Shared Ownership
in London
Shared ownership schemes in London enable you to buy a portion of a London property, with the remainder being owned usually by a London based housing association. You wil have to pay rent on the remaining portion. Shared Ownership could be your best bet to get on the ladder
shared ownership properties in London as well as other areas are sold as leasehold properties on shared ownership terms – these properties can be either houses or apartments or flats. The minimum percentage you can purchase is 25%, and 75% is usually the maximum. You will need to be able to obtain a mortgage for the share you want to buy, and you will pay rent on the share you don’t own. Rents under shared ownership schemes are calculated to be affordable.
As your finances permits, you can purchase more shares until you own the entire 100% of the London property. This process is known as ‘staircasing’.
Housing Associations have a number of properties available for sale under shared ownership or part rent part buy schemes.
for more details on Shared Ownership in London
visit the shared ownership website www.sharedownership.ws
www.ontheladder.net to download and electronic version of the leading shared ownership magazine.
www.onthepropertyladder.com is London's leading property search