Home ownership

Many people aspire to own their own homes and the Government has set up a really helpful website to guide those interested on what is involved and a range of possible ways to do so. The website is called Own Your Home. The site includes information for social housing tenants interested in pursuing a Right to Buy or Right to Acquire.

Every year, new homes become available on a shared ownership basis. This is a model where a purchaser buys a proportion of the home that they can afford and pays rent on the unowned equity share. Over time, it is possible to acquire additional ‘shares’ in the home (known as staircasing) until it is ‘owned’ outright (subject to any outstanding mortgage). Shared Ownership Homes in Bexley and across London are advertised on Homes for Londoners which is hosted and managed by the Greater London Authority. Anyone interested can register their details on the website to search for properties and get information about eligibility and options.

Current schemes in Bexley are:

Southmere Village, Thamesmead

In the heart of Thamesmead, Peabody's new Southmere Village development will include a selection of apartments and three and four-bedroom townhouses that will be available through Shared Ownership. This well-connected new development will be in close proximity to the new Crossrail station at Abbey Wood.

The Quarry, Erith

L&Q have just launched the latest phase of their truly impressive eco-development breathing new life into the disused Erith Quarry site. The Quarry will include a selection of modern one and two-bedroom homes available for shared ownership. Whilst the larger development will include a brand new primary school, new open space, community facilities, and will retain ecological areas complementing the existing landscape.

For those seeking to source a home on the local market, there are a range of websites that offer quick and simple search facilities including: