Shared ownership opportunity for first-time buyers

Shared ownership on the River Thames is now an option for a few Londoners – all of whom are likely to be first-time buyers – with the development of flats at an exclusive site on the Greenwich Peninsula.

The Platinum Riverside apartment block initially went on sale around two years ago and attracted buyers from destinations as far afield as China, Russia, UAE, Hong Kong and Singapore. Now, in line with housing rules, the developers, Bellway Homes, are now offering first-time buyers on incomes no greater than £50,000 the opportunity to buy into a shared ownership scheme.

Yet, the prices are still likely to prove prohibitive to many first-time buyers, with only limited equity available: a 25 percent share in a £335,000 one-bedroom flat will cost £83,750 , while a 25 percent share in a £460,000 two-bedroom flat will cost £115,000.

The flats are said to be attractive and contemporary in style and come with either a balcony or a terrace, river views, wood floors and state-of-the-art integrated appliances.

Furthermore, all residents, including those with shared ownership, will be able to take advantage of a gym and a communal sky garden.

In keeping with shared ownership rules, priority is given to those working or already living in the Greenwich area.

For advice and information in relation to shared ownership property transactions and your options, contact the residential conveyancing solicitors at Healys today or, click here for more information.