Shared Ownership

This superb modern home is available to buy from as little as £405,000 with a 75% share!

A beautifully decorated and styled apartment situated on the first floor. Accommodation comprises kitchen opening out to the bright and spacious living/dining room, double bedroom and fully tiled family bathroom. Further benefits include a private balcony and an allocated, underground parking space.

This beautiful one bedroom flat is situated in the heart of Chiswick, offering easy access to a plethora of local amenities, including restaurants, cafes, and shops. Renaissance Square is located close to excellent transport links, including Chiswick Park and Turnham Green underground stations, and several bus routes, making it ideal for commuters.

PRICING & AFFORDABILITY

Approximate Size: 565 sq ft

Full Market Value: £540,000

75% Share Price: £405,000 (rent £340.89pcm)
Minimum 5% Mortgage Deposit (% share): £20,250
Approximate Service Charges: £297.76pcm*
Shared Ownership Lease: approx. 117 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 £80,000/£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 £540,000 and a purchaser would not need to meet the eligibility criteria listed above.