2 bedroom apartment for sale
Time House, Plough Road, SW11 2BL
Share percentage 55%, full price £510,000, £14,025 Min Deposit.
Share percentage 55%, full price £510,000, £14,025 Min Deposit.
Monthly Cost: £2,357
Rent £624,
Service charge £135,
Mortgage £1,598*
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.
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.
*Service charges are estimated and may subject to change.
** This home can also be purchased outright (100% of the value) which is £510,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern apartment is available to buy from as little as £280,500 with a 55% share!
Description
A well presented, bright and spacious ground floor apartment with private garden, situated in a fantastic location. Accommodation comprises open plan kitchen/reception room, family bathroom and two double bedrooms with built in wardrobe and en suite to the main bedroom. The property further benefits from a private garden and a large communal roof terrace
Time House is very well located for a short walk to Clapham Junction, for both Clapham and Wandsworth Commons and the vast array of local amenities located on St. John's Hill and Northcote Road.
PRICING & AFFORDABILITY
Approximate Size 68.4 sq m
Full Market Value: £510,000
55% Share Price: £280,500 (rent £624.49pcm)
Minimum 5% Mortgage Deposit (55% share): £14,025
Approximate Service Charges: £134.92pcm*
Shared Ownership Lease: approx. 117 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
Private Garden
Moments away from Clapham Junction train station
Two double bedrooms
Bathroom and en suite
Fantastic location
Particulars
Tenure: Leasehold
Lease Length: 117 years
Council Tax Band: C
Property Downloads
Floor Plan Energy CertificateMap
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 55%, full price £510,000, £14,025 Min Deposit. Calculated using a representative rate of 5.26%
