Shared Ownership

This superb modern home is available to buy from as little as £180,000 with a 30% share!

Being offered to the market with no onward chain and situated in the ever-popular Clapham Park area, this first floor flat has plenty of accommodation and offers flexible use depending on your individual lifestyle requirements. Featuring a large private balcony that can be accessed from both the living and sleeping area, the accommodation includes an open plan lounge/kitchen/diner, three bedrooms (en suite to master) and a family bathroom.

Residents are spoilt for access to a wealth of local amenities including the parade of shops, bars and restaurants of Abbeville Village, Clapham Old Town and Brixton Market. Commuters have a range of options including Clapham North & Common and south Underground (Northern), Brixton Underground (Victoria) and a constants flow of regular bus routes 137, 417 and 355 into the City.

PRICING & AFFORDABILITY

Approximate Size: 904 sq ft

Full Market Value: £600,000

30% Share Price: £180,000 (rent £862.54 pcm)
Minimum 5% Mortgage Deposit (30% share): £9,000
Approximate Service Charges: £229.33 pcm*
Shared Ownership Lease: approx. 113 years
Council Tax Band: D

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.

** This home can also be purchased outright (100% of the value) which is £600,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 2751.96.