A guide to shared ownership in London

With many everyday Londoners unable to get on the property ladder by conventional means at the moment, more and more middle income buyers are turning their sights to shared ownership to solve their housing needs.

To respond to this growing trend from the new breed of buyer, Notting Hill Home Ownership has set up Home Options, a one-stop-shop advisory and support facility on shared ownership housing.

For first time buyers, purchasing a property can be a daunting experience especially in the current climate, but Home Options has been designed specifically for these buyers, to provide them with the information and support they need to make an informed decision and get on the property ladder through shared ownership.

This dedicated advisory service provides potential purchasers with important information on the whole property buying process, offering one-to-one advice and an information service starting from the viewing process right to completion including all affordability information. Whether it is a 25% or 75% share, staircasing, mortgage and conveyancing information, Home Options is in place to help steer buyers in the right direction.

Mark Vaughan, Director of Home Ownership comments: “As a result of the recession there is a whole new demographic of buyers moving towards shared ownership, yet many are not familiar with the process involved in purchasing a shared ownership home, so it can be rather overwhelming for them. However buyers should not be deterred, there are many ways to take advantage of shared ownership; it’s just about knowing all the options available.

Jusuf Dervovic, the Home Options Advisor for Notting Hill Home Ownership comments: “Many first-time buyers are missing out on realising that there is still an opportunity for them to purchase a home. Our Home Options service helps eliminate the confusion surrounding shared ownership and provides our customers with a free and valuable service which will make owning a home in London easier than ever.”

Hamid Amerinassab, a first-time buyer who recently bought a 75% shared at one of Notting Hill Home Ownership’s properties took advantage of its Home Options service, he commented: “Buying a home takes you through many emotions. It is very exciting and also quite daunting, thinking about whether or not you’re making the right decision. Now I am really satisfied that I own a part of my home. Jusuf was always available to help me with all my enquiries. I couldn’t have done it without him.

Notting Hill Home Ownership has designed the tailor made Home Options package specifically to provide buyers with a detailed insight to the opportunities available to them and make every aspect of the shared ownership buying process as hassle free as possible. By booking an appointment with a specialist Home Options advisor, customers can have all their questions and concerns addressed, be guided through a property purchase plan and have much of the stresses and pressure taken away from them.

Shared ownership is the most affordable and flexible form of low cost home ownership on the market. The scheme offers eligible people the chance to buy between 25%-75% of a property from a housing association and pay a subsidised rent on the remaining share. The beauty of shared ownership is that people can increase the share they own over time, known as staircasing, and ultimately own the property outright. Whatever the situation; Notting Hill Home Ownership’s Home Options service is here to help.

Notting Hill Home Ownership is currently marketing a number of stylish shared ownership properties across the capital including: Bridges Wharf, Battersea; St George Wharf, Vauxhall; New South Quarter, Croydon; Carew Grove, Streatham; Quadrant, Stockwell; Harmony and 661 London Road, Hounslow.

For details about Notting Hill Home Ownership’s Home Options service and shared ownership properties, visit nottinghillhousing.org.uk/homeoptions.