Magnifying glass focusing a modern apartment building facade
These are the areas in London and beyond with the lowest deposits (Credits: Getty Images/iStockphoto)

There are vibrant new communities with amazing amenities within your budget.

Shared ownership makes a four-figure deposit a reality – even within an easy commute to central London. We’ve even found a place where you put down one of £3,000…

Saving a deposit is a huge stumbling block on the road to home ownership. Data from Hamptons shows that the average first home in London costs nearly £445,000. A ten per cent deposit equates to £44,500, yet NHG Homes has revealed that 81 per cent of first-time buyers in the capital are unable to raise more than £40,000.

Buying is much more affordable with shared ownership because the deposit is usually only five or ten per cent of the portion purchased.

For example, according to Share To Buy, the average new shared ownership home in London has a full market value of £463,401 and the average minimum share price is just under £140,000. However, the typical minimum deposit is just £9,277 – about 20 per cent of what you’d need on the open market.

Take your pick from these low-deposit, low-cost developments in and around London.

A living room at Cavalier Court.
Great transport links here (Picture: Legal and General Affordable Homes)

Minimum deposit: £2,688

From: £53,750 for 25 per cent of £215,000

These one and two-bedroom flats are ideal for commuters.

Gillingham station, a mile away, has fast services to St Pancras and Victoria plus Thameslink trains to Luton via Blackfriars and London Bridge.

Homes include balconies or terraces, and the development overlooks Chatham Dockyard.

Find out more at Legal and General Affordable Homes.

The exterior of Beckley Place
A rarity for the area (Picture: Places For People)

Oxford, OX3

Minimum deposit: £3,625

From: £72,500 for 25 per cent of £290,000

Affordable housing is hard to find in Oxford, one of the UK’s most expensive cities, so these one and two-bedroom flats and three-bedroom houses are bound to be of interest. They’re in Headington, ten minutes from the historic centre and convenient for the John Radcliffe Hospital and the A40.

Find out more at Places For People.

Kitchen and dining area at Edgware Parade
So functional (Picture: SNG)

Minimum deposit: £4,063

From: £81,250 for 25 per cent of £325,000

A mix of one and two-bedroom flats and three-bedroom duplexes spread over four blocks arranged around a podium garden.

Most include private balconies, and residents on higher floors are rewarded with spectacular views.

Edgware Tube station – at the end of a branch of the Northern line – is a four-minute walk away.

Find out more at Network Homes Sales.

Swimming pool at East River Wharf
Use of the pool is standard (Picture: Legal & General Affordable Homes)

Minimum deposit: £4,844

From: £96,875 for 25 per cent of £387,500

Live by the Thames for less in a one, two or three-bedroom flat in this vibrant new community where you’ll have a balcony and use of a pool and 16th-floor sky lounge.

Contributions of £2,000 towards buying costs are offered on reservations by the end of October.

Find out more at Legal & General Affordable Homes.

The Perfume Factory living room
A home here isbe stylish and toasty (Picture: NHG Homes)

Minimum deposit: £5,437

From: £108,750 for 25 per cent of £435,000

Ready-to-move-into one-bedroom flats are available of an old cosmetics factory.

A balcony, oak-effect flooring, underfloor heating and mirrored bedroom wardrobes are included with each, and North Acton’s Central line station is two minutes away.

Find out more at NHG Homes.

Bedroom at Addiscombe Oaks
Close to the city and the beach (Picture: LQ Homes)

Minimum deposit: £5,469

From: £109,375 for 25 per cent of £437,500

Moments from East Croydon station, with fast links to London Bridge, Victoria, Gatwick and Brighton, these two and three-bedroom flats have private balconies and access to communal gardens.

Up to £4,000 towards buying costs along with £500 Ikea vouchers is on offer.

Find out more at LQ Homes.

Kitchen and living room at SO Resi Sutton
Well suited for family life (Picture: SO Resi)

Minimum deposit: £6,063

From: £121,250 for 25 per cent of £485,000

Family-sized three-bedroom flats in the heart of an area renowned for excellent schools, including top grammars.

Sutton station, served by Southern and Thameslink trains, is a short walk away and there’s allocated underground parking. Shops, restaurants and a gym are on-site.

Find out more at SO Resi.

Huntley Wharf, Reading, living room and dining area
You even get a little extra help (Picture: LQ Homes)

Minimum deposit: £6,938

From: £69,375 for 25 per cent of £277,500

The final collection of one-bedroom flats in this riverside development – a ten-minute walk from the Elizabeth line station.

A café, restaurant, Tesco Express and gym are planned for its central square, and a nursery has already opened. On selected homes, £1,000 towards buying costs is available.

Find out more at LQ Homes.

Bedroom at Eastman Village
Move in ready (Picture: Hyde New Homes)

Minimum deposit: £8,400

From: £84,000 for 25 per cent of £336,000

Part of an established community on the former Kodak factory site, these one-bedroom flats are move-in ready.

All include private outside space and plenty of storage. Amenities such as a residents’ gym, supermarket, cafés and restaurants are coming soon.

Find out more at Hyde New Homes.

Living room and hallway at Cassia
Super spacious (Picture: New London Living)

Minimum deposit: £10,500

From: £105,000 for 30 per cent of £350,000

There are two Tube stations within walking distance of these one and two-bedroom flats, located in a leafy suburb just over half-an-hour from the West End.

Each features a spacious open-plan layout with a smart fitted kitchen and private outside space, and some have parking spaces.

Find out more at New London Living.

Making a show of it

An elevated view of London at dusk
Find out about available and forthcoming developments in London and beyond at the next London Home Show (Credits: Getty Images)

Learn more about shared ownership and find out about available and forthcoming developments in London and beyond at the next London Home Show, hosted by Share To Buy and taking place this Saturday.

Exhibitors include housing associations, developers, mortgage brokers and solicitors, and more than 20 live sessions are being held throughout the day on topics crucial to first-time buyers.

Register in advance for your free ticket here.

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