1 bedroom apartment for sale
St. Lukes Road, B5 7FN
Share percentage 50%, full price £182,500, £4,563 Min Deposit.
Share percentage 50%, full price £182,500, £4,563 Min Deposit.
Monthly Cost: £933
Rent £270,
Service charge £143,
Mortgage £520*
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.
Summary
This superb modern home is available to buy from as little as £91,250 with a 50% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £97,750 with a 50% share!
A top floor apartment conveniently situated approximately 1 mile from The Bullring shopping centre as well as three different train stations (Birmingham New Street, Five Ways and Bordesley). The spacious accommodation includes an open plan lounge/kitchen/diner, a double bedroom and a bathroom.
The location of B5 Central is truly exceptional, placing you at the heart of Birmingham's vibrant city centre. With a wealth of amenities and attractions just moments away, you'll have everything you need within easy reach. From renowned shopping destinations like the Bullring Shopping Centre to a variety of restaurants, cafes, and entertainment venues, you'll never be short of options for leisure and recreation.
The local area is highly sought after with outstanding schools and colleges close by as well as the Queen Elizabeth Hospital and Private Priory hospital. The world-renowned University of Birmingham is also close by as well as the Edgbaston Cricket ground and Canon Hill park.
PRICING & AFFORDABILITY
Approximate Size: 506 sq ft
Full Market Value: £182,500
50% Share Price: £91,250 (rent £270.08pcm)
Minimum 5% Mortgage Deposit (5% share): £4,562.50
Approximate Service Charges: £142.65pcm*
Shared Ownership Lease: approx. 996 years
Council Tax Band: B
Key Features
Modern Shared Ownership home
Open plan lounge/kitchen/diner
Double bedroom
Top floor
Approx. 1 mile from Birmingham New Street Station & The Bullring
Excellent travel links and amenities
Particulars
Tenure: Leasehold
Lease Length: 996 years
Council Tax Band: B
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 50%, full price £182,500, £4,563 Min Deposit. Calculated using a representative rate of 5.26%
