3 bedroom house for sale
Gillan Court, SE12 0DA
Share percentage 25%, full price £670,000, £8,375 Min Deposit.
Share percentage 25%, full price £670,000, £8,375 Min Deposit.
Monthly Cost: £2,177
Rent £1,152,
Service charge £71,
Mortgage £954*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
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.
At Gillan Mews you can buy a minimum 25% 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.
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.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
Summary
Brand new Shared Ownership
Description
Gillan Mews is a brand new collection of 2 and 3 bedroom homes, situated in an excellent location and available to purchase via the Shared Ownership Scheme.
The immediate area is well served by good local schools and conveniently located for both Grove Park (0.2 miles) and Lee Station (1.4 miles) with frequent trains into the city. Grove Park Station has direct links into London Bridge, Charing Cross, Blackfriars, Waterloo East & Cannon Street in as little as 14 minutes. Close by are several popular open spaces including Northbrook and Hornfair Parks. The highly sought after Eltham College and Colfes schools are both within easy reach as are the daily conveniences of Grove Park high street.
This brand new end of terrace home has accommodation spread over three floors and enjoys a private garden. To the ground floor is an open plan lounge/kitchen/diner with a separate cloakroom. On the first floor are two bedrooms and a bathroom with a further cloakroom and bedroom located on the second floor. Please note, there is no parking with the home.
Key Features
Brand new Shared Ownership home
Approx 0.2 miles from Grove Park Station
Private garden
Open plan lounge/kitchen/diner
Accommodation over three floors
Excellent commuter links
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
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 £670,000, £8,375 Min Deposit. Calculated using a representative rate of 5.26%
