Shared Ownership in Barnet, Barnet 2 bedroom Apartment

  • £540,000

    Equity share: 30% / £162,000

Lightfield - Plot 17
For Sale Shared Ownership

Shared Ownership in Barnet, Barnet 2 bedroom Apartment

Lightfield - Plot 17
  • £540,000

    Equity share: 30% / £162,000

Property Overview

  • Apartment
  • Property Type
  • 2
  • Bedrooms
  • 1
  • Bathroom

Property Description

Shared Ownership

This brand new home is available to buy from as little as £162,000 with a 30% share!

Discover Lightfield in Barnet with everything you want close by, yet just 30 minutes from the City. This exclusive collection of apartments, set behind an elegant gated entrance, are perfectly located in the heart of Barnet Town Centre. These contemporary homes offer excellent access to the restaurants and leisure facilities close by.

The Spires shopping centre is under a two minute walk from Lightfield and here you’ll find a Waitrose and Partners, Waterstone’s bookshop and a host of stores. The centre is also home to regular food markets, including a vegan market. When you want a little pampering, try the Orchid Retreat day spa. The High Street has a butcher’s, baker’s, patisserie and shops, including the chic Room 89 lifestyle boutique.

Travelling into the capital for work or pleasure couldn’t be simpler, with High Barnet Underground Station just a 12-minute walk away. Frequent Northern Line trains connect you to King’s Cross and St Pancras International in a little over half an hour and open up connections across London. New Barnet Overground Station is less than two miles from Lightfield and from here you can be in Moorgate in 32 minutes or Welwyn Garden City in 19 minutes. Road links to the M25, M1 and A1 give excellent access to Central London and the North.

This brand new ground floor apartment features an open plan lounge/kitchen/diner which opens to a patio area, two bedrooms (master with en suite shower) and bathroom.

PRICING & AFFORDABILITY

Approximate Size 768 sq ft

Full Market Value: £540,000

30% Share Price: £162,000 (rent £866.25pcm)
50% Share Price: £270,000 (rent £618.75pcm)
75% Share Price: £405,000 (rent £309.38pcm)

Minimum 5% Mortgage Deposit (30% share): £8,100
Approximate Service Charges: £124.59 pcm*
Shared Ownership Lease: 250 years
Council Tax Band: TBC
Parking: None

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.

At Lightfield you can buy a minimum 30% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

LOCAL AREA CONNECTION

To comply with our Section 106 obligation, priority to be given to Bands 1 and 2 in the first three months and after this period Band 3 will be become eligible.
1. Applicants who live in Barnet – BAND 1.
2. Applicants who work in Barnet – BAND 2.
3. Applicants who DON’T live or work in Barnet – BAND 3 (Will be available to applicants after 3 months of marketing properties – March 2024 onwards).

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Property Address

Open on Google Maps
  • Address Lightfield - Plot 17
  • City Barnet
  • County Barnet
  • Postal Code EN5 5XP

Details

Updated on February 13, 2024 at 1:43 pm
  • Property ID: MS-122368
  • Rental Amount Per Month: £866/Month
  • Bedrooms: 2
  • Bathroom: 1
  • Property Type: Apartment
  • Property Status: For Sale, Shared Ownership
  • Available from: 02/13/2024
  • Estimated Monthly Service Charge (£): 124.59
  • Value Of The Equity Share: 30% / £162,000
  • Overall Property Value: £540,000
  • Tenure: Leasehold
  • Council Tax Band: Unknown
  • Length of Lease: 249

Contact SOWN about: Shared Ownership in Barnet, Barnet 2 bedroom Apartment

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