Research from the Home Builders Federation found that only 30% of earners can afford to buy a property due to rising house prices, mortgage costs, and a lack of government support.[1]
SO Resi (part of Metropolitan Thames Valley Housing) is expanding its SO Flexi London Living Rent scheme to Hendon Waterside, North London, following its success across other London locations including Acton and Peckham. Now available at Thistle Apartments, the latest phase of Hendon Waterside offers a collection of one, two and three-bedroom homes, giving those who live or work in the London Borough of Barnet the opportunity to get onto the property ladder through an accessible rent-to-buy scheme.
The scheme offers 47 homes available at a discounted rent set at approximately one third of the local median household income through three-year tenancy agreements. Those who apply for SO Flexi housing and are accepted will pay a £250 reservation fee and a deposit of one month’s rent. Monthly rents will start at £1,276 per month for a one-bedroom apartment, helping to make home ownership more achievable for local residents.
By reducing monthly housing costs, the scheme aims to support tenants in saving towards a deposit, with the ambition that residents will be able to purchase their home through Shared Ownership at the end of the rental term. All homes are expected to transition to ownership within ten years, creating a pathway from accessible renting to long-term home ownership.
To qualify for SO Flexi Hendon Waterside and London Living Rent, residents must either live or work in the London Borough of Barnet, have a current formal tenancy agreement, not already own a home or be able to buy a home on the open market, and have a household income below £75,000.
Hendon Waterside forms part of the wider £9.6 billion North West London regeneration scheme by Barnet and Brent Borough Councils. The development sits in the heart of the Welsh Harp Reservoir which offers scenic trails, waterside footpaths and green sheltered woods for residents to enjoy.

For retail options, the borough’s rejuvenated Broadway has seen a range of well-known shops, bars, and restaurants open in the town centre. Further afield, Brent Cross Shopping Centre is just a five-minute drive away and serves as North London’s go-to shopping and entertainment destination.
The car-free development has excellent transport links, offering services from Zone 3 Hendon Central Tube station and Hendon Railway Station, which is just a short walk from the development.
Sarah Ellis, Director of Sales and Marketing at SO Resi by Metropolitan Thames Valley, said:
“Providing good quality, accessible housing to local communities has always been at the core of SO Resi’s strategy, and the launch of SO Flexi Hendon Waterside is the latest step in that ongoing commitment.
“Hendon Waterside is an excellent development set within a thriving London community. Residents will not only benefit from excellent public transport links but will also have a range of popular eateries right on their doorstep. Commuters can reach central London in just 18 minutes while enjoying the benefits of a more accessible neighbourhood.
“With the cost of living and high private rents continuing to impact Londoners, it has never been more important to provide high-quality, attainable rental options. At SO Flexi, we are committed to helping residents access secure, well-managed homes through London Living Rent, giving them greater stability while supporting their longer-term housing goals.”
Currently available at SO Flexi Hendon Waterside are a collection of one, two and three-bedroom apartments, with monthly rent starting from £1,276 for a one-bedroom apartment. All applicants to SO Flexi Hendon Waterside must live or work in the London Borough of Barnet
To find out more about SO Flexi Hendon Waterside, visit www.soresi.co.uk/soflexi