Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Cumberland House, 1 bed homes


Erebus Drive, Thamesmead, Greenwich, SE28 0GE

Shared ownership

Starting prices

40% share from
£100,000
Full price
£250,000
Minimum deposit
£10,000
Monthly rent
£334
Monthly service charge
£240

Overview

• Entrance hall
• Living/dining room with doors onto private patio area and communal gardens, open plan to kitchen
• Fitted kitchen with a range of matching wall and base units, integrated oven, hob and hood, space for washing machine and dishwasher
• Double bedroom 
• Bathroom comprising of panelled bath with overhead shower attachment, low level wc and wash basin set in vanity unit
• Gas central heating
• River views
• Secure underground car parking space
• Lease date: 99 years from 1 May 2003
• EPC rating – B (79)
• CO2 emissions – C (83)
• Council tax band – B
• Pets will not be permitted in apartments 


Local area information

Moat is pleased to present to the market this one bedroom upper ground floor apartment built around 2003 at Royal Artillery Quays.  Woolwich Arsenal railway station is just over half a mile away with links to London Bridge, Cannon Street and Charing Cross.  The DLR at Woolwich Arsenal provides excellent links to Central London and City Airport.  Royal Arsenal pier is less than a mile away which serves Thames Clipper boats towards central London.  Woolwich town centre is less than a mile away and has a great selection of shops, cafes/restaurants, supermarkets and leisure facilities. The property is conveniently situated for driving into London, Kent and the M25.   


Plot availability

Plot number 5
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £100,000
Full market price £250,000
Monthly rent £334
Monthly service charge £240
Ownership Leasehold
Energy Efficiency Rating
Current
Potential
Very energy efficient - lower running costs
(92-100) A
(81-91) B
(69-80) C
(55-68) D
(39-54) E
(21-38) F
(1-20) G
79
81
Not energy efficient - higher running costs
Environmental Impact (CO2) Rating
Current
Potential
Very environmental friendly - lower CO2 emissions
(92-100) A
(81-91) B
(69-80) C
(55-68) D
(39-54) E
(21-38) F
(1-20) G
83
85
Not environmental friendly - higher CO2 emissions

FAQ's

Min share price from: £100,000 for a 40% share
Full price from: £250,000
Minimum deposit from: £10,000
Monthly rent from: £334
Bedrooms: 1
Bathrooms: 1

There is only one available priced at £100,000 for a 40% 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.

Housing Provider

Moat
Shared ownership

Starting prices

40% share from
£100,000
Full price
£250,000
Minimum deposit
£10,000
Monthly rent
£334
Monthly service charge
£240