Share Price £228,000 (from 40% Min. Share)

Full Value £570,000 | £22,800 Min. Deposit

Scheme: Shared Ownership Resales

Under offer

2 bedroom apartment in Lambeth

place Akerman Road, SW9 6FX

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Third floor two-bedroom home in the London borough of Lambeth, SW9 for £228,000 (40% share price of £570,000 full market price), available through Shared Ownership


Eligibility

You will need to be earning a guidance income of £78,735. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £22,800. Total approximate savings required £26,800.

Important borough specific eligibility criteria

Lambeth


All London applicants will be considered with priority given to people who live/work in the borough.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by your local council.


Description

Third Floor

Entrance hall, open plan kitchen / living room, two bedrooms and bathroom with W.C.

External

Communal gardens and grounds.

Private integral balcony

GIA
73 sqm

EPC rating
B

Length of lease
93 Years Remaining

Monthly Fees

Monthly Mortgage: £1,153.21

Monthly Rent: £891.68

Estimated Managing agent service charge: £140.00

Estimated Total (per month): £2,184.89

*Estimate – The monthly mortgage is based on an interest rate of 4.5% with a capital and interest repayment over 25 years. It is based on a 10% mortgage. The rent may increase each year, the increase calculation will be specified in the lease.


Key Features

Communal gardens and grounds.

Private integral balcony

Bike storage under the building

Local Transport

Loughborough Junction station (0.9 km)
Oval underground station (1.4 km)
Stockwell underground station (1.5 km)


Download Documents

Link to the floor plan Energy Certificate

Accessibility

D – Easy Access

Compatible with the design standards in Mobility Standard Housing (1974) produced by the DoE and Housing Corporation Scheme Development Standards (pre-1999) and Part M of Building Regulations (2000). The main features of these properties include a level approach to the entrance, wider doorways and more space than in general needs housing. These properties may also have an internal flight of stairs and if so, there is enough space to accommodate future provision of a stair lift subject to technical feasibility.


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Calculate Monthly Cost

Share price
£ 228,000
Min. £228,000
Share percentage
Min. 40%
Your deposit
Min. £22,800
Monthly cost*
£2,000
Cost breakdown
£877
Rent
£140
Service charge
£983
Mortgage*
Calculated using a representative rate of 3.09%
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Location

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.