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Church Road

Shared ownership

Church Road, Mitcham, CR4 3BE

For sale
Shared ownership
Photo of Church Road
Live from space album cover

from

£117,500

with min. deposit

£5,875

50% Share from
£117,500
Full market price
£235,000
Minimum deposit
£5,875
Monthly rent
£231
Monthly service charge
£209.18

1 bedroom flat

Priced at £117,500 for a 50% share
Full market value of £235,000
Current rent payable £231.37 pcm
Service charges are currently £209.18 pcm
Subject to annual reviews

Description
Entrance hallway

Lounge/Kitchen (5.54m x 4.79m)

Bathroom (1.85m x 2.1m).

Bedroom (4.68m x 2.94m).

Total gross internal floor area is approximately 49.28m2.

 

Viewings are by appointment only. Please can you ensure that you submit your interest through the Property Booking Website and we will contact you with all the relevant information to arrange that viewing.

If you would like to apply for this property after you have conducted a viewing, a PDF writable application …

Features

Bedrooms1
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

from

£117,500

with min. deposit

£5,875

50% Share from
£117,500
Full market price
£235,000
Minimum deposit
£5,875
Monthly rent
£231
Monthly service charge
£209.18
Optivo (Resales)

Optivo (Resales)

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

Read more on the Shared Ownership FAQ

Help to Buy is an equity loan scheme to help you buy a new home. If you have a 5% deposit and can cover 75% of the value of the home with a mortgage (or 55% in London), the Government will lend you up to the remaining 20% (40% in London) in the form of an equity loan that carries 0% interest in the first 5 years. This is available on a variety of new-build properties for first time buyers and is subject to the property price, the subsequent price cap in that region and the developer offering the option.

You can read more on the Help to Buy FAQ

The rules for shared ownership are different to a private purchase. In short, as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Help to Buy is available to first time buyers only and the property value itself must fall below a price threshold for that specific area which varies in terms of the average house price in the region.

Read more about eligibility in the FAQ

Some properties require you to live or work in the local area in order to be eligible to buy them. By knowing the areas in which you live and work, we can make sure you see everything available to you.

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