Shared Ownership
This superb modern apartment is available to buy from as little as £275,000 with a 55% share!
A well presented, bright and spacious ground floor apartment with private garden, situated in a fantastic location. Accommodation comprises open plan kitchen/reception room, family bathroom and two double bedrooms with built in wardrobe and en suite to the main bedroom. The property further benefits from a private garden and a large communal roof terrace
Time House is very well located for a short walk to Clapham Junction, for both Clapham and Wandsworth Commons and the vast array of local amenities located on St. John's Hill and Northcote Road.
PRICING & AFFORDABILITY
Approximate Size 68.4 sq m
Full Market Value: £500,000
55% Share Price: £275,000 (rent £682.94 pcm)
Minimum 5% Mortgage Deposit (55% share): £13,750
Approximate Service Charges: £160.30 pcm*
Shared Ownership Lease: approx. 117 years
Council Tax Band: C
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.
** This home can also be purchased outright (100% of the value) which is £510,000 and a purchaser would not need to meet the eligibility criteria listed above.
