Flat 18, 243 Rye Lane, London

Shared Ownership

This superb modern apartment with a large private terrace is available to buy for as little as £142,500 for a 30% share.

Offered to the market stands this beautifully presented two bedroom, fifth floor apartment in Rye Lane, London.

The apartments accommodation includes an entrance hall with ample storage, two double bedrooms with fitted storage in the master bedroom, family bathroom and large open plan kitchen/living room.

The property is a 5 minute walk to Peckham Pye Park and Consoort Park and is around the corner from incredible restaurants and bars of Peckham and a short walk to Nunhead and East Dulwich.

This apartment has plenty of cafes, restaurants and shops close by including Morrisons, Lidl and Tesco Express. There are schools and gyms on your doorstep too. Short walk to Peckham Rye Station with quick access to London Victoria (13 mins), London Bridge (14 mins), Blackfriars (15mins), Clapham Junction (25 mins), Waterloo (26 mins) and Canary Wharf (29mins).

This property further benefits from having secure bike storage, video entry system and had a private terrace spanning from the master bedroom to the living room.

PRICING AND AFFORDABILITY

Full market value: £475,000
30% Share Price: £142,500
Rent on unowned share: £1131.76 pcm
Service charge: £243.26 pcm
Lease: Approx. 121 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.

** This home can also be purchased outright (100% of the value) which is £475,000 and a purchaser would not need to meet the eligibility criteria listed above.