Share Price £175,000 (from 50% Min. Share)
Full Value £350,000 | £17,500 Min. Deposit
Scheme: Shared Ownership Resalescheck_circle Available now
2 bedroom apartment in Croydon
place Station Approach Road, CR5 2BT
A Fantastic Opportunity to Purchase a Two Bedroom Flat, on Shared Ownership
WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.
IS SHARED OWNERSHIP FOR YOU ?
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
Not own another property in the UK or any other country.
Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
Be in full time permanent employment.
Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]
A Fantastic Opportunity to Purchase a Two Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
SHARED OWNERSHIP(Advertised price represents 50% share. Full market value £350,000). A beautifully-presented apartment in a recently-constructed development just minutes from Coulsdon Town Station and the local high street. The property is on the first floor and shares a communal entrance with just one other flat. The reception has large windows on two sides plus a door which leads out onto the balcony. The kitchen is semi-open-plan, featuring sleek, handle-less units and integrated appliances. There is a dual-aspect main bedroom, a second comfortable double bedroom, a simple yet stylish bathroom and useful hallway storage. Modern insulation standards, gas central heating and high performance glazing have resulted in a very good energy-efficiency rating. Two of the local primary schools are Ofsted-rated 'Outstanding' and the nearby secondary school is also well-thought-of. Services from the railway station run between Tattenham Corner and London Bridge with numerous connections available at Purley/East Croydon. For scenic outside space, Farthing Downs is close by and the Surrey Hills within easy reach.
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; https://bit.ly/2W79ywO]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Tenure:Leasehold (125 years from 2016).
Minimum Share:50% (£175,000).
Shared Ownership Rent:£386.34 per month (subject to annual review).
Service Charge:£163.94 per month (subject to annual review).
Guideline Minimum Income:Dual £43,700 | Single £48,900 (based on minimum share and 10% deposit).
Council Tax:Band D, London Borough of Croydon. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals). There is no parking space offered with this property however annual parking passes are available for use in the adjacent station car park.
- Guideline Minimum Deposit £17,500
- Guideline Income Dual £43.7k | Single £48.9k
- First Floor with Balcony
- Approx. 685 Sqft Gross Internal Area
- High Performance Glazing
- Gas Central Heating
- Communal Cycle Storage
- Minutes from Coulsdon Town Station
Download DocumentsLink to the floor plan Property brochure 1 Energy Certificate
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.