London Homes Available for Just £47,000 Through Shared Ownership
Yes, you read that correctly. It is possible to live luxuriously in London for less than you might imagine. For many aspiring buyers, saving for a first home seems an insurmountable challenge. Nationwide has revealed that a ten percent deposit on an average UK property stands at approximately £23,000. Londoners face an even steeper hurdle, needing to save double that amount. More soberingly, based on setting aside ten percent of average post-tax earnings, it would take them around nine years to accumulate such a sum.
The Shared Ownership Solution
Unless you have immediate access to tens of thousands of pounds, shared ownership presents a viable pathway onto the property ladder. This scheme allows you to purchase a share of a property, typically between 10% and 75%, and pay rent on the remaining portion. Crucially, you only need a deposit for the share you buy, which translates to a small fraction of the full market value. Here is our selection of developments across London where deposits start from less than the cost of a luxury holiday.
SO Resi Oval Village, Kennington SE11
Minimum deposit: £2,350
These studio, one, and two-bedroom flats are situated near the Thames, Kennington Park, and the iconic Kia Oval cricket ground. Three Tube stations are within a ten-minute walk. Homes feature private outdoor space and concierge services. With ten percent shares available, as opposed to the standard 25%, deposits here are among the lowest in London.
- Price example: From £47,000 for 10% of a £470,000 one-bedroom flat.
The Restorey, Park Royal NW10
Minimum deposit: £4,000
This development offers a mix of one, two, and three-bedroom flats and duplexes in Old Oak and Park Royal, London's largest regeneration project since the 2012 Olympics. Set to become a major transport hub, each home boasts full-height windows and a private balcony, terrace, or access to winter gardens, with many enjoying far-reaching views.
- Price example: From £80,000 for 25% of a £320,000 property.
The View at Aspect, Croydon CR0
Minimum deposit: £4,219
True to its name, these one, two, and three-bedroom flats feature impressive views framed by floor-to-ceiling windows. All include open-plan living spaces, sleek kitchens, and dedicated work-from-home areas. East Croydon station is a five-minute walk away, and the Whitgift shopping centre, recently featured in a Taylor Swift music video, is directly across the road.
- Price example: From £84,375 for 25% of a £337,500 property.
Square Roots, Kingston KT1
Minimum deposit: £4,937
Located within walking distance of Kingston town centre, this development offers easy access to retail therapy, riverside restaurants, bars, and entertainment. Close to Norbiton station and Kingston Hospital, it comprises 125 one, two, and three-bedroom flats with private outdoor space and ample bicycle storage.
- Price example: From £98,750 for 25% of a £395,000 property.
Beaufort Park, Colindale NW9
Minimum deposit: £5,031
This scheme includes 46 one and two-bedroom flats with private balconies or terraces in Dace House, part of a large-scale regeneration in a fast-growing neighbourhood. The site features a landscaped park with a central square, play areas, courtyards, and gardens, with shops and eateries conveniently nearby.
- Price example: From £100,625 for 25% of a £402,500 property.
Corner Place, Bethnal Green E2
Minimum deposit: £5,994
Living here places you between Bethnal Green and Spitalfields, with Brick Lane, Spitalfields Market, and Victoria Park all within easy reach. These one and two-bedroom flats come with underfloor heating, private outdoor space, and a communal roof garden on the sixth floor.
- Price example: From £119,875 for 25% of a £479,500 property.
Prime Point, Greenwich SE10
Minimum deposit: £8,600
Located on Greenwich Peninsula, a short stroll from the O2 Arena, this development offers fantastic transport links including the Jubilee line, Uber Boat by Thames Clippers from North Greenwich Pier, and the IFS Cable Car across the river. Studio, one, two, and three-bedroom flats are available, each with a balcony or terrace.
- Price example: From £86,000 for 25% of a £344,000 property.
Southmere, Thamesmead SE2
Minimum deposit: £8,312
These one, two, and three-bedroom flats with balconies are situated in a new lakeside block, just 11 minutes from Canary Wharf via the nearby Elizabeth line station. Residents enjoy access to impressive amenities at no extra cost, including a concierge, lounge, workspaces, bookable meeting rooms, a cinema room, and the option to hire paddleboards, kayaks, or boats on Southmere Lake.
- Price example: From £83,125 for 25% of a property.
Mortgage Advice Partnership
Ready to start your homebuying journey? You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from an award-winning service from the UK's leading mortgage broker, with expert advisors available seven days a week and access to thousands of mortgage deals across the market. Unlike many brokers, L&C does not charge a fee for their advice. The mortgage service is provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). Please note that the FCA does not regulate most Buy to Let mortgages, and your home or property may be repossessed if you do not keep up repayments on your mortgage.
