2 bedroom apartment for sale
***UNDER OFFER*** 55 Lovat Mead, Bexhill Road, TN38 8EH
Share percentage 40%, full price £160,000, £3,200 Min Deposit.
Share percentage 40%, full price £160,000, £3,200 Min Deposit.
Monthly Cost: £825
Rent £311,
Service charge £158,
Mortgage £356*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
The apartment is located on the ground floor of a four storey block of apartments.
Description
Accommodation
Ground Floor: Kitchen, Living Room, Two Bedrooms, and a Bathroom/WC
Improvements: Full renewal of kitchen including wall and base units, wall tiles, worktop, electric hob and integrated oven.
Full renewal of bathroom including bathtub & shower mixer tap, shower screen, WC and tiles and heated towel rail.
Fitted cupboards in the main bedroom and redecoration throughout
External: Allocated parking space
Location
This property is positioned in a residential area located on the edge of Hastings and St Leonards.
Key Features
Purchase Information
For Sale is a 40% share of the property for £64,000 with an additional monthly charge of £468.63 which includes Rent, Ground Rent, and Service Charge.
The Full Market Value of £160,000 does not consider the extensive improvements that have been undertaken in this property.
Therefore, the 40% share of £64,000 has an additional £15,000 to be added to cover the improvement value bringing the total payment required to £79,000.
Please take this into account with your finances as Mortgage Lenders will only loan on the market share valuation and not consider the improvements value. You will therefore require a large deposit of £15,000 plus any that your lender requires.
Additional Information
If you require any further information or wish to arrange a viewing, please contact Orbit Home Ownership Services using the details provided.
Particulars
Tenure: Not specified
Council Tax Band: A
Map
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 £160,000, £3,200 Min Deposit. Calculated using a representative rate of 5.03%
