1 bedroom apartment for sale
Peel Place, Shooters Hill, SE18 4AA
Share percentage 42%, full price £285,000, £11,970 Min Deposit.
Share percentage 42%, full price £285,000, £11,970 Min Deposit.
Monthly Cost: £1,082
Rent £378,
Service charge £100,
Mortgage £604*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Eligibility Criteria for Shared Ownership
To qualify for a Shared Ownership home, there are a few key requirements you need to meet:
- Age: You must be at least 18 years old.
- Income: If you live outside of London, your total household income must be less than £80,000 per year. In London, the income cap is £90,000 per year.
- Property Ownership: You cannot currently own another home. Shared Ownership is mainly for first-time buyers, but if you do own a property (in the UK or abroad), you need to be in the process of selling it.
- Affordability: You should not be able to afford to buy a suitable home on the open market.
- Financial History: You must have a good credit history, with no outstanding debts or County Court Judgements (CCJs), and show that you can afford the payments and costs involved.
- Deposit & Costs: Typically, you’ll need a deposit of 5-10% of the share you're purchasing and access to around £4,000 to cover additional costs like legal fees and surveys, although this figure can vary.
Who Gets Priority for Shared Ownership?
Shared Ownership is available to anyone who meets the eligibility criteria, including first-time buyers, people looking to move up, downsize, or relocate. While there are no priority groups in areas where Shared Ownership homes are in short supply, military personnel and former members of the Armed Forces (discharged within the last two years) are given priority under government schemes.
In some cases, local authorities may require that applicants who live or work in the area be given preference, depending on local planning policies.
Affordability & Eligibility Check
Each applicant will need to complete an affordability and eligibility check with an independent mortgage advisor. Once you submit an enquiry, we will send you a link to start this process.
Summary
Charming One Bedroom First Floor Apartment Available On Shared Ownership
Description
Welcome to this charming one-bedroom, first-floor flat in a beautifully converted four-storey block with six units, originally transformed in 2009. Nestled in the vibrant Shooters Hill area, this residence enjoys the perfect balance of privacy within a community of mixed social and private housing.
Property Highlights:
- Spacious Living Area: Offering approximately 51m² of well-designed living space, including a cosy open-plan lounge and kitchen, comfortable double bedroom, and modern bathroom.
- Period Features with Modern Comforts: Housed in a solid masonry building with traditional Crittall windows, this flat combines the appeal of period architecture with contemporary interiors.
- Parking: Allocated on a permit basis for added ease.
- Gas Central Heating
- Audio Door Entry System
- Interior Finishes: A tiled bathroom, carpeted living room, bedroom, and hallway, and a sleek laminate floor in the kitchen.
- Kitchen Appliances: Fitted with a built-in oven and hob, integrated fridge freezer, and a freestanding washing machine for a complete culinary setup.
- Bathroom: Features a stylish shower over bath for relaxing or quick morning routines.
- Practical Storage: Two generously-sized storage cupboards, one in the entrance hall and another in the kitchen, provide ample space for personal belongings.
- Council Tax Band B
Location:
- Shooters Hill, SE18, is a sought-after area in the Royal Borough of Greenwich known for its elevated position with stunning views across London and Kent. The area offers:
- Green Spaces: Nearby Oxleas Wood, Shrewsbury Park, and Severndroog Castle provide scenic walking spots and panoramic views.
- Housing: A mix of period properties, Victorian conversions, and modern flats, offering character and choice for residents.
- Local Amenities: A selection of local shops, pubs, and cafes with further options in nearby Woolwich and Blackheath. Schools in the area are well-rated.
- Transport: Close to Woolwich Arsenal and Dockyard stations, with easy train and DLR access to central London, plus reliable bus services.
- Community Feel: Known for its history, greenery, and community vibe, Shooters Hill suits those seeking a peaceful, village-like atmosphere within London.
Particulars
Tenure: Leasehold
Lease Length: 109 years
Council Tax Band: B
Property Downloads
Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 42%, full price £285,000, £11,970 Min Deposit. Calculated using a representative rate of 4.59%
