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Can I afford to live in London with Shared Ownership?

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Corner Can I afford to live in London with Shared Ownership?

24 August 2016

It’s no secret that house prices in London have been out of many house buyer’s budgets. It was disheartening to read an article claiming that more than four in ten Londoners aged 18 to 40 said they’d be willing to leave the capital in search for a better chance of getting on the housing ladder. Buying a home is becoming increasingly difficult for some and house hunters may not be able to look in the areas that were once their first choice. It is for this reason, I am proud that East Thames offers buyers the flexibility to buy outright, or on a Shared Ownership basis. 

With Shared Ownership, buyers can purchase between 25% and 75% of the property, paying subsidised rent on the remainder. Our residents can then increase their share at any time, all the way up to 100% and outright ownership. This means that, for all those buyers with their hearts set on a London home, they will not have to compromise on location and can continue to enjoy all this amazing city has to offer.

With living in the city comes the fantastic travel connections, our East London based developments are served by a range of facilities to get you from A to B. Our Royal Dock Gardens development is surrounded by bus routes and is nearby to the Emirates Air Line cable car, which takes residents to the Greenwich Peninsula, home to the O2 and Greenwich Ecology Park.

While we’re all enjoying the current Olympics, the buzz from London 2012 still remains in the city. A population boom triggered by the games has shown no signs of slowing down, with most growth being shown in East London boroughs. This has encouraged regeneration programmes, which many developments are benefitting from, meaning that facilities and amenities are going from strength to strength and are within close range to all East Thames residents. Prospect East in Stratford is close by to the Queen Elizabeth Olympic Park, which hosts an array of events throughout the year from music festivals to the UK’s largest urban beach.

Our Foundry Mews and Evesham Court developments in Walthamstow are local to independent cinema, Stow Film Lounge, which screens films in different locations throughout the borough. E17 is growing as a diverse music and arts scene in which residents can take advantage of performances every day of the week across some great venues. Residents that have a passion for fitness should not assume they will have to compromise on scenic walking and running routes being in the city. The River Lea and the beautiful Epping Forest are within such close range our buyers will still get a fresh taste of the countryside.

At East Thames we are focussed on giving buyers what they want. Shared Ownership prevents people from being priced out of their favourite city locations and offers a more affordable option for London living. To find out more about of East London based developments, visit our website.

Tony Harker, Director of Sales & Marketing at East Thames