1 bedroom apartment for sale
2 Trevelyan Road, SW17 9LN
Share percentage 45%, full price £380,000, £8,550 Min Deposit.
Share percentage 45%, full price £380,000, £8,550 Min Deposit
Monthly Cost: £1,625
Rent £512,
Service charge £160,
Mortgage £953*
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. 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 £380,000 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 with a £171,000 with a 45% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as with a £171,000 with a 45% share!
A beautifully presented one bedroom second floor apartment located in the heart of Tooting, close to amenities and enjoying a private aspect at the back of this modern development. The apartment benefits from natural light throughout with accommodation comprises entrance hall with built in storage, bathroom, bedroom, fitted kitchen and a living/dining room. The property is offered to the market with no onward chain complications.
The property is located in a residential area close to all local amenities including shops, pubs, restaurants, and cafes.
Tooting Broadway tube station is a 7-minute walk away and Tooting train station is roughly a 10-minute walk away. Tooting market and high street are also only a short walk from the property.
PRICING & AFFORDABILITY
Full Market Value: £380,000
45% Share Price: £171,000 (rent £511.97 pcm)
Minimum 5% Mortgage Deposit (45% share): £8,550
Approximate Service Charges: £159.97 pcm*
Shared Ownership Lease: approx. 89 years
Council Tax Band: C
Key Features
• Modern shared ownership home
• Spacious double bedroom
• Living/dining room
• Modern bathroom
• Fitted kitchen
• No onward chain!
Particulars
Tenure: Leasehold
Lease Length: 89 years
Council Tax Band: C
Property Downloads
Floor Plan Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
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 45%, full price £380,000, £8,550 Min Deposit. Calculated using a representative rate of 5.03%
