Legal & General Affordable Homes: Lower deposits with Shared Ownership
First time buyers homes to get on the property ladder
There are many things that attract us when finding our dream home – it may have open green spaces on the doorstep, or be right next to the river, or nestled in a neighbourhood where all your friends and family live. But sometimes the dream of getting on the property ladder feels just out of reach. Shared Ownership is here to help you on to the property ladder sooner than you think, especially if you’re unable to buy on the open market. If Shared Ownership is unfamiliar to you, you’re not alone. Despite increased interest, there is still a bit of mystery around Shared Ownership, so we decided to unbox its benefits for you.
Shared Ownership is a government-backed scheme where you purchase a share of a home’s full value and pay a subsidised rent on the remainder. You can increase your owned share in the property over time via a process called staircasing if you wish to do so.
A few benefits of Shared Ownership? Other than being a more affordable way to get on the property ladder than purchasing outright, you have a whole host of other perks too:
- Privacy: Shared Ownership does not mean you have to share your home with strangers. You choose whether to live alone or with a partner or your family. We repeat, there is no sharing your home!
- Access: Shared Ownership can be for anyone over the age of 18 as long as you meet the eligibility criteria. It doesn’t matter whether you’re a first time buyer or a serial mover, as long as you don’t currently own a home, and meet the financial requirements, then it’s definitely an option worth exploring.
- Lower costs: Shared Ownership homes are often cheaper than renting privately. With deposits as low as 5% to start with as well as paying less each month, you’ll enjoy the stability and security of living in a home of your own. You can use LGAH’s affordability calculator to check how much you might be paying. What’s more, all our homes are new built, high quality and energy efficient, helping manage energy costs.
Now to the modern and spacious homes available. If spring and Easter are giving you outdoorsy vibes and you can’t wait to explore the great green landscape, or if summer in the city is what floats your boat, Legal & General Affordable Homes has Shared Ownership properties all over the country that will tick all the boxes for you. We’ve listed some below.
Trent Park – Enfield, North London, EN4 0PS
Whether you want to go looking for Easter bunnies in the woods or dash to central London for a meeting, the homes at Trent Park are perfect for both. Located on what was once a royal hunting ground, Trent Park sits in the middle of Oakwood, Cockfosters and Hadley Wood, providing sound connections to central London while being enclosed within over 400 acres of pristine North London parkland.
Modern homes with the latest energy saving features not to mention the plethora of outdoor activities, from golf to horse riding are all available at Trent Park.
Prices start at £110,625 for a minimum 25% share. For a limited time, LGAH is contributing up to £6,875 towards new home purchases at Trent Park (T&Cs apply).
The Acer Apartments – Wood Lane, White City, W12 7RQ
With The Acer Apartments you are in the heart of London, having your pick of Kensington Park, Holland Park, the Portobello Market or Notting Hill. The high quality studio and one bedroom apartments are set within eight acres of stunning green spaces and the location offers top-quality retail, entertainment and leisure options with Westfield, the Electric cinema, Queens’ Park Rangers football club and roller skating venues all nearby. The homes also come with 24-hour security and private concierge.
Prices start at £126,250 for a minimum 25% share.
The Moorings – Brentford, London, TW8 8FU
Homes at The Moorings are surrounded by nature, sitting on Grand Union Canal waterfront and close to the trio of the famed Syon Park, Kew Gardens with its gorgeous Treetop Walk, and Richmond Park. Nearby Brentford high street and Westfield London also provide plenty of entertainment, leisure and retail amenities and keep you in the swim of city life. The two bedroom apartments at The Moorings are built to a high specification and all homes include private balconies, a communal roof terrace and a great community to be a part of.
Prices start at £131,250 for a minimum 25% share.
Rogerson Gardens – Whittingham, Preston, PR3 2JJ
Situated in a quaint Lancashire village and surrounded by open fields, Rogerson Gardens is in an idyllic location to lay your foundations in a serene setting. Preston station is a few miles away and offers excellent rail connections to urban centres across the region including to Manchester in just 31 minutes. Homes at Rogerson Gardens feature a contemporary open space design to let in plenty of light, along with a private garden to entertain friends and family.
Prices start at £74,000 for a minimum 40% share.
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home-buying schemes such as Shared Ownership via our article index.