Shared Ownership

This home is available to buy from as little as £230,000 with a 50% share!

A two bedroom house in need of updating and modernisation is offered to the market with no chain complications. The accommodation provides entrance hall, living room, dining room, and kitchen on the ground floor. Upstairs there are two bedrooms and a large bathroom. At the back of the property there is a private rear garden.

Rosebery Avenue is within easy reach of Northumberland Park, Totten Hale and Bruce Grove Train Stations which offer various lines for convenient travel across London. Tottenham provides many local amenities, local markets and independent shops. There are many notable pubs and restaurants.


PRICING & AFFORDABILITY

Full Market Value: £460,000

50% Share Price: £230,000 (rent £367.75 pcm)
Minimum 5% Mortgage Deposit (50% share): £11,500
Approximate Service Charges: £67.76 pcm*
Shared Ownership Lease: approx. 99 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 £460,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 813.12.