1 bed flat for sale

Maltby Street, London SE1

Shared Ownership

This superb modern home is available to buy from as little as £161,250 with a 25% share!

A one bed fifth floor apartment presented in good condition and offered to the market with no onward chain complications and an extended lease on completion.

The accommodation is bright and spacious throughout, comprising entrace hall with storage, bathroom, spacious double bedroom and an impressive open plan 21.5 ft fitted kitchen/living/dining space with doors to a good size private balcony.

Arc House is situated within a residential area in Bermondsey in the borough of Southwark.
The development is close to Maltby Street Market / Ropewalk, which is popular for food, independent shops and eateries. It is also within good proximity to parks, the river, and cultural spots in SE1 / Southwark / Bankside etc. Bermondsey Street and Tower Bridge Road are within easy reach of Arc House which both provide cafes/restaurants, shops and amenities.
Nearby tube stations provide regular services around London via the Northern and Jubilee lines.
Pricing & affordability


Full Market Value: £440,000

25% Share Price: £110,000 (rent £756.25 pcm)
Minimum 5% Mortgage Deposit (% share): £5,500
Approximate Service Charges: £407.85 pcm*
Lease: 990
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 shared ownership 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.

** This home can also be purchased outright (100% of the value) which is £440,000 and a purchaser would not need to meet the eligibility criteria listed above.