Shared Ownership

This superb modern home is available to buy from as little as £137,500 with a 25% share!

A stunning second floor apartment providing bright and spacious accommodation within this 5 year old development. The property provides an impressive open plan kitchen/reception room with access to one of two private terraces, two double bedrooms and two bathrooms. There is ample storage throughout the apartment, secure underground parking and a concierge service.

Whetstone is an area in North London, located within the London Borough of Barnet. It is a suburban area known for its residential character, green spaces, and proximity to good transport links into Central London. The property is situated just a short walk from Totteridge & Whetstone tube station.
Whetstone offers a range of local amenities, including shops, restaurants, and schools.

PRICING & AFFORDABILITY

Full Market Value: £550,000

25% Share Price: £137,500 (rent £1218.40 pcm)
Minimum 5% Mortgage Deposit (25% share): £6,875
Approximate Service Charges: £320.46 pcm*
Shared Ownership Lease: approx. 123 years
Council Tax Band: E

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 £550,000 and a purchaser would not need to meet the eligibility criteria listed above.