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£120,000
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 £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 £400,000 and a purchaser would not need to meet the eligibility criteria listed above.
Offered to the market with no onward chain complications is this beautifully presented bright and spacious top floor apartment. This property provides a superb open plan kitchen/dining/living space with double doors opening on to a large balcony with pleasant views. There is a good size double bedroom with a built in wardrobe and a bathroom.
This property is conveniently located approximately 1.4 miles from central Brixton and 1.3 miles from Streatham High Road. Both locations offer a variety of amenities, shops and eateries.
The closest train station is Streatham Hill which offers regular services across London. Brixton Underground is also nearby.
PRICING & AFFORDABILITY
Full Market Value: £400,000
30% Share Price: £120,000 (rent £860.51 pcm)
Minimum 5% Mortgage Deposit (30% share): £6,750
Approximate Service Charges: £111.67 pcm*
Lease: 120
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