1 bed flat for sale

Malvern House, 2 Palmer Road, London SW11

Shared ownership (Advertised price represents 25% share. Full market value £550,000). This generously-sized apartment is on the eighth floor of a recently-built block which forms part of the Prince of Wales Drive development. The property has a twenty-one-foot reception room with open-plan kitchen area, full-height windows and a glazed door that leads out onto the east-facing balcony. The bedroom includes a bank of fitted wardrobes, additional storage space has been provided in the entrance hall and the bathroom is stylish and high-spec. Well insulated walls, high performance glazing and underfloor heating fed from a communal hot water system all contribute towards a very good energy-efficiency rating. The development has a very pleasant communal garden plus Battersea Park is only a few minutes away, offering a lake, sports facilities and green, open spaces. Battersea Park Station and Queenstown Road are close and the redeveloped Battersea Power Station site provides restaurants, bars and stores as well as the Northern Line station. Alternatively, Vauxhall Station is only a brief bus/bike ride away. Food shopping is convenient with an on-site Tesco Express, plus Waitrose and Sainsbury's supermarkets in the local area. Nearby Chelsea Bridge means areas north of the Thames are also within easy reach.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (250 years from 01/01/2020).
Minimum Share: 25% (£137,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £760.28 per month (subject to annual review).
Service Charge: £208.95 per month (subject to annual review).
Personal Heating and Hot Water Charge: £41.26 (subject to annual review).
Guideline Minimum Income: Dual - £56,500 | Single - £64,900 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Wandsworth. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets may be permitted but only with prior consent from Clarion (which, unfortunately, can only be obtained once you are the property owner). There is no parking space offered with this property.

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Bathroom

7' 3" max. X 7' 0" max. (2.20m x 2.14m)

Bedroom

11' 10" x 10' 0" (3.61m x 3.06m)

Reception

21' 4" x 13' 11" (6.49m x 4.24m)

Kitchen

Included in reception measurement

Balcony

17' 1" max. X 5' 9" max. (5.20m x 1.74m)