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Ashton House

Shared ownership

Cottington St, London, SE11 4BN

For sale
Shared ownership
Photo of Ashton House
Live from space album cover

from

£225,000

with min. deposit

£22,500

45% Share from
£225,000
Full market price
£500,000
Minimum deposit
£22,500
Monthly rent
£505
Monthly service charge
£249.09
Annual ground rent
£100
Reservation free
£500

2 bedroom flat

SHARED OWNERSHIP

Full market value - £500,000

You pay (45%) - £225,000

Monthly Rent - £505.31

Monthly Service Charge - £249.09

Annual Ground Rent - £100

125 year lease commenced in April 2019 (120 years remaining)

New guidance, from the Royal Institute of Chartered Surveyors (RICS), means that lenders should no longer require an EWS1 form for this property. However, we cannot guarantee that all Mortgage lenders, brokers and valuers are utilising the same criteria.

This apartment is close to Kennington Underground station (Northern Line), Elephant & Castle Mainline and Underground stations (Bakerloo and Northern lines, plus overground services to …

Features

Bedrooms2
Bathrooms1
Reception rooms1
Furniture statusunfurnished
Floor area60
Number of floors1
Entrance floor1st floor
Tenureleasehold
Lease years120
Key Information Document

from

£225,000

with min. deposit

£22,500

45% Share from
£225,000
Full market price
£500,000
Minimum deposit
£22,500
Monthly rent
£505
Monthly service charge
£249.09
Annual ground rent
£100
Reservation free
£500
L&Q

L&Q

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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