With the capital’s property prices continuing to rise, a recent survey has found that more than one third of buyers would consider purchasing a property with a friend.* Whether it’s to split the mortgage and household costs, or for the social benefits of sharing a space, the demand for part owning a home with a friend is becoming a popular route onto the property ladder.
Providing first time buyers the opportunity to purchase a stylish home in Zone 2 with a friend, Guinness Homes are launching a new collection of 33 two-bedroom Shared Ownership apartments at Leaside Lock on Saturday 21st May. Following a sell-out first phase, this new collection of two-bedroom apartments gives buyers an opportunity to be a part of an exciting new community which is growing in the heart of East London.
Available exclusively through Shared Ownership, first-time buyers can purchase between 25% to 75% of the property’s full market value, paying a mortgage on the share they own and rent on the remaining, unowned share. Purchasers will be eligible for the scheme if both friends’ annual income combined is less than £90,000 a year. Purchasers only require a 5% deposit for the share they purchase, so split between two buyers, a deposit for a home at Leaside Lock could be £3,031.25 per person.
Set on the banks of the River Lea, Leaside Lock in Bromley-By-Bow is a major placemaking project from Guinness Homes, ultimately delivering 965 studios, one, two and three-bedroom homes – with a mix of Shared Ownership, Help-to-Buy and outright sale homes available. The development will wrap around a thriving central piazza, designed to cultivate a sense of community amongst residents. An exciting new hub for young professionals and city workers, there will be a broad range of trendy new facilities on-site – including a café, a health and fitness studio, a gym, a convenience store and co-working space.
Apartments at Leaside Lock are finished to a high specification throughout. Contemporary kitchens are complete with integrated Bosch appliances, while bathrooms and en suites are finished with sleek sanitaryware. Underfloor electric heating is fitted in all apartments, and all residents will have access to a podium garden. A number of blocks will have roof terraces, offering panoramic views across London from all angles.
Residents also benefit from superb transport connections across the capital with Bromley-by-Bow Zone 2 Underground Station just a three-minute walk away, connecting to central London and out towards Stratford on the District Line and Hammersmith and City Line.**
Nearby road links offer direct journeys to London City Airport and out of the capital, while several local shopping and cultural destinations can be reached on foot or bicycle along the river towpath.
Prices start from £112,500 for a 25% share of a two-bedroom apartment (full market value £450,000).
Shared Ownership terms and conditions apply.
Call the sales team on 0208 131 7495 or visit leasidelock.com to register interest.