2 bedroom apartment for sale
Reservoir Court, Palace Road, SW2 3NG
Share percentage 40%, full price £500,000, £10,000 Min Deposit.
Share percentage 40%, full price £500,000, £10,000 Min Deposit.
Monthly Cost: £2,143
Rent £904,
Service charge £125,
Mortgage £1,114*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
A 2 bed shared ownership property available in Lambeth, London
Description
Modern & spacious two-bedroom apartment in Lambeth, South London, is now available for Shared Ownership.
The property comprises a large living room and open-plan kitchen, a modern bathroom with shower over bath as well as a private balcony with a beautiful vista of a park. There are also two good-sized bedrooms, one of them being ensuite. This would be perfect for a small family or couple.
The flat sits on the ground floor of the building, constructed around 2020. There are also allocated parking and communal bike stores.
Available for £200,000 for 40% share based on the marketing figure of £500,000.
Monthly rent - £904.21
Monthly Service Charge - £125.35
Total Monthly Charge - £1,029.56 plus mortgage required for 40% share.
An annual rent increase takes place every April
LocationSeveral train and bus stations are all close by, for easiness of travel to the Central area of the city or farther out. Central London can be reached in about 30 minutes. Brixton is a 5-minute drive or circa 15 minutes by bus.
Restaurants and pubs are all within walking distance, as well as parks such as Brockwell Park, Clapham Common and Tooting Common.
There are also several schools in the area for all levels, many of which are within walking distance.
Being in a residential area, this apartment gives both the advantages of the big city as well as the tranquillity of the suburbs.
EPC ratingEnergy rating band - B
Environmental impact band - A
Gross internal floor area: 73 m²
Living room & kitchen: 8.69 x 3.35 m
Bedroom 1: 4.98 x 3.0 m
Bedroom 2: 5.00 x 2.67 m
Patio: 3.66 x 2.03 m
Years remaining on lease: 121
In certain cases, the remaining length of the lease on a property can impact the availability of mortgages to prospective purchasers and the future saleability of the home. We recommend that you speak to your solicitor and your financial advisor to ensure that the lease length is suitable for your needs.
Key Features
- Two-bedroom apartment
- Private patio
- Ground floor
- Great transport links
- Available for 40% share
- 5% minimum deposit only
Particulars
Tenure: Not specified
Council Tax Band: Not specified
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 40%, full price £500,000, £10,000 Min Deposit. Calculated using a representative rate of 5.03%
