3 bedroom apartment for sale
5 Eversley House, SW4 8EU
Share percentage 30%, full price £600,000, £9,000 Min Deposit.
Share percentage 30%, full price £600,000, £9,000 Min Deposit.
Monthly Cost: £2,002
Rent £792,
Service charge £184,
Mortgage £1,026*
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 £600,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £180,000 with a 30% share!
Description
Being offered to the market with no onward chain and situated in the ever-popular Clapham Park area, this first floor flat has plenty of accommodation and offers flexible use depending on your individual lifestyle requirements. Featuring a large private balcony that can be accessed from both the living and sleeping area, the accommodation includes an open plan lounge/kitchen/diner, three bedrooms (en suite to master) and a family bathroom.
Residents are spoilt for access to a wealth of local amenities including the parade of shops, bars and restaurants of Abbeville Village, Clapham Old Town and Brixton Market. Commuters have a range of options including Clapham North & Common and south Underground (Northern), Brixton Underground (Victoria) and a constants flow of regular bus routes 137, 417 and 355 into the City.
PRICING & AFFORDABILITY
Approximate Size: 904 sq ft
Full Market Value: £600,000
30% Share Price: £180,000 (rent £792.34pcm)
Minimum 5% Mortgage Deposit (30% share): £9,000
Approximate Service Charges: £183.53pcm*
Shared Ownership Lease: approx. 114 years
Council Tax Band: D
Key Features
Modern Shared Ownership home
En suite
No onward chain
Private balcony
1 mile from Clapham South tube station
Open plan living space
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: D
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 30%, full price £600,000, £9,000 Min Deposit. Calculated using a representative rate of 5.26%
