Property Details: - Type: Apartment - Bedrooms: 1 - Bathrooms: 1
Agent: SOWN - National Phone: 023 8221 9179
Shared Ownership<br/><br/>This chain free home is available to buy from as little as £182,700 with a 63% share!<br/><br/>Offered to the market with no onward chain, this second-floor one bedroom apartment presents an excellent opportunity for buyers. The property is in need of modernisation throughout, providing a blank canvas for refurbishment and improvement.<br/><br/>The apartment comprises a well proportioned reception room, a separate kitchen, a double bedroom and a family bathroom. <br/><br/>Duffield Drive is conveniently positioned close to a wide range of local amenities. Residents can enjoy easy access to nearby high streets offering supermarkets, independent shops, cafés, and restaurants. There are also parks and green spaces within walking distance, providing welcome outdoor areas for leisure and exercise. The area benefits from everyday essentials being readily accessible, making it a practical and appealing place to live.<br/><br/>The property is well connected for travel across London. Nearby Underground and Overground stations offer direct links into central London and surrounding areas, making commuting straightforward. Several bus routes also serve the area, providing additional transport flexibility. Road users benefit from convenient access to major routes in and out of the city, ensuring this location suits both commuters and those who enjoy exploring London.<br/><br/>PRICING & AFFORDABILITY<br/><br/>Full Market Value: £290,000<br/><br/>63% Share Price: £182,700 (rent £287.76pcm)<br/>Minimum 5% Mortgage Deposit (63% share): £9,135<br/>Approximate Service Charges: £154.85pcm* <br/>Lease: The flat is to be sold with a new extended 990 year lease<br/><br/>ELIGIBILITY<br/><br/>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.<br/><br/>To be eligible for shared ownership you would need to meet the following criteria:<br/><br/>• Your annual household income does not exceed £90,000.<br/>• You have a deposit of at least 5% of the share value<br/>• You do not own another property or have your name on the deeds or a mortgage for a property worldwide. <br/>• This will be your only residence.<br/>• You are a permanent UK resident or have indefinite right to remain.<br/><br/>*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.<br/><br/>* This home can also be purchased outright (100% of the value) which is £290,000 and a purchaser would not need to meet the eligibility criteria listed above. <br/>
