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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Parkview Apartments - ref GEN17, 2 bed homes
Third floor 2 bedroom home in the London borough of Tower Hamlets for £ 260,000 65% share price of £400,000 full market price, available through Shared Ownership.
*Monthly Mortgage: £1,315.06
Monthly Rent: £241.00
NHHO Service Charge: £ 275.81
*Council Tax: £112
Estimated Total (per month): £1,831.87 (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.
Access to 18th floor rooftop terrace
Cycle storage on ground floor
Concierge from 1:00 p.m. to 9:00 p.m. (duties shared between cleaning and security from 3:00 p.m. onwards)
CCTV cameras in communal areas
Local area information
Within 2 miles of 7 Outstanding Primary Schools and 3 Outstanding Secondary Schools (rated by Ofsted)
Within 6 minutes' walk of Chrisp Street Market, Chrisp Street Health Centre, 2 supermarkets, and 2 pharmacies
Within 2 minutes' walk of Langdon Park
Langdon Park DLR Station - 30ft
Poplar DLR Station (DLR) - 0.7 miles
Canary Wharf (DLR) - 1.1 miles
Canary Wharf Underground Station (Jubilee) – 1.1 miles
Stratford (Central, Jubilee, TFL Rail, London Overground, DLR) - 2.6 miles