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%.
Hurry and get in touch today to ensure you don't miss out - last apartment remaining!
Colindale is bristling with renewed energy. Thanks to a multi-billion pound investment in the area, it’s set to become one of North London’s most desirable destinations. At the forefront of Colindale’s revival is Silverworks by Galliard, a sleek courtyard development of 227 prestigious new homes.
Today, it’s a striking, energy-efficient new landmark for Colindale. Six elegant apartment buildings are set in attractive landscaped gardens. Each spacious, light-filled apartment has a balcony or terrace for laid back lounging, and there’s cycle storage.
Local area information
North West London lets you enjoy both relaxed, village-style living and the buzz of the city. Colindale is in Brent – a cosmopolitan area with lots to do on the doorstep, and easy access to areas such as affluent St John’s Wood, edgy Camden and genteel Hampstead.
Colindale tube station is just a ten minute walk away - from there, the Northern line takes you straight to central London. Alternatively, Hendon train station is just 1.6 miles away, and the current regeneration plan will add even more new routes to the area for resident's convenience.
Min share price from: £112,500 for a 25% share
Full price from: £445,000
Minimum deposit from: £11,500
Monthly rent from: £683
There are 2 available ranging from £112,500 for a 25% share to £116,250 for a 25% share.
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.