Shared Ownership Homes For Sale in London September 2017
It’s Shared Ownership week here in London and if you still don’t know what everyone is talking about – hear out the explanation in the video from Notting Hill Sales below.
In short, it’s a Government based scheme that will allow you to buy a share of a home, anywhere between 25-75%, and pay rent for the rest. You will need to pay a deposit (varies but ca 5-10%) for the shares you are buying, plus the costs of buying a home (legal fees, stamp duty, mortgage fees ca £4,000 in September 2017). You can buy out the rest of the shares whenever you want to. It normally takes 4 weeks to exchange the property and then additional 10 days to complete. Of course, if you are buying off-plan, it takes a bit longer. The rent is paid to the housing association who owns the property with you until you do not have 100% of the shares. Make sure you know what the Service Charges (maintenance, building insurance costs) are on the property you are planning to buy, to avoid a costly surprise.
Here are a few Shared Ownership homes offered in London’s New Developments today:
So Resi Battersea in London SW11
Sales: So Resi
Minimum Share: 30%
Types: 1 and 2 bedroom apartments
Prices: £450,000
Castilla in Elephant & Castle, London SE1
Sales: Peabody
Minimum share: To be confirmed (TBC)
Types: 1 and 2 bedroom apartments
Prices: TBC
64 Shared Ownership apartments will launch in autumn 2017.
88 Lampton Road in Hounslow, London W3
Sales: Notting Hill Sales
Types: 1, 2 and 3 bedroom apartments.
Phase 1 will create 160 studios, 1, 2 and 3 bedroom apartments. It is a mix of Shared Ownership and affordable rent apartments. Expected completion in 2018.
Two Fifty One in Elephant & Castle SE1
Sales: Hyde New Homes
Types: 1, 2 and 3 bedroom apartments
Minimum Share: varies, 25% for three bed
Shared Ownership homes are launching 7th October 2017.
Merchants Walk in East London E3
Sales: Peabody
Minimum Share: 25%
Types: 1, 2 and 3 bedroom apartments
Prices: £365,000 – £600,000
Hurry up, 75% of the Shared Ownership homes in Phase 2 have been sold out already! Phases 2 and 3 should complete in November 2017.
Fish Island Village in Hackney Wick, London E3
Sales: Peabody
Minimum Share: NA
Types: 2 and 3 bedroom homes
Prices: NA
New Shared Ownership homes are launching in 2018.
The Gallery in Camberwell, London SE5
Sales: Peabody
Minimum Share: NA
Types: 1 and 2 bedroom apartments
Prices: NA
Launching soon, register with Peabody today!
Castilla in Elephant & Castle, London SE18
Sales: Peabody
Minimum Share: TBA
Types: 1 and 2 bedroom apartments
Prices: TBA
Launching in 2017 and completing in Spring 2018, there will be 64 one and two bedroom apartments will be available for sale through Shared Ownership.
The Cut in Rotherhithe, London SE16
Sales: Hyde New Homes
Minimum Share: 25%
Types: 1 and 2 bedroom apartments
Prices: from £420,000.
Quiet residential area on the banks of the river Thames.
West View Battersea @ Vista in Battersea, London
Sales: Peabody
Minimum Share: TBA
Types: 1 and 2 bedroom apartments
Prices: TBA
54 one- and two-bedroom Shard Ownership flats are launching early 2018. Register your interest now!
Wing in Camberwell SE5
Sales: Hyde New Homes
Minimum Share: TBA
Types: 1, 2, 3 and 4 bedroom apartments
Prices: TBA
The development is completing in 2018. Shared Ownership apartments are launching soon, register your interest now!
Alder Grove in Harrow, London HA1
Sales: Notting Hill Sales
Types: 1 & 2 bedroom apartments and 3 bedroom houses
Completing in 2017, the development comprises 1 & 2 bedroom apartments and 3 bedroom houses in Harrow, London HA1.
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Double check the details with the sales representatives as these are subject to change.
For the apartments that have not launched yet – do not wait until they do – register your interest with the sales team today!
See also: Buildington’s full list of New Developments in London (850+ projects) and the Top #100 Trending today
