Shared Ownership
This superb modern home is available to buy from as little as £96,000 with a 30% share!
A well appointed first floor apartment providing light and spacious accommodation measuring over 61 sq ft. The modern, open plan kitchen/living space provides ample space and flexibility. There is a very large double bedroom and a spacious bathroom. A private balcony can be accessed from the living space and the bedroom.
The property is located in a residential development of similar properties near Wimbledon, London. The property is close to a range of local amenities including supermarkets, shops, and restaurants. Haydons Road rail station is roughly a 5 minute walk from the property and offers connections to central London. Wimbledon Park is also within walking distance of the property and offers connections on the District Line. The property also benefits from close proximity to a range of parks and open spaces including Wandle Meadow Nature Park.
PRICING & AFFORDABILITY
Full Market Value: £320,000
30% Share Price: £96,000 (rent £635.10 pcm)
Minimum 5% Mortgage Deposit (30% share): £4,800
Approximate Service Charges: £291.17 pcm*
Lease: 99 years
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 £320,000 and a purchaser would not need to meet the eligibility criteria listed above.
