Shared Ownership
This superb modern home is available to buy from as little as £112,500 with a 25% share!
This beautifully presented third floor apartment is located in Clapham, close to local amenities and the London Underground. The elegant accommodation provides a double bedroom with built in wardrobes, bathroom, fully fitted kitchen open plan with a spacious living/dining room with doors opening on to a private balcony.
The property sits in an excellent location for commute travel for work and overall living. All local amenities are nearby, and there are tube stations at Clapham Common (Northern Line) and Brixton (Victoria Line). You can reach Central London in less than half an hour from the flat. There are also large green areas such as Clapham Common and Brockwell Park. Several schools are also in the area, many of which are within walking distance.
PRICING & AFFORDABILITY
Full Market Value: £450,000
25% Share Price: £112,500 (rent £977.43pcm)
Minimum 5% Mortgage Deposit (25% share): £5,625
Approximate Service Charges: £120.23pcm*
Lease: 123 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 £450,000 and a purchaser would not need to meet the eligibility criteria listed above.
