Shared Ownership is becoming an increasingly popular option for first-time buyers who want to capitalise on owning a home in London. The concept enables investors who are faced with modest incomes to buy up to 75 per cent of a property via access to government-related schemes.
For potential property owners, here are five London boroughs that are worth investigating and where Shared Ownership projects are thriving:
Harrow: Affordable houses for sale in Harrow don’t hang around for long as they prove exceptionally popular in this district. The fact the borough is 20 minutes by train to Marylebone and less than 15 minutes to Euston means it offers excellent rail connections into the heart of the city. But then, there are also a host of attractions that confirm it as a popular place to live. Close to the likes of London Zoo, the MCC Museum, as well as more local attractions, such as the Harrow Arts Centre, Harrow Museum and Safari Cinema, it is also home to the recently revamped Newton Park, a 46-acre open space, wetland and river amenity.
Lambeth: Another south London suburb that is trending more and more is Lambeth. Its colourful murals will enchant many as much as the area’s art galleries, markets, boutique shops and cafes, as well as its parks, such as Brockwell Park. Fancy doing the Lambeth Walk? This studio flat in St Georges Wharf offers a great opportunity to get a foot on the property ladder in Lambeth.
Lewisham: Located in South London, Lewisham offers a wonderful array of Shared Ownership property opportunities. Great for rail connections to Charing Cross Canary Wharf and London Bridge, Lewisham is well-regarded as an up and coming area with a host of quirky attractions, including Victorian collectibles at the Horniman Museum; the 1950-era Rivoli Ballroom and the Walter Seagal self-build homes which are a forerunner to today’s affordable homes. National shared ownership portal Property Booking web portal offers a fantastic project in Iris Court, where investors can buy a 60 per cent share of a property with a minimum deposit of £14,400.
Greenwich: In South East London, Greenwich is much-sought after by investors who want a Shared Ownership experience, mixed in with a slice of history, grand projects and to be close to the water. So it makes perfect sense to be located here as the borough hosts the world-famous Cutty Sark and Gypsy Moth, as well as National Maritime Museum and the University of Greenwich. Grand historic homes, such as Vanbrugh Castle, add to its exclusivity. For those looking for houses for sale in Greenwich, shared ownership specialist housing association Moat Homes offer a range of affordable homes in this sought after area.
Merton: Affordable housing in this south-west city borough offers a diverse range of properties from apartments to two and three-bed homes. The borough is dominated by the likes of Wimbledon, the home of tennis, as well as offering fantastic rail connections across the capital. Investors will be spoilt for choice with the Shared Ownership options, including these one, two and three-bed properties at Meridian Gate, with a minimum deposit of £5,438.
Property Booking’s team has experience working within the affordable home sector in London. View their website at www.propertybooking.co.uk for more information and guidance.