It’s good to share

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The Village Bakery, Walthamstow Village

For so many, getting a foot well and truly on the property ladder seems impossible. Nearly every single person I know who has managed to buy a home, has had financial help from somewhere, usually an older family member or through inheritance.

So often though, this just isn’t an option and trying to raise funds to buy a flat or a house anywhere in the UK, let alone London, can feel like an insurmountable challenge.

When it comes to property, I am always keeping my ear to the ground for friends and family – peering into estate agent’s windows and even flyering an area in the hope that someone would be willing to sell directly at a reduced rate… And since I moved to Walthamstow last year (and falling head over heels with the area in the process) I’ve been trying to convince everyone I know and love to move here too!

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Buhler & Co, Walthamstow

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Avocado on toast at Buhler & Co

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Walthamstow Village

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Debbie Bliss Home, Walthamstow

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Perky Blenders, Walthamstow

I’ve been on the hunt for other cheaper buying solutions…and that’s when I started learning about L&Q’s Shared Ownership.

And I think it’s brilliant.

Shared Ownership is a home ownership scheme designed as a stepping-stone to owning your home outright if you can’t afford to buy on the open market (do I sound like a pro yet?) by yourself. Have a look at this video to get a bit more of a feel for it – you may recognise Sally as yourself, or someone you know…

(The above video is by L&Q’s PricedIn campaign)

How does it work? (Don’t panic – I am going to keep this super un-jargonny. It’s easy. It’s just like shopping).

Under a Shared Ownership scheme you simultaneously part-own and part-rent your home – you are an ‘owner-occupier’.  With an L&Q Shared Ownership property you would start off by buying a share of your new home (minimum 25%, maximum 75%) on a leased property.

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Froth & Rind, Walthamstow Village

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‘The Ancient House’, Walthamstow Village

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Queen’s Arms, Walthamstow

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Blomst Flower Subscriptions, Walthamstow

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Wild Card Brewery, Walthamstow

You pay a mortgage on the part you own and a subsidised rent on the part you don’t own… and then (and this is the good bit) as your income rises, you can increase the share you own until you eventually own 100% and no longer pay any rent at all. Kaboom.

This last bit is called ‘Staircasing’ and I love this visual – one step at a time.

I am VERY excited as one of L&Q’s Shared Ownership schemes, Stadium Place, is actually in Walthamstow, meaning that the opportunity to live in one of my favourite parts of London is available to many, many more London lovin folk…

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Mother’s Ruin, Walthamstow

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Have your milk delivered to your door in Walthamstow, with Parker Dairies!

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The Nag’s Head, Walthamstow

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Snapped at The Walthamstow Village Market

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Incoming Coffee, Walthamstow

There are new L&Q homes all over London and the South East, so if I haven’t won you over with my pictures of my beloved Walthamstow, I’m sure you’ll find a spot that fills your little heart with joy.

You’ll be hanging up your ‘Home Sweet Home’ sign before you know it.

www.lqpricedin.co.uk


 

This post is sponsored by L&Q and all thoughts and opinions are my own.

 


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