The biggest barrier cited by first-time buyers to getting on the property ladder is saving for a deposit, according to new research from Santander1. As part of a national survey, 30% of 5,002 non-homeowners feel that saving a deposit is one of the biggest challenges.  For those that are struggling to raise a deposit Shared Ownership may be the answer. Notting Hill Genesis' New Garden Quarter development in Stratford, E15 is available to purchase with Shared Ownership, providing potential buyers with the opportunity to secure a home with a deposit of as little as £5,250*. Prices start from £105,000 for a 25% share of the full market value of £420,000.

With the help of Shared Ownership, buyers at New Garden Quarter can purchase a share of a home, between 25% and 75% of its full market value but as much as they can afford, while paying a subsidised rent on the remaining share. Shared Ownership can reduce the stress of saving for a large deposit as you only have to pay a deposit on the share you buy rather than on the full market value, enabling first time buyers the opportunity to enter into home ownership sooner. Additionally, provided they can afford to, shared owners can increase their share at any time, all the way up to 100% and outright ownership.

Jim Munson, Head of Marketing at Notting Hill Genesis, comments: “Saving for a deposit is one of the hardest challenges you will face when looking to buy a home, especially when the average deposit in London sits around £39,2562, making buying a home feel like an impossible task. The research results demonstrate how important alternative routes to home ownership are, particularly Shared Ownership, offering a more affordable and achievable route to buying a home – and sooner rather than later. New Garden Quarter is a great location for a first home too, with excellent local sports, leisure and retail amenities and outstanding transport links.”

The apartments have been meticulously designed to offer spacious, open-plan layouts, without compromising on style. Looking to fit in with the modern lifestyle, each apartment offers floor to ceiling windows to further accentuate the space and all apartments are provided with a balcony or terrace to relax with the views of the landscaped urban gardens. Kitchens feature a range of integrated appliances, while the bespoke bathrooms and en-suites are fitted with chic Roca sanitaryware as well as underfloor heating. Residents further benefit from the convenience of an on-site gym, ideal for those who are into fitness and wellbeing.

For those who love outdoor pursuits, Stratford could be the perfect location. World-class facilities are available at The Queen Elizabeth Park, including the London Stadium, swimming at the London Aquatics centre, Lea Valley VeloPark for cycling, Lea Valley Hockey and Tennis Centre and the Copper Box Arena gym, as well as beautiful paths, tow-paths and trails to explore. For the perfect excuse to jump on your bike, 10 minutes away is Victoria Park, one of London's most beautiful green spaces, as well as being one of the oldest public areas.

For the ultimate shopping experience, the largest shopping and leisure destination, Westfield Stratford City, is only a five-minute walk from the development, which offers a selection of over 250 shops, 65 restaurants and a 17-screen Vue cinema all under one roof. Leisure activities to unwind elsewhere are endless, with Stratford being an ideal location to easily access Central London to enjoy all it has to offer.

With Stratford train station less than five-minutes away by foot, getting around London could not be easier. The Jubilee and Central lines, provide access to central London in mere minutes, regular services also reach Kings Cross St Pancreas in six minutes, Canary Wharf in eight minutes and Heathrow airport in 45 minutes.

Prices for a one-bedroom apartment start from £105,000 based on a 25% share with a full market value of £420,000. For more information, contact Notting Hill Genesis on 020 3815 1234 or visit www.nhgsales.com

-ENDS-

For further media information, please contact Emily Mckay at The Oracle Group on:

020 8394 2821 or email emily@oraclepr.co.uk

NOTES TO EDITORS

About Notting Hill Genesis (NHG)

Notting Hill Genesis is one of the largest housing associations in the country, with around 64,000 homes across London and the south-east, serving more than 170,000 residents.

It was formed in April 2018 when Notting Hill Housing amalgamated with Genesis Housing Association. It is a social enterprise committed to creating thriving communities and providing homes for lower-income households.

NHG owns and manages homes across a range of tenures including social, affordable and private rent, leasehold, care and support, temporary housing and Shared Ownership, of which we are the largest provider in the country.

For more information, visit www.nhggroup.org.uk.