2 bed Flat For Sale £315,000
Bensham Lane, Croydon, CR0

SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £315,000). A stylishly-presented apartment on the sixth floor of this modern development. The property has a triple-aspect reception room with semi-open-plan kitchen and a corner balcony that provides a far-reaching view of the surrounding area. There is a principle bedroom with fitted wardrobe and en-suite shower room plus a second double bedroom, a main bathroom and some useful hallway storage. Well insulated walls, high performance glazing and gas central heating help to achieve a very good energy-efficiency rating. There are shops on London Road plus many more at the nearby Whitgift and Centrale Shopping Centres. Bensham Lane is only a short walk from West Croydon Station and East Croydon is also within easy reach. The apartment further benefits from a space in the gated car park.

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 2015).
Minimum Share: 40% (£126,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £588.30 per month (subject to annual review).
Service Charge: £134.23 per month (subject to annual review).
Ground Rent: £250.00 for the year.
Guideline Minimum Income: Dual - £45,500 Single - £52,000 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Croydon. 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. Pets not permitted (except assistance animals).

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.