Shared Ownership: London’s highest-rated developments

The Shared Ownership scheme has been instrumental in helping people on low incomes or with little savings to buy their own home. But what are the best Shared Ownership developments across London? Verified reviews from Shared Owners on HomeViews reveal the capital’s best properties for the scheme.

What is Shared Ownership?

The UK Government launched the Shared Ownership scheme in 2016. Since then, more than 200,000 households have used the scheme to buy their own home. Shared Ownership allows the buyer to purchase between 10 and 75 per cent of a home’s full market value, using a standard combination of deposit and mortgage.

You pay rent to a landlord for the portion of the property you don’t yet own. You can, however, steadily increase your ownership stake by buying more shares in the property over time. This process is called staircasing.

Shared Ownership London: Top developments according to residents

Let’s take a look at London’s top 10 Shared Ownership developments. These rankings are based on the reviews of Verified Residents who bought their homes using the Shared Ownership scheme. As such, you can be sure the rankings are impartial and free from bias.

The developments in the list met a minimum threshold of at least 10 verified resident reviews. This is the case for all except our 10th entry, which sneaked into the list with nine reviews.

Royal Arsenal Riverside is a beautiful riverside neighbourhood. It offers one, two and three bedroom apartments.   Additionally, residents benefit from the convenient transport links. These include: National Rail, DLR and on-site Thames Clipper. Also, residents have access to a gym, swimming pool and a concierge. Read reviews and details of Royal Arsenal Riverside, SE18

Barratt London‘s Upton Gardens is situated in the heart of East London. There are 842 homes onsite. There is a mix of one, two and three-bedroom apartments. Additionally, the development features open green spaces, rooftop terraces, landscaped walkways and public art. Located in Zone 3, Upton Gardens is within a 6-minute walk of Upton Park tube. […] Read reviews and details of Upton Gardens, E13

North London’s Woodberry Down is located in the London Borough of Hackney, only moments from Finsbury Park.  Once complete, it will feature over 5,500 new homes set in 64 across acres. Woodberry Down by Berkeley Homes features a range of one, two and three-bedroom apartments as well as 3-4 bedroom Townhouses. Additionally, it is located  […] Read reviews and details of Woodberry Down, N4

Fortescue Gardens is a residential development by Clarion, situated in London’s south west area of Merton and adjacent to the Myrna Close Nature Reserve. Read reviews and details of Fortescue Gardens, SW19

Acton Works by Network Homes sits in Park Royal. Network Homes have 73 one and two bedroom apartments available as Shared Ownership. Residents benefit from communal and rooftop gardens at Acton Works. Additionally, there is cycle storage on site. Located within walking distance of Harlesden, North Acton and Park Royal Underground Stations, Acton Works benefits […] Read reviews and details of Acton Works, NW10

L&Q at Elephant Park is located in Elephant & Castle. A key part of the area’s extensive regeneration, Elephant Park offers buyers a range of stylish one or two bedroom Shared Ownership apartments, starting from a 25% share. In addition, residents benefit from nearby green spaces that include central London’s largest new park in 70 […] Read reviews and details of L&Q at Elephant Park Shared Ownership, SE17

L&Q at Oaklands Hamlet sits in Chigwell. L&Q have a range of Shared Ownership 2, 3 & 5-bed homes at Oakland Hamlets. In addition, residents benefit from parkland, and easy access into London, the nearest station being Hainault, only 2.3 miles away.  As well as this the development is surrounded by 53 acres of countryside […] Read reviews and details of L&Q at Oaklands Hamlet Shared Ownership, IG7

Acton Gardens is located in Acton, with Chiswick and Gunnersbury on its doorstep. In addition, the development benefits from being only a 2-minute walk from Acton Town station. This provides access to the Piccadilly and District lines. Also, it is just 10-minutes from the popular Gunnersbury Park. Read reviews and details of L&Q at Acton Gardens Shared Ownership, W3

Printworks apartments is a development offering one and two bedroom apartments under Shared Ownership. It is close to local amenities including Neasden Parade with local shops and cafes, and a gym. Also, it is 19 minute walk from Neasden Station. Read reviews and details of Printworks Apartments, NW10

Peckham Place, by Notting Hill Genesis, sits on Queen’s Road, Peckham. Comprising one, two and three-bedroom homes, residents here benefit from communal gardens, private balconies and great transport links. As well as this, the development is near to the bustling high street filled with shops, cafés and roof top bars.

Read reviews and details of Peckham Place, SE15

What types of properties are available through Shared Ownership?

There are some restrictions to the type of property you can buy through Shared Ownership. Shared Ownership landlords are typically housing associations or local councils. The properties tend to be new builds, and all Shared Ownership houses and apartments are leasehold properties.

You can find some existing Shared Ownership properties available to buy through a resale scheme. Additionally, if you have specific needs or a long-term disability, there are some concessions to the properties you can buy.

Shared Ownership advantages

Shared Ownership provides a great opportunity to buy your own home, even if you have a low income or very little savings. If you crave the security of home ownership over renting, Shared Ownership could help you to get started.

You can buy a Shared Ownership property with a far lower deposit than if you were buying a traditional property. It’s significantly easier to secure a mortgage for a Shared Ownership purchase. You can also sell your share in the property back to your landlord at any time.

Disadvantages of Shared Ownership

The main disadvantage of Shared Ownership is that you have to pay rent to the landlord for the portion of the property that you don’t own. Additionally, Shared Ownership properties are all leaseholds. This can make reselling awkward if the lease has a short period remaining on it.

You’re also responsible for paying all the charges that homeowners traditionally pay. These include utility bills, ground rent, service charges and council tax. The landlord might cover some of these charges in a traditional rental scenario.

Do you want to explore London’s Shared Ownership developments in more detail? You can browse the best new build property developments across the capital by clicking on our guides menu at the top of this page. From there, you can select which part of London to explore, and find the best new homes in each area.

HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.

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