2 bedroom apartment for sale
Reaston Street, SE14 5FT
Share percentage 40%, full price £425,000, £17,000 Min Deposit.
Share percentage 40%, full price £425,000, £17,000 Min Deposit.
Monthly Cost: £1,711
Rent £671,
Service charge £177,
Mortgage £863*
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 1st floor, two-bedroom apartment in London.
Description
Available through our resale shared ownership scheme, a 1st floor, two-bedroom apartment in London.
Property description:
The property comprises a communal and wheelchair accessible entrance, entry system, lift access,
open plan kitchen and living area which includes floor to ceiling windows leading out to the southeast facing balcony, kitchen which has integrated appliances and ample inbuilt storage cupboards, two spacious double bedrooms, family bathroom with shower over bath and three large floor to ceiling storage cupboards in hallway.
The property also benefits from a shared garden/courtyard.
Lease: Commenced 2015 with 125-year term
Council Tax Band: Lewisham Council - C
Approx. Gross Internal Area: 819sq.ft.
FINANCIAL INFORMATION
Property Value = £425,000
Percentage Share = 40%
Share Price = £170,000
*Monthly Rent = £670.87
*Monthly Service Charge = £177.42
**Monthly Mortgage Payment = £869.00
***Annual Household Income = £65,000
*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.
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
· Good transport links from New Cross Gate and Queens Road Peckham, each are a 13-minute walk away. Trains to London Bridge, Shoreditch, Clapham Junction and Crystal Palace. The flat is located within New Cross Road/Old Kent Road with great bus connections into Central London.
· The flat is on the doorstep of great areas, Nunhead, Deptford and Peckham, all including lots of restaurants, parks and other amenities.
· Reaston Street is a quiet residential street next to Eckington Gardens, a small friendly park. It’s also a stones throw from Bridgehouse Meadows and Telegraph Hill Park.
· Nearby lots of pubs, restaurants and cafes, including, Blackbird Bakery, Corner, Peckham Cellars, the Earl of Derby, Beer Rebellion and Little Kudu.
· A short walk to New Cross Road which offers a variety of shops, restaurants and other amenities. A Large Sainbury’s is a 10 minute walk away.
· Numerous schools close by.
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: C
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 40%, full price £425,000, £17,000 Min Deposit. Calculated using a representative rate of 4.64%
