1 bedroom apartment for sale
Lords Court, 16 Headingley Drive, BR3 1BS
Share percentage 25%, full price £300,000, £7,500 Min Deposit.
Share percentage 25%, full price £300,000, £7,500 Min Deposit.
Monthly Cost: £1,222
Rent £522,
Service charge £319,
Mortgage £381*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
You may be eligible for this property if:
- You have a gross household income of no more than £90,000 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 through our resale shared ownership scheme, a 2nd floor, one-bedroom apartment in Beckenham.
Description
Property description:
The property comprises a communal/wheelchair accessible entrance, lift access, entry system, open plan kitchen, kitchen with integrated and standalone appliances, dining/living area, one-bedroom, family bathroom, storage cupboard in hallway.
The property also benefits from access to a spacious balcony and allocated parking.
Lease: Commenced 2010 with 125-year term
Council Tax Band: Bromley Council - D
Approx. Gross Internal Area: 477sq.ft.
FINANCIAL INFORMATION
Property Value = £300,000
Percentage Share = 25%
Share Price = £75,000
*Monthly Rent = £522.09
*Monthly Service Charge = £319.27
**Monthly Mortgage Payment = £522.00
***Annual Household Income = £43,000
*Please note the rent and service charge is reviewed annually 01 April.
** Based on a 90%, 30-year repayment mortgage with an interest rate at 5.5%.
***Is based on a 10% mortgage deposit. If you have a higher deposit Hyde New Homes can discuss how the salary required is reduced (approximately every 5% extra deposit reduces the salary required by £1,200).
Your home may be at risk if you do not keep up your mortgage and rent repayments. Particulars give an overall description of the property and are not intended to constitute an offer or form part of any contract. Areas, distances or measurements referred to are approximate. For confirmation of property details refer to the terms of the lease and plans from your solicitor. Hyde New Homes Resale properties are sold as seen, photographs and details (excluding financial information) are provided by the leaseholder. Please note that the Resales Team have not visited this property.
Key Features
LOCAL AREA INFORMATION
· The property is located within 10-minute walk of several mainline stations providing excellent links into central London.
· The leafy area of Beckenham captures the essence of the English countryside with its beautiful green spaces and community atmosphere while retaining a happening vibe.
· Add good schools and charming, affordable housing into the mix, and it’s easy to see why young professionals and families are migrating to the area. With six train stations, it is well served by public transport, and the 20-minute journey into central London seals the deal for many people.
· By day the streets are abuzz with parents fresh from the school run, catching up with friends in one of the area’s many cafes. In the evening the high street comes alive with younger residents heading to the pubs and restaurants.
· Once convinced of the area’s benefits, Beckenham residents often stay in the same property for decades or upgrade to one of the area’s larger homes as their families grow. This adds to the area’s real community feel, enhanced by local events such as the regular farmers’ markets, concerts and festivals on Beckenham Green.
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: D
Property Downloads
Floor Plan Energy CertificateMap
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 25%, full price £300,000, £7,500 Min Deposit. Calculated using a representative rate of 4.64%
