1 bedroom apartment for sale
Renaissance Square Apartments, W4 2DZ
Share percentage 75%, full price £525,000, £19,688 Min Deposit.
Share percentage 75%, full price £525,000, £19,688 Min Deposit.
Monthly Cost: £2,883
Rent £341,
Service charge £298,
Mortgage £2,244*
Calculated using a representative rate of 5.26%
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 £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.
Summary
This superb modern home is available to buy from as little as £393,750 with a 75% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £393,750 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: £525,000
75% Share Price: £393,750 (rent £340.89pcm)
Minimum 5% Mortgage Deposit (% share): £19,687.50
Approximate Service Charges: £297.76pcm*
Shared Ownership Lease: approx. 117 years
Council Tax Band: E
Key Features
Modern Shared Ownership home
Allocated parking space
Tastefully decorated
Private balcony
Close to River Thames
Sought-after location
Particulars
Tenure: Leasehold
Lease Length: 117 years
Council Tax Band: E
Property Downloads
Floor PlanMap
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 75%, full price £525,000, £19,688 Min Deposit. Calculated using a representative rate of 5.26%
