This superb modern home is available to buy from as little as £116,250 with a 25% share!
Situated on the first floor of a modern residential development, this beautifully arranged apartment offers spacious, contemporary accommodation with the added benefit of a private terrace. The property features a generous open plan living, kitchen and dining area, a principal bedroom benefits from its own en-suite shower room and there is a second well proportioned double bedroom, family bathroom and useful internal storage cupboard complete the accommodation. Externally are visitor parking bays.
Phoebes Place is conveniently situated in Catford, a vibrant and increasingly popular area of South East London offering a fantastic selection of local amenities. Catford town centre provides a variety of supermarkets, independent shops, cafés, restaurants and everyday conveniences, whilst nearby green spaces including Mountsfield Park and Ladywell Fields offer excellent opportunities for outdoor recreation, walking and leisure activities. The surrounding area also benefits from a selection of schools, leisure facilities and community amenities.
The development is well positioned for commuters, with Catford and Catford Bridge railway stations providing regular services towards Central London, including connections to London Bridge, Blackfriars and Charing Cross. A comprehensive network of local bus routes offers convenient access to neighbouring areas including Lewisham, Bromley and Greenwich, whilst the nearby South Circular Road provides connections across South London and beyond.
PRICING & AFFORDABILITY
Full Market Value: £465,000
25% Share Price: £116,250 (rent £873.56pcm)
Minimum 5% Mortgage Deposit (25% share): £5,813
Approximate Service Charges: £159.74pcm*
Shared Ownership Lease: 119 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 £80,000/£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 £465,000 and a purchaser would not need to meet the eligibility criteria listed above.
