Lockesley Drive by Legal & General Affordable Homes in Orpington

Shared Ownership 1 & 2 Bedroom Apartments and 3 Bedroom Houses in Orpington

Owning your ideal home with close links to the city in a picturesque setting, thanks to the Shared Ownership scheme it may be easier than you thought. Purchase your dream home from as little as a 30% minimum share.

Lockesley Drive is a contemporary development comprising of one and two bedroom apartments and three bedroom homes just minutes away from central London. Built to the highest standards featuring bright contemporary interiors in addition to a spacious open-plan living/dining room. Shared Ownership could be an ideal alternative to a mortgage or outright purchase, particularly for those on a more limited budget.

Key features:
• Integrated Zanussi appliances
• Turf to rear garden
• Video entry phone security system at the apartments
• Allocated parking
• NHBC 12 year warranty

Price breakdown:
Minimum share: 30%
Minimum share value: £82,500 - £96,000
Full market value: £275,000 - £320,000
Estate charge per year: £1,373 - £1,724
Monthly rent on un-owned share: £441.15 - £513.33

What is Shared Ownership?
Shared Ownership is a more affordable way to have the security and stability of owning your own home. Shared Ownership is a government backed part buy/part rent scheme designed to help you take that first step on the property ladder. The scheme enables buyers to purchase a share of the value of the home – this is usually between 25 to 75 percent of the value of the property – and pay a subsidised rent on the remaining portion. You have the option to buy a bigger share in the property at a later date (known as Staircasing).*

Eligibility criteria:
To be eligible for a home at Lockesley Drive, you’ll need to:

• Have a gross household income of no more than £55,000 for a 1 bed, £68,800 for a 2 bed and £73,400 for a 3 bed home
• Be unable to purchase a suitable home to meet your housing needs on the open market
• Not already own a home or you will have sold your current home before you purchase

If you don’t meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others, so take a look at our website for more information.

The images shown are indicative and intended to act as a guide only.