1 bed flat for sale

Chenille Court, 40 Hackbridge Road, Wallington SM6

Shared Ownership

This superb modern home is available to buy from as little as £115,000 with a 40% share!

Located on the third floor and benefiting from a wonderful and spacious private balcony, this modern apartment is within 1⁄2 mile of Hackbridge train station and just a short distance from a host of local amenities including Ikea. The accommodation includes an open plan lounge/kitchen/diner with double doors that open to the balcony, a large double bedroom with built-in wardrobes and bathroom.

Located 0.4 miles from Hackbridge train station which has links into London Victoria, London Bridge, Clapham Junction & Kings Cross, Chenille Court is located near multiple green spaces, including Beddington Park, the River Wandle Trail and Beddington Farmlands Nature Reserve. Hackbridge, Carshalton & Wallington are all within walking distance and offer a great range of shops, restaurants and local amenities.
Pricing & affordability


Full Market Value: £287,500

40% Share Price: £115,000 (rent £503.12pcm)
Minimum 5% Mortgage Deposit (40% share): £5,750
Approximate Service Charges: £150.40pcm*
Shared Ownership Lease: Approx. 119 years
Council Tax Band: C
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 £287,500 and a purchaser would not need to meet the eligibility criteria listed above.