Share Price £300,000 (from 50% Min. Share)

Full Value £600,000 | £15,000 Min. Deposit

Scheme: Shared Ownership Resales

check_circle Available now

2 bedroom apartment in Kensington and Chelsea

place 62 Finborough Road, West Brompton, SW10 9EF

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Bright and spacious 2 bedroom maisonette


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

Available now for shared ownership is this bright and spacious 2 bedroom maisonette in a highly sought after and desirable central London location.

The property entrance is located on the first floor within a six storey block of flats. The property is internally well maintained throughout, extends over two floors and comprises of: a large kitchen/dining area, a living room which opens onto a west-facing balcony, two double bedrooms, an entrance hall, and a bathroom with combined W.C.

There is a wide variety of shops, cafes and restaurants within easy reach of the property, with Kings Road (A3217) only 0.5 miles to the south (approximately) and the River Thames is just 0.75 miles away (approximately).

Further images and information are available at: www.youtube.com/watch?v=8gDAhubeJZA&feature=youtu.be

Earls Court station (London Underground: Piccadilly/District lines) and West Brompton station (London Overground: Southern Trains) are both approximately 0.5 miles from the property. Many bus routes, including night buses, are readily accessible nearby.

Full details regarding local resident car parking permits can be found at:https://www.rbkc.gov.uk/parking-transport-and-streets/residents/residents-parking-permits

Metered on-street parking is also available.

The property is located on the Earl's Court road system, offering easy connection with the Warwick Road/Finborough Road/Gunter Grove (A3220) arterial route for West London, as well as connecting Kensington (A4) with Chelsea and the Embankment (River Thames) and a number of strategic Thames river crossings.

The property is available immediately and is not subject to any property chain.


Key Features

Ground Floor

Communal Entrance, stairs corridor approach

First Floor

Flat entrance

Hallway (4.76m x 1.87m)

Bedroom 1 (4.00m x 2.48m)

Bedroom 2 (3.10m x 2.67m)

Bathroom with w.c (2.50m x 1.52m

Second Floor

Kitchen/Diner (4.00m x 2.66m)

Lounge (5.80m x 3.57m)

Outside

Private balcony (2.00m x 1.25m)


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
£ 300,000
Min. £300,000
Share percentage
Min. 50%
Your deposit
Min. £15,000
Monthly cost*
£1,862
Cost breakdown
£242
Rent
£125
Service charge
£1,495
Mortgage*
Calculated using a representative rate of 3.94%
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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.