Share percentage 50%, full price £285,000, £7,125 Min Deposit.
Monthly Cost: £1,213
Rent £338,
Service charge £81,
Mortgage £794*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
You may be eligible for this property if:
- You have a gross household income of no more than £80,000 per annum.
- You are unable to purchase a suitable home to meet your housing needs on the open market.
- You do not already own a home or you will have sold your current home before you purchase or rent.
Summary
Available Now! 2 bedroom apartment in Broughton, Milton Keynes, available to purchase through the Shared Ownership Scheme.
Description
This 2 bedroom apartment is situated in Broughton, Milton Keynes and is available to purchase through the Shared Ownership scheme.
Full Market Value: £285,000
Share Available: 50%
Monthly Rent: £337.76
Monthly Service Charge: £81.19
Remaining Lease Term: 119 years
About the Property
As you walk into the property, you will be in the entrance hallway, which provides access to all rooms and has a spacious storage cupboard immediately on the right. The first door on the left opens into the bathroom, benefiting from bath and shower facilities, a heated towel railing and shelves for extra storage. To the left of this are the bedrooms, both are carpeted and enjoy great natural light from the large windows. At the end of the hallway is the spacious, open plan kitchen/ living room, which benefits from great natural light provided by the large window and double French doors leading to the private balcony. The kitchen has a modern finish and is fitted with an integrated oven, electric hob, and an extractor hood.
Outside is a private balcony, with space for a seating area. The apartment also has an allocated parking space on ground level.
About the Area
Broughton is a historic village, modern district and civil parish in Milton Keynes, Buckinghamshire, England. Today, it is a large district of (greater) Milton Keynes that has been developed around the original village. The name is Old English and meant 'brook farm’.
The facilities in the area include a "Hungry Horse" pub chain, and a range of small shops, hairdressers, and convenience stores. It also has a Pavilion,which hosts a variety of groups.
Broughton is located within easy walking distance of the Milton Keynes Coach way, and is approximately 4 miles from Milton Keynes City Centre, which is home to hundreds of brands and multiple places to eat and drink.
The district is also within commuting distance of London via Milton Keynes Central Station.
Shared Ownership, how does it work?
If buying a home seems out of reach, Shared Ownership* could be the answer and offers a great alternative to renting. This property has a 50% share available to purchase, and you will pay a subsidised rent on the remaining share, as displayed above. In the future you can purchase further shares in your home** or sell your share and move on.
*Properties are offered as leasehold.
**Some properties are restricted to the level of share you can purchase.
Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.
Key Features
- 50% Share Available
- 2 Bedrooms
- Triple Glazed Windows
- Fitted with modern dehumidifiers
- Private Balcony
- Allocated Parking
- Excellent Location
- Under 5 miles to Centre:MK
- Great Local Amenities
Particulars
Tenure: Leasehold
Lease Length: 121 years
Council Tax Band: B
Property Downloads
Key Information Document Floor Plan Brochure Energy CertificateVirtual Tour
Map
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
Outside Space/Garden: n/a - Private Balcony
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 50%, full price £285,000, £7,125 Min Deposit. Calculated using a representative rate of 5.03%
