1 bedroom apartment for sale
Abel Yard, Rope Walk, BS1 6ZL
Share percentage 40%, full price £290,000, £5,800 Min Deposit.
Share percentage 40%, full price £290,000, £5,800 Min Deposit.
Monthly Cost: £1,125
Rent £315,
Service charge £149,
Mortgage £661*
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 £290,000 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 £116,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £116,000 with a 40% share!
Located in a prime location, this fabulous apartment features an open plan lounge/kitchen/diner with double doors that open to a large private terrace, a double bedroom and bathroom.
Designed to be in keeping with the historic dockside location, the apartments at Wapping Wharf have characterful timber exteriors and enjoy balconies that overlook the surrounding tree-lined walkways and idyllic waterfront.
From Wapping Wharf your daily travel couldn’t be easier. Whether it’s popping to the supermarket for the weekly shop, or an impromptu jog around the harbour it’s all possible from your new base. As a city built upon green credentials, Bristol is made for travelling by foot, cycling or public transport. The city centre is just a short walk away, or even quicker if you choose to use the new cycle path that passes right through the development.
There are regular and reliable buses that run throughout the city and Bristol Temple Meads train station (approx. 20 minute walk away), connects you to major cities including Birmingham, Leeds and Manchester which can also take you to London Paddington in 1 hour 20 minutes. If you’re looking for a more novel way to travel hop aboard one of Bristol Ferry Boats’ daily services from your nearest ferry stop. By water you can take in city landmarks including the SS Great Britain and reach Bristol Temple Meads in a cool 16 minutes.
PRICING & AFFORDABILITY
Full Market Value: £290,000
40% Share Price: £116,000 (rent £314.61pcm)
Minimum 5% Mortgage Deposit (40% share): £5,800
Approximate Service Charges: £149 pcm*
Shared Ownership Lease: approx. 121 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
Superb ‘waterside’ development
Private terrace
Open plan living/kitchen space
Short walk from City centre
120 year+ lease
Particulars
Tenure: Leasehold
Lease Length: 121 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 40%, full price £290,000, £5,800 Min Deposit. Calculated using a representative rate of 5.26%
