.

First up we’re chatting to Edison, a 48-year-old interior designer who owns a studio flat in Pimlico.

The studio flat has a living area, a bedroom, a kitchen, a bathroom, and a patio area (Picture: Matthew Chattle)

Hey, Edison. Tell us about yourself and what you do.

I’m a born and bred Londoner of mixed parentage. I live and work centrally. I’m an interior designer and for nearly 10 years I ran my own business.

I’m now exclusively employed and manage a design company in the interiors sector. It’s a varied role and I have many responsibilities that make it exciting, creative and challenging all at the same time.

How long have you lived in the flat?

I rented this place for 15 years and have owned it for five years.

To be honest, I often forget I own it and I still think that I’m renting. Maybe it’s because nothing much has really changed except for some legal paperwork.

He rented the property for over a decade before he was able to buy it (Picture: Matthew Chattle/Metro.co.uk)

Edison says renting and owning don’t feel much different (Picture: Matthew Chattle/Metro.co.uk)

And the big question: How did you buy this place?

I bought my home through the council’s Right to Buy scheme. That makes me a previous renter who has since bought their home.

It’s a great idea and gives many people the opportunity to get onto the property ladder whilst money from the sale of the property is injected back into building new social housing.

Because of the way the scheme works, I didn’t need any deposit money as certain banks and buildings societies take the discount applied to the property value as the deposit amount. They then loan on the remaining value (after discount) and your discount is based on how long you have been a council tenant.

Basically, the longer the tenancy the greater the discount.

My personal outlay for legal fees etc came to around £2,500.

What is Right to Buy? Right to Buy is a scheme that was introduced in 1980. It gives tenants living in social housing the right to buy their home at a discount. From 6 April 2019, maximum discounts are £82,800 across England and £110,500 in London. Discounts increase in April every year in line with any increase in inflation. You can apply to buy your council home through the scheme if: it’s your only or main home

it’s self-contained

you’re a secure tenant

you’ve had a public sector landlord (for example, a council, housing association or NHS trust) for three years – it does not have to be three years in a row You can check the discount on your council home you might be eligible for with the Right to Buy calculator.

Why was it important for you to own a place instead of renting forever?

Through hard work and determination (even through some really difficult times) my situation greatly improved and I was in a position to buy my home.



Having a mortgage on the property instead of continuing to pay rent meant only a slight increase in my monthly outgoings, so it just made financial sense.

The flat isn’t massive, but it’s plenty for Edison (Picture: Matthew Chattle/Metro.co.uk)

He’s made the flat his own (Picture: Matthew Chattle/Metro.co.uk)

Loads of us assume that if you own a house, you must be making loads of money or have come from a wealthy family. Your situation is a bit different because you did Right to Buy… did you need to be earning a lot to own your place instead of renting it?

When I first started out in setting up a business and a career, I was earning around £18,000 a year. It wasn’t much for London living but enough to get by, pay my rent, buy food, pay the utilities and a yearly holiday.

Having had my own business as well as studying and working in some very creative environments has kept me continually focussed on one thing: property. It’s just in my blood and I’m continually encouraged. It’s what has helped me build on what I have today and what I strive for tomorrow.

How much do you now need to pay to live here?

My mortgage is £650 a month.

I have another 19 years on the mortgage, but it gets reviewed every few years for a new fixed-rate term, so the monthly payments will change over time.

The total mortgage was £140,000.

Broadband and line rental is £40 a month, water is £27, council tax is £44. It’s about £80 each quarter for electricity and I have a maintenance charge of £900 a year. The maintenance also covers my communal hot water, heating and buildings insurance too.


When I was renting, I was paying approximately £500 a month.

What was the process of getting a mortgage like?

I wasn’t really prepared and I have to say the council and the building society (Nationwide) took care of everything. The council organised the survey report and Nationwide had recommended solicitors, so I didn’t have to search for them.

The mortgage application was straightforward and the total loan amount was calculated on how much I could safely borrow, which was enough to secure the loan.

I didn’t find anything too confusing and if I had any questions I just asked the appropriate department to explain.

Look at that mini bar in the kitchen! Lovely (Picture: Matthew Chattle/Metro.co.uk)

What do you like about the flat?

Unlike most home buyers, I didn’t have a choice in what I would buy. I bought what I knew and had rented for 15 years.

I love my tiny home, all 30 sqm meters of it! It’s easy to manage in my busy life, just a perfect London base for a single guy like me. I can literally clean the whole flat and change the bedsheets within an hour.

Before moving in as a tenant, I was interviewed by a panel made up of a Housing Officer, Estate Manager and Head representatives of the Tenant’s Association that were managing the estate at the time, so it wasn’t handed to me on a plate.

I’m really fortunate to have the private patio space. It’s quite unusual to find a small studio flat attached to a large patio which overlooks some well-maintained communal gardens, complete with parakeets, exotic plants and bee hives.


It’s a perfect area for summer days and it offers me an additional 15 sqm of floor space to live and breathe in.

Yes, we do enjoy the pig (Picture: Matthew Chattle/Metro.co.uk)

The ideal kitchen for one (Picture: Matthew Chattle/Metro.co.uk)

Was it important to own a property in Pimlico?

Having my base in London for work is essential and Pimlico is perfectly situated. It’s zone 1, so it’s super central.

There are excellent connections to all other parts of London by tube or bus and it’s only a 5-minute walk to the Thames and Pimlico underground, 10 minutes to Victoria and a 25-minute walk to the West End or Chelsea. I walk everywhere!

It also has a real community/village feel, with various shops and small boutiques. I’m often saying ‘hi’ or having conversations with other locals who live or work in the area on my many walks.

How have you made your flat feel like home?

I’m a collector of things but I have to be careful not to overcrowd my space.

I’m not into contrived interiors. I’m more eclectic in my taste. I’ll mix vintage pieces with modern finds; chuck in some kitsch and I love colour and pattern, even if they clash. It makes it all the more interesting for me.

Homes should express something about their occupiers. It gives the space a soul. And if you go for what you like rather than just replicating a look, it should come together naturally and in harmony.

Things have to be functional too. My vintage Danish Metamorphic coffee table doubles up as a dining table, so I can still invite family and friends around for dinner.

And again, look at that patio space (Picture: Matthew Chattle/Metro.co.uk)

The only improvements I’ve made since buying my home are new flooring to the kitchen and bathroom, a new kitchen worktop and sink unit and I had a fitted wardrobe installed. That, and a fresh lick of paint here and there.

I’ve had the same ‘Kashmir Beige’ on some walls for almost as long as I’ve lived here. I just keep repainting it the same colour when it needs refreshing. It’s timeless.

At some point, I do want to put in a new bathroom with a walk-in shower but that’s for when I can find the time and patience to do so.

Do you feel like you have enough space in the flat?

There is never enough space although too much space requires more maintenance and a higher financial burden. This is a difficult question to answer.

How are thing different now you own the flat rather than renting it?

As a leaseholder, I’m now responsible for the upkeep of my property so most repairs are now financed by me. Any structural damages such as an external broken drainpipe or leaking roof, the council are still responsible for and this is paid through my annual maintenance charges.

If there are any additional estate improvements works, such as a new intercom system installation, then I may have to contribute financially to those works.

The bedroom area (Picture: Matthew Chattle/Metro.co.uk)

One great thing about owning: You can hang as many pictures as you like without worrying about your deposit (Picture: Matthew Chattle/Metro.co.uk)

My day to day living here is the same as when I rented, although I take a lot more care about my space as I have the responsibility of maintaining it to a good standard.

If I ignore any little problem and let them develop over time, then it only means I will have to pay more to put it right.

What are your plans for the future, in terms of housing? Will you stay here forever?

As my London base, this is all I really need and am probably able to afford if I want to remain in central London. Although prices have stagnated across the country due to the Brexit situation, they still remain ridiculously high in London.

There might be an opportunity sometime in the future to rent this place out and spend more time in the sun.

Although born here, not far from where I live and work, I still can’t get used to the British weather but that really is such a small price to pay for what I have managed to achieve so far.

How to get involved in What I Own What I Own is a Metro.co.uk series that takes you inside people's properties, to take an honest look at what it's like to buy a home in the UK. If you own your home and would be up for sharing your story, please email whatirent@metro.co.uk. You'll need to have pictures taken of your kitchen, living room, bathroom, and bedroom, plus a few photos of you in your room. Make sure you get permission for your housemates! You'll also need to be okay with sharing how much you've paid to live there and how you afforded the deposit, as that's pretty important. If you're renting, you can take part too! What I Own runs alongside What I Rent, which is the same series but all about renting. Again, if you'd like to get involved just email whatirent@metro.co.uk.

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