Shared Ownership
This superb modern home is available to buy from as little as £85,000 with a 25% share!
A well-presented one-bedroom second-floor apartment situated within Cerulean House on Oldfield Lane North, Greenford. Offering approximately 613 sq ft of accommodation, the property features a spacious open-plan kitchen, reception and dining room, a generously sized double bedroom, modern bathroom and useful internal storage.
The open-plan living space provides plenty of room for both seating and dining areas, alongside a contemporary kitchen, while the bedroom is particularly well proportioned. Additional storage off the hallway adds further practicality to the accommodation.
Cerulean House is conveniently positioned for local shops and everyday amenities, with Greenford station approximately 0.3 miles away, providing Central line and rail services. Horsenden Hill and its surrounding green spaces are also within easy reach.
PRICING & AFFORDABILITY
Full Market Value: £340,000
25% Share Price: £85,000 (rent £499.23pcm)
Minimum 5% Mortgage Deposit (25% share): £4,250
Approximate Service Charges: £247.32pcm*
Lease: 990 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 £340,000 and a purchaser would not need to meet the eligibility criteria listed above.
Council Tax Band C
