Share Price £100,000 (from 40% Min. Share)

Full Value £250,000 | £5,000 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Hillingdon

place Green Acres House, Welbeck Avenue, UB4 9JR

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2 bedroom purpose built apartment


Eligibility

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet.The general eligibility criteria for Shared Ownership is as follows:


You must be at least 18 years old
Outside of London your annual household income must be less than £80,000
In London your annual household income must be less than £90,000
You should generally be a first time buyer, i.e. you don’t already own a home. If you do already own, you must be in the process of selling it
You should not be able to afford to buy a home suitable for your housing needs on the open market
You must show you are not in mortgage or rent arrears
You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home
You should have savings or to be able to easily access at least £4,000 to cover the costs of buying a home. This is a guideline figure – the actual amount you need will depend on the Help to Buy option you choose

In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.


Description

A purpose built first floor two bedroom flat in a three storey block with parking space. Built circa 2005

Property comprises two bedrooms, reception room with open plan kitchen and combined bathroom/W.C The property has the benefit of gas central heating, a reserved car space in the underground communal parking area and landscaped communal gardens.

Located within walking distance of a local supermarket, riverside restaurants and an art centre. Also close to Ealing and Richmond town centres.

Nearby is Brentford railway station and there are very good local bus links.


Key Features

Ground Floor

Communal entrance hall and stairway.

Entrance Hall Livingroom 3.22m X 5.22m 10’ 6” X 17’ 1”

Kitchen 2.46m X 2.34m 8’ 1” X 7’ 8”

Bedroom 1 2.73m X 4.18m 8’ 11” X 13’ 9”

Bedroom 2 2.08m X 4.18m 6’ 10” X 13’ 9”

Bathroom 2.46m X 1.65m 8’ 1” X 5’ 5”

The flat has a gross internal floor area of approximately 55 sq m, 592 sq ft.


Accessibility

F – General Needs

General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.


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Calculate Monthly Cost

Share price
£ 100,000
Min. £100,000
Share percentage
Min. 40%
Your deposit
Min. £5,000
Monthly cost*
£1,338
Cost breakdown
£687
Rent
£153
Service charge
£498
Mortgage*
Calculated using a representative rate of 3.94%
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Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.