Property prices in the UK are at an all-time high, especially for first-time buyers, for whom prices and rents have jumped three times faster than pre-pandemic, with asking prices up by £17,557 on average.*

Inflated property prices combined with the cost-of-living crisis and the rapidly approaching 31st October deadline for the Government’s Help to Buy scheme, means that there are more financial barriers than ever before for buyers looking to purchase a home.


Fortunately, there is an alternative government-backed homeownership scheme that can help. Shared Ownership is a part-buy, part-rent scheme which enables eligible buyers to purchase a percentage share of a property, whilst offering significant benefits in comparison to renting or buying outright.

We’ve rounded up the top three reasons why people looking to buy in the UK currently should consider Shared Ownership…

1. Deposits

Firstly, one key advantage of the Shared Ownership scheme is that the minimum deposit required is typically much lower than buying on the open market. Deposits for Shared Ownership properties can often be as low as 5% and are based on the value of the share you buy, rather than the full market value of the property. Initially, buyers can usually purchase between a 25-75% share.

For example, for L&Q’s Shared Ownership apartments at L&Q at Huntley Wharf in Reading, the minimum share value is currently £71,875 for a 25% share of a one-bedroom apartment, meaning deposits start from just £4,000 – significantly lower than the average property deposit in the area.

2. Lower Monthly Costs

As well as purchasing with a smaller deposit, the good news is that total monthly costs of a Shared Ownership home often work out cheaper than renting. Shared owners pay a mortgage on the share they own, and pay rent to a housing association, such as L&Q, on the portion they do not own. This makes the scheme a great option for those looking to move away from privately renting, as monthly payments can often be less than renting in the same area.

This is a hugely attractive reason to consider Shared Ownership, as the cost-of-living increases, especially with rents rising at the fastest rate ever recorded, and average monthly rental payments now up 17% nationally, in comparison to two years ago.*

3. A new-build home to call your own

Finally, purchasing a home through Shared Ownership means that buyers enjoy a brand-new property to make their own, as the scheme is designed for newbuild developments only. A key advantage to buying a newbuild home is that they are designed to be more energy efficient than older properties, meaning buyers can enjoy both a reduced impact on the environment as well as savings on energy bills.

At L&Q at Huntley Wharf, we currently have a collection of stylish and contemporary one- and two-bedroom Shared Ownership apartments available in the heart of Reading. A blank canvas on which buyers can make their mark, each home comes complete with fully integrated kitchen appliances as standard, allowing buyers to move straight in without worrying about additional costs.

To find out more about L&Q at Huntley Wharf click here.


*Yahoo News, July 2022,