2 bedroom apartment for sale

Available

Plough Lane, SW17 0BL

£142,500 · Shared Ownership New Build

Share percentage 25%, full price £570,000, £7,125 Min Deposit.

Available
2 bedrooms
2 Bathrooms
Private Balcony/Terrace
New marketing suite & 2 new show apartments open Thursday - Monday!
Floor plan
floor-plan
Floor plan
floor-plan
£142,500 Shared Ownership New Build · Eligibility Eligibility

Share percentage 25%, full price £570,000, £7,125 Min Deposit.

Monthly Cost: £1,941
Rent £980, Service charge £251, Mortgage £710*

Calculated using a representative rate of 3.94%

Calculate estimated monthly costs

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Eligibility

You may be eligible for this property if:

  • You have a gross household income of no more than £90,000 per annum.
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase or rent.
Summary

Ready to move into now! Homes selling fast, book your viewing today.

Description

The Switch is available through Shared Ownership.

Brand new marketing suite and show apartments now open 7 days a week – book a viewing today!

NOW 80% RESERVED!

The Switch is part of an extensive regeneration programme, set across a large mixed-use project complete with a new purpose-built Wimbledon Football Club Stadium, which is set to transform the surrounding area.

Offering a luxurious selection of 1, 2 & 3 bedroom apartments through Shared Ownership* in one of the most sought-after locations in South West London, The Switch is perfect for first-time buyers.

Plot 58 - The Jester

Shared Ownership Cost Breakdown - 25% Share
* Full market value = £570,000
* Example 25% share price = £142,500
* Rent = £980pcm (charged at 2.75% of the unsold equity)
* Estimated service charge = £251pcm

Shared Ownership Cost Breakdown - 40% Share
* Full market value = £570,000
* Example 40% share price = £228,000
* Rent = £784pcm (charged at 2.75% of the unsold equity)
* Estimated service charge = £251pcm

Shared Ownership Cost Breakdown - 75% Share
* Full market value = £570,000
* Example 75% share price = £427,500
* Rent = £327pcm (charged at 2.75% of the unsold equity)
* Estimated service charge = £251pcmcm

How does Shared Ownership work?

Shared Ownership is a Government-backed scheme for first-time buyers who are unable to afford a suitable home at the full market price.

You initially purchase between 25-75% of the home's market value. You then pay subsidised rent on the remainder calculated at 2.75% per annum.

Am I eligible?

To be considered eligible for the Shared Ownership scheme your yearly income must be below £80,000. For London the limit is £90,000.

Those who already own a home are not eligible for the scheme. You would need to sell your current home to be considered

Will I need to pay a deposit?

In terms of a deposit you will need 5% of the percentage of the home you're purchasing.

These new quality apartments at The Switch offer luminous living spaces with premium fittings and finishes throughout, and all carefully designed to fully meet the demands of modern living, without sacrificing contemporary style.

Kitchens come with fully integrated appliances, designer units and stone worktops. Bath and shower rooms offer oak veneered alcoves, porcelain tiled floors and walls and chrome- plated fixings.

Bedrooms feature floor-to-ceiling fitted wardrobes, brushed metal sockets and subtle light grey carpets.

All apartments at The Switch are offered on the Shared Ownership scheme, making them ideal for first-time buyers.

Don't miss out on coming to view these stunning apartments - register your interest now

We look forward to seeing you soon!

Financials
Length of lease: 250 years
Annual ground rent: £350 per annum from final staircasing
Ground rent review period: 25 years
Annual service charge: £3.50 per sq.ft
Service charge review period: Yearly
Council tax band: (E £2171.23, F 2566.00, G £2960.77, H £3552.92)

As a shared owner, you’ll pay rent for the percentage of the property that you don’t yet own. Every year, we calculate your new rent and will write to you to confirm what your new rent will be. Depending on your new home, you’ll also pay a service charge. This covers a proportion of the cost for the services, management and maintenance of the your building and development where you live. Your lease will detail what’s down to you in terms of repairing and maintaining your home. To find out more visit https://www.chg.org.uk/your-home/shared-ownership/living-in-your-shared-home/ and speak to our sales team.

Show home indicative only

Key Features
  • 2 bedroom apartment on the fourth floor available through Shared Ownership
  • Available from a 25% - 75% share
  • Includes parking
  • Private balcony (or terrace)
  • Gloss grey designer kitchen units, all with soft-close doors and concealed handles.
  • Stone worktop with upstand and glass splashback.
  • Fully integrated kitchen appliances including washer/dryer and dishwasher
  • Amtico flooring to all communal areas
  • Floor to ceiling wardrobes to main bedroom
  • Carpet to bedroom
  • Contemporary bathroom suites with full tiling to the walls and floor
  • Podium gardens
  • Lifts to all apartment levels
  • Easy access to Wimbledon Park, Richmond Park and Wimbledon Common
  • 1 mile to Earlsfield with a range of popular amenities and National Rail service
  • 1 mile to Tooting Broadway Station on Northern line
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan
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Haydons Road (0.43 miles) Wimbledon Park (0.70 miles) Tooting Broadway (0.72 miles)
Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • 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.

£142,500
Shared Ownership New Build
Estimated Monthly Cost:£1,941
Rent £980
Service Charge £251
Mortgage £710

Share percentage 25%, full price £570,000, £7,125 Min Deposit. 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.