Flat 12, 31 Macaulay Road, London

Shared Ownership

This superb modern home is available to buy from as little as £125,000 with a 25% share!

This well proportioned first floor apartment is ideally located within SW4, and is offered to the market with no onward chain. The apartment offers thoughtfully laid out accommodation comprising a generous open plan kitchen/reception/dining room, providing a versatile living and entertaining space, a spacious double bedroom, and a modern bathroom accessed off the central hallway. The current owner has a permit for on road parking.

Macaulay Road is a popular residential street situated within easy reach of the excellent amenities of Clapham High Street, Abbeville Village and Brixton. Residents are spoilt for choice with a wide range of cafés, independent shops, bars and restaurants nearby, as well as supermarkets and everyday conveniences. The open green spaces of Clapham Common are also within easy walking distance, offering over 200 acres of parkland ideal for recreation, exercise and socialising.

The property is exceptionally well connected. Clapham North Underground Station (Northern Line) and Clapham High Street Overground Station are both close by, providing fast and convenient access into the City, West End and Canary Wharf. Brixton Underground Station (Victoria Line) is also easily accessible, offering further rapid links into central London. Numerous bus routes operate locally, ensuring excellent connectivity across South London and beyond.

PRICING & AFFORDABILITY

Full Market Value: £500,000

25% Share Price: £125,000 (rent £889.95pcm)
Minimum 5% Mortgage Deposit (25% share): £6,250
Approximate Service Charges: £238.56pcm*
Lease: 108 years remaining

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.