2 bedroom apartment for sale
Gala Court, DA8 1FE
Share percentage 40%, full price £315,000, £12,600 Min Deposit.
Share percentage 40%, full price £315,000, £12,600 Min Deposit.
Monthly Cost: £1,499
Rent £528,
Service charge £332,
Mortgage £639*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
Allocated Parking, Long Lease Term, Private Balcony
Description
Shared Ownership
Full Market Value: £315,000
Share Value (40%): £126,000
Monthly Rent: £527.60
Service Charge: £332.27
Council Tax Band: C
250 year lease commenced September 2019 - 245 years remaining
EWS1 available for this property - B1 Rating
L&Q welcomes you to view this two bedroom, second floor apartment.
Thisbright andspaciousdetached coach house apartment consistsof astylishopen-plan kitchen and living area, flooded with natural light from wide floor-length windows and door leading to private balcony. The kitchen is fitted with taupe wall and base units, with under-cupboard lighting, and a oak effect worktop. The kitchen also benefits from integrated appliances including a fridge freezer, oven, hob, extractor fan and dishwasher. Spacious main double bedroom benefitting from built-in storage cupboards. Bright and airy second double bedroom with floor-length windows. The bathroom comes complete with a white three-piece suite with a shower over bath and a stone tile surround. Additional two storage cupboards in hallway. Allocated parking space.
This property benefits from a sinking fund. A sinking fund is a long-term savings plan that leaseholders contribute to every month through service charges. This is used to pay for major works that are required, such as replacing a roof.
Located in the Erith Riverside development this modern apartment would make an ideal first time buy. A great location within walking distance of Erith Station, Town Centre, Erith sports/leisure centre and the Thames path. Easy access to the Elizabeth line with connections to central London and London Heathrow airport.
The buyer will require a deposit to obtain a mortgage for this property.
To meet the requirements for this property we require as a guideline, a minimum household income of £56,075. If you are offered the home, your ability to afford this property will be assessed at your financial interview. Please note that applicants should purchase the maximum share that they can afford and sustain.
Only applicants who are registered with London and Quadrant will be eligible to be offered a property in one of our schemes. If you are not registered please visit our website www.lqhomes.comand register to obtain your unique reference number.
Your home is at risk if you fail to keep up repayments on a mortgage, rent or other loan secured on it. Please make sure you can afford the repayments before you take out a mortgage.
These particulars are of opinion only, are intended to give a fair description and do not form the basis of a contract. The descriptions and all other information are believed to be correct as of June 2024.
Key Features
- Good transport links
- Long lease term
- Allocated Parking
- Electric heating
- Private Balcony
Particulars
Tenure: Leasehold
Lease Length: 245 years
Council Tax Band: C
Property Downloads
Key Information Document 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 £315,000, £12,600 Min Deposit. Calculated using a representative rate of 4.64%
