3 bedroom apartment for sale
Knowles Court, 18 Brumwell Avenue, SE18 6AS
Share percentage 75%, full price £490,000, £36,750 Min Deposit.
Share percentage 75%, full price £490,000, £36,750 Min Deposit.
Monthly Cost: £2,451
Rent £354,
Service charge £242,
Mortgage £1,855*
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
Modern 3 Bedroom Apartment available on shared ownership in Greenwich
Description
Welcome to this modern, spacious three-bedroom apartment on the sixth floor of Knowles Court. Constructed in 2017, this well-maintained property combines contemporary design with practical features and is situated in a thriving area of London, SE18.
Property Highlights:
- Generous Layout: Approximately 90m² of living space, including a bright open-plan kitchen and living area, three bedrooms, and two balconies with impressive views.
- Modern Kitchen: Equipped with a built-in oven, hob, extractor fan, integrated fridge freezer, and freestanding washing machine.
- Stylish Bathroom: Features a shower over the bath, with tiled flooring for a polished finish.
- Interior Finishes: Laminate wood flooring in the kitchen and living room, carpeted bedrooms for comfort, and two storage cupboards – one near the bathroom and another in the main bedroom, which also includes fitted wardrobes.
- Communal Heating System for efficient warmth throughout the year.
- Video and Audio Door Entry System for added security.
- Parking is available on a permit basis.
- Located in a mixed social and private residential area with easy access to local amenities and transport links, making commuting and daily activities convenient.
This property is available on a shared ownership scheme for a 75% share please see below a pricing breakdown:
- Full Market Value: £490,000.00
- 75% Share Sale Price: £367,500.00
- Monthly Rent: £354.20
- Monthly Service Charge: £241.82
If you are interested in this property please submit an enquiry and we will get in touch with you, the next step will be to complete an initial affordability and eligibly check, once this comes back as successful we will be able to offer a viewing.
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: D
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 75%, full price £490,000, £36,750 Min Deposit. Calculated using a representative rate of 4.59%
