2 bedroom apartment for sale
Rose Drive, Cringleford, Norwich, NR4 7SZ
Share percentage 50%, full price £200,000, £10,000 Min Deposit.
Share percentage 50%, full price £200,000, £10,000 Min Deposit.
Monthly Cost: £948
Rent £355,
Service charge £86,
Mortgage £507*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a Two Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
Description
This modern, second-floor flat has a good sized reception room with Juliette balcony and a spacious, semi-open-plan kitchen. There is a large main bedroom, a second comfortable double bedroom and a simple, white tiled and naturally lit bathroom. Well insulated walls and roof, gas central heating and high performance glazing have resulted in a very good energy-efficiency rating. The flat comes with the use of two parking spaces plus central Norwich can be easily reached via bus from nearby Round House Way. The local primary school is Ofsted-rated 'Outstanding' and only a few minutes walk from Rose Drive.
SHARED OWNERSHIP (Advertised price represents 50% share. Full market value £200,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [https://tinyurl.com/294v3zua]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: Clarion.
Tenure: Leasehold (125 years from 25/12/2015).
Minimum Share: 50% (£100,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £354.82 per month (subject to annual review).
Service Charge: £86.39 per month (subject to annual review).
Ground Rent: £200.00 for the year.
Guideline Minimum Income: Dual - £28,200 | Single - £34,500 (based on minimum share and 10% deposit).
Council Tax: Band B, South Norfolk Council. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).
Key Features
- Guideline Minimum Deposit £10,000
- Guide Min Income Dual £28.2k | Single £34.5k
- Second (Top) Floor
- Approx. 800 Sqft Gross Internal Area
- High Performance Glazing
- Semi-Open Plan Kitchen/Reception
- Gas Central Heating
- Two Parking Spaces
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: B
Property Downloads
Key Information Document Floor Plan BrochureMap
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 £200,000, £10,000 Min Deposit. Calculated using a representative rate of 4.64%
