Hermitage Road, Croydon, SE19 3JS
with min. deposit
2 bedroom flat
Full market price
Monthly service charge
Number of floors
Full market value: £470,000
5% mortgage deposit: £23,750
40% equity loan: £188,000
The scheme slots neatly into the existing context and features distinctive brickwork detailing giving it presence and character. Many of the homes have a pleasant outlook over mature trees, and we're providing new landscaping to add to the green aspect even more.
Designed by Stirling Prize-winning architects Mikhail Riches, this attractive building contains a handful of two bedroom apartments, all with a balcony, and our unique interior specification, and are available with Help to Buy. There are also two houses across the mews.
Help to Buy is an equity loan scheme to help you buy a new home. If you have a 5% deposit and can cover 75% of the value of the home with a mortgage (or 55% in London), the Government will lend you up to the remaining 20% (40% in London) in the form of an equity loan that carries 0% interest in the first 5 years. This is available on a variety of new-build properties for first time buyers and is subject to the property price, the subsequent price cap in that region and the developer offering the option.
You can read more on the Help to Buy FAQ
The rules for shared ownership are different to a private purchase. In short, as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Help to Buy is available to first time buyers only and the property value itself must fall below a price threshold for that specific area which varies in terms of the average house price in the region.
Read more about eligibility in the FAQ
with min. deposit