Shared Ownership
This superb modern home is available to buy from as little as £106,250 with a 25% share!
Situated within the heart of Clapham is this one bedroom second floor apartment with a private balcony. This beautifully presented home provides accommodation comprising entrance hall, double bedroom with built in wardrobes, modern bathroom and an open plan fully fitted kitchen/living/dining room.
Bradley Road sits within a tranquil residential area in Clapham in South London, with several amenities nearby and the underground station just a mile away; there's also a local bus station on the main road. Central London can be reached in half an hour. Several schools are in the area, many of which are just a few minutes walk away.
PRICING & AFFORDABILITY
Full Market Value: £425,000
25% Share Price: £106,250 (rent £936.58pcm)
Minimum 5% Mortgage Deposit (25% share): £5,312.50
Approximate Service Charges: £131.21pcm*
Shared Ownership Lease: approx. 124 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 £425,000 and a purchaser would not need to meet the eligibility criteria listed above.
