First-time buyers Money My First Home Property Tech

First-time buyer spends £285k on London flat that has LESS floor space than a tube carriage

First-time buyer spends £285k on London flat that has LESS floor space than a tube carriage

A FIRST-TIME buyer has sacrificed space to stay in a tiny flat the identical measurement as a Jubilee Line practice carriage to get on the property ladder. 

Lissa Cardell, 32, has been dwelling in her London £285,000 micro-home for a yr now regardless that it is solely 31 sq. meters.

 Lissa bought her micro-flat in October last year

Peter Jordan – The Solar

Lissa purchased her micro-flat in October final yr

It is simply one of many 7,800 tiny transformed workplace space flats constructed throughout the UK in 2017 and are a part of London Mayor Sadiq Khan’s plan to inject the capital with 116,000 reasonably priced houses by 2022.

Lissa, who’s initially from Dorset, was “shocked” on the measurement when she first noticed it however felt prefer it was her solely choice to purchasing a place with out having to maneuver out of London.

The one-bed Croydon flat designed by Impressed Houses value almost £30,000 much less than a regular sized flat within the space due to its lowered space.

It measures eight sq. metres much less than the minimal space normal tips set by the federal government and 18 sq. metres smaller than the typical.

 The kitchen and living room is open plan

Peter Jordan – The Solar

The kitchen and front room is open plan

 Lissa says that she'd struggle with the lack of space if it wasn't for her balcony

Peter Jordan – The Solar

Lissa says that she’d wrestle with the shortage of space if it wasn’t for her balcony

However to get planning permission for dwelling areas smaller than the rules, the flats need to be excessive spec, similar to together with a sensible heating system and fully-fitted kitchen.

The dimensions means Lissa’s needed to adapt to a “streamlined lifestyle”, slicing again on muddle and proudly owning nothing that she does not use as a result of there’s merely not sufficient room for storage.


Are you a first-time buyer who need to share ideas on how you probably did it? E-mail us at cash@the-sun.co.uk or name 0207 78 24516. Do not forget to hitch the Solar Cash’s first-time buyer Fb group for the newest ideas on shopping for your first residence.


It took Lissa, who works in cinema sponsorship, seven years to save lots of the £13,000 deposit whereas she continued to lease in London. She additionally used a £114,000 Assist To Purchase mortgage.

This week within the My First House collection, we caught up with Lissa to learn how she makes use of sensible furnishings to outlive dwelling in a small space and if she feels that scaling again the dimensions of her house was value it.

The place do you reside and when did you purchase your first residence?

I purchased my micro-flat in Croydon in October 2017 so I have been dwelling right here for about a yr now.

It is a small one-bed flat with an open plan kitchen and front room, a bed room, a toilet and a balcony.

 The tiny one-bed flat means that there isn't a lot of room for storage

Peter Jordan – The Solar

The tiny one-bed flat means that there is not a lot of room for storage

 As a first-time buyer, Lissa had to invest in furniture that could double up as storage

Peter Jordan – The Solar

As a first-time buyer, Lissa needed to spend money on furnishings that might double up as storage

It is a block of 82 new-build flats and it is proper on the excessive road and near the practice station which is straightforward for me to get to work.

Okay, how small is it actually?

Individuals gasp once they come into the flat for the primary time, once they see how small it truly is.

Once I appeared round it in Might that yr, I might ready myself that it was going to be small however I used to be shocked once I noticed it. It is tiny.

At first, I actually wasn’t positive that I might reside in such a small space. I needed to get my head round it.

Although I actually favored it, I needed to get my mum to return round with me for a second time to see what she thought.

 Lissa still wanted to be able to entertain guests for dinner

Peter Jordan – The Solar

Lissa nonetheless needed to have the ability to entertain friends for dinner

 She's managed to fit six people around her table for dinner in the micro-flat

Peter Jordan – The Solar

She’s managed to suit six individuals round her desk for dinner within the micro-flat

 The flat has just the one bedroom

Peter Jordan – The Solar

The flat has simply the one bed room

I went for a viewing on my very own within the morning and a second one within the afternoon with my mum.

We determined that the space was sufficient for one individual and I put down the £500 holding deposit on the identical day.

I really like entertaining and having individuals over for dinner and I can nonetheless get 4 individuals comfortably around the desk – I’ve even had six over for dinner however that was a little bit of a squash.

If it did not have the balcony although I feel I might wrestle.

How a lot did you pay and what’s your mortgage?

My finances was round £290,000 and I purchased the flat for slightly below that at £285,000.

I additionally took out a £114,000 Assist To Purchase mortgage which was value 40 per cent of the property worth.

 Luckily, Lissa didn't have to buy any white goods

Peter Jordan – The Solar

Fortunately, Lissa did not have to purchase any white items

 The one-bed flat in Croydon was designed by Inspired Homes

Peter Jordan – The Solar

The one-bed flat in Croydon was designed by Impressed Houses

I put down round a 7 per cent deposit which was £13,000 and took out a two-year fixed-rate mortgage with Skipton Constructing Society for £158,000.

I pay £475 on my mortgage each month which is nearly half of what I used to be paying to lease a room in London.

To be trustworthy, I’ve not likely acquired a large plan of how I’ll pay again the mortgage.

I am going to in all probability simply maintain it and pay the curiosity on it after the five-year curiosity free bit is over and pay it again once I come to promote the home.

How did you handle to save lots of?

I have been saving to purchase a flat ever since I first moved to London about seven or eight years in the past.

It wasn’t all the time a lot as a result of I used to be all the time renting so typically it might solely be round £50 a month.

 The living room opens up on to a balcony

Peter Jordan – The Solar

The lounge opens up on to a balcony

 The flat has less floor-space than a tube carriage on the Jubilee line

Impressed Dwelling

The flat has much less floor-space than a tube carriage on the Jubilee line

As I started to earn extra as I progressed in my job I used to be capable of put apart a bit extra, however dwelling in London is dear and it is so exhausting to save lots of for those who’re not ready to do nothing.

I am fortunate as a result of in my job I can get a bonus each quarter so every time I obtained one I might put it straight into financial savings.

By the point it got here to purchase, I had about £14,000 to cowl the deposit and costs.

How about furnishing it? And may you match your whole stuff in it?

I might all the time lived in furnished flats earlier than so I did not have any of my very own furnishings earlier than I moved.

Fortunately, I did not have to purchase any white items or something as they have been already within the flat and it is all tremendous high-spec which was one of many appeals of this place.

Storage within the flat shouldn’t be nice, so I needed to discover furnishings that can double up as a place to place my stuff.

 Lissa's had to be smart with her furniture that doubles up as storage space

Peter Jordan – The Solar

Lissa’s needed to be sensible together with her furnishings that doubles up as storage space

 The one-bed flat has an open plan kitchen and living room, a bedroom, a bathroom and a balcony

Peter Jordan – The Solar

The one-bed flat has an open plan kitchen and front room, a bed room, a rest room and a balcony

I’ve obtained a mattress that lifts up so that you’ll be able to match issues in it and a footstool in the lounge that does the identical.

They have been costly so I needed to borrow the cash for them from my mum and pop however I used to be capable of pay them again inside a couple of months of shifting in.

Different than that although, I have never actually purchased something new – not even issues like photograph frames and crops – as a result of there’s simply no room for it.

You must reside a very streamlined life and scaling every little thing again as a result of there’s simply no room for muddle like there’s in a regular flat. I exploit every little thing that’s in it.

I needed to undergo an aggressive month-long means of binning a great deal of issues earlier than shifting in – there simply is not room to carry on to issues that is perhaps helpful sooner or later.

 The flats are fitted with tech such as a smart thermostat and security system

Peter Jordan – The Solar

The flats are fitted with tech similar to a sensible thermostat and safety system

Is it value dwelling someplace so small if it means getting your personal home?

I feel it is value it. I might been saving for therefore lengthy I assume it is simply how a lot you are prepared to compromise on to personal your personal place. For me, I figured I might hand over the space.

I might additionally had sufficient of renting. I used to be renting a two mattress place in Streatham with my good friend which value us £750 a month plus payments and council tax on prime.

Our landlord determined to promote the property and though we might keep there, we have been going to should pay a load of charges to vary the contracts and I simply did not need to.

I used to be taking a look at a few one-bed locations in South London however I knew realistically I might have to maneuver additional out which I wasn’t eager on.

That is when I discovered this place which is in a good location with good connections and I might afford it so it made sense.

I’d like to remain for a couple of years nevertheless it’s not someplace the place I’d wish to reside for for much longer than that.

It is sufficient to get you on the property ladder and I’d advocate it as a result of it is utterly my very own.

It is a nice choice for individuals trying to purchase on their very own and it is actually sociable as a result of everybody else dwelling within the block is across the similar age.

What assistance is on the market for first-time consumers?

GETTING on the property ladder can really feel like a daunting process however there are schemes on the market to assist first-time consumers personal their very own house.

Assist to Purchase Isa – It is a tax-free financial savings account the place for each £200 you save, the federal government will add an additional £50. However there’s a most restrict of £Three,000 which is paid to your solicitor if you transfer.

Assist to Purchase fairness mortgage – The federal government will lend you as much as 20 per cent of the house’s worth – or 40 per cent in London – after you’ve got put down a 5 per cent deposit. The mortgage is on prime of a regular mortgage however it could solely be used to purchase a new construct property.

Lifetime Isa – That is one other authorities scheme that provides anybody aged 18 to 39 the prospect to save lots of tax-free and get a bonus of as much as £32,000 in the direction of their first house. It can save you as much as £four,000 a yr and the authorities will add 25 per cent on prime.

Shared possession – Co-owning with a housing affiliation means you should purchase a a part of the property and pay lease on the remaining quantity. You should purchase something from 25 to 75 per cent of the property however you are restricted to particular ones.

“First dibs” in London – London Mayor Sadiq Khan is working on a scheme that will prohibit gross sales of all new-build houses within the capital as much as £350,000 to UK consumers for 3 months earlier than any abroad advertising can happen.

Starter Residence Initiative – A authorities scheme that will see 200,000 new-build houses in England bought to first-time consumers with a 20 per cent low cost by 2020. To obtain updates on the progress of those houses you’ll be able to register your curiosity on the Starter Houses web site.


We pay in your tales! Do you’ve gotten a story for The Solar On-line Cash workforce? E mail us at cash@the-sun.co.uk or name 0207 78 24516. Do not forget to hitch the Solar Cash’s Fb group for the newest bargains and money-saving recommendation.


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