Move to Blackfriars Road, London with a deposit of as little as £7,375

If you’ve dismissed the idea of living in Central London due to the capital’s steep property prices, now is your chance to purchase a property at The Residence, Blackfriars Road with a deposit of less than £7,500!

Leading affordable housing provider, Affinity Sutton, has recently launched a collection of apartments at The Residence which are available through shared ownership, allowing buyers to purchase as little as a 25 per cent share of a home that they can still call their own.

There are ten, one and two-bedroom apartments available; each has been designed to suit a range of buyers from singles or couples to young families and there is even a two-bedroom wheelchair-accessible apartment.

The homes are fitted to a high specification with spacious, open-plan living areas with large windows enabling natural daylight to fill the rooms and a private balcony or terrace with spectacular views of London’s stunning skyline.

The Residence is perfectly situated in the midst of a wide range of amenities and attractions. Whether you’re a foodie, an artslover, a movie fanatic or a theatre bu?, whether you love pubs and clubs or cafés and boutiques, Blackfriars is a great place to be.

The nearest tube station, Southwark, is only a two-minute walk from The Residence and ten minutes’ walk from Waterloo mainline railway and tube stations. There are also direct bus services to the City from Blackfrairs Road, which is on the London ‘red route’.

Through shared ownership, buyers purchase a share of a property (25 to 75 per cent) and pay a reduced rent to Affinity Sutton on the remainder. Only 5% deposit is required on the share bought.

A 25 per cent share of a one-bedroom apartment is available at £147,500 (the full purchase price is £595,000), with a 5% deposit needed of just £7,375. Similarly, a 25 per cent share of a two-bedroom apartment is available at £165,000 (the full price is £660,000), with a 5% deposit of just £8,250. The wheelchair-accessible apartment is priced at £186,250 (the full purchase price is £745,000), with a 5% deposit of £9,313 for a 25 per cent share.

Gemma Harris, senior sales manager at Affinity Sutton, comments: “Raising 5% of the full purchase price of a home in today’s market is still out of reach for many, particularly in central London, where prices are way above the national average. Shared ownership makes buying a home a realistic proposition for many with total outgoings usually significantly less than renting privately; the average cost of renting a two-bedroom apartment in Southwark is approximately £2,388 per month, while mortgage repayment and rent on a 25 per cent share of a home at The Residence is just £1,225 per month based on a two-bedroom apartment, inclusive of the estimated service charges of £195.”

For more information email: sales[at]affinitysutton.com.

Information on all Affinity Sutton developments is available on the website: affinitysutton.com