residential sale

85% SOLD, £161,000

Prices from £161,000 (based on the minimum equity share of 46% for a two bedroom apartment). haart Land and New Homes are proud to present the Shared Ownership Element of Phase 3 at Rectory Park, Northolt. Full property description Following the successful launch of Phase 1, haart Land and New Homes are releasing the next part of Rectory Park. Once complete,this mixed use development will offer a range of homes to people in the local area, enabling them to have the opportunity to get onto the housing ladder. Rectory Park places a strong focus on the design of landscaping and open spaces to complement the developments close proximity to the neighboring Northolt & Greenford Countryside Park. There is an outstanding collection of two and three bedroom Shared Ownership apartments. Each new built apartment has been designed to make use of light and space with the added benefit of a balcony or terrace. All apartments have been built to the highest specification ensuring these impressive homes offer you the very best in modern living. These beautiful homes at Rectory Park are available to purchase on a Shared Ownership basis, offering a perfect opportunity for local people to get a step on the property ladder. The Shared Ownership scheme aims to help those who want to buy a home of their own, but who cannot afford the cost of buying outright. At Rectory Park, Shared Ownership gives you the opportunity to buy a share of your new home, starting at 46% or more if you can afford it. The rest is owned by Network Homes and you pay a subsidised rent on this portion in addition to your own mortgage. You will also need to have savings to cover any deposit required by your mortgage lender and the costs involved in moving. There will also be a service charge payable to cover the cost of the communal maintenance and this includes the buildings insurance. Shared Ownership is subject to availability and qualifying criteria. Priority will be given to people living or working in the London Borough of Ealing. Every application is assessed individually. Following the initial purchase, you have the option of increasing your share when you can afford to do so. This is called 'staircasing' which means you could eventually own all of the property. The benefit is the more you own, the less rent you pay. There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet. The general eligibility criteria for Shared Ownership is as follows: You must be at least 18 years old Your annual household income must be less than £90,000 You should generally be a first time buyer, i.e. you don't already own a home. If you do already own, you must be in the process of selling it You should not be able to afford to buy a home suitable for your housing needs on the open market You must show you are not in mortgage or rent arrears You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgments). You must be able to demonstrate can afford the regular payments and costs involved in buying a home You should have savings or to be able to easily access at least £4,000 to cover the costs of buying a home. This is a guideline figure. In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit. Property Features Kitchens Fitted kitchens by Symphony New York range, two colour schemes cashmere or white, Indesit integrated oven, hood and hob with stainless steel splashback, Indesit integrated fridge/freezer, Indesit integrated dishwasher, Indesit washer/dryer, LED chrome downlighters Bathrooms Contemporary sanitary ware in white finished with matching floor and wall tiles, Mirrored wall cabinet with integral shaver socket and LED feature lighting, chrome heated towel rail, shower and glass screen over bath, waterproof brushed chrome downlighters General Grey carpet to bedrooms, laminate flooring colour chestnut natural to hallway and living room, fitted wardrobe to master bedrooms with sliding opaque glass doors, entry phone system, secure cycle store, CCTV installed, smoke alarms and carbon monoxide detectors, 12 year NHBC new home warranty Windows & Doors White oak veneered doors to entrance and internal doors, UPVC grey windows, UPVC grey external doors Home Entertainment & Communication Combination sockets for TV in living room and master bedroom, Sky Q available Further information Property reference HRT013508317 Broadband Check availability Mortgage calculator Try our mortgage calculator