2 bedroom apartment for sale
Flat 12 - Portway House, Ossory Road, SE1 5XY
Share percentage 30%, full price £500,000, £7,500 Min Deposit.
Share percentage 30%, full price £500,000, £7,500 Min Deposit
Monthly Cost: £2,009
Rent £859,
Service charge £314,
Mortgage £836*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for this Shared Ownership development you would need to meet the following criteria:
• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
Summary
This superb modern home is available to buy from as little as £150,000 with a 30% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £150,000 with a 30% share!
Discover contemporary living in this beautifully designed split-level two bedroom apartment, ideally situated on Ossory Road. This modern home offers a perfect blend of style, comfort, and convenience over two floors.
Upon entering the second floor, you'll find a generously sized double bedroom (12' x 12'), complete with direct access to a private balcony, providing a peaceful outdoor retreat. This floor also hosts a sleek, modern bathroom suite.
Ascending to the third floor, the expansive open plan kitchen and living area (25'7" x 12') creates a bright and versatile living space with access to another balcony, ideal for both relaxing and entertaining. The contemporary kitchen is equipped with modern appliances and ample counter space. This level also includes a second bedroom (12' x 7'3"), perfect as a guest room, home office, or nursery, with its own access to a third private balcony.
Located in the vibrant and ever evolving area of Bermondsey, this home benefits from excellent local amenities. Enjoy an array of independent cafes, restaurants, and boutiques nearby, as well as the popular Bermondsey Street and Maltby Street Market. Green spaces such as Southwark Park and Burgess Park are within easy reach for leisure and relaxation.
Transport links are exceptional, ensuring seamless connectivity across London. South Bermondsey Station (National Rail) is a short walk away, providing direct services to London Bridge in just minutes. Additionally, Bermondsey Underground Station (Jubilee Line) and Elephant & Castle Station (Bakerloo and Northern Lines) offer quick access to Canary Wharf, the West End, and beyond. Numerous bus routes and cycling paths further enhance commuting options.
The location is fantastic, the many delights of SE1 and SE15 are all local and easily reachable. Transport links are plentiful; Burgess Park is a few moments away with transport links via Elephant & Castle, Bermondsey & South Bermondsey Stations and major bus routes across the City. There are a number of large supermarkets, shops and restaurants nearby, with an Asda Superstore just a few hundred feet from the development.
PRICING & AFFORDABILITY
Full Market Value: £500,000
30% Share Price: £150,000 (rent £859.38pcm)
Minimum 5% Mortgage Deposit (30% share): £7,500
Approximate Service Charges: £314.35pcm*
Shared Ownership Lease: approx. 115 years
Council Tax Band: D
EWS1 CERTIFICATION IS AVAILABLE FOR THIS BLOCK - B1/B2 RATING- L&Q are working with an independent panel of Fire Engineers to review any L&Q building inspections conducted by Tri Fire. Where the panel is not satisfied with the inspection and certificate awarded, we will instruct a new inspection of the building as soon as possible.
Please follow this link to our public statement - https://www.lqgroup.org.uk/media-centre/news/building-safety-inspection-programme-update
Key Features
Modern Shared Ownership home
Available immediately with no chain
Open plan living space
Three private balconies
Less than 1 mile from South Bermondsey Station
Walking distance to numerous shops and amenities
Particulars
Tenure: Leasehold
Lease Length: 115 years
Council Tax Band: D
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 30%, full price £500,000, £7,500 Min Deposit. Calculated using a representative rate of 5.03%
