Samuelson House

Overview

Shared Ownership

This superb modern home is available to buy from as little as £95,000 with a 25% share!

This spacious second floor apartment is well presented throughout. The well planned accommodation is generously proportioned and comprises a light and airy reception room which is open plan with a fully fitted kitchen and a door to a covered balcony, two large double bedrooms both offering access to a second covered balcony, an en-suite shower room servicing the master bedroom, a further family bathroom and communal rooftop gardens. Please note, this property does not have any allocated parking

This property is located a short distance away from Southall Train station which is now on the Elizabeth Line. There is a wealth of local amenities nearby and the M4 is easily accessible.

PRICING & AFFORDABILITY

Full Market Value: £380,000

25% Share Price: £95,000 (rent £681.26pcm)
Minimum 5% Mortgage Deposit (% share): £4750
Approximate Service Charges: £144.58pcm* 
Shared Ownership Lease: approx. 119 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 £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 £380,000 and a purchaser would not need to meet the eligibility criteria listed above.