Shared Ownership homes in East London
Many first time buyers worry about affordability when thinking about starting their home owner journey and getting on the property ladder. However, Shared Ownership homes make it possible for those buying their first home to take the first step to owning their very own property.
What is Shared Ownership?
Shared Ownership makes it possible to buy a property that otherwise would not have been affordable.
- It is a government-backed scheme for people who are unable to afford to buy a home at full market value (household income limits apply).
- It is a part buy/part rent scheme. You buy a share in the property and pay rent on the share you don’t own.
- It is a low-cost home ownership product launched by the government in April 2006 under the HomeBuy brand.
- You can usually buy an initial share of 25% to 75% of the value of a property, and you’ll need to take out a mortgage to pay for your share of the home’s purchase price. You will then pay a subsidised rent on the share you don’t buy.
Part Buy Part Rent Properties in East London
Deciding exactly where to buy in London can be another obstacle many first time buyers face when thinking about making such an important investment. Shared Ownership is a great way to help you set up home and be part of a buzzing new community in east London.
East London provides an exciting area that contains some great property hotspots. Buying Shared Ownership homes in Waltham Forest and Newham offer a bustling, up-and-coming neighbourhood of the east side of London, with many shops, restaurants and facilities to choose from. East London's proximity to Central London and vibrant nightlife, shopping and entertainment scenes, continue to evoke high demand among buyers.
Shared Ownership homes such as our vibrant collection of 2 & 3 bedroom homes at Motion, E10, is a stones throw from Canary Wharf, minutes from Stratford’s vast Westfield shopping centre and only a short journey away from Liverpool Street and the heart of the City. East London is a great option for your commute to work. Whether you want to relax, commute, enjoy London’s nightlife or shop in nearby shopping centres, you’ll soon find that living in East London provides the perfect middle ground.
Relax in East London's Green Spaces
If you enjoy the outdoors, local parks in East London are exceptional. Queen Elizabeth Olympic Park is a particular jewel, with 560 acres to explore and in close proximity to another of our Shared Ownership developments at Stonelea Gardens, in Waltham Forest. You’ll find parklands, cafés, 6km of waterways and attractions that include world class sporting facilities and the ArcelorMittal Orbit, where you can enjoy London’s skyline from 114.5 metres in the sky – aswell as whizzing down the world’s longest tunnel slide or experiencing the UK’s highest freefall abseil.
There’s even more nature to explore at nearby Wanstead Flats and Hackney Marshes, but when you want to change the pace you’ll have all the vibrant bars, and attractions of Stratford on your doorstep. And when nothing but the sights and buzz of central London will do, you’ll only be a short trip away – especially when the Elizabeth Line (Crossrail) comes to nearby Maryland Station.
And if you need even more access to green spaces, owning a Shared Ownership home in East London gives you an opportunity to enjoy the large area of open grassland at the south of Epping Forest that’s perfect for walking, picnics and enjoying nature.
Enjoy a cosmopolitan life of colour in East London
East London is known for being a vibrant, and colourful area packed with various places to eat offering a wide range of restaurants. If you love food, there’s a glittering array of world cuisines to choose from, offering great flavours to eat there or take away, such as Mora in Leytonstone serving fresh Sardinian dishes. The New Spitalfields Market is an unmissable spectacle – it’s the UK’s premier wholesale fruit, vegetable and flower market and it’s open throughout the night.
Be a part of a neighbourhood that has a new-found sense of pride and community. Lots of new, independent shops and boutiques, alongside family-orientated restaurants and cafés give East London an increasingly stylish vibe.
Discover how Josephine found her East London home through Shared Ownership.