Shared Ownership!
This superb modern home is available to buy from as little as £200,000 with a 50% share!
Nestled in the heart of SE26, this beautifully presented apartment is situated on the third floor of a well-maintained development in the sought-after Purbeck Gardens.
The acccommodation features a gorgeous open plan lounge/kitchen/diner with access to a private balcony, two double bedrooms (en suite to bedroom one) and a family bathroom. Externally is an allocated underground parking space and communal gardens.
Located moments from Sydenham station, residents benefit from excellent transport links into Central London, as well as the green open spaces of Crystal Palace Park just a short walk away.
PRICING & AFFORDABILITY
Full Market Value: £400,000
50% Share Price: £200,000 (rent £560.90pcm)
Minimum 5% Mortgage Deposit (50% share): £10,000
Approximate Service Charges: £166.66pcm*
Lease: 118 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 £400,000 and a purchaser would not need to meet the eligibility criteria listed above.
