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Deposit under £15k? Stunning London homes you can buy today

By Jan Moys

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Wondering what you could buy in London with a deposit of £15,000 or under? We pick out ten attractive properties available on the Help to Buy scheme, either through Shared Ownership or with an equity loan of up to 40%. Available with deposits from as low as £7,875, these properties illustrate the possibilities opened up by this highly popular initiative.

Help to Buy Equity Loan

Aimed at first time buyers, the Government's Help to Buy Equity Loan scheme offers London buyers a loan of up to 40% of the value of an eligible new-build property. The buyer only needs a 5% deposit, with the mortgage making up the remaining 55% of the property – bringing home ownership within reach of those on lower salaries and with smaller deposits.

Below are some very affordable Help to Buy properties in Greater London. With the cheapest option available for a deposit of just £11,250 and a mortgage of £123,750, these flats represent a very realistic first step onto the property ladder for buyers on a limited budget.

Brassey House, Walton-on-Thames, KT12

£260,000 | 1 bed flat

Deposit: £13,000 | Equity loan: £104,000 | Mortgage: £143,000

The Brassey House development in the heart of Walton-on-Thames offers one bedroom apartments eligible for Help to Buy at £240,000 and £260,000 price points. A 5% deposit of just £13,000 would secure the larger 374 sq ft property on the third floor, offering a high quality finish throughout and a private balcony.

Eton Court, Cheam, SM3

£225,000 | Studio

Deposit: £11,250 | Equity loan: £90,000 | Mortgage: £123,750

Located just west of popular Sutton, Cheam is an attractive suburban village with swift transport connections through Wimbledon and on into Clapham Junction. This new development by renowned developer Montreaux offers 1 bedroom flats and studios that are both eligible for the Help to Buy equity loan, with the studio coming in beneath our £15k deposit budget at just £11,250.

Ikon, Purley Way, CR0

£295,000 | 1 bedroom flat

Deposit: £14,750 | Equity loan: £118,000 | Mortgage: £162,250

The stylish Ikon development in Croydon is aimed at London commuters seeking more for their money in this increasingly popular area. A wide variety of properties – from compact one bedroom flats to larger 3 bedroom homes – are available on the Help to Buy scheme. We've picked out a 572 sq ft one bedroom apartment at £295,000 that would require a deposit of just £14,750.

Blenheim Park Road, South Croydon, CR2

£300,000 | 1 bedroom flat

Deposit: £15,000 | Equity loan: £120,000 | Mortgage: £165,000

Also in Croydon is this converted property on Blenheim Park Road. The beautifully-finished one bedroom apartment on the second floor is offered with Help to Buy at £300,000, meaning a minimum £15,000 deposit for this secluded and attractive home.

Shared Ownership

Shared Ownership is another option within the Government's Help to Buy strategy. This allows buyers whose household income is under £90,000 to purchase 25-75% of a property and pay rent on the rest. Our experts will advise buyers on affordability for these homes by calculating mortgage payments, rent and service charges, as well as taking into account the usual bills and maintenance costs.

Below are a few great options for buyers interested in the Shared Ownership scheme. With convenient locations and deposits from as little as £7,875, these homes represent an affordable entry into the London property market.

Spring Place, Barking, IG11

£78,750 (35% share) | 1 bed flat

Deposit (minimum): £7,875

This generously-sized one bedroom apartment is set on the third floor of the Spring Place development in Barking. Offered at a 35% share, this provides an extremely affordable option in the rapidly developing east London commuter belt of Barking.

Railway Approach, Harrow, HA1

£99,950 (45% share) | 1 bed flat

Deposit (minimum): £9,995

This great value one bedroom apartment in Harrow is offered at a 45% share for £99,950. Ideally located next to Harrow & Wealdstone overground and tube station, this spacious home has recently been decorated and features new flooring throughout.

Rothsay Street, London Bridge, SE1

£115,000 (25% share) | 1 bed flat

Deposit (minimum): £11,500

Situated within the Jam Factory – one of Borough's most desirable new developments – this one bedroom apartment is stylish and well laid out. As well as a spacious kitchen/reception area and private balcony the property offers a sizeable 22 ft bedroom offering plenty of room for an extra seating area or office space.

Chapel Yard, Wandsworth, SW18

£120,000 (30% share) | 1 bed flat

Deposit (minimum): £12,000

Wandsworth is a highly desirable borough, not least because it has the lowest council tax in the country. This one bedroom apartment in the Chapel yard development is offered for a 30% share at £120,000 and boasts a generous reception space with two Juliette balconies.

Furmage Street, Earlsfield, SW18

£129,500 (35% share) | 1 bed flat

Deposit (minimum): £12,950

Located between Wimbledon Park and Wandsworth Common, Earlsfield is a beautiful, leafy area popular with families and couples wanting plenty of green spaces and great transport links. This one bedroom apartment provides an affordable way of buying a home in this desirable location, and offers modern, neutral decor and a private balcony.

Point Pleasant, East Putney, SW18

£140,000 (25% share) | 2 bed flat

Deposit (minimum): £14,000

Putney, with its picturesque riverside, plentiful amenities and abundance of outstanding properties, is a highly sought-after location in south-west London. This two bedroom flat within the Point Pleasant development next to Wandsworth Park benefits from an en suite to the master bedroom, a good-sized second double bedroom and an outstanding residents' roof terrace.

Find out more about the Help to Buy scheme, or browse all our Help to Buy properties. Search by location, price, Help to Buy availability or specific development to find your perfect property.

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