2 bedroom apartment for sale
Moorview House, Selden Hill, HP2 4FY
Share percentage 45%, full price £250,000, £5,625 Min Deposit.
Share percentage 45%, full price £250,000, £5,625 Min Deposit.
Monthly Cost: £1,220
Rent £415,
Service charge £164,
Mortgage £641*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change.
** This home can also be purchased outright (100% of the value) which is £250,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £112,500 with a 45% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £112,500 with a 40% share!
Accommodation comprises entrance hall with storage and airing cupboards, modern kitchen/breakfast room, a bright, dual aspect living room with Juliet balcony, family bathroom and two bedrooms with built in wardrobes to the main bedroom.
Set in a prime town centre location, this apartment is ideally located within walking distance of the local amenities and has easy access to fantastic transport links.
Further benefits include an allocated parking space and secure phone entry system.
PRICING & AFFORDABILITY
Approximate Size: 666 Sqft
Full Market Value: £250,000
45% Share Price: £112,500 (rent £414.83pcm)
Minimum 5% Mortgage Deposit (40% share): £6,125
Approximate Service Charges: £164.37pcm*
Shared Ownership Lease: approx. 82 years
Council Tax Band: C
Key Features
Allocated parking space
Great travel links
Town centre location
Two bedrooms
First floor
Particulars
Tenure: Leasehold
Lease Length: 82 years
Council Tax Band: C
Property Downloads
Floor PlanMap
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 45%, full price £250,000, £5,625 Min Deposit. Calculated using a representative rate of 5.26%
