Latimer rent campaign

Why rent when you can own?

Start your home ownership journey in the kind of property you want - for less than you currently pay in rent.

Why shared ownership makes sense

Buying a home outright feels out of reach for so many hopeful homeowners, especially first-time buyers.

Most people don't have a big deposit, a high income or family help to rely on

Shared ownership lowers the barrier

  • A mortgage deposit based just on the share being bought.
  • A smaller mortgage.
  • Affordability based on part-mortgage and part-rent.

That could be the difference between waiting years or buying now.

In many areas of the country the combined cost of the mortgage on a share and subsidised rent on the rest can be similar to, or sometimes cheaper than, private rent, especially for new-build homes. Unlike renting, some of that money is 'working' and going towards something you actually own. Even if you're buying 25% or 40%, you're building equity instead of handing over rent to pay someone else's mortgage forever.

Buying with shared ownership gives you control, stability, and a chance of getting on the ladder sooner.

Shared ownership is a practical way onto the property ladder. It's best approached while being honest about the trade-offs as well. Rent and service charges still need to be paid. Costs can rise over time. Selling can be more complex than a normal property. For some it may not be ideal for total flexibility

Stability without needing to buy 100%

Shared ownership still offers:

  • Long-term security.
  • The right to decorate and make it feel like home.
  • More certainty than a rolling rental contract.
Latimer rent campaign
Illustration of a person looking towards a house in the distance

Mortgage deposits

Buying with shared ownership could put a mortgage deposit within your reach.

Turning your rent into an investment

London example

According to home.co.uk, the average rent for homes across all properties in London IG3 was £1,855* per calendar month. With shared ownership, your outgoing could be £1,093 a month for a one bedroom apartment at One Goodmayes.

That's an approximate saving of £762 a month, based on:

  • A minimum 25% share of £78,750 (Full Market Value £315,000).
  • 5% mortgage deposit of £3,938.
  • £74,813 mortgage value.
  • £402 monthly mortgage repayments at a five-year fixed rate of 5% on a 30-year term.
  • £522 a month rent calculated on 2.65% annual cost of the remaining share value.
  • £170 a month estimated service charge.
Latimer Homes rent versus own cost comparison in London

Save up to £762* on rent in Redbridge with shared ownership.

National example

According to home.co.uk, the average rent for homes across all properties in York was £1,602* per calendar month. With shared ownership, your outgoing could be just £1,237 a month for a two bedroom apartment at The Cocoa Works.

That's an approximate saving of £365 a month, based on:

  • A minimum 35% share of £111,125 (Full Market Value £317,500).
  • 5% deposit of £5,556.
  • £105,569 mortgage value.
  • £567 monthly mortgage repayments at a five-year fixed rate of 5% on a 30-year term.
  • £473 a month rent calculated on 2.75% annual cost of the remaining share value.
  • £197 a month estimated service charge.
Latimer Homes rent versus own national cost comparison base on York

Save up to £365* on rent in York with shared ownership.

Alta at Consort Place, homeowner Siri

Without shared ownership, there is no way I could afford this address. Here I pay significantly less a month and also have the security of owning 25% of the property. There’s no question that this route to owning a home in a central London location makes sense.

Siri, who lives in a one bedroom flat at Alta at Consort Place

London

Around the country

Latimer creates

Liveable, loveable places

Building communities. By Latimer. For Everyone.

Browse our available homes