Shared Ownership

This superb modern home is available to buy from as little as £477,000 with a 90% share!

This well presented property occupies a pleasant position on the ground floor of this modern development in Clapham. The accommodation provides a modern kitchen, large reception room, two double bedrooms and a bathroom. There is the further benefit of access to a communal patio area, a long lease and permit parking.

Clapham Park is ideally located, within walking distance of Abbeville Road and its range of shops, restaurants and amenities while Clapham Common offers 220 acres of expansive greenery.

Nearby Clapham South tube station is an approximate 15 minute walk, giving you access to the Northern line, meaning you have swift access into Central London and beyond!

PRICING & AFFORDABILITY

Full Market Value: £530,000

90% Share Price: £477,000 (rent £103.54pcm)
Minimum 5% Mortgage Deposit (90% share): £23,850
Approximate Service Charges: £151.17pcm*
Shared Ownership Lease: approx. 113 years
Council Tax Band: D

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 £530,000 and a purchaser would not need to meet the eligibility criteria listed above.