1 bedroom apartment for sale
Apartment 33, 42 St Lukes Road, B5 7FN
Share percentage 50%, full price £190,000, £4,750 Min Deposit.
Share percentage 50%, full price £190,000, £4,750 Min Deposit.
Monthly Cost: £961
Rent £315,
Service charge £117,
Mortgage £529*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
- Not own another property in the UK or any other country.
- Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
- Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
- Be in full time permanent employment.
- Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
- Have a good credit history.
Summary
A bright and spacious 1-bed apartment
Description
This bright and spacious one bedroom apartment on St. Luke's Road is being offered for sale. The building is just 3 years old so is in excellent condition and ready to move into.
The apartment benefits from a contemporary open plan lounge and kitchen with built-in appliances, double bedroom, modern fitted family bathroom suite and a secure and allocated parking space.
The open-plan kitchen with adjoining family and dining areas provides an excellent setting for hosting gatherings, and the relaxing lounge area and the spacious main bedroom, as well as the family lounge boasting a generously-sized window that fills the space with abundant natural light.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Top Floor Apartment
- To Include Appliances
- Open Plan Living
- Modern Throughout
- Tenure:Leasehold (999 years from 01/01/2021)
- Share Available:50%(£95,000)
- Shared Ownership Rent:£314.74 per month (subject to annual review)
- Lease Management Fee:£25.61 per month (subject to annual review)
- Service Charge:£117.04 per month (subject to annual review)
- Council Tax:Band B, Birmingham CityCouncil
Particulars
Tenure: Leasehold
Lease Length: 999 years
Council Tax Band: B
Property Downloads
Key Information Document 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 50%, full price £190,000, £4,750 Min Deposit. Calculated using a representative rate of 5.03%
