1/9
£161,250
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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £645,000 and a purchaser would not need to meet the eligibility criteria listed above.
Shared Ownership
This superb modern home is available to buy from as little as £161,250 with a 25% share!
A bright and spacious ground floor apartment in Bermondsey surrounded by amenities and half a mile from London Bridge Tube Station. The accommodation spans over 1000 sq. ft and comprises three spacious bedrooms, en-suite and family bathrooms and an impressive 30ft kitchen/dining/living space. This property will be sold with a 990 year lease and no onward chain complications.
Arc House is situated within a residential area in Bermondsey in the borough of Southwark.
The development is close to Maltby Street Market / Ropewalk, which is popular for food, independent shops and eateries. It is also within good proximity to parks, the river, and cultural spots in SE1 / Southwark / Bankside etc. Bermondsey Street and Tower Bridge Road are within easy reach of Arc House which both provide cafes/restaurants, shops and amenities.
Nearby tube stations provide regular services around London via the Northern and Jubilee lines.
PRICING & AFFORDABILITY
Full Market Value: £645,000
25% Share Price: £161,250 (rent £1,108.59pcm)
Minimum 5% Mortgage Deposit (% share): £8,062.50
Approximate Service Charges: £407.85 pcm*
Lease: 990 years
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership