2 bedroom apartment for sale

Under Offer

Festival Court, Cleeve Way, SM1 3TU

£78,000 · Shared Ownership Resale

Share percentage 30%, full price £260,000, £3,900 Min Deposit.

Under Offer
2 bedrooms
Floor plan
floor-plan
Floor plan
floor-plan
£78,000 Shared Ownership Resale

Share percentage 30%, full price £260,000, £3,900 Min Deposit.

Monthly Cost: £1,395
Rent £699, Service charge £262, Mortgage £434*

Calculated using a representative rate of 5.03%

Calculate estimated monthly costs

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Summary

A 2 bed shared ownership property available in Sutton, Surrey

Description

Beautiful, spacious two-bedroom apartment in Sutton, London. The property is on the first floor and comprises one double bedroom, a second bedroom, a lounge area with a fitted kitchen and bathroom, and an entrance hall with a secure entry system. The property also benefits from communal grounds, secure bike storage, and allocated parking.

Minimum income required: £36,252

This is reduced if a larger deposit is available.

More shares can be purchased, from a minimum of 5%.

Available for £78,000 for 30% share based on the marketing figure of £260,000.

Monthly rent - £699.12
Monthly Service Charge - £261.93
Total Monthly Charge - £961.05 plus mortgage required for 30% share.

An annual rent increase takes place every April

Location

Good travel links with and within walking distance to St Helier and Sutton Common. Close to local shops and local amenities and Leisure centre.

EPC rating

Energy Rating Band - B
Environmental Impact Band - B

Layout and dimensions

Ground Floor:
Communal entrance lobby with staircase and lift

First Floor:
Private entrance hall with fitted storage/airing cupboards

Bedroom one:
3.19m x 3.19m

Bedroom two:
2.63m x 3.26m (maximum dimensions).

Bathroom with WC

Open plan kitchen/reception room:
5.45m x 3.02 plus 4.89 x 2.22m

Outside:
Communal grounds and areas including bin and bike stores. Allocated parking space.

Lease information

Years remaining on lease: 177

In certain cases, the remaining length of the lease on a property can impact the availability of mortgages to prospective purchasers and the future saleability of the home. We recommend that you speak to your solicitor and your financial advisor to ensure that the lease length is suitable for your needs.

Key Features
  • Two bedrooms
  • First floor
  • Short walk to St Helier station
  • Communal grounds
  • Allocated parking space.
  • 5% Deposit
  • Available for 30% share
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan
Map
Sutton Common (0.29 miles) West Sutton (0.77 miles) Sutton (0.97 miles)
Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£78,000
Shared Ownership Resale
Estimated Monthly Cost:£1,395
Rent £699
Service Charge £262
Mortgage £434

Share percentage 30%, full price £260,000, £3,900 Min Deposit. Calculated using a representative rate of 5.03%


Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.