Flying solo: stepping onto the London property ladder on your own with L&Q
For many Londoners, setting out to buy a home on your own can be daunting. The challenge of
raising a substantial deposit to buy on the open market can make home ownership feel out of reach
for solo buyers.
Shared Ownership can offer those looking to go it alone a viable route onto the property ladder.
What’s more, you can have an income of up to £90,000 in the capital and still qualify for the scheme.
Under the Government-backed Shared Ownership scheme, you part-own and part-rent your home,
making it possible for solo home hunters to get on the property ladder – and often in a location that
would otherwise be out of reach.
There’s plenty of common misconceptions about Shared Ownership, but it’s not just for key workers
and you won’t need to share a home with anyone else. Eligible applicants need to be aged 18 or
older, have a household income of less than £90,000 per annum when buying in the capital and fit
within one of these three groups:
- First-time buyers.
- People who have previously bought a home but can’t afford to buy one now.
- Existing Shared Owners who want to move.
Adam now owns a 25% share of a two-bedroom, two-bathroom apartment at L&Q at Western
Circus, a collection of one- and two- bedroom Shared Ownership homes in the heart of one of West
London’s most up-and-coming districts, Acton.
Looking to the future, Adam touches upon his plans to staircase, saying “I’d absolutely love to own
100% in the future. I know that I’ll get three opportunities to staircase and I’m already saving
towards my next step. More ownership is the end goal, and I’m really looking forward to doing so.”
To find out more about Shared Ownership with L&Q and view developments from Greenwich to
Haringey and City-commutable Cambridge visit: lqhomes.com