Shared Ownership
This superb home is available to buy from as little as £87,500 with a 25% share!
Located within walking distance to Feltham Mainline Station (Zone 6) which serves London Waterloo in 29 minutes and with numerous bus routes available within walking distance, this magnificent ground floor conversion apartment was completed in 2023 and comes with a 998 year lease remaining. Heathrow Airport, the M3, M4 and M25 are all within easy access making Hanworth Road an ideal location for commuters.
Being offered to the market with no onward chain, the accommodation comprises a spacious, open plan 35ft lounge/kitchen/diner with doors that open onto a large, private terrace, a double bedroom that also has the same access to the terrace, a well appointed bathroom suite and ample storage.
PRICING & AFFORDABILITY
Full Market Value: £350,000
25% Share Price: £87,500 (rent £644.94 pcm)
Minimum 5% Mortgage Deposit (% share): £4,375
Approximate Service Charges: £75 pcm*
Shared Ownership Lease: approx. 998 years
Council Tax Band: C
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 £350,000 and a purchaser would not need to meet the eligibility criteria listed above.
