1 bed Flat For Sale £204,750
89 Park Road, London

Shared Ownership

This superb modern apartment is available to buy from as little as £204,750 with a 65% share!

This second floor apartment features a spacious living/dining room which opens through to a fitted kitchen. The home further benefits from a double bedroom and bathroom.

Colliers Wood is 7 miles south-west of central London, in the Borough of Merton. Neighbouring areas include Wimbledon and Tooting. Colliers Wood High Street connects directly to the main A24 road north into the city – or south to the Surrey countryside.

A 5-minute walk from Park Road is Colliers Wood Underground Station, with frequent Northern line trains to central London – just 23 minutes to London Bridge or Charing Cross. The area is also well connected for bus, rail and cycle transport, and for London’s international airports.

Colliers Wood High Street retains a traditional mix of small local retailers and services, centred around the Underground station. By contrast, some of the UK’s biggest and best-known stores are found just along the street in the modern Priory Retail Park and Tandem Centre – including Sainsbury’s, M&S, Currys PC World, Next, Clarks, TK Maxx, Argos, Sports Direct and Boots. Neighbouring Wimbledon has a smart shopping district, including two department stores and the Centre Court mall. Also nearby is Merton Abbey Mills, a unique collection of independent artisans and boutiques, housed in the charming Victorian mill buildings of the William Morris works.

PRICING & AFFORDABILITY

Full Market Value: £315,000

65% Share Price: £204,750 (rent om remaining share £268.65pcm)
Minimum 5% Mortgage Deposit (65% share): £10,238
Approximate Service Charges: £156.27pcm*
Shared Ownership Lease: approx. 84 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.

* This home can also be purchased outright (100% of the value) which is £315,000 and a purchaser would not need to meet the eligibility criteria listed above.