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)

4A Thornlaw Road, 1 bed homes


Thornlaw Road, London, Lambeth, SE27 0SA

Shared ownership

Starting prices

40% share from
£132,000
Full price
£330,000
Minimum deposit
£13,200
Monthly rent
£575
Monthly service charge
£283

Overview

Ground floor, one bedroom home set within an over 55’s development offering both independent and assisted living in the London Borough of Lambeth. Buyers at Cheviot Gardens will benefit from access to optional on site extra care facilities, activities and services available at this development, highly commended for best design at the 2018 National Housing Awards. This property is priced at £132,000 (40% share price of £330,000 full market price) and available through OPSO (Older Persons Shared Ownership).

Monthly Fees
Monthly Mortgage: £667.65
Monthly Rent: £574.34
NHHO Service Charge: £283.16
Ground Rent: £27.50 
Council Tax: £107.05

Estimated Total (per month): £ 1,525.75 excluding council tax

* Estimate - The monthly mortgage is based on an interest rate of 4.5% with a capital and interest repayment over 25. It is based on a 90 % mortgage. The rent may increase each year, the increase calculation will be specified in the lease.

Key Features

  • Set within a secure purpose built over 55’s development featuring landscaped communal gardens, an onsite cafeteria and hairdressers. Leaseholders can choose to access extra care facilities and social events.
  • Property benefits from its own open patio area
  • Local shopping and recreational facilities within reasonable travelling distance
  • No rent payable on final staircasing (the maximum share available to purchase being 75%)

Local area information

Railway Station
West Norwood (0.48 km)
 


Housing Provider

Notting Hill Genesis
Shared ownership

Starting prices

40% share from
£132,000
Full price
£330,000
Minimum deposit
£13,200
Monthly rent
£575
Monthly service charge
£283