2 bedroom apartment for sale
Portway House, 2a Ossory Road, London, SE1 5XY
Share percentage 40%, full price £530,000, £21,200 Min Deposit.
Share percentage 40%, full price £530,000, £21,200 Min Deposit.
Monthly Cost: £2,234
Rent £863,
Service charge £295,
Mortgage £1,076*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a Two Bedroom Duplex Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
Description
A selection of recently-redecorated duplex-apartments are now available in Portway House. All the properties have at least one balcony and feature attractive, fitted kitchens, stylish bathrooms and useful, built-in storage. The block is set within a modern gated development just off the Old Kent Road. Well insulated walls, roof and floor, high performance glazing and a communal heating/hot water system all contribute towards very good energy-efficiency ratings. There are supermarkets and a wide range of other shops just minutes away plus London Bridge, Waterloo and a variety of other transport connections and places of interest can be easily reached by local bus.
SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £530,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; https://tinyurl.com/7xmdhvvx]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: L&Q.
Tenure: Leasehold (approximately 116 years remaining).
Minimum Share: 40% (£212,000). Please note that applicants should purchase the maximum share that they can afford and sustain.
Shared Ownership Rent: £863.37 per month (this figure is from April 2024 and subject to annual review).
Service Charge: £294.60 per month (this figure is from April 2024 and subject to annual review).
Ground Rent: £100.00 for the year.
Guideline Minimum Income:Dual Income £80k 15% deposit £31.8k | Single - £89.4k 20% deposit £42.4k (based on minimum share).
Council Tax: Band D, London Borough of Southwark. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. There is no parking space offered with this property. Please visit https://www.lqgroup.org.uk/media-centre/news/changes-to-our-pets-policy for questions about keeping pets in the property.
Key Features
- Guide Dual Income £80k 15% deposit £31.8k
- Guide Single Income £89.4k 20% deposit £42.4k
- Second and Third Floor
- Approx. 739 Sqft Gross Internal Area
- High Performance Glazing
- Communal Heating and Hot Water System
- Gated Development
- Waterloo/London Bridge Within Easy Reach
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: D
Property Downloads
Key Information Document Floor Plan BrochureMap
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 40%, full price £530,000, £21,200 Min Deposit. Calculated using a representative rate of 4.64%
