New shared ownership housing scheme offers affordable ‘forever homes’ for London families

New shared ownership housing scheme offers affordable ‘forever homes’ for London families

A new scheme offering family-sized houses to buy in London under shared ownership has been launched by housing provider Octavia.

The scheme is a first for Octavia as it will be open to anyone currently living in a London borough. It offers a selection of three- or four-bedroom houses at Octavia Living’s Gladstone Village — a new development in a green space location near Dollis Hill, London.

Aimed at helping working families across London, the scheme has been developed for those who are priced out of the London housing market but wish to live close to where they work.  It represents a new departure in shared ownership for Octavia, and recognises the growing need for affordable housing for people other than first time buyers. A 50% share purchase could secure a three-bedroom house with garden and off-street parking for a home valued at £850,000.

Head of Sales and Marketing for Octavia, Sue Dance said: “We think the option to invest a 50% share in one of these family houses could be a perfect choice for people who may have outgrown their first family home but are struggling to up-size in London on their budget. We think that for many people, this scheme is a viable solution to finding a secure ‘forever home’ in a vibrant community location where they can settle and raise their family.”

All the houses have two bathrooms and a cloakroom. The kitchens are fitted with integrated appliances and open plan living spaces. Additionally, they look out over green space and many of them have balconies on the upper floor. With the option of staircasing available, buyers can increase their investment in their long-term home when the time is right for them to do so.

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