Are you looking to buy a Shared Ownership home with L&Q? Have you considered buying one of our pre-owned homes?
In addition to the wide range of new-build developments launching in 2023, L&Q also offers a number of pre-owned Shared Ownership homes across London, where a Shared Owner has bought a home with us, but is now looking to sell.
Many of L&Q’s pre-owned homes are still within their new build warranty, and the high-quality build means they offer excellent energy efficiency too. A pre-owned home could even be your most affordable route to home ownership, with more favourable lending options sometimes available on older homes.
Carly Alliband, Head of Homeownership, explains; “Pre-owned homes can be a fantastic way to step onto the property ladder for those looking to buy through Shared Ownership. There are a huge variety of homes available across London, and when our current owners are looking to move, different homes become available every week.
“One of the great things about buying a pre-owned home is that you can meet the current owner at the first viewing and quiz them on everything from the best local cafes and restaurants through to the finer details of the home itself.”
Shared Ownership is a part buy, part rent scheme whereby you purchase a share of the home’s value and pay rent to L&Q on the remaining share. Buying a pre-owned or resale home works slightly differently to buying a new build. Instead of buying the minimum share of a home’s value (usually 25%), you buy the share that the current owner is selling, and depending on your affordability, you can buy up to 75%, with flexible ownership percentages available.