Step onto West London’s property ladder with Shared Ownership
Check out five of the best first time buyer homes in the capital
Well known for its leafy streets, green parks, and access to waterways, West London has long been a popular location for Londoners. With the area’s popularity, however, comes its significant price premium, with average two bedroom apartment prices reaching over £730,000. For many first time buyers in the capital, it may feel impossible to step onto the property ladder in such a desirable area.
However, alternative routes to home ownership, such as Shared Ownership, are helping to open up the property market. Typically offering lower deposits and monthly repayments than those on the open market, the scheme is putting West London within reach of the city’s budding buyers.
The part-buy part-rent scheme allows eligible first time buyers to purchase a percentage share of the value of their new home, while paying a subsidised rent on the remaining share. Both the deposit and monthly costs are based on the owned share which means that repayments are often much lower than those traditionally found on the open market.
Showcasing the best in affordable homes, leading Shared Ownership property portal Share to Buy have rounded up five of their top Shared Ownership developments making West London living accessible for first time buyers.
Evolution by Network Homes is a range of studio, one, two, three, and four bedroom apartments in one of the city’s most exciting regeneration areas, Southall. Located moments from the tow paths and parkland of the Grand Union Canal, homes feature open plan living, kitchen, and dining areas, private balconies and spacious bedrooms. Additionally, residents will also have access to a podium level courtyard and communal space. Prices start from £67,500 for a 25% share with a full market value of £270,000.
Padcroft, West Drayton
Conveniently located moments from West Drayton train station, Padcroft is a collection of one, two, and three bedroom apartments from RHP. As standard, each home features a fully fitted kitchen with integrated appliances, carpet or tiling throughout, and a private balcony, or terrace for ground floor apartments. Prices for the last remaining homes at Padcroft start from £94,500 for a 30% share (full market value £315,000).
Williamson Heights, Wembley
Offering first time buyers the opportunity to take a step onto the property ladder in Wembley Park, Williamson Heights is a collection of one, two, and three bedroom Shared Ownership apartments from Peabody. Considerately designed homes offer spacious living areas, modern appliances, and high quality finishing throughout. In addition to private balconies, residents will also have access to a roof top garden and residents’ lounge.
Prices for a one bedroom apartment start from £98,500 for a 25% share (full market value £394,000), two bedroom apartments start from £115,000 for a 25% share (full market value £460,000), and three bedroom homes start from £152,500 for a 25% share (full market value £610,000).
Nova at Queensbury Square, Queensbury
Just a five minute walk from Queensbury underground station, Nova at Queensbury Square is Catalyst’s collection of one, two, and three bedroom Shared Ownership apartments. Thoughtfully designed with an emphasis on energy efficiency, homes at Nova at Queensbury Square combine comfort and function with open floor plans, private outdoor spaces to each home, and premium touches that include recessed lighting and handless kitchen cabinets. Prices for one bedroom apartments start from £132,000 for a 40% share (full market value £330,000), two bedroom apartments start from £169,000 for a 40% share (full market value £422,500), and three bedroom apartments start from £210,000 for a 40% share (full market value £525,000).
Junction West, Southall
In vibrant, up and coming Southall, moments from the station, Junction West by Clarion Housing is a collection of one, two, and three bedroom apartments available through Shared Ownership. High specification apartments include modern kitchens, spacious open living areas, and a private balcony or terrace to every home. At Junction West, prices start from £93,000 for a 30% share for a one bedroom apartment (full market value £310,000).
Information and pricing correct as of 13/11/2020.
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 and Help to Buy via our FAQs and guides.