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%.
Marcon Place
Overview
The Marcon Place property is a purpose built first floor flat in a four storey block built in around 2008. The lease remaining on the property is 116 years.
Local area information
There are good transport links with Hackney Downs Station less than a 2 minute walk away, served by National Rail linking to Liverpool Street in 10 minutes and Hackney Central Station 0.3 miles away linking to Highbury and Islington in 6 minutes. Local buses serve the area linking to Tottenham Court Road 24/7.
Local amenities are located 0.2 miles away along Amhurst Road as well as 0.3 miles along Mare Street for a range of shops, restaurants and bars. For leisure and enjoyment, Hackney Downs Park is within 0.4 miles.
Nearest Station: Hackney Downs – London Overground (Zone 2).
Bus routes nearby: Bus routes 30 & 56 from Hackney Downs Dalston Lane and bus routes 38, 48, 55, 106, 242, 253, 254, N38, N55 & N253 from Pembury Circus.
Plot availability
FAQ's
Min share price from: £131,250 for a 35% share
Full price from: £375,000
Minimum deposit from: £13,125
Monthly rent from: £362
Bedrooms: 1
Bathrooms: 1
There is only one available priced at £131,250 for a 35% 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.
Housing Provider
