While you may have made a few big plans for 2022, this year is a great time to think about buying a home. With the shared ownership scheme growing across the UK and picking up traction in areas like London, buying a home is definitely changing in the face of shared ownership.This is great news for first time buyers who often struggle with those nasty initial down payments that really present you with a big hurdle.
What is Shared Ownership?
This scheme has seen growing popularity in recent years especially for house hunting hopefuls looking to get on the property ladder in London. Shared Ownership allows you to buy a share in the home you want to live in, and rent the rest at a very low cost rate. As the homes are owned by housing associations rent is often minimal and the rent you do end up paying will be a fraction of anything you might be charged via a private landlord. You can also buy more of your home over time by increasing your shares. This makes moving up the property ladder at your own pace, simple and easy and gives you plenty of time to get your finances in check. But certainly the best part about buying a shared ownership home is the smaller deposit and smaller mortgage. You only put down a deposit on the portion you wish to own so this can really save you some cash that can take a long time to save.
Where can you buy?
Shared Ownership is available up and down the country but there are some little gems of developments that should certainly not be going unnoticed. South Place Surbiton is a great little development South West of London with all the countryside calmness that you want from a tranquil home while also ticking all the boxes when it comes to getting smoothly to and from London as a commuter. Situated on the River Thames and nestled within the county of Surrey, South Place Surbiton is an idyllic commuter haven. Closeby to the centre of London, and served by the town of Kingston-upon-Thames, Surbiton is a lovely area with a lot to offer. Shared ownership developments are well worth checking out if you’re looking to settle down somewhere with a great deal of rural charm and countryside community.
London Shared Ownership
If you’re looking for something a little more central, West Drayton is a perfect West London hotspot teeming with shared ownership apartments. With the area being home to plenty of green space while also being just a few stops from the centre of London there’s a lot to love about West Drayton. Nearby to Shepherd’s Bush and with plenty of swanky cocktail bars, restaurants and landscaped gardens, a shared ownership home in West London is a real winner.
So whether you’re looking for an apartment that will deliver on price, location and independence then shared ownership is well worth checking out. With portals like connectwithhome.co.uk offering some great shared ownership opportunities, have a look and you might just find something perfect.