2 bedroom apartment for sale
126a West Street, DA8 1AN
Share percentage 50%, full price £230,000, £5,750 Min Deposit.
Share percentage 50%, full price £230,000, £5,750 Min Deposit.
Monthly Cost: £1,024
Rent £189,
Service charge £180,
Mortgage £655*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Summary
The apartment is located on the first floor of a three storey block of apartments.
Description
Accommodation
First Floor: Entrance Lobby, Airing cupboard, Lounge/Kitchen/Diner, Double Bedroom, Smaller Double Bedroom and Family Bathroom W/C.
Improvements: New Bathroom and Kitchen cabinetry, Extension of the Lease
External: One Allocated parking space and Communal Area.
Location
This property is positioned in a residential area and is adjacent to amenities including shops, pub, take away shop and there is a local bus stop. The property has recreation grounds in close proximity too.
Key Features
Purchase Information
For Sale is a 50% share of the property for £115,000 with an additional monthly charge of £369.36 which includes Rent, Service Charge and Management Charge.
The Full Market Value of £230,000 does not consider the extensive improvements that have been undertaken in this property.
Therefore, the 50% share of £115,000 has an additional £10,000 to be added to cover the improvement value bringing the total payment required to £125,000.
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 £10,000 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: 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 50%, full price £230,000, £5,750 Min Deposit. Calculated using a representative rate of 5.26%