Iris Court

1 bedroom homes in Lewisham, Lewisham, SE14 5HS

Tenure Shared ownership
What is Shared Ownership?
Availability Available
Min share price from £144,000 for 60% share
Full price from £240,000
Min deposit from £14,400
Bedrooms 1
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

The Iris Court property is a one bedroom purpose built, top floor flat in a three storey block built around 1992. The lease remaining on the property is 74 years.

Local area information

There are good transport links with Queens Road Peckham and New Cross Gate stations 0.5 miles away, served by National Rail and London Overground linking to London Bridge in 11 minutes. Local buses serve the area and the night buses links to Trafalgar Square.

Local amenities are located 0.1 miles away along New Cross Road. For leisure and enjoyment, Burgess Park is within 1.7 miles. As well as surrounding areas, Greenwich, Brockley and Deptford are only a short distance away with a mixture of cafes, bars, pubs and restaurants.

Nearest Station: New Cross Gate (Zone 2) – National Rail & London Overground.

Bus routes nearby: Bus routes 21, 53, 172, 453 & N21 from Briant Street.

Status Plot No. Floor Beds Min share price Eligibility
Available E Second 1 £144,000 View details

FAQ's

Min share price from: £144,000 for a 60% share
Full price from: £240,000
Minimum deposit from: £14,400
Monthly rent from: £211
Bedrooms: 1
Bathrooms: 1

There is only one available priced at £144,000 for a 60% 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

Register Interest

Register your interest to be contacted by a housing provider. You will need to provide basic eligibility criteria during the register interest process.

Iris Court

1 bedroom homes in Lewisham, Lewisham, SE14 5HS

Tenure Shared ownership
What is Shared Ownership?
Availability Available
Min share price from £144,000 for 60% share
Full price from £240,000
Min deposit from £14,400
Bedrooms 1
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