Information about Affordable Homes

Shared Ownership

Shared Ownership is a Government-funded scheme that gives you the opportunity of owning a home of your own. The scheme is simple, you buy an affordable share ranging from 25% to 75% of the property’s full value. The minimum share available to purchase will vary depending on the development. You will then pay a subsidised rent on the remainder, with an option to purchase further shares at a later date.

To be eligible:

– You must not currently own a home.

– You must have access to savings to cover initial costs.

– Have a household income of less than 90,000 per annum for any property in London (£80,000 outside of London)

– Some homes can only be allocated to people with a local connection to the local authority area in which the property is located or its surrounding boroughs (i.e. live, work or family connection).


Help to Buy

Help to Buy London is the Government-backed scheme that aims to help London home buyers purchase a new-build home with as little as a 5% deposit.

Who is this scheme for?

The London Help to Buy Equity Loan is available to everyone looking to purchase a new build home up to the value of £600,000 within the 32 London boroughs and the City of London. Whether you’re a first time buyer or an existing homeowner who’s looking to move up the property ladder.

How does it work?

The London Help to Buy Equity Loan – The Government will lend you up to 40% of the value of your new build home up to the value of £600,000 through an interest free equity loan for five years. This means you’ll only need to secure a 55% mortgage with a 5% deposit. You won’t be charged loan fees on the 40% loan for the first five years of owning your home.

What next?

If Help to Buy London could help get you moving, book an appointment with one of our sales consultants today.


Shared Equity

Shared Equity is a scheme that works with the purchaser buying a given equity share in a property alongside the aid of a mortgage. While the Government and/or developer own the remaining share, note that the purchaser will not pay rent on it.

Once the property is sold at a later stage, the Government and/or developer will be entitled to receive their share of the value (equity) of the property. Please see below how our example works:

If a property was originally purchased for £125,000 and you initially raised a loan for £93,750 (therefore having a 75% share) then the Government and/or developer would own a 25% of the value of the property.

Sometime later, should the  you wish to sell, and the property was now worth, for example £170,000, then you would receive £127,500 (75%) of the sale price, and the Government and/or developer would be entitled to receive the remaining £42,500 (25%).