This home is available to buy from £125,000 with a 50% share.
Offered to the market with no onward chain, this first floor apartment at Beaumont Court represents an excellent opportunity for buyers looking for a property they can modernise and improve to their own taste. The accommodation requires refurbishment throughout but offers a well proportioned layout comprising an entrance hall with useful storage, a spacious living room with adjoining kitchen, a double bedroom with fitted storage and a separate bathroom.
Beaumont Court is conveniently positioned on Streatham Place, close to the amenities of Streatham Hill and Brixton. The surrounding area offers a wide choice of shops, supermarkets, cafés, bars and restaurants, while the open spaces of Brockwell Park, Tooting Bec Common and Clapham Common are all within easy reach.
Transport connections are excellent, with Streatham Hill railway station approximately half a mile away, providing convenient services towards Central London. Numerous bus services are also available from Streatham Place and the surrounding roads, providing straightforward connections towards Brixton, where the Victoria line offers fast access across the capital.
PRICING & AFFORDABILITY
Full Market Value: £250,000
50% Share Price: £125,000 (rent £197.49pcm)
Minimum 5% Mortgage Deposit (50% share): £6,250
Approximate Service Charges: £135.69pcm*
Shared Ownership Lease: Being extended by the current sellers to 990 years on completion
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 £250,000 and a purchaser would not need to meet the eligibility criteria listed above.
