Shared Ownership
This superb modern home is available to buy from as little as £90,000 with a 25% share!
Situated on the first floor, this well presented apartment offers a bright and well balanced layout. The accommodation includes a spacious lounge/diner with double windows and access through too the kitchen. There are two double bedrooms, a bathroom and allocated parking.
The apartment is ideally positioned in the ever popular Crystal Palace area, known for its vibrant community feel, independent cafés, restaurants, and boutique shops along the Triangle. The area also offers excellent leisure opportunities, including the expansive Crystal Palace Park, perfect for outdoor activities, as well as a variety of gyms, bars, and cultural spots.
For commuters, the property is well served by nearby stations including Crystal Palace and Gipsy Hill, providing regular services into London Bridge, Victoria, and beyond. A range of local bus routes also offer convenient connections across South London.
PRICING & AFFORDABILITY
Full Market Value: £360,000
25% Share Price: £90,000 (rent £536.64pcm)
Minimum 5% Mortgage Deposit (25% share): £4,500
Approximate Service Charges: £146.53pcm*
Lease: 108 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 £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 £360,000 and a purchaser would not need to meet the eligibility criteria listed above.
