2 bed terraced house for sale

Magnetic Crescent, Enfield, London EN3

Shared ownership (Advertised price represents 30% share. Full market value £438,000). A rare chance to buy a shared-ownership house in London. This smartly-presented property is part of a substantial development just a short walk from Enfield Lock Station. There is an attractive kitchen at the front and a reception/dining room, with wood flooring, at the rear. A sliding glass door opens onto the neatly-maintained, south-facing garden. On the first floor of the house is a main bedroom with fitted, mirror-fronted wardrobe and en-suite shower room plus a similar-sized second double bedroom and a simple yet stylish bathroom. There is a fully boarded loft for storage. The wall and roof are well insulated, the windows are modern, double-glazed units throughout and heating is provided by a combination of ground-source heat-pump, solar water heating and photovoltaics. Behind the terrace, and easily accessible via the garden gate, is a parking area which includes a space allocated to this property.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 01/04/2008). Freehold transferred on 100% ownership.
Minimum Share: 30% (£131,400). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £547.94 per month (subject to annual review).
Service Charge: £79.77 per month (subject to annual review).
Guideline Minimum Income: Dual - £44,000 | Single - £50,300 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Enfield. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Kitchen

10' 5" x 5' 3" (3.17m x 1.60m)

Reception Room

17' 8" max. X 12' 10" max. (5.38m x 3.91m)

Garden

Approximately 24' 8" x 14' 10" (7.52m x 4.52m)

Bedroom 1

12' 10" max. X 9' 10" max. (3.91m x 3.00m)

En-Suite Shower Room

5' 9" x 3' 11" (1.75m x 1.19m)

Bathroom

7' 6" x 5' 9" (2.29m x 1.75m)

Bedroom 2

12' 11" max. X 11' 5" max. (3.94m x 3.48m)