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
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.
