Shared Ownership
This superb modern home is available to buy from as little as £150,000 with a 40% share!
This ground floor apartment offers spacious and modern living throughout, featuring a bright and generously sized open plan kitchen/living/dining area with direct access onto a private terrace. The property comprises two well proportioned bedrooms, including a principal bedroom with ensuite, alongside a contemporary family bathroom. Additional benefits include ample storage throughout and a practical layout.
Katherine Court is a popular modern development in Northolt, well positioned for a range of local amenities. Residents benefit from nearby shops, supermarkets and eateries, as well as green open spaces including Northala Fields which is just a short distance away. The area offers a great balance of convenience and lifestyle.
Excellent transport links are within easy reach, with Northolt Underground Station (Central Line) providing direct access into Central London. The A40 is also close by, offering swift connections for commuters travelling by car, while local bus routes serve the surrounding areas.
PRICING & AFFORDABILITY
Full Market Value: £375,000
40% Share Price: £150,000 (rent £691.06pcm)
Minimum 5% Mortgage Deposit (40% share): £7,500
Approximate Service Charges: £211.13pcm*
Lease: 119 years remaining
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 £375,000 and a purchaser would not need to meet the eligibility criteria listed above.
