Halton Court offers an alternative to equity release schemes

According to leading insurance company LV, 28% of working homeowners over 50 (1.9 million people) plan to access the equity in their home to help fund their retirement. While there are many equity release schemes available, downsizing is a popular choice and at Viridian’s Halton Court development, over 55’s can purchase a stunning new home with a great range of facilities and access greater funds to enjoy their retirement by buying up to 75% of the property.

Felicity Gentle, Development Sales and Marketing Manager of Viridian Housing explains: “We have designed Halton Court to specifically meet the needs of the over 55’s. Purchasers can buy up to 75% of the full market value of a property, enabling them to release additional funds when they downsize from their existing home. If they buy the maximum 75% share of the property, they will also not have to pay rent on the remaining 25% share.”

Felicity continues: “This is great news for people who are want to fully enjoy their retirement, whether it be travelling or taking up new hobbies, without having any money worries. It also offers a great alternative to equity release schemes where people pay interest rates of up to 7.5% on a lump sum released from their existing home, which can mean their payments double every 11 years, or they sell all or a share of their existing home. At Halton Court, purchasers can be safe in the knowledge that they own 75% of a property from which their loved ones will benefit in the future.”

The two bedroom apartments at Halton Court are available from £162,500 based on a 50% of a property with a full market value of £325,000. Purchasers pay rent on the remaining percentage of the property, which is owned by Viridian Housing. However rent is not charged to purchasers who buy the maximum 75% share of the property.

Perfect for the over 55’s, Halton Court offers a great range of communal facilities including an on-site subsidised, waiter serviced restaurant, residents lounge, guest suite and two winter gardens on the fifth floor. Residents also have access to a range of amenities including a 24 hour concierge service, cafe bar, hair salon, internet area, spa bath, gardening room, residents’ library and much more.

Every apartment at Halton Court has been cleverly designed to make the maximum use of the interior space, and features a high quality, contemporary style specification. Each property also benefits from generous private outside space in the form of a large, decked balcony or terrace.

Thanks to the development’s location within Kidbrooke Village, one of London’s largest regeneration schemes, residents have access to an even greater range of facilities. This includes a new complex of shops, restaurants and community facilities, which will be completed in the final phase of the overall development. Surrounded by over 55 hectares of green space including Cator Park, a new landscaped park which forms a ‘green river’ through existing parks in the area, this is ideal for people who enjoy a gentle stroll or even jogging. There are also various sports pitches and tennis courts for the more actively inclined.

Halton Court is located in the Blackheath Quarter sector of Kidbrooke Village, under a mile from Blackheath Village and an approximate 300 metre flat walk to Kidbrooke station and bus stand. From the station Lewisham and the DLR interchange is just six minutes away by train; London Bridge just 15 minutes. Bus services are currently frequent, and provide services across south east London to destinations such as Woolwich, Charlton and Greenwich.

Prices for a two bedroom apartment at Halton Court start from £162,500 based on a 50% of a property with a full market value of £325,000. For further information, visit viridianhousing.org.uk.