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)

Ilford Works, 1 bed homes


Ilford, Redbridge, IG1 2ZR

Shared ownership

Starting prices

35% share from
£87,500
Full price
£250,000
Monthly service charge
£142

Overview

 

Visit the links below for an interactive tour of the apartments:

Album Spec Apartments - 360 tour

 

Slate Spec Apartments - 360 tour

 

About Ilford Works

The new Ilford Works development is perfectly located to match your contemporary lifestyle with a handy local shopping centre in one direction and open fields in the other, in a buzzing part of London just minutes from the City and West End.

Apartments are beautifully designed with fully fitted kitchen, generously proportioned, open plan living areas and an eye-catching bathroom equipped with the latest units. This is the perfect opportunity to get onto the housing ladder, owning a home to be proud of.

The property is conveniently located just minutes from Ilford train station, which provides fast travel connections into Liverpool Street and the West End. The north circular is also close by, which links residents to the M1, M11, M2 and M20. Most impressively, Crossrail is scheduled to launch at Ilford, offering speedy connections into the Capital. 

 

Eligibility criteria

To be eligible for a Shared Ownership home at Ilford Works, you will need to:

  • Have a gross household income of no more than £90,000 per annum.
  • Be unable to purchase a suitable home to meet your housing needs on the open market.
  • Not already own a home or you will have sold your current home before you purchase

 

If you are interested to see more, the next steps are:

 

1.       Check Eligibility Criteria above

2.       Register your interest

After you register on this page a member of the sales team will be in touch within 48 hours.

3.       After registering your interest, you will have an account area on this website, where you can access and complete the Application Form

4.       In order to proceed with a shared ownership purchase, we need you to complete a basic online financial assessment with the Financial Advisor. To complete your Financial Assessment online for Ilford Works with Censeo Financial click HERE

5.       Book a viewing

Once the Financial Advisor has confirmed your affordability, and you’ve reviewed the floorplans and virtual tours, you’ll be able to make an online booking for a viewing in-person or call us to book a personal video tour with one of our helpful Sales Team Consultants.

 

 

 


Local area information

Ilford Film is an iconic name in photography and their famous old factory was once located just down the road from your new apartment.  You will be living on the actual site of a former music company. A hundred years ago, TV technology was pioneered nearby.

 

Today, the area is thriving more than ever. A massive new development is bringing new homes, pedestrianized shopping areas, cycle lanes and green spaces to the area. The arrival of Crossrail is another great boost and the nearest station is a few minutes’ walk from your front door.

 

From your front door, it’s just a short walk to Ilford’s Exchange shopping center and the local Sainsbury's is even nearer. There are bars, pubs and clubs within walking distance too, together with a multi-screen cinema.

Whether you’re after a traditional East End pie and mash or the latest in Asian fusion foods, you’ll be spoilt for choice. This is a part of London that takes food seriously.

Ilford isn’t just about urban living. There are green spaces nearby and even a local golf course.

Ilford rail station is close by with its regular services into Liverpool Street and there are excellent local bus services too. But most importantly, Crossrail changes everything.

Crossrail is your smooth, easy link to Canary Wharf and the City. It will whisk you to the West End in minutes and even open up access to the towns of the Thames Valley and Heathrow Airport.

For road journeys, the North Circular is handy, linking you up with the M1, M11, M2 and M20. There is also a growing network of cycle lanes. 

Whether your journey is long or short, Ilford is a great starting point.

 


Plot availability

Plot number A107
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £87,500
Full market price £250,000
Monthly service charge £143

FAQ's

Min share price from: £87,500 for a 35% share
Full price from: £250,000
Bedrooms: 1
Bathrooms:

There is only one available priced at £87,500 for a 35% 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.

No, but 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

35% share from
£87,500
Full price
£250,000
Monthly service charge
£142