Shared ownership at Longitude Apartments, 7 Addiscombe Grove, CR0 5BS, Croydon, CR0 5BS

Longitude Apartments, 7 Addiscombe Grove, CR0 5BS

Addiscombe Grove, London, CR0 5BS

For sale
Shared ownership
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Overview

Eligibility You may be eligible for this property if: You have a gross household income of no more than £90,000 per annum. You are unable to purchase a suitable home to meet your housing needs on the open market. You do not already own a home or you will have sold your current home before you purchase or rent. This 2nd floor flat consists of a hallway, open plan lounge/kitchen, A double bedroom and a family bathroom. Double glazed windows & Gas central heating. Benefiting with built in storage in the hallway & a secure entry system.   Entrance Hall Leading to all rooms, Carpeted floor, Gas central...

Features

Bedrooms1
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

Register interest

from £114,750

with min. deposit TBD

45% Share from
£114,750
Full market price
£255,000
Minimum deposit
TBD
Monthly rent
TBD
Monthly service charge
£228.46
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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