1 bedroom apartment for sale
Cowan House, TW11 0JH
Share percentage 30%, full price £407,500, £6,113 Min Deposit.
Share percentage 30%, full price £407,500, £6,113 Min Deposit.
Monthly Cost: £1,591
Rent £654,
Service charge £240,
Mortgage £697*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Hampton Road you can buy a minimum 30% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
Please note that there is a local area connection requirement to purchase at Hampton Road. All purchasers must live and/or work in the borough of Richmond and Wandsworth. All applications to purchase will need to be approved by the local council.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
Summary
This brand new home is available to buy from as little as £122,250 with a 30% share!
Description
Hampton Road is a landmark new development with landscaped grounds and located just a short walk from Teddington train station. These one and two-bedroom apartments are the perfect place to create memories: whether you’re looking for your first or forever home.
One of Teddington’s greatest assets is its location. Just under 13 miles from the city centre, fast trains arrive in London Waterloo in around 30 minutes. You can also travel to mainline and underground hub Victoria by hopping on one of the 30-minute trains to Clapham Junction. You also are nearby to Kingston town centre and its fantastic shops, leisure facilities, bars and restaurants. Want to go further afield? Take the M3 towards the countryside and beaches of Hampshire and Dorset. If air travel is more your style, Heathrow is less than a 40-minute drive away.
This first floor apartment has accommodation that includes an open plan lounge/kitchen/diner with access to a private balcony, a double bedroom, bathroom and parking.
SPECIFICATION
Kitchen
Contemporary open plan kitchens with Zanussi integrated appliances
Fridge freezer, fan oven and 60cm electric hob with stainless steel extractor hood
Removable base unit to allow future install of dishwasher
Blanco Crest, Single Lever Monobloc Mixer Tap
Bathroom
Modern bathroom suite with chrome fittings
Half height and full width glass mirror above the shelving behind the WC/ wash basin wall
Thermostatic shower with glass shower screen over bath
Contemporary vinyl flooring
General
Most apartments either have a balcony, patio or terrace
Laminate flooring to living areas with carpet to bedrooms
Video door entry system
Secure cycle storage
Parking
PRICING & AFFORDABILITY
Approximate Size 574 sq ft
Full Market Value: £407,500
30% Share Price: £122,250 (rent £653.70pcm)
50% Share Price: £203,750 (rent £466.93pcm)
75% Share Price: £305,625 (rent £233.46pcm)
Minimum 5% Mortgage Deposit (25% share): £6,113
Approximate Service Charges: £240.01 pcm*
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Parking
Walking distance of Teddington train station
Open plan living space
Close to local amenities
Private balcony or terrace with most apartments
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- 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 and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 30%, full price £407,500, £6,113 Min Deposit. Calculated using a representative rate of 5.26%
