South East London contains 5 different boroughs; these are Southwark, Lewisham, Greenwich, Bexley, and Bromley. If you choose to purchase one of the houses for sale south east London then there is plenty to do nearby such as the museum of London docklands, the imperial war museum, valence house and Crystal Palace Park, as well as all the shopping centres and fantastic places to eat. There are some great houses for sale South East London including stunning 5 bedroom houses and your more traditional 3 bedroom family homes. A lot of the houses for sale south east London, have a more modern, contemporary look to them as they have been recently built and are waiting for the right people to come and purchase them. As well as being able to purchase stunning houses for sale south east London, there are also some fantastic penthouses and apartments with gorgeous views spreading across London. A few of the bigger homes, have land to go with them or big gardens, these are ideal for families or those who enjoy the outdoors and countryside, as they can enjoy the fantastic view and spend some time enjoying outside.
There are also homes in south east London which are available through shared ownership. Shared ownership means that you will own a share of the property but you will have to pay rent for the remaining share. Shared ownership is a government scheme which allows individuals to get onto the property ladder, it is mostly aimed at first time buyers and those who have previously owned a property but can no longer afford to. Shared ownership means that you do have the option to purchase further shares into the property, this is called stair casing. Many people choose the option of stair casing as it will reduce the rent they pay and because when it comes to selling your home, the bigger the percentage that you own, the more profit you make if the value of your home gets increased. You can buy as little as a 10% share per transaction, the only problem is with most housing associations you are usually limited to no more than three transactions. This means that if you want to have complete ownership of the property then you must achieve 100% ownership by your third transaction.
You will purchase each share of the property at the current market value. With each share that you purchase, the rent that you pay decreases according to the new percentage that you own. When you reach 100% ownership, you will no longer have to pay any rent on the property. To be eligible for shared ownership, you will have to be at least 18 years old, a first time buyer or a previous buyer who can no longer afford to purchase a property. Although there are some other circumstances which housing associations will allow you to go through with shared ownership depending on your situation. Also your current household income must be less than £60,000.