2 bed Flat For Sale £220,000
Portway House, 2a Ossory Road, London, SE1

SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £550,000). A selection of recently-redecorated duplex-apartments are now available in Portway House. All the properties have at least one balcony and feature attractive, fitted kitchens, stylish bathrooms and useful, built-in storage. The block is set within a modern gated development just off the Old Kent Road. Well insulated walls, roof and floor, high performance glazing and a communal heating/hot water system all contribute towards very good energy-efficiency ratings. There are supermarkets and a wide range of other shops just minutes away plus London Bridge, Waterloo and a variety of other transport connections and places of interest can be easily reached by local bus.

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: L&Q.
Tenure: Leasehold (approximately 115 years remaining).
Minimum Share: 40% (£220,000). Please note that applicants should purchase the maximum share that they can afford and sustain.
Shared Ownership Rent: £861.41 per month (this figure is from April 2024 and subject to annual review).
Service Charge: £240.67 per month (this figure is from April 2024 and subject to annual review).
Ground Rent: £100.00 for the year.
Guideline Minimum Income: Dual Income £82.3k 10% deposit £22k Single - £88.7k 20% deposit £44k (based on minimum share).
Council Tax: Band D, 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. There is no parking space offered with this property. Please visit for questions about keeping pets in the property.

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.