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£157,500
2-bedroom terraced house available through Shared Ownership in South Oxhey!
You can apply to buy the home if all of the following apply:
- your household income is £80,000 or less
- you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.
This two-bedroom home is currently undergoing a full renovation, and will boast a fully integrated kitchen, as well as a large living area leading out to a private garden. The upstairs of the property boasts two generously sized bedrooms, both with flush carpets for added comfort.
Key Features
- Two spacious double bedrooms
- Under renovation
- 990-year lease
- Excellent transport links from South Oxhey station into the City
- Contemporary fully fitted kitchen with integrated appliances
- Plush fitted carpets in both bedrooms for added comfort
- Private garden
- Parking
Key Information
- Tenure: Shared Ownership
- Available Shares from: 35%
- Full Market Value: £450,000
- Share Value (initial purchase) from: £157,500
- Rent (on unsold equity): £670 per month
- Service Charge: £35 per month
- Lease Length: 990 years
- Council Tax Band: C
Please note that higher shares may be available to purchase. The final share amount will be discussed and agreed upon during your financial assessment.
Development & Location
South Oxhey benefits from a range of amenities, including the recently redeveloped South Oxhey Central, which offers new shops, cafes, and public spaces. South Oxhey is well-served by transport links, with Carpenders Park station providing direct trains to London Euston, making it an attractive location for commuters. The area also boasts several schools, parks, and community centers, fostering a family-friendly environment.
Eligibility
Shared Ownership is designed to help first-time buyers and those who do not currently own a home get onto the property ladder.
To be eligible, you must:
- Have a household income of under £80,000
- Be unable to purchase a suitable home on the open market
- Have a good credit history and be able to obtain a mortgage
Shared Ownership is a government-backed scheme that helps people get on the property ladder. You start by buying just a share of your home. You'll typically only need a 5% deposit of the share you purchase, making it more affordable to get started. Buying a smaller share also means it can be easier to secure a mortgage and take your first step onto the property ladder.
You can buy more shares of your home at any time in the future, working towards owning your home outright.
This property is currently undergoing an extensive programme of refurbishment and to be sold in a completed state. The property will benefit from new kitchen, flooring, bathroom and decoration together with guarantees on electrics and other utilities and will benefit from a 6-month defects liability warranty.
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.
Red Loft