Share Price £108,000 (from 40% Min. Share)

Full Value £270,000 | £5,400 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Sutton

place Old Market Court, Crown Road, SM1 1SD

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Optivo Resales

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Optivo are delighted to offer for sale this well-presented this 2 double bed second floor flat


Eligibility

You may be eligible for this property if:

You have a gross household income of no more than £90,000 per annum when eligible to purchase.
You are unable to purchase a suitable home to meet your housing needs on the open market.
You do not already own a home or you will have sold your current home before you purchase or rent.


Description

The current market value is £270,000.00 for 100%. The minimum 40% share available is priced at £108,000.00, current rent payable £403.35 pcm, rent is subject to annual reviews. Service charges are currently £245.40 pcm.

Viewings by appointment only. Please contact Linda to arrange viewings linda.edvardsen@optivo.org.uk or call 020 803 62684

If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to linda.edvardsen@optivo.org.uk or call 020 803 62684

Local information

The property is close to Asda, Sainsbury’s and shopping mall with department store and close to good bus, road and rail links.


Key Features

Full market value
£270,000
Share available and price
40% £108,000
Current rent payable
£403.35
Monthly service charge
£245.40
Lease term
80+ years remaining


Features

Hallway 1.04m x 6.2m+2.0m x 2.0m

Reception 4.4m x 4.16m

Kitchen 3.5m x 2.0m

Bedroom 1 4.4m x 2.5m

Bedroom 2 4.4m x 2.68m

Bathroom 2.0m x 1.7m

Gross Internal Floor Area:

69Sqm


Download Documents

Property brochure 1

Accessibility

F – General Needs

General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.


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Calculate Monthly Cost

Share price
£ 108,000
Min. £108,000
Share percentage
Min. 40%
Your deposit
Min. £5,400
Monthly cost*
£1,186
Cost breakdown
£403
Rent
£245
Service charge
£538
Mortgage*
Calculated using a representative rate of 3.94%
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Optivo Resales

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Location

Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.