Shared ownership at 34 Long lane, Southwark, SE1 4NN

34 Long lane

Long Lane, Southwark, SE1 4NN

For sale
Shared ownership
Live from space album cover

Overview

The property is a first-floor studio flat within a large six-storey purpose built block of forty flats arranged over the upper five floors available through Shared Ownership in London The subject property is within reasonable walking distance of the nearest rail mainline station London Bridge, with services into Central London. Other public transport links include nearby Borough Underground Station (Northern Line), numerous bus routes into the City and West End, as well as to the south and Waterloo station. The property is close to the local shopping and recreational facilities within the area. • Studio flat• First floor&b...

Features

Bedrooms1
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

Register interest

from £91,250

with min. deposit £4,563

25% Share from
£91,250
Full market price
£365,000
Minimum deposit
£4,563
Monthly rent
TBD
Monthly service charge
£163.66
Annual ground rent
TBD
Reservation free
TBD
Administration free
TBD

Southern Home Ownership

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

Read more on the Shared Ownership FAQ

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

Some properties require you to live or work in the local area in order to be eligible to buy them. By knowing the areas in which you live and work, we can make sure you see everything available to you.

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