Shared Ownership

This superb modern home is available to buy from as little as £106,000 with a 40% share!

This first floor flat is light and spacious and provides well planned accommodation comprising two double bedrooms, a large living room, fitted kitchen and modern bathroom. There is an allocated parking space and the property benefits from a 968 year lease and communal gardens.

This property is located close to Edmonton town centre and its’ extensive travel links. White Hart Lane Station is 1.5 miles away. There is a hospital nearby and many shops, pubs restaurants and supermarkets. There are also several schools of varying levels in the vicinity.

PRICING & AFFORDABILITY

Full Market Value: £265,000

40% Share Price: £106,000 (rent £877.70pcm)
Minimum 5% Mortgage Deposit (40% share): £5,300
Approximate Service Charges: £195.98pcm*
Shared Ownership Lease: approx. 968 years
Council Tax Band: C

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 £265,000 and a purchaser would not need to meet the eligibility criteria listed above. Service Charge: 2351.76.