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%.

L&Q at New Stratford Works


Penny Brookes Street, Stratford, Newham, E15 1DR

Shared ownership
1-3 bedroom homes
25% share from
£93,750
Full price
£375,000
Minimum deposit
£9,375
Monthly rent
£645
Monthly service charge
£139

Overview

Launch event 22nd and 23rd February 10am – 5pm.

The development comprises of 22 apartments, 7 parking spaces, a collection of 1, 2 and 3-bedroom apartments available with shared ownership at Chobham Farm, a brand-new development located in Newham.

Situated in the heart of Stratford. New Stratford Works is a sustainable investment which offers the perfect work-life balance.  Conveniently positioned within walking distance from Stratford station where you have access to all areas of London.

 

Please note, these images are from a similar L&Q development


Local area information

Whether you work in the City, Canary Wharf, West End or South Bank, cut your commute short and enjoy the endless transport links on offer at Stratford.

The multi-level Stratford Station offers underground services on the Central and Jubilee Lines, Overground Great Eastern trains into Liverpool Street or out to East Anglia, and DLR connections across the whole of docklands. The station will also be part of the High-speed Crossrail network, opening up superfast travel to Bond Street, Paddington, the Thames valley and Heathrow Airport.


Plot availability

Plot number 25
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £93,750
Full market price £375,000
Monthly rent £645
Monthly service charge £139
Ownership Leasehold
Plot number 49
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £100,000
Full market price £400,000
Monthly rent £688
Monthly service charge £139
Ownership Leasehold
Plot number 19
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £100,000
Full market price £400,000
Monthly rent £688
Monthly service charge £120
Ownership Leasehold
Plot number 23
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £123,750
Full market price £495,000
Monthly rent £773
Monthly service charge £172
Ownership Leasehold
Plot number 35
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £126,250
Full market price £505,000
Monthly rent £789
Monthly service charge £172
Ownership Leasehold
Plot number 22
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £127,500
Full market price £510,000
Monthly rent £797
Monthly service charge £177
Ownership Leasehold
Plot number 26
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £128,750
Full market price £515,000
Monthly rent £805
Monthly service charge £177
Ownership Leasehold
Plot number 28
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £128,750
Full market price £515,000
Monthly rent £805
Monthly service charge £177
Ownership Leasehold
Plot number 21
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £150,000
Full market price £600,000
Monthly rent £844
Monthly service charge £202
Ownership Leasehold
Plot number 27
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £150,625
Full market price £602,500
Monthly rent £847
Monthly service charge £202
Ownership Leasehold
Plot number 45
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £158,875
Full market price £635,000
Monthly rent £893
Monthly service charge £202
Ownership Leasehold

FAQ's

Min share price from: £93,750 for a 25% share
Full price from: £375,000
Minimum deposit from: £9,375
Monthly rent from: £645
Bedrooms: 1
Bathrooms: 1

There are 11 available ranging from £93,750 for a 25% share to £158,875 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.

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

L&Q (North region)
Shared ownership
1-3 bedroom homes
25% share from
£93,750
Full price
£375,000
Minimum deposit
£9,375
Monthly rent
£645
Monthly service charge
£139