Shared ownership at Austen Apartments, 1 Weighton Road, SE20 8FB, Bromley, SE20 8FB

Austen Apartments, 1 Weighton Road, SE20 8FB

1 Weighton Road, Bromley, SE20 8FB

For sale
Shared ownership
Live from space album cover

Overview

The current market value is £290,000 for 100%. The minimum 50% share available is priced at £145,000, current rent payable £334.62 pcm, rent is subject to annual reviews. Service charges are currently £115.61 pcm. Viewings by appointment only. Please contact the vendor to arrange – David Tel: 079 615 82722 Email: innbusinesspubs@hotmail.com If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to danielle.head@optivo.org.uk or call 0208 03 62838 Application forms need to be returned ...

Features

Bedrooms2
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

Register interest

from £145,000

with min. deposit £7,250

50% Share from
£145,000
Full market price
£290,000
Minimum deposit
£7,250
Monthly rent
TBD
Monthly service charge
£115.61
Annual ground rent
TBD
Reservation free
TBD
Administration free
TBD

Optivo (Resales)

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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