Shared Ownership
This superb modern home is available to buy from as little as £165,000 with a 50% share!
Offered to the market with no onward chain complications is this two-bedroom ground floor apartment in Streatham Hill. The property is conveniently situated approximately half a mile from the train station. Accommodation comprises two bedrooms, modern shower room and a spacious living/dining room and separate kitchen. Outside there is an allocated parking space and the property will be sold with a 961 year lease.
Streatham Hill in the borough of Lambeth provides many green spaces and parks – Hillside Gardens, Streatham Common, Clapham Common, Brockwell Park, Kennington Park, and more.
Streatham High Road is a walkable 5-6 minutes from the property and hosts a diverse mix of independent retailers, cafes, supermarkets, and corner shops—making it a thriving local high street.
Streatham Hill Train Station provides regular services across London and many local bus routes.
PRICING & AFFORDABILITY
Full Market Value: £330,000
50% Share Price: £165,000 (rent £411.33pcm)
Minimum 5% Mortgage Deposit (% share): £8,250
Approximate Service Charges: £164.01pcm*
Lease: 961 years (extended 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 £330,000 and a purchaser would not need to meet the eligibility criteria listed above.
