Drummond House
11 Victory Parade, London, SE18 6FW
For sale
Shared ownership
Live from space album cover

National Rail Woolwich Arsenal Railway Station – (0.2 mile 5 minutes by walking)...

Register interest

from £93,750 with min. deposit £9,375
Overview

OVERVIEW

One bedroom ninth floor flat, in the Royal Borough of Greenwich, available to buy through Shared Ownership. Full market value £375,000, 25% share available, share price £93,750.

AFFORDABILITY

Full Market Price: £375,000

Share Percentage: 25%

Equity Price: £93,750

Minimum Income: £40,150

Monthly Mortgage**: £474.18

Monthly Rent: £471.12

Other Housing Association Service Charge*: £155.46

Notting Hill Administration Fee: £13.50

Council Tax: £110.33

Estimated Total (per month): £1,114.26 (Excluding Council Tax)

 *Service Charge payable to Rendell & Rittner Ltd

**Estimate: The monthly mortgage is based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage. The rent may increase each year, the increase calculation will be specified in the lease.

SPECIFICATION

Ground floor

Communal entrance hall and passenger lift

Ninth floor

Bedroom, Bathroom with WC, Hallway, Reception with open plan kitchen

 External

Balcony

 GIA

51 square metres as per RICS valuation

 Accessibility rating

A

 EPC rating

B

 Length of lease

121 years

 Borough

Greenwich

 

 

 

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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