2 bed flat for sale

Merlin Court, 28 Handley Drive, London SE3

Shared Ownership

This superb modern home is available to buy from as little as £123,250 with a 29% share!

Offered for sale with no onward chain, this well proportioned first floor apartment is set within a modern development and benefits from parking.

The apartment features a spacious entrance hall, leading through to a bright and airy open plan lounge/kitchen/diner with direct access to a private balcony. There are two good sized double bedrooms, with the principal bedroom benefiting from built-in storage and access to a 2nd balcony. A contemporary family bathroom completes the accommodation.

SE3 is a highly regarded area known for its blend of green space and village style charm. Nearby you’ll find a range of local shops, cafés, restaurants and supermarkets catering to daily needs. The area is also close to beautiful open spaces such as parks and commons, perfect for walking, running or relaxing outdoors. Reputable schools, leisure facilities and community amenities are all within easy reach.

The property benefits from excellent transport connections. Nearby rail stations provide regular services into Central London, making commuting straightforward. Multiple bus routes serve the area, offering convenient links to surrounding neighbourhoods and key destinations. Road users also have good access to major routes for travel in and out of London.
Pricing & affordability


Full Market Value: £425,000

29% Share Price: £123,250 (rent £1,151.17pcm)
Minimum 5% Mortgage Deposit (29% share): £6,163
Approximate Service Charges: £460.89 pcm*
Lease: 115 years remaining
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.