London’s property has long been a dream for aspiring homeowners, but the challenges of high property prices and hefty deposits have made it seem out of reach for many. However, there’s a glimmer of hope on the horizon for first-time buyers with the launch of the shared ownership homes at Union Walk in Southall. Developed by Latimer, the development arm of not-for-profit Clarion Housing Group, these apartments offer an affordable and accessible pathway to homeownership. In this article, we will explore the benefits of shared ownership, the allure of living in Southall’s vibrant community, and the exciting prospects that Union Walk has to offer.
Shared Ownership: Opening Doors to Homeownership
The prospect of buying a house in London can be daunting, especially for first-time buyers. However, shared ownership provides a practical solution by allowing purchasers to buy a percentage share of a property while paying rent on the remaining portion. At Union Walk, buyers have the opportunity to secure a 25% share in a home with a full market value of £335,000. With a minimal deposit requirement of just 5%, as low as £4,188, the barriers to homeownership are significantly reduced compared to purchasing outright. Additionally, shared ownership buyers at Union Walk can benefit from an additional boost of up to £4,000 towards their new home, further easing the financial burden.
The Rising Popularity of Shared Ownership
The end of the Government’s Help to Buy scheme in 2022 has led to a notable shift in the London property market, with shared ownership emerging as an attractive alternative for first-time buyers. Latimer has witnessed a significant increase in the number of first-time buyers opting for shared ownership, representing 70% of their buyers during the start of 2023, compared to less than 30% in 2021. The scheme provides a viable avenue for those seeking to exit the rental sector and gain a foothold on the property ladder. With shared ownership, individuals and families can experience the pride of homeownership and the stability it brings.
Living in Southall: A Community of Promise
Nestled in the London Borough of Ealing, Southall offers a thriving community and a rich cultural tapestry. Union Walk, located moments away from Southall tube station, provides residents with excellent connectivity through the Elizabeth line, ensuring swift commutes to central London, with Bond Street just 18 minutes away. The area is undergoing an extensive regeneration program, transforming it into a buzzing community with a focus on nature and green spaces. The Green Quarter, featuring tree-lined avenues, abundant greenery, and communal gardens, enhances the overall well-being and biodiversity of the area. Living in Southall means enjoying the perfect blend of urban convenience and natural tranquility.
Union Walk: Where Modern Living Meets Affordable Luxury:
The apartments at Union Walk are meticulously designed to offer modern-day living at its finest. With impeccable finishes and open-plan living areas, these homes exude comfort and functionality. Stylish kitchens, complete with integrated appliances, cater to the needs of discerning residents. Each apartment boasts a private balcony, inviting residents to savor outdoor living and breathtaking views. Prices at Union Walk start from £83,750 for a 25% share, making it an attractive option for those seeking affordable luxury in London.
The shared ownership apartments at Union Walk in Southall present a golden opportunity for aspiring homeowners to make their dreams of London living a reality. With reduced deposit requirements, financial assistance, and access to a vibrant community undergoing regeneration, Union Walk offers the perfect blend of affordability, convenience, and quality. Let this be your stepping stone into the captivating world of London’s real estate. Take the first exciting stride towards homeownership at Union Walk, where the vision of a brighter future becomes a beautiful reality.
