RHP: Tired of renting? Here’s why Shared Ownership could be perfect for you!

With the average rental rate due to go up 15% over the next three years (source: Moneywise, 2019) there’s never been a better time to get onto the property ladder. We all know though that’s easier said than done, especially within London, due to high house and deposit prices. This is the beauty of Shared Ownership as it allows buyers to purchase a share of the home that is most affordable to them.

It might be that you don’t know much about Shared Ownership or perhaps this is your first time hearing about it. If you’re a renter here are our top three reasons why Shared Ownership might be your perfect next move and our special offers exclusive for you to help lighten the load:

1. Houston, we have a solution

Hundreds of thousands of people have benefited from Shared Ownership over the past 40 years. Shared Ownership is a government-backed product and is a great solution for people who want to get their foot on the property ladder but might be finding it difficult to save for a lofty deposit. The ‘Shared’ part means that you part own your property and part rent the home from the housing provider (in this case that would be RHP). Fortunately, the ‘Shared’ element doesn’t mean you’re sharing the property with others – meaning your housemate nicking all of your milk and the 20-minute wait for the morning shower can finally be a thing of the past.

2. Deposits that open doors rather than slams them

With the average London rental deposit being £3,000 (source: Letting Agent Today, 2019), a deposit for a Shared Ownership home is often not that much more than this. This is because your deposit is typically 5% of the minimum share of the home itself. With the usual deposit for a purchased home being 10% of the overall price of the home this makes a massive difference in terms of affordability.

3. Make it your own

Sometimes the ‘dos & don’ts’ of landlords can rival a good novel in terms of how long they go on for! This limits you in what you can do within your home, meaning you can’t put the personal touches in there that makes a house a home. With a Shared Ownership home, you’re free to do all the things you’d like to do to customise your home to your taste. From putting up your pictures through to painting a statement wall, let your imagination run wild.

So, now you know more about how it works, ‘what do you have on offer and how can you lend a hand?’ we hear you ask. Well, let’s take a look:

Middlesex Court & Rhodes Court

External CGI of Middlesex Court & Rhodes Court

The lowdown

Situated next to one another, Middlesex Court & Rhodes Court both offer an attractive selection of spacious one, two and three bedroom apartments based in Hounslow. Offering a modern converted office block and newly built apartments to provide a visually striking place to live. Some come with parking.

The cost

Prices from £114,000 for a 40% share. Shared Ownership rent and other fees apply.

The helping hand

Incentives available on selected plots.

Longview Court

External CGI of Longview Court

The lowdown

A stylish collection of one, two and three bedroom apartments Longview Court is set in a great location with Bedfont Lakes Country Park within easy reach. Feltham is perfectly placed for commuting and with the future arrival of Crossrail this will create new links into central London and further afield. The High Street has much to offer with an array of independent shops and renowned brands to enjoy.

The cost

One beds from £92,000, two beds from £110,000 and three beds from £138,000, all for a 40% share. Shared Ownership rent and other fees apply.

The helping hand

Incentives available on selected plots.

If you’d like to take a look at Middlesex Court & Rhodes Court please contact our friends at Red Loft on 020 7729 0450 or email rhp@redloft.co.uk. If you’d like to take a look at Longview Court then please contact our friends at Complete Moves at info@complete-moves.co.uk or call 020 3640 7111.

To see more about what we’re all about at RHP, watch our short film, Connect with Home, which features a few of our customers, some of which live in our Shared Ownership homes.