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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The Reach SO, 1 bed homes


Thames Reach Road, Thamesmead, Greenwich, SE28 0NY

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Shared ownership

Starting prices

25% share from
£68,750
Full price
£275,000
Minimum deposit
£8,250
Monthly rent
£473
Monthly service charge
£155

Overview

NOW 85% RESERVED | Online Viewings Now Available


Online Viewings now available. Our team are all set up to hold online viewings, giving you the chance to ask questions and have a virtual guided tour of homes at The Reach. Register your interest today to book an online viewing appointment.

Welcome to The Reach – a flagship collection of new 1 bedroom homes available through Shared Ownership in Thamesmead.

Boasting delightful 1 bedroom apartments with open plan layouts; The Reach offers thoughtfully designed living spaces for households of all sizes. And with some homes benefiting from allocated parking, residents can explore the local area and relish in all it has to offer.

As well as private outside spaces to all apartments (with either a balcony or garden space), The Reach will offer first-time buyers contemporary homes within reach of local travel destinations including London Bridge and Charing Cross.

London-living has never been so simple.

 


Local area information

The Reach is ideally located within the iconic Thamesmead district.

Thamesmead has evolved into an exciting town centre. With more than £1 billion invested in the regeneration of Thamesmead, the area has seen a major influx of new leisure, cultural and commercial facilities – with The Reach ideally positioned at its core.

Located in Thamesmead, The Reach, is connected to the best of South East London With Abbey Wood to the east, Blackheath to the south and Greenwich to the west. Central London is easily accessible, as part of a burgeoning transport network.

Cosmopolitan and engaged, with a spirited community – the future of Thamesmead is bright.


Plot availability

Plot number Apartment 102, Galingale Court
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £68,750
Full market price £275,000
Monthly rent £473
Monthly service charge £155
Plot number Apartment 109, Galingale Court
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £82,500
Full market price £330,000
Monthly rent £567
Monthly service charge £209
Plot number Apartment 301, Galingale Court
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £97,500
Full market price £390,000
Monthly rent £670
Monthly service charge £241

FAQ's

Min share price from: £68,750 for a 25% share
Full price from: £275,000
Minimum deposit from: £8,250
Monthly rent from: £473
Bedrooms: 1
Bathrooms: 1

There are 3 available ranging from £68,750 for a 25% share to £97,500 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.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Peabody
Shared ownership

Starting prices

25% share from
£68,750
Full price
£275,000
Minimum deposit
£8,250
Monthly rent
£473
Monthly service charge
£155