Clawing a deposit together is often the toughest challenge for anyone aspiring to home ownership.
But shared ownership offers a lifeline, as a deposit is only required for the share you buy, rather than for the full market value, meaning you need far less saved up.
First time buyers in the capital currently stump up an average of £108,848, – an insurmountable sum for most on the average salary of £43,628.
In these London developments however, down payments start from just £3,406, making the property ladder a far less distant dream.
Barking Riverside, Barking
Minimum deposit: £3,406
Ready to start your homebuying journey?
You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from:
– Award winning service from the UK’s leading mortgage broker
– Expert advisors on hand 7 days a week
– Access to 1000s of mortgage deals from across the market
Unlike many mortgage brokers, L&C won’t charge you a fee for their advice.
Find out how much you could borrow online
Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
From £68,125 for 25% of £272,500.
A range of one and two-bedroom flats with private outside space, in a new neighbourhood next to the Thames that will eventually comprise over 10,000 homes.
Facilities include a gym, co-working space and concierge service, while five schools are in the vicinity with two more to come.
Residents commute via the Suffragette line or take the river bus into central London.
For more information, visit L&Q Homes.
West Acre Square, Southall
Minimum deposit: £3,937
From £78,750 for 25% of £315,000.
These homes are within the Green Quarter, one of the country’s most biodiverse developments.
Half the site is green space and there’s a café, ceramics studio, play area, padel club and more at community hub Parkside Yards.
Southall station, for the Elizabeth line, is also just a 10-minute walk away.
For more information, visit Southern Housing New Homes.
Royal Albert Wharf, Royal Docks
Minimum deposit: £4,188
From £83,750 for 25% of £335,000.
The final one and two-bed flats in a riverside scheme moments from Gallions Reach DLR station.
All come with a balcony, wood flooring and stone kitchen worktops plus access to concierge, communal lounge and workspaces.
Cafés and parks are close by, while a monthly arts, crafts and food market takes place on-site.
For more information, visit NHG Homes.
The One Hundred, Alperton
Minimum deposit: £4,250
From £85,000 for 25% of £340,000.
You don’t always have to pay premium prices to live by the water, as demonstrated by these one, two and three-bedroom flats, which are beside a peaceful stretch of the Grand Union Canal.
Each has a balcony or terrace and a fully integrated kitchen fitted with an induction hob, plus there’s a residents’ roof terrace.
Alperton and Stonebridge Park stations are within walking distance.
For more information, visit Guinness Homes
Beaufort Park, Colindale
Minimum deposit: £4,937
From £98,750 for 25% of £395,000.
Dace House, comprising 46 one and two-bed flats, is part of a now-completed major regeneration scheme a few minutes’ walk from Colindale’s Northern line station.
The site features a landscaped park with a central square, play areas, continental-style courtyards and manicured gardens, with restaurants, bars and a nursery on the doorstep.
For more information, visit Places For People
The Perfume Factory, Acton
Minimum deposit: £5,125
From £102,500 for 25% of £410,000.
Up to £5,000 cashback is up for grabs when reserving one of the last remaining one-bed apartments here, as long as contracts are exchanged within 28 days.
London’s largest shopping complex, Westfield London, in White City, is only two stops from nearby North Acton station.
For more information visit: NHG Homes
Parkside Triangle
Minimum deposit: £8,125
Waddon CR0
From £81,250 for 25% of £325,000
Some 70 homes – one and two-bedroom flats and three-bedroom maisonettes and townhouses with balconies, patios or gardens – have just been launched.
Waddon is an under-the-radar suburb with lots to offer, such as parks, a leisure centre, independent coffee shops, Ofsted-rated outstanding and good schools and fast trains to Victoria and London Bridge.
For more information visit: Hyde New Homes
Nexus
Minimum deposit: £8,850
Enfield EN3
From £88,500 for 30% of £295,000
If you want to live in a well-connected spot with nature on your doorstep, take your pick from these one and two-bedroom flats.
Ponders End station, which has services to Liverpool Street, is a two-minute walk, National Cycle Route 1 runs behind the development and you can unwind after work in a waterfront pub along the Lee Navigation river – or on your own private balcony.
For more information, visit Newlon Living.
L&Q at Kidbrooke Village, Greenwich
Minimum deposit: £9,688
From £96,875 for a 25% share of £387,500.
One, two and three-bedroom flats in a pet-friendly community where 4,800 homes are being built.
They feature large windows, fully integrated kitchens and balconies.
London Living Rent homes – offered at a discount so that tenants can save towards a deposit and eventually buy through shared ownership – are available.
For more information, visit L&Q Homes.
West Ham Village, West Ham
Minimum deposit: £9,875
From £98,750 for 25% of £395,000.
The first homes in inaugural phase Cherry Point, part of the wider Twelves Trees development, will be ready to move into this summer.
It’s one stop on the Jubilee line from Stratford and also on the DLR and Fenchurch Street route.
For more information, visit Peabody New Homes.
Interested in shared ownership?
Head to the London Home Show to learn all about shared ownership and explore other home-buying options.
You’ll be able to explore the latest developments and talk to property experts, mortgage brokers and solicitors. You can get tailored financial and legal advice and have all your questions answered.
The show takes place at the Queen Elizabeth II Centre, Westminster, SW1P 3EE, on Saturday April 26, 10am- 5pm. Register in advance for a free ticket here.
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