Flat for sale in Montreal House, Surrey Quays Road, London SE16

Shared ownership (Advertised price represents 30% share. Full market value £600,000). A spacious apartment within the Maple Quays development. This third-floor property features a twenty-one-foot reception room with open-plan kitchen area and a balcony overlooking the communal garden. There is a generously-sized main bedroom, a second double bedroom and a bathroom large enough to include a separate shower cubicle. Modern insulation standards and a communal heating and hot water system make for a very good energy-efficiency rating. The development has a concierge and residents' gym and is just minutes from Canada Water Station for the Jubilee Line and London Overground. This apartment also benefits from a space in the underground car park.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years less 5 days from 25/03/2009).
Minimum Share: 30% (£180,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £950.63 per month (subject to annual review).
Service Charge: £349.42 per month (subject to annual review).
Ground Rent: £150.00 for the year.
Guideline Minimum Income: Dual - £81,000 (based on minimum share and 10% deposit) Single - £88,300 (based on minimum share and 20% deposit).
Council Tax: Band E, London Borough of Southwark. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Third Floor

Entrance Hall
18' 0" x 5' 2" (5.49m x 1.57m)

Reception
21' 7" x 13' 0" max. (6.58m x 3.96m)

Kitchen
included in reception measurement

Balcony
9' 7" x 5' 8" (2.92m x 1.73m)

Bedroom 1
17' 1" max. X 8' 3" (5.21m x 2.51m)

Bedroom 2
10' 9" x 8' 5" (3.28m x 2.57m)

Bathroom
9' 8" x 8' 4" (2.95m x 2.54m)