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%.

PriME1


Corporation Street, Foord House, Rochester, Medway, ME1

Shared ownership
2 bedroom homes
25% share from
£62,500
Full price
£250,000
Minimum deposit
£3,125
Monthly rent
£434
Monthly service charge
£162

Overview

Viewings and mortgage workshop 11th January - book a place to see the property and discuss your affordability with a mortgage advisor for the shared ownership scheme.

This 2 bedroom shared ownership apartment features a fully fitted kitchen with integrated appliances and high quality fixtures and fittings. The apartment has a private winter garden and one allocated parking space.

Reserve by the end of January and receive 1 Year's free service charge worth up to £1,945 and pay just £99 reservation fee.

FMV: £250,000
Share: From 25% - £65,500
Monthly Rent: £430
Monthly Service Charge: 162
Lease Length: 125 years

PRIME1 is a flagship new build development in Rochester, consisting of 53 one and two bedroom apartments available to buy through shared ownership.

 


Local area information

Ideally situated for commuters, PriME1 is located next to Rochester station, with trains running to London St Pancras in approx. 41 minutes, and London Victoria in approx. 46 minutes. For summer seaside away days, trains run to Whitstable, Broadstairs and Margate.

Rochester is an historic town, boasting the second largest cathedral in England, as well as being the childhood home of Charles Dickens.

To complement its historic and literary attractions, Rochester has many bars, restaurants and pubs making it a vibrant cultural hub. The high street maintains a quaint atmosphere, with boutiques, art galleries and antique shops. A flea market is held every month, making it a great place for vintage finds and local crafts.


Plot availability

Plot number A-00-03
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £65,500
Full market price £250,000
Monthly rent £430
Monthly service charge £162
Ownership Leasehold

Viewings and mortgage workshop 11th January - book a place to see the property and discuss your affordability with a mortgage advisor for the shared ownership scheme.

This 2 bedroom shared ownership apartment features a fully fitted kitchen with integrated appliances and high quality fixtures and fittings. The apartment has a private winter garden and one allocated parking space.

Reserve by the end of January and receive 1 Year's free service charge worth up to £1,945 and pay just £99 reservation fee.

FMV: £250,000
Share: From 25% - £65,500
Monthly Rent: £430
Monthly Service Charge: 162
Lease Length: 125 years

PRIME1 is a flagship new build development in Rochester, consisting of 53 one and two bedroom apartments available to buy through shared ownership.

  • Ideally situated for commuters, PriME1 is located next to Rochester station, with trains running to London St Pancras in approx. 41 minutes, and London Victoria in approx. 46 minutes. For summer seaside away days, trains run to Whitstable, Broadstairs and Margate.
  • Rochester is an historic town, boasting the second largest cathedral in England, as well as being the childhood home of Charles Dickens. The high street maintains a quaint atmosphere, with boutiques, art galleries and antique shops. A flea market is held every month, making it a great place for vintage finds and local crafts. The town also has many bars, restaurants and pubs making it a vibrant cultural hub.
  • The development is ideally located for commuters, next to Rochester station. Fast and frequent train services run to London St Pancras (c.41 min) and London Victoria (c.46 min)
Plot number 13 Block B
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £65,625
Full market price £262,500
Monthly rent £451
Monthly service charge £128
Ownership Leasehold

Last few two bedroom properties remain - don’t delay viewing our last two bedroom apartments. Come and find out more.

NEW INCENTIVE! ONE YEAR'S FREE SERVICE CHARGE WORTH UP TO £1,945*

Prices
2 bedroom apartments from £62,500 (25% share of £250,000)

Specification
PriME1 is a high spec shared ownership development with contemporary interiors, integrated appliances and private winter gardens, it is no wonder that these properties are already 80% sold.

Travel
The development is ideally located for commuters, next to Rochester station. Fast and frequent train services run to London St Pancras (c.41 min) and London Victoria (c.46 min).

Call 0207 704 5618 to book your appointment or email sharedownership@savills.com for more information.

*Terms and and conditions apply. Applicants must meet all deadlines including the exchange deadline of 28 days. Standard reservation fee £500 is also reduced to £99 for the duration of this promotion.

Plot number B-04-06
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £66,875
Full market price £267,500
Monthly rent £460
Monthly service charge £128
Ownership Leasehold

Viewings and mortgage workshop 11th January - book a place to see the property and discuss your affordability with a mortgage advisor for the shared ownership scheme.

This 2 bedroom shared ownership apartment is located on the top floor in a 5 storey building on Corporation street in the development called Prime1. PRIME1 is a flagship new build development in Rochester, consisting of 53 one and two bedroom apartments.

The property features an open plan kitchen-diner/living area, 2 good size bedroom, fully fitted kitchen with integrated appliances and high quality fixtures and fittings. The property comes with one allocated parking space and private winter garden.

Full market value: £267,500
Share from: 25% - £66,875
Monthly rent: £460
Monthly service charge: £128
Lease length: 125 years

Incentive - reserve till the end of January and receive 1 year's free service charge and pay only £99 reservation fee.

  • Rochester is an historic town, boasting the second largest cathedral in England, as well as being the childhood home of Charles Dickens. The high street maintains a quaint atmosphere, with boutiques, art galleries and antique shops. A flea market is held every month, making it a great place for vintage finds and local crafts. The town also has many bars, restaurants and pubs making it a vibrant cultural hub.
  • The development is ideally located for commuters, next to Rochester station. Fast and frequent train services run to London St Pancras (c.41 min) and London Victoria (c.46 min)

FAQ's

Min share price from: £65,500 for a 25% share
Full price from: £250,000
Minimum deposit from: £3,125
Monthly rent from: £430
Bedrooms: 2
Bathrooms: 2

There are 3 available ranging from £65,500 for a 25% share to £66,875 for a 25% 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.

No, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Savills
Shared ownership
2 bedroom homes
25% share from
£62,500
Full price
£250,000
Minimum deposit
£3,125
Monthly rent
£434
Monthly service charge
£162