First-time buyers can put down roots in West London with Shared Ownership

As mortgage rates continue to drop, and house prices become more stable, many people may be looking to 2024 as the year they buy their first home.  But for those currently renting in London, putting down more permanent roots in the capital can still feel like a distant dream.

It doesn’t need to be – and with Shared Ownership, which offers a more affordable route into home ownership, this can be the year you get onto the property ladder and choose London as your permanent home.

NHG Homes has developments in up-and-coming areas across London, one of which is North Acton – which is growing in popularity with first-time buyers, creating a thriving and rejuvenated community.  It benefits from first-rate connections across London, yet still has a neighbourhood feel and is set apart from the busy-ness of the city.

Our development The Perfume Factory offers one- and two-bedroom apartments, perfect for first-time buyers, with sleek, high quality design and built-in amenities.

Building on the area’s history

The Perfume Factory is inspired by the area’s rich history.  It’s built on the site of the former Elizabeth Arden factory, an iconic beauty brand that was founded over a century ago, and both the development’s name and its unique, stand-alone red portal arch pay homage to this legacy.

The area also has a more recent creative heritage.  Just two stops away from North Acton on the Central line, White City was home until 2009 to the BBC Television Rehearsal Rooms – a large and lively complex of studios.  The redevelopment of the area is bringing back North Acton’s buzz, this time as a residential-led community. 

Be part of a growing community

Fast becoming a sought-after location in West London, North Acton doesn’t just provide homes at an accessible price point for buyers in London – there is much to offer in the neighbourhood and beyond.

The Perfume Factory is surrounded by green space, with various parks and The Grand Union Canal providing the perfect setting for a walk, cycle or run.  Sports facilities can be found at North Acton playing fields, while Pitschinger Park is home to beautiful rose gardens, as well as a sensory garden to connect visitors with nature.

Also on the doorstep are local restaurants offering a variety of cuisines, cafés and local shops.  Local favourite Stones Fish and Chips in Acton recently scooped a prize at the Good Food Awards.

For shopping lovers, Westfield London is just over 15 minutes’ away via the tube, while 11 minutes in the opposite direction is Ealing Broadway with more places to shop, eat and drink.  Iconic London spot Portobello Road market can also be reached in less than 30 minutes.

Homes perfect for first-time buyers

With spacious open-plan layouts, mirrored fitted wardrobes and high quality wood-effect floors throughout living areas, The Perfume Factory’s apartments offer buyers the perfect balance of convenience, comfort and style.  All homes feature private outdoor balconies and terraces, as well as access to residents-only landscaped spaces.

Homes at the development are available to buy with Shared Ownership, meaning buyers part own and part rent their home, purchasing a percentage share of the property and paying rent on the remainder.

In many cases, buying in this way means monthly costs are lower than if renting privately in the same area, especially as rents continue to rise across the capital.

At The Perfume Factory, the monthly cost for a one-bedroom apartment with a 25% share is approximately £1,530, including rent, mortgage and service charge – while the average rent for a one-bedroom across Ealing is £1,805 per month.  And with the scheme, you can staircase your ownership over the years to the point where you fully own your home.

NHG Homes will also be hosting an event on Saturday 20 January to help first time buyers get financially fit.  Attendees will be able to speak to a mortgage advisor and view the development’s new show homes, and those that reserve by 31 January will receive a £1,000 moving in contribution for completing by 31 March.