2 bedroom apartment for sale
Ashton House, Cottington St, SE11 4BN
Share percentage 45%, full price £500,000, £22,500 Min Deposit.
Share percentage 45%, full price £500,000, £22,500 Min Deposit.
Monthly Cost: £1,982
Rent £553,
Service charge £287,
Mortgage £1,142*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
Private Balcony - Energy Efficient
Description
SHARED OWNERSHIP
Full market value - £500,000
You pay (45%) - £225,000
Monthly Rent - £552.81
Monthly Service Charge - £286.85
Annual Ground Rent - £100
125 year lease commenced in April 2019 (120 years remaining)
New guidance, from the Royal Institute of Chartered Surveyors (RICS), means that lenders should no longer require an EWS1 form for this property. However, we cannot guarantee that all Mortgage lenders, brokers and valuers are utilising the same criteria.
This apartment is close to Kennington Underground station (Northern Line), Elephant & Castle Mainline and Underground stations (Bakerloo and Northern lines, plus overground services to Blackfriars and West Hampstead or to South London and beyond to Kent). Waterloo station and Lambeth North are also within easy reach, plus many local bus services. Together these offer excellent transport links to The City,Westminster, the Southbank, Kensington and Chelsea plus the river. Kennington Park is within short walking distance. Kennington Cross is also very close by, providing a selection of shops, restaurants, bars and cafes.
The buyer will require a deposit to obtain a mortgage for this property.
To meet the requirements for this property we require as a guideline, a minimum household income of £73,802. If you are offered the property, your ability to afford this property will be assessed at your financial interview. Please note that applicants should purchase the maximum share that they can afford and sustain.
Only applicants who are registered with London and Quadrant will be eligible to be offered a property in one of our schemes. If you are not registered, please visit our website lqhomes.com and register to obtain your unique reference number.
Your home is at risk if you fail to keep up repayments on a mortgage, rent or other loan secured on it. Please make sure you can afford the repayments before you take out a mortgage.
These particulars are of opinion only, are intended to give a fair description and do not form the basis of a contract. The descriptions and all other information are believed to be correct as of April 2024.
Key Features
- Dual aspect living area open plan to kitchen with patio doors leading to balcony
- Kitchen fitted with oak wall and base units, grey marble effect worktops and integrated appliances
- Double bedroom with fitted wardrobe
- Bathroom fitted with white suite, shower over bath with glass shower screen and heated towel rail
- Storage cupboard in hallway
- Entry phone system
- Gas central heating (not tested)
- Double glazing
- Secure bicycle storage and communal patio area
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: E
Property Downloads
Key Information Document Floor Plan Energy CertificateVirtual Tour
Map
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 45%, full price £500,000, £22,500 Min Deposit. Calculated using a representative rate of 4.64%
