Share percentage 25%, full price £462,500, £5,781 Min Deposit.
Monthly Cost: £1,499
Rent £795,
Service charge £85,
Mortgage £619*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
- Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
- 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.
Summary
Brand new 2-bedroom Apartment in the Maybrey Works development, available through shared ownership in Sydenham. The price represents purchasing a 25% share of the property
Description
Brand new 2-bedroom Apartment in the Maybrey Works development, available through shared ownership in Sydenham. The price represents purchasing a 25% share of the property
ELIGIBILITY CRITERIA:
Applicants must reside in London
Income caps apply – Maximum household income must not exceed £38,500 for 1 bedroom properties, £50,500 for 2 bedroom properties and £62,500 for 3 bedroom properties.
About the Development
Maybrey Works is a development of new homes in Sydenham, South London, close to local amenities and situated just a short walk from the nearest train station for travel to central London and the City.
Many apartments have balconies and offer water views, and will appeal to a wide audience, including professionals and first-time buyers. Maybrey Works also offers the ability to work from home in our work hub, which is open to all residents.
About the Home
This plot is a wonderful new 2-bedroom flat. The property opens to a long hallway. Directly in front of you there is a separate utility room. To the other side there is also a spacious storage cupboard. Further down you are presented with the two very spacious and bright bedrooms. The flat is also offered with a 3-piece bathroom with a shower over bath. Furthermore, there is a wonderful Kitchen/living/dining area that leads onto a large private balcony.
About the Area
Maybrey Works is located within easy reach of everything you could need for everyday life and a whole lot more. The local amenities of Sydenham are close-by and offer all the essentials, including restaurants, bars and schools, while Lower Sydenham railway station is a three minute walk away and operates regular services into London Bridge in just under 15 minutes.
Shared Ownership
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. You can buy a minimum 45% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
T&Cs
*Please note images are for information purposes only and may not represent a true likeness for the units being sold. Some or all images have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images.
*Services Charges will apply, speak to our Sales Agent for more information. Costs are subject to change.
Key Features
- 2 bedroom 3rd floor apartment
- Flooring throughout
- Storage space
- Separate Utility cupboard
- 3 piece bathroom with shower over bath
- Large bedroom windows
- Private balcony
- Estimated Service charge £139.43pcm
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor Plan Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 25%, full price £462,500, £5,781 Min Deposit. Calculated using a representative rate of 4.64%
