2 bedroom apartment for sale
Hudson House, Bessemer Road, AL7 1GT
Share percentage 45%, full price £335,000, £7,538 Min Deposit.
Share percentage 45%, full price £335,000, £7,538 Min Deposit.
Monthly Cost: £1,501
Rent £487,
Service charge £155,
Mortgage £859*
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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £335,000 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 £150,750 with a 45% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £150,750 with a 45% share!
This well presented first floor apartment benefits from allocated parking and a private balcony. The accommodation features an open plan lounge/kitchen/diner with doors opening to the balcony, two double bedrooms (en suite to bedroom one) and a family bathroom.
Hudson House sits just a short drive from of the town of Welwyn Garden City which offers a wide range of amenities and shops including John Lewis, Waitrose and the Howard Centre. The town has a mainline railway station with fast and frequent services into London Kings Cross and Moorgate. Providing good transport links via road is the A1(M) which is within easy access. Sports clubs, Gosling Sports Park, Stanborough Lakes and The Campus West for theatre, cinema and library are also situated within close proximity of the property. Welwyn Garden City railway station is just 0.7 miles away on foot along with a wide range of shops.
PRICING & AFFORDABILITY
Full Market Value: £335,000
45% Share Price: £150,750 (rent £486.70pcm)
Minimum 5% Mortgage Deposit (45% share): £7,538
Approximate Service Charges: £155.22pcm*
Shared Ownership Lease: approx. 124 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
En suite
Parking
Private balcony
Open plan lounge/kitchen/diner
Less than 1 mile walk from train station
Particulars
Tenure: Leasehold
Lease Length: 124 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 £335,000, £7,538 Min Deposit. Calculated using a representative rate of 5.26%
