Legal And General Affordable Homes prepares for open-day to showcase shared ownership properties

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what’s the news?
Legal And General Affordable Homes is set to host an open day for its shared ownership properties at East River Wharf.
when’s it happening?
The housing provider has scheduled the event for May 10, 2025, in the Sky Lounge at the development, which is part of Riverscape, a scheme on the banks of the Thames in Royal Docks.
what’s new?
Legal And General is currently offering a £5,000 contribution towards buyers’ costs when purchasing a new home.
The idea is to lessen the burden of purchasing a property, be that stamp duty, moving costs or legal fees.
how does it work?
The £5,000 is deducted from the overall cost of the property on completion with the purchaser responsible for assigning the cash appropriately.
To be eligible, buyers must reserve their shared ownership home before midnight on June 30 this year.

more about East River Wharf
tell me about East River Wharf
Located close to Lyle Park, the scheme offers one, two and three-bedroom apartments within easy walking distance of Silvertown and Pontoon Dock DLR stations.
They also benefit from Royal Wharf Pier, which is served by the Uber Boat By Thames Clippers river bus service.
what are the properties like?
The shared ownership apartments feature open-plan living spaces, fully fitted kitchens with integrated Siemens appliances, private balconies and an NHBC 10-year build warranty.
and the residents’ facilities?
Those moving into East River Wharf will get access to a residents’ gym, pool and spa as well as Riverscape’s Sky Lounge.
There’s also a 24-hour concierge service and estate security.
what’s the area like?
East River Wharf’s blocks are located close to Lyle Park on the western edge of the Royal Wharf area.
Locally, many businesses are now established including a riverside pub, cafés, restaurants, a convenience store and a nail salon.
The scheme is also close to publicly accessible tennis courts and Thames Barrier Park, which boasts extensive landscaping and open space along the river.

a regenerated areas
and the location?
Royal Wharf is undergoing vast swathes of regeneration and boasts strong transport links to other areas of London.
Canary Wharf is around 15 minutes away, with direct links to the likes of London City Airport, Woolwich and Bank also available.
why shared ownership?
The scheme allows buyers to access housing with a much lower deposit than when purchasing a home on the open market.
This typically results in monthly outgoings that are cheaper than renting a home in the same area.
Housing providers sell a share of a home – often 25% – with buyers taking out a mortgage on just that portion of the property.
That means they may pay as little as 5% of that value as a deposit.
They then pay a capped below-market rent on the rest plus the full service charge and can live in the property essentially as though they own it.
getting more
Owners can choose to increase their share in a property via a process called staircasing right up to 100%. As their level of ownership rises, the rent they pay falls.
how much is East River Wharf?
Prices at the development start at £96,875 for a 25% share of a one-bed based on a full market value of £387,500.
Two-beds and Three-beds are also available.

key details: East River Wharf
Legal And General Affordable Homes Open Day at East River Wharf is set to take place on May 10, 2025, from 10am-4pm in the Sky Lounge, offering tours of available apartments.
Those wishing to attend should register via the company’s website.
Read more: How Orbit Clipper is set to become the first all-electric ferry on the Thames