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Mermaid House

Shared ownership

Mermaid House, Cross Street, Portsmouth, PO1 3GF

For sale
Shared ownership
Photo of Mermaid House
Live from space album cover

from

£38,750

with min. deposit

TBD

25% Share from
£38,750
Full market price
£155,000
Monthly rent
£266
Monthly service charge
£136.32

1 bedroom house

Could you imagine yourself  living in this light, modern 3rd floor apartment.  Located in a great location close to the heart of the historic city offering an abundance of discounted designer outlets, coffee shops, bars and restaurants, it is the perfect place for exploring, shopping, dining and taking in the stunning sights of this coastal city.

The apartment boasts fantastic open plan kitchen/living area. The kitchen is modern, well equipped and has ample worktop and cupboard space. Large windows allow light to flood in making the space feel bright, airy and fresh.

The double bedroom has plenty of space to display all your personal …

Features

Bedrooms1
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

from

£38,750

with min. deposit

TBD

25% Share from
£38,750
Full market price
£155,000
Monthly rent
£266
Monthly service charge
£136.32
Southern Home Ownership

Southern Home Ownership

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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