Shared Ownership
This superb modern home is available to buy from as little as £106,250 with a 25% share!
This well presented first floor apartment provides features access to a substantial outside terrace and benefits from spacious and contemporary accommodation throughout. The property features a generous open plan kitchen/living room, two well proportioned bedrooms (bedroom one with en suite shower room) and a family bathroom.
Situated in the heart of Bromley, St Marks Square offers residents convenient access to an excellent range of shops, restaurants, cafés and leisure facilities. The nearby Glades Shopping Centre provides a wealth of retail options, while local parks and green spaces offer opportunities for outdoor recreation. Bromley remains one of South East London’s most desirable locations, combining a vibrant town centre with a strong sense of community.
The property is exceptionally well connected, with Bromley South Station providing fast and frequent services into London Victoria, while Bromley North Station offers additional rail links. A comprehensive bus network serves the surrounding area, and the nearby A21 and A232 provide convenient road access across South London, Kent and beyond.
PRICING & AFFORDABILITY
Full Market Value: £425,000
25% Share Price: £106,250 (rent £934.72pcm)
Minimum 5% Mortgage Deposit (25% share): £5,313
Approximate Service Charges: £375.10pcm*
Lease: 117 years remaining
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 £425,000 and a purchaser would not need to meet the eligibility criteria listed above.
