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Effra Parade - Lambeth

Shared ownership

Effra Parade, London, SW2 1PF

For sale
Shared ownership
Photo of Effra Parade - Lambeth
Live from space album cover

from

£171,500

with min. deposit

£17,150

35% Share from
£171,500
Full market price
£490,000
Minimum deposit
£17,150
Monthly rent
£518
Monthly service charge
£142.69

2 bedroom flat

Once you have registered your interest, you will receive an email to book your viewing.

The Effra Parade property is a two bedroom, second floor apartment, with an approximate size of 68 sq. m situated in a block of flats built in 2007. It benefits from a communal courtyard. The lease remaining on the property is 109 years.

Features

Communal Garden

Bedrooms2
Bathrooms1
Reception rooms1
Furniture statusunfurnished
Number of floors1
Entrance floor2nd floor
Tenureleasehold
Lease years109

from

£171,500

with min. deposit

£17,150

35% Share from
£171,500
Full market price
£490,000
Minimum deposit
£17,150
Monthly rent
£518
Monthly service charge
£142.69
Peabody

Peabody

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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