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%.
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Leamington Court, 2 bed homes
Entrance hall with cupboards
Open plan living/dining room with access to two balconies
Modern fitted kitchen with a range of wall and base units with built in oven, hob and hood
Two double bedrooms
Bathroom/wc suite with overhead shower and screen
Gas central heating via communal boiler
Allocated parking space
Sky connection point
Bicycle store and lockable storage in communal area
Lease date: 125 years from 1st January 2009
EPC rating: C (79)
Please note that pets will not be permitted in apartments
Local area information
Moat is pleased to present to the market this two bedroom top floor apartment at Leamington Court, part of the popular Seren Park Gardens development. The block was re-developed in 2008 and is located approximately half a mile from Greenwich Park and just over one mile from Greenwich market and town centre. There is direct access onto the platform at Maze Hill railway station from the development. The O2 Arena is just over 1.6 miles away with a good selection of shops, restaurants and leisure facilities. There is convenient access onto the A206 providing links to the A2 and A102
Min share price from: £365,625 for a 75% share
Full price from: £487,500
Minimum deposit from: £18,281
Monthly rent from: £171
There is only one available priced at £365,625 for a 75% 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.