Penpool Lane

Overview

SHARED OWNERSHIP

Full Market Value:  £240,000

Share Value (50%):  £ 120,000

Monthly Rent:         £ 260.26

Service Charge:      £262.66

Ground Rent:            £ 100 pa

Council Tax Band:    B

125 year lease commenced January 2010 - 110 years remaining

EWS1 - Guidance from the Royal Institute of Chartered Surveyors (RICS), means that lenders should no longer require an EWS1 form for this property. However, we cannot guarantee that all Mortgage lenders, brokers and valuers are utilising the same criteria. 

Make this home your own, enjoy a £500 B&Q Voucher on completion*

This bright, airy and spacious one bedroom second floor apartment consists of a large reception room, opening to private balcony. There is a separate kitchen fitted with white wall and base units, and a wood effect worktops. The kitchen also benefits from integrated appliances including a fridge freezer, oven, hob and extractor fan. A generous double bedroom benefits from built-in storage and floor to ceiling windows. The bathroom comes complete with a white three-piece suite with a shower over bath and a stone tile surround. Additional storage can be found in the hallway.  Access to a large shared garden and secure off-road parking for one vehicle is perfect for first-time buyers

This property benefits from a sinking fund. A sinking fund is a long-term savings plan that leaseholders contribute to every month through service charges. This is used to pay for major works that are required, such as replacing a roof.

Welling is in close access to Bexley borough's four grammar schools. The property is within close walking distance to Danson Park, with its historic house, boating lake, sports pitches, splash park and pub. Close to the towns High Street, where you'll find shops, pubs, restaurants and the mainline train station, with its direct trains to London. Located near Crook Log Leisure Centre - Welling's sports and pool complex. You are within walking distance to Welling train station and the area is serviced by multiple bus routes.

The buyer will require a deposit to obtain a mortgage for this property.

To meet the requirements for this property we require as a guideline, a minimum household income of £42,814. If you are offered the home, your ability to afford this property will be assessed at your financial interview. Please note that applicants should purchase the maximum share that they can afford and sustain.

Only applicants who are registered with London and Quadrant will be eligible to be offered a property in one of our schemes. If you are not registered please visit our website www.lqhomes.com and register to obtain your unique reference number.

Your home is at risk if you fail to keep up repayments on a mortgage, rent or other loan secured on it. Please make sure you can afford the repayments before you take out a mortgage.

These particulars are of opinion only, are intended to give a fair description and do not form the basis of a contract. The descriptions and all other information are believed to be correct as of June 2025.

*The £500 B&Q Voucher is currently being offered on this resale property for a limited time and is applicable to any Shared Ownership purchase that completes a reservation on or before 31st August 2025 and then completes on the sale before 31st December 2025. The voucher will be supplied within 75 days of completion of the purchase and will be an E-Voucher, issued by email to the Sole or Primary Purchaser. Further terms and conditions may be in place from the voucher provider, and it is the purchaser's responsibility to satisfy themselves of any terms applicable. The voucher cannot be offset against any fees or monies due from the purchase. L&Q will not be responsible for direct payments to any lenders, or third parties. L&Q reserve the right to remove an incentive at any time

Local area information

Penpool Lane

Welling is in close access to Bexley borough's four grammar schools as well as Danson Park, with its historic house, boating lake, sports pitches, splash park and pub. Close to the towns High Street, where you'll find shops, pubs, restaurants and the mainline train station, with its direct trains to London. Located near Crook Log Leisure Centre - Welling's sports and pool complex. You are within walking distance to the train station, multiple bus routes.