Cheviot Gardens

1 - 2 bedroom homes in Lambeth, Lambeth, SE27 0SU

Tenure Shared ownership
What is Shared Ownership?
Availability Available
Min share price from £90,625 for 25% share
Full price from £362,500
Min deposit from £4,531
Bedrooms 1-2
Bathrooms 1

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Overview

Receive a £2000 legal contribution when you complete on an apartment within 8 weeks of reservation* 

Situated in West Norwood, Cheviot Gardens comprises of 18 one and two bedroom apartments available to buy through the Older Person's Shared Ownership (OPSO) scheme. 

This scheme has the added financial benefit that allows you to own 75% share without paying any rent on the remaining 25%, which could free up extra equity to enjoy life now.

Whether you fancy afternoon tea, dancing, flower arranging or going for a swim, you will find all this and more in West Norwood. Visit the Portico Gallery, a hub of activity, for tea dances, singing workshops, film afternoons and yoga, as well as art exhibitions and installations. You could try your hand at flower arranging, line dancing, tai chi and other activities with the Norwood Pensioners Group at the Old Library Centre.

The Older Person Shared Ownership (OPSO) scheme, formerly known as Home Ownership for Older People (HOOP), is for people aged 55 or over who are otherwise unable to afford to buy a home suitable to their needs. The scheme is similar to Shared Ownership and enables you to buy a 75% share of the home or apartment.

*This offer is only available to buyers purchasing an apartment who viewed on or after 2nd September 2017. Please note you'll be required to pay your initial legal fees, as our incentive is only payable once completion has taken place.

**Details of care package and service charge available on request.
***Images are a mix of computer generated images of Cheviot Gardens and show home photography. of previous Notting Hill show home The Exchange, intended for illustrative purposes only.

 

Specifications

These single level, self-contained apartments have an open plan living room and kitchen, and private outdoor space. The properties benefit from timber effect flooring to living areas and carpet to bedrooms, TV points and cable points are located in the master bedroom and living room. Kitchens have white linen kitchen units and Zanussi appliances - ceramic electric cook top, conventional oven, fridge-freezer. 

The apartments are adjacent to a state-of-the-art extra care facility, and residents can subscribe to care packages (details of care packages and service charges are available on request).

All residents will also have access to tranquil communal landscaped gardens, lounge and cafe, and will have an opportunity to participate in a range of activities and classes.

These homes are set within a lovely residential area with many local amenities to enjoy with friends and family, including shops and cafes, restaurants, a library, church and green spaces at Norwood Park and Streatham Common.

Local area information

Cheviot Gardens is well positioned just 0.5 km (a seven minute walk) from West Norwood station, which offers regular services to London Bridge (28 min journey) and Victoria (20 min journey). Tulse Hill station is a short bus journey (15min) away and provides a service to Blackfriars and St. Pancras.

Status Plot No. Floor Beds Min share price Eligibility
Available 15 Second 1 £90,625 View details
Available 13 Second 1 £93,000 View details
Available 14 Second 1 £93,000 View details
Available 4 Ground 2 £111,250 View details

FAQ's

Min share price from: £90,625 for a 25% share
Full price from: £362,500
Minimum deposit from: £4,531
Monthly rent from: £623
Bedrooms: 1
Bathrooms: 1

There are 4 available ranging from £90,625 for a 25% share to £111,250 for a 25% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.
Illustration by: James Halsall

Check eligibility

Check your eligibility against the cheapest plot at this development. Alternatively, qualify yourself against your preferred plot listed on the ‘Availability’ table.

Cheviot Gardens

1 - 2 bedroom homes in Lambeth, Lambeth, SE27 0SU

Tenure Shared ownership
What is Shared Ownership?
Availability Available
Min share price from £90,625 for 25% share
Full price from £362,500
Min deposit from £4,531
Bedrooms 1-2
Bathrooms 1

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Location

Housing Provider

Trusted by

Southern Complete Moves Mayor or London National Housing Federation Moat Homes