Shared ownership less than a mile from Marble Arch.
Grand Union Apartments at Merchant Square, Paddington Basin offer a rare opportunity to buy a share of new apartment in what is arguably one of London's highest profile areas of regeneration.
Contained within Waterline House, at the north eastern edge of Merchant Square, Grand Union Apartments comprise a collection of 16 one bedroom apartments located next to the Grand Union Canal and less than five minutes walk from Paddington station.
Every apartment boasts a smart, contemporary style specification. Each also benefits from views on to Merchant Square and the Grand Union Canal.
Grand Union Apartments are being made available on a part-buy, part rent basis - also known as shared ownership and New Build Homebuy. This means that you buy a share in your home and pay a subsidised rent on the share that you don't own.
The benefit to you is that you need a much smaller deposit because you only need to finance a share of the property through a mortgage. Added to this, your combined monthly mortgage repayment and rent is usually considerably less than renting a similar property privately.
Shares at Grand Union Apartments start from 25% and you can buy up to 75% initially, depending on what you can afford. As your circumstances change, you can buy additional shares at any time until you own your home outright. You can also sell your share at any time.
More information: http://www.octaviagrandunion.co.uk