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£136,000
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 £80,000
• 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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £340,000 and a purchaser would not need to meet the eligibility criteria listed above.
A well appointed ground floor apartment which is in excellent order throughout. The light and spacious accommodation provides a large double bedroom, a family bathroom and an open plan kitchen/living space with access to a private garden space. Outside there are well maintained communal gardens and the property benefits from an allocated parking space.
The property is located just outside the town centre of Ruislip, in the southern part, less than 5 minutes’ walk from the underground and railway station. The Central Line can then travel to Oxford Street, in Central London, in 30-40 minutes.
The A40 is also convenient to reach by car, about a mile away, allowing one to travel to London or out in the country, as it connects to the M40 and M25.
The surrounding area has all local amenities nearby and within walking distance, including bars, restaurants, and a supermarket.
There are also several schools for all levels, many within walking distance.
PRICING & AFFORDABILITY
Full Market Value: £340,000
40% Share Price: £136,000 (rent £663.92 pcm)
Minimum 5% Mortgage Deposit (75% share): £6,800
Approximate Service Charges: £162.14 pcm*
Shared Ownership Lease: approx. 117 years
Council Tax Band: C
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership