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)

Heath Lodge (NH.13), 2 bed homes


Talbot Close, London, Merton, CR4 1FB

Shared ownership

Starting prices

65% share from
£188,500
Full price
£290,000
Minimum deposit
£9,425
Monthly rent
£183
Monthly service charge
£144

Overview

2nd floor, 2 bedroom home in the London borough of Merton for £188,500 (65% share price of £290,000 full market price), available through Shared Ownership.

SPECIFICATION

Floor
2

GIA
68sqm

EPC rating
C

Length of lease
92 Years Remaining

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Parking
1 Allocated Space

Pets allowed
No

Number of bathrooms
1 + Ensuite

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ELIGIBILITY

 You will need to be earning a guidance income of £54,115. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 5% deposit approx. £9,425. Total approximate savings required £13,425.

Important borough specific eligibility criteria

Merton
All London applicants will be considered with priority given to people who live/work in the borough.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by

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AFFORDABILITY

Full Market Price: £290,000

Share Percentage: 65%

Equity Price: £188,500

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Monthly Rent: £183.37

Service Charge: £144.07

Ground Rent: £20.83

Estimated Total (per month): £348.27 excluding council tax


Local area information

Key Features

  • Communal hot water and heating
  • Mitcham Common on your doorstep
  • Short bus ride to Croydon Town Centre
  • Valley Park Retail Area

Local Transport

Mitcham Eastfields Station – 1.0m
Mitcham Junction Station – 1.2m


Housing Provider

Notting Hill Genesis
Shared ownership

Starting prices

65% share from
£188,500
Full price
£290,000
Minimum deposit
£9,425
Monthly rent
£183
Monthly service charge
£144