1 bedroom apartment for sale
Park Road, SW19 2BD
Share percentage 65%, full price £275,000, £8,938 Min Deposit.
Share percentage 65%, full price £275,000, £8,938 Min Deposit
Monthly Cost: £1,448
Rent £303,
Service charge £149,
Mortgage £996*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
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 £275,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This second floor apartment features a spacious living/dining room which opens through to a fitted kitchen. The home further benefits from a double bedroom and bathroom.
Description
Shared Ownership
This superb modern apartment is available to buy from as little as £178,750 with a 65% share!
This second floor apartment features a spacious living/dining room which opens through to a fitted kitchen. The home further benefits from a double bedroom and bathroom.
Colliers Wood is 7 miles south-west of central London, in the Borough of Merton. Neighbouring areas include Wimbledon and Tooting. Colliers Wood High Street connects directly to the main A24 road north into the city – or south to the Surrey countryside.
A 5-minute walk from Park Road is Colliers Wood Underground Station, with frequent Northern line trains to central London – just 23 minutes to London Bridge or Charing Cross. The area is also well connected for bus, rail and cycle transport, and for London’s international airports.
Colliers Wood High Street retains a traditional mix of small local retailers and services, centred around the Underground station. By contrast, some of the UK’s biggest and best-known stores are found just along the street in the modern Priory Retail Park and Tandem Centre – including Sainsbury’s, M&S, Currys PC World, Next, Clarks, TK Maxx, Argos, Sports Direct and Boots. Neighbouring Wimbledon has a smart shopping district, including two department stores and the Centre Court mall. Also nearby is Merton Abbey Mills, a unique collection of independent artisans and boutiques, housed in the charming Victorian mill buildings of the William Morris works.
PRICING & AFFORDABILITY
Full market value: £275,000
65% Share Price: £178,750 (rent £303.17 pcm)
Minimum 5% Mortgage Deposit (65% share): £8937.50
Service Charge: £148.90 pcm
Lease Remaining: 84 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
Double bedroom
Second floor
Approx. 0.3 miles from Colliers Wood underground
Open plan living space
Less than 3 miles from Wimbledon Park and Tennis Club
Particulars
Tenure: Leasehold
Lease Length: 84 years
Council Tax Band: C
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: No
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 65%, full price £275,000, £8,938 Min Deposit. Calculated using a representative rate of 5.03%
