Home builders Latimer, part of housing association Clarion Housing Group is offering buyers of its new homes at Union Walk in Southall up to £4,000 towards the cost of the property along with the opportunity to purchase it on a shared ownership basis.
Prices start from £83,750 for a 25% share of a home with a full market value of £335,000 with a 5% deposit of £4,188.
Union Walk is within The Green Quarter housing development in Southall which was built on land that was once Southall Gasworks.
Paul Walker, national sales director at Latimer by Clarion Housing Group told EALING.NEWS: “For today’s average first-time buyer, the journey to home ownership feels like a very steep climb. A major benefit of shared ownership is the low deposit requirement. Many aspiring buyers find saving towards a deposit a hurdle in the current economic climate, with their capacity to save squeezed by increasing rents and the cost-of-living crisis.”
Mr Walker added: “However, purchasing a shared ownership home with Latimer requires just a 5% deposit for a share of the full price of the home, and if we can assist them in “boosting” this, it helps to make the purchase even more affordable. As well as being more achievable, monthly outgoings are more sustainable. Owning a share of the property lessens the impact of the current high mortgage interest rates, which those buying privately are forced to navigate.”
