1 bed flat for sale

Palace Road, London SW2

Shared Ownership

This superb modern home is available to buy from as little as £135,000 with a 30% share!

Offered to the market with no onward chain complications is this beautifully presented bright and spacious top floor apartment. This property provides a superb open plan kitchen/dining/living space with double doors opening on to a large balcony with pleasant views. There is a good size double bedroom with a built in wardrobe and a bathroom.

This property is conveniently located approximately 1.4 miles from central Brixton and 1.3 miles from Streatham High Road. Both locations offer a variety of amenities, shops and eateries.
The closest train station is Streatham Hill which offers regular services across London. Brixton Underground is also nearby.
Pricing & affordability


Full Market Value: £450,000

30% Share Price: £135,000 (rent £860.51 pcm)
Minimum 5% Mortgage Deposit (30% share): £6,750
Approximate Service Charges: £111.67 pcm*
Lease: 120
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 £450,000 and a purchaser would not need to meet the eligibility criteria listed above.