Shared Ownership

This superb modern home is available to buy from as little as £260,000 with a 50% share!

Situated in a highly sought-after location, the accommodation includes: 19ft lounge/diner with access to a private balcony, a separate 14ft kitchen, two double bedrooms and bathroom. The property also benefits from an allocated parking bay and no onward chain.

Set just yards from Bermondsey underground station and offering easy access to central London, Canary Wharf, and walking distance to the City of London. London Bridge mainline station also servicing the Jubilee and Northern Tube lines is within walking distance. Easy access to the fashionable Bermondsey Street, Maltby Street Market and Borough Market. Nearby local amenities such as doctor’s surgery, pharmacy, bakery and other local shops. Only a 5-minute walk to the river and a nearby Tesco and Co-Op for convenience.

PRICING & AFFORDABILITY

Approximate Size: 807 sq ft

Full Market Value: £520,000

50% Share Price: £260,000 (rent £481.68 pcm)
Minimum 5% Mortgage Deposit (50% share): £13,000
Approximate Service Charges: £220.08pcm*
Shared Ownership Lease: (Being increased to in excess of 900 years as part of the sale)
Council Tax Band: C

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change.

** This home can also be purchased outright (100% of the value) which is £520,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 2640.96.