1 bedroom apartment for sale
Sheepen Place, CO3 3LT
Share percentage 70%, full price £150,000, £5,250 Min Deposit.
Share percentage 70%, full price £150,000, £5,250 Min Deposit.
Monthly Cost: £737
Service charge £139,
Mortgage £598*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Summary
One bedroom flat
Description
We are delighted to be offering the opportunity to purchase a 70% share of this property through Shared Ownership. Ideally located within walking distance of Colchester North Station and Colchester City Centre and close to the local primary school, Colchester Institute and Colchester Sixth Form College. This is a well presented one bedroom flat comprising of:
Entrance – key operated communal door to entrance lobby.
Hallway – carpeted hallway. Doors leading to open plan lounge/kitchen/dining area, bedroom and bathroom.
Open plan lounge/ kitchen/ dining area – Open plan lounge/kitchen with space for dining table. Doors leading to Juliet balcony. Laminate flooring. Aerial/phone point.
Kitchen – Fitted with a range of wooden base and wall units. Worktop and tiled splashback. Integrated electric oven, gas hob and stainless-steel extractor hood. Space for fridge/freezer and washing machine. Stainless steel kitchen sink with mixer tap. Laminate flooring.
Bedroom – Double bedroom. Fitted wardrobe. Carpeted. Aerial/phone point.
Bathroom – Over bath mixer shower, wash hand basin and toilet.
Gas central heating (new boiler installed 2023) and double-glazed windows throughout.
External – One undercover parking space plus visitors permit. Bin area and bike storage. Free access to nearby gym facilities with coded access.
Service charge includes water, gas and buildings insurance. No rent is payable on the remaining shares of this property.
Applications are based on a first come first serve basis. Please note, that you will be required to supply a copy of your mortgage in principle/agreement in principle as part of your application.
Key Features
70% Shared Ownership
No rent payable
One allocated parking space
Close to train station
Particulars
Tenure: Leasehold
Lease Length: 95 years
Council Tax Band: B
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 70%, full price £150,000, £5,250 Min Deposit. Calculated using a representative rate of 5.26%
