Drummmond House - NH31
Drummond House, 11 Victory Parade, Plumstead Road, London, SE18 6FW
For sale
Shared ownership
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Overground Woolwich Arsenal (0.32 km) Plumstead (0.97 km) Underground Woolwich Arsenal (0.32 km)...

Register interest

from £133,000 with min. deposit £13,300
Overview

Fourth Floor one-bedroom home in the London borough of Greenwich for £133,000 (35%) share price of £380,000 full market price), available through Shared Ownership.

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SPECIFICATION

Ground Floor

Entryphone system to Communal Lobby.

Second secure door to Communal Hallway,

Passenger Lift and Stairwell.

Fourth floor

Bedroom. Reception/Kitchen.

Hallway. Bathroom with WC.

External

Balcony accessed from Reception room

GIA

54 sq. m

Accessibility rating

A

EPC rating

B

Length of lease

121 Years

Borough

Greenwich

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ELIGIBILITY

You will need to be earning a guidance income of at least £41,654. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £13,300Total approximate savings required £17,300.

Important borough specific eligibility criteria

Greenwich

Priority will go to applicants with a connection to the borough of Greenwich, however all applicants can apply.

Applicants must be earning under £90,000 to be eligible for one, two- and three-bedroom apartments.

If you are an existing homeowner, we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to need housing by your local council.

Monthly Fees

*Monthly Mortgage: £672.70

Monthly Rent: £399.76

Service Charge: £83.43

Estimated Total (per month): £1,155.89 excluding council tax

*Estimate – The monthly mortgage is based on an interest rate of 4.5% with a capital and interest repayment over 25 years. It is based on a 10% mortgage. The rent may increase each year, the increase calculation will be specified in the lease.

 

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.
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.
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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