1 bed Flat For Sale £141,750
Fairbanks House, Samuelson Place, Isleworth

Shared Ownership

This superb modern home is available to buy from as little as £141,750 with a 45% share!

Built by the highly-regarded Shanly Homes in 2017 is this spacious first floor home. Just a short walk from both Isleworth train station & Hounslow East underground, Fairbank House is perfectly situated just off London Road, offering a large selection of shops, restaurants and local amenities with easy access to the A4/M4 providing excellent routes into and out of the city centre.

This well presented first floor apartment has accommodation that features an open plan lounge/kitchen/diner with doors opening to a private balcony, a spacious double bedroom and bathroom. The owner currently leases a parking space direct from the developer and this contract can be transferred to a new owner at the same cost.

PRICING & AFFORDABILITY

Full Market Value: £315,000

45% Share Price: £141,750 (rent £517.62pcm)
Minimum 5% Mortgage Deposit (% share): £7,088
Approximate Service Charges: £120 pcm*
Shared Ownership Lease: approx. 118 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. 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 £315,000 and a purchaser would not need to meet the eligibility criteria listed above.