This is a sponsored article on behalf of Catalyst.
For many Londoners, getting on the property ladder is a daunting task. The capital's notorious for the competitiveness of its housing market, with high demand and deposits that are often way out of reach for young professionals.
Catalyst is here to help. This leading housing association offers an array of modern, high-quality properties all over the city, with buying options to suit smaller budgets.
Read on to find out how a different route to home-ownership might benefit you, and discover Catalyst's most exciting developments of the moment.
How to buy
One solution for first-time buyers offered by Catalyst is Shared Ownership. This part-buy, part-rent scheme helps those that might otherwise be priced out of the open market by allowing them to purchase a share of a property, usually between 25% and 75% of its full value, and pay rent on the remaining portion,
Via Shared Ownership, buyers need only pay a deposit for the share they purchase — giving them a more attainable savings goal. What's more, at 5%-10% of the share's value, Shared Ownership deposits are typically smaller than those on the open market, further reducing upfront costs.
Monthly costs can also be kept down, with mortgage repayments based on the share you purchase. Over time, you might potentially be able to 'staircase' your way to full homeownership by gradually buying additional shares as you become more financially able.
Help to Buy
Another option offered by Catalyst is Help to Buy. Through this scheme, first-time buyers need only stump up a 5% deposit of the property's full value. This is supported by a government-backed equity loan of up to 40% if you’re buying in London.
If you're a first-time buyer, the property you've got your eye on is under £600,000, and you're able to secure a mortgage for the remaining value of the property, London Help To Buy could be a path to homeownership.
Where to buy
Catalyst boasts homes all over the capital available via shared ownership or Help to Buy to suit a variety of lifestyles. Below we've included a few of our highlights but do have a play around with their website search engine to find the development that's right for you.
The Switch, Wimbledon
Situated in a sought-after part of southwest London, The Switch offers luxurious one to three-bedroom apartments, alongside new retail and leisure space set around a new 9,000-seat stadium for AFC Wimbledon. Prices start at £97,500 for a 25% share of a one-bedroom apartment.
Aspire at St Bernard's Gate, Hanwell
This heritage-rich development is set amid the grounds of the Grade II St Bernard’s Chapel, with its original gatehouse arch. Just a handful of one and two-bedroom apartments remain, all of which are available through Help to Buy. One-bedroom apartments with Help to Buy start at £365,000.
This collection of studio, one and two-bedroom Shared Ownership apartments is part of one of London's most ambitious regeneration projects. The Green Quarter is transforming Southall into a metropolis of greenery, ecology, and culture. Prices start at £65,625 for a 25% share of a studio apartment.
The Folium, Muswell Hill
The Folium is a collection of one to three-bedroom apartments and four-bedroom townhouses, all available to purchase through Shared Ownership and private sale. Close to the historic 36-acre conservation area of Coppett's Wood, with Alexandra Palace and Highgate Woods within easy reach, this is one of North London's leafiest neighbourhoods. Prices start at £167,000 for a 40% share of a one-bedroom apartment.
Nova at Queensbury Square, Queensbury
Mere minutes from Queensbury tube station, you'll find Nova at Queensbury Square, which is a brilliant choice for those that don't want to stray too far from the bright lights of the city. Prices start from £163,000 for a 40% share of a two-bedroom apartment — one and three-bedroom apartments are also available.
Ready to find the home-of-your-own of your dreams? Visit catalyst.homes.