Today is International Day of Older Persons and what better way to celebrate than by taking advantage of the Older People’s Shared Ownership (OPSO) scheme.

If you’re over 55, looking to buy in London but can’t afford to do so then this could be the perfect opportunity to get on the property ladder or downsize for the future.

Sanctuary Retirement Living has 14 one and two-bedroom apartments available at its St Giles House development in Streatham for people to purchase under the scheme.

Specifically for people over 55, it will enable you to buy a share of between 25 and 75 per cent of your home and pay rent on the remaining share.

This is the same as with general shared ownership but you won’t be able to buy more than 75 per cent, although once you reach that threshold you won’t have to pay rent on the rest.

To qualify for the scheme your household needs to have earnings of less than £90,000 a year (it’s £80,000 outside of London).

You also need to be a first-time buyer, already living in a shared ownership property or have previously owned but are presently unable to afford to buy.

Properties at St Giles are exclusively for over 55s and a 25 per cent share of a one-bedroom apartment starts at £95,000, and £117,500 for a two-bedroom apartment.

For more details, visit https://www.sanctuary-homes.co.uk/developments/st-giles-house

Back to News

Block

For help finding your brand new home, call our team on 0800 916 1444 or Contact us