Shared Ownership Week returns for 2022, from 5th - 12th October with the aim to raise awareness and promote Shared Ownership across London. With events and articles available throughout the week covering topics such as: What is Shared Ownership? What are the costs? Answers to the most FAQ and case studies.
Shared Ownership has been a popular option for those who want to step onto the property ladder and has helped bridge the affordability gap. The aim of Shared Ownership Week and the work Red Loft and many other local authorities and housing associations do is to educate people about the benefits of Shared Ownership and eliminate the myths that surround it.
What is Shared Ownership? If you cannot afford the full mortgage for a property Shared Ownership allows you to buy a share of the property (between 25% and 75% of its value) and you pay rent on the remaining percentage share you don’t buy. The deposit needed for your mortgage is a percentage based on the share you are buying, rather than the full value of the property, making it easier to get on the property ladder.
Below are some brilliant examples of Shared Ownership in full force at some of our developments:
Jazz Yard, Walthamstow is a new development in the heart of Walthamstow offering purchasers the chance of buy a 25% share of a one-bedroom apartment with a 5% deposit as low as £5,063 which is £15,000 less than a 5% deposit on the full market value (£405,000). Jazz Yard is part of a vibrant new neighbourhood offering one and two-bedroom apartments for sale, complete with a health centre on the ground floor. Click the image below to register your interest:
Challingsworth House is part of the wider regeneration initiative and is a collection of 56 Shared Ownership apartments. At Challingsworth House you can purchase a property between 25% - 75% share and your monthly outgoings could be as low as £943 per month for your mortgage, rent and service charge*. Situated in an excellent town centre location, and just 0.2 miles from Barking station, Challingsworth House benefits from great transport links into London via the underground and overground. Click the image below to register your interest:
Orchard Wharf is a development of 338 homes and 43 Shared Ownership apartments which are ready to move into. At Orchard Wharf, you can put down of a 5% deposit of £5,088 and own a 25% share in a one-bedroom apartment at this exciting new development with high specification throughout, stunning views from selected apartment and a prime location. Click the image below to register your interest:
Red Loft work as an agent for a wide range of housing associations and local authorities to provide sales & marketing services which means we have a wide range of Shared Ownership homes available across London.
For more information on our Shared Ownership homes you can view by clicking here or contact us on 0207 539 3745 or email [email protected].
*Based on a one-bedroom apartment at a 25% share, rent calculated at 2.75%, excluding utilities and council tax, mortgage calculated at 3.5% over a 30 year term.