Developments

Find your dream home in 2025 with our deposit boost

20 February 2025

Shared Ownership is already an affordable way to get on the property ladder, but what if it was made easier? Introducing: deposit boost. 

From 26th December 2024 until 25th March 2025, we’re offering a 5% deposit boost on 25% shares across several of our homes. This promotion is available for our Shared Ownership homes at East River Wharf, Acer Apartments, Cavalier Court, and Trent Park.

What is a deposit boost?

Saving for a home deposit can be tricky. But for most first-time owners, or for anyone looking to get on the property ladder, obtaining a Shared Ownership mortgage is impossible without first fronting an initial deposit. 

With our deposit boost scheme, we’ll provide you with a 5% deposit contribution on your 25% share. But what does this look like in real-world terms? 

Let’s take a look at an East River Wharf apartment. The full value of your apartment is £387,500, so a 25% share would be £96,875. If you’re taking out an 85% mortgage, your costs would work out to: 

• Total for 85% mortgage: £82,343
• Deposit needed for 15%: £14,531

With our deposit boost, you would only need to save up a 10% deposit, and Legal & General Affordable Homes would contribute the remaining 5%. This breaks down as: 

• Your 10% contribution: £9,687 
• Our 5% contribution: £4,843

That’s almost £5,000 off your brand-new home! This could be put toward new furniture, any moving costs, or saved to be used in staircasing your shares further down the line. 

Your new home in East River Wharf

Why is a higher deposit better?

There are two main reasons why a higher deposit works out better for you in the long run. These involve your Shared Ownership mortgage, and your monthly costs: 

• Secure a better mortgage. Starting with a higher deposit brings down your loan to value ratio, which is worked out by the remaining mortgage cost. This can improve the mortgage rates you’re offered by brokers, as it’s deemed a less risky investment for them. 
• Reduce your monthly outgoings. A higher deposit can result in lower monthly mortgage and rent payments, depending on your specific property. Take a look at our affordability calculator to see these changes in action.  

Studios and apartments available at White City

See your new home at our upcoming events

As well as a 5% deposit boost on your new Shared Ownership home, we’re running events at all of our participating developments to showcase where you could be living in 2025. 

Make sure to come along to any of the following dates to view available properties, learn more about Shared Ownership, and speak to members of our friendly team:

The Acer Apartments, White City

• 22nd March

East River Wharf, Newham

• 15th March

Cavalier Court, Kent

• 29th March

Trent Park, Enfield

• 15th March

Terms and conditions apply. Not available with any other offer. Subject to stats and lender accepting incentive. Please get in touch with any specific queries.