1 bed flat for sale

Melliss Avenue, Richmond TW9

Shared Ownership

This superb modern home is available to buy from as little as £140,000 with a 40% share!

This beautiful ground floor apartment is situated close to the River Thames in the heart of residential Richmond. The well presented accommodation comprises a good size bedroom, a modern bathroom, a spacious reception room and separate kitchen.

Kew, located in the London Borough of Richmond upon Thames, offers a variety of amenities and is located just a 9-minute drive from Richmond High Street. There are train services from two local stations into London. The River Thames runs through the heart of Richmond and Kew benefits from many green spaces. There is convenient access to the M4 motorway network.
Pricing & affordability


Full Market Value: £350,000

40% Share Price: £140,000 (rent £792.28 pcm)
Minimum 5% Mortgage Deposit (40% share): £7,000
Approximate Service Charges: £180.19 pcm*
Lease: 970 years
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 £350,000 and a purchaser would not need to meet the eligibility criteria listed above.