2 bed Flat For Sale £140,000
Whitakers Lodge, Gater Drive, Enfield

Shared Ownership

This superb modern home is available to buy from as little as £140,000 with a 50% share!

Located on the first floor within this modern apartment block the spacious accommodation features a 19ft lounge/diner with a Juliet balcony and access to a separate fitted kitchen. There are two bedrooms (master with en suite) and a family bathroom. The apartment comes with allocated off road parking.

Within walking distance are both Gordon Hill station (Moorgate approx 30 mins) and Enfield Town Overground station (Liverpool St approx.. 30 mins). Also within walking distance of the house are a number of local shops and amenities along Lancaster Road and Chase Side including Sainsburys Local. Additionally Enfield town centre is within easy reach. The house is also well located with ease of access to both the A10, A406 & A1005 providing road links into London and across the wider Borough.

PRICING & AFFORDABILITY

Approximate Size: 53 sq m

Full Market Value: £280,000

50% Share Price: £140,000 (rent £412.48pcm)
Minimum 5% Mortgage Deposit (% share): £7,000
Approximate Service Charges: £31.88pcm*
Shared Ownership Lease: approx. 72 years
Council Tax Band: D

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 £80,000.
• 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 £280,000 and a purchaser would not need to meet the eligibility criteria listed above.