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)

Hanover House - 635, Studio bed homes


Hanover House, 7 St George Wharf, London, Lambeth, SW8 2JA

Shared ownership

Starting prices

25% share from
£87,500
Full price
£350,000
Minimum deposit
£87,500
Monthly rent
£645
Monthly service charge
£179

Overview

Tenth floor studio apartment in the London borough of Lambeth for £350,000  at a 25% share price of £87,500, available through Shared Ownership.

 

SPECIFICATION

Tenth Floor

Studio room (including kitchen, bathroom and hallway)

GIA
35.07 sqm

EPC rating

B

Length of lease

85 years

Borough

Lambeth

 

Monthly Fees

*Monthly Mortgage: £ 442.57

Monthly Rent: £ 644.77

Notting Hill Administration Fee: £13.50
**Service Charge: £ 178.77 (estimated)

Council Tax: £ 1,445.00

Estimated Total (per month): £1,279.61 excluding council tax

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

** Service Charge payable to external managing agent.

 


Local area information

Local Transport

Vauxhall Underground/Rail Station – 0.1
Oval Underground Station – 0.8m


Housing Provider

Notting Hill Genesis
Shared ownership

Starting prices

25% share from
£87,500
Full price
£350,000
Minimum deposit
£87,500
Monthly rent
£645
Monthly service charge
£179