Shared ownership schemes are a government backed initiative that helps people to get onto the property ladder. They allow you to buy 25-75% of your home and pay rent on the remaining share of the property. You will need to take out a small mortgage to pay for the share of the home which you will own. This makes them far more affordable than other new homes in the London area, such as this development of new homes for sale in Brookmans Park.
Monthly mortgage and rent can work out cheaper than buying straight up, sometimes shared ownerships can be cheaper than or the same price as privately renting. An Independent Mortgage Advisor can help you work out these calculations and see which is best financially for you. Later on if you want to you can buy a larger share in a property, this is called stair casing. You can either do this and go straight to owning a large share of a property, or work your way up in three stages to owning 100% of a property. The more shares you buy the less rent you will have to pay.
The cost f your next share will all depend on how much your house is currently worth, at the time. If your property goes up in value then your share will cost more than your first share, but if the value has gone down then your share will be cheaper than your previous shares price. If you own all of your property you can sell it yourself, but once up for sale the housing association will have the right to buy it back first.
Marine Wharf are a company who are proud to offer an amazing collection of one, two, three bedroom apartments, situated in Surrey Quays. To be eligible for these apartments you must live and/or work in Bexley, Bromley, Lewisham, Southwark or Greenwich. People, who live in one of the areas above, are council tenants, housing association tenants or serve in the ministry of defence get priority when it comes to the apartments. All applications are welcome though.
These apartments are surrounded by stunning contemporary architecture, parkland and many shopping centres. There are local attractions such as a wildlife reserve and sports centre. Plus, if you decide to take transport, such as the train, car or the River Thames clipper bus you can go into central London or go to the nearby bowling alley, cinema and leisure centres.
The apartments already include some amazing features such as an integrated Zanussi fridge/freezer, Zanussi washer/dryer, Zanussi oven and a towel radiator in the bathroom as well as much more. Some of the homes are also wheelchair accessible.…