Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Bow River Village, 1-3 bed homes


Hancock Road, Rainham (London), Tower Hamlets, E3

Shared ownership

Starting prices

25% share from
£90,000
Full price
£360,000
Minimum deposit
£11,625
Monthly rent
£559
Monthly service charge
£152

Overview

Bow River Village by Southern Home Ownership is a selection of one, two and three-bedroom waterfront apartments, available on a Shared Ownership basis.

Feature windows and crisp, clean décor create a harmonious living space that is sleek, light and spacious.

Kitchens offer top name appliances, discreetly tucked away beneath stylish composite stone work surfaces.

Bathrooms are well appointed, with porcelain tiling, modern sanitaryware and gleaming, chrome fixtures. There are ample power points for your computing and eco- features to keep energy bills to the minimum.

 

In order to proceed with your shared ownership purchase, we would need you to complete a basic financial assessment which can be done so online with SOM Mortgages.

 

After completing your financial assessment, log in to your SHO account where you will find your Application Form.

 

Eligibility criteria

To be eligible for a home at Bow River Village, you need to:

  • Have a household income of under £90,000
  • Be unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase.

 

 


Local area information

Bow River Village sits in a perfect spot between the A12 and the quiet River Lea. There are river walks and shared spaces beside the water to give all residents the chance to enjoy this unique location to the full.

This is the perfect place to enjoy a sunny Sunday afternoon, or watch the sun go down after a hard day at work.

The River Lea is London’s second waterway, made famous by the 2012 games, a short distance upriver. The whole of the Lea Valley is filled with open spaces and sports facilities for you to explore.

Bow brings together all that’s exciting and vibrant about modern urban living. From the Columbia Road flower market to the restaurants of Brick Lane, it draws you in with its buzz.

The Roman Road market is the oldest in the country. Victoria Park is one of the finest in London, complete with wide open spaces, ponds and wildlife. You’ll find pop-up bars, restaurants and galleries, cinemas, theatres and performance venues sitting alongside traditional pubs and fish & chip shops.

It’s a great place for jobs too. There’s a real push to turn the area into one of London’s creative hubs with new businesses and opportunities. The whole area is set to be transformed into a connected valley with a mix of dynamic parkland and work spaces.

Bow is the perfect base for enjoying everything that London has to offer. Buses stop nearby. Bromley-by-Bow underground station (Hammersmith & City and District Lines) is 5 minutes’ walk, Bow Road DLR less than 10. From local stations, it’s an easy 15 minute commute to Canary Wharf or the City.


FAQ's

Prices are not available yet for Bow River Village but you can register your interest to be notified when prices become available.

Plot breakdowns are not available yet for Bow River Village but you can register your interest to be notified when prices become available.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Southern Homes
Shared ownership

Starting prices

25% share from
£90,000
Full price
£360,000
Minimum deposit
£11,625
Monthly rent
£559
Monthly service charge
£152