Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 40% share!
Offered for sale with no onward chain and benefiting from parking too, this ground floor apartment features an open plan lounge/kitchen/diner with access to a private terrace, a double bedroom and a bathroom. Residents also benefit from allocated permit parking.
Situated in NW9, the property benefits from a well-connected and increasingly popular North West London location. The area offers a great selection of local amenities including supermarkets, cafés, restaurants and leisure facilities, with Colindale and nearby Hendon providing further shopping and lifestyle options. Residents can also enjoy access to a number of green open spaces, including Silkstream Park and Montrose Playing Fields, ideal for outdoor activities and relaxation.
The property is particularly well positioned for commuters, with Colindale Underground Station (Northern Line) within easy reach, providing direct access into Central London. Hendon Station also offers Thameslink services for swift connections across the capital. Road links are excellent, with the A5, A406 North Circular and M1 all easily accessible, making travel in and out of London straightforward.
PRICING & AFFORDABILITY
Full Market Value: £300,000
40% Share Price: £120,000 (rent £708.11pcm)
Minimum 5% Mortgage Deposit (40% share): £6,000
Approximate Service Charges: £253.84pcm*
Lease: 240 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 £300,000 and a purchaser would not need to meet the eligibility criteria listed above.
