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Talking Shared Ownership with L&Q

Mariette Immaculate, Rebecca Thomson, Chris Osburn and Lindsay Keith attend the L&Q Interactive Roundtable on Affordable Housing & Shared Ownership in London, hosted at the L&Q marketing suite in Lewisham, London, Tuesday, Sept. 29, 2015.

L&Q ROUNDTABLE: LET’S TALK SHARED OWNERSHIP

Last Tuesday, I was invited to L&Q’s roundtable at Thurston Point, Lewisham to discuss housing in London and Shared Ownership. We talked about our experiences of housing in London over breakfast, the joys and the pitfalls! As anyone who lives in London knows, the housing market in London is point blank insane. Unless you have money that isn’t yours its darn near impossible to be able to buy a house. I love that London is so multicultural and one of the best places to have a career and experience technology and all that but we are in dire need of quality afforable living space. It’s often described as a crisis and it is easy to see why.

(L-R) Chris Osburn, Rebecca Thomson, Mariette Immaculate and Mariette Immaculate attend the L&Q Interactive Roundtable on Affordable Housing & Shared Ownership in London, hosted at the L&Q marketing suite in Lewisham, London, Tuesday, Sept. 29, 2015.

At our fancy, intellectual breakfast, we talked about Shared Ownership,  an increasingly popular choice which I genuinely think can be a viable option for Londoners. The part buy/part rent scheme allows Londoners to own a percentage of their home, with the option of staircasing up to full ownership when they are able to afford it.

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I took the opportunity to find out more at this roundtable organised by leading Housing Association, L&Q. They have developed over 2,000 homes in London and the South East last year and house a total of around 125,000 people playing a sizeable role in the housing market. They’re also committed to increasing this development pipeline to 5,000 units a year by 2020.

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L&Q did a fine job of inviting a variety London based bloggers with different experiences of the housing market and also Andrea Palmer, one of L&Q’s Sales Manager. Chris Osburn (@TikiChris) and Lindsay Keith (@OpheliaBottom) who were both long-term homeowners and Rebecca from Greenwhich mums (@greenwichmums) whose aiming to buy too (gooo girl!)

We had a few giggles, you can catch up on some of what we were gisting about – search #LQSOWeek2015 to see some of the conversations.

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L&Q really know their stuff and even being the youngest blogger, I have alot more hope to buy a house in the future by the time we left.

Mariette Immaculate, Rebecca Thomson, Chris Osburn and Lindsay Keith attend the L&Q Interactive Roundtable on Affordable Housing & Shared Ownership in London, hosted at the L&Q marketing suite in Lewisham, London, Tuesday, Sept. 29, 2015.
What do you think of the housing crisis and Shared Ownership as a potential solution? Join the conversation on Twitter at #LQSOWeek2015.

L&Q Priced In
Thurston Point
Greenwich Peninsula

Peace out!

This Post Has One Comment

  1. Buying with shared ownership is not as easy as you think.

    What if like me you live in a borough where there is no building or developments in the near future? and then that you work in a borough where the house prices are £1million+. So I’m stuck applying for every flat available in the one borough I can, new or resale and every flat has in excess of 1,500 people eligible for it.

    To qualify you have to pass the 40% affordability calculator, Meaning the TOTAL cost of rent, mortgage and service charge has to total no more than 40% of your take home wage. Completely unrealistic for anyone living in London. This will mean you have to earn in excess of £50K even to be considered for the cheapest 1 bed flat. And what about the deposit? well in my experience, the 5% mortgage has never been considered, they all want 10-20% deposit to qualify for affordability before you can even be selected to apply for the property. And this is not the people giving the mortgages, its the housing associations and the developers who decide this. Oh, an if you are single, good luck! because you will not only be behind everyone who has children, but everyone who is also buying as a couple.

    I’m currently trying to buy and have managed to save 10-15% for a deposit, plus the fees for solicitors. But I cant get accepted to buy anywhere because either I get told I cant afford the place (when I pay more than 50% of my take home wage already in rent for a shared house in zone 3 with 5 people no where near a tube) or that I am a lower priority than everyone else because I’m not in a couple or have children, or homeless, even though at some point I will be priced out of London due to rent increasing constantly.

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