Shared Ownership!
This superb modern home is available to buy from as little as £184,500 with a 45% share!
Built by the highly-regarded Shanly Homes in 2017 is this spacious third floor home. Just a short walk from both Isleworth train station & Hounslow East underground, Fairbanks House is perfectly situated just off London Road, offering a large selection of shops, restaurants and local amenities with easy access to the A4/M4 providing excellent routes into and out of the city centre.
The accommodation features an open plan lounge/kitchen//dinin/living space-with doors opening on to a private balcony, two double bedrooms and a well-appointed bathroom. This property benefits from no onward chain but PLEASE NOTE THERE IS NO ALLOCATED PARKING (We understand from the current owner that there may be an opportunity to rent a parking space from the management company)
PRICING & AFFORDABILITY
Full Market Value: £410,000
45% Share Price: £184,500 (rent £630 pcm)
Minimum 5% Mortgage Deposit (45% share): £9225
Approximate Service Charges: £150pcm*
Lease: 117 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 £410,000 and a purchaser would not need to meet the eligibility criteria listed above.
