London Home Show Sponsors: L&Q
Shared Ownership homes available in and around the capital
As the cost of living rises and average deposits continue to grow, the need for affordable routes onto the property ladder have never been greater. According to the Rightmove House Price Index published in January 2022, the average first time buyer property price grew a whopping 6.8% in 2021 alone, demonstrating the increasing inaccessibility of the UK property market.
Providing an alternative route onto the property ladder, Shared Ownership is a government-backed part-buy part-rent scheme that helps first time buyers purchase a percentage share of their home, and pay rent on the remaining portion. Over time, purchasers can increase the portion of the home they own through a process called staircasing, until they own their home outright.
Building homes and growing neighbourhoods across the capital, and also building homes from Warwick down to Kent, L&Q is a proud provider of the scheme, witnessing first-hand how much it can help buyers purchase their dream home. In 2021 alone, L&Q exchanged on 750 Shared Ownership properties.
An exciting new resource for prospective buyers, L&Q has just released ‘Our Complete Guide to Shared Ownership’ – covering the ins-and-outs of the scheme. The digital booklet details everything from eligibility criteria to life as a Shared Owner, so buyers can make an informed decision on whether it’s the right scheme for them. It’s available to view on lqhomes.com.
Anthonia’s Shared Ownership experience
One purchaser who recently used Shared Ownership to get on to the property ladder is Anthonia Ifeanyi-Okoro, who bought a 40% share of a two bedroom apartment at L&Q at Regency Heights.
As she explained; “I hadn’t really considered Shared Ownership until I came across L&Q at Regency Heights – once I’d seen the development and worked out the maths, it was clear it ticked all of my boxes.
“The second I stepped out at Park Royal and saw this development, I fell in love with it! I absolutely love my home – it was just what I was looking for. Now that I have two bedrooms, I’ve been able to have family stay which has been great. And my outdoor space is going to come into its own over summer, I can’t wait to entertain out there.”
Thinking about her long-term plans at L&Q at Regency Heights, Anthonia comments; “When I think about my future here in this development, I have a few options open to me. I bought a 40% share so I could staircase up to 100%, but right now, I’m just concentrating on enjoying my time here.”
L&Q’s latest developments
L&Q is currently marketing a breadth of new developments both in and outside of London, available through Shared Ownership. Some highlights include…
L&Q at The Silk District; a major new development in the heart of Whitechapel. Part of a joint venture with Mount Anvil, L&Q is offering a range of one and two bedroom apartments through Shared Ownership, each with access to a resident’s cinema and gym. Moments from Whitechapel station, residents can easily access the District Line, Hammersmith & City and Overground lines, whilst the launch of the Elizabeth Line will further improve connections. The apartments are centred around attractive communal areas of open green space and planting, with each home also providing access to a private balcony or terrace. Prices start from £124,375 for a 25% share of a one bedroom apartment (FMV: £497,500).
L&Q at Kidbrooke Village, where a range of one to three bedroom apartments are currently available through Shared Ownership. Undergoing immense transformation, Kidbrooke Village is one of the area’s most important regeneration projects and is set to offer 4,800 new homes, shops and leisure facilities. The development is already home to The Village Centre, a doctors’ surgery, pharmacy and a local farmer’s market, whilst other impressive amenities include a new Sainsbury’s, local pub The Depot and Pure Gym. Featuring landscaped gardens and green open spaces, L&Q at Kidbrooke Village is built around Cator Park, a new 20 acre neighbourhood space featuring expansive parkland, footpaths, play areas, and water features. Residents at L&Q at Kidbrooke Village have easy access to an additional 136 acres of open parkland across Greenwich Park and Blackheath Common. Prices start from £95,625 for a 25% share of a one bedroom apartment (FMV: £382,500).
Outside the capital, L&Q at Huntley Wharf is a collection of riverside one and two bedroom Shared Ownership apartments and duplex apartments in the prospering town of Reading. The development will complement the transformation of Reading as an urban hub, providing contemporary riverside apartments to this evolving town. Huntley Wharf will provide a new destination for central Reading featuring a central riverside square with proposed local amenities such as a café, restaurant, a local store, gym, nursery and landscaped open spaces along the river. L&Q at Huntley Wharf is a 10 minute walk to Reading Station with rail services to central London/London Paddington under 25 minutes. The apartments will provide a desirable specification, making it the perfect space for modern day living. Prices start from £71,250 for a 25% share of a one bedroom apartment (FMV: £285,000).
To find out more about Shared Ownership with L&Q come and meet the team at the London Home Show, located on Stand 7.
For more information on L&Q’s latest developments and to explore the housing association’s brand new guide to part-buy, part-rent, ‘Our Complete Guide to Shared Ownership’, visit lqhomes.com
The capital’s no.1 first time buyer event will return to the QEII Centre in Westminster on Saturday 2nd April, 2022. Register for your FREE ticket to attend Share to Buy’s fifteenth exhibition where you can learn about Shared Ownership and Help to Buy, receive financial and legal advice from expert mortgage brokers and solicitors, and attend first time buyer workshops and seminars.