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NHG Homes – part of Notting Hill Genesis, one of the UK’s leading housing associations – is helping first-time buyers get on the property ladder in London in a more accessible way. 

In recent research conducted by NHG Homes – in partnership with Opinium – four in five London renters said they were optimistic about getting on the property ladder over the coming years.  However, for many, the deposit needed to buy a home on the open market is out of reach as the average deposit held is £22,963.

This challenge is even more prevalent for those buying solo.  Of those surveyed, under a half said they were hoping to purchase a home on their own in the coming years, while a third of those planning to buy with another person said it was because they couldn’t afford to buy alone.

NHG Homes offers homes to buy with Shared Ownership – where buyers part own and part rent a home – giving Londoners the opportunity to put down roots in popular, sought after locations with lower deposits than are required on the open market.  

Srekanth (27), who bought a two-bedroom apartment on his own at NHG Homes’ Lampton Parkside development in 2023, described the scheme as a “blessing”, saying that “without it, I wouldn’t have my own home right now.”  

At Lampton Parkside, estimated monthly costs for a one-bedroom apartment are £1,173 based on purchasing a 25% share, with a 10% deposit of only £8,313. By comparison, purchasing the same property on the open market would require a 10% deposit amount of £33,250. 

With rents in the capital rising at record pace, the monthly costs associated with Shared Ownership are often cheaper than renting in some postcodes.  At The Perfume Factory in North Acton, estimated monthly costs for a one-bedroom home are £1,397 including rent, service charge and mortgage payments, while average rent for a similar property in the same area is £1,650 per month.  

Austin Winton who purchased a 25% share of a two-bedroom flat at The Perfume Factory, commented: “When I was in Clapham, I was stuck in the trap of paying sky high rents every month and not being able to put any money aside to buy. Shared Ownership helped me get my foot on the property ladder.”

With Shared Ownership, NHG Homes is offering Londoners a way to put down roots in the city they love.