Although the latest interest rate rise means that mortgages are now more expensive, owning a place of your own is still often cheaper than renting, particularly when using shared ownership.
This scheme enables people who can’t afford to buy outright to purchase a share in a property and pay rent on the balance to a housing association.
And, starting from just 5% of the share you buy, deposits are much lower too.
Even in London, a five-figure sum can open the door to home ownership, so why not take a look?
L&Q at Beam Park, Rainham
From £63,125 for a 25% share of £255,000
Part of a joint venture between L&Q and Countryside, which will consist of 3,000 homes, new schools, open spaces, a gym, shops and other on-site amenities.
All the one, two and three-bedroom shared ownership homes are less than £100,000, and have either a balcony or terrace and an open-plan kitchen/living room.
Union Walk at the Green Quarter, Southall
From £66,500 for 25% of £266,000
Latimer’s one and two-bedroom apartments are within The Green Quarter regeneration scheme and a five-minute walk from Southall’s Crossrail station.
Each includes a spacious all-in-one kitchen/living/dining area complete with Bosch integrated appliances and opens on to a balcony. Many enjoy views over west London.
Check it out via Junction West.
Challingsworth House, Barking
From £75,000 for 25% of £300,000
Some 56 one and two-bedroom homes with floor-to-ceiling windows, balconies and access to a lift.
Part of the BeFirst regeneration initiative is car-free and a short walk from Barking station.
Electric Quarter, Enfield
From £86,250 for a 30% share of £287,500
Only a few apartments are left in the first phase of this mixed-tenure regeneration scheme, which will deliver 167 homes alongside offices, shops, a nursery and public library.
Each incorporates a sleek open-plan fitted kitchen, big windows and a balcony.
Leaside Lock, Bromley-by-Bow
From £87,500 for a 25% share of £350,000
One and two-bedroom apartments by Guinness Homes, on the banks of the River Lea and only a three-minute walk from Bromley-by-Bow’s Zone 2 Tube station.
Homes feature Bosch integrated kitchen appliances, electric underfloor heating and private balconies with views over the city.
Check it out via Leaside Lock.
Aspect, Croydon
From £88,750 for a 25% share of £355,000
Aspect is a skyline-dominating 26-storey building in the centre of Croydon, entered via an impressive hotel-style lobby with a concierge.
It contains a mix of one, two and three-bedroom apartments, each with a winter garden and full-height windows that let light flood in. East Croydon station and Boxpark – for food and nightlife – are round the corner.
Colindale Gardens, Colindale
From £92,500 for 25% of £370,000
You’ll find these one and two-bedroom shared ownership apartments in Redrow’s flagship development on the site of the former Metropolitan Police training centre.
They include a terrace or balcony, flexible open-plan layouts, big windows and tons of storage and Colindale station, on the Northern line, is directly opposite.
Woolwich Reach, Royal Docks
From £93,750 for a 25% share of £375,000
A roomy, one-bedroom Thames-side pad with a balcony or terrace for under £100k might sound too good to be true but there’s no catch here.
Residents have use of shared communal gardens, and a park is next door. Two and three-bedroom homes are also available.
Arc, Wembley
From £96,875 for a 25% share £387,500
These one and two-bed apartments all include private outside space and are within striking distance of world-famous Wembley Stadium, restaurants, entertainments and bargain shopping at London Designer Outlet.
Priority is given to applicants who live or work in Brent, and they are due to complete this autumn.
Check it out via Network Homes.
Creekside, Deptford
From £97,500 for a 25% share of £390,000
If you’re after a home in an arty, friendly neighbourhood, your search stops here. These one, two and three-bed apartments are in the heart of the London Borough of Culture, with restaurants and galleries.
They’re arranged across two buildings connected by a third floor landscaped garden.
Check it out via Lewisham Homes.
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