Buying a property in London is typically a challenge, especially if you’re looking for anything bigger than a shoebox under half a million. Fortunately for first time buyers, getting onto the property ladder in and around London has been made a lot easier through government schemes and new developments.. From Canary Wharf to Ebbsfleet Garden Village, the London area has been made more accessible to first time buyers in recent years.

Shared Ownership

One of the ways in which first time buyers are getting their footing onto the property ladder is through shared ownership. A scheme that allows you to part buy, part rent your home, shared ownership offers flexibility to buying your first home and this can be especially beneficial if you’re looking to live in London. With stunning new developments such as properties for sale in Ebbsfleet, these housing developments span across the London and commuter regions. Through buying a share in your home you only have to put a deposit down on that portion, making the buying process a lot easier than simply getting a mortgage and making a 10% down payment.

Help To Buy

Another scheme seeing first time buyers making it safely onto the property ladder is help to buy. Help to Buy provides you with a 20% equity loan that carries no interest at all for the first 5 years. And what’s more you will receive a 40% equity loan, taking the pressure off when it comes to those first few years. Help to buy is also especially beneficial for its low deposits. With just 5% to put down on a home, Help to Buy makes it easy to secure a property with a smaller upfront payment in the London region. Help to Buy homes are available across London from Croydon to Kent so you can be sure to find what you’re looking for.

New Developments

Another great way to find your first home is to browse new developments in London. From shared ownership in Surrey to new homes in Lewisham, new developments are a great way to get on the property ladder with plenty of schemes available.

Property portals offer a plethora of different homes from city apartments to shared ownership homes in Maidstone so you can find something that suits you and your future plans. London boroughs are a great place to start with the perfect balance of space, countryside, city convenience and community.

So whether you’re looking for a single city flat or a big family home in the suburbs, getting on the property ladder needn’t be a struggle. By doing your research and finding out what’s available you can find just what you need at a price that sounds right.