1 bedroom apartment for sale
16 Trobridge Parade, Grahame Park Way, NW9 4AL
Share percentage 30%, full price £330,000, £4,950 Min Deposit.
Share percentage 30%, full price £330,000, £4,950 Min Deposit
Monthly Cost: £1,521
Rent £642,
Service charge £328,
Mortgage £551*
Calculated using a representative rate of 5.03%
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. 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 £330,000 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 £99, 000with a 30% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £99, 000with a 30% share!
This third floor apartment is located in a residential area close to many local amenities in Barnet. This well presented home provides bright, well-planned accommodation which is well-presented throughout. The entrance hall provides a large storage cupboard and doors to the bathroom, the large double bedroom and the impressive 27ft open plan kitchen/dining/living space. There is a sunny aspect balcony which can be accessed via the bedroom and the living room. Further benefits to this apartment include a secure allocated undergound parking space and a lease around 117 years.
Colindale is a suburban district in northwest London, located within the London Borough of Barnet. Colindale has undergone significant regeneration in recent years, transforming from a primarily residential suburb into a vibrant and increasingly modern urban hub. Amenities include a range of shopping and dining options including nearby Brent Cross Shopping Centre.
Colindale Underground Station offers a 30 minute journey in to central London and there are multiple bus routes operating.
PRICING & AFFORDABILITY
Full Market Value: £330,000
30% Share Price: £99,000 (rent £642.05pcm)
Minimum 5% Mortgage Deposit (30% share): £4,950
Approximate Service Charges: £327.74 pcm*
Shared Ownership Lease: approx. 117 years
Council Tax Band: C
Key Features
Modern shared ownership home
Third floor apartment
Secure allocated parking
Long lease
Large double bedroom
Balcony
27ft kitchen/living space
Particulars
Tenure: Leasehold
Lease Length: 117 years
Council Tax Band: C
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £330,000, £4,950 Min Deposit. Calculated using a representative rate of 5.03%
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